Genesis awaits new beginning amid Hong Kong's slump
Article Abstract:
Hong Kong property investor Wong Kwon's 1997 purchase of Genesis for $70 million is discussed. Immediately after purchase, the Hong Kong property market collapsed and Kwon is now having trouble paying his bills. He is looking for a buyer of the property, a mansion overlooking the city.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2001
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Analyst sees property gloom
Article Abstract:
Analyst Michael Green believes the office and residential markets of Hong Kong are saturated with excess supply, which is bad news for the city's economy. This is because many of Hong Kong's conglomerates have significant exposure in the property sector. In addition, the Hang Seng Index is predominated by property issues. Green, once a diehard believer in Hong Kong's property market, shares the belief that the sector's golden days are over. Moreover, he said that Hong Kong's economy is slowing down, owing to structural changes taking place in the city.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Hang Seng Index revamp? Investors say it poorly reflects Hong Kong's economy
Article Abstract:
Many fund managers and securities analysts believe that the Hang Seng Index no longer accurately reflects the Hong Kong economy. The major concern is that the index is overrepresentative of property-related firms whose market capitalization and trading volume have diminished. The overall economy, meanwhile, is more focused on technology and China.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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