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Hong Kong’s stock market has a midsummer’s nightmare as fundraising dries up in worsening trade war and street mayhem

Hong Kong’s stock market is going through its worst summer since 2012, as fundraising activity dwindled to a single initial public offering (IPO) in August, while a worsening US-China trade war and deteriorating civic unrest weighed on sentiments.The number of companies seeking to raise capital this year fell by a third to 88 IPOs, with proceeds plunging by 55.9 per cent to US$10.82 billion, from the same period in 2018, according to Refinitiv’s data. July’s listings halved to 15 companies,… Source link

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Singapore 

Google’s Street View mapping of hawker centre stalls could help visibility of halal food vendors , Digital, Singapore News

As Singaporeans, we’ve spent our whole lives looking for and committing to memory the best makan places to hit at hawker centres.  As the biggest search engine in the world, Google has and still is dedicating its entire existence to organising the world’s information. Our foodie culture and the company’s omnipotent technology will soon combine in a new project that seeks to chronicle the country’s beloved hawker centres and the vendors behind the food.  Beyond navigation, detailed and reliable mapping info is helpful. The technological guidance hits another level when a…

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Forget street addresses or GPS coordinates, this start-up thinks three words are all you need

sourcing.quaking.handicaps. sulk.held.raves. nail.hush.lawful.No, those are not gibberish. Those are the addresses for Hong Kong’s Legislative Council, the White House in Washington and Beijing’s Tiananmen Square, respectively, based on the geocoding system developed by start-up what3words.London-based what3words distils locations and complex Global Positioning System (GPS) coordinates into three-word addresses. Founded in 2013, the start-up has split the entire world into 57 trillion 3-metre… Source link

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A year into trade war, Wall Street is the latest front for US suspicions about China

Chinese wealth manager Jupai Holdings started trading on the New York Stock Exchange in July 2015. A large firm investing money for well-off Chinese, Jupai was touted as a growth story for US investors – a way to tap into the budding but fast-growing Chinese financial market.It did not turn out as promised. Just two years later, the Shanghai firm was sued by Ninespot, a California-based video live streaming start-up, for fraud and breach of contract.According to court documents, Jupai failed to… Source link

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Vietnam 

E-wallets’ latest converts: HCM City street vendors – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A juice stall on District 1’s Nguyễn Văn Chiêm Street has QR codes for Momo and GrabPay e-wallet services. – VNS Photo Việt Dũng HCM CITY — From morning to early afternoon Nguyễn Văn Chiêm in HCM City’s District 1 is bustling with food vendors selling breakfast and lunch and customers coming to eat. It is somewhat startling to see some of the vendors accepting payment by scanning QR codes using e-wallets since it is still a relatively new trend among street vendors in the city. …

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Vanke to sell 251 flats in Tuen Mun on Sunday, defying downbeat mood amid trade war, street protests and rising rates

The Hong Kong unit of China’s most valuable property developer said it is putting 251 flats up for sale this Sunday, in a defiant launch against downbeat sentiments amid a worsening US-China trade war and the city’s biggest street protests in two decades.Vanke Property (Hong Kong) will sell 251 units of its Grand Le Pont apartments in Tuen Mun this Sunday in the latest phase of its launch, with prices in the fourth catalogue starting from HK$4.66 million for a 353-square foot unit to HK$9.3… Source link

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Wall Street gripped by fear that Donald Trump’s China tariff escalation will disrupt Apple’s tech supply chain

Investors in Apple’s iPhone and its supply chain are taking no chances when it comes to the next stage of the US-China trade war.Even long-time China bulls such as large investor Thornburg Investment Management are bailing out of Apple and the companies in its supply chain, worrying that new rounds of US tariffs, if imposed, could severely affect the tech ecosystem.In the wake of the last-minute collapse of a deal to end the months-long US-China trade war, the Trump administration threatened to… Source link

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Wall Street whipsawed by Donald Trump’s surprise threat of additional tariffs on Chinese goods

US financial markets took US President Donald Trump’s threat to more than double the tariffs on Chinese goods in stride, clawing back much of the lost ground that greeted investors at the open of trading on Monday.Trump’s surprise tweet on Sunday that he planned to increase tariffs on US$200 billion of Chinese goods to 25 per cent from 10 per cent sent global markets into a tailspin. Whether by design or not, his tweet just before Chinese trade negotiators were due to arrive in the United… Source link

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Singapore 

Eye candy: We talk hip hop with Felix Huang, founder of Asia pacific’s biggest street dance festival, Singapore News

Felix Huang isn’t just a looker. At the humble age of 38, the slender hip-hop educator has already made his mark as one of the forefathers of breakdancing in Singapore. He launched Recognize Studio in 2010 to provide street dance classes for thousands of youths in Singapore, and as a core member of Radikal Forze Crew, helped found Radikal Forze Jam – the biggest street dance festival in the Asia Pacific that saw its latest edition earlier this month. Suffice to say, his passion for dance hasn’t wavered one bit.…

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Apple forecast beats Wall Street estimates as iPhone demand stabilises

Apple projected quarterly sales that topped analysts’ estimates, suggesting demand for iPhones has stabilised after a disappointing holiday period. Shares of the mobile technology giant rose about 5 per cent in extended trading.The company also reported Services revenue grew 16 per cent as consumers sign up for an expanding smorgasbord of digital subscriptions. That was just ahead of Wall Street expectations. A new buyback plan also helped.“IPhone clearly was in line or a little bit above… Source link

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