Markets

HK wakes to a nightmare

Benjamin Scent and agencies The Standard 08.10.2008
HK wakes to a nightmare

The holiday's over for Hong Kong investors, who wake up today to find the European financial system teetering on the brink of total disaster.

Short sellers face the bullet

Katherine Ng The Standard 03.10.2008
Short sellers face the bullet

Hong Kong is prepared to follow its overseas counterparts in banning short selling of financial-sector stocks amid intense volatility and sweeping changes caused by the US financial tsunami, government sources said yesterday.


Equity, commodity markets may be next bubble

DAVID PARKINSON The Globe and Mail 02.10.2008
Equity, commodity markets may be next bubble

NIAGARA-ON-THE-LAKE, ONT. -- Influential economist Robert Shiller believes the U.S. housing mess isn't the only asset bubble investors have to worry about in the coming months - the equity and commodity markets still have some more hot air to exha...

HK bucks trend as shares slump

Hong Kong shares have rebounded after earlier plunging in reaction to the rejection by Congress of a US$700 billion package to bail-out the American economy.


Premier Wen Jiabao warns that the impact of the US financial crisis could become more serious. Photo:Reuters

Premier Wen Jiabao has warned that the impact of the US financial crisis could become "more serious" and has called for concerted efforts to contain the turmoil.

Asian stocks tumble as doubts surface over US rescue plan

HONG KONG (AFP) - Asian share prices tumbled in early trade Tuesday, as doubts mounted over whether a drastic rescue package for the US financial sector could avert an economic meltdown.


HK Gov't seeks to help Lehman minibond investors

The Securities & Futures Commission and the Hong Kong Monetary Authority have been in close contact with the representatives of Lehman Brothers - the Lehman Minibonds' distributors and trustees - to find ways to protect investors' interest.

Fiscal framework to be upgraded: FS

Financial Secretary John Tsang says the Government will enhance the regulatory framework in light of the lessons learned from the recent financial turmoil.


Withdrawals from AIG & AIA show increase

The Commissioner of Insurance, Clement Cheung, said there has been a increase in the number of customers of AIG and AIA making enquires and seeking redemption of their insurance policies.

Another giant tied to merger race

Katherine Ng The Standard 19.09.2008
Another giant tied to merger race

Morgan Stanley, the second largest US investment bank, is considering a merger with a financial institution to shore up investor confidence and avert the fate that befell Lehman Brothers in the latest credit crunch.


Another day of turmoil on stock markets. Photo: Reuters.

There's been another day of volatile trading on regional stock markets following last night's sell-off on Wall Street. Shares plunged more than 7 percent in morning trading in Hong Kong before rebounding this afternoon.

China stocks drop for third day

china.org.cn 18.09.2008
China stocks drop for third day

Chinese stocks tumbled 1.72 percent on Thursday, the third fall in three days, though most shares of the heavy-weight banking sector rebounded from heavy losses in the previous two days.


HK moves to avert AIA asset shift

Katherine Ng, Benjamin Scent and Alfred Liu The Standard 18.09.2008
HK moves to avert AIA asset shift

Hong Kong's Insurance Authority has exercised its power to ring-fence the assets of AIG's insurance subsidiaries, Financial Secretary John Tsang Chun- wah said yesterday.

Yam warns of critical days ahead

The Chief Executive of the Monetary Authority, Joseph Yam, has warned that the next few days will be critical to restoring the health of the global finance system.


Gov't acts to ensure market stability

A co-ordination mechanism has been launched by the Government in response to the impact of Lehman Brothers' bankruptcy filing and AIG's capital problems on Hong Kong's markets.

US sell-off hits regional stock markets. Photo: Reuters.

Hong Kong stocks have plunged following Wall Street's overnight sell-off in the wake of US investment bank Lehman Brothers filing for bankruptcy.


AIG struggles to survive financial tsunami

Christian Plumb Reuters 16.09.2008
A security guard greets workers outside the AIG headquarters in New York's financial district, September 15, 2008.  REUTERS/Brendan McDermid

NEW YORK (Reuters) - Insurer American International Group Inc struggled for survival a day after a financial tsunami swept away investment bank Lehman Brothers and forced the sale of rival Merrill Lynch in the biggest financial industry shake-up s...

U.S. Stocks Drop, S&P 500 Sinks Most Since 2001 Terror Attacks

Lynn Thomasson and Elizabeth Stanton Bloomberg 16.09.2008
U.S. Stocks Drop, S&P 500 Sinks Most Since 2001 Terror Attacks

U.S. stocks tumbled, pushing the Standard & Poor's 500 Index to the steepest drop since the September 2001 terrorist attacks, as Lehman Brothers Holdings Inc.'s bankruptcy and declining commodities increased speculation that credit-market losses a...


HK govt calls for calm amid turmoil

In Hong Kong, government officials have called for calm, after the collapse of Lehman Brothers.

An employee at the Lehman Brothers office in Singapore, May 27, 2008. [Agencies]

New York - Lehman Brothers, desperate for capital and fighting for its survival, unveiled a plan to shed weak assets and sell a stake in its funds business, but investors were skeptical and its shares hit new lows.



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