Asian stocks swung between gains and losses as the region’s benchmark equity index headed toward its biggest quarterly gain since 2010. Japanese manufacturers slid after the nation’s industrial production unexpectedly fell and investors waited for U.S. data on income and spending.
Industrial & Commercial Bank of China Ltd., the world’s most profitable lender, climbed 1.6 percent after posting earnings that exceeded estimates. Fanuc Corp. (6954), Japan’s biggest maker of factory robots, fell 2.3 percent. Sun Hung Kai Properties Ltd. (16), the world No. 2 real estate company, plunged 12 percent in Hong Kong after the firm’s co-chairmen were arrested in a corruption probe.
Mideast funds bullish on Kingdom, bearish on UAE
Middle East funds are heavily bullish toward Saudi Arabian stocks after news the market will open to direct foreign investment, while they are bearish on the United Arab Emirates because of concern
UAE and Egypt indices rise on earnings
Stock markets in the United Arab Emirates and Egypt rose on Thursday on the back of strong second-quarter earnings at banks and expectations for similar performances by real estate developers.
Bahrain remains investor-friendly
Bahrain's business environment continues to attract inward investment although there is increasing competition within the region, according to a new report.