Japanese exchange-traded funds, the most popular ETFs in the world this year, fell in U.S. trading as the Topix index posted the biggest drop since the aftermath of the March 2011 tsunami and nuclear disaster.
Sony Corp. directors are discussing whether to adopt billionaire Daniel Loeb’s proposal for an initial public offering of its entertainment business, a week after the TV maker said the assets weren’t for sale.
Suntech Power Holdings Co., owner of the Chinese solar manufacturer forced into bankruptcy in March, agreed to sell a project and discounted panels to Shunfeng Photovoltaic International Ltd. for 93 million yuan ($15.2 million).
Chinese stocks retreated in New York from the highest level in three months, led by Huaneng Power International Inc., as concern increased over a slowdown in Asia’s largest economy after UBS AG cut its growth forecast.
Chinese equities rose to the highest level in three months in New York as Pactera Technology International Ltd. jumped after receiving a proposal to go private and Qihoo 360 Technology Co. climbed to a record high on a stronger-than-estimated sales forecast.