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US consumer morale at 1.5-year low, house price gains slow

WASHINGTON, Jan 30 — US consumer confidence fell to a 1-1/2-year low in January as a partial shutdown of the government and financial markets turmoil left households a bit nervous about the economy's prospects. The drop in confidence reported by…


China can no longer rely on real estate for growth. It’s now turning to railways and more debt

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Chinese authorities face an ever-growing list of challenges — be it an ongoing trade fight with the U.S. or headwinds in domestic demand — and it appears they don’t have many tools left to spur the economy amid a slowdown. The real estate market in China has traditionally played a major role in its economic development, household wealth and public sentiment. Real estate has been used by Beijing to stimulate growth during previous downturns, including one just three years ago. But along with a Chinese penchant for investing in houses, persistent expectationsRead More


Look Ahead 2019: A subdued year in store for Singapore property market, after a frenzied period

SINGAPORE, Jan 4 — Not since 2007 has the property market had such an eventful year. 2018 will be remembered most for the year the en bloc movement reached fever pitch, which went by with multiple asking prices above S$2 billion (RM6.07 billion),…


US jobless claims signal labour market strength after rough patch

WASHINGTON, Dec 27 — The number of Americans filing applications for jobless benefits fell marginally last week in a sign of labour market strength, with claims appearing to stabilise after drifting higher in recent months. Initial claims for…


Knight Frank sees KL home prices falling

KOTA KINABALU, Dec 26 — Residential prices here fell an average of 0.6 per cent year-on-year in the third quarter of 2018, according to research from global property research firm Knight Frank. In the Knight Frank Global Residential Cities Index…


Australia central bank hold rates as home prices fall

SYDNEY, Dec 4 — Australia's central bank kept interest rates at a record-low today as a drop in house prices accelerated. Borrowing costs have stayed at 1.50 per cent since they were last cut in August 2016, when the economy was transitioning away…


Wall Street dips as weak earnings dampen surge from midterm elections

NEW YORK, Nov 8 — US stocks edged lower today, as a clutch of weak earnings reports punctured a rally from the previous session, which was spurred by the outcome for midterm elections. Wynn Resorts Ltd, Perrigo Co and D.R. Horton Inc were the…


China shares down at midday as Trump said to ready new tariffs

SHANGHAI, Sept 17 — China’s stock markets fell today, dragged by reports that US President Donald Trump is planning to unveil a fresh set of tariffs on US$200 billion (RM828 billion) of imported Chinese goods in the latest volley of a heated…


When the American dream became a mortgage nightmare

MIAMI: A decade ago, as the financial crisis raged in the United States, Jesus Rodriguez told his kids a fib: he was selling the family furniture because they were moving to Disney World. The truth was Rodriguez was desperate for money, having lost his home as did hundreds of thousands of people in the Great […]


China ploughs US$144b into shantytown redevelopment so far in 2018

BEIJING, Aug 16 — China has invested 990 billion yuan (approx. RM 589 billion) for a massive urban redevelopment project in the first seven months of 2018, the housing ministry said today. China’s central bank has injected hundreds of billions…