|
|
|
| Marks United Launches New Site - Tuesday, October 16, 2007 Marks United has launched this site to give their clients access 24x7 to the company. Visit often to learn more.
|
|
|
|
|
|
|
HK businessmen expect recession
A survey by the Hong Kong General Chamber of Commerce has found that nine out of ten business owners think Hong Kong will go into recession next year. And half of them expect a recession to last for at least two years. The chamber's Chairman Andrew Brandler said the negative sentiment was a reflection of the global economic crisis. He called on the government to provide immediate action to help businesses here, particularly small and medium enterprises.
Citigroup board to discuss options
Citigroup's board of directors will meet in New York later Friday to discuss ways to rescue the bank. The Wall Street Journal says the board may choose to sell sections of the bank or the entire company. The bank cut 52-thousand jobs this week. Its share price has sunk to a 15-year low.
HK stocks end the week with a rally
Hong Kong share prices have closed almost 3% higher, reversing earlier sharp losses as investors hunted for bargains in financial stocks after four straight days of falls. The Hang Seng Index ended the week at 12,659 - up 360 points on the day on improved turnover of HK$50 billion. The market was down about 4 percent at one point this morning following a second straight day of heavy selling on Wall Street. Tokyo's Nikkei Index rebounded 2.7 percent. Seoul also reversed course and rallied 6 percent. But mainland markets finished down about 0.7%.
HK stocks in major rebound
Asian stock markets have staged a major rebound after trading well down for most of the morning following a second straight day of heavy selling on Wall Street. Share prices in Hong Kong closed the morning session 4.5% higher. The Hang Seng Index was at 12,851 - a rise of over 550 points on the day and nearly a 1,000 points above the morning low. Japan's Nikkei was up 0.5%. Mainland shares, however, were down more than 4%. Earlier, the Dow sank to a new five and a half year low, losing over 5%, to end at 7,552. Wall Street tumbled after US lawmakers put-off a vote on a bailout of America's car industry.
BOJ holds interest rate at 0.3%
Japan's Central Bank has left its key interest rate unchanged at 0.3%. Three weeks ago, the Bank of Japan cut the rate for the first time in seven years, amid a continuing slowdown in Asia's biggest economy.
Exchange Fund makes record loss
The Government Exchange Fund made a record loss of HK$48.3 billion on its investments in the 3rd quarter of this year. The fund's total losses in the first nine months of 2008 amounted to HK$83.3 billion - a fall of 5.8%. The Chief Executive of the Monetary Authority, Joseph Yam, said the HKMA faced "unprecedented challenges" in managing the fund in the current financial crisis.
Regional markets follow Wall St down
Stock markets in the region are down this morning, after shares on Wall Street plunged for a second straight day. The Hang Seng Index is trading more than 3% down, that's a fall of more than 400 points, to the 11,800-level. The Nikkei in Japan is more than 2% lower, and the market in Sydney, has plunged almost 4%. Mainland shares are trading more than 3% down. Earlier, the Dow sank to a new, 5 and a half year low, losing 5.5% or 444 points, to end at 7,552, as US lawmakers put-off a vote on a bailout of America's car industry.
Wall Street shares continue to plunge
Shares on Wall Street plunged overnight for a second straight day as investor panic spread in the face of more weak economic data and the failure of lawmakers to produce a bailout for automakers. The Dow Jones Industrial Average sank to a fresh five-and-a-half year low, losing 444 points or 5.56 percent to 7,552. The Nasdaq lost 70 points or 5.07 percent to 1,316 and the Standard & Poor's 500 plummeted 54 points or 6.71 percent to a close of 752, the lowest finish since April 1997.
Wall St plunges again as panic spreads
Shares on Wall Street plunged overnight for a second straight day as investor panic spread in the face of more weak economic data and the failure of lawmakers to produce a bailout for automakers. The Dow Jones Industrial Average sank to a fresh five-and-a-half year low, losing 444 points or 5.56 percent to 7,552. The Nasdaq lost 70 points or 5.07 percent to 1,316 and the Standard & Poor's 500 plummeted 54 points or 6.71 percent to a close of 752, the lowest finish since April 1997.
No firm sign of auto bailout deal
US Congressional leaders say there's currently no realistic plan for supporting the country's struggling car industry. The leaders of the Senate and the House of Representatives asked the car manufacturers to submit new plans to Congress next month.
|
|
|
|
|