2019年5月6日
Chinese stocks plunge, recording the largest falls in years
Chinese stocks were hammered on Monday will all major indexes falling between 4.8% to 8%. The Chinese yuan was also hit hard while Hong Kong’s Hang Seng slumped 3.3%.
It reflecting a sudden escalation in trade tensions with the United States following a pair of tweets from US President Donald Trump before Asian markets opened. Trump cited slow progress in reaching a trade deal with China as the reason behind the decision, wrong-footing investors, especially those in China, who had been expecting this week to potentially bring a lasting trade truce between the two nations as soon as Friday.
In response, several media outlets have reported that trade talks between the two sides. For Shanghai Composite Index, Monday’s decline was the largest in percentage terms since February 25, 2016. News that China’s central bank, the PBoC, will cut the required reserve ratio (RRR) for some small and medium-sized banks from May 15 did little to stymie the selling pressure.
There were also reports circulating during the session that China was readying state-backed institutions — referred to as the “National Team” in markets — to step in to help curb the losses in stocks. However, that too had next to no impact on Monday. Reflecting the risk off tone on Monday, government bond yields also fell in response to safe haven buying.
Startup turns 100 non-recyclable plastic bags into a high-end Bluetooth speaker
Gomi Designs is a start-up based in Brighton, England. It collects nonrecyclable plastic waste and turns it into Bluetooth speakers. Its goal is to stop plastic waste from being incinerated or going to landfills. This year, it aims to use at least one ton of this type of plastic waste.
Each speaker is made with the equivalent of 100 plastic bags, which are melted into ovens and then kneaded together to form a “marble dough.” The dough is then placed into compression molds to be made into a speaker’s shape. Finally, the electronic components are inserted, and the speaker is assembled. The body of the speaker is completely recyclable, as its material can be remelted infinitely, without losing its qualities, and then made into something else.
The company is working on new partnerships to make sure all of the returned, damaged or broken electronic components are recycled by other engineering and tech companies.
The demand for Australian wine will soon outstrip supply – due to overseas demand
There is a predicting shortfall in Australian wine production as the drought bites and overseas palates grow ever more discerning and demanding. This all comes after what they call “a challenging decade” in Australian wine production, that saw many producers pull out their vines as growth became glut and wine inventories grew.
Wine Australia reports 2018 saw the highest rate of growth in the value of wine exports in 15 years, rising 20 per cent to $2.76 billion. China its largest market representing 33 per cent of exports, with Hong Kong representing an additional 5 per cent.
Australia has been very strong in the commercial half of the USA market (54 per cent of the US off-trade volume is wines under US$8 per bottle), but this market is shrinking. Colliers noted the cost of water was now becoming the largest cost in producing wine as the continued drought across the Murray-Darling Basin bites rural Australia.
ABS data recently showed changing water availability and poor forecasts for rain had increased water used in irrigation with 13 per cent more businesses buying water in the period. The ABS said water use in irrigation was up 7 per cent to 9.7 million megalitres in 2017-18, with water use on grapevines alone up 9 per cent for the year as the effects of the drought hit.
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