Airline stocks in Asia take a hit amid growing coronavirus fears in China

Travel-related stocks in Asia fell on Tuesday amid growing fears surrounding an outbreak of a mysterious virus in China that has killed four people so far. Hong Kong-listed shares of China Eastern Airlines and China Southern Airlines dropped 6.7% and 6.51%, respectively, and Cathay Pacific plummeted 4.07%. Outside China, cases have also been confirmed in Thailand, Japan and South Korea, according to the Centers for Disease Control and Prevention. SARS killed 800 people — most of them from China


Travel-related stocks in Asia fell on Tuesday amid growing fears surrounding an outbreak of a mysterious virus in China that has killed four people so far.
Hong Kong-listed shares of China Eastern Airlines and China Southern Airlines dropped 6.7% and 6.51%, respectively, and Cathay Pacific plummeted 4.07%.
Outside China, cases have also been confirmed in Thailand, Japan and South Korea, according to the Centers for Disease Control and Prevention.
SARS killed 800 people — most of them from China
Airline stocks in Asia take a hit amid growing coronavirus fears in China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: eustance huang
Keywords: news, cnbc, companies, airlines, china, hit, airline, lot, amid, actually, coronavirus, fears, hong, stocks, fell, adenwala, sars, confirmed, virus, growing, asia


Airline stocks in Asia take a hit amid growing coronavirus fears in China

A man wears a mask while riding on mobike past the closed Huanan Seafood Wholesale Market, which has been linked to cases of Coronavirus, on January 17, 2020 in Wuhan, Hubei province, China.

Travel-related stocks in Asia fell on Tuesday amid growing fears surrounding an outbreak of a mysterious virus in China that has killed four people so far.

Airline stocks across the region took a hit. Hong Kong-listed shares of China Eastern Airlines and China Southern Airlines dropped 6.7% and 6.51%, respectively, and Cathay Pacific plummeted 4.07%. Elsewhere, Japan Airlines slipped 2.97% in Japan while ANA shed 2.16%. Australia’s Qantas fell 1.7%.

In Hong Kong, shares of insurers tumbled as AIA fell 3.42%. Hong Kong-listed shares of Ping An and China Life Insurance also dropped 4.31% and 4.95%, respectively. Stocks of casino operators also fell, with Wynn Macau plunging 4.81% and Melco International Development diving 4.35%. Wynn has a significant exposure to China.

Chinese authorities on Tuesday confirmed a fourth death in an ongoing coronavirus outbreak in the country, bringing the total number of confirmed cases to more than 200, Reuters reported.

An official has also confirmed that the disease can spread from person-to-person, the report said.

Outside China, cases have also been confirmed in Thailand, Japan and South Korea, according to the Centers for Disease Control and Prevention.

“The biggest risk actually is about the fact that Chinese … New Year is just around the corner, so the number of tourists domestically who will be just travelling within China actually adds to risk about … how widely could this virus spread from people-to-people contact in the shortest span of time than any other time of the year,” Waqas Adenwala, Asia analyst at the Economist Intelligence Unit, told CNBC’s “Street Signs” on Tuesday.

Adenwala said the business impact could extend beyond tourism-related firms such as airlines due to the upcoming festive season.

“You will actually see a lot of impact on people who’re running, you know, big retail conglomerates to as well, or FMCGs where you’d actually see a lot of people going in to buy festive products just ahead of the celebrations,” Adenwala said, referring to fast-moving consumer goods which are typically sold quickly at a low cost.

Hundreds of millions of Chinese citizens are expected to travel domestically and internationally during the extended Lunar New Year holiday which starts on Saturday.

The annual mass movement of people has ignited fears of a further spread of the virus and kindled memories of the fatal Severe Acute Respiratory Syndrome (SARS) pandemic in 2002 and 2003. SARS killed 800 people — most of them from China and Hong Kong — during that period, according to data from the World Health Organization.

Also caused by a coronavirus, the SARS pandemic cost the global economy tens of billions of dollars.

The current situation is “slightly helped” by the presence of online commerce today as compared to the time of the SARS outbreak, Adenwala said.

“With the digital age, you can actually consume a lot, buy a lot of things online,” Adenwala said. “Back then, you didn’t have a lot of tourists or a lot of consumers going online to shop as much as you can see them doing now.”

— CNBC’s Huileng Tan contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: eustance huang
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Hong Kong leader Carrie Lam says she’s ‘very disappointed’ by rating downgrade

Hong Kong’s top politician Carrie Lam said she is “very disappointed” by the Moody’s ratings downgrade for the city-state. The chief executive said she was even more upset by the reasons given by the ratings agency. Last week, Lam announced a $1.3 billion fiscal pledge, designed to kickstart Hong Kong’s muddling economy back into life. On Tuesday, Moody’s ratings agency appeared to dismiss that plan by cutting the city’s rating by one level. Fellow ratings agency Fitch had already downgraded the


Hong Kong’s top politician Carrie Lam said she is “very disappointed” by the Moody’s ratings downgrade for the city-state.
The chief executive said she was even more upset by the reasons given by the ratings agency.
Last week, Lam announced a $1.3 billion fiscal pledge, designed to kickstart Hong Kong’s muddling economy back into life.
On Tuesday, Moody’s ratings agency appeared to dismiss that plan by cutting the city’s rating by one level.
Fellow ratings agency Fitch had already downgraded the
Hong Kong leader Carrie Lam says she’s ‘very disappointed’ by rating downgrade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: david reid
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Hong Kong leader Carrie Lam says she's 'very disappointed' by rating downgrade

Hong Kong’s top politician Carrie Lam said she is “very disappointed” by the Moody’s ratings downgrade for the city-state.

Speaking to CNBC’s Geoff Cutmore at the World Economic Forum (WEF) in Davos Lam said: “We are very disappointed by the downgrading by Moody’s from Aa2 to Aa3.”

The chief executive said she was even more upset by the reasons given by the ratings agency.

“If you ask me, I am even more disappointed by their assessment of the Hong Kong situation and their comment on the ‘weak institutions and governance,’ because after seven months of unrest, what has proven to be resilient is Hong Kong’s institutions and governance.”

Last week, Lam announced a $1.3 billion fiscal pledge, designed to kickstart Hong Kong’s muddling economy back into life. On Tuesday, Moody’s ratings agency appeared to dismiss that plan by cutting the city’s rating by one level. Fellow ratings agency Fitch had already downgraded the city-state in September last year.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: david reid
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Carrie Lam suggests foreign influence in Hong Kong protests: ‘Perhaps there is something at work’

Hong Kong leader Carrie Lam hasn’t ruled out the possibility that a foreign country has funded political protests that have roiled the city-state over the last nine months. Asked by CNBC’s Geoff Cutmore on Tuesday about who might be backing the demonstrators, who have appeared to be well organized, she said: “Well, I have no conclusive evidence to answer your question, but it is for all to see that what has happened in Hong Kong on this occasion has attracted disproportionate commentary from Wes


Hong Kong leader Carrie Lam hasn’t ruled out the possibility that a foreign country has funded political protests that have roiled the city-state over the last nine months.
Asked by CNBC’s Geoff Cutmore on Tuesday about who might be backing the demonstrators, who have appeared to be well organized, she said: “Well, I have no conclusive evidence to answer your question, but it is for all to see that what has happened in Hong Kong on this occasion has attracted disproportionate commentary from Wes
Carrie Lam suggests foreign influence in Hong Kong protests: ‘Perhaps there is something at work’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: matt clinch
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Carrie Lam suggests foreign influence in Hong Kong protests: 'Perhaps there is something at work'

Hong Kong leader Carrie Lam hasn’t ruled out the possibility that a foreign country has funded political protests that have roiled the city-state over the last nine months.

Asked by CNBC’s Geoff Cutmore on Tuesday about who might be backing the demonstrators, who have appeared to be well organized, she said: “Well, I have no conclusive evidence to answer your question, but it is for all to see that what has happened in Hong Kong on this occasion has attracted disproportionate commentary from Western media, from overseas governments and politicians.”

“At the same time we have seen riots taking place in other parts of the world, but the disproportionate reporting of Hong Kong has been assessed by an agency on fair reporting in the United States,” she said in an interview at the World Economic Forum in Davos, Switzerland. Several Chinese media reports have pointed to a report by FAIR, a media critique organization based in New York, which was released in December.

“And I do feel that perhaps there is something at work, although I said there hasn’t been any conclusive evidence, so there is a bigger picture other than the domestic situation,” Lam said.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: matt clinch
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Beijing will leave Hong Kong to resolve protests, HKEX chair says

The Chinese government should and will let authorities in Hong Kong resolve the continued public protests that have beset the financial center, according to the chair of the Hong Kong Stock Exchange (HKEX). Hong Kong has witnessed more than nine months of protests over a now suspended extradition bill that would have allowed people in the city to be sent to the mainland for trial. Speaking to CNBC’s Geoff Cutmore at the World Economic Forum in Davos on Monday, the chair of the Hong Kong Stock Ex


The Chinese government should and will let authorities in Hong Kong resolve the continued public protests that have beset the financial center, according to the chair of the Hong Kong Stock Exchange (HKEX).
Hong Kong has witnessed more than nine months of protests over a now suspended extradition bill that would have allowed people in the city to be sent to the mainland for trial.
Speaking to CNBC’s Geoff Cutmore at the World Economic Forum in Davos on Monday, the chair of the Hong Kong Stock Ex
Beijing will leave Hong Kong to resolve protests, HKEX chair says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: david reid
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Beijing will leave Hong Kong to resolve protests, HKEX chair says

The Chinese government should and will let authorities in Hong Kong resolve the continued public protests that have beset the financial center, according to the chair of the Hong Kong Stock Exchange (HKEX).

Hong Kong has witnessed more than nine months of protests over a now suspended extradition bill that would have allowed people in the city to be sent to the mainland for trial. The public disorder has spread to consider other issues such as rampant property prices. The most recent rally on Sunday once again turned violent.

Speaking to CNBC’s Geoff Cutmore at the World Economic Forum in Davos on Monday, the chair of the Hong Kong Stock Exchange, Laura Cha, said she felt Beijing would resist from interfering.

“I believe that it will, and it should. It is a local issue under one country, two systems,” said Cha.

For 10 years until 2018, Cha was a member of China’s National People’s Congress, acting as the Hong Kong deputy. The businesswoman added she believed that Hong Kong would soon be able to tackle the issues that have led to the unrest.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: david reid
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Thousands-strong Hong Kong protest cut short by clashes

Police stand guard during a protest at the New Town Plaza shopping mall in Shatin in Hong Kong on December 15, 2019. They held up signs that read “Free Hong Kong” and waved American and British flags. Hong Kong media outlets reported that police arrested the rally’s organizer, Ventus Lau, shortly after he spoke to reporters. “I think Hong Kong has not been the focus of the world anymore,” he said. A former British colony, Hong Kong was returned to China in 1997.


Police stand guard during a protest at the New Town Plaza shopping mall in Shatin in Hong Kong on December 15, 2019.
They held up signs that read “Free Hong Kong” and waved American and British flags.
Hong Kong media outlets reported that police arrested the rally’s organizer, Ventus Lau, shortly after he spoke to reporters.
“I think Hong Kong has not been the focus of the world anymore,” he said.
A former British colony, Hong Kong was returned to China in 1997.
Thousands-strong Hong Kong protest cut short by clashes Cached Page below :
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Thousands-strong Hong Kong protest cut short by clashes

Police stand guard during a protest at the New Town Plaza shopping mall in Shatin in Hong Kong on December 15, 2019.

Clashes broke out between protesters and police in Hong Kong on Sunday, cutting short a rally after thousands had gathered at a park to call for electoral reforms and a boycott of the Chinese Communist Party.

Police fired tear gas near the park, known as Chater Garden, after some protesters attacked plainclothes officers — a return to the violence that has roiled the Chinese territory off and on for months.

Sporting their movement’s trademark black clothing and face masks, rally participants had earlier packed into Chater Garden, located near the city’s Legislative Council building. They held up signs that read “Free Hong Kong” and waved American and British flags.

“We want real universal suffrage,” the protesters chanted. “Disband the police force, free Hong Kong!”

Hong Kong media outlets reported that police arrested the rally’s organizer, Ventus Lau, shortly after he spoke to reporters.

Local broadcaster RTHK cited fellow organizers as saying that Lau was arrested for allegedly violating the police’s conditions for the rally.

Earlier in the day, Lau said he believes more large-scale protests are needed for global attention to return to Hong Kong, with the protest movement losing some of its momentum in recent weeks.

“I think Hong Kong has not been the focus of the world anymore,” he said.

He urged other countries to launch sanctions against Hong Kong’s government if it does not allow residents to directly elect Legislative Council members this year.

A former British colony, Hong Kong was returned to China in 1997. While the framework of “one country, two systems” promises the city greater democratic rights than are afforded to the mainland, protesters say their freedoms have been steadily eroding under Chinese President Xi Jinping.

Frictions between democracy-minded Hong Kongers and the Communist Party-ruled central government in Beijing came to a head last June, when proposed extradition legislation sparked months of mass demonstrations.


Company: cnbc, Activity: cnbc, Date: 2020-01-19
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European stocks climb as China’s GDP grows as expected; Stoxx 600 hits record high; Casino down 12%

European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets. The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory. Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains. A strong handover from Wall Street, which saw the


European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets.
The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory.
Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains.
A strong handover from Wall Street, which saw the
European stocks climb as China’s GDP grows as expected; Stoxx 600 hits record high; Casino down 12% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: elliot smith
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European stocks climb as China's GDP grows as expected; Stoxx 600 hits record high; Casino down 12%

European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets.

The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory.

The world’s second-largest economy grew by 6.1% in 2019, its slowest in 29 years but meeting analyst expectations even amid the protracted trade war with the U.S., which reached a truce this week after Washington and Beijing signed an initial “phase one” trade deal.

Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains. A strong handover from Wall Street, which saw the S&P 500 hit record highs on Thursday following a host of strong earnings reports from major banks, also offered positive momentum.

In corporate news, Swiss luxury goods giant Richemont on Friday reported a slowdown in sales growth as political unrest in Hong Kong weighed on its fourth-quarter turnover. Richemont shares climbed 4.9% in early trade.

Volkswagen CEO Herbert Diess said on Thursday that the German carmaker must accelerate urgent reforms to its business in order to avoid the same fate as Nokia, which relinquished its handset market dominance to Apple, Reuters reported.

Investors will also be monitoring key December inflation data and November construction output figures out of the euro area, due at 10 a.m. London time on Friday. U.K. retail sales are due at 9:30 a.m.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: elliot smith
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Hong Kong protesters are voting with their wallets

The latest division in Hong Kong isn’t driven by posters and protests — it’s driven by consumers’ wallets as people vote with their money. The grass roots movement distinguishes businesses as yellow if they are vocal about the demonstrations, or assumed to be promoting the pro-democracy protests. Blue, on the other hand, is used for businesses perceived to be either against the protesters and/or are backing the government and police. One Instagram account, for instance, has amassed more than 190


The latest division in Hong Kong isn’t driven by posters and protests — it’s driven by consumers’ wallets as people vote with their money.
The grass roots movement distinguishes businesses as yellow if they are vocal about the demonstrations, or assumed to be promoting the pro-democracy protests.
Blue, on the other hand, is used for businesses perceived to be either against the protesters and/or are backing the government and police.
One Instagram account, for instance, has amassed more than 190
Hong Kong protesters are voting with their wallets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: uptin saiidi
Keywords: news, cnbc, companies, protesters, protests, second, hong, voting, economy, yellow, yearswhile, kong, wallets, driven, 2019, businesses


Hong Kong protesters are voting with their wallets

The latest division in Hong Kong isn’t driven by posters and protests — it’s driven by consumers’ wallets as people vote with their money.

The city’s economy shrank in the second and third quarter of 2019, marking a technical recession and the first time in a decade its economy weakened for two consecutive quarters. The government forecasts the economy will contract by 1.3% in 2019 as the Asian financial hub braces for its first budget deficit in 15 years.

While most businesses want to stay out of politics, many have faced declining sales — partially as a result of a 40% decline in visitor numbers in the second half of 2019.

Yet, phone apps have popped up showing maps of businesses believed to be supporting the protests, as well as those that are not. The grass roots movement distinguishes businesses as yellow if they are vocal about the demonstrations, or assumed to be promoting the pro-democracy protests. Blue, on the other hand, is used for businesses perceived to be either against the protesters and/or are backing the government and police.

One Instagram account, for instance, has amassed more than 190,000 followers since its launch in September and shows and promotes, so-called “yellow businesses” that support the protests.

CNBC visited several businesses, including Lung Moon Restaurant in Hong Kong’s Causeway Bay district, which has a sign on its window declaring: Stand with Hong Kong.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: uptin saiidi
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Almost 40% of the world’s countries will witness civil unrest in 2020, research claims

Protesters march on a street during a rally against the extradition law proposal on June 9, 2019 in Hong Kong China. (Photo by Anthony Kwan/Getty Images)Almost a quarter of the world’s countries witnessed a surge in protest and unrest last year and that figure is set to rise further in 2020, according to a new study. There are 195 countries in the world, if the Vatican and Palestine are included, and a newly released index of civil unrest has claimed that 47 of those states witnessed a rise in c


Protesters march on a street during a rally against the extradition law proposal on June 9, 2019 in Hong Kong China.
(Photo by Anthony Kwan/Getty Images)Almost a quarter of the world’s countries witnessed a surge in protest and unrest last year and that figure is set to rise further in 2020, according to a new study.
There are 195 countries in the world, if the Vatican and Palestine are included, and a newly released index of civil unrest has claimed that 47 of those states witnessed a rise in c
Almost 40% of the world’s countries will witness civil unrest in 2020, research claims Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: david reid
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Almost 40% of the world's countries will witness civil unrest in 2020, research claims

Protesters march on a street during a rally against the extradition law proposal on June 9, 2019 in Hong Kong China. Hundreds of thousands of protesters marched in Hong Kong in Sunday against a controversial extradition bill that would allow suspected criminals to be sent to mainland China for trial.(Photo by Anthony Kwan/Getty Images)

Almost a quarter of the world’s countries witnessed a surge in protest and unrest last year and that figure is set to rise further in 2020, according to a new study.

There are 195 countries in the world, if the Vatican and Palestine are included, and a newly released index of civil unrest has claimed that 47 of those states witnessed a rise in civil unrest in 2019.

The data model, published Thursday by socio-economic and political analysis firm Verisk Maplecroft, has also predicted that in 2020, the number will balloon to 75 countries.

The U.K. consultancy identified Hong Kong and Chile as the two flashpoints suffering the largest increases in unrest since the beginning of 2019. Neither country is expected to find peace for at least two years, according to the research.

Other areas now considered hotbeds of civil protest include Nigeria, Lebanon and Bolivia. Beyond these three, countries dropping into a category labeled “extreme risk” include Ethiopia, India, Pakistan and Zimbabwe.

Since the previous index release, Sudan has overtaken Yemen to become the highest risk country globally.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: david reid
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China-US phase one deal could give Hong Kong’s port a much-needed boost

Aerial view of the Hong Kong Container Terminals and the Stonecutters Bridge with the back ground of the Hong Kong island. We’ll be able to plan better and we’ll be able to bring more volume back to Hong Kong.” The Port of Hong Kong was the world’s busiest container port by volume in 2004, according to the Hong Kong Port and Maritime Board. According to the World Shipping Council, Hong Kong Port was the seventh largest in the world in 2018. “There is very little exported from here that is manufa


Aerial view of the Hong Kong Container Terminals and the Stonecutters Bridge with the back ground of the Hong Kong island.
We’ll be able to plan better and we’ll be able to bring more volume back to Hong Kong.”
The Port of Hong Kong was the world’s busiest container port by volume in 2004, according to the Hong Kong Port and Maritime Board.
According to the World Shipping Council, Hong Kong Port was the seventh largest in the world in 2018.
“There is very little exported from here that is manufa
China-US phase one deal could give Hong Kong’s port a much-needed boost Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: grace shao
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China-US phase one deal could give Hong Kong's port a much-needed boost

Aerial view of the Hong Kong Container Terminals and the Stonecutters Bridge with the back ground of the Hong Kong island. Geovien So | SOPA Images | LightRocket | Getty Images

The port of Hong Kong, once the world’s busiest, could get a boost after the phase one trade deal between the U.S. and China is signed, according to the managing director of Modern Terminals. The ambiguity brought on by the trade dispute between China and the U.S. in the last two years has created a lot of uncertainty for businesses, particularly for the port business, said Peter Levesque of Modern Terminals — the second largest container terminal operator in Hong Kong. He added that he hopes both sides can get this initial deal implemented. “It’s almost impossible to put a game plan together when the goal post is moving almost daily,” Levesque told CNBC’s “Squawk Box” on Wednesday. “So we hope that through phase one agreement that we’ll be able to get a lot more certainty around what the future looks like. We’ll be able to plan better and we’ll be able to bring more volume back to Hong Kong.”

Shanghai overtakes Hong Kong as busiest port

Levesque, who has been a resident of Hong Kong for 25 years, said he witnessed the the territory’s handover to China in 1997, as well as China’s rapid economic growth. The Port of Hong Kong was the world’s busiest container port by volume in 2004, according to the Hong Kong Port and Maritime Board. But it has since been overtaken by others in the region — a worrying trend as the port business is one of the key drivers of Hong Kong’s economy. According to the World Shipping Council, Hong Kong Port was the seventh largest in the world in 2018. Four mainland Chinese ports — Shanghai, Ningbo-Zhousan, Shenzhen, Guangzhou — were among the top 5 world container ports by volume in the world that year.

Hopefully both sides can step back … and hopefully we can get there without having any miscommunications and misunderstandings that set us back again. Peter Levesque managing director of Modern Terminals

Hong Kong’s port activities are mostly made up of transshipment businesses, and only about 14% to 15% of that business is trans-pacific to the United States, according to Levesque. “There is very little exported from here that is manufactured in Hong Kong. We’re taking business, we’re moving shipments through China, through Hong Kong to the rest of the world. And then in the opposite direction, through Hong Kong back into China,” he said. Hong Kong’s economy entered a technical recession in the third quarter of 2019, and contracted by 3.2% quarter-on-quarter in real terms, after declining by 0.5% in the preceding quarter. “When China and the United States aren’t agreeing with each other, it actually affects all markets. And that’s just something we hope to rebound with the implementation of phase one,” Levesque added.

Impact of phase one trade deal

“China agreeing to buy another $200 billion worth of goods and services from the United States, and I think more importantly, addressing the issues around IP (intellectual property) protection and forced technology transfer and opening up markets more for financial industry and the insurance industry — those are major positive steps. And the U.S. side then coming back and lowering tariffs,” Levesque said. “Hopefully both sides can step back and take a deep breath and get this phase one into implementation and hopefully we can get there without having any miscommunications and misunderstandings that set us back again,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: grace shao
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Taiwan reelects president in landslide win as voters oppose China influence

Tsai Ing-Wen (C) waves as she addresses supporters following her re-election as President of Taiwan on January 11, 2020 in Taipei, Taiwan. Taiwanese re-elected President Tsai Ing-wen by a landslide on Saturday in a stern rebuke that could fuel further tension with China, which has tried military threats and economic inducements to get the island to accept its rule. China claims Taiwan as its sacred territory, to be taken by force if needed, a threat President Xi Jinping reiterated a year ago whi


Tsai Ing-Wen (C) waves as she addresses supporters following her re-election as President of Taiwan on January 11, 2020 in Taipei, Taiwan.
Taiwanese re-elected President Tsai Ing-wen by a landslide on Saturday in a stern rebuke that could fuel further tension with China, which has tried military threats and economic inducements to get the island to accept its rule.
China claims Taiwan as its sacred territory, to be taken by force if needed, a threat President Xi Jinping reiterated a year ago whi
Taiwan reelects president in landslide win as voters oppose China influence Cached Page below :
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Taiwan reelects president in landslide win as voters oppose China influence

Tsai Ing-Wen (C) waves as she addresses supporters following her re-election as President of Taiwan on January 11, 2020 in Taipei, Taiwan.

Taiwanese re-elected President Tsai Ing-wen by a landslide on Saturday in a stern rebuke that could fuel further tension with China, which has tried military threats and economic inducements to get the island to accept its rule.

Anti-government unrest in Chinese-ruled Hong Kong took center stage during a campaign in which Tsai held up Taiwan as a beacon of hope for protesters in the former British colony and rejected Beijing’s offer of a “one country, two systems” model.

China claims Taiwan as its sacred territory, to be taken by force if needed, a threat President Xi Jinping reiterated a year ago while saying he preferred a peaceful solution.

“One country, two systems,” which gives a high degree of autonomy, much as Beijing uses in Hong Kong, has never been popular in Taiwan and is even less so after months of protests in Hong Kong.

China made itself even more unpopular in Taiwan in the run-up to the election by twice sailing its newest aircraft carrier through the sensitive Taiwan Strait, denounced by Taipei as an effort at military intimidation.

“We hope that the Beijing authorities can understand that a democratic Taiwan with a government chosen by the people will not give in to threats and intimidation,” Tsai told reporters.

Beijing needs to understand the will of Taiwan’s people, and that only Taiwan’s people can decide its future, she added, repeating her firm opposition to “one country, two systems”.

China’s Taiwan Affairs Office, in a statement carried by state media, reaffirmed its commitment to this approach and its opposition to any form of independence.

Tsai beat her main opponent Han Kuo-yu of the Kuomintang party, which favors close ties with China, by more than 2.6 million votes. Underscoring the scale of her victory, Tsai’s Democratic Progressive Party also won a majority in parliament.

The United States, Taiwan’s strongest international backer and main arms supplier, congratulated Tsai. Secretary of State Mike Pompeo called Taiwan a “force for good in the world.”

“The United States thanks President Tsai for her leadership in developing a strong partnership with the United States and applauds her commitment to maintaining cross-Strait stability in the face of unrelenting pressure,” Pompeo said in a statement.


Company: cnbc, Activity: cnbc, Date: 2020-01-11
Keywords: news, cnbc, companies, president, china, country, hong, threats, united, reelects, landslide, voters, influence, understand, oppose, states, win, tsai, taiwan, taiwans


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