Blink and you missed it. Instead of falling, Hong Kong home prices are back on the rise, stoked by dovish Fed

Property watchers across Hong Kong are scrambling to keep pace with what appears to be a resurgent property market, as anecdotal evidence emerges that some sellers are raising prices after the US Federal Reserve signalled a dovish monetary policy stance for the foreseeable future earlier this week.The sentiment shift follows the pivot by the Fed on Wednesday amid what it sees as slower US economic growth. In addition, Chief Executive Carrie Lam Cheng Yuet-ngor expressed concern that the firming… Source link

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CLP Holdings shares post biggest intraday drop in nearly three months after 2018 net profit missed analysts’ estimates

Shares of CLP Holdings had their biggest intraday percentage drop in nearly three months after the bigger operator of Hong Kong’s two electricity suppliers posted a 2018 net profit that missed analysts’ expectations.CLP shares fell almost 2 per cent to an intraday low of HK$94.95 in Hong Kong, and were recently traded at HK$95.25.The utility, founded in 19091, said its 2018 net profit fell 4.9 per cent to HK$13.55 billion (US$1.73 billion), due to a substantial asset impairment in India arising… Source link

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China’s wealth gap widens as more than half of its provinces missed growth targets

China’s economic development gap is widening with tougher times looming after more than half of its provinces missed their economic growth targets last year and the effects of the trade war with the US taking a toll on the domestic economy. Seventeen of 31 Chinese provincial-level divisions failed to meet their gross domestic product growth rate goals in a year where the national economy expanded at 6.6 per cent, its slowest pace in 28 years, according to a review of local annual economic reports by the South China Morning Post.…

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