HK real estate looking shaky
Goldin Financial Holdings experiences creditors seizing assets. This huge chunk of real estate is on sale at a 34% discount to book value (as of nine months ago). Can this be the top of HK real estate? The coup by China, the deteriorating state of world trade, the murky corporate governance of anything to do with Chinese business must all be weighing down on the viability of HK as an international financial centre.
Wrap
Most equity markets up. Bitcoin down (!). Currencies fairly flat. The Tokyo Stock Exchange had more network problems which stopped trading. PMs up, but energy down. Sugar showing some life: up 4%. Commodities are having a weird year: YTD crude is down 40% but the Baltic Dry Index (BDI) is up 72% Ag. commods are basically fairly flat on the year.
Lyn Alden has her Sept newsletter out. It has some nice analysis of household wealth and what it means for markets.
Comments !