Hong Kong

Hong Kong shares dive 5 per cent in first hours of Thursday trade

Hong Kong MarketsHong Kong - Hong Kong shares fell by more than 5 per cent in the first hour of trading Thursday in one of the city's worst financial weeks on record.

The Hang Seng Index, which had already lost 5.4 per cent of its value Tuesday and another 3.63 per cent Wednesday, was down by 895 points or 5.04 per cent at 11 am Thursday.

The index, shaken by the news coming out of the US since the collapse of Lehman Brothers, has now lost nearly 3,000 points since the beginning of the week. Monday was a public holiday in Hong Kong.

Hong Kong shares fall to new lows on global economic woes

Hong Kong shares fall to new lows on global economic woes Hong Kong - Hong Kong shares fell 3.63 per cent Wednesday as the fallout from the turmoil in the US banking sector continued to depress the market.

The Hang Seng Index, which dropped 5.4 per cent Tuesday, fell another 663.42 points to close Wednesday at 17,637.19. Turnover was 76.23 billion Hong Kong dollars 
(9.79 billion US dollars).

The index - which only 11 months ago hit a high of almost 32,000 - rose slightly in early trading as news broke of the US government bailout of the insurance giant American International Group Inc.

Hong Kong shares open 6.1 per cent lower on Lehman collapse

Hong Kong shares open 6.1 per cent lower on Lehman collapseHong Kong - Hong Kong share prices plunged 6.1 per cent at the opening of trading Tuesday as the collapse of US investment bank Lehman Brothers sent global markets into freefall.

By 10:30 am the Hang Seng Index was down 6.4 per cent at 18,098 - almost 14,000 lower than its peak of just below 32,000 points in late October last year.

Earlier Tuesday, Hong Kong financial secretary John Tsang urged the public not to panic after 158-year-old Lehman Brothers filed for bankruptcy in the United States.

Cheats and fraudsters prosper in Hong Kong's "amoral" schools

Cheats and fraudsters prosper in Hong Kong's "amoral" schools Hong Kong - One in four Hong Kong students are prepared to forge their parents' signatures on report cards and one in six are happy to cheat in exams, a survey found Tuesday.

The survey of more than 3,000 primary and secondary school pupils found that 65 per cent of students would not report cheating in exams to teachers even if they witnessed it.

Tourists snub Hong Kong during Olympics, airport figures show

Tourists snub Hong Kong during Olympics, airport figures show Hong Kong - Passenger numbers at Hong Kong's international airport fell by more than 5 per cent in August when the city staged the Olympics equestrian events, figures showed Monday.

Statistics from the former British colony's Airport Authority showed passenger volume for the month was down 5.3 per cent compared to August 2007 at 4.2 million people.

The fall came as Hong Kong staged the equestrian games of the 2008 Beijing Olympics, which many hoteliers believe kept people away from the city of 6.9 million.

Seven people suffer burns at Hong Kong moon festival parties

Hong KongHong Kong  - Seven people have been treated in hospital for burns suffered during Hong Kong's Mid-Autumn Festival celebrations, police said Monday.

A 16-year-old boy and an 11-year-old boy were still in hospital while five other patients aged five to 53 were treated and discharged, a police spokesman said.

People across the city of 6.9 million joined in outdoor parties where children burned candles and lanterns and watched the full moon Sunday evening.

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