20 September 2019

Macro Economy

  • South Korean firms are 'faced with serious damage' as a result of Japan's export curbs, Trade Minister Yoo Myung-Hee said on Wednesday. File photo: Bloomberg

    S Korea to file WTO complaint over Japan’s export curbs

    Sep 11, 2019 11:51am
    South Korea plans to file a complaint at the World Trade Organization (WTO) over Japan’s tighter export controls, accusing Tokyo of being “politically motivated” and “discriminatory” in its policy moves, Reuters reports. “We have decided to...
  • The eurozone economy is in a much better shape than it was in March 2015, when the European Central Bank introduced quantitative easing. Besides, interest rates can hardly be cut much further. Photo: Bloomberg

    It’s time for ECB to put quantitative easing on hold

    - Sep 10, 2019 9:53am
    With economic sentiment in the eurozone worsening rapidly, the European Central Bank is widely expected to announce a robust package of additional stimulus measures at its next meeting on Sept. 12. But although the ECB’s monetary...
  • Repeated violent conflicts and transport disruptions have led to the cancellation or rescheduling of many international conferences and exhibitions in Hong Kong, the city’s finance chief says. Photo: Reuters

    HK Aug visitors down 40% on year: Paul Chan

    Sep 9, 2019 3:20pm
    Visitor arrivals in Hong Kong were down almost 40 percent in August compared to the same month last year, after a nearly 5 percent slide in July, amid the ongoing unrest in the city, according to...
  • China's export growth is expected to slow further in coming months. Photo: Bloomberg

    China Aug exports shrink amid sharp fall in US shipments

    Sep 9, 2019 10:15am
    China’s exports unexpectedly fell in August as shipments to the United States slowed sharply, pointing to further weakness in the world’s second-largest economy and underlining a pressing need for more stimulus as the Sino-US trade war...
  • Employees work on a robot vacuum cleaner production line at a factory of Matsutek in Shenzhen. Photo: Reuters

    Chinese firms hit hard by US tariffs build up domestic brands

    Sep 6, 2019 10:36am
    For over a decade, manufacturer Matsutek plied away at building its business with big Western brands, supplying firms such as Philips and Honeywell with products made in its Chinese factories for the US and other overseas...
  • Federal Reserve Chairman Jerome Powell cites trade policy uncertainty as an important reason for the global economic slowdown and weak US manufacturing. Photo: Bloomberg

    Trade uncertainty to cut US$850 billion global output: Fed paper

    Sep 6, 2019 8:51am
    Trade policy uncertainty driven by US President Donald Trump administration’s escalating dispute with China means hundreds of billions of dollars in lost US output and as much as US$850 billion lost globally through early next year,...
  • Hong Kong has slipped three notches in EIU's global liveability rankings, but it is still ahead of key regional rival Singapore. Photo: HKEJ

    HK ranked No. 38 on liveable cities list, ahead of Singapore

    Sep 5, 2019 6:25pm
    Hong Kong took the No. 38 spot on a list of the world’s most liveable cities, down three notches from a similar survey last year, as per the Economist Intelligence Unit (EIU). The city, however, can derive comfort...
  • Financial Secretary Paul Chan (left) and Secretary for Commerce and Economic Development Edward Yau announce the latest round of relief measures for small and medium-scale enterprises in a press conference on Wednesday. Photo: HKEJ

    Govt unveils more relief measures for small businesses

    Sep 5, 2019 3:54pm
    Hong Kong authorities will provide more support for small and medium-scale enterprises (SMEs), which have been hit by global economic weakness and deteriorating local business environment. The government has unveiled a fresh round of relief measures...
  • Trade teams from China and the United States will hold talks in mid-September before the high-level discussions in Washington next month. Photo: Reuters

    China, US to resume high-level trade talks in October

    Sep 5, 2019 11:04am
    China and the United States agreed to hold high-level trade talks in early October in Washington, China’s commerce ministry said on Thursday, amid fears that an escalating trade war could trigger a global economic recession. Asian...
  • US President Donald Trump’s trade war and Twitter threats are fueling economic uncertainty. Photo: Reuters

    Money for nothing

    - Sep 5, 2019 9:50am
    A monetary policy regime centered on quantitative easing (QE) and zero or even negative interest rates has created an extraordinarily permissive environment for politicians of a certain disposition. Those who are willing to exploit current conditions...
  • Most Chinese steel products have largely been excluded from the US market by prior anti-dumping duties and President Donald Trump’s 25 percent punitive tariffs. Photo: Xinhua

    US imposes duties on structural steel from China, Mexico

    Sep 5, 2019 8:37am
    The US Commerce Department imposed duties on Chinese and Mexican structural steel after making a preliminary determination that producers in both countries had dumped fabricated structural steel on the US market at prices below fair market...
  • Finance Minister Hong Nam-ki told heads of the country’s 137 state-owned organizations at a meeting to increase their investment by 1 trillion won this year to prop up the economy. Photo: Bloomberg

    South Korea tells state firms to boost spending as economy slows

    Sep 4, 2019 10:09am
    South Korea’s government told state enterprises on Wednesday to spend 1 trillion won (US$824.63 million) more than they had planned for the rest of the year to support cooling private sector activity, Reuters reports. Finance Minister...
  • US President Donald Trump warned that Beijing will face even tougher terms if the two sides fail to resolve their trade dispute and he wins re-election in November 2020. Photo: Reuters

    Trump warns China against dragging its feet in trade talks

    Sep 4, 2019 7:51am
    US President Donald Trump warned he would be “tougher” on Beijing in a second term if trade talks dragged on, compounding market fears that ongoing trade disputes between the United States and China could trigger a...
  • Argentine peso is down more than a third so far this year, following a more than 50 percent slide last year. Photo: Reuters

    Argentine peso, bonds plunge after capital controls

    Sep 3, 2019 9:28am
    Argentine bond prices fell to record lows on Monday and the official and black market pesos diverged after the nation imposed capital controls in a bid to stem a currency rout, Reuters reports. The peso closed...
  • BOE Technology, which saw first-half profits plunge 44 percent, said it faced extremely severe challenges due to trade frictions and an industry downturn. Photo: Bloomberg

    Trade war dents Chinese company profits, investment inflows

    Sep 3, 2019 9:22am
    Some Chinese business sectors reported solid first-half earnings, though a substantial fall in industrial profits and in tepid overseas investment inflows into China’s stock markets show a fallout from the protracted trade war with the United...
  • The lawsuit is the third Beijing has brought to challenge US President Donald Trump’s China-specific tariffs at the World Trade Organization. Photo: Reuters

    China lodges tariff complaint against US at WTO

    Sep 3, 2019 7:40am
    China has lodged a complaint against the United States at the World Trade Organization over US import duties, Reuters reports, citing the Chinese Commerce Ministry. The United States began imposing 15 percent tariffs on a variety...
  • Given the Sino-US trade war and the social unrest in the city, Hong Kong’s policymakers need to come up with ways to limit the economic damage. Photo: HKEJ

    How to guard against the looming ‘economic typhoon’

    - Sep 2, 2019 6:54pm
    Financial Secretary Paul Chan Mo-po warned recently that the worsening external situation and the ongoing social unrest in the city threatens to land an “economic typhoon” on Hong Kong. In a post on his official blog,...
  • Argentina will negotiate with holders of its sovereign bonds and the IMF to extend the maturities of its debt obligations, the nation's Treasury Minister Hernan Lacunza said last week. Photo: Reuters

    IMF pledges support for Argentina amid debt crisis

    Sep 2, 2019 9:30am
    The International Monetary Fund (IMF) said it will stand by Argentina after the government authorized currency controls on Sunday in an about-face by President Mauricio Macri, who had previously lifted many protectionist practices of his predecessor,...
  • Talks between the United States and China are continuing and the two sides will meet again in person in September, according to US President Donald Trump. Photo: Reuters

    China, US kick off new round of tariffs in trade war

    Sep 2, 2019 7:41am
    China and the United States began imposing additional tariffs on each other’s goods on Sunday, the latest escalation in a bruising trade war, but US President Donald Trump said the sides would still meet for talks...
  • The State Council said the government will encourage banks to use more innovative tools to replenish capital through multiple channels. Photo: AFP

    China plans more support for economy

    Sep 2, 2019 7:39am
    China plans to provide more support for its economy, including investing in infrastructure projects and regional development, while maintaining a prudent monetary policy with “reasonably” ample liquidity, the State Council said on Sunday. As the world’s...