Jail for securities officer who stole client shares
A securities firm employee who manipulated the company’s computer system to take shares from clients’ accounts and sell them was jailed yesterday for six years and four months. Siu Leung-to,…
Promise of hot money heats up Hong Kong shares
Hong Kong stocks hit a 16-month high yesterday on speculation more hot money would flow into the equity market after the United States announced further quantitative easing. In the latest…
Second-hand property prices in Hong Kong rebound modestly
Prices of second-hand homes in Hong Kong rebounded modestly last week, ending a three-week decline, but analysts warned the market outlook remained uncertain. The Centa-City Leading Index, which tracks prices…
Shanghai rises on hopes for new funds
The mainland’s securities regulator has decided to simplify fund approval procedures to direct a massive capital inflow into the weak stock market, heightening investors’ hopes for a strong government-orchestrated rally.…
Asian markets mixed, eyes on US fiscal cliff talks
Asian markets were mixed Friday as traders grew concerned that talks on averting the US fiscal cliff remain deadlocked, while a Japanese survey showed confidence among businesses has slumped. Currency…
Nasdaq cancels pre-market trades in 9 big-cap stocks
Stock exchange operator Nasdaq OMX is cancelling a series of premarket trades that resulted in wild price swings in a number of stocks on Thursday, including Citigroup and Hewlett-Packard, the…
CBOE’s longtime head Brodsky to step down in May
William Brodsky, who transformed CBOE Holdings from a member-owned exchange into a for-profit company best known as the home of Wall Street’s favourite fear index, has unexpectedly announced he will…
‘Tiger Cub’ manager pleads guilty in insider trading case
In the latest chapter of a US crackdown on insider trading, Tiger Asia Management, an Asia-focused hedge fund run by Sung Kook “Bill” Hwang, pleaded guilty on Wednesday to wire…
Asian shares rise, Fed outcome pressures dollar
Asian shares rose on Wednesday buoyed by strength in global equities markets, firmer economic sentiment in Germany and hopes of a deal from US budget talks, while the dollar came…
Accounting showdown
Without much public fanfare or even awareness except in the gloomy world of bean-counting accountants, China and the United States have embarked on yet another business collision course. Patrick Chovanec,…
