British universal bank with East Asia links
The UK mortgage market has seen a significant decline in available deals and rising rates due to geopolitical tensions and increased swap rates. Over 200 deals have disappeared since March 6, with rates now exceeding 5.5%, impacting first-time buyers and homeowners. Experts warn rates will likely stay high as global instability persists.
China's official PMI has held at the expansion threshold near 50, with new orders and production softening slightly. Analysts cite robust energy security and ongoing export strength, though domestic demand remains sluggish amid a housing slump. Exports to Europe and Southeast Asia help offset U.S. demand weakness. Morgan Stanley sees 2026 growth near the 4.5–5% target.
GSK has struck a multi-billion deal to acquire Nuvalent, adding three late-stage cancer drugs to its portfolio, including two lung-cancer therapies under FDA review. The acquisition aims to boost sales growth, expand the lung-cancer platform, and position GSK for a potential rise in annual revenue by 2031.
The Bank of Japan has raised its policy rate to 1% from 0.75%, the first hike since December 2025, amid inflation concerns linked to the Iran war and a weak yen. Markets watch for future steps on tightening and bond purchases as Japan seeks to stabilize prices and growth.