The default of a major Hong Kong property developer could send shock waves through the broader sector and scuttle a potential recovery in the residential market, according to S&P Global Ratings. “Hong Kong’s residential property recovery may be slipping out of view,” the credit-rating agency said in a report on Thursday. “S&P Global Ratings believes…
Hong Kong’s lived-in home prices fell in December to complete three straight years of setbacks, as geopolitical and inflation risks clouded the prospects for more interest-rate cuts by global central banks. Prices in the secondary market declined 0.65 per cent last month, following gains in October and November, according to data published by the Rating…
Hong Kong stocks trimmed the gains spurred by official data showing China’s fourth-quarter growth exceeded expectations, as investors weighed the sustainability of the recovery. A plunge in China Vanke, the nation’s biggest property developer by revenue, also tempered sentiment. The Hang Seng Index added 0.3 per cent to 19,584.06 at the close, paring a gain…
A bank trying to unload a luxury mansion in Hong Kong formerly owned by a Chinese property tycoon has slashed its price by about 60%, reflecting the tepid demand for high-end real estate. The house at 15 Gough Hill Road is on offer for about HK$700 million ($90 million) to HK$800 million, compared with a…
After launching the biggest boom in renewable power in history, China is now paying-up to make sure all that clean energy can get to homes and businesses. Spending on power transmission surged 19% to 529 billion yuan ($72 billion) in the first 11 months of last year, according to the National Energy Administration. Funding for…
China’s real estate woes look set to get worse before they get better, raising the prospect of a miserable year for property shares despite a recent bounce. Property developers in the country are still suffering from a yearslong slump that has sapped the confidence of potential buyers, caused a sharp decline in house prices and…
I’m Katia Dmitrieva, Asia economics correspondent in Hong Kong. Today we’re looking at how Chinese factories are preparing for a second trade war. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here. Manufacturers…
China’s 10-year sovereign yield slumped to a fresh record low Monday, as a string of sluggish economic data boosted demand for haven assets. The benchmark yield fell six basis points to 1.71%, extending a decline from above 2% at the end of November. The move came after figures revealed retail sales growth unexpectedly weakened and…
China’s home-price declines eased for a third month in November, suggesting values are beginning to stabilize as policymakers step up efforts to end the property slump. New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.2% from October, the smallest decrease in 17 months, National Bureau of Statistics figures showed Monday. Values of used homes…
China’s retail sales growth unexpectedly weakened in November, highlighting the urgency for Beijing to further encourage residents to spend. Retail sales rose 3% from a year ago, the National Bureau of Statistics said Monday. That was the slowest pace in three months and significantly undershot forecasts of 5% growth by economists surveyed by Bloomberg. Source…