Hong Kong's third-richest man owns 89.5 percent of Chow Tai Fook Jewellery Group, the largest jeweler in China and Hong Kong. Through Chow Tai Fook Enterprises, his closely held investment company, Cheng also controls New World Development Co., a land developer with holdings in hotels, retail, infrastructure and public transportation.
Chow Tai Fook Jewellery Group Ltd., the world’s largest listed jewelry chain, and other gold shops in Shanghai are being probed by Chinese regulators for price manipulation amid increased scrutiny of consumer-goods prices.
Asian stocks rose, with the regional benchmark index capping its biggest weekly advance since April, after the U.S. and Japanese central banks signaled they will maintain measures to boost their economies.
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
New World Development Co., the Hong Kong builder controlled by billionaire Cheng Yu-tung, received permission from the city’s stock exchange to proceed with the separate listing of the company’s local hotels.