Word: kong
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...political leaders responded in union to address the credit crisis. Outdoing Wall Street's 11% romp on Monday, the Nikkei shot up 14.2% Tuesday - an all-time record - making up for lost time after Monday's national holiday. But other Asian indices continued their previous climbs as well. Hong Kong's Hang Seng was up 3.2% over its 10.5% push Monday, while trading in Australia nudged 3.3% higher after a previous 5.1% jump...
...says would have been a "global depression." Still, he says the contagion and mutation of the crisis from one financial activity to others makes it impossible to know what to expect in macro terms in the medium run. Indeed, Paul Tsang, senior vice president at Polaris Securities in Hong Kong, says he expects the rebound to continue as investors wait to see how the proposed bailout plans affect financial institutions, but that longer-term predictions remain murky. "My initial hunch is consolidation will continue for one or two weeks," he says. "After two weeks, we'll see another change, either...
...says his company, which makes coats for export, is in solid financial shape and will likely fare better than low-cost competitors. But securing credit remains a major problem for Hong Kong's small business community. "Right now we're facing trouble," he says. "The banks are advising us that they may have to tighten our credit. They're giving letters to warn us they may cut our credit in the future...
...morning, London's FTSE 100 was up 6%, Paris' CAC 40 rose 6.68%, and Frankfurt's DAX jumped 6.25% - a remarkable turn-around from last week's battering that ended Friday with losses of 7% to nearly 9%. Most indices in Asia similarly rebounded, with Hong Kong's Hang Seng rising 6.77%, and Syndey's All Ordinaries up 5.14%. Though the region's showcase Nikkei index remained closed during Japan's public holiday, most Asian markets aside from Taiwan were all posting modest advances...
...World Trade Organization has required it to open its financial services sector to global competition and investment in 2006, "there is still only a narrow range of derivative instruments and innovation in financial products is still slow," says Sun Fei, Managing Director and Chief Economist at Hong Kong-based fund manager China International Capital. In other words, China's financial sector is just primitive enough to have prevented its banks from getting burned by buying complicated and ultimately toxic subprime mortgage products and derivative securities...