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China, Hong Kong markets open lower after protests, start of new tech board in Shanghai

Welcome to a fresh week, traders. China’s new STAR technology board, which starts trading today, is expected to turn into a hotbed for speculators. The end of Sunday’s tense protests ended in violence, with rod-wielding attackers beating demonstrators at a Hong Kong railway station. The protests are weighing on business sentiment in the city, hurting some retail sales, discouraging some Chinese tourists to come, and prompting some foreign investors to think about Hong Kong’s long-term… Source link

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Star Market, a ‘breakthrough in 30-year history of China’s stock market’, gets off to shining start as immediate buying spree takes hold

The Shanghai Stock Exchange’s new Star Market got off to a suitably stellar start on Monday morning as all 25 debutants saw their shares jump.The firms, spanning industries from microchips and biotechnology to artificial intelligence, were greeted by an immediate buying spree as trading opened at 9:30am.Anji Microelectronics (Shanghai) got off to the best start as its shares opened 287 per cent higher than the initial public offering price.The new Nasdaq-style board, which debuted on Monday,… Source link

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US should start manipulating the dollar, Donald Trump says, accusing China and Europe of playing ‘big currency manipulation game’

US President Donald Trump on Wednesday accused China and Europe of playing a “big currency manipulation game”. He said the United States should match that effort, a move that directly contradicts official US policy not to manipulate the dollar’s value to gain trade advantages.In a tweet, the president said that if America does ‘match’ China and Europe, the country will continue “being the dummies who sit back and politely watch as other countries continue to play their games – as they have for… Source link

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Wealthy financial markets must start to pay their way to help the poor, and a global ‘Robin Hood’ tax is the way to do so

The world is crying out for a radical rethink on better ways to bolster global growth, redress income and wealth imbalances and improve the future for all mankind. The major industrial countries have enjoyed a disproportionate share of global economic success for far too long, with less-privileged economies falling further behind the curve.The need for sweeping change is long overdue and a global financial transactions tax, or FTT, may be one way to redress the balance. It is time for wealthy… Source link

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China-backed infrastructure bank AIIB to start local currency financing amid trade war, forex concerns

The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) will soon conduct financing activity in local currencies, in response to significant demand from member countries amid an escalating trade war between China and the United States and related uncertainties, it said on Monday.“From the second half of this year, we are going to start piloting local currency financing, in currencies such as the Indian rupee and the Indonesia rupiah, for example,” Danny Alexander, the bank’s vice… Source link

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Money 

Oil is just the start of China’s Belt and Road interest in the Gulf

The Gulf might not appear on the official map of China’s Belt and Road Initiative, but Beijing’s international infrastructure investment plan is being actively realised in the region. Since Chinese President Xi Jinping launched it in June 2014, various actors from China – including companies, banks, and financial institutions – have established a presence in the Gulf.Securing oil and energy resources is an important component of the belt and road plan’s regional aims, as is the construction of… Source link

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Stocks Blog: Traders start fresh month as China blasts US as 'solely to blame' for breakdown in trade talks

Good morning, traders. Well, it’s the first trading day of June, after the wretched performance of Hong Kong and mainland markets in May. The first day starts amid strong pushback from China against the US on trade, saying the world’s largest economy is ‘solely to blame’ for the breakdown in talks.   “It is regretful and worrisome to see how the US has changed,” the nationalist Global Times wrote in an editorial Sunday. “… (I)t is extremely urgent and vital to calm it down and sober it up… Source link

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Singapore 

Trial of priority MRT cabins for wheelchair users, elderly and expectant mums to start 2020, Singapore News

SINGAPORE – A trial of priority cabins on trains here will begin in 2020 on one of Singapore’s MRT lines, the Land Transport Authority announced on Saturday (May 25). These cabins are meant for people such as senior citizens, expectant mothers and wheelchair users, though other commuters will not be excluded from these cabins. The LTA has not said which of the five current MRT lines the trial will be conducted on. “To further help people who need seats when none are available, we will introduce a new ‘please offer…

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Singapore 

Uniqlo releases new Pokemon T-shirt line: Prices start from $19.90, Singapore News

Pokemon fans in Singapore, you won’t be able to resist this cute collection.  Japanese clothing brand Uniqlo has just released a brand-new T-shirt collection, with a total of 24 Pokemon-inspired designs.  Sales for the shirts will be available online and offline from June 24 and adult sizes will retail at $19.90, while kid sizes are $14.90.  All 24 designs were part of Uniqlo’s global T-shirt design competition and were carefully selected by a panel of judges.  Check out some of the winning designs!  FIRST PLACE: LI WEN PEI FROM CHINA Photo: Uniqlo Li’s…

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Singapore 

Burger & Lobster Singapore to open May 23, lobster rolls start at $40, Singapore, Food News

Jewel Changi Airport has been opened for a little over a month and those who have yet to flock to Singapore’s new icon will have another store’s opening to look forward to. Famed for their namesake, the opening date for Burger & Lobster’s first outpost in Singapore has been announced — May 23. As for the menu, fans of the highly anticipated London-born restaurant can expect a Singapore twist, available exclusively at Jewel. Marrying the restaurant’s signature fresh lobster with the all-time favourite spicy sambal sauce is the Sambal Glazed…

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