Hong Kong property outlook clouded by Trump, rate uncertainty despite November price rise

By Cheryl Arcibal

Hong Kong’s home prices and rents moved in opposite directions last month, with market observers saying uncertainty over the interest rate outlook and Donald Trump’s return to the White House could weigh on the sector next year.

Prices of lived-in homes rose marginally for a second consecutive month in November. The city’s closely watched residential gauge rose 0.06 per cent to 290.9 in November from 290.7 in October, according to data from the Rating and Valuation Department. In October, home prices rose for the first time since March, increasing 0.87 per cent month on month.

For the first 11 months of the year, home prices fell 6.55 per cent, the data showed. Prices have slumped 27 per cent since hitting an all-time high in September 2021.

“We have observed residential prices have stabilised after declining for five consecutive months,” said Eddie Kwok, executive director for valuation and advisory services at CBRE Hong Kong, adding that a clearer outlook for home prices is likely to emerge after the Lunar New Year festivities next month.

He said that Trump’s re-election was viewed as a major “uncertainty” factor by the market.

Last month, HSBC, Hang Seng Bank and Bank of China (Hong Kong) cut their prime lending rate for the second time this year to the lowest in two years. The trio lowered their prime rate by 25 basis points to 5.375 per cent. Standard Chartered, Bank of East Asia and ICBC (Asia) also dropped their rate to 5.625 per cent, resulting in lighter mortgage rates for homebuyers.

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Hong Kong opposition politician Martin Lee stripped of JP title

By Kahon Chan

Hong Kong veteran opposition politician and senior counsel Martin Lee Chu-ming has been stripped of his justice of the peace (JP) title.

A notice published in the government gazette said Chief Executive John Lee Ka-chiu had revoked the civic honour of the Democratic Party’s founding chairman as of Friday.

While the notice did not state the reason, the Justices of the Peace Ordinance stipulates that the city leader may revoke a JP appointment if the person has been given a prison sentence – whether suspended or not – after being convicted of an offence in Hong Kong or any other jurisdiction.

Martin Lee, 86, was among seven opposition activists and lawmakers – including media tycoon Jimmy Lai Chee-ying – who lost a final appeal in August against their convictions for taking part in an illegal march during the 2019 anti-government protests.

The veteran democrat had been given an 11-month suspended sentence in April 2021 after a trial on the illegal demonstration that took place on August 18, 2019.

The opposition politician declined to comment on the government’s move on Friday when approached by the Post.

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China launches deep-sea icebreaker to help forge path in research and Arctic influence

By Meredith Chen

As China asserts itself as a “near-Arctic power”, it has launched its first icebreaker ship capable of scientific and archaeological research in deep and distant seas that can support crewed deep dives in icy regions, according to state media.

The independently-built multifunctional research vessel Tan Suo San Hao (Explorer 3) was launched on Thursday to conduct crewed deep-sea operations in polar areas and boost Beijing’s technological self-reliance and oceanic research capabilities amid its growing polar exploration ambitions.

It would allow China to be only the second country after Russia to send researchers to the deep polar seabeds for scientific exploration. In addition to human exploration, the Tan Suo San Hao will have aquatic drones for deep-sea scientific activities.

The ship was independently designed and built by Chinese engineers, who broke through key technological bottlenecks that had been controlled by foreign countries, including key design technologies for ice-capable vessels and intelligent ship control technologies, according to state broadcaster CCTV.

State media outlet Xinhua said: “It will expand China’s manned deep-sea capabilities from just deep-sea depths to all marine areas, effectively enhancing China’s capacity for deep-sea archaeological work”.

Other Chinese vessels that can access the interior of polar regions, such as Xuelong 1 and Xuelong 2, do not support crewed deep-sea submersible activities. And Tan Suo Er Hao (Explorer 2) can carry manned submersibles but is not an icebreaker.

China is moving to expand its footprint and influence in the polar regions with shipping and research. Its push is also in keeping with Beijing’s goal of building a science superpower and boosting self-reliance amid rising tech and resource competitions with rivals, particularly the United States.

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Man in India dies after swallowing live chick to cure infertility in ritual mishap

By Yating Yang

An Indian man, in an attempt to treat his infertility, resorted to an unconventional remedy by swallowing a live chick, which became lodged in his windpipe and ultimately caused his death.

The 35-year-old man, identified as Anand Yadav from Chhindkalo village in Chhattisgarh’s Ambikapur district, was recently found dizzy after taking a shower and collapsed at home. He was quickly rushed to a hospital, where he was pronounced dead despite extensive medical efforts.

Initially, during the postmortem examination, doctors were unsure of the cause of death.

However, a breakthrough occurred when an incision in his throat during the autopsy revealed a chick, measuring 20cm in length, lodged inside.

Santu Bag, the doctor who conducted the postmortem, speculated that the chick had obstructed both Yadav’s airway and food passage, leading to asphyxiation. Remarkably, the bird was initially found alive but later died.

“This is the first time I have encountered such a case in my career, having conducted over 15,000 postmortems. The findings shocked us all,” Bag remarked.

Local villagers speculate that superstitious beliefs may have led Yadav to swallow the live chick.

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Azerbaijan Airlines hails ‘heroism’ of dead pilots for saving 29 lives in Kazakhstan jet crash

By Business Insider

The president of Azerbaijan Airlines praised the pilots of flight J2-8243 after the plane, carrying 67 people, crashed in Kazakhstan on Wednesday.

Although both pilots were among the 38 fatalities reported by Kazakh authorities, nearly half the passengers – 29 people – survived.

Samir Rzayev, who heads up the airline, also known as AZAL, told reporters on Wednesday that the two pilots’ “heroism will never be forgotten”.

“While this tragic accident brought a significant loss to our nation, the crew’s valiant dedication to their duties until the last moment and their prioritisation of human life have immortalised their names in history,” Rzayev said, according to the Azerbaijani news agency Report.

Rzayev said the pilots collectively had over 15,000 flight hours and that the plane had recently passed a technical inspection.

“Despite these measures, the causes of the incident are still under investigation,” Rzayev added.

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US says Hong Kong bounties for 6 activists threaten its sovereignty

By Kahon Chan

The US State Department has condemned Hong Kong authorities for placing bounties on six more activists and revoking the passports of seven others, calling the moves “a form of transnational repression that threatens US sovereignty”.

The statement was issued on Thursday, two days after Hong Kong police issued HK$1 million (US$128,690) bounties for the additional activists for allegedly violating the Beijing-imposed national security law, bringing the total number of fugitives to 19.

The passports of the other seven who left the city were revoked in a separate notice gazetted on Tuesday, which also barred anyone in Hong Kong from funding them. It was the second such notice issued under the city’s domestic security law enacted in March.

Noting that some of those activists were based in the United States, the State Department said it rejected the Hong Kong government’s efforts to “intimidate and silence” individuals who choose to make America their home.

“The extraterritorial application of Hong Kong’s national security laws is a form of transnational repression that threatens US sovereignty and the human rights and fundamental freedoms of people all over the world,” a spokesman for the department said.

“These actions demonstrate Hong Kong authorities’ disregard for international norms and the rights to freedom of expression and peaceful assembly.”

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Curtain falls on Hong Kong’s eighth cinema this year

By Jess Ma

Hong Kong cinema chain Golden Harvest has announced the closure of its Nam Cheong branch, bringing down the curtain on the city’s eighth film theatre this year.

The GH V Walk cinema, located in a shopping centre in Nam Cheong in Sham Shui Po, ceased operations on Friday. Golden Harvest wrote “suspended operations” behind the cinema’s name on its website and Facebook page.

Although some local productions have broken box office records, the city’s eighth cinema closure marks a difficult year for the film industry in Hong Kong.

This is Golden Harvest’s second closure of the year. The chain now operates seven branches.

The V Walk shopping centre’s website displayed a screening of local romance drama Last Song For You for 9:45pm on Thursday, but the cinema’s webpage did not list screenings for Friday.

According to a check by the Post, two online film ticket sales platforms had no screenings listed for the cinema for Friday or any later date.

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Seoul says North Korean soldier injured in war captured by Ukraine

By Agence France-Presse

South Korea’s spy agency said on Friday it had confirmed that a North Korean soldier sent to back Russia’s war against Ukraine had been captured by Ukrainian forces.

Pyongyang has deployed thousands of troops to reinforce Russian troops, including in the Kursk border region where Ukraine mounted a shock border incursion in August.

“Through real-time information sharing with an allied country’s intelligence agency, it has been confirmed that one injured North Korean soldier has been captured,” South Korea’s National Intelligence Service said in a statement.

The soldier was captured by the Ukrainian army, an intelligence source said, adding that the location where he was seized was unknown.

The first confirmation of the capture of a North Korean soldier came days after Ukrainian President Volodymyr Zelensky said on Monday that nearly 3,000 North Korean soldiers had been “killed or wounded” so far.

Seoul’s Joint Chiefs of Staff (JCS) also said on Monday that more than 1,000 North Korean soldiers have been killed or wounded.

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Panama rejects talks with Trump over canal threat, says ‘no’ Chinese soldiers in waterway

By Agence France-Presse

Panamanian President José Raúl Mulino on Thursday ruled out negotiations with US president-elect Donald Trump over control of the Panama Canal, denying that China was interfering in its operation.

Mulino also rejected the possibility of reducing tolls for US vessels in response to Trump’s threat to demand control of the vital waterway connecting the Atlantic and Pacific oceans be returned to Washington.

“There’s nothing to talk about,” Mulino told a press conference.

“The canal is Panamanian and belongs to Panamanians. There’s no possibility of opening any kind of conversation around this reality, which has cost the country blood, sweat and tears,” he added.

The canal, inaugurated in 1914, was built by the United States but handed to Panama on December 31, 1999, under treaties signed some two decades earlier by then-US president Jimmy Carter and Panamanian nationalist leader Omar Torrijos.

Trump on Saturday slammed what he called “ridiculous” fees for US ships passing through the canal and hinted at China’s growing influence.

“It was solely for Panama to manage, not China, or anyone else,” Trump said in a post on his Truth Social platform. “We would and will NEVER let it fall into the wrong hands!”

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South Asia needs to get its political house in order to turn around its economy

By Biman Mukherji

South Asia stands on the brink of a severe downturn unless its leaders act decisively to stabilise the region’s economies as they face unrelenting global headwinds and US president-elect Donald Trump’s protectionist trade measures.

One of the poorest regions in the world, South Asia has experienced numerous incidents of political violence, which have hampered its development and economic growth.

Pakistan recently launched air strikes on Afghanistan apparently to thwart militants even as doubts linger over the political legitimacy of the country’s elected government. Supporters of jailed former prime minister Imran Khan have clashed with the police to demand his release.

The situation is also grim in Bangladesh, where the interim government has been struggling to restore law and order with a depleted police force since a mass student-led uprising in August deposed then-prime minister Sheikh Hasina.

The political unrest has dented investor confidence and support from multilateral institutions such as the International Monetary Fund (IMF) and the World Bank.

On the economic front, Sri Lanka was on the verge of collapse in 2022 and is still on a knife-edge with its massive debts, even though its political situation is improving after President Aruna Kumara Dissanayake took office in September.

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Brazil says BYD Chinese workers found in ‘slavery-like conditions’ victims of human trafficking

By Reuters

The Chinese workers found at a construction site for a factory owned by China’s electric vehicle producer BYD in Brazil’s Bahia state are victims of human trafficking, Brazilian labour authorities said on Thursday.

BYD and contractor Jinjiang Group have agreed to assist and house the 163 workers in hotels until a deal to end their contracts is reached, Brazil’s Labor Prosecutor’s Office said in a statement issued after meeting representatives from both firms.

BYD did not immediately reply to a request for comment. Reuters was unable to reach Jinjiang for comment outside usual working hours.

However, the companies have questioned the authorities’ assessment, first announced on Monday that the workers were operating under “slavery-like conditions”.

The parties are scheduled to meet again on January 7, according to the statement. A proposed deal by labour prosecutors will be presented to the two firms.

A deal could clear BYD and Jinjiang from an investigation by labour prosecutors, but they could still face scrutiny from labour inspectors and federal prosecutors, who have requested the sharing of the evidence so that “measures can be adopted in the criminal sphere”, the statement said.

Jinjiang said on Thursday Brazilian authorities’ portrayal of their employees as “enslaved” was inconsistent with the facts and that there were translation misunderstandings.

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China’s military launches first amphibious assault ship

By SCMP Reporter

China launches its first 076 amphibious assault ship, with electromagnetic catapult.

More to follow...

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China’s military tests remote 3D printed parts and drone delivery for battlefield: report

By Yuanyue Dang

The Chinese military is using drones and 3D printing to support the remote maintenance of weapons, a tactic that has been used by the US in the Ukraine war, according to the PLA Daily.

A brigade of the People’s Liberation Army’s Northern Theatre Command Air Force tested remote maintenance technology during an equipment repair drill, the official Chinese military media outlet said on Wednesday. It did not specify when or where the exercise took place.

During the training, soldiers “applied new technologies, methods and equipment such as 3D printing and drones to the entire equipment maintenance process”, the report said.

An equipment maintenance team used a 3D printer to recreate damaged parts at the back end, and then supported the front line using methods such as drone delivery, the report said.

China is competing fiercely with the US-led West in many areas, including technology and the military.

The US is also applying these remote maintenance tactics as it supports Ukraine.

According to the US publication Defence News, after supplying weapons to Ukraine, the US military provided remote maintenance support based in Poland to help Ukrainian frontline soldiers repair damaged weapons in Kyiv’s fight against Moscow’s invasion.

A report by the publication last year said the US military was trying to extend remote maintenance technology to the Indo-Pacific theatre. It quoted a senior general as saying: “It has been a great enabler to the warfight in Ukraine … It’s one of the game changers in a sense.”

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Travellers can take driverless cars from major Hong Kong bridge by end of 2025

By Oscar Liu

Travellers will be able to take driverless vehicles from the Hong Kong checkpoint of the bridge linking it with Zhuhai and Macau to the city’s largest indoor entertainment hub by the end of next year, the Airport Authority has said, with the service set to be expanded to Tung Chung in 2028.

Steven Yiu Siu-chung, the authority’s executive director, said the 16-seat autonomous vehicle travelling at a maximum speed of 40km/h (25mph) could take visitors from the local checkpoint of the Hong Kong-Zhuhai-Macau Bridge to the 11 Skies complex in just three minutes.

The 11 Skies complex, located in Terminal 2, is part of Hong Kong International Airport’s Skycity.

“The initial phase of this service is scheduled to commence trial operations by the end of 2025, with plans to deploy 26 autonomous vehicles initially. We already have our prototype ready,” Yiu said.

The driverless autonomous transport system will operate on Airportcity Link, a dedicated bridge for vehicles integrated with a pedestrian walkway as part of the HK$100 billion (US$12.9 billion) Airport City project that will be completed in phases between 2026 and 2031.

“We aim to transport 500 people per hour in one direction in the initial phase, with plans to increase this number to 1,000, resulting in a total of 2,000 [passengers per hour] in both directions,” Yiu said.

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