Chinese home prices dropped in May

Note: This section contains information in English only.
Source: Bloomberg
The prices of homes declined in 54 of 70 China's city in May, government report showed on Monday. Chinese developers have reduced the prices to stimulate sales, analysts suggest. Prices fell most in Wenzhou posting a 14% drop. Shanghai and Beijing reported a slump of 1.6%. China maintains housing market curbs despite slowing economy pushing PBOC cut the interest rate on June 7. 
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Mon, 18 Jun 2012 07:20:56 GMT

Aussie and Kiwi appreciate after Greek elections

The New Zealand and Australian Dollar strengthened against US Dollar and Yen on Monday as worries over Greek exit from the Eurozone eased as pro-austerity parties are likely to form a new coalition. Aussie advanced 0.6% versus greenback to USD 1.0117 while Kiwi climbed to USD 0.7924. Currently AUD/USD is trading at USD 1.0102 and NZD/USD is trading at USD

Mon, 18 Jun 2012 06:59:54 GMT

Euro rallies on Greek election results

The 17-nation currency appreciated sharply reaching almost a monthly record high after preliminary election results showed parties supporting austerity got enough votes to lead Greek parliament. Euro climbed 0.5% versus US Dollar to USD 1.2705 in Asian trade, the highest value since May 22. Currently EUR/USD is trading at 1.2712. 

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