Hong Kong - Hong Kong shares slipped 2.4 per cent Wednesday with losses in property company and China banking stocks helping to drag the Hang Seng Index below 20,000.

The index lost 491.33 points to finish the day at 19,999.78, pulling it back to the sub-20,000 level, which it ended last week on for the first time in 17 months.

The combined losses of Tuesday and Wednesday all but wiped out Monday's rebound of more than 4 per cent prompted by the US mortgage bailout.

Hong Kong - Managers in Hong Kong enjoy the highest spending power in Asia and the highest among bosses worldwide outside the Middle East, a survey released Wednesday found.

Hong Kong came in fourth overall while in other Asian countries, bosses in Thailand ranked 10th in global spending power, followed by those in China at 17th, Singapore at 
22nd, Malaysia at 24th, South Korea at 35th and Japan at 39th.

The annual World Pay Report by recruitment specialists the Hay Group surveyed the spending power of bosses in 51 markets worldwide and found US managers ranked 
41st.

Hong Kong - The head of Hong Kong's flagship airline Cathay Pacific Tuesday warned of the need for cost-cutting as the effects of high fuel prices and global recession take their toll on profits.

Tony Tyler, the airline's chief executive, indicated in a letter to staff that further cost-cutting measures may be necessary as the US and Britain may be "heading towards recession."

"These are extremely difficult times for the aviation industry and I'm sorry to say there doesn't appear to be any light at the end of the tunnel just yet.

Hong Kong/Mumbai, Sept. 8 : Firstsource, one of India’s leading business-process outsourcing companies, has put one of its stakes up for sale.

Hong Kong - Hong Kong shares rocketed up by nearly 4 per cent in early trading Monday as the US mortgage bailout generated global optimism that the credit crunch might be over.

Shortly after midday, the Hang Seng Index stood at 20,701.13, up 767.85 points, or 3.85 per cent. Turnover was 36 billion Hong Kong dollars (4.6 billion US dollars).

The surge in prices followed a black week on the Hong Kong stock market, which saw shares tumble below 20,000 for the first time in 17 months.

Hong Kong - Pro-democracy candidates won 24 seats in Hong Kong's legislative council election, defying predictions they would be swept aside by China-friendly parties, results showed Monday.

The opposition candidates secured just one less seat than they did in the previous 2004 elections, maintaining their veto power on constitutional change in the 60-seat legislature.