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China shares suffer steep falls as expectations diminish for US Fed rate cut in near term

The Shanghai Composite Index fell sharply Monday, as traders fretted that upbeat US jobs numbers make it less likely the US Fed will soon lower interest rates and that a hot new tech board will depress prices of other Chinese shares.The Shanghai benchmark fell in the morning session by 2.5 per cent to 2,937 points. All sectors were down in early trading, led by communication services and information technology, which were both down by more than 3 per cent.Shares of Seazen Holdings – linked to… Source link

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Global 

Singapore exports suffer biggest fall in three years as exposure to Chinese economy, US trade war bites

Concerns over Singapore’s exposure to the Chinese economy mounted on Monday after new data showed that its non-oil exports fell by 15.9 per cent in May, the largest decline for more than three years.Exports to China and Hong Kong slumped by 23.3 per cent and 24.8 per cent from a year earlier respectively, showing Singapore’s vulnerability to fluctuations in regional trade as an important trade and shipment hub for Asia-Pacific.Many of the goods bound for China from other nations pass through… Source link

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While Huawei will be bruised by tech war, some Chinese suppliers could suffer a knock-out blow

Just half a year ago, Steve Liu was optimistic that the looming trade war between the US and China would come to a quick end. After all, he surmised that neither country’s economy could thrive without the other.Today, Liu, a sales executive at a Shanghai-based company that manufactures accessories like wireless chargers, is much less upbeat about things. The US has imposed higher tariffs on Chinese goods, while Huawei Technologies, one of Liu’s customers, has been banned from buying American… Source link

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China 

China’s exports suffer surprise fall in April amid heightened trade war tensions with United States

China’s exports surprisingly shrank in April after a short-lived recovery as fears of an escalating trade war with the United States clouds the economic outlook for the world’s second largest economy.Exports fell 2.7 per cent last month compared with the same period in 2018, a sharp reversal from the 14.2 per cent rise in March.The decline was a surprise, with analysts having expected a 3 per cent increase in exports, according to a Bloomberg survey.Imports, an indication of domestic demand,… Source link

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Swine fever ails more than just China’s favourite meat, with millions of small farmers, exports likely to suffer

One of my more shocking journalistic journeys was made in the mid-1980s, visiting a nondescript factory in the heart of Chongqing. I had asked to explore China’s farming industry, but the ministry of foreign affairs had some difficulties in getting me near an actual farm. Instead, this factory processed all of Sichuan’s pig intestines – 300 million a year.I watched mountains of recently warm intestines stretched along clean metal tables, while one end of each intestine was plugged to a tap in… Source link

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China stocks limp through Friday’s session, suffer biggest weekly decline this year

China stocks ended little changed on Friday, yet they suffered their biggest weekly decline this year, while the Hang Seng managed a modest gain to snap a two consecutive day losing streak.The Shanghai Composite closed a bumpy trading session down 0.04 per cent to 3,188.63, moving the benchmark down 1.78 per cent for the week. The largest previous weekly fall was the week of December 21, 2018, when it lost 2.99 per cent.The CSI 300 finished the session down 0.22 per cent to 3,988.62.Shares… Source link

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Vietnam 

VN stocks turn negative as large-caps suffer from profit-taking – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vietnamese stocks declined on Friday morning as shares of large-cap companies were hit by investors’ profit-taking pressure. — Photo tinnhanhchungkhoan.vn HÀ NỘI — Vietnamese shares edged down on Friday morning as blue chips lost ground on strong selling pressure. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange dropped 0.38 per cent to close at 982.24 points. The VN-Index was up 0.41 per cent on Thursday. More than 77 million shares were traded on the southern bourse, worth VNĐ1.58 trillion (US$68 million). The stock market was dragged down by large-cap shares…

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Vietnam 

VN stocks suffer heavily from strong selling – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Vietnamese shares tumbled on Monday as a sell-off hit local assets on worries over a potential global economic crisis. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange lost 1.89 per cent (18.64 points) to end at 970.07 points. The southern market index plunged 2.05 per cent (20.52 points) last Thursday, bringing its weekly loss up to total 1.54 per cent last week. More than 245.7 million shares were traded on the southern bourse, worth VNĐ5 trillion (US$216.8 million).…

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China’s securities firms suffer a miserable 2018 amid slumping stock market, but analysts expect a better year ahead

China’s securities firms suffered a miserable 2018 as their core brokerage income fell sharply amid the world’s worst stock market decline, financial results showed. But analysts anticipate a better year to come as the central bank’s widely-expected rate cuts to ease monetary conditions rejuvenate stock market trading. The possible launch of a new board for technology companies’ shares in Shanghai could also bring the sector new IPO business. The 27 main listed securities firms had announced their initial financial results for December by Thursday morning. Based on the initial numbers,…

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