Chu Kin-lan has already shuttered six of 11 offices of her Hong Kong real estate agency, whose Chinese name translates as Precious Prosperity, and let go half of her 70 employees amid the city’s toughest curbs on home buying in its history. The worst pain may be still to come.
Li Ka-shing is buying the fewest shares of his flagship Cheung Kong Holdings Ltd. in at least eight years as he considers selling assets in Hong Kong, the city that helped make him Asia’s richest person.
Chinese solar manufacturers rallied in New York, led by Suntech Power Holdings Co., on a report that billionaire Warren Buffett may be interested in buying the company forced into bankruptcy after defaulting on debt.
Alibaba Group Holding Ltd. has asked Hong Kong’s stock exchange to let its partners nominate a majority of the e-commerce giant’s board, said a person with knowledge of the matter, a move that would keep executives in control if the company lists in the city.