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Family of Asia's richest man sells $928 mn Beijing property

A company controlled by the family of Asia's richest man Li Ka-shing has sold a landmark Beijing property for more than $900 million, it said, adding to speculation he is cashing out of Chinese property. Pacific Century Premium Developments -- a firm chaired by Richard Li, the tycoon's younger son -- signed an agreement Tuesday to sell Pacific Century Place for $928 million, the firm said in a statement filed with the Hong Kong stock exchange.

Chinese pork firm $5.3 bn IPO set to be the biggest in a year

Chinese pork producer WH Group hopes to raise more than $5 billion in what would be the world's biggest initial public offering for a year as it plans to list in Hong Kong, giving a boost to the city's IPO market. The company -- which last year bought US giant Smithfield Foods in a landmark multi-billion-dollar deal -- will sell 3.66 billion shares at an indicative price range of HK$8.00-HK$11.25 each.

Chinese pork firm $5.3 bn IPO set to be the biggest in a year

Chinese pork producer WH Group hopes to raise more than $5 billion in what would be the world's biggest initial public offering for a year as it plans to list in Hong Kong, giving a boost to the city's IPO market. The company -- which last year bought US giant Smithfield Foods in a landmark multi-billion-dollar deal -- will sell 3.66 billion shares at an indicative price range of HK$8.00-HK$11.25 each.

Top Hong Kong businessman sells $928 mn Beijing property

A company led by top Hong Kong businessman Richard Li said it has sold a landmark Beijing property for more than $900 million, fuelling speculation about the motive for Chinese property sales by his family. Pacific Century Premium Developments (PCPD) -- a firm chaired by Li, the younger son of Asia's richest man Li Ka-shing -- signed an agreement Tuesday to sell Pacific Century Place for $928 million, the firm said in a statement filed with the Hong Kong stock exchange.

Hong Kong, Shanghai to begin cross-market trading

China Thursday unveiled a plan allowing cross-trading between Hong Kong and Shanghai's stock markets, in the mainland's latest move to open up its capital markets and promote the yuan as an international currency. The China Securities Regulatory Commission said in a joint statement with the Securities and Futures Commission of Hong Kong the trial would begin in six months and enable dealers to invest in designated shares.

Shanghai, H.K. bourses to connect: Premier Li

Chinese Premier Li Keqiang said Thursday that stock markets in Shanghai and Hong Kong will test-run a connectivity scheme to boost the opening up of the mainland's capital market. The scheme, called Shanghai-Hong Kong Stock Connect, will start running in about six months, at which time investors in the two cities can invest in each other's stock market with a total cap of 550 billion yuan ($89.5 billion), Hong Kong's Cable TV said.

China to permit cross-border stock trading between Shanghai, Hong Kong exchanges

HONG KONG - China unveiled a plan Thursday to give foreign investors greater access to its stock market by allowing investors in Shanghai and Hong Kong to trade shares on each other's exchanges. Securities regulators in China and the semiautonomous Chinese territory of Hong Kong said that the stock exchanges in both cities would be connected in a pilot program.

Hong Kong. Shanghai to begin cross-market trading

China has unveiled a plan Thursday allowing cross-market trading between Hong Kong and Shanghai in the latest move by mainland leaders to open up the country's capital markets and promote the yuan as an international unit. The China Securities Regulatory Commission said in a joint statement with the Securities & Futures Commission of Hong Kong the trial will begin within six months and include enable dealers to invest in designated shares.

Hong Kong. Shanghai to begin cross-market trading

China unveiled a plan Thursday allowing cross-trading between Hong Kong and Shanghai's stock markets in the latest move by mainland leaders to open up the country's capital markets and promote the yuan as an international unit. The China Securities Regulatory Commission said in a joint statement with the Securities & Futures Commission of Hong Kong the trial will begin within six months and enable dealers to invest in designated shares.

Hong Kong shares close up 1.51%

Hong Kong and Shanghai shares rallied on Thursday as dealers welcomed plans to link the two cities' bourses and allow cross-market investments. The news overshadowed another disappointing set of trade data out of China that added to concerns about the world's second biggest economy. In Hong Kong the benchmark Hang Seng Index rose 1.51 percent, or 343.79 points, to 23,186.96 on turnover of HK$106.91 billion (US$13.79 billion).
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