WASHINGTON (Reuters) -U.S. single-family homebuilding surged in July amid an acute shortage of previously owned houses, but mortgage rates climbing back to near two-decade highs could stifle growth in new construction.

Embattled property developer China Evergrande Group on Wednesday resolved to delay its meetings for the Hong Kong CEG class A and class C holders of debt to provide them more time to consider its fresh restructuring plan.

Deflationary pressures in China could spill over into global markets, near-term good news for Western central banks as they seek to curb inflation, U.S. asset manager PIMCO said.

BEIJING/HONG KONG (Reuters) -Missed payments on investment products by a leading Chinese trust firm and a fall in home prices have added to worries that China's deepening property sector crisis is stifling what little momentum the economy has left.

U.S. single-family homebuilding surged in July amid an acute shortage of previously owned houses, but mortgage rates climbing back to near two-decade highs could stifle demand for new construction.

A look at the day ahead in U.S. and global markets from Mike Dolan