Li says Occupy Central will hurt HK

Tycoon Li Ka-shing has criticised the planned Occupy Central campaign, saying it would be harmful to Hong Kong. Mr Lee said the movement would give a bad image to others and would damage Hong Kong and local people. The property tycoon also urged local people not to oppose individual travellers from the mainland because they'd contributed greatly to Hong Kong's economic growth. He said it was completely wrong to scold tourists, adding that Hong Kong would be in difficulty without the support of the mainland. Speaking at a news conference to announce his company's financial results, Mr Li also described as a "joke" people who accused him of withdrawing assets from Hong Kong - saying it's normal for businesses to buy and sell. He said he wanted to continue to invest in the territory but had to see if projects were profitable. The 85-year-old Mr Li said he hadn't thought about retirement and said he was lucky to enjoy very good health. But he said his son Victor had been right next to him in all of his companies' meetings and he'd be ready to take up the torch at any time. Refernece: http://rthk.hk/rthk/news/englishnews/20140301/news_20140301_56_988629.htm

44% of rich HK investors own overseas properties - HSBC survey

A HSBC survey suggested affluent people in Hong Kong expressed strong demand for property investment overseas. 44% of respondents said they owned overseas properties, following 55% in Indonesia and 45% in mainland China. A total of 2,700 wealthy people in seven Asian countries and regions, including Hong Kong, India, Indonesia, mainland China, Malaysia, Singapore and Taiwan, who held overseas properties, were interviewed. Australia is the first choice for the rich in Asia, particularly those in Southeast Asia, to buy properties. Ten percent of Hong Kong people said they had purchased flats in Australia. AAStocks Financial News Web Site: www.aastocks.com