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Hung Hom’s connectivity with emerging business hubs in Hong Kong is lifting the fortunes of the former industrial area

In military circles, they say that amateurs talk about tactics, but professionals study logistics. Looking at the way property markets have developed in recent years, I’ve come to the conclusion that something similar applies in real estate.Don’t worry, I’m not suggesting war has broken out. At least not yet. What I mean is that the mantra “location, location, location” is no longer enough. These days, it is “connections, connections, connections” – the construction of transformative transport… Source link

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Central-Wan Chai Bypass elevates the fortunes of working-class neighbourhood of North Point

In Hong Kong’s Eastern District of North Point, the old and the new blend seamlessly together. Alongside new, upscale residential projects and glass-fronted office towers, stand decades-old residential buildings, a bustling wet market and even the State Theatre, a Grade 1 historic building. Sun Hung Kai Properties achieved HK$61,000 (US$7,777) per square foot for a flat at its new Victoria Harbour development, while Henderson Land Development’s office tower at 18 King Wah Road sold for HK$9.95… Source link

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Hong Kong’s billionaire class shrinks the most as trade war wrought havoc on global markets, wiping out worldwide fortunes

Hong Kong’s class of US dollar billionaires lost US$56 billion last year, or 17.5 per cent of their combined fortunes, as the US-China trade war wrought havoc on global markets and commerce.The number of billionaires declined to 87 in Hong Kong last year, with their combined wealth shrinking to US$259 billion, according to the 2019 survey by Wealth-X, which specialises in researching ultra high net worth individuals, or people with at least US$30 million (HK$235 million) in assets.That decline,… Source link

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Hong Kong’s dollar millionaires swell at the slowest pace since 2014, as trade war-induced bear market crimped fortunes

The ranks of Hong Kong’s US dollar-denominated millionaires grew at their slowest pace since 2014, as the US-China trade war weighed on financial markets and depressed stock values all over Asia, according to a report by Citibank.The number of Hong Kong residents with at least HK$10 million (US$1.27 million) in assets, including property holdings, rose 3 per cent last year to a record 511,000, based on Citibank’s telephone survey and interviews with 4,192 respondents. Of these, the number of… Source link

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Global 

US-China trade war mean it’s ‘too soon to predict a turnaround in fortunes’ for regional manufacturing

Analysts warned that it was still too early to predict a turn in fortunes for the region’s manufacturing sectors because uncertainties continue to linger on the US-China trade talks, despite the first signs of stabilisation after a sluggish start to the year, as activity bounced back in several Asian economies in March.China’s Purchasing Managers’ Index (PMI) from both the official government data and the Caixin/Markit private survey beat economists’ forecasts. The official manufacturing PMI… Source link

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An amazing turnaround in fortunes as China’s stock market goes from the world’s worst to best in a matter of months

Hong Kong equity investors must be looking enviously across the border this year.The city’s two main benchmarks are hardly doing badly, but gauges on the mainland – after a grim 2018 – are eclipsing them and just about every other worldwide. The ChiNext in Shenzhen has led the charge with a 42 per cent rally. This renewed enthusiasm for yuan-denominated stocks means the Hang Seng Index is underperforming the Shanghai Composite Index by the most in a year.The gap in performance has widened… Source link

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A tea maker called Blockchain Group?! Hong Kong firms fail to revive flagging stock market fortunes with far-fetched name changes

What’s in a name? When it comes to Hong Kong-listed companies looking to boost their stock market performance by changing their name to something more fashionable, then not much, the evidence suggests.It is a common tactic deployed by firms looking to revive their flagging fortunes and bolster their share price. The chosen name is often an attempt to attract investors by signalling a connection with a boom industry, in many cases one that bears no relationship at all to the company’s business… Source link

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Money 

Fewer billionaires among China’s lawmakers as 2018 stock market rout crimps their ranks and fortunes

The opening session of the 13th National People’s Congress (NPC) at the Great Hall of the People in Beijing on March 5, 2019. The number of US dollar billionaires in the legislature dropped to 93, from 104 last year, while their combined wealth was crimped by 45 per cent due to a stock market rout. Photo: SCMP/Simon Song Source link

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A record number of Chinese billionaires fall off Hurun’s rich list as 2018 stock market rout ravaged their fortunes

A record 213 Chinese billionaires dropped out of the widely watched Hurun Global Rich List, as slumping stock markets worldwide wiped out a combined US$1 trillion from the fortunes of the world’s wealthiest individuals, a report released on Tuesday showed.Only 658 super-rich individuals living in the Greater China region made it to the 2019 list, down from 819 last year.The squeeze felt by Chinese billionaires was much deeper than their peers in other countries, as the country’s worst stock… Source link

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Chinese-born brothers build billion dollar fortunes in Silicon Valley with network security software firm Fortinet

Cybersecurity has unlocked riches for Ken and Michael Xie. The Chinese-born brothers are now billionaires from their stakes in Fortinet Inc., the Silicon Valley-based network security software firm they co-founded almost two decades ago, according to the Bloomberg Billionaires Index. Spurred by high-profile data breaches and malware attacks, cybersecurity has become a growing priority for companies. Cloud-focused firms including Fortinet and Palo Alto Networks Inc. have benefited as businesses update their computer infrastructures, posing a threat to more established network software providers such as Cisco Systems Inc. and Juniper Networks…

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