China growth slowest since financial crisis as trade war looms - business live
10/19/2018, 7:29:47 AMEconomic growth of 6.5% in the third quarter was the weakest since early 2009 and is expected to slow further as the effects of China’s trade war with the US take hold ✔ Any bounce in Chinese stocks needs to be seen in the context of the three-year collapse in equities ✔ It was the slowest rate since the depths of the financial crisis in the first quarter of 2009, and slightly below economists’ forecasts of 6.6% growth ✔ Stay with us for updates on the latest news from business and markets
A third of Japan Inc hurt by U.S.-China trade war: poll
10/19/2018, 7:11:10 AMThe number of Japanese companies affected by the U.S.-Sino trade war has jumped to a third, soaring from just 3 percent in May with firms fretting about prospects for their exports from China as well as slower Chinese demand, a Reuters poll found. The survey also showed 53 percent of… ✔ Companies responded anonymously to the survey, conducted for Reuters by Nikkei Research ✔ The International Monetary Fund last week lowered its global economic growth forecasts for this year and next, predicting 3.7 percent for both years instead of 3.9 percent, citing trade policy tensions and the imposition of tariffs as a key factor behind the cut
China growth slows to lowest since GFC but don't blame trade war - yet
10/19/2018, 7:38:38 AMChinese economic growth has slowed to its lowest level since the end of the global financial crisis in 2009. ✔ But as the trade war with Trump has flared, and with Chinese companies now facing $US250 billion ($350 billion) in US tariffs on exports, Mr Joske has noticed the language from Chinese officials change quite significantly ✔ In the statements, the Chinese officials said they would support private firms facing financing problems
Trump's trade war is forcing Beijing to retreat from its own anti-debt battle
10/19/2018, 5:46:47 AMChina has been trying to reduce its reliance on debt as well as fiscal and monetary stimulus to fuel economic growth, but the pain of the trade war with the United States is forcing a reversal. ✔ Li-Gang Liu, chief economist for China at Citi, said that a major stimulus announced last month by Guangdong Province, China's export center, that includes tax, land and utilities measures, is a prime example of the new trend in the country ✔ We do think that one of the overriding factors is actually the social stability in China, Heung told reporters on Oct. 10
Asia air cargo market gets e-commerce boost as trade war yet to bite
10/19/2018, 4:50:37 AMStrong e-commerce demand is fuelling Asia's air freight market, with the U.... ✔ Boeing on Monday forecast air cargo traffic would double over the next 20 years, growing at an average rate of 4.2 percent a year ✔ To meet that demand, the aircraft manufacturer expects the world freighter fleet to expand over 70 percent to 3,260 planes ✔ Our Standards:The Thomson Reuters Trust Principles
Trade war hostility may be keeping US-China military relations in a state of friction
10/19/2018, 7:15:45 AMUntil both countries resolve their economic and political differences, defense ties are expected to remain brittle, according to strategists. ✔ Military dialogue can help a bit but neither side is going to make a major move right now because of the basic balance of forces, said Michael J.Green, senior vice president for Asia and Japan chair at the Center for Strategic and International Studies and director of Asian studies at Georgetown University's school of foreign service
Asia shares erase losses as China's market support helps Shanghai...
10/19/2018, 6:34:57 AMAsian stocks clawed back losses on Friday as China's efforts to bolster inv... ✔ The government has been aware of the negative impact from deleveraging and has swung towards easing around June, but the positive impact is yet to be felt, he said ✔ There should be enough funding and if the funds trickle down to public works, we could expect to see positive impact in the next quarter ✔ [GOL/] Our Standards:The Thomson Reuters Trust Principles
Asia Shares Erase Losses As China's Market Support Helps Shanghai Surge
10/19/2018, 7:25:01 AMAsian stocks clawed back losses on Friday as China's efforts to bolster investor confidence helped its share markets rally. ✔ The government has been aware of the negative impact from deleveraging and has swung towards easing around June, but the positive impact is yet to be felt, he said ✔ Reuters (Reporting by Andrew Galbraith, additional reporting by Daniel Leussink and Shinichi Saoshiro in TOKYO and Vatsal Srivastava in SINGAPORE; Editing by Richard Borsuk and Sam Holmes)
China’s economy grows at its slowest pace since early 2009
10/19/2018, 4:57:22 AMSlowing growth and slumping markets are dialing up pressure on Beijing. ✔ China’s stock regulator took additional steps to boost the market on Friday, saying it would help investment funds buy shares in companies and expedite approvals for mergers and acquisitions ✔ For enterprises with strong competitiveness and low substitutability, it can be said that the impact isn’t big, Gao said, while acknowledging that small companies might see fewer orders and production stoppages
China economic growth weakest since 2009, government moves to lift...
10/19/2018, 5:34:01 AMChina's economic growth cooled to its weakest pace since the global financi... ✔ But now some say growth could slow even more dramatically next year ✔ There’s already a big acceleration in lending underway and now the PBOC is announcing new steps ✔ In the end, China will do what it takes to safeguard their economy and show the U.S.: ‘Hey, we don’t need you.’ Our Standards:The Thomson Reuters Trust Principles
Euro weak as Italian budget raises EU political risks, yen weakens
10/19/2018, 4:13:06 AMThe euro hovered near a one-week low against the dollar on Friday as the Europea... ✔ The British pound GBP= hit a fresh 11-day low on Friday, but rebounded slightly to quote at $1.3020 versus the dollar ✔ Traders placed bearish bets on the sterling as a EU-UK summit failed to yield a decision on Britain’s exit from the euro zone ✔ Our Standards:The Thomson Reuters Trust Principles
Japan, EU vow utmost efforts to put free trade deal into force
10/19/2018, 7:20:35 AMJapanese Prime Minister Shinzo Abe and European Commission President Jean-Claude Juncker on Thursday vowed utmost efforts to conclude their domestic procedures by the end of the year to put a bilateral free trade agreement into force at an early date. During their talks in Brussels, Abe expressed concerns about stalled… ✔ The Japan-EU summit meeting took place after EU leaders failed to resolve differences on how to deal with the land border between the British territory of Northern Ireland and the Republic of Ireland at their two-day gathering ✔ Security Council resolutions imposed on North Korea over its nuclear and missile programs to realize the denuclearization of the Korean Peninsula, they said
Fast Europe Open: UK public sector borrowing
10/19/2018, 5:39:57 AMundefined ✔ China reported its slowest quarterly growth figure in almost a decade on Friday, increasing the pressure on President Xi Jinping as his administration contends with the fallout from the continuing trade war with the US ✔ The gross domestic product figure, reported by the National Bureau of Statistics, was slightly lower than projections by many economists and analysts ✔ Chinese stocks were choppy on Friday after regulators spoke out to reassure investors
Swedish truckmaker Volvo beats profit forecast
10/19/2018, 6:54:37 AMTruckmaker Volvo's beat quarterly profit expectations on Friday buoyed by bullish demand for trucks and construction equipment and forecast high levels of demand in its main markets Europe and North America in 2019. ✔ This is an extremely strong report, said Handelsbanken Capital Markets analyst Hampus Engellau ✔ Although this is the best third quarter ever for the group, it does not mean that we have reached our full potential ✔ There is more to do to improve profitability and drive cash flow, CEO Martin Lundstedt said in a statement
China has ample soybean supplies, big price moves unlikely:...
10/19/2018, 5:47:22 AMChina has ample supplies of soybeans and significant price fluctuations are unli... ✔ Some industry experts have predicted that the world’s top soybean consumer will face a shortage of the oilseed early next year, likely driving up prices of a key protein source in animal feed ✔ Beijing imposed a 25 percent tariff on a list of American products including soybeans, in response to U.S. hefty penalties on a list of Chinese goods at similar value ✔ Our Standards:The Thomson Reuters Trust Principles
Global Stocks Tick Higher as Chinese Shares Rebound
10/19/2018, 7:49:36 AMGlobal stocks edged up on Wednesday, buoyed by a rebound in Chinese equities. ✔ The Dow Jones Industrial Average on Thursday fell more than 300 points, or 1.3% ✔ The dollar was broadly flat, according to the WSJ dollar index, which tracks the greenback against a basket of 16 currencies ✔ In commodities, Brent crude oil was up 0.39%, and gold was down 0.28%
Analysts react after Chinese growth misses expectations
10/19/2018, 4:54:25 AMundefined ✔ The release of China’s worst economic growth figures since the global financial crisis failed to rattle currency and equities markets on Friday but analysts were wary about the outlook for the world’s second-largest economy ✔ Scotiabank strategist Qi Gao said macro data had cast a shadow on China’s growth outlook, with social financing also increasing at a slower pace and slower expansion in China’s factory activity
China's real estate investment slows in September as caution sinks in
10/19/2018, 4:29:59 AMGrowth in China's real estate investment eased in September and home sales ... ✔ China’s central bank governor Yi Gang said last week he still sees plenty of room for adjustment in interest rates and the reserve requirement ratio (RRR), as downside risks from trade tensions with the United States remain significant ✔ ($1 = 6.9385 Chinese yuan) Our Standards:The Thomson Reuters Trust Principles
ASX closes week higher despite global equities sell-off
10/19/2018, 6:07:17 AMAustralian shares closed the week higher on a mixed week of trading for the local sharemarket, which defied a global sell-off on Friday. ✔ It said the recent pullback in Woodside's stock price represented a buying opportunity ✔ Assuming a well below spot oil price assumption of $US74 a barrel in 2019, it expects Woodside to generate around a 6.7 per cent dividend yield ✔ Most Viewed in Business Loading Please explain Our weekly podcast giving you insight into the stories that drive the nation
Chinese stocks in confidence crisis
10/19/2018, 7:46:14 AMBeijing has to put nation's balance sheet in order to restore market faith ✔ No one knows the true level of overall debt in China ✔ Xi may be China's strongest leader in decades but he could well not be strong enough to swallow the losses required to clean up the nation's balance sheet ✔ Fraser Howie is co-author of Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise ✔ He has worked in China's capital markets since 1992
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