(Bloomberg) — Distressed property sales in Hong Kong are beginning to bite banks that used to be well protected against loan losses. Most Read from Bloomberg The city’s commercial real estate sector is going through one of its worst slumps in history, with no end in sight. Average prices of office buildings, shopping malls and…
Jan 24, 2025 In a bid to secure the only residential land plot made available last quarter, six prominent Hong Kong developers have submitted their proposals, competing under the shadow of economic uncertainty and soaring interest rates. South China Morning Post reports the plot, situated in the New Territories, drew bids from major players including…
Shares in a unit of China’s No. 2 steelmaker rallied by their daily limit after President Xi Jinping toured one the firm’s plants and emphasized support for what he called “an important foundational industry.” State television showed Xi on a visit to a factory belonging to Bengang Steel Plates Co., a listed subsidiary of Ansteel…
Jan 23, 2025 Hong Kong’s property market faced significant challenges in 2024, with mortgage registrations plummeting to their lowest levels since records began in 2000. According to Centaline Property, only 47,917 mortgages were registered for a variety of assets including private flats, home-ownership scheme flats, parking spaces, and commercial facilities. This downturn in mortgage activity…
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The latest jobs report has spooked the financial markets. Analysts now believe the Federal Reserve is set to slow down its interest rate cuts amid signs of elevated inflation and a strong labor market. Income investing is expected…
A luxury house at Bisney Crest in Pok Fu Lam of Hong Kong sold for nearly HK$204 million ($26 million), according to a sales document from the government website. The house spans 5,767 square feet (536 square meters), with four bedrooms and a private lift, according to the project’s sales brochure. Source link
If You Invested $10,000 In NVIDIA Stock 10 Years Ago, How Much Would You Have Now? Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. NVIDIA Corporation (NASDAQ:NVDA) provides graphics, compute and networking solutions in the United States, Taiwan, China, Hong Kong and internationally. It is the…
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…
{KXLG – Watertown, SD} The Codington County Commissioners have approved a Facility Use Agreement and Pet Addendum with the American National Red Cross. The agreement will allow the Codington County Extension Complex to be used during emergencies. Emergency Management Director Andrew Delgado and Facility Manager Steve Molengraaf presented the agreement to the Commissioners. Delgado explained…
China’s finance and property companies saw their workforces shrink in recent years years for the first time, reflecting the damage caused by a housing market collapse and regulatory probes. The financial industry had 12.4 million employees at end-2023, down 32% from five years earlier, according to economic census data released Thursday. The number of people…