Hong Kong stocks rose, with the city’s benchmark index heading toward the highest close since February, as HSBC Holdings Plc led banks higher after beating earnings estimates and Chinese exports accelerated.
You may recall that a few weeks back, I declared that the presidential election was over, as a result of Mitt Romney’s leaked 47 percent video. For a few minutes, that call looked quite smart. Barack Obama's campaign turned the video into an attack ad, the Romney campaign was fumbling for an explanation, and Obama widened his lead in the polls.
China’s clampdown on exports of rare earths essential for the electronics and new-energy industries may create a windfall for a handful of Western companies seeking to benefit from surging global demand.
New China Life Insurance Co., the state-backed insurer seeking as much as $2.3 billion in an initial public offering in Hong Kong and Shanghai, received enough orders to cover its institutional books for both listings, said two people with knowledge of the transaction.
American International Group Inc., the insurer that received bailout after the collapse of Lehman Brothers Holdings Inc., is selling $6 billion of AIA Group Ltd. shares to help pay back the U.S. government.