Business Digest, October 20, 2012

PUBLISHED : Saturday, 20 October, 2012, 12:00am
UPDATED : Saturday, 20 October, 2012, 2:35am

New Yuen Long flats start at HK$3.47m

Henderson Land Development and New World Development announced the price list for the first 100 units of their jointly developed project in Yuen Long, The Reach. The average price is HK$7,228 per square foot, and flats start from about HK$3.47 million. About 80 per cent of the 2,580 flats range in size from 490 sq ft to 600 sq ft. Peggy Sito

Taiwan's export orders end 6-month slump

Orders for Taiwan's exports started to rise last month, by 1.9 per cent year on year - after six straight months of declines as Europe's financial woes persisted - buoyed by strong demand for new smartphones and tablets. Orders from the mainland rose 4.8 per cent. The island's export orders are a leading indicator for Asia's exports and typically lead actual exports by two to three months. Reuters

HK dollar trading at strong end of range

The Hong Kong dollar touched HK$7.75 versus the US dollar yesterday, a move that could trigger intervention by the Hong Kong Monetary Authority, which would buy US dollars to prevent further appreciation. It was the first time the pegged currency tested the strong end of its HK$7.75-HK$7.85 range since December 2009. Bloomberg

Net capital outflows turn to inflows again

China staged a return to capital inflows last month, reversing the net outflows in the previous two months, as a pick-up in export growth raised hopes the economy is stabilising. Mainland banks bought a net 130.7 billion yuan (HK$162 billion) in foreign exchange, compared with a net sale of 17.4 billion yuan in August, according to Reuters calculations based on data published by the central bank yesterday. Reuters