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DATAWATCH - Hong Kong retail sales to slump further in coming months - DBS Bank

HONG KONG (XFN-ASIA) - Retail sales in Hong Kong are likely to dip further in the coming months, with the fall in volume terms possibly reaching 7 to 8 pct, as the full impact of the global economic downturn begins to be felt, said Daniel Chan, senior investment strategist at DBS Bank. "The deterioration in consumers' buying power was actually worse than what the latest retail sales figures indicated," he said. The government announced today that retail sales in Hong Kong rose 1.1 pct year-on-year in November to 20.5 bln hkd, but were down 2.8 pct in volume terms. October retail sales were revised to 20.8 bln hkd, up 0.3 pct year-on-year. By volume, they were down 4.3 pct from a year earlier. "The latest monthly figures were watered, given the fact that retail sales were boosted by heavy discounts offered by retailers of daily consumption

Hutchison submit joint bid for Hong Kong 4G licence

Hong Kong operator PCCW and Hutchison Telecom Hong Kong have submitted a joint bid for a licence to offer fourth-generation mobile telephone services, the South China Morning Post reported. Hong Kong telecom regulator Office of the Telecommunications Authority (Ofta) said it had received five bids for the broadband wireless access licence, the paper quoted. The regulator will hold an auction for the licence on 12 January. The licence will cover a spectrum suitable for the technology called Long Term Evolution, an upgraded version of the existing 3G mobile technology. It can also be used for fixed wireless broadband technology. Other bidders include China Mobile, which operates the 2G mobile service in the city under the Peoples brand, CSL, a joint venture between New World and Australia's Telstra; SmarTone Wireless, and fixed-line carrier

Thailand seal thriller over Hong Kong

Thailand pulled off a dramatic and unexpected one-wicket win over tournament favourites Hong Kong at the Chiang Mai Gymkhana after Pornthiva Olarakchat took 4 for 9 to bowl out the visitors for 76. Thailand's chase started promisingly even though they lost three wickets in reaching 35 in nine overs. However, Hong Kong struck with three more wickets in the space of seven balls. Thailand needed 24 off 11 overs with four wickets in hand and the game was still tilted in their favour when Hong Kong came back to reduce them to 74 for 9 in 20.1 overs. But Pimpika Jindam stayed calm, and in the company of No. 11 Sutanya Yimpaibool, saw Thailand to safety - sealing the win with a boundary.

HK central bank injects $298 mln into market [XFNA]

HONG KONG, Dec 31 (Reuters) - Hong Kong's central bank, the Hong Kong Monetary Authority, confirmed on Wednesday it had injected HK$2.325 billion ($298 million) into the city's banking system late on Tuesday in New York trading to curb strength of the Hong Kong dollar.

HK central bank injects $298 mln into market

HONG KONG, Dec 31 (Reuters) - Hong Kong's central bank, the Hong Kong Monetary Authority, confirmed on Wednesday it had injected HK$2.325 billion ($298 million) into the city's banking system late on Tuesday in New York trading to curb strength of the Hong Kong dollar.

HK central bank injects $298 mln into market

HONG KONG, Dec 31 (Reuters) - Hong Kong's central bank, the Hong Kong Monetary Authority, confirmed on Wednesday it had injected HK$2.325 billion ($298 million) into the city's banking system late on Tuesday in New York trading to curb strength of the Hong Kong dollar.

Digital Content Creation Camp Announces Proof of Concept Console Games at Asia Game Show 2008

HONG KONG, Dec. 18 /PRNewswire-Asia/ -- Hong Kong Cyberport Management Company Limited (Cyberport) announced that it would demonstrate the games developed by students from the "Digital Content Creation Camp" (DCCC) On December 22 at the Asia Game Show 2008. DCCC provides training opportunities for young people and professionals in Hong Kong, especially targeted at game programmers, designers and producers in cooperation with Sony Computer Entertainment Hong Kong Ltd (SCEH) and Premium Agency Inc. (PA). With the effort of DCCC students, they are developing proof of concept console games for PLAYSTATION(R)3(PS3(TM)) and are going to demonstrate to game industry professionals, including Mr. Motonobu Kawashima (Producer, Premium Agency) from Japan, game publishers and gamers at SCEH booth stage on December 22 at the Asia Game Show 2008!

HK citizens welcome astronauts, Shenzhou VII delegation

HONG KONG - The Delegation of Shenzhou VII Manned Space Mission was warmly greeted by some 30,000 Hong Kong citizens waving national flags and flags of the Hong Kong Special Administrative Region (HKSAR) in Hong Kong Stadium on Sunday afternoon.

Nepal and Malaysia make finals

Malaysia prevailed over Hong Kong by two runs in a tense match in Chiang Mai to progress to the final of the Asian women's Under-19 tournament. After opting to bat, Malaysia were kept down to 82 in their allotted 25 overs by some disciplined Hong Kong bowling, particularly from left-arm spinner Chan Sau Har (5-4-1-2). Hong Kong were on course for a place in the final after captain Keenu Gill made 27, the highest score in the game, to take them to 49 for 3 in the 12th over. However, none of her team-mates made it to double digits and Hong Kong were dismissed for 80. Left-arm spinner Alessandra Shunmugam was the most effective Malaysian bowler, taking 4 for 18.

Hong Kong Banks Repay HKD30 Million In Mini-Bond Scandal (DJ)

HONG KONG (AFP)--Hong Kong banks have paid back HKD30 million ($3.9 million) to investors who said they were missold financial products backed by failed U.S. giant Lehman Brothers, a lawmaker said Wednesday.

HK dollar hovers at upper limit, eyes c.bank

For more information on Top News, visit http://topnews.reuters.com Hong Kong news Hong Kong stock report China news Hong Kong hot stocks All foreign exchange Hong Kong diary Press digests Keywords: MARKETS HONGKONG FORWARDS

Hong Kong stocks slide on China Mobile gloom

Hong Kong, Dec 22 (DPA) Hong Kong shares fell back through the 15,000-point barrier Monday, shedding more than three percent in their second straight day of losses.

BofA, tycoon sell China bank stakes

Bank of America Corp., coping with tough economic conditions, raised $2.83-billion (U.S.) by selling part of its stake in China Construction Bank Corp., and Hong Kong's richest tycoon sold a $500-million stake in rival Bank of China. Bank of America sold more than 5.62 billion Construction Bank shares at $3.92 (Hong Kong) (60 cents) apiece, according to a term sheet. The sale reduces the bank's stake to 16.6 per cent from 19.1 per cent. A foundation controlled by tycoon Li Ka-shing yesterday sold Bank of China shares worth up to $524-million. Mr. Li sold two billion shares at $1.98 (Hong Kong) to $2.03 each, according to a term sheet. In Hong Kong, Construction Bank closed down 39 cents at $4.06 and Bank of China fell 7 cents to $2.14.

Hong Kong shares end morning up; 3G telecom gear makers jump-UPDATE

HONG KONG (XFN-ASIA) - Share prices finished the morning higher as large-caps including HSBC and China Mobile were snapped up by bargain hunters following a rally on Wall Street after the Federal Reserve extended the terms of three emergency loan programs. China stocks led the gains on continued expectations of further stimulus measures from Beijing. Banks outperformed on signs of further government support via share purchases. Mainland telecommunications firms surged on continued hopes that Beijing will soon issue third-generation (3G) wireless service licences, giving them a new source of revenue. Local property firms continued to be under pressure after BOC Hong Kong, the city's second-largest mortgage lender, raised its mortgage interest rates, following a hike by market leader HSBC on Monday.

Panda called 'Peace' bites Hong Kong keeper

HONG KONG (AFP) - A giant panda at a Hong Kong entertainment park failed to live up to its name after it bit the leg of one of its keepers, a spokeswoman said Tuesday.

Chinese taikonauts visit Hong Kong after historic space walk

HONG KONG, Dec. 5 (Xinhua) -- Three Chinese taikonauts, who jointly carried out China's historic maiden space walk, arrived in Hong Kong here Friday morning, starting a four-day visit to the Special Administrative Region (SAR).

Law maker challenges Hong Kong govt's .hk domain policy

Hong Kong legislative councilor James To Kun-sun questioned the government's move to appoint more representatives to the board of Hong Kong Internet Registration Corporation (HKIRC) -- the non-profit, non-statutory organization that administers Internet domain names under '.hk' country-code top level domain.

HSBC not moving headquarters to Hong Kong

HONG KONG: HSBC is not moving its headquarters back to Hong Kong from London, even if it has made China a priority in its expansion plans, the South China Morning Post said on Monday, citing a top bank official.

HSBC not moving headquarters to Hong Kong

HONG KONG (Reuters) - HSBC (0005.HK: Quote, Profile, Research) is not moving its headquarters back to Hong Kong from London, even if it has made China a priority in its expansion plans, the South China Morning Post said on Monday, citing a top bank official.

Geologists launch three-year earthquake study in Hong Kong

Hong Kong - A three-year study is to be conducted in Hong Kong into the effects of an earthquake on the high-rise city of 6.9 million, officials said Saturday. Geologists will examine the effect of a magnitude seven earthquake on the steep, landslip-prone hillsides in the densely populated wealthy former British colony.

Chinese taikonauts unveil show in Hong Kong on spacewalk mission

HONG KONG, Dec. 6 (Xinhua) -- Three visiting taikonauts, or Chinese astronauts, launched an exhibition on "China's First Spacewalk Mission" Saturday morning, enabling Hong Kong citizens to have a glimpse of the country's space journey.

Space mission commander gives clues on first Hong Kong astronaut

HONG KONG, Dec. 5 (Xinhua) -- A deputy chief commander of China's manned space project who headed a visiting manned space delegation gave some clues on when Hong Kong could have its first astronaut as he briefed the media in the city on Friday.

Space mission commander gives clues on first Hong Kong astronaut

HONG KONG, Dec. 5 (Xinhua) -- A deputy chief commander of China's manned space project who headed a visiting manned space delegation gave some clues on when Hong Kong could have its first astronaut as he briefed the media in the city on Friday.

Hong Kong shares gain 1.3 pct, telcos gain on 3G

HONG KONG, Jan 5 (Reuters) - Hong Kong shares rose 1.3 percent on Monday, with China Mobile rising for a second day on hopes that Chinese telecom operators will soon be issued licences to offer third generation (3G) services.

Hong Kong shares gain 1.3 pct, telcos gain on 3G

By Parvathy Ullatil HONG KONG, Jan 5 (Reuters) - Hong Kong shares rose 1.3 percent on Monday, with China Mobile rising for a second day on hopes that Chinese telecom operators will soon be issued licences to offer third generation (3G) services. China's Lenovo Group climbed 4.1 percent after the Chinese magazine Caijing said the world's No.4 personal computer maker was set to announce a major restructuring plan on Jan. 8 including changes of its top management. The Hang Seng Index ended the morning session 1.3 percent higher at 15,230.87 with a 1.3 percent drop in HSBC Holdings limiting gains. 'HSBC still faces a lot, many challenges in its U.S. and UK markets and the stock rebounded quite a lot on Friday,' said Castor Pang, strategist with Sun Hung Kai Financial.

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