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Stocks Blog: Hong Kong rises while Shanghai struggles for direction after Fed hints at rate cut ahead

Good day, traders. Overnight, the US Federal Reserve hinted that it may cut rates ahead, with the chairman noting “uncertainties” that made Fed officials “now see that the case for somewhat more accommodative policy has strengthened.”  We’ll be watching mainland and Hong Kong stocks closely. Please send any questions or feedback to deb.price@scmp.com . And welcome to our first reader from Brazil. — Yujing Liu and Deb Price   Source link

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Việt Nam’s industrial production rises 9.4 per cent in five months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Processing fish for export at An Giang Fisheries Import and Export Joint Stock Company (Agifish). Supply chains are shifting to Southeast Asia due to the region’s growing economies and consumer markets, according to a report from HSBC. — VNA/VNS Photo Phạm Hậu HÀ NỘI – Việt Nam’s industrial production index (IIP) rose 9.4 per cent in the first five months of 2019, driven by growth in the processing and manufacturing industry, power production and distribution, and water supply and waste treatment, data from the General Statistics Office (GSO) showed.…

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Government, developers in Suzhou, ‘Venice of China’, agree to limit property price rises at 5 per cent after uptick in sales, sentiment

Suzhou, a manufacturing hub near Shanghai dubbed the “Venice of China”, is considering new property restrictions to cool runaway home prices. A second-tier city with a population of 10.7 million, its property market has reported an uptick in property sales and sentiment since February.According to a report in the Paper, a publication of the Shanghai government-owned United Media Group, on Monday, the Suzhou government and developers decided to restrict increases in annual new home prices to… Source link

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VN-Index rises despite selling pressure – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Vinhome department complex in Hà Nội. Foreign investors sold VNĐ65.6 billion billion worth of Vinhome share yesterday. — Photo http://bietthubienphuquoc.com.vn/  HÀ NỘI — High selling pressure during the final minutes of trading limited gains, but the benchmark VN-Index still managed its rally thanks to the performance of some large-cap stocks. On the Hồ Chí Minh Stock Exchange, the VN-Index inched up 0.01 per cent to 975.69 points. Liquidity was modest with 170 million shares worth a combined VNĐ3.9 trillion (US$165 million) traded on the southern bourse. The VN-Index gained 1.07 per cent on…

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VN-Index rises for third straight day – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Customers at a Techcombank office. The bank’s shares jumped 4.1 per cent yesterday, the highest among listed banks, to boost the benchmark VN-Index on the Hồ Chí Minh Stock Exchange by 1.07 per cent. — VNA/VNS Photo Trần Việt HÀ NỘI — The VN-Index rose for the third straight session on Wednesday as liquidity improved significantly amid rebounding investor confidence of a global market recovery. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 1.07 per cent to end at 975.64 points. Liquidity improved, meaning that cash flow was gradually returning…

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Việt Nam’s PMI at four-month high as employment rises – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Workers produce automobile parts at Keihin Vietnam Co. — VNA/VNS Photo Danh Lam HÀ NỘI — Việt Nam’s Manufacturing Purchasing Managers’ Index (PMI) – a composite single-figure indicator of manufacturing performance – rose to a four-month high of 52.5 in April from 51.9 in March, signalling solid monthly improvement in the health of the sector. A survey by Nikkei and IHS Markit released on Thursday also showed the country’s business conditions have improved on a monthly basis since December 2015. According to the survey, Vietnamese…

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Meaty gains for Leo DiCaprio-backed vegan burger maker Beyond Meat, as stock rises 160 per cent on debut

Shares in vegan burger maker Beyond Meat rose more than 160 per cent on their market debut on Thursday, as investors look to cash in on the first publicly listed veggie meat company and the growing popularity of plant-based meat alternatives.The stock opened at US$46, well above its IPO price of US$25. Shares surged minutes after starting to trade and were halted due to volatility. They traded up to US$72 during the day, before closing at US$65.75.Beyond Meat, which has warned it may never turn… Source link

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Laura Cha’s pay rises 51pc to US$420,825 at HKEX, making her one of Asia’s highest-paid exchange chiefs

Laura Cha Shih May-lung, the first woman to head bourse operator Hong Kong Exchanges and Clearing, will earn HK$3.3 million (US$420,825) in the financial year starting April 1, a 51 per cent increase over 2018, after shareholders approved new pay packages for non-executive directors in an annual general meeting on Wednesday.Cha’s pay stood at HK$2.19 million last year, and her new pay is 57 per cent higher than Chow Chung-kong’s, her predecessor, who earned HK$2.1 million in his last year as… Source link

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Does Japan’s Reiwa era promise a new economic dawn even as China rises?

On May 1, Japan will restart its clock, drawing the curtain on the Heisei era of Emperor Akihito and waking to a new – and hopefully brighter – Reiwa era of 59-year-old Emperor Naruhito. For many Japanese, this is perhaps not a moment too soon. For a couple of years, Japan’s economists have been talking up the “true dawn” unfolding in the country, as they try to put behind them the disaster, drift and global decline of three decades of Heisei.Most of their tentative optimism has arisen from… Source link

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FPT’s profit rises 23 per cent, driven by software outsourcing – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The software outsourcing segment recorded revenue of more than VNĐ2.3 trillion and pre-tax profit of VNĐ329 billion by the end of March, both up more than 37 per cent year on year. — Photo courtesy of the company HÀ NỘI — IT giant FPT Corporation reported first-quarter revenue of nearly VNĐ5.7 trillion (US$244.6 million) and before-tax profit of VNĐ960 billion ($41.2 million). Shares of the company (FPT) rose 1.3 per cent on Thursday on the Hồ Chí Minh Stock Exchange to VNĐ48,500 ($2.08) per share following the information. These results represented growth…

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