Monday BROKERS and investors allegedly involved in short selling shares in Cheerful Holdings and All Pantronic, face prosecution following an investigation by the Stock Exchange of Hong Kong, into breaches of regulations. Exchange director, Paul Phenix, said the exchange had been pursuing its investigation against a number of individuals for short selling.
Tuesday Cheung Kong announced it had nearly three potential buyers for every flat on offer in the latest Laguna City sale despite uncertainty over property prices.
Swiss Bank Corporation announced a major local expansion programme which would double the size of its Exchange Square office and increase its staff by 150 - despite low turnover, slumping prices on the Hang Seng Index and also cancelled bond mandates.
Wednesday Beijing said state enterprises would find it harder to get credit, adding it would only lend industrial enterprises the same amount as last year, while some of those with no hope of returning profit will see their loans being cut off.
The Bundesbank surprised financial markets with a sharper-than-expected cut in two leading interest rates.
Thursday China announced plans to double the size of its B share market this year, but the plan came under attack as local analysts criticised China's bid to revive its declining fortunes. They cast doubt on the market's ability to absorb new issues as foreign investors become more cautious of investing in China.
