Asia Top News and Analysis Hong Kong

  • French cosmetics retailer L'Occitane en Provence has chosen Hong Kong for an initial public offering to raise about $300 million later this year, two sources with direct knowledge of the deal.

  • Franshion Properties said it would a buy Chinese high-end real estate development and management firm for $1.6 billion, as it seeks to become a top tier property investor in the mainland.

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    Asia's real estate sector is starting to feel the knock-on effects of the U.S. housing downturn and a slowing global economy. Would-be property buyers in cities like Hong Kong, Singapore and Sydney are waiting in expectation that prices will fall.

  • Temporary strikes by Qantas engineers carried over into Friday, further disrupting some domestic and international flights as their union held meetings over a wage dispute. The engineers, who began their strike Thursday, are asking for a 5%  annual pay increase.

  • A power struggle at the top of Hong Kong's largest property firm intensified on Thursday after its chairman filed suit against his brothers to stop them firing him, according to the firm and court documents obtained by Reuters.

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    In Thursday’s Web Extra find out how Pete Najarian interprets recent options action in Molson Coors. Also find out which of the world's stock exchanges Karen Finerman recommends as a buy.

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    The Year of the Rat hasn't treated Hong Kong's Hang Seng Index very well. Year-to-date, the index is down over 10%. But things have been picking up of late. Month-to-date, the Hang Seng is up 9%. Is the market turning a corner?

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    Beijing has called for a halt to red-chip companies, or China-backed firms incorporated and listed in Hong Kong, listing their shares in Shanghai amid a weak mainland stock market, a Hong Kong newspaper reported on Monday.

  • Hong Kong-based budget carrier Oasis Hong Kong Airlines is saddled with heavy losses and will halt flights, local media reported on Wednesday, while its chief executive said a news conference would be held on the matter.

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  • Hutchison Whampoa, billionaire Li Ka-shing's ports-to-telecoms flagship, posted a 53 percent rise in 2007 net profit on Thursday, slightly lagging  forecasts, riding a strong showing at its Canadian Husky Energy unit and a raft of asset sales.

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    Many investors see Hong Kong's China Enterprise Index, also known as the Red Chip Index, as a proxy for the Shanghai Composite Index. But the Red Chip Index has its own driving forces. This week, Charting Asia takes a look at red chips.

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  • Cathay Pacific Airways, Asia's No. 3 carrier, posted a forecast-beating 85 percent jump in second-half profit on Wednesday on surging passenger demand and higher ticket prices but the global credit rout has dimmed its outlook for 2008.

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    Hong Kong announced a record fiscal surplus in its annual budget on Wednesday, enabling Financial Secretary John Tsang to offer tax concessions and handouts, but forecast a temporary return to a fiscal deficit in 2008/09.

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    Robust European sales and a stronger euro helped Esprit Holdings slightly beat expectations with a 37 percent rise in first-half earnings, but the world's No. 5 fashion chain faces a potential hit to global consumer spending this year.

  • Hong Kong regulators may ban the practice of tycoons buying into initial public offerings as so-called "cornerstone" investors after criticism that the practice is unfair to ordinary investors, the South China Morning Post reported on Wednesday.

  • Anson Chan, one of the territory's most popular political figures.

    Anson Chan, the former head of Hong Kong's civil service, has won a hotly contested and highly symbolic by-election for a seat in the city's legislature, in a vote that was widely seen as a referendum on democracy.

  • International Capital, an international investment company based in Dubai, said on Monday it has made a "substantial investment" in Japanese electronics and entertainment conglomerate Sony.