China’s anti-corruption agency is investigating the chairman of China Resources Holdings Co. after domestic media repeated accusations a unit of the state-owned company deliberately overpaid for coal assets.
Hong Kong stocks slid, with the benchmark index capping the biggest decline in almost a month, after data showed China’s new credit fell in March from a year earlier and money supply grew at the slowest pace on record.
Asian stocks rose, with the regional benchmark index posting its longest winning streak in seven weeks, after an increase in U.S. manufacturing boosted optimism about growth in the world’s biggest economy.
China Resources Enterprise Ltd., the country’s second-biggest hypermarket operator, posted profit that missed analyst estimates, saying a “slowdown in growth momentum” in the economy weighed on demand.
Kingfisher Plc, Europe’s largest home-improvement retailer, said its main markets are set to rebound this year, giving it confidence to expand into new areas and start a program of cash returns to shareholders.
Anadolu Endustri Holding AS is considering buying a stake in a combination of Tesco Plc’s Turkish operations and Migros stores as the company looks to expand beyond beverages, said people familiar with the matter.
Some 66 percent of new Chinese developer dollar-denominated bonds sold this year are trading below their issue price amid the collapse of a private real estate company and news the housing market is cooling.