Word: honge
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...Scorpio Partnership, which in August helped Swiss bank UBS roll out Dialogue, a new financial-education service. But having money and being savvy about it are "not directly linked," he says. Another such program is Citi Private Bank's annual NextGen conference, which has been held in Singapore and Hong Kong since 2003. Each year, the bank sends invitations to the adult children of clients whose net worth exceeds $10 million. Participants attend investment seminars, play finance-related games and take part in team-building and social events...
Nissim Tse is ready for a fight. For the past five months, Tse, head of trading in Hong Kong for hedge fund RAB Capital, has been torturing his body in preparation for a charity boxing match against some of the city's other hedge-fund managers. The training is bruising, but Tse is happy to participate. After all, the pounding he takes in the ring isn't as dispiriting as the one he has been enduring at work lately. "Going into the office every day is like walking on land mines," Tse says. "This is going to be the worst...
...equity markets has dented fund performance and fractured investor confidence. In September alone, $43 billion fled the $1.7 trillion industry, according to TrimTabs Investment Research. "Hedge-fund investors are losing so much money elsewhere, they're shooting first and asking questions later," says Robert Howe, a fund manager in Hong Kong...
...minimum of about 8% - in part to forestall the labor unrest that Beijing fears could spread and turn into protests against the ruling Communist Party. Despite its domestic agenda, the stimulus package has been warmly welcomed overseas, too. The day after it was revealed, share prices from Hong Kong to London surged. And by again taking action along with the rest of the world (Beijing had previously cut its interest rates in tandem with central banks in other capitals), China is reinforcing its stated willingness to step up and help rebuild the global financial system...
...soon they returned to their downward drift. But the impact of the stimulus will last far longer because it marks the shift of China's economy away from manufacturing and exports to other means of growth. Says Ben Simpfendorfer, a China economist with the Royal Bank of Scotland in Hong Kong: "In a decade we'll be looking back at this moment and saying, 'This was it, this was when things really changed.'" The number doesn...