HONG KONG NEWSPAPER HIGHLIGHTS - NOV 13, 2009
SCHPY | Quote | Chart | News | PowerRating -- Highlights of today's
newspapers:
SOUTH CHINA MORNING POST:
- Footwear retailer Walker Group Holdings said yesterday it
would double the number of new distribution outlets to 150 next
year in anticipation of an upswing in consumer confidence.
- China Merchants Securities, the second mainland brokerage
to go public this year, has drawn heavy subscriptions as
investors remained optimistic about the company's earnings
outlook.
- Guoco Group has methodically built up its stake in Bank of
East Asia in a steady and cost-conscious manner that bankers
say is typical of the conglomerate's investment approach.
- China Minsheng Banking Corp, planning to raise as much as
HK$31.56 billion through a Hong Kong listing, has drawn US$14.1
billion worth of orders from international investors before
opening its initial public offering to local investors, a
banking source familiar with the deal said.
- Longfor Properties will raise HK$7 billion after pricing
its initial public offering yesterday near the top end of its
indicative price range following a strong take-up from retail
and institutional investors, sources say.
- Sun Hung Kai Properties expects annual rental income at
its flagship apm shopping centre in East Kowloon will increase
10 per cent to HK$300 million this year.
THE STANDARD:
- Banks and brokerages are ready to give nearly HK$90
billion in margin loans at special interest rates ahead of the
China Minsheng Banking Corp subscription frenzy.
- Confidence is building that China is preparing to let the
yuan appreciate again against the US dollar but policymakers
are expected to move slowly, which argues against any immediate
market move for some months.
- CITIC Pacific (0267), an arm of China's biggest
state-owned investment company, signed accords to sell as much
as two-thirds of the iron ore from its US$4 billion (HK$31.12
billion) Australian project to Chinese mills. The stock surged
on that news.
- The government lived up to market expectations, making
HK$172 million by auctioning eight luxury homes in a batch of
10 on Hong Kong Island.
- Word that NWS Holdings (0659) is in talks to sell Taifook
Securities Group (0665) is again fueling speculation that
mainland firms are keen to expand their brokerage coverage in
Hong Kong.
- Guoco Group (0053) may face anti-trust issues in Malaysia
if it attempts a takeover of Hong Kong-based Bank of East Asia
(0023).
cg
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