HK Edges Japan As World’s 3rd Largest Stock Market

April 10, 2019

NewsStandOnline.Net (10-April-2019): Bragging rights to Hong Kong, for now.  The city’s equity market has overtaken Japan to be the world’s third-largest in value, behind only the US and mainland China, courtesy a rebound in Hong Kong stocks after their worst year since 2011.

Hong Kong’s market cap was $5.78 trillion as of last night, the latest available data show, compared with $5.76 trillion for Japan. The Asian city’s benchmark Hang Seng Index climbed 17 per cent this year through to yesterday, when it closed at its highest since June 15.

HK Edges Japan As World's 3rd Largest Stock Market

Internet giant Tencent Holdings has been the main driver with a 22 per cent gain. Japan’s Topix Index advanced 8.3 per cent during that period.

Both markets were lower this morning as an economic outlook from the International Monetary Fund renewed concerns about a slowdown in global growth and after the US threatened tariffs on the European Union.

The Hang Seng Index fell 0.3 per cent as of 11:38 a.m. in Hong Kong, still just above the 30,000-point level that it broke through earlier this month. The Topix was down 0.7 per cent.

Leung Clashes Again With Sandwich-Hurling Critic

April 9, 2019

NewsStandOnline.Net (9-April-2019: Avery Ng Man-yuen, the League of Social Democrats chairman who got jailed for throwing a tuna sandwich at former chief executive Leung Chun-ying, had another confrontation with his favorite nemesis yesterday, only this time they just exchanged verbal fire without getting physical.

The latest feud began after Leung, in a series of Facebook posts, revealed that he was monitoring full-page commercial ads put on the pro-democracy newspaper Apple Daily.

After learning about Leung’s latest preoccupation, Ng announced that he would raise money through crowdfunding to take out a full-page on Apple Daily for the purpose of ridiculing the former chief executive.

Having been able to raise enough funds online, Ng did have a full front-page ad on Apple Daily on Monday. The headline of the ad, in simplified Chinese, reads: “Support Leung Chun-ying to become president. Head northward as soon as possible to replace Xi.”

The ad says it was sponsored by a company, whose name, when literally translated from traditional Chinese, reads “Hongkongers’ Patience Limited”.

In his own Facebook post, Ng said he had raised more than HK$160,000 in just 42 hours. He stressed that the ad was not meant to put up any kind of protest or to form an organization, but rather to unite the people and create an opportunity for Hongkongers to vent their anger.

Leung Clashes Again With Sandwich-Hurling Critic

In response to the ad, Leung, who is currently a vice chairman of the National Committee of the Chinese People’s Political Consultative Conference, China’s top political advisory body, said on his Facebook page – in a sarcastic tone, of course – that he would like to thank Ng for helping publicize his move to monitor Apple Daily’s commercial ads.

Leung said there have been many instances in Western countries where advertisers stop placing ads on a media outlet as a way of protesting its editorial policies. He also pointed out that freedom of the press and freedom of expression are not absolute rights and that a company must always be aware of its social responsibility.  Leung also called on Ng to place another ad, this time in English.

In another Facebook post several hours later, Leung asked if the company that sponsored the front-page ad is registered with the government or registered overseas, and whether it has the right to call itself “Limited”.  He said it is a violation of Hong Kong’s Companies Ordinance to feature a company that is not registered.

Leung also asked whether the company really existed when placing the ad on Apple Daily and whether any act of fraud or conspiracy was involved.  It is not easy for the former chief executive to forget the sandwich-hurling incident on Sept. 4, 2016, which coincided with the Legislative Council elections.

In 2017, Ng was sentenced to three months in jail for attacking Leung with an allegedly smelly tuna sandwich to protest against the Hong Kong leader’s failure to keep his promise to implement the universal retirement protection scheme. However, he won an appeal to his conviction last month.

Fiji Win Fifth Consecutive Hong Kong Sevens Title

April 8, 2019

NewsStandOnline.Net (8-April-2019): The Fiji Airways Fijian 7s team created history by becoming the first team to win the Hong Kong title for the fifth consecutive time.

The Gareth-Baber coached side were in top form through-out the tournament beating teams like Kenya, Australia, New Zealand, Argentina and USA to reach the final at the Son Ko Po Stadium last night.

The Fiji Airways Fijian 7s players were on fire in the final as they defeated the Le Bleu 21- 7 in an epic final to claim the title at Happy Valley.

Fiji 7s star playmaker Jerry Tuwai also achieved a milestone by becoming the first player on the World Rugby Sevens Series circuit to win the Hong Kong title for five consecutive times.

Fiji Win Fifth Consecutive Hong Kong Sevens Title

Head Coach Gareth Baber explained that it feels great to win the title and at the same time also dedicated the victory to the Christchurch victims.

“I think that all of this has been in the backdrop of what happened in Christchurch, obviously our hearts and our thoughts go out to all of those families and this is a dedication to them.”

Fiji Airways Fijian 7s speedster Aminiasi Tuimaba was awarded the player of the Final.  Tuimaba dedicated his first ever Hong Kong 7s victory to his family.  “I would like to thank the lord for the victory. This win for my two kids and grandmother.”

Meanwhile, the Fiji 7s side has climbed to second spot on the World Rugby Series standing and has 123 points, seven points behind leaders USA.

The side go into defending its Singapore 7s title next weekend.  Fiji is pooled with South Africa, Scotland and Canada.

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