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China’s stock benchmark drops from one-year high as carmakers weigh on sentiment

China’s stocks fell from a one-year high, as carmakers ran out of gas following a rally spurred by speculation about government stimulus to bolster car salses.The Shanghai Composite Index dropped 0.4 per cent, or 12.92 points, to 3,250.20 at the close on Thursday after rising to the highest level since March 2018 a day earlier. A gauge tracking auto stocks slumped 1.9 per cent after surging 7 per cent over the past two days, according to data provider Shanghai DZH. Hong Kong’s Hang Seng Index… Source link

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Stocks Blog: China's surging credit data brightens stock outlook

Welcome back to the SCMP’s live stocks blog. Each day, we cover the mainland and Hong Kong markets closely, telling you what is happening and why. We also feature our “Crystal Ball,” in which leading experts offer you their insights on where they think sectors and companies are going. We hope you will check in with us many times a day, to keep up with the latest action and better learn these incredibly important markets. Your market guides today will be Zhang Shidong in Shanghai and Deb… Source link

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Murder and mafia hog headlines in a stock market hobbled by misconduct

Increasing instances of criminal activity by controlling shareholders of listed mainland Chinese companies highlight the unexpected risks linked with the world’s second-largest stock market, as it opens up further to foreign investors.“The controlling shareholder is the most powerful person in a listed company. To some extent, the value of a listed company is largely related to the value of this shareholder. Thus any accident happening to the person will directly affect share prices,” said… Source link

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Hong Kong body slams Japan to win back title of Asia’s second-largest stock market

Hong Kong has unseated Japan as the second-most valuable stock market in Asia.The combined market capitalisation of stocks trading on the city totalled US$5.78 trillion on Tuesday, eclipsing that of US$5.76 trillion for Japan, according to data compiled by Bloomberg.Hong Kong added US$937 billion of market value this year, compared with an addition of US$371 billion for Japan, as its benchmark Hang Seng Index entered the bull-market territory last week. The city’s stocks have been buoyed by… Source link

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Trade war, Brexit and slowdowns in China and Germany are likely to curb the stock market euphoria

World stock markets have had the bit between their teeth since the turn of year, but are investors getting too far ahead of themselves and heading into a new day of reckoning? Too much is already factored into the US and China clinching a trade deal soon and it might be a classic case of “buy the rumour and sell the fact” for many investors questioning the logic of markets heading back towards last year’s all-time highs. Could the stock market’s euphoria soon be upended?There are too many other… Source…

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Mania for China’s hemp-related companies prompts stock regulator to crack down

The global treasure hunt for cannabis-related shares has sparked a rally in a number of Chinese companies and garnered the attention of regulators eager to ward off excessive gains in speculative themes.Marijuana growth and consumption is illegal in China, but cultivation of hemp is allowed in the southern province of Yunnan and in the northern province of Heilongjiang, which legalised the trade in 2010 and 2017 respectively.Though tightly controlled, China is the world’s largest hemp producing… Source link

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Vietnam 

Hà Nội Stock Exchange sets sights eyes modest profit of$13.2m in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The auction of Vinacomin Waterway Transport Joint Stock Company held at the Hà Nội Stock Exchange on November 22, 2018. The northern market regulator earned VNĐ562.5 billion in total revenue and VNĐ307.4 billion in pre-tax profit last year. HÀ NỘI —The Hà Nội Stock Exchange (HNX) eyes VNĐ308 billion (US$13.2 million) in pre-tax profit in 2019, up 0.3 per cent year on year, and VNĐ594.3 billion in total revenue, up 5.66 per cent year on year. The northern securities market regulator also plans to pay VNĐ61.6 billion to the State…

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Chinese brokers take a collective pay cut after a miserable 2018 in the world’s worst-performing stock market

Chinese brokers would rather forget a disappointing 2018.Nearly 70 per cent of Chinese brokerages reported a reduction in employee compensation for last year, with one fifth slashing it by more than 20 per cent, as the industry struggled because of the market downturn and a slowing economy.The compensation includes salary, bonus, and benefits.“Last year was a tough year for the entire industry, as the market slumped amid trade war fears and tightening financial regulations,” said Li Xing, a… Source link

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Shanghai’s benchmark stock index rises to a 12-month high, buoyed by an unexpected pickup in China’s services industry

An investor at a stock exchange in Nanjing, capital of east China’s Jiangsu province on March 4, 2019. Contrary to global conventions, China’s stock market denotes gains and advances in red, and represents losses and declines in green. Photo: Xinhua Source link

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Vietnam 

Construction firm Xuân Mai Corp returns to stock market after six years – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Xuân Mai Investment and Construction Corporation (Xuân Mai Corp) will return to the stock market after being removed in 2013. Xuân Mai Corp would re-debut nearly 55 million shares on the Unlisted Public Company Market (UPCoM) under code XMC, according to the Hà Nội Stock Exchange. In November 2013, the company cancelled its listing on the Hà Nội Stock Exchange to shake up its business organisation. Since its listing cancellation, the company had made some changes to the board of…

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