HONG KONG: Asian stocks fell on Thursday (Nov 16) pausing the heavy gains made this week, as fresh Chinese data showed prolonged weakness in the property sector and dented some of the recent optimism about a recovery in the world’s second-largest economy. While data released this week showed China’s industrialContinue Reading
JAKARTA: Indonesia booked a US$3.48 billion trade surplus last month, bigger than predicted, as exports and imports fell less than expected, official data showed on Wednesday (Nov 15), bolstering some predictions the central bank could keep rates on hold next week. The October trade surplus, which compares with a US$3Continue Reading
The battered yen was stuck near a three-decade low against the dollar on Tuesday (Nov 14), struggling to find a floor as the Bank of Japan’s (BOJ) ultra-easy monetary policy settings remained at odds with the prospect of higher-for-longer rates elsewhere. The Japanese currency similarly slumped to a 15-year lowContinue Reading
SLOWING DEMAND For the second year running, Singles Day sales should still exceed 1 trillion yuan, said Vincent Marion, co-founder of VO2 Asia Pacific, a consultancy specialising in the digital economy. “However, sales are stagnating due to the change in Chinese consumer habits, which now favour savings. Consumers have becomeContinue Reading
His team encountered resistance from local tax authorities, and ended up receiving a big-ticket fine. “Small and medium-sized business starters are like orphaned children, completely on their own,” Huang said. “They have to struggle for survival in the early stages, and it’s only when they achieve certain results that theyContinue Reading
A state-engineered rescue of Country Garden would be one of the most significant interventions to date by authorities to support the cash-squeezed and highly indebted property sector, which accounts for a quarter of China’s economy. The two sources, who have no information on the bailout talks, said some Country GardenContinue Reading
“FACING LOSSES” While disputes and delays are par for the course for any large developer, and data in China is often incomplete, the court documents shed light on a contrast between the image Country Garden presented publicly and some of its challenges behind closed doors. In a case over allegedContinue Reading
A ransomware attack on the US unit of Industrial and Commercial Bank of China (ICBC) disrupted some trades in the US Treasury market on Thursday (Nov 9) but market sources said the impact seemed to be limited. ICBC Financial Services said in a statement a ransomware attack resulted in disruptionContinue Reading
BEIJING: Chinese carrier China Southern Airlines said on Thursday (No 9) it would honour the sale of tickets priced as cheaply as US$1.30 during a two-hour technical glitch on its mobile phone app and some ticket-booking platforms late on Wednesday. Consumers began reporting on Chinese social media at around 8pmContinue Reading
SHANGHAI/SINGAPORE: China’s securities watchdog is asking brokerages to restrict leverage available to hedge funds that borrow large sums of money via a complex derivative business to trade stocks, three sources told Reuters. Hedge funds using the so-called DMA-Swap strategy were told by their brokers late on Wednesday (Nov 8) toContinue Reading