China will strive to hit growth target despite trade tensions

BEIJING: China will keep its economic growth within a reasonable range and achieve this year’s target despite challenges, the state-run Xinhua news agency said as a trade war with the United States intensifies. The world’s second-largest economy has already felt the pinch from Beijing’s multi-year deleveraging drive that has driven up corporate borrowing costs and […]

Bitcoin climbs past US$8,000 as ETF speculation fuels renaissance

HONG KONG, July 24 — Hope springs eternal, especially for Bitcoin diehards when it comes to the prospects for the first cryptocurrency exchange-traded fund. The largest virtual currency has rallied about 40 per cent since the start of July, in…

Stronger American payrolls offset trade worries

Fundamental Outlook THE US manufacturing and services indexes improved in both sectors. Payrolls increased and lifted the stock market. China maintained its growth track as reported by Caixin report. UK construction and housing reports fared strong, relieving worries of Brexit threats. The US ISM manufacturing index rose to 60.2 in June, reaching its highest in […]

Asian factories lose momentum even before Trump’s tariffs kick in

HONG KONG, July 2 — Asian exporters lost momentum last month even before tariffs on US and Chinese goods kick in this week, pressuring regional factory activity in a worrying sign the Trump administration’s “America First” protectionist…

ECB to announce tapering plan

Fundamental outlook THE European Central Bank (ECB) will be holding a press conference to announce details to its plan to taper stimulus. The US Nasdaq Composite Index reached a new high while other stocks struggled. China’s inflation growth remaiend steady as its trade surplus slowed down. US ISM services index grew 58.6 in May, higher […]

US saw strong growth, payrolls rise 223,000

Fundamental outlook US recorded higher payrolls in May while its gross domestic product (GDP) registered strong growth. There’s a high chance another rate hike would be announced after the upcoming Federal Open Market Committee (FOMC) meeting. The eurozone consumer prices grew while Italy’s sovereign debt declined after the political risks emerged. UK’s manufacturing saw an […]

China’s trade imbalance with US reportedly a long-term problem, says central bank governor

BEIJING, May 7 — China’s “huge” trade imbalance with the United States is a structural and long-term problem and should be viewed with rationality, the Chinese central bank governor was quoted as saying by financial magazine Caixin. Yi Gang,…

China service sector growth picks up in April as new business expands: Caixin PMI

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BEIJING, (May 4): Growth in China’s service sector picked up in April as new business and employment grew at a faster rate, a private survey showed on Friday, signalling a solid rise in a sector that Beijing is counting on to maintain economic growth. The Caixin/Markit services purchasing managers’ index (PMI) climbed to 52.9 in April from March’s four-month low of 52.3, though it remained weaker than levels in 2018’s first two months. The 50-mark separates growth from contraction. The findings were similar to those of an official gauge ofRead More

The Trump effect may finally be weighing on China’s exports

BEIJING, May 2 — China’s exporters may be finding it harder to avoid the effect of trade disputes with the US, according to the freshest manufacturing purchasing managers index data. While the official manufacturing gauge and a private…

China retaliates by imposing import tariffs on US products

Fundamental outlook IN response to US’ threats to impose heavy tariffs on China’s products imported into US, China raised its import tariffs on American goods. US weekly claims grew to highest in 12 weeks. Non-farm payroll grew 103,000 below forecast which shocked market. UK recorded a slowdown in its building and services index. The US […]