Developers Country Garden, Sunac China warn construction, sales may be disrupted as Covid-19 subdues business activity

https://ift.tt/eA8V8J Two of China’s biggest property developers have warned that their sales and construction schedules are likely to be disrupted by a downturn in demand caused by the Covid-19 outbreak.Country Garden Holdings, the largest seller of homes in China, said its building and sales progress may be exposed to short-term volatility as business activities remain […]

World’s costliest offices are poised to enter tenants’ market as Hong Kong businesses reel from coronavirus, protest movement

https://ift.tt/eA8V8J Hong Kong’s notoriously pricey office rental sector is fast becoming a tenants’ market as last year’s protest movement and the current coronavirus pandemic have prompted struggling companies to bail on their leases.A huge increase in firms, from co-working space providers to finance companies and retailers, abandoning their offices before the contracts expire has helped […]

Oil titan PetroChina’s production plan and budget hang in the balance as coronavirus, oil price war cloud economic outlook

https://ift.tt/eA8V8J PetroChina, the nation’s largest oil and gas producer, has deviated from its long-standing practice of unveiling clear production targets when it announces its annual results, as the coronavirus pandemic and an oil price war clouds the global economic outlook.“The oil price’s free-fall since last month has dealt the heaviest blow to our upstream production […]

Mainland developers including Poly Property, China Resources accelerate sales to shore up cash flow to minimise impact of Covid-19

https://ift.tt/eA8V8J Some of China’s biggest developers are set to accelerate sales and shorten their construction cycles to shore up cash flow in response to the economic fallout from the Covid-19 outbreak.Four mainland Chinese builders reported higher profit growth for 2019 on Thursday, but said they are braced for hard times ahead as the deadly epidemic […]

Race for safety in Chinese utilities stocks may bode ill for wider market, history suggests

https://ift.tt/eA8V8J Chinese traders are turning more defensive in the world’s only major stock market that has not slipped into bear territory: snapping up domestic utilities companies.But if history is any guide, this rush for shelter in power companies – seen as a safe bet with their high dividends and stable cash flows – may bode […]

Hong Kong stocks are at their cheapest relative to mainland Chinese equities in two years as Citic Securities predicts 20 per cent gain

https://ift.tt/eA8V8J The global coronavirus pandemic has sent Hong Kong stocks to their cheapest level relative to Chinese equities in two years, a price gap that Citic Securities says may spur a 20 per cent gain in the city’s shares.A gauge tracking the price discrepancy between the two markets showed that Chinese companies trading in Hong […]

Hongkongers relish picking up overseas properties on the cheap as currencies slump amid market stampede

https://ift.tt/eA8V8J Hongkongers are relishing the prospect of picking up global properties on the cheap, as a global market stampede crushed major currencies and emergency rate cuts flattened borrowing costs.The Hong Kong currency is trading at the stronger end of its band through the market carnage, courtesy of its decades-old peg to the US dollar. It […]

US plant-based meat start-up Nature’s Fynd, backed by Jack Ma, Bill Gates, gets new funding from Al Gore as it targets Chinese market

https://ift.tt/eA8V8J Plant-based meat maker Nature’s Fynd said it has recently secured US$80 million of funding from investors including former US vice-president Al Gore, as the four-year old food tech start-up begins production in Chicago and prepares to expand into Asia.The latest equity funding round comes after African swine fever and the more recent coronavirus have […]

Henderson Land, Hong Kong’s third biggest developer, sees challenging year ahead as 2019 profit slumps 26 per cent

https://ift.tt/eA8V8J Henderson Land Development, the third largest developer in Hong Kong, sees a “challenging” year ahead after posting a 26 per cent drop in core profit for 2019.Chairmen Peter Lee Ka Kit and Martin Lee Ka-shing on Monday reported the company’s first set of annual results since taking over last year from their father, Lee […]

Mainland Chinese macro fund that has made 31 per cent this year is hoarding cash

https://ift.tt/eA8V8J The slump in Chinese equities is no buying opportunity for one of the country’s top performing fund managers.“If you buy risk assets now amid this huge market volatility, you’ll easily end up getting buried,” said Lu Jun, founder of private fund Shanghai Congrong Investment Management, which manages US$1.1 billion in assets.Lu, a macro fund […]

Asia markets plunge on growing fears of global recession amid explosive spread of Covid-19

https://ift.tt/eA8V8J Asia-Pacific markets plunged in early trading Monday, with US futures falling on concerns that a deep global recession is building as the worldwide coronavirus death toll rises and the US Congress is at odds over a proposed US$1.5 trillion stimulus package.Oil prices continued falling on expectations the virus will lead to a huge drop […]

Asia markets plunge on growing fears of global recession amid explosive spread of Covid-19

https://ift.tt/eA8V8J Asia-Pacific markets plunged in early trading on Monday, with US futures falling on concerns that a deep global recession is building as the worldwide coronavirus death toll rises and the US Congress is at odds over a proposed US$1.5 trillion stimulus package.Oil prices continued falling on expectations the virus will lead to a huge […]

No respite for Asia-Pacific markets as investors recoil in horror at the explosive spread of Covid-19

https://ift.tt/eA8V8J Asia-Pacific markets plunged in early trading on Monday, with US futures falling on concerns a deep global recession is building as the worldwide coronavirus death toll rises and the US Congress is at odds over a proposed US$1.5 trillion stimulus package.Oil prices continued falling on expectations the virus will lead to a huge drop […]

Victory in bitter family feud for control of Great Eagle, one of Hong Kong’s richest property empires, is bitter sweet for chairman Lo Ka-shui as global recession looms

https://ift.tt/eA8V8J For Lo Ka-shui, his tentative victory in a high-profile family feud over a HK$24 billion (US$3 billion) property inheritance has proved to be something of a mixed blessing.Having seen off an attempt by his mother to win back control of Great Eagle Holdings, one of Hong Kong’s wealthiest property dynasties, he faces the daunting […]

Los Angeles fund Fifth Wall says it will channel some capital from its new property fund into Asian start-ups

https://ift.tt/eA8V8J Fifth Wall Ventures, a Los Angeles-based venture capital firm, plans to invest part of the proceeds from its new US$503 million property technology fund on start-ups in Asia, reflecting the first time it has channelled capital beyond US shores.The firm announced it had closed Fund II to new investors earlier this month after exceeding […]

Sun Hung Kai, Hongkong Land apply to build 11,000 flats on New Territories plot originally slated for 300 villas

https://ift.tt/eA8V8J Two of Hong Kong’s biggest property developers plan to squeeze more than 11,000 homes onto a parcel of land they had originally earmarked for 300 villas, as government schemes to boost land supply face delays.Sun Hung Kai Properties and Hongkong Land Holdings have applied to increase the plot ratio – the gross floor area […]

Is bitcoin becoming the new gold as investors seek shelter from trade war in safe havens?

https://ift.tt/eA8V8J The recent rallies in gold and bitcoin have entered their third week, with spot gold reaching a six-year high of US$1,446.10 an ounce on Thursday and the cryptocurrency hovering close to a year-high of US$10,568 on Friday.There should be very little common ground for the 10-year old cryptocurrency whose abstract existence resides purely in […]

Great Eagle launches Ontolo, first residential project in 29 years, at lowest prices in Tai Po after getting land for record-low five years ago

https://ift.tt/eA8V8J Commercial developer Great Eagle Holdings is offering its first residential project in three decades with prices below the prevailing rate, having secured the land in Tai Po for a record low five years ago.The builder, best known for its portfolio of hotels, is selling flats at the Ontolo project at Pak Shek Kok for […]

Liquor, casino stocks among losers as profit-taking pushes down Shanghai, Hong Kong benchmarks again

https://ift.tt/eA8V8J Mainland and Hong Kong shares fell again Thursday, as traders bailed out of liquor, oil and casino stocks on a day with no big policy news out of Beijing or signs of progress on the US-China trade war.The Shanghai Composite Index fell 1 per cent to 2,901.18, dragged down by information technology stocks, though […]

China, Hong Kong shares little changed on weak sentiment after Trump notes there is ‘a long way to go’ on tariffs if he feels like it

https://ift.tt/eA8V8J Mainland and Hong Kong stocks ended little changed, as the US-China trade dispute returned to investors’ minds after US President Donald Trump raised the possibility of imposing more tariffs – if he wanted. The Shanghai Composite Index on Wednesday fell 0.2 per cent to 2,931.69, with liquor and health care stocks among losers. It […]

China, Hong Kong shares little changed on weak sentiment after Trump notes there is ‘a long way to go’ on tariffs if he feels like it

https://ift.tt/eA8V8J Mainland and Hong Kong stocks ended little changed, as the US-China trade dispute returned to investors’ minds after US President Donald Trump raised the possibility of imposing more tariffs – if he wanted. The Shanghai Composite Index on Wednesday fell 0.2 per cent to 2,931.69, with liquor and health care stocks among losers. It […]

China, Hong Kong shares little changed on weak sentiment after Trump notes there is ‘a long way to go’ on tariffs if he feels like it

https://ift.tt/eA8V8J Mainland and Hong Kong stocks ended little changed, as the US-China trade dispute returned to investors’ minds after US President Donald Trump raised the possibility of imposing more tariffs – if he wanted. The Shanghai Composite Index on Wednesday fell 0.2 per cent to 2,931.69, with liquor and health care stocks among losers. It […]

High-profile defaults highlight risk in China’s shadow-banking sector amid asset deterioration

https://ift.tt/eA8V8J A slew of high-profile defaults in China’s shadow-banking sector has highlighted the acute deterioration of assets in the US$9 trillion market, analysts said.Noah Holdings, one of China’s largest wealth and asset managers, revealed last week that 3.4 billion yuan (US$500 million) of investment in Camsing International is in danger of default, after Camsing’s controller […]

Demand for Hong Kong’s luxury homes slips as trade war, threat of extradition bill rattle wealthy investors

https://ift.tt/eA8V8J The double whammy of the US-China trade war and the threat of a controversial extradition bill that led to weeks of mass rallies in Hong Kong has hit demand for the city’s ultra-luxury homes, new figures show.Property consultancy Savills said enquiries about homes priced between HK$40,000 (US$5,111) and HK$100,000 per square foot fell in […]

Consumer finance lender Home Credit, popular in China, plans to file US$1 billion IPO in Hong Kong

https://ift.tt/eA8V8J Home Credit, a consumer finance lender that counts China as its biggest market, plans to file an initial public offering in Hong Kong later this year, in what could be a potential test of investor appetite in the city’s markets, according to a securities filing.The filing on Monday comes two days after brewing giant […]

Hong Kong, mainland stocks inch up on data showing China’s consumption grew at faster clip than expected in June

https://ift.tt/eA8V8J Hong Kong and mainland stocks closed a bit higher, as data showed China’s retail sales grew at a faster clip than expected in June and news indicated that Beijing’s national expansion of a medicine-pricing programme will not be as tough as pharmaceuticals feared.The Shanghai Composite Index closed up 0.4 per cent on Monday, at […]

Chinese ‘white horses’ issue surprise profit warnings before earnings season kicks off

https://ift.tt/eA8V8J Chinese stock traders are bracing themselves for bad news during the upcoming earnings season after two “white horses” caught investors off guard with their profit warnings.Dong-E-E-Jiao, a Chinese traditional pharmaceutical company, that had posted profit increases for 12 consecutive years, and Han’s Laser Technology Industry Group, once a favourite among foreign investors, said in […]

Deutsche Bank overhaul could see new investments, hiring in Asian operations, APAC chief executive says

https://ift.tt/eA8V8J Deutsche Bank is cutting 18,000 jobs and shuttering its equity sales and trading business worldwide as part of a massive restructuring after years of struggling with profitability, but Werner Steinmueller sees opportunity in the upheaval.The bank’s Asia-Pacific chief executive said the capital released by closing the equity trading operations will allow the company to […]

Bet on Macau casinos, where too much is never enough, stock analysts say

https://ift.tt/eA8V8J Betting on glitzy Macau’s casino stocks is a good long-term gamble, many analysts say – not because of high-rolling big whales but because of the casinos’ new determination to lure wave upon wave of mom-and-pop minnows.“It’s an attractive long-term story for me,” says Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “More […]

Hong Kong stock exchange operator launches inline warrants, first new structured product in 13 years as part of plan to be Asia’s asset management hub

https://ift.tt/eA8V8J The operator of Hong Kong’s tock exchange will introduce inline warrants trading on Thursday, marking the first roll-out of a new structured product in 13 years, part of its three-year plan to diversify into a leading Asian asset management centre.Fifty inline warrants will start trading on Thursday (July 18) on the stock exchange, issued […]

Hong Kong protests fail to dampen demand for micro flats as T-Plus project in Tuen Mun sells 245 out of 344 units

https://ift.tt/eA8V8J The allure of a property “bargain” in Hong Kong may be stronger than concerns about the recent social unrest that has rocked the city if sales of tiny, heavily discounted, flats at a major project in Tuen Mun today were anything to go by.By 6pm on Sunday, 245 of the 344 units on offer […]

Hong Kong protests fail to dampen demand for micro flats as T-Plus project in Tuen Mun sells 245 out of 344 units

https://ift.tt/eA8V8J The allure of a property “bargain” in Hong Kong may be stronger than concerns about the recent social unrest that has rocked the city if sales of tiny, heavily discounted, flats at a major project in Tuen Mun today were anything to go by.By 6pm on Sunday, 245 of the 344 units on offer […]

Hong Kong protests fail to dampen demand for micro flats as T-Plus project in Tuen Mun sells 245 out of 344 units

https://ift.tt/eA8V8J The allure of a property “bargain” in Hong Kong may be stronger than concerns about the recent social unrest that has rocked the city if sales of tiny, heavily discounted, flats at a major project in Tuen Mun today were anything to go by.By 6pm on Sunday, 245 of the 344 units on offer […]

Fog of (Trade) War

After a rollercoaster two months of headlines about trade wars and tariffs, once again the market finds itself in the familiar position of not knowing what to think about the long-term effects of the U.S.-China trade dispute. But it does recognize this: that substantial progress on trade requires much more than an agreement on how […]

A book list for beach reading

Summer officially starts this week, meaning it’s time again for our annual list of book recommendations for beach reading. BlackRock portfolio managers and strategists from around the world recently discussed summer reading picks at our Daily global meeting, a forum where we talk market news, share investment views and debate a topical weekly question posed […]

4 global hotspots to watch

International events seem to matter more than ever for investors. From trade tensions to conflict in the Gulf to increasing populism, geopolitical events have at times roiled the markets in recent years. But geopolitical uncertainty is no reason to avoid international investing, which offers access to world class companies, potential growth and diversification for a […]

The pros and cons of gold

The recent uptick in geopolitical tensions and concerns over a potential growth slowdown has pushed an ancient metal back into the spotlight:  gold. Global investors have increased their positions in gold exchange traded funds (ETFs) by $4.3 billion from May 14th, one day after the S&P 500 Index’s 2.4% trade tension driven drop, through June […]

The pros and cons of gold

The recent uptick in geopolitical tensions and concerns over a potential growth slowdown has pushed an ancient metal back into the spotlight:  gold. Global investors have increased their positions in gold exchange traded funds (ETFs) by $4.3 billion from May 14th, one day after the S&P 500 Index’s 2.4% trade tension driven drop, through June […]

Dividend funds got you down?

For good reason, dividend investing not only has become increasingly popular in recent years, but also has become more efficient through the use of ETFs. With over 300 equity income-oriented mutual funds and ETFs[1] available, identifying and investing in an appropriate dividend fund can be difficult and confusing for even the most sophisticated investor. However, […]

Understanding equity hedges

2019 is fast becoming a year of extremes. After the best start to the year in decades, U.S. equities experienced one of their worst Mays on record. While stocks have subsequently bounced, the damage to risky assets lingers. The Nasdaq Composite and Russell 2000 indexes flirted with correction territory, down 10%, while semiconductor stocks approached […]