China H2 re-open will save SG from recession due woh

[k1976]

https://www.google.com.sg/amp/s/www...prise-larger-expected-147-drop-may?amp?espv=1

 

[k1976]

SINGAPORE’S non-oil domestic exports (NODX) were down a surprising 14.7 per cent in May, a steeper slide than April’s 9.8 per cent contraction, data from Enterprise Singapore (EnterpriseSG) showed on Friday (Jun 16).

Shrinking for the eighth consecutive month, the month’s fall in key exports far surpassed the median 7.7 per cent drop forecast by economists in a Bloomberg poll. Both electronics and non-electronics exports continued to decline on a year-on-year basis.

This latest data reflects persistent trade headwinds and the difficult global external environment, said DBS economist Chua Han Teng and HSBC economist Yun Liu.

 

[k1976]

Noting the “broadly weaker than expected” readings in 2023 so far, RHB senior economist Barnabas Gan expects NODX to continue to contract into Q3, before recovering in the final quarter.

The bank has downgraded its full-year NODX growth forecast to -8 per cent, from 0 per cent previously.

In May, EnterpriseSG also cut its full-year NODX growth forecast, to -8 per cent to -10 per cent.

 

[k1976]

Based on the latest quarterly survey of professional forecasters, private-sector economists have downgraded their full-year economic growth forecast for Singapore, partly due to a deeper slump in NODX.

Gan expects a double-digit contraction for May’s industrial production and a consequent 1.4 per cent year-on-year fall in Q2 gross domestic product.

“Singapore faces a heightened risk of a technical recession in H1 2023,” he said.

 

[k1976]

Key global central banks likely approaching their peak rate objectives, easing inflation dynamics across key Asian economies, and the hope for more clarity on China’s reopening efforts could lead to a better global growth prognosis in H2 2023, said Gan.

Yun added that a “punchier boost” from China’s re-opening in H2 could have travel-related services “come to the partial rescue” and help prevent a recession this year.

 

[k1976]

China Re-Open story still valid to the our days in 2nd half.... Dun worry de

 

[k1976]

No worries , keep calm , Please keep huat huat, and huat big big

 

[k1976]

China’s millionaires keep leaving, but now outflows may be ‘more damaging than usual’​

• While the annual exodus of US-dollar millionaires is nothing new for China, the conditions under which they are now leaving are unique and raising red flags
• Millionaires are also leaving Russia and India, but which countries are the world’s wealthy most keen on immigrating to?

 

[k1976]

Advisory firm Henley & Partners estimates that mainland China will lose 13,500 high-net-worth individuals – those with investable wealth totalling more than US$1 million – followed by India’s 6,500. The UK, in third, will lose 3,200 such individuals, predicts the London-based investment migration consultancy.


In 2022, China lost 10,800 high-net-worth individuals, followed by Russia’s 8,500 and India’s 7,500, according to data in the “Henley Private Wealth Migration Report 2023” released on Tuesday.


Among the countries considered most attractive to wealthy individuals, Australia took the report’s No 1 spot and is expected to see an inflow of 5,200 high-net-worth individuals in 2023, followed by the United Arab Emirates’ 4,500.

 

[k1976]

The visa-application process typically costs wealthy individuals at least tens of thousands of US dollars, depending on various factors, according to widely available online quotes.


Europe remains a popular destination for China’s rich, but countries such as Portugal and Ireland are ending their investment-linked visa programmes, while Greece has doubled its investment threshold to 500,000 euros (US$540,250) for obtaining a visa by investing in its real estate market.

 

[k1976]

However, the US still attracts more high-net-worth individuals than it loses to emigration, with a net inflow of 2,100 projected for 2023 – a significant drop from 2019 levels, which brought a net inflow of 10,800 millionaires.


Last month, another wealth report produced by New York-based Altrata, citing data from its Wealth-X division, also showed that China saw a decline in its billionaire population by 11 per cent, to 357. And the aggregate value of their wealth diminished by 9.3 per cent, to US$1.3 trillion.


Sluggish economic growth, a slump in the real estate market and a crackdown on the technology industry had weighed on the values of Chinese assets, Altrata said.

 

[k1976]

Interestingly, Singapore is not mentioned in SCMP article, why hah?

 

[k1976]

https://www.google.com.sg/amp/s/amp...-australias-golden-visas-our-life-mess?espv=1

Aussie gov moved fast to squeeze good $$$$$ out of high ses thiongkok immigrants

 

[k1976]

Cheap ‘like cabbage’ apartments in some Chinese cities draw buyers, and caution​

JUN 16, 2023 08:38 AM

BEIJING resident Hu Yongwei bought more than a dozen apartments in the small central Chinese city of Hebi for about US$31,000 in all, betting they will be financially more rewarding than other investments.

Hu, who mostly acquired two- or three-bedroom apartments built about three decades ago, spent 18,000 yuan (S$3,380) this month in purchasing his 15th property in Hebi, where prices have plunged over the last two years.

“The flats were sold very cheaply, like cabbage,” the 39-year-old said, adding his family’s bad experience with the stock market has made him steer clear of shares.

Real estate agents said low-cost apartments in smaller Chinese cities such as Huainan and Rushan in the east, and Gejiu in the south-west, are also being bought, largely by people living outside those locations.

The deals demonstrate that buyers are starting to turn their attention towards smaller cities in China where property prices are some of the cheapest in the country after years-long declines amid a wider sector downturn and a sluggish overall economy.

 

[k1976]

Singapore Airlines Tumbles After Morgan Stanley Slashes Rating​

• Stock rose 33% in the past month after reporting record profit
• Morgan Stanley has bull case target price of S$9.30 on shares

By
Shubhangi Goel
+Follow

16 June 2023 at 13:20 GMT+8Updated on16 June 2023 at 15:55 GMT+8

Morgan Stanley downgraded Singapore Airlines Ltd. after a peer-beating rally over the past month, saying positives such as strong fundamentals and favorable fuel prices have been priced in.


Shares of the carrier tumbled as
much as 5.1% on Friday, the most since Feb. 2022, on track to snap its longest winning streak since 2008. An Asia Pacific gauge of airline stocks traded higher on the day.

 

[k1976]

https://www.theonlinecitizen.com/20...g-91-5-of-total-employment-growth-mom-report/


Very robust job market to sustain the inflow of much needed overseas talents

 

[borom]

Vote for PAP to create more jobs for foreigners , starting with Tharman

 

[syed putra]

Interestingly, Singapore is not mentioned in SCMP article, why hah?

Hongkies hate sinkies. They rather live in ipoh or sabah.

 

[congo9]

Tharman is a sheer waste of talent occupying the useless seat. I think Tharman is underemployed in the position of President.

 

[batman1]

Tharman is a sheer waste of talent occupying the useless seat. I think Tharman is underemployed in the position of President.

The job of president don't have to be so clever.