The iShares MSCI Emerging Markets Index rebounded from a four-week low after data showing a slowdown in China’s expansion bolstered speculation the government will take further steps to stimulate economic growth.
Global stocks gained, with the Standard & Poor’s 500 Index climbing for a third day, as companies from Tesco Plc to Yahoo! Inc. and Intel Corp. jumped on earnings and U.S. industrial production increased. Oil and copper rose, while the pound strengthened.
Alibaba Group Holding Ltd. is planning to award about one-third of the fees for its initial public offering in the form of incentive bonuses to coax better performance from underwriters, people with knowledge of the matter said.
Hong Kong’s Citic Pacific Ltd. agreed to pay 226.9 billion yuan ($36 billion) to buy Chinese banking and brokerage assets from its state-owned parent, underscoring China’s push to loosen control over the economy.
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.
Wynn Resorts Ltd. and its Macau unit led declines among casino operators with resorts in the Asian gambling hub after an analyst said reduced borrowing in China may lead to a drop in bets by high rollers.
Hong Kong Exchanges & Clearing Ltd. Chief Executive Officer Charles Li is said to be picking coal for his company’s first energy product a year after paying a record price for the world’s top metals bourse.