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Hong Kong, China markets struggle for direction as four-day winning run ends

Hong Kong and China markets struggled for direction and ended lower on Tuesday, one day after recording the biggest rally in about two months, as investors awaited developments on the trade war and US interest rates.The Hang Seng Index swung between gains and losses, finally ending 0.2 per cent lower at 26,231.54, snapping a four-session winning streak. Turnover on the main board stood at HK$79 billion (US$10 billion), down from Monday’s HK$97 billion.The Shanghai Composite Index ended 0.1 per… Source link

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Hong Kong stocks see longest run of declines in two decades as city is hit by transport chaos

Hong Kong stocks posted their longest declining stretch in more than two decades, as protesters paralysed the city’s transport, disrupting commuter services and forcing flight cancellations. Meanwhile, China’s yuan weakened to breach the 7 mark against the US dollar.The Hang Seng dropped 2.9 per cent to 26,151.32 for a ninth straight day of declines on Monday. The last time when such a run happened was back in March 1997, a few months before the handover of the former British colony and the… Source link

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Hong Kong’s index of used homes fell in June as trade war, public unrest combine to stifle property market bull run

The prices of Hong Kong’s lived-in homes dropped by 0.8 per cent in June, as the year-long US-China trade war and unprecedented levels of public unrest combined to send property buyers to the sidelines, ending a five-month bull run in the city’s real estate market.The price index of used homes fell to 393.7, according to the Rating and Valuation Department’s data. Property analysts said the decline will accelerate in the coming months.“The index will still adjust downwards in the next one to… Source link

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Global bull run could continue for as long as two years, but may be ‘noisy’ for investors, Investec Asset Management says

The bull market and the longest economic expansion globally since the second world war will continue for as long as another 18-24 months, but it could be a “noisy” one for investors, according to Investec Asset Management.John Stopford, head of multi-asset income at Investec, said investors needed to be more defensive in their approach as the market cycle was quite “long in the tooth”, but there were opportunities to take on risk.“The context we are operating in is a very uncertain one, a very… Source link

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Singapore 

Ex-NUS lecturer on the run for 17 years found guilty of molesting 5 teenage boys, Singapore News

A former National University of Singapore (NUS) senior psychology lecturer fled to Malaysia after molesting five teenage boys at a school camp and was on the run for 17 years before he was sent back here in December 2016. After a trial, District Judge Shaiffudin Saruwan on Monday (July 22) found Chan Cheng, now 59, guilty of five counts of molestation. Seven other molestation charges involving four boys are still pending. The teenagers were in Secondary 1 when Chan molested them at the Guillemard Camp in Old Airport Road during a…

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China 

Bull run in China’s home prices continues for 50 straight months in June, but growth slows as curbs kick in

China’s new home prices rose for 50 months in a row in June, but the pace of growth slowed as a range of cooling measures initiated by the government kicked in.The average cost of a new home increased by 0.6 per cent in June, slowing from 0.71 per cent jump in May and 0.62 per cent in April, according to calculations based on National Bureau of Statistics data released on Monday morning.“The government has launched policies targeting developers one after another, which have cooled down the… Source link

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The bitcoin bull run is more than just hype this time – don’t be surprised by a US$20,000 price tag by year end

At the time of writing, bitcoin has just surpassed the US$13,000 mark. The last time we saw bitcoin reach this price was in December 2017, after which, the cryptocurrency went on to reach its all-time high of nearly US$20,000 in a matter of days. The cryptocurrency market remained bearish for all of 2018, but with the way bitcoin is charging upwards and setting new highs in 2019, it is safe to say that the crypto-winter is behind us already. In the past several years, we have witnessed a… Source link

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Property 

Two Hong Kong banks cut their valuation of used homes as city’s civic unrest threatens to knock property bull run off its footing

Two of Hong Kong’s biggest commercial banks cut their valuation of pre-owned homes in several housing estates in anticipation of declining prices, after the city was rocked for the past month by record number of street protests.HSBC and Bank of China (Hong Kong), two of the city’s three currency printing banks, cut their valuations for used homes in the New Territories and Kowloon by up to 3.6 per cent, according to data on their websites.“Valuations have dropped as a result of the political … Source link

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Singapore 

Threeppy: Daiso’s new $5.80 shop in Funan mall looks set to give Miniso a run for its money, Lifestyle, Singapore News

It even has a cute tagline, “300 and happy”, hence, Threeppy. We’re guessing it alludes to how in Japan, Threeppy sells items priced at 300yen each, which is less than $4.  The brand is hoping to attract family shoppers in Singapore, according to NNA Business News report, with women in their 20s to 40s as their main target group. Daiso currently has 22 Threeppy shops in Japan and plans to add 30 stores every year. We personally have not stepped into a Threeppy store in Japan, but from the products captured on its official…

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A shareholder’s stake sale plan stops the bull run in China’s best-performing brokerage stock CSC Financial

The bull run in CSC Financial, this year’s best performer among China’s brokerage stocks, was stopped in its tracks as a disposal plan by its fourth-biggest shareholder raised concern that the country’s financial-services companies may already be overvalued.Citic Securities, China’s largest public traded broker, said it plans to sell 427 million shares, or 5.6 per cent of CSC Financial, in the secondary market in the next six months to meet its operational needs, according to a June 25… Source link

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