Page 7 - New World Development News Today

The Hong Kong stock market has moved lower in back-to-back sessions, dropping almost 280 points or 1.7 percent along the way. The Hang Seng Index now sits just above the 16,510-point plateau although it's due for support on Friday.

New World Development has agreed to sell its shopping centre and parking spaces in Tsuen Wan to Chinachem Group for US$510 million, speeding up asset sales to trim its financing costs.

The Hong Kong stock market headed south again on Wednesday, one day after ending the two-day slide in which it had slumped more than 100 points or 0.6 percent. The Hang Seng Index now sits just above the 16,530-point plateau and it's looking at another soft start again on Thursday.

NWD plans to launch 2,500 units ahead of schedule to capture the improved sentiment unleashed by the withdrawal of all property curbs in Hong Kong after posting a profit decline for the six months ending on December 31.

House prices have been dropping for nine months in a row and share prices have been low as changes to freedoms in the former British colony have worried investors

The Hong Kong stock market on Tuesday ended the two-day slide in which it had slumped more than 100 points or 0.6 percent. The Hang Seng Index now sits just above the 16,790-point plateau although it may hand back some of those gains on Wednesday.

(Bloomberg) -- Hong Kong’s government is removing cooling measures on housing to boost the lackluster market and will provide additional funds to support tourism as part of a sweeping plan to revive growth in the financial hub. Most Read from BloombergApple to Wind Down Electric Car Effort After Decadelong OdysseyHow Much Wealth You Need to Join the Richest 1% Around the WorldOffice Tower Deal for $1 Reveals Anxiety Among Longtime BuyersA Spike in Heart Disease Deaths Since Covid Is Puzzl...

Hong Kong’s government has lifted curbs on property deals after home prices fell to a seven-year low, adding to the Chinese territory's woes. Finance minister Paul Chan announced the move in a speech presenting the territory’s budget, which also raised spending on tourism promotion. Meanwhile, Hong Kong’s tourism has not fully rebounded after it reopened to foreign travelers following the COVID-19 pandemic.

Hong Kong’s government has lifted curbs on property deals after home prices fell to a seven-year low, adding to the Chinese territory’s woes.

By Jiahui Huang Hong Kong has removed several housing-market curbs that have been in place for over a decade as it bids to revitalize the sector, part of efforts to cement a broader recovery...