Hong Kong stocks rose yesterday, buoyed by property plays, but trade was volatile as a slide in Shanghai and $19 billion in new writedowns for Swiss bank UBS rattled investors.
China has rewritten both the theory and history of economic development. In just 30 years, it has gone from the brink of economic collapse to the cusp of a newfound prosperity.
Hong Kong stocks fell 1.88 percent yesterday to post their worst quarterly performance in more than six years, as investors took to the sidelines on lingering concerns about the global credit crunch.
Canon faces uncertainties this year despite sales of $1 billion in 2007, up 30 percent on the previous year.
Hutchison Whampoa Ltd posted a 50 percent gain in second-half profit as losses from high-speed phone services shrank and earnings from energy and ports increased.
Chinese consumers prefer local brands to foreign ones, with domestic products the top choice in 39 of 57 categories, or 68 percent, in a recent survey.
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Raymond Zhou
Op Rana
Berlin Fang
Zhu Yuan
Huang Xiangyang
Chen Weihua
