hong kong Tag

How long can it last? That’s what watchers of Hong Kong’s markets are asking as the gap between local and U.S. interbank rates widens to the most since 2009. The city’s currency peg to the greenback effectively ties its monetary policy to that of the U.S., making the growing differential all the more curious. Now things may be changing, with forward points and interest-rate swaps in Hong Kong’s dollar starting to bottom out. The reasoning is simple: with the currency having fallen to the middle of its permitted band andRead More
Three stock markets have never returned to the peaks they achieved in the years before the Asian financial crisis triggered a region-wide sell-off two decades ago. Japan’s Topix Index reached a record high in dollar terms in December 1989. On Tuesday, it was trading 29 percent lower. Thailand’s SET and Taiwan’s TWSE make up the trio of gauges that have failed to regain past glories since the 1997 crisis. One market that has performed well is South Korea. The Kospi Index soared above its pre-crisis peak in 2006 and reachedRead More
Sometime later this year, Hong Kongers may be able to pay for the privilege of living in apartments so small they’re comparable to prison cells. Then, a local developer is due to start signing tenants for a project in the Happy Valley district where most flats could have a “usable floor area” of about 61 square feet, or 5.7 square meters, according to a pre-construction filing with the Buildings Department. That’s slightly less space than Stanley Prison, a 30-minute drive across the Hong Kong island, affords its inmates. Cramped living spaces inRead More
HONG KONG (June 14): Hong Kong just set another property-price record. This time, it was for a parking space. A 188-square-foot space on Hong Kong island sold for HK$5.18 million (US$664,300), or HK$27,500 a square foot, last month, newspaper Ming Pao reported Wednesday, citing land registration records. The car park cost more than some Hong Kong homes: Centaline Property data shows a HK$4.2 million sale of a 284-square-foot, two-bedroom home in Sha Tin, in the New Territories, in April. Property prices keep soaring higher in Hong Kong despite the government’s efforts toRead More
Mrs. Lau can’t help but glance nervously at the calendar. Her next paycheck isn’t for a week, and she doesn’t have enough money to feed her family of four crammed into her small, government-subsidized Hong Kong apartment. Her husband can’t work, and the kids don’t understand why their mother keeps buying stale food. “We’ll eat rice soup for all three meals,” said the 42-year-old, a cashier at the Wellcome supermarket chain controlled by the Jardine Matheson group. Lau, who asked that only her surname be used, has been the sole provider for herRead More
As the Union Jack fluttered over Hong Kong’s Victoria Harbour for the last time on June 30, 1997, home prices were hovering near record highs and sellout crowds at new projects were the norm. Twenty years on, property price have hit fresh records and buyers are still thronging to buy new apartments. This time around, the boom has been accompanied by demand from another source: mainland developers. Chinese companies have dominated Hong Kong’s land sales this year, adding to a spate of acquisitions since the beginning of 2016. HNA Group, the firmRead More
Hong Kongers’ matrimonial woes matter for property prices The usual suspects for Hong Kong’s sky-high property prices are low interest rates, a housing shortage and demand from mainland China. But there’s another unforeseen factor: divorce. Demand for separations and remarriages have accelerated sharply over the past two decades as the former British colony has deepened its integration with the mainland. That’s according to Richard Wong, an academic at the University of Hong Kong and a veteran analyst of the local housing sector. The numbers tell the story: Between 1976 andRead More
What a difference 16 months makes. It was in February of 2016 when, looking at the latest trends in the Hong Kong housing market, we wrote that in January [2016] Hong Kong home prices tumbled the most since July 2013, and after a 12 year upcycle, prices were now down 10% from the recent peak just four months prior… … while the local Centaline Property Agency estimated that total Hong Kong property transactions at the start of 2016 were on track to register the worst month on record. Fast forward to today when thatRead More
For a pegged currency, Hong Kong’s dollar is once again posting some outsized moves. The city’s dollar — linked to the greenback since 1983 — is falling at the fastest pace in 14 months as a widening interest-rate gap with the U.S. reduces the lure of the city’s assets. Local banks, awash with capital and competing for red-hot mortgage demand, are in no rush to follow the Federal Reserve and charge more for loans. That means further weakness ahead for the local currency, according to Mizuho Bank Ltd. and Standard Chartered Plc. “WeRead More

Posted On April 14, 2017By HoudiniIn News

KLCI slips following weak cues from Wall Street

KUALA LUMPUR (April 13): The benchmark FBM KLCI index slipped 0.34% today, following weak cues from Wall Street after U.S. President Donald Trump’s comment on the U.S. currency being too strong, which kept the U.S. markets nervous. At the closing bell, the KLCI closed 5.90 points lower to 1,738.18, with 3.9 billion shares worth RM2.6 billion traded. Market breadth was negative with only 220 gainers compared with 765 decliners, while 305 counters were unchanged. Malayan United Industries Bhd continued to be the most actively-traded counter. Eita Resources Bhd was theRead More