SYDNEY, June 28 (Reuters) – Outlandish property prices make
daily headlines in Sydney – a peeling 1900s three-bed with no
kitchen sink for A$2.6 million ($2 million), a parking space in
Kirribili for A$120,000 – and first-time buyers have little
prospect of relief.
Home price growth in the harbour city is well into the
double digits, fed by record low interest rates, a rapidly
rising population, chronic undersupply, a tax system that
pampers property investors and a stream of Asian money.
SYDNEY (Reuters) – Asia shares rallied for a sixth straight session on Wednesday as investors chose to be optimistic on the chances of a Greek debt deal, while the dollar held broad gains as the prospect of U.S. rate rises came back on the radar.
Japan’s Nikkei .N225 led the way as a gain of 0.4 percent cleared a peak from 2000 to reach ground last trod in 1997.
June 23 (Reuters) – A resurgence of activity in France
helped euro zone businesses expand at their fastest rate in four
years this month, the clearest sign yet that the European
Central Bank’s stimulus is driving a solid recovery in the
But loose monetary policy in China and Japan failed to
prevent factory activity there from contracting, Purchasing
Managers Index (PMI) surveys showed.
SYDNEY (Reuters) – China’s mammoth manufacturing sector showed some tentative signs of stabilizing in June, according to a non-official survey, without finding the momentum needed for a lasting recovery in the world’s second-largest economy.
Optimism appeared in short supply as firms surveyed by HSBC/Markit reported the sharpest reduction in hiring intentions for six years, regardless of Beijing’s efforts to kick-start activity through policy stimulus.
SYDNEY, June 23 (Reuters) – Australian house prices have
risen for the 10th straight quarter led by another outsized gain
in Sydney, adding to concerns about an overheating market and
diminishing affordability in the city.
Tuesday’s data from the Australian Bureau of Statistics
showed prices across all the major cities rose 1.6 percent in
the three months to March, lifting annual growth to 6.9 percent.
SYDNEY (Reuters) – Asia share markets turned mixed while the dollar flatlined on Wednesday as tension mounted before the Federal Reserve delivers views on the U.S. economy that could shed light on when U.S. interest rates are likely to rise.
Endless wrangling over the Greek debt crisis also kept trading cautious with Japan’s Nikkei losing early gains to dip 0.4 percent.
SYDNEY (Reuters) – Asia shares inched higher while the dollar held firm on Wednesday as investors awaited the Federal Reserve’s latest take on the U.S. economy and interest rates as almost a welcome diversion to the endless wrangling over Greece.
A rally on Wall Street helped Japan’s Nikkei .N225 gain 0.2 percent, while Australia’s market rose 0.4 percent.
SYDNEY (Reuters) – Asia share markets made guarded gains on Friday and the dollar held firm in the wake of reassuringly upbeat U.S. retail data, though the mood was cautious as Greek debt talks took yet another confusing turn.
Activity was sparse with MSCI’s index of Asia-Pacific shares outside Japan .MIAPJ0000PUS up 0.4 percent, but only just above three-month lows.
SYDNEY (Reuters) – Australian employment jumped past all expectations in May to drive the jobless rate to a one-year low of 6.0 percent, a brightening break in recent gloomy news that sent the local dollar over half a U.S. cent higher.
Thursday’s figures from the Australian Bureau of Statistics showed employment rose 42,000 in May, well ahead of forecasts for an 11,000 gain. The jobless rate dropped a tenth of a percentage point to breach the floor of a 6.1 percent to 6.3 percent range that has held for an entire year.
BRISBANE (Reuters) – Australia’s central bank said on Wednesday it was “open to the possibility” of more interest rate cuts if needed, while cautioning that ever easier policy had risks given households were already burdened with a large amount of debt.
In a speech to a business lunch, Reserve Bank of Australia (RBA) Governor Glenn Stevens called for policymakers to create “upside risks” to economic growth with a heavy focus on the need for more spending on infrastructure.