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Hutchison Whampoa net profit up by 20%

Hong Kong billionaire Li Ka-shing's Hutchison Whampoa conglomerate said Friday its net profit for 2013 was up 20 percent from the previous year, despite challenging global markets. The blue-chip group said net profit was HK$31.11 billion ($4.01 billion) for the year ended December 31, 2013, compared to HK$25.89 billion in 2012. Profits were fuelled by growth in areas including its port, hotel and property divisions, the company said in a statement filed to the Hong Kong stock exchange.

Hong Kong stocks down 0.30% by break

Hong Kong stocks fell 0.30 percent on profit-taking in the morning session Friday following two straight sessions of healthy gains. The benchmark Hang Seng Index eased 67.37 points to 22,760.81 by lunch on turnover of HK$38.00 billion ($4.90 billion). dan/mtp

Hong Kong stocks 0.50% higher at open

Hong Kong stocks opened 0.50 percent higher on Friday, a third straight gain, after Federal Reserve head Janet Yellen's broadly positive outlook for the US economy. The benchmark Hang Seng Index added 114.78 points to 22,942.96 in early exchanges. dan/mtp

Hong Kong property tycoons bank on middle class to weather tough times

By Yimou Lee HONG KONG (Reuters) - When things get choppy at the top of the property ladder, it pays to have your feet planted on the middle rungs, which makes developers Cheung Kong (Holdings) <0001.HK> and Sun Hung Kai Properties <0016.HK> the best bets to weather the storm brewing in Hong Kong. These powerful property developers are targeting middle-class, first-time buyers who are exempt from the impact of government cooling measures at a time when secondary home transactions are hovering at a 17-year low.

Hong Kong property tycoons bank on middle class to weather tough times

By Yimou Lee HONG KONG (Reuters) - When things get choppy at the top of the property ladder, it pays to have your feet planted on the middle rungs, which makes developers Cheung Kong (Holdings) <0001.HK> and Sun Hung Kai Properties <0016.HK> the best bets to weather the storm brewing in Hong Kong. These powerful property developers are targeting middle-class, first-time buyers who are exempt from the impact of government cooling measures at a time when secondary home transactions are hovering at a 17-year low.

Hong Kong stocks end 1.74% higher

Hong Kong shares jumped 1.74 percent on Thursday, adding to the previous day's advance following a positive lead from Wall Street. The benchmark Hang Seng Index added 390.74 points to end at 22,828.18 on turnover of HK$73.19 billion (US$9.44 billion). Chinese shares ended 0.30 percent higher. The benchmark Shanghai Composite Index rose 6.10 points to 2,047.35 on turnover of 112.9 billion yuan ($18.4 billion).

China's major banks have not tightened lending in property sector: Xinhua

SHANGHAI (Reuters) - China's major lenders have not tightened or halted their property-related lending business, the official Xinhua news agency said, after local media reported that some banks had stopped lending to real estate developers. Chinese media, including the official Shanghai Securities News, have reported that some lenders such as Industrial Bank Co Ltd <601166.SS> had stopped lending to developers, fuelling concerns over a cooling property market.

Hong Kong stocks open 0.13% higher

Hong Kong shares rose 0.13 percent in the first few minutes of trade on Thursday, adding to the previous day's gains, following a positive lead from Wall Street. The benchmark Hang Seng Index added 28.52 points to 22,465.96 in early exchanges. dan/pj

Hong Kong stocks open flat

Hong Kong shares began trading flat on Wednesday following a tepid lead from Wall Street in response to data showing US consumer confidence weakened in February. The benchmark Hang Seng Index dipped 19.58 points to 22,297.62 in early exchanges. dan/pj

Hong Kong stocks open 0.49% higher

Hong Kong shares rose 0.49 percent at the open of trade Tuesday following a positive lead from Wall Street. The benchmark Hang Seng Index added 109.86 points to 22,498.42 in early exchanges. dan/ac
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