Hong Kong, Beijing
Digest more
Hong Kong's deadliest fire in decades is raising questions about corruption and negligence in the renovations of the apartment complex where at least 128 people died.
The Chinese government will inspect fire risks in high-rise buildings after the deadly blaze in Hong Kong earlier this week, according to a statement posted Saturday on the Ministry of Emergency Management’s website.
Dozens of residents were feared trapped on upper floors of the towers as firefighters brought the blaze "largely under control" on Thursday.
China announced a sweeping inspection of fire-safety standards in high-rise buildings nationwide on Saturday after a deadly fire in Hong Kong left at least 128 people dead, moving to avert any comparable disaster on the mainland.
Hong Kong’s worst residential fire in more than half a century is triggering worries that a swathe of the high-rise housing common in China’s cities could be susceptible to similar safety risks.
Asian equities were mixed on higher volumes as passive investors traded at the market’s close due to MSCI’s index rebalance.
Shares of China Taiping Insurance Holdings fell as much as 8% on Thursday on concerns about its coverage exposure of more than $200 million to a Hong Kong apartment complex where a huge fire killed at least 55 people,
Feedback