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US-China trade war turmoil and global economic gloom cast a dark shadow on Asian equity markets

With many investors on their summer holidays, it is natural to think August should be a quiet time for financial markets. But this August has been an exception.One key cause of market volatility has been the intensification of US-China trade tensions, which has rattled investors’ nerves. The trade truce reached by the two sides on the sidelines of the Osaka G20 summit was broken, as US President Donald Trump threatened to slap 10 per cent tariffs on the remaining US$300 billion of Chinese… Source link

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Global 

China, US trade talks resume in Shanghai in shadow of Donald Trump’s angry tweets aimed at Beijing

China and the United States resumed talks on Wednesday morning in Shanghai in the shadow of tweets from US President Donald Trump complaining that Beijing had not started buying American farm products and could not be counted on to agree to a trade deal.US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin did not comment on the progress of the talks during a media photo session with Vice-Premier Liu He.“It’s a beautiful day, it’s really nice,” said Lighthizer,… Source link

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Violence in Hong Kong’s Yuen Long casts long shadow over property projects in New Territories

Mob violence in areas such as Yuen Long will affect demand for new projects in the northern New Territories of Hong Kong, with sales expected to drop 20 per cent this month, Centaline Property Agency said on Tuesday.The number of new homes sold will decline to about 1,200, the agency said. “If social events, such as protests, are happening, their impact is unavoidable,” said Perry Fong, Centaline’s senior sales director. “There is a psychological impact in the short term.”Ryan Ku, client… Source link

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China 

China’s sanctions threat against US firms after Taiwan arms deal casts shadow over Gulfstream’s ‘optimism’

The threat of Chinese sanctions against firms from the United States over arms sales to Taiwan may cast a shadow over Gulfstream’s “optimism in the region”, according to a lawyer whose company has advised the business jet giant.General Dynamics, and its subsidiary Gulfstream Aerospace, as well as Honeywell and Oshkosh Corporation, were named in an article posted an article on the official WeChat channels of both the People’s Daily and state broadcaster CCTV on Sunday, criticising their… Source link

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Property 

Protests cast a shadow on restaurant rents in Causeway Bay and Central

The ongoing protests that have expanded to different districts of the city will hurt restaurants, putting further pressure on landlords to cut rents if the demonstrations persist, say industry observers.In the past six weeks, Hong Kong has been rocked by a series of mass rallies and clashes between protesters and the police, sparked by the now-suspended extradition bill which would have allowed the transfer of fugitives to regions such as mainland China and Taiwan.This resulted in road closures… Source link

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Property 

Protest against controversial extradition bill casts shadow on Hong Kong’s largest property sales since early May

Property sales were disappointing on Sunday in Hong Kong’s biggest offering since early May, as buyers stayed away amid huge protests in the city against a proposed extradition bill, and ongoing concerns over the US-China trade war.Not only is Hong Kong sitting in the middle of a worsening US-China trade war, but also its own political turmoil as protesters took to the streets on Sunday for a third time in a week against a proposed extradition law that would allow suspects to be sent to… Source link

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China 

Trade war casts shadow over China business prospects for US firms like Apple and Boeing

The business prospects in China for American firms like Apple and Boeing are at risk because the mainland is rapidly becoming less welcoming and profitable, amid dampened consumer confidence, slowing growth, and an increasingly watchful state, analysts said.The Chinese government has repeatedly assured investors from the United States that they will be treated fairly in China and have their legitimate interests protected, but recently Beijing has shown its teeth to those firms that it perceives… Source link

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New rule, shadow banking crackdown will increase Chinese banks’ non-performing loan ratios, warns Alvarez & Marsal

New regulations that require mainland banks to recognise problematic loans earlier than their international peers are putting upward pressure on non performing loan (NPL) levels at the same time that a clampdown on illicit credit is underway, according to restructuring and turnaround specialist Alvarez & Marsal.Ronald Thompson, managing director for Alvarez and Marsal Asia, noted that the bad-loan measure among Chinese banks had improved recently, easing to 1.8 per cent in the first quarter… Source link

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China 

China turns attention to jobs as trade war casts shadow over economy, with Li Keqiang demanding jobs for graduates, ex-military and more

Chinese Premier Li Keqiang has vowed to mobilise all resources to create jobs and stabilise the employment market as the China-US trade war threatens to drag on the economy.Chairing a national conference on employment in Beijing on Monday, Li demanded that cadres at all levels make job creation their top priority.The premier said priority should be given to fresh graduates, demobilised military personnel and migrant workers, all of whom faced challenges in the job market.“Supporting employment… Source link

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Health and beauty giant AS Watson opens 15,000th store as CK Hutchison chair Victor Li tries to emerge from father Li Ka-shing’s shadow

Founded almost two centuries ago as a simple dispensary, it is now part of the fabric of Hong Kong, selling everything from beauty products and tissues to snacks and its own brand of bottled water.Watsons is almost as ubiquitous as 7-Eleven, with at least one shop in every neighbourhood of the city. Breakneck expansion into overseas markets has seen AS Watson Group grow into the world’s biggest and fastest growing health and beauty retailer, opening a new store on average once every seven hours… Source link

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