hong kong

Hong Kong's economy slid into recession for the first time in five years, contracting in the third quarter as global economic woes and the financial crisis hurt exports and spending.

Hong Kong's stock index has plunged over 6 percent in early trade, tracking Wall Street's sharp lossses overnight.

By the time Jeffrey Frankel got to bed it was past midnight, but sleep did not come easy. Twice during the night, the broker had climbed out from the covers and returned to the television, trying to get a read on what investors were thinking in Tokyo and Hong Kong and to see what the futures market foretold about the trading day ahead.

Hong Kong's benchmark stock index rebounded 14.4 percent after plunging 12.7 percent the previous day.

After U.S. and European governments took steps to assist banks, Hong Kong’s financial regulators announced government backing for all of the territory’s bank deposits through 2010.

South Korea, Taiwan and Hong Kong all slashed interest rates Thursday, joining in a chorus of cuts by central banks around the world aimed at fighting the global financial crisis.

Hong Kong's de factor central bank said Wednesday it would slash its benchmark interest rate by 1 percentage point to 2.5 percent to encourage lending amid the global credit crunch.

They've been available on the black market almost since the beginning. They'll be selling in Russia next week.

And now you can get them at the Apple Store. What are they? They're unlocked iPhone 3Gs, usable on the carrier of choice, not just AT&T.

Simply insert your existing SIM card and activate by visiting iTunes 8. There's just one catch: Your address has to be in Hong Kong.

Oh, and they cost about US$700 (HK$5400) for the 8GB unit or $800 (HK$6200) for one with 16MB. That's according to the unit's Apple Store page, which I visited this morning and attempted to buy one.

But no dice; my...

Apple Inc. is putting on sale unlocked iPhone 3G in Hong Kong, allowing people to use it with any mobile phone carrier.

Hundreds of customers descended on branches of Hong Kong's Bank of East Asia on Wednesday to demand their deposits back after the bank was hit by unconfirmed rumors questioning its stability.