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Hong Kong rates reach 2008 high after US$6.5b intervention

HONG KONG, April 19 — Hong Kong’s costly defence of its currency peg is starting to impact interbank rates. The Hong Kong Monetary Authority has mopped up HK$51.3 billion (RM3.2 billion) of local dollars since the currency hit the weak end…


China posts strong 1Q growth, hearty consumer demand buffers trade worries for now

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BEIJING (April 17): China’s economy grew at a slightly faster-than-expected pace of 6.8% in the first quarter, buoyed by strong consumer demand, healthy exports and robust property investment. Resilience in the world’s second-largest economy will likely help keep a synchronized global recovery on track for a while longer, even as China faces rising trade tensions with the United States that could impact billions of dollars in business. But economists still expect China will lose some momentum in coming quarters as Beijing forces local governments to scale back infrastructure projects toRead More


London house prices fall in stark division with rest of UK

LONDON, April 16 — Home prices in London are continuing to fall, prolonging a slump that’s seen the average property in the capital lose almost 2 per cent its value over the past year, surveys showed today. The UK market is “starkly…


Singapore private home prices rise 3.1pc, highest quarterly price jump since 2010

SINGAPORE, April 3 — Private home prices rose the highest in almost eight years for the first quarter, surprising analysts who were predicting a moderate price increase. This prompted some of them to revise their market forecast for non-landed…


Singapore home prices post biggest jump in almost eight years

SINGAPORE, April 2 — Singapore private home prices surged the most since 2010 as the property market staged a recovery from a four-year slump. An index tracking private residential prices jumped 3.1 per cent in the three months ended March 31,…


Country Garden profit rises, upbeat on sales in Malaysia

HONG KONG: China’s Country Garden Holdings Co Ltd said annual core profit doubled to a record on robust domestic sales and was hopeful about a high-profile property project in Malaysia despite a sharp drop in sales to mainland Chinese buyers. Many of China’s major property developers are expected to book their annual best-ever profits for […]


US existing home sales bounce back after two months of declines

WASHINGTON, March 21 — Sales of existing homes bounced back in February after two months of declines, boosted by big gains in the South and West, according to US industry figures released today. The National Association of Realtors said the…


China’s Feb new home price growth slows as big cities decline

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(March 19): China’s new home price growth slowed in February from the previous month as a raft of government curbs aimed at tempering speculative demand softened prices in the biggest cities, although overall growth remained firm. Average new home prices in China’s 70 major cities rose 0.2 percent in February from the previous month, compared with an increase of 0.3 percent in January, Reuters’ calculations from National Bureau of Statistics (NBS) data on Monday showed. Compared with a year ago, they rose 5.2 percent in the month, picking up from aRead More


Hong Kong mulls tax on unsold apartments to curb soaring prices

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(March 16): Policy would probably not apply ‘across the board’, Chan said Financial Secretary sees significant increase in unsold homes. Hong Kong is considering imposing a tax on unsold apartments in its search for ways to cool the city’s red-hot housing market, a move that could unlock the supply of empty homes being hoarded by developers. Financial Secretary Paul Chan said on an online talk show on Thursday that the number of unsold units had increased significantly so far this year, from the 9,500 vacant new homes at the endRead More


Business titans to watch at China’s big political gathering

BEIJING, March 2 — It’s not just a party of politicians. Among the rich and powerful gathering in Beijing for the annual meetings of China’s legislature and political advisory body are some of the biggest names in business. The stakes are…