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Buyers shrug off Hong Kong rallies to snap up Aurora flats in Tsuen Wan, offered at 10 per cent discount to the neighbourhood

Homebuyers shrugged off a downpour and Hong Kong’s 11th week of street protests to snap up the flats offered at a discount by Billion Development & Project Management in Tsuen Wan.Billion sold 300 flats, or 85 per cent of the 354 available units on offer at The Aurora as at 5pm, sales agents said, adding that they expect the project to sell out by the end of the day.Prices at The Aurora start at HK$3.81 million (US$485,720), or HK$17,558 per square foot, for a 217-square foot (20 square metre)… Source…

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Chinese consumers shrug off impact of trade war on economy with increased spending to improve quality of life

China’s consumers, among the world’s biggest spenders on goods and services, appear determined to spend their way through their nation’s slowest economic growth pace in decades, even as Beijing’s tit-for-tat tariffs on US products add to the cost of imports.One in three consumers said they were spending more money on consumer goods and services, and one in five said they would increase spending over the next 12 months, according to a UBS survey of 3,000 respondents in May. Both responses were… Source link

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China’s stock benchmarks decline for the third day as investors shrug aside rising industrial profits for the next growth driver

The stock indexes of Shanghai and Shenzhen declined for a third day on Monday, as investors sold their holdings ahead of the end of the first-quarter corporate earnings season, even after better-than-expected economic data.The Shanghai Composite Index closed 0.8 per cent lower at 3,062.50, while the benchmark gauge on the Shenzhen exchange fell 2.4 per cent to 1,625.62. The Nasdaq-style ChiNext Index declined 2.6 per cent. Turnover shrank to 646 billion yuan (US$96 billion), easing back from… Source link

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Property 

First mix-use land plot at former Kai Tak airport runway gets the collective shrug from developers as property market cools

Hong Kong’s government received a lukewarm response in its sale of the first commercial land plot on the former Kai Tak Airport’s runway, as developers refrained from building offices and hotels in an area that lacks amenities, while the overall property market was cooling. Six bids were received when the call for tender closed on Friday, from Sun Hung Kai Properties, CK Asset Holdings, Great Eagle Holdings, K&K Property, Sino Land and the Far East Consortium, according to agents and valuers familiar with the submissions. The oceanfront plot, located near…

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China 

China’s September FDI figure rises as foreign investor shrug aside concerns of trade war

Foreign direct investments rose by 8 per cent in China in September, as investors shrugged aside concerns of the country’s ongoing trade war with the US and put more money into local businesses and projects. Investments rose to 636.7 billion yuan (US$97.8 billion) in the first three quarters of this year, 2.9 per cent more than the same period in 2017, the Ministry of Commerce said. September’s net inflow was 76.27 billion yuan, compared with a 1.9 per cent increase in July, and a 14.9 per cent surge in July.…

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