Issue: March 06, 2014 (Archive)

Thursday, March 6, 2014

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Homeowners in cut and run
Four flats changed hands at Tai Koo Shing yesterday at prices of up to 4 percent below the market average after discounts that reached HK$2.3 million.

Fast Retailing steps up the pace of global growth
Hong Kong depository receipts of Fast Retailing (6288) closed up 5.6 percent on its listing debut yesterday.

Panic threat in Chaori bond default
China is facing its first default of an onshore bond - an event which could trigger panic redemptions of financial products of various trusts, including Alibaba's unregulated Yuebao, a former adviser of the central bank warned.

Poly Culture wins big on gray market
Poly Culture (3636) rose 34 percent in the gray market ahead of its trading debut today, generating a paper gain of HK$1,130 per board lot of 100 shares.

Book tells how canny Obama powered US rally
The US equity markets continued to rally as they awaited the Federal Reserve's Beige Book economic summary and the US nonfarm payroll report for February.

StanChart profit slides 17pc
Standard Chartered (2888) posted its first decline of 16.7 percent in full-year net profit in more than a decade amid writedowns and lower revenue in South Korea.

Carriers act on VAT scare
China Unicom (0762) and China Telecom (0728) announced new cooperation plans with Tencent (0700) and electric auto maker Tesla Motors, respectively.

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