Asia Stocks to Track US Rebound on Profit Optimism: Markets Wrap
European stocks rose for a second day after strong earnings from some of the region’s biggest companies, while positive economic data helped boost sentiment.
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European stocks rose for a second day after strong earnings from some of the region’s biggest companies, while positive economic data helped boost sentiment.
Taylor Wimpey Plc is failing to see lower mortgage rates translate into higher levels of home sales and is maintaining its forecast for fewer deals in 2024.
Chinese mainland investors increased their portion of total turnover of Hong Kong stocks to a record daily average in April, with the latest measures to bolster the city’s position potentially boosting their purchases.
Zhao Xiaowei did what would have been unthinkable just a few years ago: He quit his Beijing barista job and returned to his northeastern rust-belt hometown for a better future.
South Korea is emerging as a closely watched weak link in the $63 trillion world of shadow banking.
Dec 15, 2016
Reuters
The risk of a sharp correction in Canada's housing market and financial stress on households has increased modestly in the last six months because of the weaker economy but new mortgage rules will cool the market, the Bank of Canada said on Thursday.
In its semi-annual Financial System Review, the central bank said that while the probability of a sharp price correction and nationwide financial stress on households is low, its impact would be severe, given rising debt loads and house prices.
"The most important risk remains household financial stress and a sharp correction in house prices, triggered by a large and persistent nationwide rise in unemployment. The likelihood of this risk materializing, however, remains low," the bank said.
The bank also noted the rapid backup in global bond yields, which have led to a rise in mortgage rates, and reiterated the potential for fragility in fixed-income market liquidity as a vulnerability. Still, it said the recent rise in yields has been orderly and reflects changing expectations for growth in the United States.
The overall level of risk to Canada's financial system was largely unchanged from six months previously, the bank said, with recent moves by the government to rein in risky lending helping to ease household vulnerabilities going forward.
"This buildup of vulnerabilities will be mitigated over time by new federal housing finance rules and other housing sector policies, which will dampen activity in the sector and improve the quality of new mortgages," the bank said in a statement.