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.
Qatar calls for creating Common Islamic Market
Speaking on behalf of all Arab countries, Qatar’s Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim bin Mohamed Al Thani, yesterday at the Ministerial Session of the 30th COMCEC meeting i
SAMA’s net foreign assets reach SR2.753 trillion
Saudi Arabia’s bank lending growth to the private sector accelerated to 15.7 percent year-on-year in October, the fastest rate since May 2013, from 13.2 percent in the previous month, data from Saudi
Zain Saudi proposes capital reduction
Zain Saudi has proposed a capital reduction to shareholders to eliminate all accumulated losses up to Sept. 30, the company said in a statement on the Kingdom’s bourse.