Issue: August 23, 2012 (Archive)

Wednesday, May 22, 2013

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CDMA asset buy plan sets off rally in China Telecom
China Telecom (0728) plans to acquire 3G network infrastructure from its state-owned parent for an initial 84.6 billion yuan (HK$101.3 billion) to cut future costs.

Good show as TVB puts on record profit
Television Broadcasts' (0511) interim net profit rose 18.2 percent to a record high of HK$850 million.

Yuan futures trading set for September 17
The first offshore yuan futures contracts will be available for trading on September 17.

Stocks slip on Greek worries, Japan data
Shares prices slipped from 3 month highs on major world markets yesterday and government bond yields fell as Greek and European officials met on the euro zone debt crisis and after weak Japanese economic data stoked concern about global growth.

On-off halts smack of regulatory fight
Regulators yesterday requested the suspension from trading of China High Precision Automation (0591).

Rental gains rob Bonjour net of glow
Soaring rents hurt the bottom line at Bonjour Holdings (0653), causing a a 35-percent plunge in first-half net profit to HK$84.7 million, or 2.8 HK cents per share, from a year earlier.

Tower rises against Central rent trend
Monthly rents in CCB Tower, a 31-story, grade A office building in Central scheduled for completion in December, have been set at between HK$150 and HK$160 per square foot.

Undervalued property stocks look good bet
US stocks turned soft after reaching a four-year high, but Americans are still buying selectively.

Developers poised to bid for two sites
Two residential sites in Tseung Kwan O and Ma On Shan were opened for tender yesterday.

China retail brands plunge
Mainland consumption power seems to have run out of steam in the first half as interim profit at the nation's two top retail brands plunged more than 80 percent.

Overhaul of luxury hotels costs HSH
Hongkong and Shanghai Hotels' (0045) outlook for the traditional autumn high season is uncertain, the company warned yesterday.

Henderson gains despite slow sales
Henderson Land (0012) reported 5percent growth in first-half underlying profit even though it sold fewer homes in the period from a year ago.

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