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Hang Seng Index drops by the most in five weeks as Hong Kong’s biggest protest rally in decades finds city on edge

Hong Kong stocks fell by the most in five weeks, as traders pocketed their profits from a recent run-up in prices after the city’s police fired tear gas on demonstrators protesting a controversial extradition proposal.The Hang Seng Index fell 1.7 per cent to 27,308.46, its biggest daily decline since a 2.4 per cent plunge on May 9 amid escalating tensions between the United States and China over trade.“The main issue the market is facing is still the Sino-US trade tussle. We have not seen the… Source link

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China stocks rise most in six weeks as traders hold on to hopes of trade deal after Trump softens hawkish tone

Chinese stocks staged a late rally, with the benchmark gauge rising the most in six weeks, as investors held on to hopes of a trade deal despite the planned tariff increases by the US on imports from the Asian nation.The Shanghai Composite Index climbed 3.1 per cent, or 88.26 points, to 2,939.21 at the close on Friday, while the ChiNext gauge of small-caps in Shenzhen jumped 4.4 per cent. Hong Kong’s Hang Seng Index added 0.8 per cent.The escalating tension between China and the US dominated… Source link

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Singapore 

Older owner of Ah Seng Durian gets 3 weeks’ jail, fine for tax-related offences, Singapore News

SINGAPORE – Shui Poh Sing, 60, who owns a business popularly known as Ah Seng Durian with his brother, was on Tuesday (May 7) sentenced to three weeks’ jail and fined $5,000 for evading taxes. He was also ordered to pay a penalty of $77,077.91. Shui and his brother Poh Chung, 57, had earlier pleaded guilty to not paying taxes, including failing to register for Goods and Services Tax (GST) when their revenue exceeded $1 million. The younger brother was fined $10,000 and ordered to pay a penalty of $46,303.14…

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Singapore 

Third Peeping Tom incident at NTU in three weeks, Singapore News

A third Peeping Tom incident has been reported at the Nanyang Technological University (NTU) in as many weeks. A WhatsApp message circulating among students and seen by The New Paper said the latest incident happened at about 10.15pm on May 1 in the women’s toilet on the third storey of Hall 4 in Block 22. An NTU spokesman, replying to TNP’s queries last Friday, said it is investigating the incident, which was reported by a student. “Our pastoral care team has been providing support to her since the incident,” he…

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Hong Kong’s health insurance and pension saving ‘tax deducting schemes’ find traction in the first two weeks since launch

Two government programmes to encourage individuals to buy private health insurance and save more for retirement have been well received in the first two weeks since launch, providing what could be a long term growth engine for local insurance companies, according to industry players and credit rating agencies.Several major insurers including Prudential, AXA, AIA, Manulife and HSBC Life all told the Post that they have recorded strong sales in the new tax-deductible schemes over the first two… Source link

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Singapore 

Driver involved in Bukit Timah crash which killed friend sentenced to 2 weeks’ jail, Singapore News

SINGAPORE – What started out as a night of merrymaking ended in tragedy for a group of friends when a bus ploughed into a car they were in, killing one of them. The driver of the car, project manager Honami Lam Qixin, 25, was sentenced to two weeks’ jail on Friday (March 29) after pleading guilty on March 14 to causing the death of her friend Jasmine Lim Jia Yan, 23, by negligent driving. She was also disqualified from driving all classes of vehicles for four years. In handing down…

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Singapore 

Burning smell across Singapore should occur less frequently in coming weeks: NEA, Singapore News

SINGAPORE – The burning smell which has been reported across the island over the past two months may soon occur less frequently, said the National Environment Agency (NEA) on Thursday (March 28). On Feb 8, residents living in several parts of eastern Singapore, including Tampines, Bedok and Pasir Ris, reported a “strong burning smell” similar to haze. The source of the smell was later traced to a landfill fire in south-eastern Johor, which was later extinguished. Complaints about the smell continued through mid-February and March, however, due to other fires…

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China’s world-beating stocks rally fizzles out as benchmark closes below 3,000 for first time in two weeks

The world-beating run-up on Chinese stocks faltered on Tuesday, with the benchmark Shanghai Composite Index falling back below the 3,000-point level on mounting concern that the rapid share-price gains had outstripped an improvement in fundamentals.The Shanghai Composite retreated 1.5 per cent, or 45.94 points, to 2,997.10 at the close, extending a 2 per cent slump on Monday. It was the first time the gauge had closed below the 3,000-point milestone in two weeks. Hong Kong’s Hang Seng Index… Source link

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Singapore 

Khaw Boon Wan ‘fully prepared’ for surgery on fractured arm, says recovery can take several weeks, Singapore News

SINGAPORE – Transport Minister Khaw Boon Wan will be undergoing surgery on his fractured left arm on Friday (March 1). Mr Khaw, 66, thanked well-wishers in a Facebook post on Wednesday, adding that he was “fully prepared for the upcoming surgery”. He said that he would have to be patient in getting better, as “the bones’ recovery can take several weeks”. “I’m in the best of hands and looking forward to a full recovery,” he added. Mr Khaw is warded in Singapore General Hospital. In his post, Mr Khaw said…

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Vietnam 

Shares to grow slower in two weeks on volatility worries – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – Vietnamese shares are forecast to rise at a slower pace over the last two weeks of the year amid worries about volatile global markets and falling domestic purchases despite the upcoming quarterly earnings season. Việt Nam’s two exchange indices – the benchmark VN-Index and the HNX Index – have performed well since mid-November, but their growth has shown signs of slowing in the year-end. The VN-Index on the Hồ Chí Minh Stock Exchange on Friday fell 0.85 per cent to close…

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