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Chinese smartphone manufacturer Xiaomi debuted in Hong Kong Monday 9 July to HK $ 17 per share, rising US $ 4.72 billion ( S $ 6.4 billion ). This brings the value of the company to US $ 54 billion nearly half of its original intent US $ 100 billion . The slice of detail was oversubscribed by 9.5 times . On its first trading day, shares slid 2.9% but rose above the listing price HK $ 21.00 at the time of writing.
Two the minister resigned during the week. British Foreign Secretary Boris Johnson and Brexit Secretary David Davis both resigned due to disagreements over the Brexit negotiations. It was a blow to Prime Minister Theresa May, leaving her at the top of a government unable to agree on her Brexit strategy. Mr Davis criticized his plan, saying it was "dangerous" and that it would give "too much distance, too easily".
The turmoil surrounding his exit from the EU led the British pound to fluctuate for the week. On Monday (9 July), it recorded its largest decline against the US dollar in 3.5 weeks . Contrary to investor opinion, Moody's has hinted that additional cooling measures for real estate in Singapore could benefit banks. He said this would reduce the speculative investment of residential properties and increase banks' buffer zones if real estate prices drop significantly.
As of March 31, 2018, the three largest banks listed in Singapore had between 19459007 and 42% 50% of their loan. portfolio exposed to the real estate sector. Moody's also expects default payments for household loans to remain weak, with total financial assets exceeding 3.5 times household liabilities as at December 31, 2017. The rate of non-performing loans from Singapore for mortgages was only 0.4% at the end of 2017, with an average loan-to-value ratio of only 53% .
The portfolio of Temasek Holdings increased from 12.19% in a year to record S $ 308 billion up from $ 275 billion . The results were largely due to the key holdings listed DBS Group Holdings Limited (SGX: D05), Ping An Insurance Group and Alibaba Group Holding Ltd. displaying sharp increases in respectively 44%, 91% and 73%
Annualized returns over 20 years were 7% up from 6% a year ago The dividend income was S $ 9 billion for the year, and the net profit was $ 21 billion . Temasek's portfolio is divided in the ratio of 60:40 (mature economies to growth economies).
Finally, China declared that it would retaliate against the United States after the latter said it would impose an additional customs duty of 10% on an additional value of US $ 200 billion Chinese imports. They both levied 25% duties on US $ 34 billion merchandise against each other two weeks ago, with another US $ 16 billion expected later. The US Chamber of Commerce has criticized Trump's tariffs. A spokeswoman for the House said duty would increase the cost of everyday goods for Americans and retaliatory tariffs would hurt US workers more.
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Information provided is for informational purposes only and does not constitute personal investment or financial advice. The Motley Fool Singapore has a recommendation on DBS Group Holdings Ltd. Motley Fool Singapore contributor Jeremy Chia holds shares in DBS Group Holdings Ltd and Alibaba Group Holding Ltd.
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