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Buyers shrug off Hong Kong rallies to snap up Aurora flats in Tsuen Wan, offered at 10 per cent discount to the neighbourhood

Homebuyers shrugged off a downpour and Hong Kong’s 11th week of street protests to snap up the flats offered at a discount by Billion Development & Project Management in Tsuen Wan.Billion sold 300 flats, or 85 per cent of the 354 available units on offer at The Aurora as at 5pm, sales agents said, adding that they expect the project to sell out by the end of the day.Prices at The Aurora start at HK$3.81 million (US$485,720), or HK$17,558 per square foot, for a 217-square foot (20 square metre)… Source…

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China’s investors are piling into Hong Kong shares via Stock Connect channel in the longest shopping spree in 18 months

Chinese investors are not abandoning Hong Kong’s stocks, even as Asia’s third-largest equity market endures a double whammy of social upheaval and jitters about a global recession.Mainland traders have been buying the city’s stocks for 21 straight days through Friday via the cross-border investment channel known as the Stock Connect, pouring an aggregate HK$45.3 billion (US$5.8 billion) into equities listing on the Hong Kong stock exchange. That was the longest buying spree since February 2018,… Source link

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Allan Zeman says he’s open to cutting rents to help Hong Kong businesses get through protest turmoil

Prominent Hong Kong businessman Allan Zeman, who has made his name famous through high-end restaurants and is a significant landlord in Central, says he is open to cutting rents to help tenants survive the protests that have rocked the city.Business for some restaurants is off by as much as 40 per cent, estimated Zeman, who said he remains bullish on the city’s future despite the grim economic toll that the US-China trade war and months of protests have taken on its economy.Retail outlets have… Source link

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Singapore 

Singaporeans advised to defer non-essential travel to Hong Kong: Foreign Ministry, Singapore News

SINGAPORE – The Ministry of Foreign Affairs (MFA) has issued a travel advisory asking Singaporeans to defer all non-essential travel to Hong Kong, following several pro-democracy protests in the financial hub. In an advisory dated Friday (Aug 16), MFA said the protests that have been ongoing since June have become increasingly unpredictable and could turn violent. The recent protests had also affected Hong Kong International Airport, leading to the cancellation of flights and leaving many travellers stranded at the airport. “Singaporeans are thus advised to defer non-essential travel to Hong Kong,…

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China 

Hong Kong protests could threaten city’s status as an international shipping hub, analysts say

Hong Kong’s status as an international shipping hub could be under threat, should China fast-track plans for economic integration due to the ongoing anti-government protests, analysts said.While Beijing has never spoken publicly about the economic consequences of the escalating protests over the past two months, a widely shared view within China is that the central government should reduce its reliance on Hong Kong as its key financial and logistics gateway to the rest of the world.This could… Source link

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Allan Zeman says Hong Kong airport shutdown was necessary as the situation left management with no other choice

The decision to shut down Hong Kong International Airport was taken by management and approved by the government, according to Allan Zeman, a prominent businessman and one of 17 board members of the Airport Authority.Noting that board members were kept appraised of the situation via a board members’ website, he said that management had no other choice but to shut down one of the world’s busiest aviation hubs because of safety concerns.The decision to stop flights was taken because anti… Source link

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Cathay Pacific, Hong Kong property and telecom stocks shoot up despite overall sense of caution in markets

Bargain hunters who gambled on telecom, Hong Kong property and Cathay Pacific Airways stocks were rewarded Thursday, as they stepped beyond the caution that dominated Hong Kong and mainland China markets.Cathay Pacific Airways shot up 5.7 per cent. That was its second straight day of gains, after it fell to a 10-year low earlier in the week when it got caught up in a firestorm connected to some of its employees’ participation in protests that have shaken Hong Kong.Meanwhile, the… Source link

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How Carrie Lam could end the Hong Kong turmoil in a single speech – with an amnesty for protesters and police, an independent inquiry and more social welfare

After skipping a press conference on Monday, Chief Executive Carrie Lam Cheng Yuet-ngor held a short one largely in Cantonese on Tuesday. It was an opportunity lost; she repeated previous mantras, as though the government has done no work despite being absent from public view. The government holds the solutions for peace in its hands but fiddles while Hong Kong continues to smoulder. No change from Government House means no change. Rich leaders blaming relatively impecunious protesters for… Source link

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China 

Donald Trump suggests meeting with China’s Xi Jinping to reach ‘humane’ response to Hong Kong protests

US President Donald Trump on Wednesday appeared to propose a face-to-face meeting with Chinese counterpart Xi Jinping to find a “quick” and “humane” solution to the weeks of unrest in Hong Kong.In a series of tweets on Wednesday night Washington time, Trump also appeared to link the outlook for trade talks with China with a resolution of the Hong Kong protests.“I know President Xi of China very well,” Trump said. “He is a great leader who very much has the respect of his people. He is also a… Source link

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Stocks blog: Will Hong Kong, mainland China join the recession party?

Well, that did not last long. A cheer brought on by a delay in tariffs on about US$300 billion worth of Chinese goods has proved to be short-lived. US equities tanked as much as 3 per cent overnight, spooking investors. And as chances of a recession build up, will Asia join the party? China and Germany released weak economic data on Wednesday, while the world’s largest gaming company, Tencent Holdings, posted disappointing results. Meanwhile, protests continue in Hong Kong for a 11th… Source link

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