〈Asian Post, Feburay 24, 2018〉Mainland financials and property developers again drove Hong Kong indices higher yesterday, with Shanghai and Shenzhen markets also continuing their rise.

The Hang Seng Index gained 0.97 per cent to 31,267.17 points although turnover slipped to HK$103.33 billion from Thursday's HK$120.67 billion. The H-share index advanced 1.65 per cent to 12,735.06 points.

"Hong Kong markets are very volatile these days without forming any major direction," said Kingston Lin King-ham, a director at AMTD securities brokerage. "The Hang Seng Index was supported by sentiment from global and mainland markets [yesterday], and because bank earnings results have so far been solid."

Tencent Holdings, the most heavily traded stock, added 1.57 per cent to HK$453.40.The Hang Seng Index is supported by sentiment from global and mainland markets, and given that bank earnings results have so far have been solidKingston Lin King-ham, director at AMTD securities brokerageCountry Garden Holdings, the mainland's third-largest property firm by contracted sales, climbed 6.21 per cent to HK$15.04, China Evergrande Group rose 1.68 per cent to HK$24.25 and China Overseas Land & Investment increased 1.8 per cent to HK$28.35.

Ping An Insurance (Group) inched 0.7 per cent higher at HK$85.75 while AIA Group added 1.03 per cent to HK$63.65.〈Asian Post , Feburary 23, 2018〉The financial secretary's pre-budget ritual of managing expectations is not made easier by overflowing coffers. Paul Chan Mo-po has run into a growing clamour for cash handouts, prompted by news of a projected record annual surplus approaching HK$160 billion. He has, rightly, not encouraged hopes for sweeteners and made clear a preference for targeted relief measures and investment.

Chief Executive Carrie Lam Cheng Yuet-ngor has said the government needs "prudent financial management", at the risk of echoing the past refrain of hoarding surpluses for a "rainy day", resulting in fiscal reserves far in excess of reasonable provision for a crisis. Meanwhile more than 1.3 million people are living below the poverty line of half the median household income and Hong Kong is woefully ill-prepared for the health and elderly care demands of a rapidly ageing population. In a city whose finances are the subject of global envy, this cannot continue. They have to be put to work for a fairer society and a competitive future as well as a rainy day.

The surplus is generated mainly by revenue from hot property and share markets, both unreliable sources of income from a narrow tax base that exacerbates a dangerous wealth gap rather than lifts people out of poverty. Instead of hoarding or squandering it, Chan needs to channel sentiment towards more visionary investment.

The budget has to tackle manifestations of a structural wealth gap, such as socially and economically wasteful educational inequality, and a health and aged care structure stressed by the current flu outbreak, let alone the unstoppable march of an ageing population.

〈The Standard ,February 22, 2018〉Wheelock and Company (0020) gained HK$26 billion from property sales last year and expects more this year, says the developer's vice chairman, Stewart Leung Chi-kin.

He still hopes that the government can work with developers and landlords in the New Territories to convert farmland to residential use, which is the most efficient way to create more land supply in Hong Kong rather than reclamation and other means.

The government has been fighting on paper only and it has no long-term plan for the supply of housing land, which has pushed up prices of both land and property, Leung said at a media meeting.

Annual price growth of 20 to 30 percent is not healthy and affects social livelihood. The government should also ease mortgage rates, he added.

For the Year of the Dog, Wheelock's project Malibu in Lohas Park will be open for sale next month at the earliest, and hopefully by the end of this year the project on Peak Road.

Meanwhile, real-estate brokerage Midland Holdings (1200) expects home prices in Hong Kong to rise by 10 percent this year, buoyed by the positive economy and low unemployment. Luxury housing will be the best performer, and prices of office buildings could rise as much as 20 percent, said the company's deputy chairman, Angela Wong Ching-yi.

Midland will continue recruiting, expecting 2,000 more staff. And it will open 50 new branches in Hong Kong, especially in the New Territories, where more new housing projects are offered.

〈The Standard,Feruary 22, 2018〉China has shone in the latest list of the world’s richest cities, thanks to the rapidly accumulated personal wealth in the country. According to the World’s Wealthiest Cities list released by the South African market consultancy New World Wealth earlier this month, a total of three Chinese cities entered the top 10 — Beijing, Shanghai and Hong Kong.

The market research firm gauges the total amount of private wealth based on property, cash, equities and business interests. Government funds are excluded from the figures. Beijing came fifth on the list with a total wealth of $2.2 trillion, which was the highest ranking among all the nominated Chinese cities.

Shanghai caught up with Beijing to arrive at sixth place with a total private wealth reaching $2 trillion.

Dislodged by Los Angeles, Hong Kong took eighth place on the list with a total wealth of $1.3 trillion. New York City topped the list with total wealth of $3 trillion. The top 15 cities globally hold $24 trillion in wealth, which is about 11 percent of the world’s total private wealth.

San Francisco, Beijing, Shanghai, Mumbai and Sydney have shown the fastest growth rates of wealth in the past decade, according to New World Wealth. Mumbai is expected to be the city with the highest rate of growth in the next 10 years.

New World Wealth analysts singled out two Chinese cities to watch. They stressed that Shenzhen just missed the top 15 list with a total wealth of $770 billion.

Pointing out that the city is home to the Shenzhen Stock Exchange and telecommunications giant Huawei Technologies, the South African market research firm also acknowl edged Shenzhen as the hightech capital of China.

〈The Standard,Feruary 21, 2018〉Sino Land (0083) will put 2,000 units on the market from its unnamed Kwun Tong project for the Year of Dog, as well as 550 flats in Tai Po and 100 flats in Sham Shui Po.

That will total 2,650 flats for the year, says associate director of sales Victor Tin Siu-yuen. He also said the company will put three special units from The Palazzo in Sha Tin up for sale. They are sized at about 2,000 square feet to 3,000 sq ft.

Meanwhile, two units from the Mount Nicholson project on The Peak of The Wharf (0004) and Nan Fung Group were sold for about HK$590 million and HK$548 million recently, according to Land Registry records. The more expensive flat is sized at 4,596 sellable sq ft, which represents a per sq ft price of HK$128,414.

The other flat is sized at 4,266 sellable sq ft and was sold for HK$128,413 per ssf. A Ricacorp Properties report owed the average per square foot price at 50 major housing estates in Hong Kong last month was HK$13,922, up 1.3 percent from HK$13,744 in December. Banyan Garden in Cheung Sha Wan has recorded a 7.6 percent increase in per sq ft price, while Fairview Park in Yuen Long has reported a decrease of 7.4 percent.

Eight of the major estates on Hong Kong Island have a per square foot price of HK$16,712, while the per square foot price of 21 estates located in Kowloon was HK$15,065, and HK$11,950 in the New Territories.

They also recorded 822 transactions in January, with 372 deals in the New Territories, 324 in Kowloon and 126 on Hong Kong Island. On the rental market, a stigmatized property at The Sorrento in West Kowloon that featured in a deadly leap in September last year was reportedly rented out for HK$29,000 monthly, 20 percent lower than the rate of similar flats in the development.