Word: honge
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...binge is being fueled in part by optimism that Beijing's $565 billion stimulus program will drive a turnaround in the sagging economy. "After a brief pause, China's appetite for natural resources has returned to buoyant levels," Jing Ulrich, chairman of China equities at J.P. Morgan in Hong Kong, wrote in a report this month...
...originated from pigs and mutated into some form that jumped to humans. That raised the terrifying prospect that humans could be completely unresistant to it, potentially leading to a pandemic. The Spanish flu pandemic of 1918 to 1919 killed about 50 million people. The most recent pandemic was the Hong Kong flu that killed about 1 million people from 1968 to 1969. "We are very, very concerned," WHO spokesman Thomas Abraham said, according the AP. "We have what appears to be a novel virus and it has spread from human to human." WHO convened an emergency meeting on Friday...
China's economy expanded 6.1% on annualized basis in the first quarter, its slowest pace since 1998. Singapore's GDP contracted an astounding 19.7% in the same period - after shrinking 16.4% in the previous quarter. Hong Kong has yet to report first-quarter numbers, but its economic performance in the final quarter 2008 does not inspire confidence: GDP growth was minus 2.5%. In the same period, the South Korean economy contracted 5.6% while Japan, Asia's largest economy and the world's second biggest, shrank...
...wouldn't know it from the stock markets, though. Three weeks into April, the MSCI Pacific Index, which includes Australia and Japan, is up 10.4% for the month, and 3% over three months. The MSCI Australia Index has risen 6.6% month-to-date, the Hong Kong index 15%, and Japan 11%. Even hapless Singapore is doing well, thank you very much, boasting gains of 11.7% in the month to April 20 and 7.6% over three months.Read "China Takes On the Global Car Business...
...something has to give. Hong Kong's population of 7 million is aging fast. In 2008, 12% of the population was over the age of 65; by 2036, that number will rise to 26%. The city's death rate has doubled since 1970, leaving the entire funeral industry scrambling to cope with the rising demand. The government is installing more efficient cremators, but today bodies must be stored in morgues - often two to a compartment - for as long as two weeks before cremation can be completed...