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Hong Kong’s benchmark stock index bursts through 30,000 points again as HSBC profit beats estimates

Hong Kong stocks rose on Friday after HSBC beat estimates with its first-quarter earnings, the benchmark Hang Seng Index finishing above the key 30,000-point level.The gauge added 0.5 per cent to close at 30,081.55, bringing the week’s gains to 1.6 per cent, the largest increase in four weeks.Turnover in the market stood at HK$66.9 billion (US$8.5 billion), well below the daily average of HK$110.6 billion achieved in March. The mainland Chinese markets remained closed for the Labour Day public… Source link

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Singapore 

Mother and son injured after e-bike bursts into flames in Ang Mo Kio accident with van, Singapore News

SINGAPORE – A 35-year-old woman and her 10-year-old son were injured after their power-assisted bicycle crashed into a van and burst into flames in Ang Mo Kio on Friday (April 26). The accident occurred at about 8.30pm at the junction of Ang Mo Kio Street 23 and Ang Mo Kio Avenue 3, the police said. The Singapore Civil Defence Force (SCDF), which was alerted to the case at the same time, said that as a result of the accident, a fire broke out involving the personal mobility device. SCDF officers…

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Singapore 

Electric scooter bursts into flames in Hougang flat, 2 residents injured, Singapore News

SINGAPORE – An electric scooter that was left charging in the living room of a Hougang flat burst into flames on Friday evening (March 29), with four people in the unit fleeing for their lives. The Singapore Civil Defence Force (SCDF) said it was alerted to the fire at Block 313 Hougang Avenue 5 at about 7pm. SCDF said that the fire, which involved a personal mobility device (PMD) in the living room of the seventh floor unit, was put out using a water jet. A 27-year-old man who lives…

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China’s US$59 billion internet and technology bubble will trap many private-equity investors when it bursts, Bain says

China’s internet and technology sector is a bubble waiting to burst, according to an annual Asia-Pacific private equity report for 2019 released by Boston-based global management consultancy Bain & Company on Friday.According to the report, many private equity (PE) investors are stuck with portfolio companies bought over the past five years at high multiples. They now also face a deteriorating outlook for their investment.“That scenario, if and when it comes, will make it tough for general… Source link

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