Hong Kong Exchanges & Clearing Ltd. surged the most in five years after a deal to link Shanghai and Hong Kong markets that gives Chinese investors unprecedented access to Macau casino stocks and Tencent Holdings Ltd.
Chinese investors will get unprecedented access to Macau casino stocks and Tencent Holdings Ltd. through an agreement to link Shanghai and Hong Kong markets that analysts say will shrink valuation gaps.
Hundreds of protesters in Hong Kong marched to the city’s government headquarters, demanding Secretary for Development Paul Chan resign for alleged conflict of interest related to a housing project, Radio Television Hong Kong reported.
Hong Kong’s five-week old government was rocked by its third controversy involving senior officials, as Secretary for Development Paul Chan acknowledged he knew about the sub-renting of a unit owned by a company in which he was a director.
Hong Kong’s government will sell land and build public housing for 60,700 new homes in the city’s northeast area as part of its plan to help curb property prices in the world’s most-expensive housing market.
Hong Kong’s government plans in the first quarter to sell 12 land sites that can accommodate 5,500 homes, as it seeks to raise housing supply to help curb home prices that have more than doubled since early 2009.
Hong Kong’s government will sell six residential sites next quarter that can provide about 3,000 apartments, as it seeks to raise new housing supply to help cool the world’s most expensive home market.