Issue: November 10, 2008 (Archive)

Friday, September 10, 2010

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HSBC American units tipped for US$3.7b loans hit
HSBC (0005) could report today third- quarter bad-loan charges in its US units of up to US$3.7 billion (HK$28.86 billion), which may force HSBC to inject more money into the businesses, analysts said.

Crunch threatens up to 600 jobs at city's top lender
Hongkong and Shanghai Banking Corp, the Asian arm of global giant HSBC Holdings (0005), may lay off about 600 more staff in order to survive a worsening economy, sources said.

Taiwan cuts rate to spur economy
Taiwan's central bank unexpectedly cut interest rates by 25 basis points yesterday, its fourth reduction in just over a month as fears of a global recession threatens the export-led economy.

China Moly a steal under $2
Many Hong Kong investors are asking whether it's time to get back into the stock market.

Jobs gloom `worse than SARS'
The unemployment rate will reach double digits, hitting an historical high worse than during the SARS period, as the local economy may face negative growth starting in the second quarter next year, said Shih Wing-ching, a member of the government's Task Force on Economic Challenge.

Rio Tinto eyes JVs with China
Global miner Rio Tinto is looking to establish joint ventures with companies backed by the Chinese government, such as Chinalco, its chief executive was quoted as saying in Britain's Observer newspaper yesterday.

MSCI tipped to cut 19 local stocks from index
Nineteen Hong Kong-listed companies are expected to be taken off the MSCI index of Asia regions excluding Japan among 25 potential deletions, while Want Want International (0151) is tipped to be added in a semi-annual review to be unveiled tomorrow, said research house Nomura International.

HSI rally will battle selling pressure
The Hong Kong market could continue its rally this week but trading will remain volatile, with the blue-chip index likely to fluctuate between 13,000 and 15,000 points, market watchers said.

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