Asian stocks erased gains as Sun Hung Kai Properties Ltd. (16) led a decline in Hong Kong shares after a director of the world’s largest real estate company was arrested as part of a bribery investigation. Exporters rose as confidence among U.S. homebuilders improved.
Sun Hung Kai slipped 1.6 percent in Hong Kong following the arrest of Thomas Chan Kui-Yuen, an executive director at one of the company’s units, by the Independent Commission Against Corruption. Samsung Electronics Co. (005930), Asia’s biggest consumer- electronics maker, gained 1.1 percent in Seoul. LG Display Co. (034220), a manufacturer of liquid crystal displays that gets about 16 percent of its sales from the U.S., rose 1.4 percent.
Maaden, GCC BDI sign new sponsorship agreement
Maaden, Saudi Arabia’s major mining and metals company, has partnered again with the GCC Board Directors Institute (BDI) in committing to high corporate governance standards, with the official signat