Markets

PCCW lawyer slams SFC `conspiracy theory'

MandyLo The Standard 02.04.2009
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The Securities and Futures Commission found a regional director of Fortis Insurance Company (Asia) Ltd may have been involved in vote- rigging by distributing PCCW (0008) shares to employees.

A bunch of losers

Benjamin Scent and agencies The Standard 27.03.2009
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Former AIG chief executive Maurice "Hank" Greenberg lashed out at his former employer yesterday, telling a Hong Kong audience it made no sense to pay US$165 million (HK$1.27 billion) in bonuses to executives in AIG's failed financial products unit.


Bonus bonanza

Bonnie Chen The Standard 23.03.2009
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A Hong Kong-based financial conglomerate has told senior staff to expect a bonus equivalent of up to a year's pay - after laying off up to 10 percent of employees since November and asking senior staff to take big pay cuts.

PCCW buyout report goes to High Court

Katherine Ng The Standard 18.03.2009
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The Securities and Futures Commission yesterday submitted a report on the PCCW's (0008) privatization plan to the High Court.


HKEx scraps closing auction

Katherine Ng The Standard 13.03.2009
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The stock exchange's controversial closing auction system, which came under fire after a plunge in HSBC shares om Monday, has effectively been scrapped.

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The Financial Secretary, John Tsang, says the Hong Kong stock exchange may suspend a post-close auction after complaints that rapid technical trading during the period pushed HSBC shares to a 14-year low on Monday.


Hear us roar

Benjamin Scent and Katherine Ng The Standard 11.03.2009
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The iconic HSBC (0005) lions have not lost their roar, despite a last-minute share plunge, a bank executive said yesterday as he sought to soothe the fears of Hong Kong investors.

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HSBC has attempted to shore up confidence among small shareholders in Hong Kong, after its share price tumbled 24-percent yesterday.


Tough talker turns on the tears

Mandy Lo The Standard 10.03.2009
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Well-known stock commentator Agnes Wu Mang-ching, pictured far right, burst into tears during a live Cable TV broadcast the moment that HSBC closed at HK$33.

Plunge probe

Benjamin Scent The Standard 10.03.2009
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Hong Kong's markets regulator has stepped in after a huge last-minute sell order yesterday caused the HSBC (0005) share price to plunge dramatically and close at a near 14-year low.


Now let's get this straight

Benjamin Scent The Standard 09.03.2009
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PCCW (0008) chairman Richard Li Tzar-kai spoke out for the first time yesterday since the PCCW privatization saga started, publicly stating he did not rig the shareholder vote and hitting out at "third-rate commentators" who peddle in "idiotic acc...

Li scions to claim their place in BEA top tier

Alfred Liu The Standard 06.03.2009
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Another generation of the Li family will take their place in the top tier of the Bank of East Asia (0023) as the company's deputy chief executive is set to retire soon.


I didn't rig PCCW vote

Mandy Lo and Benjamin Scent The Standard 05.03.2009
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Billionaire investor Joseph Lau Luen- hung yesterday spoke out for shareholders who support the PCCW (0008) privatization proposal, saying he wants to "tell the other side of the story."

HSBC slammed for not giving profit warning

Alfred Liu and Katherine Ng The Standard 05.03.2009
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HSBC (0005) is being criticized for not warning its shareholders before it posted a huge profit decline.


MTR in line for stake sale

Bonnie Chen The Standard 04.03.2009
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The government is considering selling 30 percent of its stake in MTR Corp, starting from 2011, to help balance its budget.

For love or money

Benjamin Scent, Katherine Ng andPatsy Moy The Standard 03.03.2009
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Passionate fans of HSBC (0005) were torn last night about whether to snap up new shares of the bank for HK$28 as part of a US$17.7 billion (HK$138.06 billion) rights issue, as feelings of love for the stock mixed with worries over the bank's near-...


HSBC: Stay in or get out?

Benjamin Scent and Patsy Moy The Standard 02.03.2009
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It's decision time for HSBC (0005) investors, who must now make up their minds whether or not to snap up new shares of the bank - expected to be offered at the bargain-basement price of HK$32 to HK$36 - as part of the huge rights issue HSBC is tip...

$100 shares exit with Manulife

Mandy Lo The Standard 25.02.2009
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Hong Kong bid goodbye to HK$100-share stocks after Manulife Financial Corp (0945) plunged 12.11 percent to HK$92.70 yesterday, the lowest since April 1, 2003.


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The controversial privatisation of Hong Kong telecoms firm PCCW will be further delayed after a High Court judge allowed the Securities and Futures Commission more time to investigate possible vote-rigging.

See you in court

Benjamin Scent The Standard 24.02.2009
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Tycoon Richard Li Tzar-kai's long- running battle to privatize PCCW (0008) faces another challenge.



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