HONG KONG: CLOSING WRAP, 04Jun2013

HK sidesteps China’s dismal performance and ends down slightly; Timmy Tong has awoken the beast; Lenovo and their mystery partner; Mainlanders now hoover up insurance; Civil servants can’t beat inflation; Here’s what you missed today.

Mainland investors buy insurance in HK to shift funds offshore

People from China have been flooding into Hong Kong to buy gold, milk powder and luxury goods in recent months, and it has now come to light that mainland visitors have also been aggressively buying up insurance policies, having bought HK$9.9 billion (US$1.3 billion) of new insurance policies in Hong Kong last year… Read More, Want China Times