RCG Holdings shot up 2 1.33 per cent to 45.5 HK cents in the first half hour of trading. It then fell back to 38 HK cents up 1.3 per cent on the day. Why, you may wonder, should this be of any interest?
The chairman of this company is no less than Peter Chan Chun-chuen, who on Thursday was found guilty of forging a will that was purported to be that of billionaire businesswoman Nina Wang Kung Yu-sum. What was the market telling us? That Chan's conviction was good for the company?
This may be so in that with Chan's retreat from the scene, so to speak, the company may be worth more as a potential shell company to facilitate a back-door listing for a mainland company, than whatever Chan was doing with it. But you get the feeling that the firm's feng shui is all messed up despite Chan's dabbling in this arcane art.
The airline KLM has told its Hong Kong cabin crew that their services are no longer needed and they are to lose their jobs. The airline which has 12 flights a week to Hong Kong employs 38 Hong Kong cabin crew to fly on the Hong Kong-Amsterdam route specifically to handle language and cultural problems for Hong Kong Chinese passengers.