Friday, August 31, 2012
Thursday, August 30, 2012
Wednesday, August 29, 2012
Consumer stocks including may see profit taking
Hong Kong-based consumer stocks including Sasa (0178.HK) and Chow Sang Sang (0116.HK) may see profit taking on Wednesday after the city said it would control the number of mainland visitors.
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Tuesday, August 28, 2012
Samsonite posts record first-half sales
US luggage maker Samsonite on Tuesday posted record first-half sales, boosted by strong global travel demand as well as growth in Asia and North America.
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Apple seeks US bans on Samsung phones
Apple is seeking speedy bans on the sale of eight Samsung Electronics phones, moving swiftly to translate its resounding court victory over its arch-foe into a business benefit.
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Monday, August 27, 2012
Business Digest
Haitong Securities, the mainland's No5 brokerage by market share, says net profit shrank 9.36 per cent to 2.02 billion yuan (HK$2.47 billion) in the first six months of this year on the back of a sluggish market.
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Weak sentiment turns off new market players
The current weak market sentiment is driving more than investors away from the market. It is also discouraging new entrants to the industry, at least for now. "The current market situation definitely has an impact on the number of people looking to sit the licensing examination," a requirement to work in the financial industry, said Anthony Muh Yi-tong, the chairman of the Hong Kong Securities Institute.
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P.E. capital gains tax on Beijing's agenda
Wealthy mainlanders keen to take part in private equity and venture capital deals are being forced to revise their investment strategies amid expectations that Beijing will impose a new capital gains tax that could eat into their profits from such deals.
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Insurers hope talks yield US tax exemptions
Hong Kong and Asian fund houses and insurers are banking on inter-governmental talks to secure exemptions from reporting requirements under a controversial new tax law due to be introduced by the United States.
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Eslite has big cross-strait ambitions
The chain that created a bookshop culture in Taiwan is studying plans for more shops in Hong Kong and as many as four on the mainland. Its management expects its unusual mix of merchandise to be a hit with customers from across the strait as well.
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Cashed-up Yuexiu eyes Guangzhou waterfront site
Yuexiu Property, the property arm of the Guangzhou municipal government, plans to buy a 7 billion yuan (HK$8.54 billion) residential site in the city this year to replenish its land bank.
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Chemical plant to flick switch to coal
China BlueChemical, the fertiliser manufacturing unit of state-owned oil and gas major China National Offshore Oil, plans to make a complete switch from natural gas to coal to power its urea plant in Inner Mongolia by 2015, to ensure the plant stays viable amid rising gas costs.
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Rule changes cut CCB's fee income
China Construction Bank, the second-largest mainland lender by assets, reported its smallest half-yearly profit growth since 2009 as mainland regulatory changes eroded its fee income.
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Briefs
Citic Resources Holdings, the energy and metals arm of state-backed conglomerate Citic Group, reported that first-half profit fell 42 per cent, after last year's income for the same period was boosted by the sale of a stake in MacArthur Coal.
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'Secret' listed business
China High Precision Automation Group, whose shares were suspended from trading over disclosure issues allegedly related to "state secrets", had humble beginnings as a maker of watch components.
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Staying in fashion is a tough sell
International fashion labels have turned China into their main battlefield this summer, opening one new store a week as they bid for the spending power of wealthy consumers in the world's No 2 economy.
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Sinopec blames 41.6pc fall in profit on weak demand
China Petroleum & Chemical Corp (Sinopec) posted a 41.6 per cent drop in net profit for the first half on weaker demand for refinery products in its home market.
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NVC Lighting disputes 'may hurt' earnings
NVC Lighting's disputes with its former chairman Wu Changjiang may have a limited impact on the Hong Kong-listed firm's first-half results, but could prove costly in the second half.
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IRC faces tough market in search for expansion funds
IRC, an iron ore miner in Russia's far east that serves the northeast China market, is braving tough capital market conditions to complete a new round of financing by the end of the year to fund its expansion projects.
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Friday, August 24, 2012
Beijing looks to step up property curbs
Beijing is studying new measures to beef up controls on the property sector, state media said on Friday, amid signs of rebounding housing prices in July.
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Peak apartment fetches record HK$470m
A luxury apartment on The Peak has sold for a record HK$470 million, making it the priciest residential flat in Hong Kong and possibly in Asia, reports said on Friday.
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Singapore shifts up to cleaner fuels
Singapore will move towards cleaner fuel and reduce sulphur emissions from cars by 2014 in a bid to keep up with global changes, the Environment Agency said on Friday.
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China shares down 0.7pc, banks hit
The Shanghai Composite Index shed 0.7 per cent on Friday, as the CSI300 Index of the top Shanghai and Shenzhen listings slid 0.8 per cent to 2,283.3, barely off a 7½ month low.
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China to expand rare earths reserves
China plans to add 18,000 tonnes of rare earths to its strategic reserves following an agreement with a domestic producer, a state-linked newspaper said on Friday.
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Wall St falls as Fed doubts knock equities
US stocks fell on Thursday as expectations for quick stimulus action from the Federal Reserve faded and Chinese and euro zone data pointed to a stalling global economy.
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Apple ban in S Korea after patent verdict
A South Korean court ruled on Friday that Apple and Samsung Electronics both infringed on each other's patents, and ordered a partial ban of their products in South Korea.
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