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Chinese stock market’s fast and furious April was rooted in fear of a monetary policy turn

The Chinese stock market experienced a “fast and furious” month in April. The market kicked off the month on an optimistic note following the release of stellar Purchasing Manager Index figures. Many investors were hoping for another bull market, but quickly the major stock indices erased almost all the monthly gains towards the end of April. What caused this roller-coaster ride?At first glance, the pullback does not make sense as China reported quite decent gross domestic product growth and… Source link

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China’s ‘996’ work culture should not turn into Charlie Chaplin’s Modern Times

As a university researcher, I often work “997” – 9am to 9pm, seven days a week. Ten years ago, I left another 997 job as a junior lawyer and decided to embark on a PhD at Oxford. I rarely question my motivation to work 997 these days, even on a paycheck that is one-third of what I received in my former corporate jobs. Jack Ma, founder of Alibaba, which owns the Post, is right when he said: “If you find a job you like, the 996 problem does not exist;…

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Chinese turn M&A sights on Europe as US deals come under scrutiny, Credit Agricole executive says

Europe remains an attractive investment destination for Chinese companies even as scrutiny of Chinese-backed deals has risen in recent years, particularly in light of the ongoing trade war with the US, according to a top French banker.“We see a lot of clients that identify in Europe a lot of opportunities and who have the financial strength and the expertise to be successful in Europe,” said Jacques Ripoll, chief executive of Credit Agricole’s corporate and investment banking arm. “Every… 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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Hong Kong investors turn to outer London areas in search of growth potential

Hong Kong property investors remain interested in London but are increasingly looking at either high-end properties in the city centre or at non-prime areas, agents said.A weak pound and low interest rates are helping to offset an ­increase in stamp duty implemented in 2016, keeping interest in the city alive.“Apart from the very central locations, we are actually seeing some buyers are interested in those much cheaper options,” said Mandy Wong, head of international residential at JLL in Hong… Source link

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Southeast Asia’s biggest budget carrier plans to turn airasia.com into online mall for travellers

AirAsia, whose website is used by 65 million customers every month, is considering a plan to sell tickets of non-competing carriers on airasia.com, using its size to give online travel agents a run for their money.The Kuala Lumpur-based carrier, Southeast Asia’s largest airline group, which already sells car rentals, accommodation at half a million hotels and serviced apartments worldwide and holiday packages in five regional destinations, thinks it can do a better job of selling these services… Source link

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Money 

Can cheaper drugs help home-grown labs turn the table on foreign Big Pharma in China’s cancer treatment market?

A scientist transfers fluids into a tube at the Driver Inc. laboratory in Shantou, China, on Wednesday, August 29, 2018. A pair of Harvard-trained American oncologists behind the startup Driver, backed by Hong Kong billionaire†Li Ka-shing, are attempting to harness technology to revamp cancer care. They’re taking some of their earliest steps in China — cancer’s ground zero. Photo: Bloomberg Source link

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Global 

Central banks must turn to global financial crisis tool box to tackle the next recession, says Fed’s Rosengren

The United States’ central bank may have to dust off some of the tools that helped steer the economy through the global financial crisis a decade ago should another recession hit, Boston Federal Reserve Bank president Eric Rosengren said on Tuesday.With interest rates already low leaving limited room for cuts, the US Federal Reserve would likely have to turn to quantitative easing and other balance sheet tools to stimulate its economy, in the case of a downturn.“I dare say it is important for… Source link

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Yen boost an unwelcome gift from the Fed’s dovish turn

Last week’s indisputably dovish turn by the Federal Reserve prompted a sell-off in the value of the US dollar, including against the Japanese yen. Yet the outlook for the Japanese economy doesn’t look that rosy. Indeed, such are the economic clouds hanging over the Land of the Rising Sun, it is not that easy to make much of a case for the yen. In Japan, the Heisei era will give way to a new imperial age at the end of next month, when Crown Prince Naruhito accedes to the Chrysanthemum Throne…

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Embattled pay TV operator i-Cable makes another attempt to turn around a decade of losses with Guangdong network tie-up

I-Cable Communications, Hong Kong’s biggest pay TV operator, on Tuesday formalised a partnership with Guangdong Radio and Television (GRT) that will allow it to air programmes to the Chinese TV group’s customers.But analysts are circumspect about the benefits of the tie-up on i-Cable’s bottom line, saying it is unlikely to yield any long-term “material” benefit.Irene Leung Shuk-yee, chief operating officer of i-Cable, said that the deal with GRT also involves joint production of TV shows,… Source link

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