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  • April 20, 2014
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  1. Business - China Business - STOCKS

    Shareholders eye slice of Gome founder's cash

    Posted Apr 18th 2014, 01:17am by Enoch Yiu

    ... of mainland retailer Gome Electrical Appliances yesterday voted almost unanimously for the company to accept HK$420 million from its jailed founder and his wife as compensation for their misconduct ... of money but now with Wong in jail, the company's Hong Kong stores have been closed. It's very disappointing," she said. "Wong and his wife should pay compensation to small ...

  2. Business - Money - STOCKS

    Investors told not to count on quota top-up

    Posted Apr 14th 2014, 05:07am by Enoch Yiu

    ... under the qualified domestic institutional investor scheme, introduced in 2006 to provide a quota to fund houses and banks for fund products sold to mainlanders. The scheme will also cap Hong ... not be increased immediately, the scheme may be suspended in less than a month. This would be hard for brokers and fund houses to provide products and services for investors. Beijing at least should have ...

  3. Business - Money - STOCKS

    Buy-back snaps Tencent's four-day losing streak

    Posted Apr 09th 2014, 01:40am by Sophie Yu

    ... hitting a HK$635 peak on March 6. The Shenzhen-based company that operates WeChat, the country's most widely used instant messaging application for smartphones, bought 153,000 shares ... Competition between internet companies on the mainland has been heating up. Alibaba, Tencent and Baidu have been aggressively acquiring companies to sharpen their competitiveness as well as expand ...

  4. Business - Money - STOCKS

    Strong rally fuels gamble on Tencent

    Posted Feb 22nd 2014, 01:15am by Sophie Yu

    ... months. The bank is scheduled to issue the product on Monday. Propelled by the overwhelming success of WeChat, its instant-messaging application developed for mobile devices, the mainland company's shares almost doubled in value to end last year at HK$494.60, against HK$249 at the end of 2012. Shirley Kwok, a director and head of retail and listed product sales at BNP, said the bank ...

  5. Business - Money - STOCKS

    Rakuten's Viber purchase sparks share sell-off

    Posted Feb 18th 2014, 04:34am by Bloomberg

    ... after the company announced plans to buy the Viber internet messaging and calling service for US$900 million. The deal adds to Rakuten's recent acquisitions of stakes in social-network ... for Rakuten's digital products. Rakuten also plans to create a game platform on closely held Viber, which has 300 million users of its instant messaging and free internet phone services. The acquisition ...

  6. Business - Companies - STOCKS

    Lenovo punished by downgrades over Motorola Mobility acquisition deal

    Posted Feb 05th 2014, 05:37am by Bloomberg

    ... of personal computers was downgraded by UBS, Morgan Stanley, Jefferies Group, JI-Asia Research and Kim Eng Securities. Lenovo chief executive Yang Yuanqing announced his company's two biggest ... margins than personal computers and giving it about 14 per cent of the market. The company then agreed to buy Motorola Mobility for US$2.91 billion in cash and stock, adding a brand established ...

  7. News - China Insider - STOCKS

    Did Xi Jinping's hiking jaunts boost outdoor apparel firm’s stocks?

    Posted Jan 15th 2014, 01:47pm by Amy Li

    ... Amy Li chunxiao.li@scmp.com When Beijing Toread Outdoor Products, a leading Shenzhen-listed brand, saw a two-day spike in its stock price this week, speculation arose that perhaps the recently revealed hiking trips taken by President Xi Jinping had something to do with it. News that Xi was an enthusiastic hiker and that he had even become honourary chairman of a hiking club ...

  8. Business - China Business - STOCKS

    Shares in two mainland firms battered after reports

    Posted Nov 22nd 2013, 03:02am by Toh Han Shih

    ... of Prince Frog International and China Huirong Financial fell sharply yesterday in reaction to negative reports on the companies. Childcare product manufacturer Prince Frog's shares plunged 26 ... in the stock's history, with 238.93 million shares changing hands. The share price of Huirong, a mainland pawnshop company, fell 9.1 per cent to HK$1.69. On Wednesday night, Huirong announced ...

  9. Business - Companies - STOCKS

    Prince Frog's market value plummets after accusations of fake sales data

    Posted Oct 16th 2013, 03:37pm by Jeanny Yu

    ... Prince Frog International, the mainland childcare product maker that hired pop singer Kelly Chen as its advertising spokeswoman, saw more than a quarter of its market value disappear in two hours yesterday after US short seller Glaucus Research said its sales data was fake. Headquartered in Zhangzhou, Fujian province, the company reported sales growth of 700 per cent from 2007 to last year, ...

  10. Business - China Business - STOCKS

    China Cosco director quits amid probe

    Posted Nov 09th 2013, 01:53am by Toh Han Shih

    ... resigned because of "personal reasons". Shares in the company were earlier sold down after it admitted Xu was being investigated. Xinhua also reported yesterday, citing unnamed sources, ... as 6.9 per cent before closing down 5 per cent at HK$3.58, in one of the heaviest trading in weeks. In Shanghai, it dropped 3.85 per cent to 3 yuan (HK$3.81). Its sister company, Cosco Pacific, ...




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