| ECONOMIC REPORT: Nov. Home Builders Index Steady At Record Low
WASHINGTON (Dow Jones) - U.S. home builders remain pessimistic in November and are beginning to blame the news media for their woes. The seasonally adjusted housing market index held steady at a record low of 19 in November from the previous month, the National Association of Home Builders reported Monday. It matches the lowest reading in the index since it was started in 1985. Brian Catalde, a builder from El Segundo, Calif, complained that negative housing stories are having an impact on buyers. "Builders are worried that the national media has tended to report negative housing stories as if there is one real estate market, when, in fact, there is no such thing -all housing markets are local," Catalde said in a statement. Special sales incentives are having limited success in terms of getting buyers in the door.
RPT-Emerging debt trading volumes fall in Q3 - EMTA
NEW YORK, Nov 19 - Emerging market trading volumes declined during the third quarter compared to the previous quarter as global financial turbulence turned investors more cautious, according to a report issued on Monday by EMTA, the industry trade association. .
Nikkei hits 16-month low on credit worries, yen
TOKYO (Reuters) - Japan's Nikkei average tumbled to a 16-month low on Tuesday and the TOPIX a two-year low, battered by a Wall Street slide on renewed credit worries and concerns about the strength of the U.S. economy, along with a firmer yen. Banks such as Mizuho Financial Group suffered after Goldman Sachs downgraded Citigroup Inc to "sell" from "neutral", saying the largest U.S. bank many have to write off $15 billion over the next two quarters as mortgage losses reduce earnings. The Nikkei fell to 14,751.27, its lowest since marking 14,560.67 on July 24, 2006. It ended morning trade down 1.9 percent or 285.89 points at 14,756.67. The broader TOPIX slid to 1,420.57, its lowest since hitting 1,409.62 on Oct. 28, 2005. It ended the morning at 1,422.93, down 2.3 percent.
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