CHINA FEVER BREAKS OUT IN THE MARKET AFTER WEEK-LONG HOLIDAY China returned to work with a bang yesterday after the week-long Lunar New Year holiday. And the Hang Seng China Enterprises Index, after retreating last week, rebounded 3.24 per cent to 6,403.51 points. How hot was yesterday's China fever? Five of the seven most-traded stocks (as measured by value of shares traded) incorporate the word 'China' in their brand: PetroChina, China Construction Bank, China Life, China Mobile and China National Offshore Oil Corp. The other two were HSBC and Hutchison Whampoa. Of the 10 most-traded shares by volume, all were China-related and seven of these use the word 'China' or 'Sino' in their names. Of the top 20 in this category, only six were non H-share companies including HSBC, Cheung Kong, Hutchison, PCCW, Sun Hung Kai Properties and Esprit. Total H-share turnover topped $8 billion, or about 25 per cent of total turnover. DIFFICULT WEEK FOR DISNEY CHIEF 'As a father, I know how frustrating it is to disappoint your children,' Hong Kong Disneyland managing director Bill Ernest said at an emotional press conference on Saturday. It had been called to address the problems stemming from Disney's ticketing policy, which saw customers with valid tickets turned away at the gates because of overcrowding. Mr Ernest was close to tears in what was his first public appearance as the park's new chief, and Lai See understands it has been a difficult week for him in more ways than one. Mr Ernest was on a business trip to Disney's Orlando headquarters on February 1 when he learned of the problems back in Hong Kong. These would soon garner international media attention, including write-ups in major US newspapers. Mr Ernest decided to return to Hong Kong just two hours after landing in Orlando. His business trip also coincided with his daughter's birthday, and this fact apparently weighed heavily on him at his press briefing. Of course, the root cause of Disney's recent problems is really China's central-planning approach to national holidays. With the vast majority of the population taking recreation during the same three golden weeks of holidays, it is a recipe for all sorts of chaos. HAPPY NEW YEAR FOR GANG OF FOUR Four Haier Electronics directors rang in the new year by cashing out shares valued at $16.25 million. Deputy chairman Wu Kesong and three other directors sold a total of 65 million shares at 25 cents each, after exercising them at 15 cents each. That resulted in a cool net gain of $1.5 million to $2 million for the lucky gang of four. YAM HAS NO SAY ON HIS OWN PAY Hong Kong Monetary Authority boss Joseph Yam Chi-kwong was earning his world-beating salary in Legco yesterday, as he fielded legislators' questions on everything from the Exchange Fund's performance to his fat pay cheque. While his 2005 remuneration has not been revealed, Mr Yam made $9 million in 2004 - more than the likes of former US Federal Reserve chairman Alan Greenspan and Chief Executive Donald Tsang Yam-kuen. On the sensitive pay issue, Mr Yam argued that it was not his fault he receives so much; it is the financial secretary who decides his salary. He also noted the departure of several key members of his team last year, presumably to the even higher paying private sector. five-day week comes with a catch The bank giveth and the bank taketh away. The Hong Kong Economic Times revealed yesterday that while HSBC may grant back office staff a five-day week by mid-year, in return they will have to give up two to three days of their annual holiday entitlement.