ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Nikkei Markets

HONG KONG PRESS: News Headlines On Monday, November 27

By Hong Kong Newsroom
Nikkei Markets
HONG KONG (Nov 27) -- Here's a roundup of local news:

*Blast Kills Two, Wrecks Buildings at Busy Chinese Port City

An explosion killed two people and injured at least 30 others as it knocked down buildings and left streets littered with damaged cars and debris in a port city south of Shanghai, the government and news reports said. The early Sunday morning explosion struck a riverfront neighborhood in Ningbo, one of China's busiest ports, China's official Xinhua News Agency and other outlets reported. Xinhua said it happened at a factory. A police statement said the cause was under investigation. Two people were killed and two more seriously injured, the district office announced on its social media account. It gave no details of the deaths. - The Wall Street Journal

*Hong Kong's Securities and Futures Commission to consider active exchange-traded funds

The Securities and Futures Commission is considering a consultation on allowing active exchange-traded funds to be listed on the Hong Kong stock exchange, when it reviews the Code on Unit Trusts and Mutual Funds towards the end of the year, sources said. Unlike passive ETFs, active ETFs allow asset managers to make decisions on the underlying portfolio allocation for extra returns. This combines portfolio management with the benefits of a low-cost and highly transparent exchange-traded structure. - South China Morning Post

*Hong Kong's House Prices Could Soar Another 10% Next Year

Hong Kong's red-hot housing market shows no signs of cooling anytime soon. Prices in the city have climbed 11 percent this year, defying skeptics waiting for the bubble to burst and government attempts to rein in the world's most expensive housing market through a raft of taxes and mortgage curbs. If anything, the frenzy has intensified in recent months as investors have poured money into property. Buyers have set new records for everything from luxury homes in the exclusive Peak neighborhood to undeveloped residential land. There have also been blockbuster deals for commercial property in the heart of Hong Kong's central district. - Bloomberg News

*Pure Yoga and Pure Fitness owner said to near sale to Chinese buyer

A Chinese private equity firm is in advanced talks to buy control of Pure Group, which operates Pure Yoga and Pure Fitness centers in Singapore, Hong Kong, Shanghai, Taipei and New York, people with knowledge of the matter said. A deal would value the billionaire-backed Hong Kong-headquartered gym chain at more than US$400 million. The Chinese firm, FountainVest Partners, is holding late-stage negotiations with Pure Group owners including buyout firm Leonard Green & Partners and businessman Bruce Rockowitz, according to the people. Other potential buyers including Primavera Capital still remain around the process, the people said, asking not to be identified as the information is private. - Bloomberg News

*HNA Obscured Ownership Stakes in Gategroup Deal, Swiss Regulator Says

Chinese conglomerate HNA Group Co. supplied false information and failed to disclose key ownership stakes of some of its executives while acquiring a company last year, a Swiss regulator found. The regulator, the Swiss Takeover Board, said Friday that HNA, which has been facing increasing scrutiny from regulators in the U.S. and China, last year gave incorrect information about two of its own stakeholders in its offer prospectus for its $1.5 billion deal to acquire Swiss air-travel logistics company Gategroup Holding AG. The board said HNA inaccurately represented the ownership stake held by Beijing resident Guan Jun, as well as that of Bharat Bhise, chief executive of Hong Kong-based private-equity and investment advisory firm Bravia Capital. - The Wall Street Journal

*'Black Swan' alert out

Watch out for investment risks in the current bullish market amid positive outlook of the global economy, Financial Secretary Paul Chan Mo-po said on his blog. Chan said as the global financial market has experienced various crises over the past few decades, investors should always be aware of "Black Swan" events. With about US$130 billion (HK$1.014 trillion) of capital inflow to the SAR market since the 2008 credit crunch, the current optimistic expectation of rising asset prices has made investors less alert of potential risks, he said. - The Standard
- By Hong Kong Newsroom;; +852 3960 5102
- Edited by Glen Nicol Perkinson
- Send Feedback to
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media