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.
Latest Videos
The information you requested is not available at this time, please check back again soon.
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.
Jun 14, 2017
Reuters
OTTAWA - Canadian home prices rose in May as Toronto remained robust despite recent government efforts to cool the market, while prices in Vancouver picked back up to hit a fresh peak, data showed on Wednesday.
The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices rose 2.2 per cent last month.
Prices were higher in all 11 cities included in the index, led by a 3.6 per cent increase in Toronto and a 3.1 per cent rise in nearby Hamilton.
While other recent data suggested activity in the Toronto market cooled in May, Wednesday's report pointed to accelerating price growth in the resale market.
Compared with a year ago, prices were up 28.7 per cent in Toronto and 23.5 per cent in Hamilton, a record for both. For Toronto, Canada's largest city, it was the fourteenth consecutive month of acceleration in home prices on an annual basis, the report said.
Amid worries of overheating, the Ontario government announced measures at the end of April to try to rein in price gains in Toronto and the surrounding areas, including a foreign buyers tax.
Prices rose 1.5 per cent on the month in Vancouver, bringing the city's price index to a new peak. Still, the annual pace of gains slowed to 8.2 per cent.
The British Columbia provincial government imposed its own foreign buyers tax in Vancouver last summer, which helped cool the West Coast market, but there are signs the market is rebounding.
The Bank of Canada warned last week that rising consumer debt levels and an unbalanced housing market have raised household vulnerabilities.