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World-beating rally in mainland China stocks hits speed bump amid sell-off in once hot agriculture shares

A world-beating rally in mainland Chinese stocks stuttered on Wednesday, as traders offloaded holdings in agricultural companies, one of this year’s best-performing sectors, to lock in profits.In mainland China, the Shanghai Composite Index dropped by less than 0.1 per cent, or 0.34 points, to 3,090.64 at the close, almost reversing a decline of as much as 1.2 per cent in volatile trading. In Hong Kong, the Hang Seng Index fell for the first time in five days, as Xiaomi and Meituan Dianping… Source link

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Investors fret about Xiaomi’s game plan, sending shares tumbling

It was another painful day for Xiaomi, as investors bailed out after its latest earnings report, leaving the smartphone maker with a clear message: come up with a quicker game plan.Shares of Xiaomi fell nearly 5 per cent on Wednesday – the first trading opportunity for investors to grade its latest results. That left its shares down a jaw-dropping 32 per cent since it listed in June.Xiaomi has become a successful smartphone maker by selling them cheaply – its shipments have been ranked the… Source link

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Nuclear shares soar after China plans to invest US$12 billion in new reactors for first time since 2016

Nuclear power related shares soared across the board on Tuesday in Hong Kong and China after Beijing announced plans to invest 81.2 billion yuan (US$12 billion) in four new reactors for the first time since 2016.CGN Mining, a unit of state-owned China General Nuclear Power Group (CGN) that trades in uranium fuel, jumped 15 per cent to 38 Hong Kong cents in Hong Kong. CGN Power, a nuclear power station operator under CGN, also climbed 3.2 per cent to HK$2.27, extending a four-day winning streak… Source link

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China 

Hong Kong shares gold for world’s most expensive city, alongside Paris and Singapore, survey says

Hong Kong and Paris are now tied with Singapore as the world’s most expensive cities to live, according to a survey by the Economist Intelligence Unit.Hong Kong moved up three places globally to join Singapore, which has been the world’s most expensive place to live for the last five years. It is the first time that three cities have been tied for first place in the survey.Paris, Singapore and Hong Kong are all 7 per cent more expensive to live than New York, the benchmark city. The Worldwide… Source link

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Vietnam 

ACB to offload shares at 65-year old ice-cream company – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A Thủy Tạ restaurant in Hà Nội. Asia Commercial Bank has registered to sell its entire stake at Thủy Tạ Joint Stock Company. – Photo cafef.vn Viet Nam News HÀ NỘI — Asia Commercial Bank (ACB) has registered to sell its entire stake at Thủy Tạ Joint Stock Company (TTJ), a 65-year-old ice-cream company in Hà Nội. Accordingly, ACB would sell 300,000 shares of TTJ, equivalent to 10 per cent of TTJ’s charter capital. At TTJ’s price of VNĐ38,600 (US$1.7) per share traded on Tuesday, ACB would collected…

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China’s stock benchmark rises to 9-month high as nuclear power shares rally on new projects

China’s stocks rose to a nine-month high on Tuesday, as China Nuclear Engineering led nuclear power equipment makers higher on news report that the government will start construction of nuclear power projects for the first time in three years.The Shanghai Composite Index rose as much as 0.4 per cent in intraday trading to 3,109.13 in morning trading, set for the highest close since June 7. Hong Kong’s Hang Seng Index was little changed.The rise of the mainland’s benchmark to the new high came… Source link

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Vietnam 

Cash flow pushes shares up – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The markets had a good start on Monday, witnessed exciting movements among large stocks with cash pouring into most sectors. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange climbed 0.77 per cent to close at 1,011.86 points. The southern market index climbed 1.91 per cent last week to end at 1,004.12 points on Friday. More than 230.5 million shares were exchanged on the southern bourse, worth VNĐ5.35 trillion (US$229 million). Large-cap stocks performed well, boosting the blue-chip VN30…

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Vietnam 

Vinamik offers to purchase GTN shares for Mộc Châu Milk – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – Việt Nam Dairy Products Joint Stock Company (Vinamilk) has offered to purchase more than 116 million shares of GTNFoods Joint Stock Company (GTN) as GTN indirectly holds shares in Mộc Châu Milk. According to the document sent to the State Securities Commission on the purchase, Vinamilk has offered to buy a maximum of 46.68 per cent of GTN shares, or 116.71 million shares, with a price of VNĐ13,000 per share. Vinamilk estimates to spend about VNĐ1.5 trillion (US$64.5 million) on the deal.…

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Vietnam 

ACB may sell treasury shares to raise capital: HSC – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Asia Joint Stock Commercial Bank (ACB) plans to propose shareholders approve its plan to sell 41.4 million treasury shares to raise charter capital. — Photo ACB Viet Nam News HÀ NỘI — Asia Joint Stock Commercial Bank (ACB) plans to sell treasury shares to raise charter capital in 2019. According to the bank’s financial report 2018, there are 41.42 million treasury shares at present. HCM City Securities Corp (HSC) said in a recent note that the bank will likely sell those treasury shares to improve its…

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