Hong Kong stocks rose 2.9 percent on Friday, as U.S. stock futures pointed to a recovery on Wall Street and talk swirled of another round of rate cuts in China, sending mainland lenders soaring.
But the main index finished the week 6.5 percent lower, its worst weekly performance in three weeks, on bleak economic data, job [...]
Concerns over the worsening economic outlook and expectations of an increase in the jobless rate sent property stocks lower, dragging Hong Kong’s benchmark index lower Wednesday.
The Hang Seng Index fell 100.1 points, or 0.8 percent, to 12, 815.80 after trading between 12,738.53 and 13,179.33 during the session.
Tags: economic, HK, Share
Hong Kong shares fell 2.9 percent on Tuesday, unsettled by worries over a protracted global recession, while China Construction Bank slid after Bank of America BNC.N said it was boosting its stake in the Chinese lender at a discount to its current trading price.
Chinese auto makers dodged the downdraft in the broad market to notch [...]
China Unicom (Hong Kong) Ltd., the country’s second-biggest mobile-phone carrier, “hopes” to gain a license for faster wireless services by year-end, Chairman Chang Xiaobing said.
The government will accelerate the process of awarding the licenses as spending on the construction of third-generation mobile-phone networks will boost the economy, Chang said at the Mobile Asia Congress conference [...]
China Unicom (Hong Kong) Ltd., the country’s second-biggest mobile-phone company, said its two largest shareholders plan to combine by January, as part of a government-led reorganization of the telecommunications industry.
The proposed merger between China United Telecommunications Corp. and China Network Communications Group Corp. is pending approval from regulatory authorities, Unicom said in a statement to [...]
HONG Kong’s economy entered its first recession since the outbreak of SARS in 2003 as the global financial crisis cut exports and spending cooled, forcing the government to lower its full-year growth forecast.
Gross domestic product shrank a seasonally adjusted 0.5 percent in the third quarter from the previous three months, the government said yesterday. The [...]
