China 

China's January passenger car sales in biggest drop in seven as worries over economy, spending deepen

China’s passenger car sales fell 17.7 per cent last month from a year earlier to 2.02 million units, marking the lowest January sales since 2012.Data from the China Association of Automobile Manufacturers showed that there was a 15.8 per cent decline in total vehicle sales in China in January to 2.37 million units.It is the seventh straight monthly decline in the world’s largest car market, and adds to wider concerns over domestic consumption and economic growth.Global carmakers such as… Source link

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‘Micro-home’ project T-Plus in Tuen Mun halts sales drive amid lacklustre buyer response

T-Plus, the residential project in Tuen Mun made up of micro homes smaller than a car parking space, said on Friday it will suspend sales with immediate effect, without providing a reason for the halt. The project, co-developed by mainland developer Jiayuan International Group and local developer Stan Group, announced the freeze after having sold just two units in the 356-unit project since its launch on November 29. On Thursday, AVA 228 a micro-home project in Sham Shui Po debuted its price list for an initial batch of 50 units,…

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As China gets used to buying on credit, it remains important for GM financing arm even as new car sales soften

As concerns are increasing about rising delinquency rates among car buyers in the United States, GM Financial, the car loans arm of US carmaker General Motors, is increasingly looking to mainland China for potential growth. Not only is China the world’s biggest market for car purchases, but Chinese buyers make larger down payments and pay off their loans quicker than their US counterparts when they borrow money for new or used cars. Beijing, pushing its electric vehicle market, is making it harder for start-ups to enter as it fights overcapacity…

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Hong Kong, China stocks fall as dramatic slump in US retail sales hits markets

Hong Kong and China stocks got off to a poor start on Friday after a dramatic fall in US retail sales, and a resurfacing of scepticism over a possible trade deal being reached dragged markets down. The Hang Seng Index, Hong Kong’s benchmark, slumped by more than 300 points within a quarter of an hour of the market opening before clawing back some ground to trade 0.81 per cent, or 230.84 points, lower at 28,201.21. In mainland China the CSI 300, which tracks blue chips listed in Shenzhen and Shanghai,…

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Vietnam 

Supermarkets dominate essential product sales – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Supermarkets are the top choice for consumers seeking to buy essential products, stationery or household goods followed by convenience stores (including groceries), a survey by the High Quality Vietnamese Product Business Association has found. Sales of certain items have reduced at traditional markets, but they still dominate in sales of fresh foods, it said. Though online shopping still accounts for a small proportion of retail sales, it has grown significantly, especially in the case of garments, cosmetics, stationery, and electronics and…

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Remember that ‘Chinese boycott’ of Canada Goose down jackets because of Meng Wanzhou? Revenue numbers show it didn’t happen, with sales rising, and forecasts up

Canada Goose Holdings Inc boosted its annual forecast for the second time in six months, signalling its premium down parkas remain popular with Chinese shoppers amid a diplomatic spat between China and Canada and calls for a boycott of the brand. Based on the “strength” of the nine months ended on December 31, Canada Goose said revenue would rise in the mid-to-high 30s on a percentage basis, compared with a November forecast of at least 30 per cent. Last quarter, sales climbed 50 per cent to C$399.3 million (US$301 million),…

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Vietnam 

Gold shops prepare for sales surge – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Gold demand is expected to surge today, the God of Wealth Day which falls on the 10th day of the lunar year. Legend has it that the god returns to heaven on this day every year, and people think buying some gold brings good luck and prosperity throughout the year. Gold and jewellery companies have stocked up on gold pieces with the words Phúc (Happiness), Lộc (Prosperity) or Tài (Wealth) and the images of the 12 animals of the zodiac inscribed…

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Vietnam 

Hòa Phát construction steel posts sales hike – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Hòa Phát is aiming for consumption of 3.3 million tonnes of construction steel in 2019. — VNS Photo HÀ NỘI — Sales of Hòa Phát construction steel in the first month of this year hit 250,000 tonnes, a 27 per cent year-on-year rise and equal to record sales in October 2018. Hòa Phát Group said steel sales in the central and southern regions accounted for 48,800 tonnes, with the rest in the northern region. Its agents…

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Vietnam 

Hòa Phát construction steel sales post 27 per cent hike – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Hòa Phát is aiming for consumption of 3.3 million tonnes of construction steel in 2019. — VNS Photo Viet Nam News HÀ NỘI — Sales of Hòa Phát construction steel in the first month of this year hit 250,000 tonnes, a 27 per cent year-on-year rise and equal to record sales in October 2018. Hòa Phát Group said steel sales in the central and southern regions accounted for 48,800 tonnes, with the rest in the northern region. Its agents were stocking steel for construction after the Tết…

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Gucci sales soar amid ‘extremely dynamic’ demand for luxury goods in China

Kering’s Gucci label continued to outpace competitors in the fourth quarter, giving another signal that Chinese appetite for luxury goods remains healthy. Fourth-quarter sales at Gucci rose 28 per cent on an organic basis to €2.3 billion (US$2.6 billion), Paris-based Kering said on Tuesday. Analysts had expected 27 per cent growth. The last of the major luxury-goods makers to report for 2018, Kering wraps up an unusually strong earnings season for the industry. The Gucci owner confirmed a trend seen at LVMH and Richemont, which indicated the Chinese are still…

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