SFC mulls canceling of investment-product buys

The Securities & Futures Commission (SFC) will consider whether investment-products sales contracts should contain a "cooling-off period" during which investors may unconditionally terminate the contracts.

The commission will also study the feasibility, merits and shortcomings of implementing the proposal with regard to different investment products.

Some market observers applauded the SFC initiative, saying it can bring win-win results for both investors and intermediaries.

Meanwhile, the monetary authority has told Lehman Brothers mini-bond resellers to release information about collaterals to investors.

Problems may close four markets after FEHD review

The Food & Environmental Hygiene Department (FEHD) said yesterday that its recent consultation with residents revealed that four markets have problems staying operational and may have to be shut down, but it will not do so before further study warrants it.

In a document presented to the Legislative Council, the FEHD says the four markets are located in Central, Mong Kok, Tuen Mun and Wan Chai, and two of them were deemed obsolete by respective district councils, which hope the government will close them soon. The other two markets are still considered by local councils as useful to the surrounding communities and worth keeping.

Man, 72, sprays corrosive liquid on welfare workers

A 72-year-old man was arrested yesterday for premeditated assault after he tossed corrosive liquid on two Social Welfare Department (SWD) employees because of a disagreement over his monthly allowance. The two victims were sent to a hospital for minor injuries.

The old man reportedly went to SWD's Aberdeen office yesterday morning to inquire about a matter concerning his monthly allowance, and he got into a heated argument with them. He then took out a bottle and started spraying some kind of corrosive chemical at them.

The police's Serious Crime Division is now investigating the case.

HK ultraviolet readings now available online

The Hong Kong Observatory has launched the Community Ultraviolet Information Network, which allows the public to see UV readings online from across the city.

The service was jointly launched yesterday by the observatory, the Polytechnic University and the Joint-school Meteorological Association following their launch of the Community Weather Information Network last year.

Observatory Director Lam Chiu-ying said that since the launch of the UV index recorded at King's Park Meteorological Station, people have shown great interest in UV information.

China Daily

(HK Edition 11/06/2008 page1)