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  • Cryptocurrency revolution

    Southeast Asians get to grips with bitcoin

    TOKYO -- Bitcoin-based financial services, such as low-cost overseas remittances for foreign workers, are increasingly common in Southeast Asia. New services allow users to receive cash without having to deal with the technical aspects of the cr

    April 18, 2015 01:00 pm JST
  • Chow Tai Fook

    Jewelry retailer's sales down 16% as Chinese visitors drop

    HONG KONG -- Chow Tai Fook Jewellery Group, Hong Kong's largest jewelry retailer, saw its same store sales drop 16% in the January-March quarter amid the falling number of customers from mainland China, the company said Wednesday. In particular,

    April 17, 2015 08:00 pm JST
  • Galaxy Entertainment Group

    Macau casino operator Q1 profit down 40% as VIP customers drop

    HONG KONG -- Macau-based Galaxy Entertainment Group, one of Asia's leading operators of casinos and resort facilities, announced Thursday that its earnings before interest, tax, depreciation and amortization (EBITDA) dropped 40% year on year to 2.3

    April 16, 2015 07:00 pm JST
  • Consolidating health care ops

    Alibaba to transfer pharmacy business to Hong Kong-traded unit

    SHANGHAI -- Chinese e-commerce giant Alibaba Group Holding announced Wednesday that it will move its online pharmacy business to a Hong Kong-listed subsidiary to bring its health care operations under one roof. There are currently 186 vendors on

    April 16, 2015 05:27 am JST
  • Mainland investors fill up 'ghost train' to Hong Kong

    HONG KONG -- Hong Kong stocks have been rising sharply recently, with the benchmark Hang Seng Index topping the 28,000 mark for the first time in more than seven years on April 13. One of the catalysts for the bull market is a trading link between t

    April 16, 2015 12:00 am JST
  • Asia markets

    Hong Kong investors still hot for Shanghai stocks

    HONG KONG -- Investors here seem as bullish as ever about mainland shares. The Shanghai Composite Index rose for a third straight session Tuesday, hitting a new year-to-date high even as the world waited for a report on first-quarter Chinese eco

    April 15, 2015 01:18 am JST
  • Asian media

    HKTV offers HK$5 million a month to rival ATV to air its shows

    HONG KONG -- Hong Kong Television Network (HKTV) announced Monday that it had offered to pay 5 million Hong Kong dollars ($645,000) a month to troubled Asia Television (ATV) for the right to broadcast its programs on ATV's channels. According t

    April 14, 2015 08:15 pm JST
  • End of bull run?

    Early supporters of Tokyo stock upturn cashing out

    TOKYO -- While latecomers to the Tokyo stock market continue to snap up Japanese shares, those who hopped on the bandwagon early have begun unloading the equities, raising concern that the influx of foreign money may end. The Nikkei Stock Averag

    April 14, 2015 04:36 am JST
  • Bargain-hunting

    Stock traders moving money from mainland China to Hong Kong

    HONG KONG -- Money is steadily flowing into Hong Kong stocks from mainland China as investors race to snap up undervalued issues. The benchmark Hang Seng Composite Index advanced for an eighth straight trading day Monday, reaching the 28,000 mar

    April 13, 2015 11:39 pm JST
  • Shipments to Asia rising

    Yamato Transport keeps cool, delighting Japan's food exporters

    TOKYO -- Yamato Transport's international door-to-door deliveries of frozen and refrigerated parcels are giving a lift to Japan's exports of fresh foods. Strawberries grown in Kumamoto Prefecture, for instance, are delivered by the Japanese comp

    April 13, 2015 07:00 pm JST
  • Xi's corruption crackdown

    Macau luxury jewelry show cancelled

    HONG KONG -- An exhibition of luxury jewelry and watches scheduled for next month in Macau has been cancelled because of China's anti-corruption crackdown, its organizer has announced. Macau has seen the number of wealthy customers visiting its

    April 10, 2015 06:36 pm JST
  • Hong Kong-Shanghai bourse link

    As mainland investment rises in Hong Kong, 'ghost train' fills up

    HONG KONG -- Hong Kong stocks are rising sharply in heavy trade recently, thanks in part to a link between the Hong Kong and Shanghai exchanges. Once derided as a "ghost train" due to a lack of transactions, the link forged last fall between the

    April 10, 2015 01:30 pm JST
  • Chinese equities

    Lianhua Supermarket surges 50% on possible tie-up

    HONG KONG -- Shanghai-based Lianhua Supermarket Holdings jumped Thursday on the Hong Kong market after a major shareholder revealed plans to sell a stake to a rival supermarket operator. The stock rose about 50% at one point to a two-year high.

    April 10, 2015 12:21 am JST
  • Subsidiary's shares jump

    Alibaba to inject assets into ailing entertainment unit

    HONG KONG -- Chinese e-commerce company Alibaba Group plans to put its media and entertainment businesses under the umbrella of Hong Kong-listed Alibaba Pictures, the latter said Wednesday. Alibaba indicated the asset transfer may include its on

    April 9, 2015 07:49 pm JST
  • Logistics

    Okinawa air cargo hub harks back to ancient trading roots

    NAHA, Japan -- Once upon a time, Okinawa was an independent kingdom that made its living as an entrepot, sending goods to and fro around southern and eastern Asia. Now many Japanese companies are rediscovering the island prefecture's importance and

    April 9, 2015 07:00 pm JST
  • Chasing laggards

    Mainland Chinese investors show appetite for H-shares

    HONG KONG -- The stock market here has gained momentum after lagging behind mainland China for some time, with investors snapping up H-shares, or the stocks of mainland companies listed in Hong Kong. On Wednesday, after investors returned from t

    April 9, 2015 02:00 am JST
  • Lights out for Greater China's oldest TV station, ATV

    HONG KONG -- Greater China's oldest TV station will sign off for good within a year. The Hong Kong government decided not to renew the free-to-air broadcasting license for Asia Television, a station in chronic financial straits that has struggled ev

    April 9, 2015 12:00 am JST
  • Border malls aim to ease burdens on Hong Kong shoppers

    HONG KONG -- Mainland shoppers who flock to Hong Kong and buy goods for resale at home have become so overwhelming for some locals that there are plans to build malls near the crossing point with Shenzhen, Guangdong Province. The rapidly increas

    April 9, 2015 12:00 am JST
  • Filling the coffers

    No company is eager to pay tax. But Asian countries have a growing need to build infrastructure, expand social services and address budget imbalances. Governments are therefore keen to increase their tax revenues. Part of this effort involves wideni

    April 9, 2015 12:00 am JST
  • A $909M foothold

    Dairy Farm buys 20% stake in Chinese supermarket

    HONG KONG -- Dairy Farm International Holdings, a leading pan-Asian retailer, has acquired a 19.99% stake in Yonghui Superstores, a Shanghai-listed supermarket, for 5.69 billion yuan ($909 million). Dairy Farm hopes the deal, announced Tuesday,

    April 8, 2015 07:45 pm JST