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Foxconn denies speculation about exiting mainland China amid uncertainty from trade war

Foxconn Technology Group, the world’s largest electronics contract manufacturer, has denied speculation that it planned to withdraw from the Chinese mainland, where the Taiwanese company has more than one million employees, as the trade row between the US and China escalates.“The rumours about Foxconn quitting mainland China is not true,” said the company, formally known as Hon Hai Precision Industry, in a post on its official WeChat account on Monday.The firm said operations at all of its… Source link

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Shanghai exchange moves to curb speculation even before trading starts at Nasdaq-style tech board, introduces suspension rules

The Shanghai Stock Exchange introduced rules to limit speculation on the Star Market, its new technology innovation board, on Friday.Chinese regulators are prioritising stability for the trading debut of the Nasdaq-style market, which was launched on Thursday during the annual Lujiazui Forum. It is expected to start trading within two months, the exchange’s chairman, Huang Hongyuan, said.According to the new rules, shares on the Star Market will be allowed to trade freely for the first five… Source link

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Chinese car stocks accelerate as new tax rules trigger speculation of more support from Beijing

Shares in Chinese car makers surged in late trading on Friday on hopes that Beijing will eventually roll out more supportive policies to bolster the battered industry.The government released specific rules on Friday regarding the implementation of a new vehicle purchase tax, which was approved in December and will come into effect in July. The legislation set the tax rate at 10 per cent, instead of the rumoured 5 per cent the industry had hoped for.Analysts and investors said that even though… Source link

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Stocks Blog: Traders watching appliances, autos for clues on stimulus speculation

Good day traders. We’ll be closely covering the mainland and Hong Kong stock markets for you today. We’ll also bring you insights from experts about where sectors and companies are headed. Check back in throughout the day for updates.  — Zhang Shidong in Shanghai and Deb Price in Hong Kong   Source link

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China waves off speculation it will send in cavalry for shaky property market

China’s central and local officials have a message for the all-important property market: don’t expect the cavalry. During these rocky times for the sector, “stability” is en vogue. On January 21, President Xi Jinping told provincial heads to enact a “long-term mechanism” to ensure the healthy development of the property market. Since mid-January to last week, provincial leaders have moved in line to pledge “stability” in their respective local markets this year. That is meant to put off expectations that cities will ease policy curbs put in place to cool…

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A rebel holdout of Chinese lore fires the first salvo against the state’s year-long crackdown on real estate speculation

A small city in eastern China has begun to relax curbs on residential property, becoming the first local authority out of 50 Chinese cities to reverse the central government’s year-long campaign to cap soaring prices and crack down on speculation. The government of Heze – a fourth-tier city with a population of 8.3 million residents – in Shandong province has cancelled the three-year reselling ban imposed in 2017, and allowed developers to use more capital from their pre-completion sales, according to an announcement circulated by the local authority. “Heze fired…

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Singapore 

Shanmugam says speculation he will be PAP assistant sec-gen ‘off the mark’, Singapore News

SINGAPORE – Law and Home Minister K. Shanmugam has rejected speculation that he could occupy one of the top positions in the People’s Action Party’s (PAP) new central executive committee (CEC). Who occupies the positions of first and second assistant secretary-generals (ASGs) has come under close watch after the party’s internal elections last Sunday (Nov 11). When the 14 elected and co-opted members of the CEC went on stage, Prime Minister Lee Hsien Loong was flanked by Mr Shanmugam on his right and Trade and Industry Minister Chan Chun Sing on…

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