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Chinese electric vehicle maker Xpeng unveils P7 four-door coupe at Auto Shanghai 2019, months after SUV roll out

Chinese electric vehicle maker Xpeng unveiled the P7 four-door coupe, its second mass-market model in four months, at Auto Shanghai 2019 on Tuesday. It will start deliveries from the second quarter of 2020 and will announce a price later.“With P7, we are targeting the new generation of China … Xpeng Motors’ unique differentiation is its vision and corporate DNA,” said He Xiaopeng, the company’s founder and chairman. Brian Gu, a veteran JPMorgan investment banker and chairman of its Asia-Pacific… Source link

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Stocks blog: Can traders keep on their roll?

Good day traders. And welcome back from a short trading week, due to the Tomb Sweeping holiday. China reported Sunday that its foreign exchange reserves rose for a fifth straight month in March. More China data is coming this week, including on exports and imports on Friday. Trade negotiations continue to make headway, both sides say. Your market guides today will be Louise Moon and Deb Price in Hong Kong. We’ll be helped out by the rest of the markets team as well as other reporters on our… Source link

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Stocks Blog: Will risk-on roll on?

Good morning traders. The US rallied overnight, picking up on our big first day of the second quarter, when Hong Kong joined mainland China markets in the bull market club. Today is looking risk on again. Some of the companies we’ll be watching are:  Gree Electric (000651 CH), which could be facing an ownership shake-up. And cancer-drug developer CStone Pharmaceuticals (2616 HK), which got a buy rating from Goldman Sachs, with a target price of HK$18.50, and overweight rating from Morgan… Source link

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China, Hong Kong stocks stay on positive roll on trade news, US overnight rally

China and Hong Kong posted gains in early trading Tuesday, buoyed by an overnight rally in the US and news from Xinhua News Agency of progress in talks in the US-China trade war. The Shanghai Composite Index was trading up by 1.4 per cent as of 10.40am. The CSI 300, which tracks blue chips listed on Shanghai and Shenzhen bourses, was up nearly 1 per cent by the same time.Hong Kong’s Hang Seng Index was up 1.3 per cent as of 10:40am. “The better performance in the Hang Seng Index…

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Will trimmed subsidy roll back knock the wind out of Taiwan’s offshore turbine sector?

A retrospective reduction in subsidies for offshore wind power development by Taiwan could take the wind out of international developers’ sails, and erode some of the sector’s attractiveness relative to Japan, mainland China and South Korea as an investment destination. The Taiwan government had proposed an aggressive cutback in subsidies for offshore wind power projects in November 2018, after the ruling Democratic Progressive Party suffered a major election setback at the hands of the opposition Kuomintang Party, which has criticised offshore wind subsidies previously given as too generous. It initially…

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China to roll out new consumer spending incentives for cars and home appliances to offset trade war

China is planning to roll out a new set of incentives this year to encourage the country’s 1 billion consumers to buy more items like cars and home appliances as part of a wider effort to stabilise economic growth, a senior state planner said. The comments by Ning Jizhe, vice-chairman of the National Development and Reform Commission (NDRC), China’s top economic planning agency, followed the decision by the Central Economic Work Conference last month to expand domestic consumer spending this year to achieve “high-quality growth” and offset the impact if…

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China to roll back extra tariff on US car imports for three months, in likely boon to Tesla

China will roll back an extra tariff it slapped on US car imports for three months, the State Council, the government cabinet, announced Friday, in a likely boon to US electric car maker Tesla. The tariff will be rolled back to 15 per cent – the tariff now applied to all foreign car imports – from the 40 per cent rate China imposed in July in retaliation for the first round of US tariffs on Chinese imports imposed that month. The reprieve will commence at the start of the new…

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Escalation of trade war could force Beijing to roll out fresh economic stimulus measures, PineBridge says

A further escalation of the trade war between the United States and China could force Beijing to take more expansive measures to stimulate the Chinese economy, according to officials at the asset manager PineBridge Investments. The rising trade tensions between the two largest economies have come against the backdrop of the Chinese government engaging in a campaign over the past two years to reduce the country’s debt levels, known as deleveraging, Markus Schomer, chief economist at PineBridge Investments, said. As the country’s economy has begun to slow, Beijing has begun…

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