Issue: May 18, 2012 (Archive)

Thursday, June 20, 2013

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Facebook listing spurs market in derivatives linked to price
Structured products betting on the future stock price of Facebook Inc are being sold by banks as the social network raises as much as US$16 billion (HK$124.8 billion) in the largest initial public offering by a technology company.

Spain and US data pile up misery
The euro slipped along with world stocks as deepening turmoil in Greece and Spain kept investors wary of riskier assets, with weak US economic data adding to the cautious mood.

Jobless numbers remain low
Hong Kong's jobless rate remains at a 30-month low with the seasonally adjusted unemployment rate for February to April hitting 3.3 percent, down from 3.4 percent in the previous three months before that, the Census and Statistics Department said yesterday.

Yongda Auto flags off retail drive
Luxury car dealer China Yongda Automobiles Services Holdings opens the retail tranche today of its HK$3.37 billion initial public offering.

Gold shines for China as costs, curbs bite
Mainland gold demand hit a record high in the first quarter on investor worries over inflation and property market curbs, the World Gold Council said.

Johnson powers to record despite gloom
Johnson Electric (0179) posted a record profit for the fiscal year ending March 31 despite the poor economic situation in the United States and Europe.

HSBC on track to meet target
HSBC Holdings (0005) has cut costs by US$2 billion (HK$15.6 billion) and is on track to meet its three-year turnaround target despite the prevailing global uncertainty.

Sinotrans focuses on cost controls amid rough seas
Sinotrans Shipping (0368) is bracing for rough seas in the months ahead, amid an oversupply of dry bulk vessels plying its most popular routes.

Anta inventory swells as orders drop
Anta Sports Products (2020) warns it has received fewer orders for the fourth quarter compared to the same period last year as inventory continues to swell.

Best stay out if you can't see bottom
Slightly positive economic data from the United States did not help sentiment.

Signs of uptick in mainland economy
Leading indicators in China are already showing signs of an uptick in the economy, a senior statistics official said yesterday, in stark contrast to downgrades of growth estimates by investment banks after disappointing data last week.

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