Vietnam 

State domestic revenue rises 14% to US$34.8 billion in eight months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  It is also estimated that domestic revenues collected by 55 of all 63 provinces and cities have beat the full-year target, which is set at 65 per cent. — Photo petrotimes.vn HÀ NỘI — The State budget’s domestic revenue in the first eight months of 2019 is estimated at VNĐ808.8 trillion (US$34.8 billion), according to the Ministry of Finance. The figure is equal to 68.9 per cent of the full-year plan and up 13.9 per cent year on year. The domestic revenue is made up…

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Hang Seng Index rises to highest level in six weeks as trade war angst eases

The Hang Seng Index rose 1.8 per cent to close at 27,159.06, its highest level since August 1, as investors’ outlook on the US China trade war improved, prompting them to snap up banking and property stocks.The gains in Hong Kong on Wednesday contrasted with the CSI 300, which tracks blue chips listed on Shenzhen and Shanghai bourse. It closed down 0.7 per cent at 3,930.1, while the Shanghai Composite Index finished down 0.4 per cent at 3,008.81.China on Wednesday unveiled a list of 16 types of… Source link

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Vietnam 

Corporate bond issuance rises in eight months, transparency still biggest concern – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Cash notes being counted in exchange for bond notes. Commercial banks were still the biggest corporate bond issuers, raising total VNĐ56 trillion, 47.9 per cent of the total recorded in the first eight months of the year. – Photo vietnambiz.vn HÀ NỘI – A total of VNĐ117 trillion (US$5.03 billion) worth of corporate bond notes were raised in the first eight months of 2019, according to SSI Securities Corporation’s research unit. The figure means the successful issuance rate in the first eight months was 90.8 per cent…

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Fiery liquor maker Wuliangye rises to record after Citic Securities raises price target

Wuliangye Yibin, China’s second most valuable fiery liquor distiller, rose to a record in Shenzhen trading after Citic Securities set the most bullish share-price estimate for the stocks.Shares of Wuliangye, whose Chinese name means liquor distilled from five types of grains, climbed as much as 3.2 per cent to 136.55 yuan on Wednesday, the highest intraday price since the Sichuan province-based company went public two decades ago. Wuliangye is valued at 515.9 billion yuan (US$72.1 billion),… Source link

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China 

Chinese government acts to curb pork price rises as African swine fever continues to hit supplies

The Chinese government has stepped in to support pig farmers and consumers in an effort to curb rising prices and supply shortages caused by African swine fever.The move also ties in with broader efforts to stabilise market sentiment and help consumers who are vulnerable to price and income changes as the trade war with the United States escalates.Around 29 provinces have already initiated a variety of measures, and have paid out more than 2 billion yuan (US$281 million) in consumer subsidies… Source link

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Hong Kong’s inventory of unsold residential property rises to a decade-high of 10,000 homes as trade war, protests deterred buyers

Hong Kong’s inventory of unsold residential property rose to the highest in more than a decade, as uncertainties brought by the US-China trade war and the city’s ongoing political unrest deterred buyers from big-ticket purchases.The figure stood at 10,000 unsold homes at the end of the second quarter, 1,000 units more than the end of March, according to data by the Transport and Housing Bureau.The expanding stock – fewer than Hong Kong’s first-half home sales – underscores the proposal by Chief… Source link

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Vietnam 

Sharp rises in Q2 corporate earnings come from asset sales – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Hot-rolled coils stored inside a Nam Kim steel plant. The company plans to earn VNĐ850 billion from selling its stakes in sub companies and business projects in 2019. – Photo news.zing.vn HÀ NỘI — A number of listed companies have reported sharp increases in their quarterly profits as they have performed well in selling stakes in sub-units and projects. The first half of the year was a tough time for local firms as the Vietnamese economy growth slowed to 6.71 per cent. The figure was 0.02…

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Home auction demand rises in Australia, raising hopes of a market turnaround

Tumbling Australian home prices may have found solid ground amid the worst property downturn in a generation, as the real estate industry experiences a revival in auction demand, data showed.Australia’s central bank has been closely watching housing market weakness as two years of price declines have eroded wealth, undermining consumer confidence and spending power.The country’s housing stock is worth about A$6.8 trillion (US$4.8 trillion), according to estimates from the Australian Bureau of… Source link

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China 

China’s total debt rises to over 300 per cent of GDP as Beijing loosens borrowing curbs to boost growth

China’s total debt burden rose strongly in the first quarter of 2019 as Beijing allowed more loans and local government bond issuance to help shore up the slowing economy, according to estimates by the Institute of International Finance.The figure stood at nearly 304 per cent of its gross domestic product (GDP) in the first three months of the year, up from 297 per cent a year earlier, the US-based trade association said.The Chinese government has sought to rein in corporate debt by restricting… Source link

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Vietnam 

Budget revenue rises 13 per cent in first half of year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Deputy Prime Minister Vương Đình Huệ  addresses a conference yesterday in Hà Nội, reviewing the performance of the financial sector in the first six months of this year and setting tasks for the second half. — Photo Ministry of Finance   HÀ NỘI — Viet Nam is well on the way to hitting one of its key economic targets for the year. State budget revenue in the first six months of this year hit nearly VNĐ745.4 trillion (US$31.9 billion), up 13.2 per cent over the same period last year…

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