Hong Kong Stocks Are on Their Longest Winning Streak Since 2018
Hong Kong stocks are on their longest-winning streak since 2018, with a growing chorus of market watchers saying the worst of a years-long selloff is probably over.
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Hong Kong stocks are on their longest-winning streak since 2018, with a growing chorus of market watchers saying the worst of a years-long selloff is probably over.
Greg Ward, the Macquarie Group Ltd. banker in charge of the firm’s drive to grab a bigger slice of Australia’s mortgage market, will earn more than the boss of the country’s biggest bank for home loans, as the far smaller rival chips away in the ultra-competitive industry.
Deutsche Bank AG plans to double the assets it manages for rich families in Southeast Asia and the Middle East over the next five years, tapping growing ties between ultra-rich clans in both regions, the lender’s global private banking head said.
The jury in Donald Trump’s hush money criminal trial heard a secret recording in which the former president discussed a payment with his then-lawyer Michael Cohen months before the 2016 election.
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Dec 11, 2020
Bloomberg News
,In the midst of a deep economic crisis, Canadians are becoming a whole lot richer.
The nation’s households have seen their net worth jump by more than $600 billion since the end of last year, according to third-quarter data released Friday by Statistics Canada. That’s despite a downturn that saw 3 million people lose jobs and the unemployment rate surge to historic highs.
The numbers show the extent to which efforts by the Bank of Canada and the federal government to flood the economy with cash have shored up household balance sheets, providing a cushion to the economy. The interest rate cuts by the central bank have stoked the housing market, while government support more than offsets falling incomes.
On a per capita basis, household net worth reached a record $320,441 in the third quarter, up about $12,000 since the end of last year.
The value of land and residential structures held by households, which grew by about $440 billion this year, was the main contributor to the wealth boost.
While mortgage debt is also increasing to finance some of those home purchases, the increase in leverage is nowhere near the gain in asset values. The ratio of debt to assets fell to near the lowest in 15 years.
Sharply higher household net worth was offset by a deterioration in government finances, with state borrowing surging to records this year.