China 

China asks state-owned ‘national champions’ to help ‘stabilise’ economy, boost profits by 9 per cent in 2019

China’s biggest 97 industrial conglomerates, known as the country’s national champions, have been asked to play their part as “stabilisers” in the national economy in a bid to offset the trade war with the United States by boosting their profits by 9 per cent in 2019, according to the state-owned Xinhua News Agency.The State-owned Asset Supervision and Administration Commission (SASAC) set the target for the enterprises under its direct control, including state-owned oil and electric companies,… Source link

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Vietnam 

City to stabilise market prices following hikes in gasoline and electricity prices  – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A customer shops at a supermarket in HCM City. The city aims to stabilise market prices after recent electricity and gasoline price hikes. — VNA/VNS Photo Mạnh Linh HCM CITY — HCM City’s Department of Industry and Trade has pledged to help businesses stabilise market prices following hikes in gasoline and electricity prices.  The price of consumer goods in the city in April rose slightly compared to the previous month, with food prices rising by 0.1 per cent and rice products increasing by 0.6 per cent compared to the…

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Vietnam 

PM askes Đà Nẵng, Quảng Nam to stabilise property markets – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Real estate agents seen on a street in Đà Nẵng. – Photo plo.vn Viet Nam News HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has asked the People’s Committees of Đà Nẵng and Quảng Nam to work with the Ministry of Natural Resources and Environment and the Ministry of Finance to devise measures to stabilise their real estate markets. The order was issued amid reported unusual prices hikes in the two localities’ real estate markets. In Đà Nẵng, land prices in many areas have been inflated by…

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Home 

China’s stocks stabilise after falling most in five months as traders await key economic data

China’s stocks stabilised after the biggest plunge in five months, as traders weighed the sustainability of the rally and await more economic data that gives an idea on the performance of the world’s second-largest economy.The Shanghai Composite Index rose 1.3 per cent, or 38.61 points, to 3,008.47 on Monday. It tumbled 4.4 per cent the most since October on Friday after brokerages, including Citic Securities, said investors should sell some stocks with the biggest gains this year.Hong Kong’s… Source link

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Home 

Hong Kong property transactions slump 33pc in February as investors wait for market to stabilise

Property sales in Hong Kong plunged more than 30 per cent year on year in February as investors and homebuyers stayed on the sidelines, unsure whether prices were likely to fall further.A total of 5,002 property transactions for flats, offices and car parks worth HK$41.9 billion (US$5.3 billion) was reported last month, down from HK$62.6 billion in February 2018, according to data from Centaline Property.“Investment sentiment was still quite sour in February, and buyers were reluctant to make a… Source link

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Home 

China joins global central bank gold rush as its foreign exchange reserves stabilise

China has joined a global central bank gold rush in the last two months by increasing its official gold reserves, even though the purchase remains modest compared to the volume of the mainland’s foreign exchange reserves, according to data released by the People’s Bank of China on Monday. The country’s gold reserves rose slightly to 59.94 million ounces at the end of January from 59.56 million ounces at the end of December 2018, marking a second straight month of increase. The latest gold purchase by the world’s second-largest economy came…

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China 

China’s foreign exchange reserves rise for second month as yuan expectations stabilise

China’s foreign exchange reserves rose modestly in December for the second consecutive month as sentiment about the yuan exchange rate remained stable. China’s foreign exchange reserves, its accumulation of assets valued in foreign currencies, rose by US$11 billion in December to US$3.073 trillion, according to data released on Monday, slightly above median forecast of US$3.072 trillion in a Bloomberg survey. Many economists view the change in China’s reserves as a gauge of the People’s Bank of China’s (PBOC) intervention in the foreign exchange market to support the yuan exchange rate…

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China 

Beijing to stabilise the yuan, but intervention to cushion – not halt – currency’s decline, say analysts

Beijing will resist downward pressure on the yuan “for now”, although moderate depreciation in the Chinese currency is probably still on the cards, according to analysts. These comments follow the publication on Friday of a third-quarter monetary policy implementation report by the People’s Bank of China, in which the central bank says it will keep the yuan’s exchange rate at an equilibrium level. In the report, the bank replaces the phrase that it would “increasingly allow market forces to determine the exchange rate” with a pledge to “reinforce macro-prudential management…

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Singapore 

Doctor helps stabilise crash victim near Lau Pa Sat while waiting for ambulance, Singapore News

SINGAPORE – A doctor and a nurse were in their car on their way to see a patient in Jurong when they spotted a man lying on the road near Lau Pa Sat on Sunday night (Oct 7). The man was clearly in need of help, so Dr Shravan Verma – who runs a 24-hour mobile medical service – and the nurse decided to check on him. “Because we go for our mobile medical visits with all of the medical equipment, we thought why not just see how he is…

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Investment 

Chinese airlines climb as central bank steps in to stabilise weakening yuan

Chinese carriers, led by Juneyao Airlines and China Southern Airlines, jumped on Monday after the central bank said it is taking measures to stem a loss in the yuan, spurring optimism that a stronger local currency will reduce their foreign debt burden. In Shanghai, Juneyao Airlines rose 3.1 per cent to 13.25 yuan, China Southern Airlines added 4.5 per cent to 6.97 yuan and Air China gained 3.3 per cent to 7.62 yuan. The benchmark Shanghai Composite Index rose 1.9 per cent as the strengthening yuan also bolster confidence among…

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