Economy

2023-07-01 03:40:41

© Archyde.com. FILE PHOTO: Under-construction apartments are pictured from a building during sunset in the Shekou area of Shenzhen, Guangdong province, China November 7, 2021. REUTERS/David Kirton/File Photo

BEIJING (Archyde.com) – New home prices in China edged down in June from the previous month, marking a second straight month of declines, and housing sales are likely to remain weak over the summer when demand is usually at a low ebb, according to a private survey.

The average price of new homes in 100 cities fell 0.01% in June, the same-sized decline that was seen in May, data from the China Index Academy showed on Saturday.

Forty-five cities reported price decreases.

For the first half of the year, average prices were up 0.01% from the same period a year earlier.

“In the first quarter, market confidence, driven by a concentrated release of pent-up demand, gradually returned and prices appeared to be recovering,” the real estate research firm said.

“In the second quarter, the pace of market recovery slowed and there was not enough momentum for prices to rise,” it added.

China’s property sector has over the past two years been thrust into a severe debt crisis – initially triggered by government moves to rein in ballooning debt – with many developers defaulting on payments as they struggle to sell apartments and raise funds.

Although local governments have rolled out hundreds of measures to support the sector, and the scrapping of harsh COVID curbs in December has helped somewhat, positive investor sentiment towards the sector has been short-lived.

“If policy support is limited, it will be difficult for home buyer confidence to improve,” China Index Academy said.

The property sector accounts for a roughly a quarter of China’s economy.

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#China #home #prices #edge #June #consecutive #month #Archyde.com

2023-07-01 03:38:46

Stock dimension – TRUE by Krungsri Patanasin Securities indicates that the research department is ‘neutral’ towards TRUE’s Q2/23F earnings outlook. Normalized loss is expected to be reduced to -950 million baht, improved from Q1/23 at -1.85 thousand. minus. support from monthly customers to recover and electricity costs with SG&A

However, the research department is reviewing this year’s earnings down from restructuring costs and the positive effects of delayed-than-expected mergers and acquisitions (synergies). But maintaining our positive view on 2H23F, expected to make a strong recovery hh from service income to grow back on i) full-time declining competition and ii) cross-selling. and doing refinance. However, the valuation is in the investment zone. The share price is trading -26% lower than the pre-merger price. We therefore recommend a “BUY” target of 9 baht/share.

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2023-07-01 00:55:00

[신라면 50원·새우깡 100원 인하, 사진=연합뉴스] As Nongshim cut the factory prices of Shin Ramyun and Shrimp Crackers by 4.5% and 6.9%, respectively, the price of a bag of Shin Ramyun decreased from 1,000 won to 950 won, and shrimp crackers from 1,500 won to 1,400 won.

Samyang Foods is also lowering the price of 12 products, including Samyang Ramen and Jjazzaroni, by an average of 4.7% starting today.

Ottogi cut the price of 15 types of ramen, including Snack Noodles and Jinjjambbong, by an average of 5%, and Paldo also cut the price of 11 types of ramen by an average of 5.1%.

Confectionery and bakery companies also joined in the price cuts.

Lotte Well Food lowered the original price of Ivy by 10% for three products, Pada Coconut, Rossan, and Zeke, by 100 won each.

SPC cut the price of 30 types of bread, including white bread and baguette, by an average of 5%.

However, there is a view that the price reduction effect will not be significant as most of the representative products of each company are excluded from this price reduction target.

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#Price #cuts #Shin #Ramyun #Samyang #Ramyun #snack #noodles #Confectionery #bakery #companies

2023-06-30 22:18:00

FRANKFURT, June 30 (Xinhua) — Mercedes-Benz plans new investments in China, contributing to Germany-China cooperation, Ola Källenius, chairman of the board of the German automaker, said recently in an interview with Xinhua.

On this occasion, he also expressed his satisfaction at having had the opportunity to participate in the China-Germany intergovernmental consultation and to meet Chinese Premier Li Qiang last week.

During Li’s visit, Mercedes-Benz signed a letter of intent with China’s National Development and Reform Commission in Berlin to promote industrial and business cooperation.

This move “creates a basis for joint support for other new energy vehicle (NEV) development projects in China and strengthens existing partnerships,” Källenius said.

Noting that China is the world’s largest automotive market and fastest growing EV market, Mercedes-Benz said the group remains committed to its business activities in China and plans to actively contribute to the growth of the Chinese automotive industry and to strengthen the economic partnership between Germany and China.

The German automaker also said it intends to boost its research and development activities in China, such as automotive software development, and that the size of its local team is expected to double by the end. of 2023 compared to three years ago. END

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