Reuters Insider - Asia End of Day Market Update April 30, 2015

Sino Land

30/04/2015 12:48

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 Source:             Thomson Reuters                                   
                                                                       
 Description:        An afternoon roundup of Asia market news          
 
 
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Transcript (May be auto-generated)

 Small cap stocks are all the buzz as link up plans with Shenzhen's Exchange 
could be announced any day now. Though the sharp gains were overshadowed by big 
banking losses, Bank of China sent nearly 4% while ICBC down 1.9%. Hong Kong 
Exchanges and Clearing said it's in preliminary talks with Taiwan on a stock 
next scheme similar to the one it has with Shanghai. Shares up 1%. China's 
flagship carrier Air China, the name speaks for itself, saw a surge in first 
quarter profits. Cheaper fuel prices were largely to think, the news not enough 
to lift the stock, shares down 2%. Sino Land rose 1.6%, propped up by a new 
residential lender - one in Sai Kung, that's just a little way across from Hong 
Kong Island. And staying with property, New World Development is selling its 
interests in three Hong Kong hotels to a joint venture with Abu Dhabi's 
Sovereign Wealth Fund. The developer was planning for an IPO for three assets 
but decided to instead team up with the investment authority to form a 50:50 JV.
Together, they will further pursue acquisitions in the hospitality space. The 
$2.4 billion deal is the second real estate investment by a Middle Eastern fund 
in the past six months. Internet giant Tencent is making further inroads into 
the US gaming market buying a 50% stake in San Francisco-based mobile game 
developer, Glu Mobile, best known for their Kim Kardashian Hollywood act. 
Tencent already invests in several US gaming companies through minority stakes 
and partnerships