05252016Wed
Last update: Wed, 25 May 2016 12am

Asia

Markets - Fixed Income - Asia

SOHO China says to sell Shanghai office building this month HONG KONG: Commercial property developer SOHO China Ltd said on Tuesday it will put up for sale a Shanghai office building this month to tap surging demand for property in the city. SOHO China had shifted its business from sales to renting properties four years ago, but executives said the deal would help it take advantage of high valuations in Shanghai.Frenzied buying in the city just months after China's frothy stock markets crashed has raised fears about a replay of the real estate bust that has hit economic growth.SOHO China will put up for sale the 42,000 square meter-Soho Century Plaza in Shanghai at the end of March, Chairman Pan Shiyi told reporters, without giving a target price."We decided to sell some of the sophisticated projects, those non-core assets outside the (Shanghai) bund or Beijing's CBD (central business district)," said Pan. "It's better to earn some money while the market ...

Markets - Fixed Income - Asia

Hong Kong home sales hit record lows in first two months of year HONG KONG: Hong Kong home sales volume hit record lows in the first two months of the year, official data showed, adding to the gloom of weak earnings reports from the city's developers, and mixed pricing for two recent government land tenders. January and February sales volume were both the lowest on record, according to data, dating back to 1996, that was released by the Rating and Valuation Department and Land Registry on Friday.In value ...

Markets - Fixed Income - Asia

JGB yields near record lows after first negative 10-year auction TOKYO: Japanese government bond yields held near record lows on Tuesday after yields at an auction for 10-year bonds went under zero for the first time, a phenomenon that is likely to dent demand for risk assets. As a broadening swathe of the fixed income markets falls into negative territory, the strong demand at the bond auction signals the growing unease among investors at the unprecedented measures taken by global central banks such as pushing ...

Markets - Fixed Income - Asia

China new home prices up in February BEIJING: China's new home prices increased in February for the seventh straight month, a survey showed Tuesday, positive news for the key sector following a series of stimulus measures aimed at boosting lending.The gains come as authorities have sought to stabilise China's property market -- a main driver of the world's second-largest economy -- and rolled out new measures intended to encourage migrant workers to buy homes in the cities where they work.The average price ...

Markets - Fixed Income - Asia

Indian bonds, rupee gain; govt sticks to fiscal targets MUMBAI: Indian bonds and the rupee rallied on Monday after Finance Minister Arun Jaitley said the government would stick to its fiscal deficit target for 2016/17, raising expectations the country's central bank may cut interest rates before its next policy review in April. The benchmark 10-year bond yield ended down 16 bps at 7.62 percent, after falling as much as 18 bps intraday, the lowest since Jan. 22. The 10-year benchmark bond yield posted its ...

Markets - Fixed Income - Asia

India's bonds, rupee rise; fin min sticks to 2016/17 fiscal deficit target MUMBAI: Indian bonds and the rupee rallied on Monday after Finance Minister Arun Jaitley said the government would stick to its fiscal deficit target of 3.5 percent of gross domestic product for the 2016/17 year. Traders had feared India would widen its fiscal deficit target for the next fiscal year to increase spending.India's benchmark 10-year bond yield fell around 5-6 bps to 7.68 percent from levels before Jaitley disclosed the fiscal deficit target. The yield ...

Markets - Fixed Income - Asia

US bond prices jump as Wall Street rally fades NEW YORK: US Treasury prices jumped on Thursday, with benchmark yields retreating from 1-1/2 week highs, as a three-day rally in Wall Street stocks leveled off, reviving some demand for low-yielding government bonds.While data showed a surprise drop in domestic jobless claims last week, a report from the Philadelphia Federal Reserve showed business activities in the US Mid-Atlantic region in February remained in contraction territory although less so than in recent months. "We had a ...