Asia Stocks to Track US Rebound on Profit Optimism: Markets Wrap
European stocks rose for a second day after strong earnings from some of the region’s biggest companies, while positive economic data helped boost sentiment.
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European stocks rose for a second day after strong earnings from some of the region’s biggest companies, while positive economic data helped boost sentiment.
Taylor Wimpey Plc is failing to see lower mortgage rates translate into higher levels of home sales and is maintaining its forecast for fewer deals in 2024.
Chinese mainland investors increased their portion of total turnover of Hong Kong stocks to a record daily average in April, with the latest measures to bolster the city’s position potentially boosting their purchases.
Zhao Xiaowei did what would have been unthinkable just a few years ago: He quit his Beijing barista job and returned to his northeastern rust-belt hometown for a better future.
South Korea is emerging as a closely watched weak link in the $63 trillion world of shadow banking.
Mar 5, 2020
BNN Bloomberg
,Bank of Canada governor Stephen Poloz said Wednesday’s decision to slash the central bank’s benchmark interest rate was an effort to stabilize the country’s housing markets amid growing fears of the spread of COVID-19.
“If consumer confidence will erode because of the virus then you’d expect to see a downdraft in housing,” Poloz told BNN Bloomberg’s Amanda Lang in an exclusive interview on Thursday. “The interest rate move this week is intended to address exactly that. It should help stabilize housing instead of pour extra fuel on a hot housing market.”
The Bank of Canada cut its key interest rate by 50 basis points on Wednesday to 1.25 per cent. In turn, Canada’s Big Five banks slashed prime lending rates that same evening by the same margin, affecting the rates on certain loans and mortgages backed by the individual institutions.
Poloz says that the country’s housing markets have normalized after coming down from its 2018 peaks, thanks in part to new mortgage rules.
“Housing, of course, grew really fast. It recovered quickly during 2019, but as we got into the final months of 2019, that kind of levelled out at a new space,” Poloz said. “I know that resales lately have seemed quite strong year-over-year, but that’s because it was so weak a year ago.”
“I think, in terms of levels, we’re kind of back to normal having absorbed the changes to B-20 and the higher levels of interest rates, et cetera.”