I'm not sure if age is a barrier
Bonanza41,
I went through the Cathay recruitment process for Ab-initio about 2 years ago. I got all the way to Hong kong for the final interview stages but wasn't successful. I've just turned 38 and they didn't seem to have a problem with my age. I guess the best way to find out is to apply and if you don't get a shot then you've got your answer.
Although i was understandably pissed at not getting through, in hindsight the issue of no/meagre housing allowance living in a very expensive (accommodation wise) city and a poor pay scale (relative to every other pilot I'd be flying with) made me realise that there are perhaps there were better options out there.
Make sure you do your research into the cost of living in HK and whether you'll be happy scrimping and saving at this stage of your life. Regardless, I feel your pain and good luck with whatever you decide.
Bird-dog