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Flight movements also surged 6.7% to a new high of 28,940.

Standard Chartered says a technical recession could affect some Asian economies, like Singapore and Hong Kong, by the end of 3Q 2011.

The fund’s chief investment officer faces the same fine for alleged improper trading.

And average room rates in Asia Pac rose by 7%, overtaking Europe’s hotel rate growth.

It attracts better players with a higher gaming and non-gaming budget, according to a survey.

External assets of the Exchange Fund increased by HK$33b as of end of August.

Analysts forecast the city’s GDP growth to reach 4.9% in 2012.

Aside from HSBC, Standard Chartered is also assured to find a home in Hong Kong if it decides to relocate.

Analyst said it’s difficult to be bullish amidst events in Europe and the US.

The total gross value of construction works by main contractors in the second quarter of this year increased 4% in over the same period last year, to $29.4 billion.

Investors are uninspired as the debt crisis in Europe continues to be a concern.

The Labour & Welfare Bureau has expressed its concern with HSBC following news that the bank will cut 3,000 jobs in Hong Kong.

Business discount fares decreased 3% as more corporate customers are flying economy on the short-haul routes within Asia.

The Hang Seng Index saw its biggest rise since 23 August.

The job cuts are part of the bank's plan to slash annual costs by $3.5 billion.

The figure represents about nine times the currency in circulation.