Issue: February 11, 2009   (Archive)
Friday, August 1, 2014   




iBond subscription slumps
The government's fourth batch of iBonds drew HK$29.1 billion worth of subscription by yesterday's deadline, down 27 percent from the iBond 3 (4218) issued last year, preliminary data showed.

Li firms' profits beat forecasts
Li Ka-shing-controlled Hutchison Whampoa (0013) and Cheung Kong Holdings (0001) saw interim net profit jump 1.29 times and 59 percent respectively, beating forecasts.

Yuan blamed as papermaker suffers earnings cut
Interim net profit at Lee & Man Paper Manufacturing (2314) fell 6 percent on-year to HK$913 million, with the falling yuan mainly to blame.

Shipper sinks into red
Dry bulk shipping operator Pacific Basin Holdings (2343) sank into the red in the first half, losing US$90.7 million (HK$707.46 million).

Hang Lung Properties net rises as sales slip
Hang Lung Properties (0101) yesterday said net profit in the first half rose 14 percent from a year earlier to HK$3.22 billion.

Russian firm switches to HK dollars
OAO MegaFon, Russian billionaire Alisher Usmanov's wireless operator, has been shifting its cash holdings into Hong Kong dollars as the US and Europe ratchet up sanctions against the country.

Slide in equities seen
Equity markets will see a decline at some point after surging for the past several years, former US Federal Reserve chairman Alan Greenspan said.

CFOs take dim view
Chief financial officers in the SAR have the lowest expectation for economic expansion among colleagues from other global markets. But most plan to increase investment, the latest Global Business and Spending Monitor showed.

Liquidity inflow keeps boosting stocks
Without much really exciting news, Hong Kong and China stock markets kept rallying yesterday with small gains.

HKMA steps up defence of strong local currency
The Hong Kong Monetary Authority injected another HK$2.33 billion to the market yesterday as the local currency strengthened with capital inflow due to the US Federal Reserve continuing tapering and affecting fund flow to the market.



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