Hong Kong’s Economic Growth Beats Forecast in First Quarter
Hong Kong’s economy grew faster than expected in the first quarter, a tentative sign that the city’s post-pandemic recovery is stabilizing.
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Hong Kong’s economy grew faster than expected in the first quarter, a tentative sign that the city’s post-pandemic recovery is stabilizing.
Hong Kong’s world-beating stock rally is showing no signs of letting up, with the city’s currency peg to the greenback burnishing its haven appeal amid the threat of higher-for-longer US interest rates.
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Chicago-based law firm Mayer Brown LLP is preparing to split off its Hong Kong operation amid US and China geopolitical tensions, according to people familiar with the matter.
The Czech Republic is poised to cut interest rates by another half of a percentage point, but a nascent economic recovery and sticky inflation may slow monetary easing in the following months.
Jun 5, 2023
The Canadian Press
The Quebec Professional Association of Real Estate Brokers says Montreal home sales were down in May from last year but showed signs of picking up from recent lows.
The association says the 4,428 homes sold in the month amounted to an eight per cent drop compared with May 2022.
The activity was an improvement from April sales, which were down 26 per cent from a year earlier.
Improved sales came even as new listings were down 11 per cent to 6,196, though the total number of active listings were up 46 per cent to 16,089.
The median price of a single family home was down four per cent at $550,000 compared with last year, while condo prices slipped two per cent to $403,000.
The association's market analysis director Charles Brant says the month showed buyers were returning to the market, encouraged by the stabilization of interest rates and prices.
This report by The Canadian Press was first published June 5, 2023.