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China’s new home prices rise 0.71 per cent in May, accelerating at the fastest pace in six months

China’s new home prices rose at an accelerated pace in May, bolstered by robust gains in lower-tier cities, while Shanghai and other top tier cities recorded modest to flat growth amid indicators that pointed to slowing investment and sales by volume on year.The average cost of a new home increased by 0.71 per cent in May from April, the fastest gain since November, and an acceleration from 0.62 per cent in April on month, according to Bloomberg calculations based on National Bureau of… Source link

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Hong Kong stocks rise after historic protest, government climbdown on extradition proposal restore confidence

Hong Kong stocks rose on Monday, after the city’s leader apologised for her handling of a controversial bill that would allow extraditions to China, following a historic protest joined by an estimated two million people.The Hang Seng Index edged up 0.4 per cent to 27,227.16, snapping a three-day losing streak. The benchmark was previously weighed down by worries over raw tensions between Hong Kong’s government and demonstrators, against the backdrop of an escalating US-China trade war.Chief… Source link

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Vietnam 

Building material prices on the rise – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Many shop selling building materials such as cement and steel have increased their prices since the beginning of this month. — Photo baoxaydung.vn HÀ NỘI — The cost of building materials has been on the rise due to increasing electricity tariffs at the peak time for construction. Many shops selling materials such as cement and steel have increased their prices since the beginning of this month. The SCG Cement – Building Material Việt Nam Company Ltd announced to its distributors it was raising the cement price by VNĐ29,700 per tonne including…

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China 

China’s foreign reserves rebound in May, gold holdings also rise

China’s foreign exchange reserves unexpectedly rose US$6.1 billion in May to US$3.101 trillion, reversing the previous month’s decline.The rise also came as China increased its gold reserves by 1.88 per cent to US$79.8 billion last month, according to central bank data released on Monday. The country’s gold reserves had risen in January and February before enduring two months of decline.Economists polled by Reuters had forecast China’s foreign reserves would fall by US$5 billion to US$3.09… Source link

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Global 

China’s exports rise in May due to front-loading ahead of US tariff increase, but upturn won’t last, analysts warn

Chinese exports rebounded slightly in May as companies front-loaded their shipments to beat last month’s US tariff increase, but analysts warned that the damage from the move by US President Donald Trump could soon pose a severe challenge to the world’s second largest economy.Goods sold overseas rose 1.1 per cent in May from a year earlier, confounding market expectations of 3.9 per cent drop and improving from the 2.7 per cent fall a month earlier.Imports, however, fell 8.5 per cent following… Source link

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Vietnam 

Shares rise on Fed rate hike hopes – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Workers of PV Gas in the company’s factory. PV Gas shares were among best performers on the Hồ Chí Minh Stock Exchange on Friday with growth of 3.2 per cent. — Photo pvgas.com.vn   HÀ NỘI – Shares accelerated growth in Friday’s afternoon session, driven by improved sentiment in both local and regional markets on hopes the US Federal Reserve (Fed) lowers its interest rate twice this year. On the Hồ Chí Minh Stock Exchange, the VN-Index increased 1.06 per cent to end Friday’s…

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Vietnam 

Exports rise thanks to trade war: VNDS – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Customers make transaction at a Vietcombank office in Hà Nội.  The Vietnamese đồng is predicted to be less depreciation pressure compared to last year. — VNA/VNS Photo HÀ NỘI — Việt Nam’s exports and industrial output have increased in recent months as the country is considered a beneficiary of the US-China trade war, according to a VNDrect Securities Corporation (VNDS) report. The report showed that export growth rebounded sharply in April, up 10.4 per cent year-on-year, while May’s industrial production index increased by 10 per cent year-on-year. “Despite the step-up in trade…

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Vietnam 

Tra fish exports to China on the rise – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Processing tra fish for exports at a plant in HCM City. – VNS File Photo. HCM CITY  — Việt Nam’s tra fish (pangasius) exports to China have been skyrocketing since 2015, making it the biggest market for Việt Nam’s tra fish by 2017. Last year shipments to China were worth US$528 million. Top tra exporters including Vĩnh Hoàn Corporation and Nam Việt Corporation (Navico) have also looked for opportunities to introduce their products to restaurant and supermarket chains and on e-commerce channels such as Alibaba and JD.com in the country of more than 1.3…

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Hong Kong’s home prices gather speed in April, rise at the fastest pace in more than six years

Hong Kong’s pre-owned home prices rose at the fastest pace in more than six years, but analysts expect the uptrend to taper off as buying interest has been adversely hit by the escalating US-China trade war.The price index of used homes rose 3.2 per cent to 390.5 in April, faster than the 3 per cent growth in March, according to data released by the Rating and Valuation Department on Friday.The growth is the fastest for 75 months since February 2013, when a 3.23 per cent rise was recorded, said… Source…

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Vietnam 

Profits shrink for hydropower sector but rise for thermal plants – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An overview of the Phả Lại Thermal Power Co Ltd in the northern province of Hải Dương. Phả Lại Thermal Power Co Ltd saw a net profit increase of 27 per cent to reach VNĐ242.6 billion thanks to an improved gross profit margin, up from 14.7 per cent to 19.4 per cent. — Photo vietnambiz.vn HÀ NỘI — Hydropower plants have seen poor business performance in the first quarter of 2019, which could give coal-powered and gas-powered thermo-electric plants more opportunities to produce electricity. To ensure demand is met,…

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