‘You don’t do these things prior to negotiations,’ ex-diplomat says of US actions against China

A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on taken on November 6, 2018. The latest U.S. actions against Chinese officials and companies don’t “set a good tone” for an upcoming high-level trade talk, a former American ambassador to China said Wednesday. Both announcements came just days ahead of a high-level trade meeting set to take place in Washington on Thursday and Friday. Max Baucus, former U.S. ambassador to China from February 20


A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on taken on November 6, 2018. The latest U.S. actions against Chinese officials and companies don’t “set a good tone” for an upcoming high-level trade talk, a former American ambassador to China said Wednesday. Both announcements came just days ahead of a high-level trade meeting set to take place in Washington on Thursday and Friday. Max Baucus, former U.S. ambassador to China from February 20
‘You don’t do these things prior to negotiations,’ ex-diplomat says of US actions against China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: yen nee lee abigail ng, yen nee lee, abigail ng
Keywords: news, cnbc, companies, street, chinese, signs, taken, exdiplomat, prior, things, negotiations, china, tone, told, actions, dont, set, trade


'You don't do these things prior to negotiations,' ex-diplomat says of US actions against China

A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on taken on November 6, 2018.

The latest U.S. actions against Chinese officials and companies don’t “set a good tone” for an upcoming high-level trade talk, a former American ambassador to China said Wednesday.

The Trump administration on Tuesday placed visa restrictions on Chinese officials it “believed to be responsible for, or complicit in, the detention and abuse of” Muslim minorities in China’s northwestern Xinjiang region. That followed a Monday move to blacklist 28 Chinese companies alleged to be involved in surveillance and detention of minority groups in China.

Both announcements came just days ahead of a high-level trade meeting set to take place in Washington on Thursday and Friday.

“You don’t do these things prior to negotiations. It does not set a good tone, that’s tactically. Strategically, all these actions — I think — are causing the Chinese to wonder: ‘What is the US’ real motive here?'” Max Baucus, former U.S. ambassador to China from February 2014 to January 2017, told CNBC’s “Street Signs Asia.”

Baucus, also a former Democratic senator from Montana, said the U.S. actions could simply be posturing ahead of the planned trade talks to get a better deal from China. But, “China will not be bluffed,” he added.

Taimur Baig, chief economist at DBS Group Research, echoed that sentiment. “There are ways of putting pressure — back channel diplomacy, implicit threats and so on, but this is very explicit (and) very noisy,” he told CNBC’s “Street Signs Asia.”

“The … potential loss of face for the Chinese is massive. I can’t imagine anybody rationally expecting a constructive outcome out of this,” he added. Baig also said the timing of the U.S. move “could not be worse” and it would “definitely backfire.”

Beijing, in response to the U.S. blacklist of Chinese firms, said it urges the U.S. to “stop interfering” in its internal affairs and suggested that it would retaliate against the American move.


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: yen nee lee abigail ng, yen nee lee, abigail ng
Keywords: news, cnbc, companies, street, chinese, signs, taken, exdiplomat, prior, things, negotiations, china, tone, told, actions, dont, set, trade


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Strategist: Yield curves predict ‘absolutely nothing,’ and central banks ‘never run out of bullets’

Fears are rising that a recession looms after a closely watched market metric flashed a warning signal, but one strategist told CNBC the supposed indicator “predicts absolutely nothing.” That so-called inverted yield curve has historically been regarded as a precursor to an economic recession. “My view has always been that yield curve predicts absolutely nothing,” he told CNBC’s “Squawk Box” on Thursday. The yield curve inversion, he said, may demonstrate that the global economy is slowing down.


Fears are rising that a recession looms after a closely watched market metric flashed a warning signal, but one strategist told CNBC the supposed indicator “predicts absolutely nothing.” That so-called inverted yield curve has historically been regarded as a precursor to an economic recession. “My view has always been that yield curve predicts absolutely nothing,” he told CNBC’s “Squawk Box” on Thursday. The yield curve inversion, he said, may demonstrate that the global economy is slowing down.
Strategist: Yield curves predict ‘absolutely nothing,’ and central banks ‘never run out of bullets’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: abigail ng
Keywords: news, cnbc, companies, run, inversion, curve, absolutely, banks, markets, recession, shvets, predicts, strategist, yield, curves, bullets, told, central, predict, inverted


Strategist: Yield curves predict 'absolutely nothing,' and central banks 'never run out of bullets'

Fears are rising that a recession looms after a closely watched market metric flashed a warning signal, but one strategist told CNBC the supposed indicator “predicts absolutely nothing.”

The yield on the 10-year U.S. Treasury briefly broke below the 2-year rate on Wednesday stateside. That so-called inverted yield curve has historically been regarded as a precursor to an economic recession. U.S. markets fell following the inversion, with the Dow Jones Industrial Average losing around 800 points. The rates inverted again in the morning of Asian trading hours on Thursday.

Nevertheless, Viktor Shvets, head of Asian strategy for Macquarie Commodities and Global Markets, brushed off those concerns.

“My view has always been that yield curve predicts absolutely nothing,” he told CNBC’s “Squawk Box” on Thursday.

“What it does tell you (is) that you will have a recession if you don’t do something about it,” Shvets added.

The yield curve inversion, he said, may demonstrate that the global economy is slowing down. That’s because of a lack of liquidity, absence of reflationary momentum and a de-globalization of trade and capital flows, according to Shvets.

“If you reverse those elements, then the yield curve will respond very quickly,” the strategist said, adding that, to him, “recession equals policy errors.”


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: abigail ng
Keywords: news, cnbc, companies, run, inversion, curve, absolutely, banks, markets, recession, shvets, predicts, strategist, yield, curves, bullets, told, central, predict, inverted


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Analysts say some emerging market currencies look appealing as the Fed weighs rate cuts

Investors should be looking to buy emerging market currencies against the U.S. dollar, two analysts told CNBC on Monday. Those calls come as the U.S. Federal Reserve appears to be seriously considering cutting U.S. interest rates. “We do think there is a basket of emerging market currencies that look appealing as the Fed is poised now to begin cutting rates as opposed to raising rates, ” he told CNBC’s “Street Signs. ” The term “carry trade” refers to a strategy in which investors borrow in a cu


Investors should be looking to buy emerging market currencies against the U.S. dollar, two analysts told CNBC on Monday. Those calls come as the U.S. Federal Reserve appears to be seriously considering cutting U.S. interest rates. “We do think there is a basket of emerging market currencies that look appealing as the Fed is poised now to begin cutting rates as opposed to raising rates, ” he told CNBC’s “Street Signs. ” The term “carry trade” refers to a strategy in which investors borrow in a cu
Analysts say some emerging market currencies look appealing as the Fed weighs rate cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: abigail ng
Keywords: news, cnbc, companies, emerging, rates, rate, say, weighs, dollar, market, told, appealing, currency, think, interest, looking, cuts, fed, look, currencies


Analysts say some emerging market currencies look appealing as the Fed weighs rate cuts

Investors should be looking to buy emerging market currencies against the U.S. dollar, two analysts told CNBC on Monday.

Those calls come as the U.S. Federal Reserve appears to be seriously considering cutting U.S. interest rates. As dollar-based investments begin to yield less interest, that may weaken the greenback against the currencies of higher-interest countries — including many in the developing world.

“What we see now is that the dollar is probably topped out against a number of the emerging market currencies, ” said Mike Ryan, chief investment officer for the Americas at UBS Global Wealth Management.

“We do think there is a basket of emerging market currencies that look appealing as the Fed is poised now to begin cutting rates as opposed to raising rates, ” he told CNBC’s “Street Signs. ”

This does not signal broad-based U.S. dollar weakness, he added, noting that other developed-country central banks are also looking to pivot on rate policy.

Khoon Goh, head of Asia research at ANZ Bank, echoed that view.

“We already have the (Australian and New Zealand central banks) easing, so I think we’re in this situation where carry trades will very much come back into vogue, ” he told CNBC’s “Squawk Box. ”

The term “carry trade” refers to a strategy in which investors borrow in a currency with low interest rates in order to purchase assets in a currency with higher interest rates. That way, they can earn from their investments in another currency while paying less interest on the amount borrowed.

Goh said ANZ continues to favor some currencies in Asia such as the Indian rupee and the Indonesian rupiah. Benchmark interest rates in India and Indonesia are 5.75% and 6%, respectively, compared to the Fed’s target between 2.25% and 2.5%, according to Trading Economics.

The picture in terms of the U.S. dollar index is “a little bit more muddy,” but it’s clearer for high-yielding currencies of countries with a “compelling growth story” or scope for economic reforms that will spur foreign inflows, he added.


Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: abigail ng
Keywords: news, cnbc, companies, emerging, rates, rate, say, weighs, dollar, market, told, appealing, currency, think, interest, looking, cuts, fed, look, currencies


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The Middle East and Africa have ‘huge upside’ in digital transformation: Abu Dhabi Global Market

The Middle East and Africa have seen many changes in terms of digital transformation, but there’s still “huge upside,” and financial technology firms are looking for opportunities there, according to a financial services regulator in the region. “Compared to a few years ago, now, we have a very vibrant marketplace,” said Richard Teng, chief executive officer of Abu Dhabi Global Market’s Financial Services Regulatory Authority. Different forms of financing could “work very well” and represent a n


The Middle East and Africa have seen many changes in terms of digital transformation, but there’s still “huge upside,” and financial technology firms are looking for opportunities there, according to a financial services regulator in the region. “Compared to a few years ago, now, we have a very vibrant marketplace,” said Richard Teng, chief executive officer of Abu Dhabi Global Market’s Financial Services Regulatory Authority. Different forms of financing could “work very well” and represent a n
The Middle East and Africa have ‘huge upside’ in digital transformation: Abu Dhabi Global Market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: abigail ng, blanche lim
Keywords: news, cnbc, companies, financial, market, upside, africa, global, huge, terms, transformation, valley, region, opportunities, looking, east, services, dhabi, middle, digital, teng


The Middle East and Africa have 'huge upside' in digital transformation: Abu Dhabi Global Market

The Middle East and Africa have seen many changes in terms of digital transformation, but there’s still “huge upside,” and financial technology firms are looking for opportunities there, according to a financial services regulator in the region. “Compared to a few years ago, now, we have a very vibrant marketplace,” said Richard Teng, chief executive officer of Abu Dhabi Global Market’s Financial Services Regulatory Authority. However, the “very sizable” market is still “underserved,” he added. Different forms of financing could “work very well” and represent a new engine of growth, Teng said. “We are seeing a lot of fintech companies, looking at the opportunities that I mentioned — 1.6 billion people — which have huge upside in terms of digital transformation, wishing to make a difference in that region,” he said.

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Regulators need to do ‘much more’


Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: abigail ng, blanche lim
Keywords: news, cnbc, companies, financial, market, upside, africa, global, huge, terms, transformation, valley, region, opportunities, looking, east, services, dhabi, middle, digital, teng


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It’s not just WhatsApp, most messaging apps likely have security vulnerabilities

The WhatsApp messaging app is displayed on an Apple iPhone on May 14, 2019 in San Anselmo, California. Facebook owned messaging app WhatsApp announced a cybersecurity breach that makes users vulnerable to malicious spyware installation iPhone and Android smartphones. WhatsApp is encouraging its 1.5 billion users to update the app as soon as possible. “The unfortunate reality is that most messaging apps have vulnerabilities that can be exploited by sophisticated cyber spies,” he said. He noted th


The WhatsApp messaging app is displayed on an Apple iPhone on May 14, 2019 in San Anselmo, California. Facebook owned messaging app WhatsApp announced a cybersecurity breach that makes users vulnerable to malicious spyware installation iPhone and Android smartphones. WhatsApp is encouraging its 1.5 billion users to update the app as soon as possible. “The unfortunate reality is that most messaging apps have vulnerabilities that can be exploited by sophisticated cyber spies,” he said. He noted th
It’s not just WhatsApp, most messaging apps likely have security vulnerabilities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: abigail ng
Keywords: news, cnbc, companies, likely, iphone, messaging, users, security, vulnerabilities, secure, cybersecurity, apps, whatsapp, app


It's not just WhatsApp, most messaging apps likely have security vulnerabilities

The WhatsApp messaging app is displayed on an Apple iPhone on May 14, 2019 in San Anselmo, California. Facebook owned messaging app WhatsApp announced a cybersecurity breach that makes users vulnerable to malicious spyware installation iPhone and Android smartphones. WhatsApp is encouraging its 1.5 billion users to update the app as soon as possible.

It’s not just WhatsApp, almost everything connected to the internet is at risk of cyberattacks. That’s what experts are emphasizing following news that the messaging platform had been targeted by spyware.

The vulnerability in the world’s most popular messaging platform, which was first reported by the Financial Times, allegedly allowed an Israel-based company to install malware onto both iPhone and Android phones. The security weakness reportedly could have been used to tap calls made with the app.

A spokeswoman said Facebook-owned WhatsApp encouraged users to update the application in order to protect against “potential targeted exploits designed to compromise information stored on mobile devices.”

But even after the patch, users should keep in mind that there will always be vulnerabilities on mobile applications.

“It’s definitely possible or even likely that at least some other apps will have similar vulnerabilities,” said Tom Uren, a senior analyst in the Australian Strategic Policy Institute’s International Cyber Policy Centre. “Pretty much the entire suite of apps that ‘talk’ over the internet could be vulnerable.”

That’s because the apps are “constantly updated” to introduce new features, said Ori Sasson, founder of cyber-intelligence firm S2T.

“While updates can fix known defects and vulnerabilities, they can insert new unknown ones,” he said. In software development and testing, engineers can identify weaknesses, but it is “literally impossible” to prove the absence of a vulnerability in a “non-trivial application,” he added.

Tom Kellermann, chief cybersecurity officer of U.S.-based cybersecurity firm Carbon Black, echoed that sentiment.

“The unfortunate reality is that most messaging apps have vulnerabilities that can be exploited by sophisticated cyber spies,” he said. “No messaging service is bulletproof.”

Such platforms usually secure the transmission of messages between users, but that’s not a “panacea,” Kellermann said.

Most security ratings for such platforms relate to encryption, which implies reduced risk of eavesdropping on messages and calls, explained Sasson. He noted that WhatsApp, like BBMe and other apps that are “considered secure,” has end-to-end encryption.

In the case of the WhatsApp attack, however, it was about “secure application development” rather than how well the app protects privacy and security, said Uren of ASPI, a Canberra-based think tank.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: abigail ng
Keywords: news, cnbc, companies, likely, iphone, messaging, users, security, vulnerabilities, secure, cybersecurity, apps, whatsapp, app


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China’s population could peak in 2023, here’s why that matters

China’s population is likely to peak in 2023, according to a study by online database company Global Demographics and analytics firm Complete Intelligence. “People had expected peak population in China to be a decade away, when in fact, it’s not,” he said. The study predicts that 13.3 million babies will be born in 2023, down from 15.2 million last year. The impact of China’s peak populationChina’s impending population decline is likely to negatively affect certain businesses, the report said. A


China’s population is likely to peak in 2023, according to a study by online database company Global Demographics and analytics firm Complete Intelligence. “People had expected peak population in China to be a decade away, when in fact, it’s not,” he said. The study predicts that 13.3 million babies will be born in 2023, down from 15.2 million last year. The impact of China’s peak populationChina’s impending population decline is likely to negatively affect certain businesses, the report said. A
China’s population could peak in 2023, here’s why that matters Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: abigail ng
Keywords: news, cnbc, companies, peak, market, million, china, births, population, nash, heres, number, women, chinas, 2023, report, matters


China's population could peak in 2023, here's why that matters

A boy tries to catch soap bubbles on the promenade of the Bund along the Huangpu River during a May Day holiday in Shanghai on May 1, 2019.

The world’s largest country by population could hit a ceiling six years earlier than expected, a new report predicts. China’s population is likely to peak in 2023, according to a study by online database company Global Demographics and analytics firm Complete Intelligence. The Chinese government had previously estimated that the country would hit its maximum population size in 2029. “What we see is the rate of growth slowing pretty, pretty quickly,” said Tony Nash, chief executive and founder of Complete Intelligence. “People had expected peak population in China to be a decade away, when in fact, it’s not,” he said. “It’s right around the corner.” The decline in births is driven by a “maternity cliff,” according to the report. The number of women of childbearing age in China — defined as aged 15 to 49 by the publishers — is set to fall from 346 million in 2018 to 318 million in 2023. With fewer women of childbearing age and fewer births per 1,000 women, the total number of newborns will drop as well. The study predicts that 13.3 million babies will be born in 2023, down from 15.2 million last year. China started easing its one-child policy in late 2013, and while those changes initially produced a boost in births, the effect may have worn off. That is, authors of the report wrote that Chinese mothers are no longer delivering on “pent up demand” for children since the policy was lifted to counter aging problems in the country.

The number of births per 1,000 women rose sharply from 45.6 in 2015 to 49.9 in 2016, the year where all Chinese couples were allowed to have two children. In 2018, the figure dropped drastically to 43.9. Total births fell 12 percent from 2017 to 2018. “China has stabilized its total population successfully,” Clint Laurent, founder of Global Demographics said in a press release. “But delaying relaxation of the One Child Policy means it is now short of childbearing women.” Complete Intelligence’s Nash told CNBC’s Street Signs: “The real issue … is that every woman who will have a child before 2035 is already alive.” “There’s really nothing that the Chinese government can do to force more babies,” he added. That is, unless each woman has “profoundly” more children, but that is “unlikely” as China gets wealthier, Nash noted.

The impact of China’s peak population

China’s impending population decline is likely to negatively affect certain businesses, the report said. In particular, industries that geared up to meet growing demand from the “false dawn” in the last five years could suffer. “The infant and child products will be the first hit,” Nash said. Consumer goods companies will now play a “market share game,” instead of an overall market growth one, Nash said. “It gets much, much more competitive from here on out.” Unlike the U.S., where there is a large millennial market to serve, China has a large baby boomer cohort, but it’s “hollow” afterward, said Nash. “That size of the market really continues to decline.” The China Maternity Cliff report predicts a “significant” impact on businesses that are part of the preschool market, such as toys and daycare. Both private and public schools may also need to adjust to the falling number of students in the years to come. Even further into the future, consumption could fall as dependency ratios increase in the country, said Nash. The dependency ratio refers to the number of dependents compared to the working population. “That dependency ratio only deteriorates from 2023 onward,” said Nash. “How much income do people have to spend, how much can they really put into the economy when, let’s say, somebody is caring for their parents and their children? ” He also said the country, together with the rest of North Asia, will need to take a “serious look” at automation in order to “keep their edge.” After 2023, Northeast Asian countries — Korea, Japan, Taiwan and China — will all have peaked in population, according to the projections. “If that part of the world is going to continue to manufacture (around 35%) of global goods, they’re going to have to take a serious look at automation,” he said. With no young, new entrants to the workforce, it will be “much more difficult” for China to have an average cost per worker that’s “affordable and competitive globally,” he said. There could be a “serious migration” of low-level jobs to places such as Bangladesh and Vietnam as wages rise in China, the Complete Intelligence chief added. Aside from the concerns about businesses and the economy, Nash said one “big” concern is income disparity. “As populations are in decline, those income classes solidify, and … the economic mobility that people have declines,” he said. “So that’s a real risk.” —CNBC’s Yen Nee Lee and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: abigail ng
Keywords: news, cnbc, companies, peak, market, million, china, births, population, nash, heres, number, women, chinas, 2023, report, matters


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US markets could move 15% higher, investor says

The US market could rally 15 percent more, investor says 3:26 AM ET Wed, 24 April 2019 | 02:46Two U.S. stock indexes may have closed at record highs this week, but one investor said the markets could be driven even higher on strong earnings. “It’s been a nice run in the market, and maybe there’s a little more room to go,” he said. “Maybe there’s 10, 15% left” in the market’s potential rise, Lesko projected, pointing to a “very, very pleasant” interest rate environment. The S&P 500 and Nasdaq hit


The US market could rally 15 percent more, investor says 3:26 AM ET Wed, 24 April 2019 | 02:46Two U.S. stock indexes may have closed at record highs this week, but one investor said the markets could be driven even higher on strong earnings. “It’s been a nice run in the market, and maybe there’s a little more room to go,” he said. “Maybe there’s 10, 15% left” in the market’s potential rise, Lesko projected, pointing to a “very, very pleasant” interest rate environment. The S&P 500 and Nasdaq hit
US markets could move 15% higher, investor says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: abigail ng
Keywords: news, cnbc, companies, investor, market, markets, lesko, higher, record, highs, theres, 15, run, earnings


US markets could move 15% higher, investor says

The US market could rally 15 percent more, investor says 3:26 AM ET Wed, 24 April 2019 | 02:46

Two U.S. stock indexes may have closed at record highs this week, but one investor said the markets could be driven even higher on strong earnings.

“We were running into a market that had gotten so much fear at the end of last year, that earnings estimates came very far down, perhaps too far down,” Timothy Lesko, partner at Granite Investment Advisors, said on Wednesday.

Lesko told CNBC’s “Street Signs” that he expected a “snap back” from earnings revisions, but companies went further, reporting “much better” earnings and revenues. “It’s been a nice run in the market, and maybe there’s a little more room to go,” he said.

Valuations are in the high teens now, but could trade north of 20 times earnings, he said.

“Maybe there’s 10, 15% left” in the market’s potential rise, Lesko projected, pointing to a “very, very pleasant” interest rate environment.

The S&P 500 and Nasdaq hit record closing highs on Tuesday following solid earnings news.

As investors consider the guidance given by analysts and companies, they will begin to see earnings going “significantly higher” in the future, he said. “And, in the long run, it’s all about earnings.”


Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: abigail ng
Keywords: news, cnbc, companies, investor, market, markets, lesko, higher, record, highs, theres, 15, run, earnings


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K-pop sex scandals are crushing Korean entertainment stocks

Two sex scandals that rocked the South Korean music world have crushed the country’s entertainment stocks as police investigate the involvement of celebrities in alleged criminal conduct. On Tuesday, the stock closed at 36,150 Korean won per share, down around 1 percent from the day before. On March 11, following reports that the celebrity had been charged with providing sexual services at his club, YG Entertainment saw its stock fall 14.1 percent. Other Korean entertainment companies such as JY


Two sex scandals that rocked the South Korean music world have crushed the country’s entertainment stocks as police investigate the involvement of celebrities in alleged criminal conduct. On Tuesday, the stock closed at 36,150 Korean won per share, down around 1 percent from the day before. On March 11, following reports that the celebrity had been charged with providing sexual services at his club, YG Entertainment saw its stock fall 14.1 percent. Other Korean entertainment companies such as JY
K-pop sex scandals are crushing Korean entertainment stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: abigail ng, han myung-gu, wireimage, getty images
Keywords: news, cnbc, companies, saw, entertainment, jung, seungri, chat, scandals, stocks, stock, 25, feb, kpop, sex, crushing, korean


K-pop sex scandals are crushing Korean entertainment stocks

Two sex scandals that rocked the South Korean music world have crushed the country’s entertainment stocks as police investigate the involvement of celebrities in alleged criminal conduct.

K-pop artist Seungri (real name Lee Seung-hyun), who was part of hugely popular boy band Big Bang, has been accused of providing prostitutes to investors in a club he owned. Police are also seeking a warrant to arrest another star, TV personality Jung Joon-young, over sex videos that he allegedly shared in social media chat rooms.

YG Entertainment, the company that manages Big Bang and Seungri, has seen its stock plummet 24.8 percent since Feb. 25, after the celebrity was questioned by police over drug use and prostitution. On Tuesday, the stock closed at 36,150 Korean won per share, down around 1 percent from the day before.

According to reports, the nation’s five major entertainment companies lost 17.52 percent in value from Feb. 25 to March 15, after their combined market value fell from 3.35 trillion won ($2.96 billion) to 2.76 trillion won.

Trouble first surfaced in late January, when Korean media reported that employees at Burning Sun, a nightclub then owned by Seungri, were being accused of assaulting a customer. Things spiraled in late February, when the singer was taken in for questioning by the police.

On March 11, following reports that the celebrity had been charged with providing sexual services at his club, YG Entertainment saw its stock fall 14.1 percent. On the same day, Seungri announced on his Instagram account that he would retire from show business.

The stock fell another 3.4 percent on March 12.

Other Korean entertainment companies such as JYP Entertainment, SM Entertainment, Cube Entertainment and FNC Entertainment also suffered losses as the scandals unfolded.

Seungri and several other artists were reported to be members of the mobile chat room where Jung sent videos of himself having sex with women. Jung and Choi Jong-hoon, a member of band FT Island who was also alleged to have been in the chat group, announced they would retire.

FNC Entertainment, which manages Choi, saw its share price fall 11.1 percent on March 11.

SM Entertainment, Cube Entertainment and FNC Entertainment all saw their stocks recording more than 20 percent declines from Feb. 25 to March 15. JYP Entertainment, meanwhile, was only down about 5.5 percent during that period.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: abigail ng, han myung-gu, wireimage, getty images
Keywords: news, cnbc, companies, saw, entertainment, jung, seungri, chat, scandals, stocks, stock, 25, feb, kpop, sex, crushing, korean


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China may be on the cusp of introducing ‘more aggressive’ stimulus measures, economists say

China is on the cusp of using ‘aggressive’ easing policies: Strategist 3:02 AM ET Tue, 19 Feb 2019 | 02:30Chinese authorities could be getting ready to implement more extensive stimulus measures in a bid to encourage growth in the country, according to economists. “I don’t think it’ll be a massive plan or package,” Parry told CNBC’s Squawk Box on Tuesday, adding that he did expect, however, the the central bank will “massage” short-term rates. Under the weight of U.S. tariffs and its own delever


China is on the cusp of using ‘aggressive’ easing policies: Strategist 3:02 AM ET Tue, 19 Feb 2019 | 02:30Chinese authorities could be getting ready to implement more extensive stimulus measures in a bid to encourage growth in the country, according to economists. “I don’t think it’ll be a massive plan or package,” Parry told CNBC’s Squawk Box on Tuesday, adding that he did expect, however, the the central bank will “massage” short-term rates. Under the weight of U.S. tariffs and its own delever
China may be on the cusp of introducing ‘more aggressive’ stimulus measures, economists say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: abigail ng
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China may be on the cusp of introducing 'more aggressive' stimulus measures, economists say

China is on the cusp of using ‘aggressive’ easing policies: Strategist 3:02 AM ET Tue, 19 Feb 2019 | 02:30

Chinese authorities could be getting ready to implement more extensive stimulus measures in a bid to encourage growth in the country, according to economists.

Three economists and one Hong Kong-based CEO told CNBC in the last week that they anticipate a significant move from the People’s Bank of China in the near future as Chinese officials continue to grapple with a slowing economy and the economic stresses of the ongoing trade war with the United States.

“I really get the feeling that the PBOC is about to turn an inflection point here, and we’re going to actually see a bit more of a stimulus aspect come out,” said Gavin Parry, CEO of financial services company Parry Global Group.

“I don’t think it’ll be a massive plan or package,” Parry told CNBC’s Squawk Box on Tuesday, adding that he did expect, however, the the central bank will “massage” short-term rates.

Under the weight of U.S. tariffs and its own deleveraging efforts, the Asian giant’s economy is weakening. The country’s gross domestic product for 2018 grew at its slowest pace since 1990, while a private survey from December indicated that China’s factory activity had contracted for the first time in 19 months.

Mitul Kotecha, a senior emerging markets strategist at TD Securities, said China has been reluctant to implement “hard and strong” easing measures, despite its economy losing steam, because the government has been concerned about expanding already-high debt levels.

Chinese President Xi Jinping had been trying to reduce his nation’s mountain of debt in recent years, an initiative that appeared to take a backseat when the economy began to falter.

Instead, the People’s Bank of China took action — it injected $83 billion into the country’s banking in a single day last month and cut banks’ reserve ratios at least five times since the beginning of 2018 — in a bid to combat the slowdown. The central bank also used medium-term lending facilities to boost liquidity in the market.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: abigail ng
Keywords: news, cnbc, companies, introducing, aggressive, stimulus, strategist, china, cusp, measures, economists, say, parry, economy, bank, peoples, implement, told


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Hong Kong tops ‘economic freedom’ chart despite political pressure from Beijing

Hong Kong came in first in an annual ranking of the world’s most “economically free” countries, topping the chart for the 25th straight year, according to a U.S. think tank. That’s a “remarkable achievement,” said Edwin Feulner, founder of The Heritage Foundation, which co-published the 2019 Index of Economic Freedom with The Wall Street Journal. Hong Kong’s achievement is even more impressive considering the fact that the city has come under increasing political pressure from Beijing in recent


Hong Kong came in first in an annual ranking of the world’s most “economically free” countries, topping the chart for the 25th straight year, according to a U.S. think tank. That’s a “remarkable achievement,” said Edwin Feulner, founder of The Heritage Foundation, which co-published the 2019 Index of Economic Freedom with The Wall Street Journal. Hong Kong’s achievement is even more impressive considering the fact that the city has come under increasing political pressure from Beijing in recent
Hong Kong tops ‘economic freedom’ chart despite political pressure from Beijing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: abigail ng, anthony wallace, afp, getty images
Keywords: news, cnbc, companies, tops, hong, political, despite, chart, seen, free, freedom, country, kong, systems, index, protests, number, feulner, pressure, economic, beijing


Hong Kong tops 'economic freedom' chart despite political pressure from Beijing

Hong Kong came in first in an annual ranking of the world’s most “economically free” countries, topping the chart for the 25th straight year, according to a U.S. think tank.

That’s a “remarkable achievement,” said Edwin Feulner, founder of The Heritage Foundation, which co-published the 2019 Index of Economic Freedom with The Wall Street Journal.

An economically free society is defined as an environment where individuals can work, produce, consume and invest in any way they please, and governments allow workers, money flows, and goods to move freely.

Hong Kong’s achievement is even more impressive considering the fact that the city has come under increasing political pressure from Beijing in recent years.

As a special administrative region of China, Hong Kong operates under the “one country, two systems” framework which allows the territory to enjoy a certain degree of autonomy not seen on the mainland.

But since the pro-democracy protests of 2014, which saw tens of thousands march through the streets and paralyze parts of the financial hub for weeks, Hong Kong has seen more and more protests against Chinese interference. That’s in turn prompted Beijing to harden its stance on dissent in the territory.

Hong Kong is still “clearly number one,” Feulner told CNBC’s Akiko Fujita on Squawk Box Monday. “It is the only country in the world that scored above 90 in our index — a 100 being perfect — and it’s 90.2.”

“I mean here is one country, two systems — Hong Kong number one, China 100,” Feulner said, highlighting the territory’s independence from the mainland.


Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: abigail ng, anthony wallace, afp, getty images
Keywords: news, cnbc, companies, tops, hong, political, despite, chart, seen, free, freedom, country, kong, systems, index, protests, number, feulner, pressure, economic, beijing


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