Short-sales ban on blue chips lifted
Article Abstract:
The Hong Kong Stock Exchange has lifted its ban on short-sales of HSBC Holdings, Hongkong Telecom and China Telecom. The short-sales activities on the three blue chips will not fierce as last week after the lift as the exchange also introduced tick rules. Under the rules, short-sales must be made at price not less than the best current asking price. But stock options market makers who allowed in short-sales activities are exempted from the rules. *
Comment:
Hong Kong Stock Exchange lifts its ban on short-sales of company, HSBC Holdings and China Telecom
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Bank gets ready for HK listing
Article Abstract:
Krinein, an off-shore company registered in the Cayman Islands plans to sell a 20% stake in Shanghai Commercial Bank to a third party. The company now holds a 32% stake in the bank. The sale of the bank's equity is regard as a preparation for the bank's listing on the Stock Exchange of Hong Kong. However, the date for the bank's initial public offering is not expected to take place until market sentiment improves. *
Comment:
To sell a 20% stake in Shanghai Commercial Bank to a third party which it now holds a 32% stake
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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BOC chief denies talks on job losses, merger
Article Abstract:
The Bank of China Group denied rumours of laying off at least 1,000 staff and a salary cut for middle management. It had 18,802 employees at the end of June 1998. It also had no plan to merge some of its 12 bank members or close down some of its branches. However, the pace of opening new branches will slow down. The group will consider acquiring more banks depending on its needs. *
Comment:
Denies rumors of laying off at least 1,000 staff and salary cut for middle management
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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