Chow Tai Fook Jewellery Group Ltd. and New China Life Insurance Co. dropped in gray-market trading ahead of their debuts in Hong Kong as concern over slowing growth in China sapped stocks for a fifth straight day.
Options to protect against declines in Chinese stocks are the most expensive in four years as traders lose confidence in forecasts for a rally by Credit Suisse Group AG, Morgan Stanley and Deutsche Bank AG.
Standard Chartered Bank Ltd. urged a Hong Kong judge to throw out a local beauty tycoon’s lawsuit, with the bank’s lawyer claiming the business owner didn’t suffer any losses on her Lehman Brothers-related investment.
Agricultural Bank of China Ltd. has about 350 million reasons why investors might want to buy into what could be the world’s largest initial public offering, and construction worker Zhao Qiang is one of them.
A Hong Kong court dismissed a local beauty tycoon’s claims against Standard Chartered Bank Ltd. over investments related to bankrupt Lehman Brothers Holdings Inc. because she didn’t suffer any direct losses.