Alibaba Group Holding Ltd. agreed to pay 1.2 billion yuan ($192 million) for a stake in China’s most popular soccer team in a deal struck over drinks between founder Jack Ma and fellow billionaire Hui Ka Yan.
Most emerging-market stocks fell as NCsoft Corp. led a drop in technology firms and Chinese property developers sank. Brazil’s Ibovespa entered a bull market amid speculation President Dilma Rousseff won’t be re-elected.
China’s stocks fell, dragging the benchmark index to its lowest level this month, as consumer companies and property developers sank after a private services index declined and concern mounted that home sales are slowing.
Evergrande Real Estate Group Ltd., China’s third-biggest developer by area sold, rose to the highest in 13 months in Hong Kong trading as investors welcomed the company’s dividend and full-year earnings beat estimates.
Evergrande Real Estate Group Ltd., China’s third-biggest developer by area sold, said 2013 earnings rose 66 percent after it sold and completed more properties as the government didn’t add to nationwide curbs.