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Stocks Blog: Traders look to more policy support after China data disappoints

Good day, traders — Several dozen small retailers in Hong Kong are likely to shut shop as soon as the end of this month due to plunging sales that could lead to thousands of lay-offs as protests frighten away tourists, Holly Chik reports. It can be eerie walking by empty shops but for clerks here in Hong Kong. The city reports its unemployment rate for August after market close.   We’ve got you covered on all the big moves and news in Hong Kong and mainland China markets. If you would like……

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Global 

China outstanding bank loans fell in August, backing new moves to boost credit to support economy

The growth in China’s outstanding bank loans fell again in August, supporting the central bank’s decision to start easing credit conditions and suggesting further steps ahead to support an economy pressured by the trade war with the United States.The country’s commercial banks extended 1.21 trillion yuan (US$170.22 billion) in new loans in August, in line with expectations and higher than the 1.06 trillion yuan in July, according to data released by the People’s Bank of China on Wednesday… Source link

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Trump’s China tariffs find scant support in the market where they do business: AmCham survey

An increasing number of US companies operating in China are opposed to the trade war, which is hurting their business outlook from revenues to investment, according to a survey by the American Chamber of Commerce in Shanghai.Some 75 per cent of US firms disagree with US President Donald Trump’s use of tariffs to resolve the trade dispute, compared with 69 per cent last year, the chamber said in its 2019 China Business Report released on Wednesday. Still, almost a quarter thinks the US should… Source link

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Vietnam 

VN stocks fall amid lack of support – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Pan Group’s confectionery plant. The company’s shares helped boost the food and beverage sector on Tuesday. – Photo vietnamfinance.vn HÀ NỘI – Vietnamese shares fell along with global stocks worried about the world economic recession amid a lack of supporting information among local firms. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange dropped 0.40 per cent to close at 970.26 points. The VN-Index has lost total 1.40 per cent since the beginning of September. More than 161.4 million shares were traded on the southern market, worth…

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Without 5G support, new iPhones may struggle in China’s cutthroat smartphone market

For self-proclaimed iPhone loyalist Sam Zhang, he must soon decide on whether to continue using Apple’s flagship product or switch to a Chinese-brand smartphone. The X factor: 5G.“I typically use an iPhone model for two to three years,” said the 25-year-old Zhang, who has an iPhone 7 Plus and works for a foreign company in the southern coastal city of Shenzhen. “So if I buy the new iPhone 11, I won’t be able to use a 5G data plan for the next two to three years, which would be pretty…

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Vietnam 

Financial mechanisms urged to support start-ups – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    The NATIF should supplement regulations stipulating that start-ups could be eligible to receive the fund’s support, and submit to the Government for promulgation in 2019. — Photo tapchitaichinh.vn HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has asked for financial mechanisms to be built to attract investment into start-ups and innovation activities from both the country’s inside and outside resources. Accordingly, the PM assigned the Ministry of Science and Technology (MoST) to continue implementing the project “Supporting national innovative start-up ecosystems by 2025” (Project 844) by providing support to incubators…

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Hong Kong tycoon Richard Li takes out newspaper ads in support of ‘One Country, Two Systems’ principle, calls for end to protests

Richard Li Tzar-kai, the Hong Kong telecoms tycoon and younger son of Li Ka-shing, the city’s richest man, backed the “One Country, Two Systems” principle in full-page adverts in seven newspapers on Thursday.First among local industry captains to speak after Chief Executive Carrie Lam Cheng Yuet-ngor said on Wednesday she would formally withdraw the controversial extradition bill and set up a platform to examine the causes behind the unprecedented and sometimes violent protests the city has… Source link

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China 

China debt ratio jumps in first half as Beijing abandons deleveraging to support trade war-hit economy

China’s total debt ratio continued to grow in the second quarter of 2019 as the government continued to emphasise support for the economy over efforts to reduce excess debt and risky lending.Even as China’s debt-to-gross domestic product (GDP) ratio surged in the first six months of the year to nearly 250 per cent, there are growing calls among academics and Beijing policy advisers for the country to further loosen its purse strings further to counter the headwinds from the trade war with the… Source link

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Pinduoduo targets greater logistics support for merchants, rivalling Alibaba’s Cainiao

Pinduoduo, China’s third largest e-commerce company, plans to establish its own logistics data network to speed up deliveries as it competes with market leaders Alibaba Group Holding and JD.com.Supported by artificial intelligence (AI) and big data technologies, the new operation will offer services including route planning, automated warehousing, parcel sorting and specific systems to improve fresh produce deliveries, according to Shanghai-based Pinduoduo.“Before we started to fulfil our own… Source link

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Vietnam 

Vingroup to support science and technology projects – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Representatives of Vingroup Innovation Foundation and projects leaders at the sponsor signing ceremony. — Photo courtesy of Vingroup HÀ NỘI — Vingroup Innovation Foundation (VINIF) on Monday announced VNĐ124 billion (US$5.32 million) in investment for 20 science and technology projects. After six months of announcing funding for science and technology oriented projects, VINIF has selected the top 20 projects from nearly 200 registration documents. These are excellent and ground-breaking projects, bringing practical benefits in important areas such as big data, biomedical science, genetics, materials science, smart traffic, IoT, image recognition and…

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