Dollar, euro gain in Asian trade after China PMI
The dollar and euro climbed against the yen in Asia on Thursday as positive Chinese manufacturing data boosted risk sentiment, while traders were also looking ahead to a crucial US…
US stock markets to reopen later Wednesday
Major US stock exchanges expect to reopen on Wednesday after Sandy, the worst storm to hit New York in nearly 75 years, closed trading for two days. NYSE Euronext said…
Hon Hai shares jump after strong Q3 profit
Shares of Taiwan’s Hon Hai Precision Industry jumped more than 1.5 per cent early on Wednesday after the main manufacturer of Apple’s products posted a sharp rise in quarterly net…
Fosun Pharma tumbles in debut; bodes ill for new deals
Shanghai Fosun Pharmaceutical (Group) Co Ltd fell sharply on its Hong Kong debut on Tuesday, underscoring concerns about weak investor appetite that could pressure new listings in the city in…
BYD tumbles after posting sharp decline in Q3
BYD, the Chinese automaker partly owned by billionaire Warren Buffet, slumped on Tuesday after it posted a sharp decline in net profit for the third quarter. The stock fell by…
New Hong Kong property tax, a sign of increasing protectionism
The new stamp duty policy announced last Friday for non-local home buyers in Hong Kong is more than a new property rule as it puts the government on the fast…
Henderson Land has too many square feet
Hong Kong property developer Henderson Land Development has a peculiar problem: too much land. The company is the biggest agricultural land owner in the New Territories and owns millions of…
Hong Kong exchange’s IPO ranking hit by slowing China and lack of investors
What a difference a year has made at the Hong Kong stock exchange. After three consecutive years of being the No1 destination for companies raising funds through initial public offerings,…
Lower rates, cash influx make shops hot property
Shops are expected to change hands briskly in coming months as an influx of hot money and lower borrowing costs for non-residential property spur investment interest, agents say. Figures from…
Yuan continues to test trading edge
The People’s Bank of China (PBOC) reined in the yuan’s appreciation yesterday as the currency hit a record high and bumped against the upper limit of its trading band for…
