Hong Kong Daily News 2011.06.29

Why Markets Butchered China Pork Producer
Wall Street Journal
The Hong Kong-listed Chinese pork producer dived 24% in the first two days of the week on fears that short sellers Muddy Waters was about to publish a report exposing fraud.  So far that report has not appeared and Muddy Waters declined to confirm the …
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Most Hong Kong Stocks Rise Ahead of Greek Vote; Li & Fung Drops
San Francisco Chronicle
AP NewsBreak: Bulger lawyer blasts prosecutors 06.29.11 June 29 (Bloomberg) — Most Hong Kong stocks rose ahead of a vote by Greek lawmakers that may allow budget cuts needed to secure financial aid, countering concern China will take further action to …
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Asia Pacific stock sales firm, outlook clouded by stock slump
Reuters
By Elzio Barreto HONG KONG, June 30 (Reuters) – Stock offerings in Asia Pacific edged higher in the first half of the year, but lingering concerns about sovereign debt troubles in Europe, slower US growth and higher interest rates in China are clouding …
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China shares fall; bank stocks weigh on Hong Kong
Reuters
By Vikram Subhedar and Clement Tan HONG KONG, June 29 (Reuters) – Chinese shares fell on Wednesday, snapping a six-day winning streak and erasing gains in Hong Kong, with investors selling Chinese bank stocks after rumours about an interest rate hike …
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Old osteoporosis drug may help in killing flu viruses
Reuters
By Tan Ee Lyn HONG KONG (Reuters) – A old osteoporosis drug may be effective in killing a range of influenza viruses, including ones that are very dangerous to people like the H5N1 bird flu virus, scientists in Hong Kong reported on Wednesday. …
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Incap opens an office in Hong Kong
Reuters (press release)
Incap is enhancing and improving its materials management further by establishing an office for sourcing and procurement in Hong Kong. The local company, Incap Hong Kong Limited, will start operating in the beginning of August, when the Group’s …
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Highway Holdings Reports Fiscal 2011 Fourth Quarter/ Year-End Results
MarketWatch (press release)
HONG KONG, Jun 29, 2011 (GlobeNewswire via COMTEX) — Highway Holdings Limited /quotes/zigman/62374/quotes/nls/hiho HIHO +25.50% today reported strong results for the fourth quarter and fiscal year ended March 31, 2011, with annual sales almost …
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Katich’s axing stumps opening mate Watson
Sydney Morning Herald
HONG KONG: Australian vice-captain Shane Watson has expressed shock over Cricket Australia’s decision to dump batting partner Simon Katich from its list of 25 contracted players. Watson described 35-year-old Katich as a ”mate” and said the …
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Northumbrian Water deal waits for Hong Kong’s Mr Rich
nebusiness.co.uk
by Jez Davison, Evening Gazette NORTHUMBRIAN Water has refused to rule out a takeover bid by one of Hong Kong’s richest men. The utilities firm run by CEO Heidi Mottram, which has a £33m waste-to-energy treatment facility at Bran Sands, …
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Market Volatility Stymies Prospective IPOs
Wall Street Journal
By YVONNE LEE And DAVID ROGERS HONG KONG—Around US$1 billion in initial public offerings fell victim to weak markets Wednesday, with China Hanking Holdings Ltd., which had secured a cornerstone investor, and Barminco Ltd., Australia’s biggest new …
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UPDATE 1-BYD says Q1 profit falls 84.4 pct on year
Reuters
HONG KONG, June 29 (Reuters) – BYD Company Ltd , the Chinese automaker backed by US billionaire Warren Buffett, said its net profit for the first quarter of 2011 fell 84.4 percent year-on-year in accordance with Chinese accounting standards. …
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Crops out of concrete: Farming Hong Kong’s urban island
CNN International
By Benjamin Gottlieb, for CNN Hong Kong (CNN) — On the roof of a 21-story office building in Hong Kong’s eastern district sits a grassy patch of hope that agriculture can thrive even in one of the world’s most congested spaces. …
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Navigating Hong Kong’s Coasts
Wall Street Journal (blog)
Mr. Tait, an English teacher at Hong Kong University’s School of Professional and Continuing Education (better known as HKU SPACE), doesn’t just stroll along the beach—he goes coasteering. First popularized in Wales about 20 years ago, …
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Hong Kong leader claims public supports abolition of by-elections
Monsters and Critics.com
Hong Kong – Hong Kong leader Donald Tsang on Wednesday claimed the government had public support for a proposal to scrap by-elections in the city. The Beijing-appointed chief executive said people wanted action after five pro-democracy legislators …
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McDull the pig chosen to represent Hong Kong
Telegraph.co.uk
A slow-witted cartoon pig named McDull has been chosen ahead of the likes of Jackie Chan and Jet Li, the kung fu film stars, as the face of Hong Kong this year. By Malcolm Moore, Shanghai The Hong Kong Tourist Board said it had “hired” McDull ahead of …
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Invest Hong Kong thanks overseas and Mainland investors for their confidence …
7thSpace Interactive (press release)
Hong Kong (HKSAR) – The Chief Executive, Mr Donald Tsang, today (June 29) hosted a cocktail reception to thank the overseas and Mainland investors that have set up or expanded in Hong Kong during the past year. Their presence in Hong Kong is a …
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PCCW Global and Tinet Bridge Ethernet Services
MarketWatch (press release)
PCCW Limited /quotes/zigman/26457 HK:8 +1.82% is the holding company of HKT Group Holdings Limited (HKT), Hong Kong’s premier telecommunications provider and a world-class player in Information and Communications Technologies. …
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HK Airport Authority Last FY Net Profit Up 42% At Record HK$4.04 Bln
Wall Street Journal
HONG KONG (Dow Jones)–Airport Authority Hong Kong, which operates the city’s international airport, said Wednesday its net profit for the fiscal year ended March 31 rose 42% to a record HK$4.04 billion (US$519 million) because of strong demand for air …
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The Bachelorette – Hong Kong Phooey
CliqueClack TV
It was called Hong Kong Phooey, and featured the vocal stylings of the fabulous Scatman Crothers. As I watched Ashley and the gang cavort around Hong Kong, the theme song to this cartoon kept running through my head. Ironically, natch. Hong Kong Phooey …
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LC Urgent Q2: Scarlet fever in Hong Kong and neighbouring areas
7thSpace Interactive (press release)
There has been a rapid increase in the number of cases of scarlet fever (SF) infection in recent months, including the fatal cases of two young children, and a study conducted by the University of Hong Kong has revealed that a mutated strain of the SF …
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Grand Power Logistics Reports Financial Results for Q1 2011
MarketWatch (press release)
In April, 2011, the Corporation’s Hong Kong subsidiary, Grand Power Express International Limited (“GP Express”), has signed an exclusive partnership contract with Necko Freight Forwarders Ltd. (a subsidiary of Budget Couriers Pvt Ltd.) to develop …
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Hong Kong’s exports up 10.1% in May
China Daily
HONG KONG – The values of Hong Kong’s total goods exports and imports both recorded year-on-year increases in May, at 10.1 percent and 13 percent respectively, the Census & Statistics Department of the city government said Tuesday. …
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Hong Kong Protests Loom as Tsang’s Support Sinks on Widening Wealth Gap
Bloomberg
s chief Asia and emerging-market strategist, talks about the outlook for Greece’s debt crisis, and Hong Kong and China’s economies. Mowat speaks with Rishaad Salamat on Bloomberg Television’s “On the Move Asia.” (Source: Bloomberg) Hong Kong’s widening …
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Kazakhmys Lists On Hong Kong Stock Exchange, May Issue Shares Later
NASDAQ
LN), said Wednesday that it has successfully listed its ordinary shares on the Main Board of the Stock Exchange of Hong Kong, and said no new shares have been issued or sold, but it may consider issuing some shares into the Hong Kong market at a later …
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Hong Kong remains a crucial role model for China’s future
China Post
But he went out of his way to pay tribute to Hong Kong, whose people had come out in great numbers to show their support for him after he was detained in April. Ai risked official retribution by voicing respect and gratitude for people in Hong Kong, …
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Who Says China Inflation Is Under Control?
Seeking Alpha
The Shanghai A-share index shot up 2.16 percent, and Hong Kong’s Hang Seng 1.90 percent the day after Wen’s article was published. On Monday, however, Wen, who is traveling to Europe, was quoted by the Hong Kong Media as saying for the first time that …
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Hong Kong activist fined over Beijing massacre protest statue
Monsters and Critics.com
Hong Kong – A pro-democracy activist in Hong Kong was Wednesday fined for putting up a statue outside a shopping mall to commemorate the 1989 student massacre in Beijing. Li Yiu-kee was fined 2000 Hong Kong dollars (257 US dollars) for helping erect a …
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Moody’s answers investor questions on Hong Kong’s Renminbi bonds
HedgeWeek
An earlier Moody’s report, published on 19 January 2011 and entitled “The Current Menu for Renminbi Bonds in Hong Kong: Dim Sum or Synthetic?”, provided background commentary on this evolving bond market in Hong Kong. offshore bonds – ie bonds issued …
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Hong Kong still on the List
Just Horse Racing
While Hay List continues to recover from a leg infection at the Randwick Equine Centre, McNair is on a reconnaissance mission in Hong Kong where he has been inspecting the facilities for a possible trip there in December. Hay List has been battling …
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Standard Chartered on track to report record profits for first half of the year
The Guardian
Strong trading in Hong Kong, Singapore, Malaysia, China and Indonesia help- ed offset lower income in India and Africa for Standard Chartered, which is on track to report record profits in the first half of the year. The London-based emerging markets …
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Hong Kong Seeks Arrest of Chinese Lawyer Over Insider Trading
The American Lawyer
A Hong Kong court has issued an arrest warrant for mainland Chinese lawyer Pan Caihong, after she failed to appear in court to face nine counts of insider trading. Pan was due to appear in the magistrates’ court of Hong Kong’s Eastern District Thursday …
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Proportion of Hong Kong people with good impression of Japanese surges
Mainichi Daily News
(AP Photo/Hiro Komae) HONG KONG (Kyodo) — The University of Hong Kong has found that the proportion of Hong Kong people with a good impression of the Japanese surged to 60 percent in its recent survey following the March 11 earthquake, from 35 percent …
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Office markets in top 3 financial centres rebound at varying speeds
Channel News Asia
By Jonathan Peeris | Posted: 29 June 2011 2224 hrs SINGAPORE : Office markets in the world’s top three financial centres – London, New York and Hong Kong – have recovered from the impact of the global financial crisis at varying speeds, according to CB …
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HK stocks close flat, Chinese banks weigh
Reuters
HONG KONG, June 29 (Reuters) – Hong Kong stocks cut early gains to close flat on Wednesday in declining volume as investors sold Chinese banking plays on uncertainty over their exposure to bad debt. The benchmark Hang Seng Index finished essentially …
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LCQ5: Broadcast of Legislative Council meetings by Radio Television Hong Kong
7thSpace Interactive (press release)
On Radio 5 of Radio Television Hong Kong (RTHK Radio 5), there are quite a number of programmes (eg Chinese operas, education and cultural programmes, as well as programmes catering for minority interests, etc.) the target audience of which is the …
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International Leaders
Investor’s Business Daily
You can find such a group in Hong Kong. Gaming and related equipment ranks 91st out of the 197 US industries tracked by IBD as of Tuesday’s edition. But it holds the No. 1 slot among Hong Kong listings. What we’re really talking about here is casinos. …
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Experts advise Chinese firms to embrace local culture
Plastics News
HONG KONG (June 28, 2011) — Chinese manufacturers are frequently told that one way to become more profitable is to develop their own brands and invest more in product design. But what’s often missing in that advice is how to make that complicated …
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Cathay Financial to form HK joint venture
Taipei Times
By Kevin Chen / Staff Reporter Cathay Financial Holding Co (國泰金控) shares rallied 4.66 percent yesterday after the nation’s largest financial services provider said its board had agreed to form a joint venture in Hong Kong with Conning Holdings Corp …
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Monday Ratings for June 27: ‘Bachelorette’ Picks Up Steam in Hong Kong
BuddyTV
On The Bachelorette, Ashley and her men headed to Hong Kong, where Gollum Bentley was creepily lurking inside a cave hotel room. The episode was up 9% versus last week, with 8.34 million viewers tuning in to look at Bentley’s dumb face one last time.
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Reflecting Asia’s Importance to Client Businesses, Spencer Stuart Locates …
Gamut News
HONG KONG, June 29, 2011 /PRNewswire-Asia/ — Spencer Stuart, a leading global executive search consulting firm, today announced that Simon Fenton — who oversees the firm’s business in the strategic growth markets of Brazil, India and China, …
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HK IPO market posts best interim performance in 10 years
The Asset
Hong Kong’s initial public offering market has bucked the weak market trend to post the best interim performance in 10 years, raising IPO proceeds 2.6 times more than 2010. In the first half of 2011, a total of HKD182.2 billion was raised from 33 IPO …
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Cosmopolitan Hotel and Cosmo Hotel Hong Kong Offers Spectacular Summer Family …
PR Web (press release)
Cosmopolitan Hotel Hong Kong and Cosmo Hotel Hong Kong are now launching family travel package offering various free services and room type options well suited to different family’s sizes and needs. Cosmopolitan Hotel Hong Kong and Cosmo Hotel Hong …
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HK shares to open up 0.8 pct, Yurun rebounds
Reuters
HONG KONG, June 29 (Reuters) – Hong Kong stocks could edge nigher on Wednesday, tracking gains on Wall Street amid increasing confidence that the Greek parliament will enact harsh austerity measures to save the euro zone member from debt default. …
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CTDC Announces Its 2010 Annual Report on Form 20-F
TradersHuddle.com (press release)
The Annual Report on Form 20-F can be accessed from the investor relations section of the Company’s website at http://www.chinactdc.com CTDC, a fast-growing clean energy group with headquarters in Hong Kong, provides solar energy products and solutions …
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Luk Fook Sales, Profits Soar on Rising Chinese Jewelry Demand
Diamonds.net
Luk Fook Holdings’ revenues and profits soared in the fiscal year that ended on March 31, 2011, as rising Chinese demand for luxury products helped boost the Hong Kong-based company’s performance. ”The step-up in the overall performance was mainly …
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Mapletree ‘in talks to buy HK’s Festival Walk’
TODAYonline
HONG KONG – Mapletree Investments, a property arm of Singapore investment company Temasek Holdings, is in discussions to buy the Festival Walk retail complex (picture) in Hong Kong’s Kowloon Tong district, the Sing Tao Daily reported yesterday, …
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