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Are the tides turning on Wall Street? Stocks fell in the past three trading sessions, as investors abandoned the tech heavyweights that have been at the forefront of the market’s remarkable charge forward. What’s behind the sell-off? Sky-high valuations reminiscent of the dot-com era have sparked fears of a tech bubble. To this end, investors are wondering if this pullback is just a correction, or if it is the start of a larger drawdown.In times like these, the legends can offer some guidance. We are referring to the people that transformed the way we play the investing game, namely David Shaw.A former Columbia University computer-science professor, Shaw founded the D. E. Shaw group at a small bookstore in New York City in 1988. Starting out with six employees and $28 million in capital, he pioneered a new investing approach,

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Hong Kong education official arrested over accessing database for details on son’s secondary school placement



a sign above a store: The exterior of the Independent Commission Against Corruption headquarters in North Point. Photo: Felix Wong


© SCMP
The exterior of the Independent Commission Against Corruption headquarters in North Point. Photo: Felix Wong

A Hong Kong education official has been arrested and charged by the city’s graft-buster over the dishonest use of his department’s computer system to obtain information about his son’s secondary school placement.

Education Bureau employee Pang Wai-kit, 57, was charged with 10 counts of accessing a computer with criminal or dishonest intent, and will appear in Kwun Tong Court on Monday.

The Independent Commission Against Corruption (ICAC) alleged that the education official, who was posted to the School Places Allocation Section, had obtained access to the bureau’s Education Information System, which carried the Secondary One Allocation database for internal assessment results in relation to his son’s secondary school placement.

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