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A controversial Hong Kong tycoon has paid a world record $48m for a blue diamond at an auction in Geneva. Joseph Lau bought the 'Blue Moon' stone for his seven-year-old daughter, only a day after he had bought her a rare pink diamond worth almost $30m. The Â鶹Éç's HK correspondent Juliana Liu told us about the extravagant businessman. (Photo: The Blue Moon diamond. Credit: AP)