Earlier, news of the collapse of the summit between U.S. President Donald Trump and North Korean leader Kim Jong Un on denuclearization triggered flight-to-quality bids in lower-risk assets such as the Swiss franc. Data showed that Chinese factory activity contracted to a three-year low and China’s export orders fell at their fastest pace since the global financial crisis a decade ago, adding to ongoing worries about a slowdown in the Chinese economy and its impact on global markets. "There’s been a lot of stimulus measures in China, and it’s still not showing up in the numbers as soon as people would like," said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta. Receding optimism on the U.S.-China trade talks also dampened sentiment. U.S. Trade Representative Robert Lighthizer said his office was taking legal steps to implement Trump’s announcement on Sunday to delay a tariff increase on more than $200 billion worth of Chinese goods … [Read more...] about Global stocks fall on China weakness, tempered trade hopes – VnExpress International
Nyse new lows
Global stocks fall on China weakness, tempered trade hopes
Earlier, news of the collapse of the summit between U.S. President Donald Trump and North Korean leader Kim Jong Un on denuclearization triggered flight-to-quality bids in lower-risk assets such as the Swiss franc. Data showed that Chinese factory activity contracted to a three-year low and China’s export orders fell at their fastest pace since the global financial crisis a decade ago, adding to ongoing worries about a slowdown in the Chinese economy and its impact on global markets. "There’s been a lot of stimulus measures in China, and it’s still not showing up in the numbers as soon as people would like," said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta. Receding optimism on the U.S.-China trade talks also dampened sentiment. U.S. Trade Representative Robert Lighthizer said his office was taking legal steps to implement Trump’s announcement on Sunday to delay a tariff increase on more than $200 billion worth of Chinese goods … [Read more...] about Global stocks fall on China weakness, tempered trade hopes
Wall Street stocks end their worst year since 2008
Traders work on the floor of the New York Stock Exchange (NYSE) on the last day of the trading year on Dec 31, 2018 in New York City. (Spencer Platt/Getty Images/AFP) The US stock market concluded its worst year since the global financial crisis on Monday (Dec 31) following a late-season collapse that also raised doubts about the prospects for 2019. Major indices notched modest gains in the year's final session, but it barely made a dent compared with the rest of December, the market's worst month in nearly a decade. Ending in the red for 2018 did not appear in the cards in the first weeks of the year, when Wall Street repeatedly shot to new records on the heels of a sweeping tax cut signed into law in December 2017 by President Donald Trump. But it did not take long for a host of worries to shake that confidence, from unease over an unpredictable series of trade wars launched by Trump, to angst over rising interest rates, to nervousness over economists' warnings of slowing growth, … [Read more...] about Wall Street stocks end their worst year since 2008
BUSINESS NEWS IN BRIEF 16/12
Mexico to face fierce competition from Vietnam: Mexican economists Mexican economists have shared the view that once the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect, Mexico will have to face fierce competition from Vietnam in many sectors, such as garments and textiles, leather and footwear, and electronic equipment. Arnulfo Gomez, a foreign trade expert, said Vietnam has successfully implemented a commercial strategy that helps improve the quality and competitiveness of its products on the international market by reducing spending on materials and applying technology in production. With such advantages, Vietnam has more capacity than Mexico to utilise opportunities generated by the CPTPP, he said. The experts suggested that the Mexican Government set forth new measures to raise the competitiveness of domestic businesses, thus avoiding adverse impacts from the deal. Statistics of the Mexican Ministry of … [Read more...] about BUSINESS NEWS IN BRIEF 16/12
BUSINESS NEWS IN BRIEF 30/8
E-commerce key for farm exportersVietnamese enterprises should take advantage of e-commerce development to boost exports of farm produce to China, experts said at a meeting on Sunday in HCM City.Wen Xi Chen, economic counselor at the Chinese Consulate General in the city, said Vietnamese enterprises should cooperate with well-known Chinese e-commerce enterprises to open online stores of high-quality farm produce for export to China.While e-commerce has narrowed the production and consumption gap, and extended consumer markets, traditional sale channels have not updated market information regularly, he said.To develop e-commerce for agricultural products, logistics service, traceability and human resources should ensure product quality, he added.Nguyen Hoang Anh, member of the Advisory Council for Reform, who is also vice president of the Digital Agriculture Association (DAA) Viet Nam, said China remained a major market for agricultural products exported from Viet Nam due to similarity … [Read more...] about BUSINESS NEWS IN BRIEF 30/8