Hong Kong banks were likely to be more selective in extending credit to developers amid a prolonged property slump that could pose a “major risk” to lenders, according to Moody’s Ratings. Banks’ property development and investment loans accounted for 16 per cent of their total lending as of June, the credit-rating agency said in a…
TOKYO –The Japanese yen rose against the U.S. dollar on Friday after the central bank lifted interest rates as expected at its two-day meeting and maintained a balanced tone on its future decisions, as U.S. trade partners await clarity on policy under a new president. The Bank of Japan “is trying to be relatively cautious and…
Emerging markets stocks are set for their worst monthly decline since January. The slump comes as investors price in higher odds of a Trump win in the upcoming US election. Trump has pledged to drastically raise import tariffs to as high as 20%, and up to 60% for China. Thanks for signing up! Access your…
Predictions carry doubt no matter who is making them — even if it’s Elon Musk or John Paulson, one expert says. David Tuckett, an uncertainty researcher, told BI that dismissing doubt eventually “leads over a cliff.” He said the success of elite investors like Warren Buffett may be largely down to luck, not skill. Thanks…