Issue: June 13, 2012 (Archive)

Wednesday, May 22, 2013

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iBonds prove hit with investors
The second batch of inflation-linked iBonds is likely to be oversubscribed by at least three times as brokerage houses began cutting margin orders yesterday.

Cement firm on solid ground in gray market
Dongwu Cement International (0695), which makes its main- board debut today, traded on the gray market at as much as HK$1.28 - or 16.4 percent above its offer price of HK$1.10.

Paper costs weigh on Lee & Man profit
Lee & Man Paper Manufacturing (2314), the second largest containerboard manufacturer by output in the mainland, reported a 26.9 percent decrease in net profit due to rising operating costs and keen competition.

China Eastern in 8b yuan bond issue
China Eastern Airlines Corporation (0670) said it will raise 8.8 billion yuan (HK$10.7 billion) through a bond issue in the mainland to finance purchases of aircraft and refinance bank loans.

Li Ning plunges after profit warning
Shares of Li Ning (2331) slumped as much as 8.4 percent yesterday as the company said it expected full-year net profits to slide.

Price war looms as banks set to lower rates
Some small commercial banks in the mainland are preparing to lower borrowing rates on first-home mortgages, taking advantage of moves by the central bank to reform interest rates.

HKMA revises rules on `high net worth'
In a measure aimed at preventing inexperienced, wealthy individuals from signing on to high-risk investment vehicles, the Hong Kong Monetary Authority yesterday revised its definition of a high net worth individual.

Pain in Spain hits home
Hong Kong equities retreated yesterday as the gravity of the massive debt burden that Spain will take on sunk in, following the brief euphoria over the handout pledged by Europe.

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