China 

You thought 2018 was bad for China’s stock market? Profit warnings suggest worse may be yet to come

Last year was a dreadful one for mainland Chinese equities as a slowdown in economic growth and the trade war with the US combined to crush market sentiment. The bad news for investors is that the worst may be yet to come. Preliminary announcements showed that 390 companies listed on China’s bourses are set to report a combined loss to the tune of 330 billion yuan (US$49 billion) for 2018. That means the total loss for the country’s listed firms is on track to be three times greater than a…

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Home 

China’s economic reforms are working. The bad news is the pain may get worse

The Chinese economy ended 2018 on a weak note, but not so weak that people now fear growth will fall off a cliff. Gross domestic product growth in the fourth quarter clocked in at 6.4 per cent, the weakest since the first quarter of 2009, but in line with market expectations. The quarterly growth profile, which shows a persistent weakening trend – from 6.8 per cent in the first quarter, to 6.7 per cent, 6.5 per cent and now 6.4 per cent – is indicative of the harsher conditions facing…

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China 

China trade data worse than expected, bad news for economy

China’s export and import figures were much worse than expected in December, underscoring the rapid weakening of the Chinese economy. Monday’s figures suggest the negative impact of the trade war may be greater than Chinese authorities have previously estimated, and suggest the need for a more rapid and larger economic stimulus is needed to stabilise growth. Total exports fell to US$221.25 billion in December, down 1.4 per cent from last month, and 4.4 per cent from the same month in 2017, according to data from China’s General Administration of Customs.…

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Nissan’s old guard struck back against their ‘gaijin’ saviour, and Japan Inc may be the worse for it

The Empire has struck back. Japan Inc and Nissan Motor last week struck back against the French government, carmaker Renault and Carlos Ghosn. The narrative spun by Nissan and apparently condoned by Japanese authorities is that the former high-flying head of the Nissan-Renault-Mitsubishi Motor alliance abused his position to enrich himself. The truth appears to be rather different and it seems certain to come out as “L’Affaire Ghosn” unfolds. It threatens to do at least as much damage to the reputation of the government and industry alliance known as Japan…

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Singapore 

Man sends e-scooter for repair, but gets it back in worse condition and is asked to pay more, Singapore News

A Stomp contributor paid for his e-scooter to be fixed, but ended up receiving it back in even worse condition and having to pay more than what he originally agreed to. The Stomp contributor alerted Stomp of this incident after reading a previous article regarding a deliveryman who paid a $70 deposit for an e-scooter, but ended up only receiving parts of it. The Stomp contributor believes that he had encountered the same “e-scooter professional”. On May 28, the Stomp contributor saw his neighbour, Steve, at the void deck of…

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China 

China’s top leaders prepare for worse as economy takes hits from US trade war

China’s top leadership has outlined a new game plan for the private economy and the stock market as the country braces for further hits to the economy from the trade war with the United States. The Communist Party’s Politburo, the 25-member supreme policymaking body headed by President Xi Jinping, agreed on Wednesday that there was “growing downward pressure” on the economy with “profound changes” in the external environment, state-run Xinhua news agency reported. The statement was a shift from three months ago when the Politburo said there was “noticeable” changes…

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Home 

If you think 2018 has been challenging for China’s economy, next year may be worse

A further slowdown in the Chinese economy has seen real GDP growth in the third quarter slip to its lowest level since the first quarter of 2009, the height of the global financial crisis. This is testament to the scale of economic challenges confronting Beijing. Contrary to popular belief, the current economic slowdown has little to do with the Sino-US trade war, which has captured most people’s attention this year. Rather, it is driven by an acute weakening of domestic demand as a result of previous domestic policy tightening. Indeed,…

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Home 

Bloomberg survey offers insight into who will fare worse in US-China trade war

A greater number of global white-collar workers believe the US will suffer more than China as a result of the intensifying US-China trade war, a Bloomberg survey has found. As many as 20 per cent of mid to senior-level company employees around the world think the trade war will hit the US harder than China, while 14 per cent believe China will be the bigger casualty, the survey showed. Another 34 per cent believe the trade war will hamper global growth broadly, while 13 per cent think it will reset…

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China 

Donald Trump threatens fresh round of China tariffs as he claims Beijing’s meddling is worse than Russia’s

US President Donald Trump threatened to impose another round of tariffs on China and claimed that Chinese meddling in US politics was a “bigger problem” than Russian involvement in the 2016 election on Sunday. Asked in an interview with CBS’s “60 Minutes” whether he wants to push China’s economy into a depression, Trump said “no” before comparing the country’s stock-market losses since the tariffs first launched to those in 1929, the start of the Great Depression in the US. “I want them to negotiate a fair deal with us. I…

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Singapore 

Alcohol abuse worse among younger people in Singapore, Singapore, Health News

SINGAPORE – The young man woke up in his bed one morning to find himself surrounded by chocolates. He had blacked out after a night of heavy drinking and had no recollection of how he had got home with his bounty. The young man, who does not even like chocolates, suspected that he might have stolen them and was lucky not to have been caught. Mr Lawrence Tan, a psychologist, related this anecdote to show how excessive drinking can lead to individuals committing a crime without being aware of it.…

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