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.
Asian stocks rose for a second day after U.S. industrial production increased more than forecast in March and Federal Reserve Chair Janet Yellen said the central bank remains committed to supporting the economic recovery.
Workers at Yue Yuen Industrial Holdings Ltd.’s shoe factory in China struck for a fourth day in a dispute over company benefit contributions, crimping output at the maker for brands such as Nike Inc. and Adidas AG.
Hong Kong stocks rose, with the benchmark index gaining for a second day, after better-than- expected U.S. industrial production boosted optimism in the world’s largest economy. Citic Pacific Ltd. led declines after agreeing to buy its parent’s financial assets.
Asian stocks rose for the first time in four days amid a rally in telecommunication shares and as investors weighed prospects for stimulus after China’s economic growth slowed to the weakest pace in six quarters.
China Southern Airlines Co., the nation’s third-largest carrier, estimated a loss in the first quarter, compared with a profit in the same period last year, as a weaker yuan caused foreign-exchange losses.
Asian stocks slipped to a two-week low as Chinese equities tumbled after a report showed the slowest increase in the nation’s money supply on record, underscoring risks of a deepening slowdown in the world’s second-biggest economy.
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.