Hong Kong
Hong Kong art sale raises almost four times more than expected
Sotheby’s Chinese fine-painting sale earned HK$738.3m, the highest for that category.
Hong Kong art sale raises almost four times more than expected
Sotheby’s Chinese fine-painting sale earned HK$738.3m, the highest for that category.
Hong Kong’s GDP may only be 3.3% in 2012, warns analyst
Continued deterioration in external demand is clouding UBS’ 12-month outlook for Hong Kong.
5% of Hong Kong workforce on the Mainland
Survey shows 175,100 Hong Kong residents worked on the Mainland before July 2010.
Private consumption up 9.2% in Q2 2011
Seems like a good sign for Hong Kong, as private consumption accounts for 61% of its GDP.
Residential property deals in its lowest since 2009
Monthly transactions totalled only 6,000-7,000 in July and August, almost 50% lower than the average monthly volume in 2009 and 2010.
September flat sales down 10.5%
The total consideration of the sales was $31.2bn, down 41.7% year on year.
Asian property investors are the most conservative globally—survey
Economic uncertainties and tightened credit line tame appetite for risk.
Customs and Excise Department accredits DHL for safety and security
The forwarder was able to meet all of the three general criteria and all the nine security and safety criteria.
Minmetals Land’s 9 months contracted sales up 117% to CNY3bn
The Company has locked in 74% of its CNY4.05bn full year contracted sales target.
RMB deposits grew 6.4% in August
While Hong Kong dollar deposits declined by 2%, according to a statement released by the Monetary Authority.
Airport charge scheme extended to January 1
Under the extended arrangement, the authority will continue to offer airlines a 75% rebate on landing charges for flights between Hong Kong and a new destination for the first six months after the route is launched.
Hong Kong’s inflation eases to 5.7% in August
UBS projects that the country’s inflation will intensify in the coming months, expecting full year 2011 inflation to more than double to 5.5% from last year’s 2.3%.
HSBC sells Canadian unit to Fulcrum Capital Partners
The transaction, which is subject to regulatory review and approval, is expected to close before 31 December 2011.
Toy exports to decline as much as 25%
The forecast is amidst drop in consumer confidence in the European Union and the United States.
Hong Kong banks suffer from liquidity and credit quality risks
The banks were somewhat reliant on strong loan growth but though loans for domestic use have grown, almost 25% of the total loan book is now for use outside of Hong Kong.
Hang Seng Index drops to its lowest in more than 2 years
It fell to 16,822.15 with only four stocks escaping declines.
China Everbright International’s 2 reusable water projects begin operation
The company achieves breakthrough in the supply of reusable water sector as projects reach daily water supply capacity of 47,000 m3 for industrial use.
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