Hong Kong  - The economic slump has cost Hong Kong around 10,000 jobs so far and unemployment will continue to rise in the months ahead, the territory's labour secretary said Saturday.

Matthew Cheung said it was "difficult to predict" when the city's jobless rate would peak and said there would be further pressure on the labour market when graduates leave schools in May.

Hong Kong - Hong Kong's stock market rose by nearly 2.5 per cent Friday, breaking a two-day losing streak that saw nearly 5 per cent wiped off the value of shares.

The blue-chip Hang Seng Index rose 326.37 points, or 2.47 per cent, to end the week on 13,554.67. Turnover was a modest 36.1 billion Hong Kong dollars (4.65 billion US dollars.)

Friday's rise was driven by the announcement of mortgage subsidies in the US and renewed confidence in China-listed stocks which performed strongly.

Hong Kong - More than 200 employees at Hong Kong TV station Asia Television (ATV) were sacked Thursday in a move to ease the company's worsening financial situation.

Sackings include members of the TV station's news department and account for about 20 per cent of its overall workforce.

In an announcement sent out to employees, ATV executive chairman Linus Cheung said the redundancies came after a review of the station's corporate structure.

Hong Kong - Hong Kong shares fell more than 2 per cent for the second-consecutive day Thursday as concerns grew that the US stimulus package would not help revive the global economy.

The blue-chip Hang Seng Index tumbled by 310.91 points, or 2.3 per cent, to close at 13,228.3. Turnover was 39.6 billion Hong Kong dollars (5.1 billion US dollars.)

Thursday's losses extended the index's 2.5-per-cent decline Wednesday, which followed five days of gains, the longest winning run since December.

Hong Kong - The head of HSBC bank in Asia Thursday warned of the dangers of "financial nationalism" by banks because of the recent crop of stimulus packages by governments worldwide.

Sandy Flockhart, chief executive officer for the bank's Asia-Pacific banking operations, also warned of bail-out funds being swallowed up by "fringe projects."

Hong Kong  - A passenger arriving at Hong Kong International Airport from Thailand was arrested with 46 rare animals including tortoises and hedgehogs in his luggage, officials said Wednesday.

The Hong Kong resident was caught with two highly endangered Angonoka tortoises, 21 hedgehogs and 23 sugar gliders - small marsupials from Australia which are popular as pets.