Easing of China COVID Regime Supercharges Stocks and More Asia Real Estate Headlines – Mingtiandi

Mingtiandi
Asia real estate and outbound investment news
A password will be e-mailed to you.



by Leave a Comment
Hong Kong’s stock exchanges was on the upswing late last week (Getty Images)
In today’s roundup of regional news headlines, Chinese stocks get a much-needed boost from Beijing’s move to ease some COVID curbs, Fitch downgrades developer Central China Real Estate after a missed interest payment, and Hong Kong-based expats nab housing bargains.

Chinese stocks surged Friday after top officials in Beijing said they would try to minimise the economic impact from the country’s zero-COVID policy and promptly eased some of its quarantine restrictions.
Hong Kong’s benchmark Hang Seng index jumped 7.7 percent in its biggest single-day rally since March, taking its increase so far this month to around 18 percent. Stocks of internet platform companies, electronics parts manufacturers and Chinese developers were among the biggest gainers. Read more>>
Fitch Ratings has downgraded Central China Real Estate’s long-term foreign currency issuer default rating to C from B/Negative. The senior unsecured rating has been downgraded to C from B with the recovery rating remaining at RR4.
The downgrade follows Central China’s failure to pay interest on its $200 million 7.9 percent bond maturing in November 2023. The payment had been due on 7 November 2022. Read more>>
The rental markets of rival Asian financial hubs Hong Kong and Singapore have run into a pronounced reversal of fortunes.
Rents of prime accommodation in Singapore, typically favoured by expatriates, have surged to the highest in over a decade, closing the gap with notoriously costly Hong Kong. The city-state is set for further gains as the country reopens and foreigners flood the market, including Hong Kong residents who have left due to the city’s crackdown on COVID-19 and civil liberties. Read more>>
ESR India has inked a memorandum of understanding with the Karnataka state government to invest INR 2,500 crore ($300 million) in the state.
As a part of the deal, the company will build industrial and logistics parks, urban distribution centres and data centres. Read more>>

Longfor Group Holdings’ shares jumped in Hong Kong trading after the property developer successfully tapped a bond guarantee scheme by the Chinese government for funds.
Shares of the Beijing-based developer soared 29 percent to close the day at a three-week high of HK$18.20 ($2.32). Read more>>
China announced major changes to its strict COVID-19 measures for inbound travellers on Friday, reducing quarantine on arrival from seven days down to five, followed by three days of isolation at home.
The newly released measures include ending the practice of cancelling international flights if too many passengers from previous flights test positive on arrival, the State Council’s COVID-19 prevention team said. Read more>>
Brookfield Asset Management’s earnings declined as volatile markets weighed on valuations of private assets, but the firm says it’s still on track for its biggest year of fundraising ever.
Brookfield has launched fundraising for an opportunistic credit fund that it expects to be more than $16 billion, according to a letter to shareholders from CEO Bruce Flatt on Thursday. Its fifth flagship infrastructure fund stands at $21 billion and it has closed a real estate fund with $17 billion, Flatt said. Read more>>
Singapore-listed Boustead Projects on Thursday reported a 30 percent increase in net profit for its first half, mainly due to higher interest income and a greater share of profit of associates and joint ventures.
Net profit for the six months ended 30 September rose to S$7.7 million (now $5.6 million) from S$5.9 million in the year-ago period. On a per-share basis, earnings rose to S$0.024 from S$0.019 in the first half. Read more>>

Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
Share this now
Filed Under: crelist
Your email address will not be published. Required fields are marked *








More MTD TV Videos>>
More Industry Professionals>>
A top-level overhaul at Fosun Group’s tourism unit leads this week’s collection of personnel moves from around the … Read More>>
A Beijing developer’s founding chairman has resigned from all duties with the company according to an announcement … Read More>>
A set of Singapore moves dominates this week’s list of human resources updates from Asia’s real estate community, led by … Read More>>
Korea Investment Corporation (KIC) alternative investment head Jongho Kim has found a new chief for his real estate … Read More>>
More Industry Professionals>>
More Sponsored Features>>

© 2007-2022 China Advertising Media Ltd (Samoa). All rights reserved.

source

Leave a Comment