Asian Shares to Be Pressured, Chipmakers in Focus: Markets Wrap
Stocks in Asia rose Thursday as pushback from authorities against a stronger dollar helped stabilize currencies and restored a sense of confidence in the region’s financial markets.
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Stocks in Asia rose Thursday as pushback from authorities against a stronger dollar helped stabilize currencies and restored a sense of confidence in the region’s financial markets.
President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.
Freddie Mac is seeking regulatory approval to expand into guaranteeing second mortgages, a shift that would potentially drive down costs for Americans seeking to borrow against the equity in their home.
The US economy has “expanded slightly” since late February and firms reported greater difficulty in passing on higher costs, the Federal Reserve said in its Beige Book survey of regional business contacts.
The City of London approved a plan to build a new office block connected to the Grade 2 listed Barbican Centre on Wednesday, despite opposition from residents.
Oct 15, 2019
Bloomberg News
,(Bloomberg) -- Sales of private apartments in Singapore jumped 13% in September even as home-price growth moderated.
Developers in the city-state sold 1,270 apartments last month versus a revised 1,123 in August, according to data from the Urban Redevelopment Authority released Tuesday.
More than one year on from property curbs that took the heat out of the housing market, home prices have begun to rise again, albeit at a more modest pace. Private residential prices increased 0.9% in the three months ended Sept. 30 versus a 1.5% rise in the second quarter, URA figures released earlier this month showed.
That’s against the backdrop of a supply glut -- Singapore has some 24,000 vacant units and another 44,000 in the pipeline, data released in June showed. The excess prompted the government to cut the supply of private residential units under its land sales program in the second half.
In other highlights from the URA figures out Tuesday:
(Updates with additional URA detail)
To contact the reporter on this story: Katrina Nicholas in Singapore at knicholas2@bloomberg.net
To contact the editors responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net, Russell Ward
©2019 Bloomberg L.P.