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Xiaomi shares surge on hopes of investor access Listen
Shares of mainland smartphone giant Xiaomi rallied to record highs on Wednesday after the local stock exchange said it's working with bourses in Shenzhen and Shanghai to give mainland investors access to the firm's shares, which debuted here last week. The two mainland stock exchanges had shocked investors by announcing on Saturday that the cross-border stock connect programme would not be expanded to cover Xiaomi shares – because of their dual-class structure. But Hong Kong Exchanges now says the bourses are working on a fix, though no details or timetable were given. Jim Gould asked the chief executive officer of Partners Capital International, Ronald Wan, when he thinks the issue will be resolved:
Housing woes drag down HK’s quality of life Listen
Hong Kong's increasingly unaffordable housing means the overall quality of life in the city got worse last year… according to the latest annual study on the matter by Chinese University. The survey – conducted in September last year – suggests that things have gotten so bad that an average household now has to save up every dollar of its income for 16 years to be able to afford a 300-square-foot flat in an urban area. The figure in 2016 was 14.5 years. Around a thousand people were interviewed as part of the survey, and researchers also looked at data such as health expenditure and air pollution. Professor Wong Hung, who heads the survey, told Annemarie Evans that the 16-year figure shows how serious the housing problem is: