Credit Suisse sees investment opportunities in China, Singapore and Indonesia

Asian stocks have been hit by waves of uncertainty this year, stemming from the escalating trade tensions between the U.S. and China. “Asian markets are down 15 percent this year because of the U.S.-China trade dispute and concerns about (an) economic … slowdown,” Suresh Tantia, investment strategist at Credit Suisse, told CNBC’s “Street Signs” on Friday. The MSCI Asia ex-Japan index has fallen more than 20 percent from its 2018 highs, and Tantia is seeing opportunities amidst the turmoil. “I


Asian stocks have been hit by waves of uncertainty this year, stemming from the escalating trade tensions between the U.S. and China. “Asian markets are down 15 percent this year because of the U.S.-China trade dispute and concerns about (an) economic … slowdown,” Suresh Tantia, investment strategist at Credit Suisse, told CNBC’s “Street Signs” on Friday. The MSCI Asia ex-Japan index has fallen more than 20 percent from its 2018 highs, and Tantia is seeing opportunities amidst the turmoil. “I
Credit Suisse sees investment opportunities in China, Singapore and Indonesia Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16
Keywords: news, cnbc, companies, prices, indonesia, sees, slowdown, china, markets, seen, tantia, investment, credit, trade, waves, suisse, uschina, opportunities, valuation, asian, singapore


Credit Suisse sees investment opportunities in China, Singapore and Indonesia

Asian stocks have been hit by waves of uncertainty this year, stemming from the escalating trade tensions between the U.S. and China.

“Asian markets are down 15 percent this year because of the U.S.-China trade dispute and concerns about (an) economic … slowdown,” Suresh Tantia, investment strategist at Credit Suisse, told CNBC’s “Street Signs” on Friday.

Asian economies will “definitely” experience a slowdown next year, he added.

The MSCI Asia ex-Japan index has fallen more than 20 percent from its 2018 highs, and Tantia is seeing opportunities amidst the turmoil.

“I like Asian markets because I think there’s a big divergence between fundamentals and prices,” he said. “Prices have moved far ahead of fundamentals.”

“You look at the earnings picture for Asian markets, we are still looking at 10 percent kind of growth for 2019. Valuation is extremely cheap and this year, we have seen thirty billion dollar(s) of outflows from Asian equities which we have never seen going back to 2008,” Tantia said.


Company: cnbc, Activity: cnbc, Date: 2018-11-16
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Dow jumps after Trump says China wants to make trade deal

President Donald Trump said Friday that China “wants to make a deal” on trade with the United States, but he also warned that any pact has to be “reciprocal.” “China wants to make a deal,” Trump said, adding that China had recently sent a list of trade items the nation is open to compromise on. The president said that tariffs the United States recently imposed on a range of Chinese products have put pressure on that country to agree to a trade pact. Trump said, “China has taken advantage of the


President Donald Trump said Friday that China “wants to make a deal” on trade with the United States, but he also warned that any pact has to be “reciprocal.” “China wants to make a deal,” Trump said, adding that China had recently sent a list of trade items the nation is open to compromise on. The president said that tariffs the United States recently imposed on a range of Chinese products have put pressure on that country to agree to a trade pact. Trump said, “China has taken advantage of the
Dow jumps after Trump says China wants to make trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: dan mangan, fred imbert, kevin lamarque
Keywords: news, cnbc, companies, wants, trade, deal, trumps, china, united, states, dow, president, trump, white, jumps


Dow jumps after Trump says China wants to make trade deal

President Donald Trump said Friday that China “wants to make a deal” on trade with the United States, but he also warned that any pact has to be “reciprocal.”

Trump’s comments sent the Dow Jones Industrial Average to its high of the day, briefly trading more than 200 points higher in session highs.

But White House officials immediately after Trump’s remarks told CNBC that people should not read too much into those claims, because there is no sign of a deal coming soon.

After CNBC aired that qualification, the DJIA gave back nearly all of its gains seen on Trump’s statement.

The president spoke to reporters in the Oval Office during the signing of a cybersecurity bill at the White House.

“China wants to make a deal,” Trump said, adding that China had recently sent a list of trade items the nation is open to compromise on.

“Large list,” Trump noted.

The president said that tariffs the United States recently imposed on a range of Chinese products have put pressure on that country to agree to a trade pact.

“I think we’ll have a deal. We’ll find out very soon,” he said.

“We have to have reciprocal trade. We can’t have trade that’s meant for stupid people, and that’s the way they took advantage of our country.”

Trump said, “China has taken advantage of the United States for many, many years” by virtue of trading arrangements that had Americans buying billions of dollars worth of Chinese products every year and China buying relatively few American-made products.

“We have helped create China as we know it today,” Trump said.

— Additional reporting by CNBC’s Eamon Javers


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: dan mangan, fred imbert, kevin lamarque
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Trump trade war with China could disrupt traditional Thanksgiving rally

As stocks enter the short Thanksgiving holiday week, investors looking for any signs of a market comeback are paying close attention to trade developments with China. According to the Stock Trader’s Almanac, the Dow was up in the week before Thanksgiving 19 of the past 24 years. Since 1988, the Almanac says, the Dow was higher Wednesday and Friday of Thanksgiving week 18 of 29 times. Positive trade developments could be a catalyst that could snap the stock market out of its funk and ignite a yea


As stocks enter the short Thanksgiving holiday week, investors looking for any signs of a market comeback are paying close attention to trade developments with China. According to the Stock Trader’s Almanac, the Dow was up in the week before Thanksgiving 19 of the past 24 years. Since 1988, the Almanac says, the Dow was higher Wednesday and Friday of Thanksgiving week 18 of 29 times. Positive trade developments could be a catalyst that could snap the stock market out of its funk and ignite a yea
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Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: patti domm, thomas peter-pool, getty images news, getty images
Keywords: news, cnbc, companies, china, higher, war, traditional, rally, week, view, thanksgiving, disrupt, stock, trump, signs, positive, trade, market, stocks


Trump trade war with China could disrupt traditional Thanksgiving rally

As stocks enter the short Thanksgiving holiday week, investors looking for any signs of a market comeback are paying close attention to trade developments with China.

President Donald Trump gave the market a boost Friday when he said he was hopeful the U.S. and China would strike a deal on trade, a major focus for stocks. But White House officials later downplayed his comments and said there were no signs of a deal coming soon.

Stocks closed with gains in the S&P 500 and Dow on Friday and a slight loss in the Nasdaq. But the past week was the first negative week in three, with the S&P down 1.6 percent, and Nasdaq off more than 2 percent as tech took a pounding and Apple lost more than 5 percent on the week.

“Everyone knows the 800-pound gorilla in terms of risk is the meeting between Trump and Xi,” said Julian Emanuel, chief equities and derivative strategist at BTIG. The market has been hanging on every development ahead of Trump’s meeting with China President Xi Jinping at the G-20, which begins at the end of the month.

In the week ahead, Wednesday brings durable goods, consumer sentiment and existing home sales data. Retailers continue to report earnings, with Target, TJX, Best Buy and Kohl’s all expected Tuesday.

More often than not the Thanksgiving week is a good time for stocks, but strategists have also been warning the market could retest the October lows before heading higher. According to the Stock Trader’s Almanac, the Dow was up in the week before Thanksgiving 19 of the past 24 years. Since 1988, the Almanac says, the Dow was higher Wednesday and Friday of Thanksgiving week 18 of 29 times.

Strategists had been expecting the post-midterm election period to be a positive for stocks, with the market heading higher in the fourth quarter. But with the recent turbulence, the midterm pattern and even a Santa rally have been in doubt.

“We have been thinking of this basically as the typical 10 percent plus correction that we’ve seen numerous times since the bull market started in 2009. There is literally nothing we have seen over the last seven or eight weeks that would lead us to believe otherwise,” said Emanuel. “The correction started with the uncomfortableness of rates rising too fast, similar to February, and then in the middle of the stock market turn down, it flipped to extreme growth fear. In our view, neither point of view is warranted.”

Emanuel said it may also be a positive that the Fed has slightly changed its tone to sound more dovish. He said that was his perception when Fed Chairman Jerome Powell spoke Thursday and indicated that positive growth overseas is important. The markets have been concerned about global growth being impacted by falling commodities prices, the higher dollar and trade friction.

Positive trade developments could be a catalyst that could snap the stock market out of its funk and ignite a year-end rally, but strategists also say a negative outcome could keep the market under pressure.

CFRA investment strategist Lindsey Bell said “we see the trade dispute with China as the single most concerning issue facing the market near-term.”

“Not much may come from the [Trump-Xi] meeting, which the market may be able to absorb, but a lack of a trade deal or an escalation of the current situation without a plan for resolution by year end could result in an ugly start to 2019 for global equities as well as the U.S.,” Bell wrote.

Some strategists believe there could be some signs of progress made at the Argentina G-20, but Trump may still raise tariffs to 25 percent in January and put tariffs on more goods.

Emanuel said even just signs of potential progress would be a positive. “The president is sensitive to the stock market as a reflection of how people are judging his performance. He looks at the weakness of the several weeks with probably as much, if not more, concern than the average investor, given all the headwinds he’s going to face politically, given the fact you now have a divided government,” said Emanuel. “If we’re right, there’s going to be some sort of progress you can point to. The market will rally well in advance [of the meeting.]”

Barclays economists Friday said in a note that they see more signs of a possible U.S.-China agreement, as the dialogue between the two countries has become more productive ahead of the G-20.

“The potential outline of an agreement: A smaller trade deficit and increased market access in exchange for tariff relief. In our view, a ‘framework agreement’ at the G20 could include commitments by the Chinese to purchase more US exports — primarily in agriculture and aircraft — and steps to increase openness to the Chinese economy for US services companies,” they wrote.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: patti domm, thomas peter-pool, getty images news, getty images
Keywords: news, cnbc, companies, china, higher, war, traditional, rally, week, view, thanksgiving, disrupt, stock, trump, signs, positive, trade, market, stocks


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Cramer’s game plan: Focus on opportunity as market awaits Fed, China news

CNBC’s Jim Cramer will be seeking out “man-made” buying opportunities for investors in the short week before Thanksgiving Day. Some of these opportunities reared their heads Friday, he said on “Mad Money.” He called Trump’s statement on China a “total wildcard,” noting the White House’s scramble to anonymously discredit the idea that they were close to making a new U.S.-China trade pact. “Still, … if the Fed declares victory in the war against inflation, … and the president gets some substan


CNBC’s Jim Cramer will be seeking out “man-made” buying opportunities for investors in the short week before Thanksgiving Day. Some of these opportunities reared their heads Friday, he said on “Mad Money.” He called Trump’s statement on China a “total wildcard,” noting the White House’s scramble to anonymously discredit the idea that they were close to making a new U.S.-China trade pact. “Still, … if the Fed declares victory in the war against inflation, … and the president gets some substan
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Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, cramers, china, awaits, cramer, fed, wildcard, white, week, opportunity, opportunities, chinese, plan, game, trade, market, president, stocks, focus


Cramer's game plan: Focus on opportunity as market awaits Fed, China news

CNBC’s Jim Cramer will be seeking out “man-made” buying opportunities for investors in the short week before Thanksgiving Day.

Some of these opportunities reared their heads Friday, he said on “Mad Money.” Federal Reserve Vice Chairman Richard Clarida told CNBC that the central bank should be more data-dependent and President Donald Trump said Chinese officials wanted to make a trade deal, both of which enabled stocks to pare their weekly losses.

“Immediately, there were questions about … the validity or the sincerity of both of these statements,” Cramer noted, referencing his own concern about the Fed’s lack of rigor in its policymaking.

He called Trump’s statement on China a “total wildcard,” noting the White House’s scramble to anonymously discredit the idea that they were close to making a new U.S.-China trade pact.

“Still, … if the Fed declares victory in the war against inflation, … and the president gets some substantive change from the Chinese, the market’s going to come roaring back,” Cramer said. “On the other hand, if the Fed keeps beating the economy over the head with a series of rate hikes and the president’s simply shining us on, then the industrials and the tech stocks will continue to get mauled by the bear.”

With that in mind, Cramer turned to his game plan for the week ahead:


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: elizabeth gurdus
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No quick win for China on trade despite Kudlow-Navarro dispute, experts say

Peter Navarro, U.S. President Donald Trump’s trade advisor and a hardliner on China, has been sidelined by the White House — but prospects of a trade deal between the world’s two largest economies remain bleak, experts told CNBC. The U.S. and China have engaged in a trade fight this year, with Trump repeatedly attacking China for intellectual property theft, barriers to U.S. companies operating in China, and a massive trade imbalance. The U.S. president is expected to meet Chinese President Xi J


Peter Navarro, U.S. President Donald Trump’s trade advisor and a hardliner on China, has been sidelined by the White House — but prospects of a trade deal between the world’s two largest economies remain bleak, experts told CNBC. The U.S. and China have engaged in a trade fight this year, with Trump repeatedly attacking China for intellectual property theft, barriers to U.S. companies operating in China, and a massive trade imbalance. The U.S. president is expected to meet Chinese President Xi J
No quick win for China on trade despite Kudlow-Navarro dispute, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: yen nee lee, chip somodevilla, getty images, -rajiv biswas, chief economist for asia pacific, ihs markit
Keywords: news, cnbc, companies, worlds, say, navarro, win, dispute, advisor, white, expected, despite, xi, kudlownavarro, house, china, president, experts, quick, trade


No quick win for China on trade despite Kudlow-Navarro dispute, experts say

Peter Navarro, U.S. President Donald Trump’s trade advisor and a hardliner on China, has been sidelined by the White House — but prospects of a trade deal between the world’s two largest economies remain bleak, experts told CNBC.

The U.S. and China have engaged in a trade fight this year, with Trump repeatedly attacking China for intellectual property theft, barriers to U.S. companies operating in China, and a massive trade imbalance. The U.S. president is expected to meet Chinese President Xi Jinping at the G-20 summit in Argentina this month to talk trade.

CNBC reported Wednesday that the White House has deliberately curtailed Navarro’s public profile in the wake of an apparent dispute between him and top economic advisor Larry Kudlow.

Neither Kudlow nor Navarro is expected to depart from the White House.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: yen nee lee, chip somodevilla, getty images, -rajiv biswas, chief economist for asia pacific, ihs markit
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US and China rivalry goes beyond trade, says Ray Dalio, founder of world’s largest hedge fund

The dispute between the U.S. and China over trade deficits and surpluses is rather trivial compared to the broader philosophical differences between the world’s two biggest economic superpowers, Bridgewater Associates founder Ray Dalio told CNBC on Thursday. “The trade war, I think, can be worked out,” the billionaire investor Dalio said in a “Squawk Box” interview on CNBC. Dalio, co-CIO and co-chairman at Bridgewater, said the two nations’ polar opposite methods of governing is the broader, mor


The dispute between the U.S. and China over trade deficits and surpluses is rather trivial compared to the broader philosophical differences between the world’s two biggest economic superpowers, Bridgewater Associates founder Ray Dalio told CNBC on Thursday. “The trade war, I think, can be worked out,” the billionaire investor Dalio said in a “Squawk Box” interview on CNBC. Dalio, co-CIO and co-chairman at Bridgewater, said the two nations’ polar opposite methods of governing is the broader, mor
US and China rivalry goes beyond trade, says Ray Dalio, founder of world’s largest hedge fund Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: matthew j belvedere
Keywords: news, cnbc, companies, goes, billion, plan, fund, trade, thats, largest, hedge, bridgewater, founder, ray, dalio, rivalry, tariffs, chinese, worlds, china


US and China rivalry goes beyond trade, says Ray Dalio, founder of world's largest hedge fund

The dispute between the U.S. and China over trade deficits and surpluses is rather trivial compared to the broader philosophical differences between the world’s two biggest economic superpowers, Bridgewater Associates founder Ray Dalio told CNBC on Thursday.

“The trade war, I think, can be worked out,” the billionaire investor Dalio said in a “Squawk Box” interview on CNBC. But he argued the conflict goes “way beyond the trade war.”

Dalio, co-CIO and co-chairman at Bridgewater, said the two nations’ polar opposite methods of governing is the broader, more difficult issue to reconcile. “It goes back to Confucius in 500 B.C.,” he said.

“It’s basically a top-down versus a bottom-up type of approach,” said Dalio, whose China unit of Bridgewater last month launched its first onshore Chinese investment fund.

“When you look at the 2025 plan in China, the government believes that they should have a plan for making China great” and will coordinate all aspects of public and private enterprise to achieve their goals, he said. “That type of activity is objectionable to the United States” in its free market economy.

The China 2025 plan is a state-backed industrial policy that’s provoked alarm in the West, and is core to Washington’s complaints about Beijing’s technological ambitions.

Dalio appeared on CNBC from the Greenwich Economic Forum in Connecticut where he later spoke to the elite gathering of investment thought leaders.

On stage, he expanded on his thoughts on the U.S.-China rivalry.

“History has shown there’s a concept called the ‘Thucydides Trap,'” he said. “The idea is that, when you have an emerging country that’s a competitive country, competing with an existing power, there is a risk of conflict.”

“In the last 500 years, 16 times that’s happened. And in 12 of those times, there’s war,” said Dalio, in a cautionary tone, while reiterating his belief that the narrow trade dispute between the U.S. and China can be worked out.

A step towards a trade deal could start with a meeting between President Donald Trump and Chinese President Xi Jinping around the summit of the Group of 20 leaders later this month in Argentina.

Alleging a myriad of unfair trade practices, Trump initiated tariffs in March to pressure China to change its ways.

In September, the White House imposed its latest round of levies focused on $200 billion of Chinese products. In response, China put tariffs on $60 billion of U.S. goods.

Trump has also threatened additional tariffs of $267 billion, which would basically cover the rest of all Chinese imports into the U.S.

— CNBC’s Fred Imbert contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: matthew j belvedere
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US trade representative denies report he told business executives next China tariffs on hold

The top American trade negotiator for the White House has denied telling certain executives that planned tariffs are on a back burner. The Financial Times reported Thursday that U.S. Trade Representative Robert Lighthizer had told some executives the next round of China tariffs are on hold, citing a person familiar with the matter. Shares of Caterpillar, a big U.S. company that has been feeling the heat from tariffs, rose more than 4 percent as investors digested the report. But later in the aft


The top American trade negotiator for the White House has denied telling certain executives that planned tariffs are on a back burner. The Financial Times reported Thursday that U.S. Trade Representative Robert Lighthizer had told some executives the next round of China tariffs are on hold, citing a person familiar with the matter. Shares of Caterpillar, a big U.S. company that has been feeling the heat from tariffs, rose more than 4 percent as investors digested the report. But later in the aft
US trade representative denies report he told business executives next China tariffs on hold Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: liz moyer, jonathan ernst
Keywords: news, cnbc, companies, china, trade, lighthizer, telling, representative, told, tariffs, business, times, statement, white, executives, denies, hold, report


US trade representative denies report he told business executives next China tariffs on hold

The top American trade negotiator for the White House has denied telling certain executives that planned tariffs are on a back burner.

The Financial Times reported Thursday that U.S. Trade Representative Robert Lighthizer had told some executives the next round of China tariffs are on hold, citing a person familiar with the matter.

Shares of Caterpillar, a big U.S. company that has been feeling the heat from tariffs, rose more than 4 percent as investors digested the report.

But later in the afternoon, Lighthizer’s office told CNBC, “Ambassador Lighthizer has made no representations to industry executives that future Section 301 tariffs are on hold.” The statement said the plan for tariffs outlined in September “has not changed at all. Any reports to the contrary are incorrect.”


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: liz moyer, jonathan ernst
Keywords: news, cnbc, companies, china, trade, lighthizer, telling, representative, told, tariffs, business, times, statement, white, executives, denies, hold, report


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Huawei voice assistant to rival Amazon Alexa and Google outside China

Huawei is working on its own voice assistant that works outside of China, potentially pitting it against software produced by Google and Amazon. In China, Huawei has its own voice assistant called Xiaoyi which operates in its smart speaker called the AI Cube and its smartphones. Now the technology giant is working on a voice assistant that will work outside China. “In the beginning, we are mainly using Google Assistant and Amazon Alexa” for its AI Cube and smartphones, he said. However, any step


Huawei is working on its own voice assistant that works outside of China, potentially pitting it against software produced by Google and Amazon. In China, Huawei has its own voice assistant called Xiaoyi which operates in its smart speaker called the AI Cube and its smartphones. Now the technology giant is working on a voice assistant that will work outside China. “In the beginning, we are mainly using Google Assistant and Amazon Alexa” for its AI Cube and smartphones, he said. However, any step
Huawei voice assistant to rival Amazon Alexa and Google outside China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: arjun kharpal
Keywords: news, cnbc, companies, china, alexa, smartphones, google, voice, rival, huawei, using, amazon, working, ai, assistant, outside


Huawei voice assistant to rival Amazon Alexa and Google outside China

Huawei is working on its own voice assistant that works outside of China, potentially pitting it against software produced by Google and Amazon.

In China, Huawei has its own voice assistant called Xiaoyi which operates in its smart speaker called the AI Cube and its smartphones. But it is only for the Chinese market.

Now the technology giant is working on a voice assistant that will work outside China.

“We are using our own in China, in (the) future we will also have our own outside of China,” Richard Yu, CEO of Huawei’s consumer business, told CNBC in an exclusive interview.

“In the beginning, we are mainly using Google Assistant and Amazon Alexa” for its AI Cube and smartphones, he said. “We need more time to build our AI (artificial intelligence) services … Later we will expand this outside of China.”

The CEO made clear that it will continue working in partnership with both Amazon and Google. However, any step outside China could put it in direct competition with the two U.S. tech giants, both of which have their voice assistants integrated with various hardware.

Amazon and Google were not immediately available for comment.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: arjun kharpal
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Hong Kong housing prices could fall 25 percent next year if trade war worsens

Hong Kong housing prices could fall 25 percent next year if the trade war between the United States and China worsens, real-estate and investment management company JLL has warned. The forecast is the latest bearish call for what is traditionally one of the world’s most expensive real-estate markets. About 7.4 million people are packed onto mostly small, hilly islands and a jagged peninsula in southern China. Real estate in the former British colony, a special administrative region of the People


Hong Kong housing prices could fall 25 percent next year if the trade war between the United States and China worsens, real-estate and investment management company JLL has warned. The forecast is the latest bearish call for what is traditionally one of the world’s most expensive real-estate markets. About 7.4 million people are packed onto mostly small, hilly islands and a jagged peninsula in southern China. Real estate in the former British colony, a special administrative region of the People
Hong Kong housing prices could fall 25 percent next year if trade war worsens Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: kelly olsen, alex ogle, afp, getty images
Keywords: news, cnbc, companies, housing, traditionally, hong, china, realestate, worlds, united, kong, trade, war, 25, watched, prices, fall, warnedthe, worsens


Hong Kong housing prices could fall 25 percent next year if trade war worsens

Hong Kong housing prices could fall 25 percent next year if the trade war between the United States and China worsens, real-estate and investment management company JLL has warned.

The forecast is the latest bearish call for what is traditionally one of the world’s most expensive real-estate markets.

About 7.4 million people are packed onto mostly small, hilly islands and a jagged peninsula in southern China.

Real estate in the former British colony, a special administrative region of the People’s Republic of China (PRC) since 1997, is closely watched as a key indicator of the health of the broader economy.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: kelly olsen, alex ogle, afp, getty images
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China sends a written response to US trade reform demands

China has delivered a written response to U.S. demands for wide-ranging trade reforms, three U.S. government sources said on Wednesday, a move that could trigger negotiations to bring an end to a withering trade war between the world’s top economies. Trump is expected to meet Chinese President Xi Jinping on the sidelines of a G20 summit in Argentina at the end of November and in early December. The U.S. president has repeatedly railed against Beijing over intellectual property theft, industrial


China has delivered a written response to U.S. demands for wide-ranging trade reforms, three U.S. government sources said on Wednesday, a move that could trigger negotiations to bring an end to a withering trade war between the world’s top economies. Trump is expected to meet Chinese President Xi Jinping on the sidelines of a G20 summit in Argentina at the end of November and in early December. The U.S. president has repeatedly railed against Beijing over intellectual property theft, industrial
China sends a written response to US trade reform demands Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15
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China sends a written response to US trade reform demands

China has delivered a written response to U.S. demands for wide-ranging trade reforms, three U.S. government sources said on Wednesday, a move that could trigger negotiations to bring an end to a withering trade war between the world’s top economies.

U.S. President Donald Trump has imposed tariffs on $250 billion of Chinese imports to force concessions from Beijing on the list of demands that would change the terms of trade between the two countries. China has responded with import tariffs on U.S. goods.

Trump is expected to meet Chinese President Xi Jinping on the sidelines of a G20 summit in Argentina at the end of November and in early December.

The U.S. president has repeatedly railed against Beijing over intellectual property theft, industrial subsidies, Chinese entry barriers to American businesses and the U.S. trade deficit with China.

Three U.S. government sources told Reuters on Wednesday that China had sent a response to U.S. demands on those and other issues.

The sources gave no further details on the content of the response. It was unclear if the response contained concessions that would satisfy Trump’s demands for change.

A U.S. team led by Treasury Under Secretary David Malpass discussed trade issues with a Chinese team via videoconference on Tuesday, a U.S. Treasury spokesperson said on Wednesday.

The United States had said it would not start negotiations on trade until it saw concrete proposals from China to address its concerns.

Earlier this month, after a phone conversation with Xi, Trump said he thought the United States would make a deal with China on trade but stood ready to levy more tariffs on Chinese goods if no progress is made.

The tariff rate on $200 billion in Chinese goods is set to increase to 25 percent from 10 percent on Jan. 1. Trump has also threatened to impose tariffs on all remaining Chinese imports, about $267 billion worth, if Beijing fails to address U.S. demands.

The two countries resumed talks after the call between the two leaders, ending a three month hiatus that saw relations deteriorate as the U.S. accused China of interfering in U.S. domestic politics and seeking to undermine Trump.

U.S. Vice President Mike Pence on Tuesday said Beijing needed to change its behavior to avoid a new cold war with the United States.


Company: cnbc, Activity: cnbc, Date: 2018-11-15
Keywords: news, cnbc, companies, written, sends, china, chinese, demands, beijing, united, response, president, trade, tariffs, trump, reform


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