Issue: March 22, 2006   (Archive)
Monday, August 3, 2015   

HSBC forecast to report hefty pretax profit rise
HSBC Holdings (0005) is set to announce the US$4 billion (HK$31.2 billion) sale of its Brazilian subsidiary today along with its interim results, as analysts expect the banking giant's pretax profit to rise more than 6.6 percent.

Timetable to lift controls
Greece aims to lift all forms of capital controls as early as October and no later than the end of this year, finance minister Yannis Dragasakis told a Greek newspaper.

People's problems need attention first
The Shanghai Composite fell sharply but was still above its level of July 8. While Beijing's intervention has helped, there is no denying A shares are still not stable.

US dollar strength does have its limits
Disappointing earnings from ExxonMobil and Chevron as well as a surprisingly small increase in second-quarter wage costs saw US stocks dip on Friday.

China to revamp medical insurance cover
China will expand medical insurance to cover all critical illnesses for all urban and rural residents by the year-end, the latest in a plan to fix a health-care system that has sparked public discontent.

Citadel unit in short-sell probe
A domestic unit of hedge fund giant Citadel is under investigation by mainland regulators for allegedly maliciously short selling A shares, mainland media reported yesterday.

ASM reports shrinking revenue
ASM Pacific (0522), the world's largest assembly and packaging equipment supplier for the semiconductor and LED industries, said first-half revenue fell from a record high in the second half of last year to US$879 million (HK$6.85 billion), as new orders shrank and outlook turned dim.

Noble Group falls further
Hong Kong-based Noble Group said it is not aware of any information that could explain the 14 percent tumble in its shares yesterday.

Mix bonds with shares portfolio
Hong Kong shares fell 0.5 percent to 24,497 yesterday as the Shanghai market dipped 2.2 percent.

Outlook bright but Fed offers no clear signs on hike
Federal Reserve officials said they felt the US economy had overcome a first-quarter slowdown and was "expanding moderately" despite a downturn in the energy sector and headwinds from overseas.

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