China’s Property Stocks Surge Needs to Go Further: In Charts
China’s property stocks need a sustainable turnaround in order to foster investor confidence that this year’s broader equities recovery can maintain, or even increase its momentum.
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China’s property stocks need a sustainable turnaround in order to foster investor confidence that this year’s broader equities recovery can maintain, or even increase its momentum.
South Korea’s top financial watchdog attempted to revive optimism over the nation’s corporate reform initiatives to investors in New York while soothing concerns over the short-selling ban.
Chinese banks left their benchmark lending rates unchanged following the central bank’s decision last week to hold a key rate on loans it offers to lenders.
Bain Capital plans to bolster its real estate team in Japan, the latest global investment firm seeking to capitalize on opportunities in the nation’s property market.
Standard Chartered Plc stuck it out in South Korea’s hotly contested consumer banking market while its global rivals threw in the towel one by one. It’s now paying the price.
Nov 15, 2023
The Canadian Press
Units in Slate Office REIT sank 20 per cent after the trust suspended its monthly cash distributions and announced a plan to sell a large part of its portfolio of properties.
Slate units were down 21 cents at 81 cents in trading on the Toronto Stock Exchange.
The trust said late Tuesday that its management and board has identified non-core assets for sale comprising about 40 per cent of its total gross leasable area.
Slate also said the move to suspend its distribution is expected to provide it with an additional $10.2 million of cash annually that will be used to repay debt and fund its ongoing operations.
The changes came as Slate reported a net loss of $34.7 million in its quarter ended Sept. 30 compared with a profit of $18.4 million in the same quarter last year, while rental revenue held steady at $51 million.
The trust's funds from operations amounted to $4.8 million or six cents per unit for the quarter, down from $10.3 million or 12 cents per unit a year earlier.
This report by The Canadian Press was first published Nov. 15, 2023.