Issue: February 11, 2009   (Archive)
Friday, May 29, 2015   

Price fears fail to hit flats race
People from all walks of life poured into the housing market yesterday to pick a home of their own despite the prospect of more supply dampening prices.

Mainland picks tipped for further correction
The yen has fallen to 124 against the US dollar, sinking to a 13-year low. In contrast, the Nikkei 225 index gained 0.3 percent yesterday while US stocks rebounded on good corporate earnings. But their gains failed to help the Chinese and Hong Kong markets.

Share placements
Evergrande Real Estate Group (3333), China's fourth-largest property developer by sales, was seeking to raise up to HK$4.75 billion in a Hong Kong share offering yesterday, the latest developer to refinance following a recent share rally.

Gloom at Dickson after rough year
Luxury retailer Dickson Concepts (International) (0113) expressed pessimism on local retail sales after incurring a net loss of HK$110.30 million in the year to March 31 versus a net profit of HK$154.8 million in the previous fiscal year.

China Mobile plays down impact of free WiFi servic-e
The wider use of WiFi is threatening the business of China Mobile (0941), but free services cannot last long, chairman Xi Guohua said yesterday.

Privatization move eyed
Far East Consortium (0035) is looking to take Dorsett Hospitality International (2266) private for HK$400 million less than five years after spinning off the hotel operator, the firms said.

Fosun to focus on insurance
Chinese conglomerate Fosun International (0656) said it will focus on developing its insurance business and seek overseas acquisitions in the future.

Kaisa takeover off
Mainland developer Sunac China (1918) yesterday scrapped a takeover offer for troubled smaller rival Kaisa Group (1638), renewing investor fears over Kaisa's ability to repay its debt.

CMB toasts wealth inroads
China Merchants Bank (3968) said its private banking business is continuing to grow as it keeps an eye out for overseas acquisitions.

JV eyes overseas hotels
First Eastern Investment Group is partnering with mainland-based Gloria Hotels & Resorts to invest and inject "Chinese characteristics" in hotels outside the mainland.

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