Issue: February 11, 2009   (Archive)
Sunday, October 4, 2015   

Global sell-off sweeps across Asia
China and Hong Kong stocks joined a global equity sell-off yesterday, overshadowed by the slump of Glencore (0805) which triggered rising fears of a sharp slowdown in the world economy.

Beijing tightens UnionPay cash
China's State Administration of Foreign Exchange has slapped an annual cap on overseas cash withdrawals for UnionPay cardholders at 100,000 yuan (HK$121,740) in an effort to deter money laundering.

Yuan at 7-week high
The yuan climbed to a seven-week high in Hong Kong's offshore market yesterday, erasing its discount to the rate in Shanghai, and an overnight rate to borrow the currency jumped by a record amid talk China's central bank was intervening to back the exchange rate.

Lap Kei roller coaster
Lap Kei Engineering (8369), listed on the Growth Enterprise Market through placement on Friday, had a roller coaster ride yesterday.

HK still in front for IPOs
Hong Kong is likely to remain the world's largest destination for initial public offerings this year if six to seven big candidates manage to raise a total HK$100 billion in the fourth quarter, global auditors Deloitte said yesterday.

A holiday break from despair
It was disappointing to see the Hang Seng Index and H shares index tumble yesterday after losses on Wall Street.

More lacking money
One in six people in Hong Kong who were born after 1980 use all of their pay before the end of every month, a survey by the University of Hong Kong in the second quarter of the year reveals.

Shimao wins Sham Shui Po site
Mainland-based developer Shimao Property Holdings (0813) has won a site in Tai Wo Ping in Sham Shui Po for HK$7.02 billion, marking the lower end of market estimates. This comes amid a judicial review mounted last month against any development on the site.

New iPhones set record
Apple Inc said yesterday it had sold more than 13 million iPhone 6s and 6s Pluses during their first weekend on the market, setting a record for its marquee product.

Jitters on China stability
Renewed concerns about the stability of China and other big emerging economies and related worries about commodity prices swept through global markets yesterday ahead of what should be telling economic data this week.

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