Market

## RCEP is China’s strategy to gain access to Indian market ##
30Jul By Brian ThompsonNo Comments
Market

## RCEP is China’s strategy to gain access to Indian market ##

The Government of India has decided “not to review” its stand to not join the Regional Comprehensive Economic Partnership (RCEP), which benefits China disproportionately and opens Indian market to economic threats, especially from Chinese preys.Despite claims that India’s decision is influenced by the initial inaction of China to curb the outbreak of the wide-spread coronavirus, and keeping its information hidden, and the unprovoked killing of 20 Indian soldiers by Chinese troops in a brutal clash on June 15, the Central government has maintained that the recent incidents do not have any bearing on India's decision to not join RCEP. The decision was based solely on economic reasons after multiple Ministerial discussions in November 2019.Most of the countries that are part of the RCEP, incl...
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Hong Kong’s competitive edge blunted by US-China storm
29Jul By Desk TeamNo Comments
China, Market, World

Hong Kong’s competitive edge blunted by US-China storm

HONG KONG: Beijing's tough new security law and President Donald Trump's order to rescind special trading privileges have blunted Hong Kong's competitive edge and risk turning the finance hub into just another Chinese city, analysts warn. Once lauded as an oasis of predictability in Asia, Hong Kong has been plunged into crisis over the past year, threatening its status as a reliable world-class business centre. As 2019 came to a close, the city was already deep in recession because of spiralling US-China trade tensions and months of huge, often violent protests. And the jolts to business sentiment have not let up. Late last month Beijing blanketed the city in a game-changing anti-subversion law aimed at ending protests against its increasingly authoritarian rule. Then on Tuesd...
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Individual investors are a ‘big part’ of the market over last few months, NYSE president says
29Jul By Desk TeamNo Comments
Market, World

Individual investors are a ‘big part’ of the market over last few months, NYSE president says

NYSE President Stacey Cunningham said Friday that individual investors have participated in a big way during the market's record rally that's seen the S&P 500 jump 48% from its March 23 low. "The retail investor has been a big part of the market over the past several months for a variety of reasons," Cunningham said on CNBC's "Squawk Box." She pointed to several reasons for the spike, including zero-commission trading platforms, as well as consumers having more time on their hands amid stay-at-home orders during the coronavirus pandemic. "They're engaging in this tremendous rebound from the market," she said. Her comments come after e-brokers TD Ameritrade and Interactive Brokers reported record retail trading volumes in the second quarter. Some, including Social Capital's Chamath Palih...
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China’s ‘Lackey’ Duterte is smarting as Beijing tightens screws
20Jul By Brian ThompsonNo Comments
Market

China’s ‘Lackey’ Duterte is smarting as Beijing tightens screws

Philippines President Roberto Duterte has been ridiculed as a ‘Chinese lackey’ and worse time and again for doing a complete U-turn on his predecessor’s policies regarding Beijing and its expansionist strategies to overtake resource-filled Islands.Under former president Benigno Simeon Aquino III, Philippines had taken China to an international tribunal regarding disputes over Scarborough Shoal and the Spratly Islands.Both these islands are said to have untapped oil and natural gas resources and are of great strategic value to the Philippines and the United States. Fears of a Chinese naval and weapons build-up here and on artificial islands being created in the neighboring areas, are of great concern to the Philippines.And even then, Duterte who is otherwise known as the strongman for his o...
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Here’s why Wall Street strategist Jim Paulsen says jobs data shows we may be in a ‘new bull market’
19Jul By News DeskNo Comments
Market, World

Here’s why Wall Street strategist Jim Paulsen says jobs data shows we may be in a ‘new bull market’

(This story is for CNBC Pro subscribers only.) Wall Street strategist James Paulsen said Thursday that the recent economic reports are pointing to a recovery that could send stocks on an extended climb. "They're all telling a similar story. You can argue about whether they're stronger or weaker or whether they're overstated or not, but the direction of the economy is certainly north, and I think that's all it has to do to continue to provide confidence not only to investors but also to companies and to consumers," Paulsen, the chief investment strategist for the Leuthold Group, said on "Squawk Box."
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China says it must improve hygiene in markets after Beijing COVID-19 outbreak
8Jul By News DeskNo Comments
Market, World

China says it must improve hygiene in markets after Beijing COVID-19 outbreak

SHANGHAI: Low standards of hygiene in China's wholesale food markets and vulnerabilities in its food supply chain need to be urgently addressed after a new COVID-19 outbreak in Beijing, a leading body of the ruling Communist Party said. The resurgence of COVID-19 in the country's capital over the past week, infecting more than 100 people and raising fears of wider contagion, has been linked to the city's massive Xinfadi food centre. The Communist Party's top disciplinary body said the outbreak underlined the urgent need to improve sanitation standards and minimise health risks at markets. "The epidemic is a mirror that not only reflects the dirty and messy aspects of wholesale markets but also their low-level management conditions," the Central Commission for Discipline Inspection (...
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Credit Suisse CEO sees things ‘going in right direction’
7Jul By News DeskNo Comments
Market, World

Credit Suisse CEO sees things ‘going in right direction’

ZURICH: Business conditions are improving after a tough start to the year, Credit Suisse Chief Executive Thomas Gottstein said in a presentation released on Wednesday (Jun 10). "Those early indications that we have seen now in the last couple of weeks have been actually quite promising and going in the right direction. We clearly had a lot of stress in the system in the second half of March but things really calmed down in April and they continue to be quite robust in May and June," he said in an audiocast for a Goldman Sachs conference. "So far, so good. Clearly we expect very bad economic data for Europe and the US for Q2 but overall actually if I speak to my colleagues on the corporate banking side in Switzerland, to my colleagues in investment banking, we actually see high engage...
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Oil rally and Saudi price spikes could hurt refiners, stifling market recovery
5Jul By Team FPNo Comments
Market, World

Oil rally and Saudi price spikes could hurt refiners, stifling market recovery

A view of the Marathon Petroleum Corp's Los Angeles Refinery in Carson, California, April 25, 2020 after the price for crude plunged into negative territory for the first time in history on April 20. Robyn Beck | AFP | Getty Images Oil prices pared gains on Monday, despite the weekend announcement by OPEC and its allies, known as OPEC+, that historic production cuts of 9.6 million barrels per day across the group would continue through July as the coronavirus pandemic continues to weigh on demand. The move spurred hopeful talk of a recovery for oil prices, which are down about 30% year-to-date after a 56% recovery for international benchmark Brent crude in the month of May. But data from refineries across several regions shows weak margins, or "crack spreads" — the difference between the ...
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Virtual tours and opportunities: The Singapore property market during COVID-19
4Jul By Team FPNo Comments
Market, Singapore, World

Virtual tours and opportunities: The Singapore property market during COVID-19

Singapore is now in the first phase of the post-circuit breaker period. Some sectors of the economy have reopened, but it isn’t quite business as usual in the property sector. Money Mind reports. SINGAPORE: Singapore is now in the first phase of the post-circuit breaker period. Some sectors of the economy have reopened, but it isn’t quite business as usual in the property sector. Developers’ show galleries remain closed, and property agents are still unable to conduct face-to-face meetings or viewings with prospective buyers. Amid these challenging operating conditions, new private home sales fell 12 per cent in the first quarter. In the same period, prices fell 1 per cent. Most market watchers expect prices to continue this downward trend. Ms Christine Sun, head of research and c...
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Stocks close higher as opposing forces pull on the market — what investors should watch now
26Jun By Team FPNo Comments
Market, World

Stocks close higher as opposing forces pull on the market — what investors should watch now

Opposing forces hit stocks on Thursday. The major averages closed sharply higher after a late-day surge, capping off a mixed trading session that grappled with rising coronavirus case counts in reopened states such as Texas, which said it would pause its efforts to try to stem the spread. U.S. stocks initially rose after banking regulators said they would ease some restrictions put in place after the 2007-2009 financial crisis, sparking an upward move in bank stocks that continued in the afternoon bounce. Here's what five market watchers had to say about Thursday's action: Deregulation danger Former Federal Deposit Insurance Corporation Chair Sheila Bair said the bank regulators' moves were "ill-advised": "I think they're significantly in the direction of deregulation. That's kind of bee...
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