Destroyed homes, cancelled events: Hong Kong counts economic cost of Tai Po fire

Hong Kong continues to count the economic losses from the city’s deadliest fire in decades, with the disaster having destroyed 1,736 flats at Tai Po’s Wang Fuk Court, turned residents’ valuables into ashes and triggered the cancellation of banquets and mega-events. Economists and industry leaders estimate the losses could run into billions of Hong Kong dollars, with the total market value of the flats alone amounting to an estimated HK$5 billion (US$642.3 million). Last month’s blaze killed at...