Asian Stocks Erase Initial Gains as Hong Kong Shares Decline


20/03/2012 06:34 AST

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.

For more on this Click Here

Bloomberg
Global News
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | News Archive
Most Viewed Companies
Ticker Price Volume
EEC 18.71 3,506,077
QNBK 156 240,031
OOREDOO 1120 1,390
GFH 0.31 28,000
SABIC 80.73 11,116,011
ALDAR 2.67 14,953,088
BKMB 0.4 2,620,003
Recent News

US dollar slips against commodity currencies after OPEC deal
The US dollar hit a roughly five-month low against the Norwegian crown and fell against other commodity-linked currencies on Wednesday after OPEC sources told Reuters the producing group agreed to r

Heavyweights lead index drop on Muscat bourse
Selling pressure in index heavyweights weighed on the MSM 30 Index which declined 0.39 per cent to close at 5,726.16 points. The MSM Shariah Index closed at 874.98 points, down 0.07 per cent.

Qatar Electricity and Water acquires 9.75pc stake in Phoenix Power
Phoenix Power Company SAOG announced yesterday one of its founder shareholders Qatar Electricity and Water Company (QEWC), has transferred its entire stake in the company, representing 9.75 per cent

Islamic banks in Sultanate post 53% growth in finance
Oman’s Islamic banks and window operations have shown a robust year-on-year growth of 53.09 per cent (or OMR744.3 million) in financing at OMR2,146.2 million by the end of July 2016, against OMR1,401

Development of local resources can help supplant copper imports
Rising copper imports fuelled by the growth of a burgeoning copper-based manufacturing sector could soon be supplanted by locally sourced metal mined and processed in Oman, according to a top executi

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?