Your Evening BriefingBloomberg News
It's the moment traders in the U.K. and around the world have been waiting for. This week Prime Minister Theresa May could pull the Brexit trigger and finally invoke Article 50, setting in motion the U.K.'s withdrawal from the European Union. But what effect will that have on the markets? No one really knows. Strategists are split, with the Bank of America saying risks to sterling remain, while Morgan Stanley thinks they've already been baked in. While there's no consensus on what will happen, one thing is certain. The long wait is almost over. —Alex Millson
Australia's house prices may be high but they're real. Soaring property costs in Sydney and Melbourne are not the product of excessive speculative borrowing by property investors, said Australian Treasurer Scott Morrison, even as the bank tightened its lending criteria. He blamed the high prices on a "mismatch between supply and demand."
Hong Kong and Singapore property markets are marching in different directions. While Singapore has recently eased some home-buying rules following three years of price declines, new curbs in Hong Kong are having little effect and prices have continued to soar beyond the reach of most people.
Zombie hordes dodge bankruptcy in Japan. Tens of thousands of fading small companies are subsisting using easy refinancing terms that have lingered since the financial crisis. But critics say propping up so-called "zombie" firms leads to downward pressure on prices.
Goldman Sachs is joining the rush on Chinese shares, becoming the latest major brokerage to upgrade the market thanks to mounting evidence of strength in Asia's largest economy. And it's not just the big banks that are bullish. Ren Xiangdong, whose fund has beaten 97 percent of peers over the past three years, says the time is right to snap up small-caps.
China needs to cut its high marriage age. Under current law, men can't get married until they're 22, women until they're 20. Relaxing the laws to allow couples to marry at 18 would go some way in encouraging more births as the nation grows old, according to one lawmaker.
HSBC has enlisted an outsider to oversee Europe's biggest bank. AIA's Mark Tucker will take up the role of chairman in October, also stepping down from his position on the board of Goldman Sachs. His first challenge will be to find the bank a new CEO.
If you're serious about the time you spend in your kitchen, you may have splashed out thousands of dollars for a top range stove. But did you pick the best? And did you need to spend quite so much? We've asked the experts how you can tell if your super-slick gas range was worth the money.
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