Hong Kong - Hong Kong shares fell by almost 5 per cent Wednesday as a rebound triggered by optimism over the global bank bail-outs began to fizzle out.

The Hang Seng Index lost 834.58 points, or 4.96 per cent, to end the day back below the 16,000 barrier at 15,998.3. Turnover was 52 billion Hong Kong dollars (6.7 billion US dollars).

The heavy losses ended two consecutive days of gains on the blue-chip index which rallied by 3 per cent Tuesday and more than 10 per cent Monday.

Analysts warned ahead of Wednesday's losses that the apparently bright start to the week amounted to a technical rebound only and that a prolonged rally was unlikely.

Hong Kong - Hong Kong leader Donald Tsang had bananas hurled at him as he delivered a policy speech Wednesday in a protest over the government's treatment of poor elderly people.

Three legislators with the pro-democracy League of Social Democrats were ejected from the city's Legislative Council as they shouted abuse and threw bananas during Tsang's annual policy address.

None of the bananas hit the chief executive, who looked stunned at the protest over the government's alleged lack of support for elderly people struggling to cope with rising food prices.

Hong Kong - Hong Kong shares fell by almost 5 per cent Wednesday as a rebound triggered by optimism over the global bank bail-outs began to fizzle out.

The Hang Seng Index lost 834.58 points, or 4.96 per cent, to end the day back below the 16,000 barrier at 15,998.3. Turnover was 52 billion Hong Kong dollars (6.7 billion US dollars).

The heavy losses ended two consecutive days of gains on the blue-chip index which rallied by 3 per cent Tuesday and more than 10 per cent Monday.

Analysts warned ahead of Wednesday's losses that the apparently bright start to the week amounted to a technical rebound only and that a prolonged rally was unlikely.

Hong Kong - Hong Kong's leader Wednesday announced the setting up of a task force to monitor the impact of the global economic crisis and find ways to tackle it.

Chief Executive Donald Tsang said the body, which he will chair, will comprise top government officials along with financial experts, economists and representatives of major industries.

Hong Kong - Hong Kong leader Donald Tsang on Wednesday bowed to public pressure to introduce a minimum wage for workers in the wealthy city of 6.9 million.

The rich-poor divide has widened sharply in recent years, and hundreds of people took part in a march this month demanding a minimum wage of 33 Hong Kong dollars (4.25 US dollars) per hour.

In his annual policy address Wednesday, Chief Executive Tsang admitted that a voluntary minimum wage for cleaners and security guards introduced two years ago had been a failure.

Hong Kong - It is home to some of Asia's wealthiest and most successful people - a city where tycoons, celebrities and high-fliers live in sumptuous surroundings in some of the world's costliest properties.

A pad on Hong Kong's exclusive Peak will cost you in excess of 7,000 US dollars per square foot (75,000 US dollars per square metre) - more than in New York or London - and a down payment on a shoebox-sized studio flat will set you back as much as a town house in other world cities.