Chinese solar manufacturers rallied in New York, led by Suntech Power Holdings Co., on a report that billionaire Warren Buffett may be interested in buying the company forced into bankruptcy after defaulting on debt.
The Hong Kong government may unveil a plan to resume the construction of subsidized housing after property prices in the city surged, the Hong Kong Economic Times reported, citing people it didn’t identify. Chief Executive Donald Tsang may disclose details of the plan to resume the program known as Home Ownership Scheme in his policy address to the legislature, according to the report.
Chu Kin-lan has already shuttered six of 11 offices of her Hong Kong real estate agency, whose Chinese name translates as Precious Prosperity, and let go half of her 70 employees amid the city’s toughest curbs on home buying in its history. The worst pain may be still to come.
The Hong Kong government will allow buyers of subsidized housing to obtain mortgages equal to as much as 95 percent of the price of the properties, the Hong Kong Economic Times reported, citing people it didn’t identify.
Hong Kong stocks gained for a second day as oil-related shares increased after China raised gasoline and diesel prices, and U.S. retail sales jumped last week, fueling optimism the economic recovery is on track.