PCCW Ltd.
HKG:0008 ISIN:HK0008011667
News
Sothebys (NYSE:BID) announced today that Linus Wing Lam Cheung has been unanimously elected to join the Company's Board of Directors. Mr. Cheung is the retired Chief Executive Officer of Hong Kong Telecom and a renowned collector of Chinese Art.
Asian share markets were bolstered on hopes for China's further stimulus measures, which are speculated to include market-supportive moves. Shanghai Composite Index surged 6.1% while Hong Kong's Hang Seng Index rose 2.5%. South Korea's Kospi was up 3.3%. Japanese and Singaporean markets also shrugged off the bad lead from Wall Street, gaining 0.9% and 1% respectively.
The Australian share market closed firmly in the black on last Friday, driven by a resurgent resources sector after the commodities index posted its biggest weekly gain in 33 years. US stocks rose on Friday as financial stocks gained and a plunge in oil prices soothed worries about inflation and consumer spending.
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