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Stocks in mainland China emerged as an outlier amid the broad November rally in global markets, with the market extending its run of losses owing to persistent investor concerns about the economic recovery.
Chinese state-backed developer Sino-Ocean Group is in talks with bad-debt manager China Cinda Asset Management over financial support, according to people familiar with the matter.
Activity in China’s manufacturing and services sectors shrank in November, adding to expectations for additional government support for the economic recovery as it struggles to regain steam.
Hong Kong saw a record number of failed land tenders this year with plot-sales revenue headed toward the lowest due to the sector downturn.
Sevva, one of Hong Kong bankers’ go-to restaurants for making and celebrating deals, is closing in May after 16 years of operation.
Nov 21, 2022
, BNN Bloomberg
Canadians are continuing to pay more for rent, with prices climbing by almost 12 per cent in October, according to a report by Rentals.ca.
In its latest report, the Toronto-based rental company said the average rent rose 11.8 per cent in October compared to a year ago. On a monthly basis, the average rental price increased 2.2 per cent from September.
The average monthly rent for all property types hit $1,976, which was $209 more compared to the same month a year ago.
This marked a seven per cent increase from the pre-pandemic high of $1,845 in October 2019.
HOT RENTAL MARKETS
Rental prices are the highest in Vancouver ($2,576), Toronto ($2,478) and Burnaby, B.C. ($2,290).
While Vancouver is the priciest rental market, prices have slipped by 3.5 per cent over the past two months after reaching a high of $3,083 in August.
On the flip side, the cheapest cities to rent in Canada are all located in the Prairies, with Grande Prairie Alta. ($968) coming in first, followed by Red Deer Alta. ($1,017) and Saskatoon ($1,023).
RISING DEMAND IN ATLANTIC CANADA
On a regional basis, monthly rent increased the most in Atlantic Canada.
The average rent for a purpose-built and condominium apartment increased by 32.2 per cent year-over-year, to an average of $2,199 per month.
This was a significantly larger increase than any other Canadian province, with Ontario coming in second at 17.7 per cent, followed by British Columbia at 15.1 per cent.
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