HONG KONG: CLOSING WRAP, 06Jun2013
June 6, 2013 Leave a comment
Hong Kong shares follow the US and China closing down just over 1% today. Home prices rise 0.2% week on week according to Nomura. Shun Tak takes down 33.3% of Jetstar, Hutch plans to buy O2 Ireland and Hopewell looks to spin off and list its property arm. Here’s what you missed.
It was a busy day of acquisitions for Hong Kong’s tycoons!
MARKET MOVES:
1. HSI (21,838.43, -1.05% DTD, -2.37% YTD)
2. HSCEI (10,361.22, -1.07% DTD, -8.84% YTD)
3. USDHKD (7.7621, +0.01% DTD)
TOP HEADLINES:
1. Hong Kong shares follow the US and China down 1.05% COB
2. Hong Kong home prices rise 0.2% week on week
3. Minimum wage reviews will respond to inflation
4. Shun Tak (0242) takes a 33.3% stake in Jetstar
5. Hopewell Holdings (0054) proposes spin off and listing of its property unit
6. Huishang Bank plans US$1bio HK IPO in 2014
7. Hutchinson Whampoa (0013) to buy O2 Ireland
8. Kai Tak to open for business next week
Headline Asia 