South Korea’s government said 290 people are missing after a ferry carrying hundreds of high school students sank en route to the resort island of Jeju, in what may be the nation’s worst ferry accident in two decades.
Nguyen Duc Kien, a founder of Asia Commercial Bank, pleaded not guilty to fraudulently taking assets, tax evasion and other crimes that partly caused losses the Vietnamese lender estimates at 8.67 trillion dong ($411 million).
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.
Palm oil production in Southeast Asia, the largest growing region, is at increasing risk from the probable onset of an El Nino later this year after estates were already hurt by dryness in the first quarter. Prices advanced.
CapitaMalls Asia, Singapore’s largest mall operator, had the biggest gain since going public in 2009 after CapitaLand Ltd. offered to buy the rest of its mall unit to consolidate some businesses and boost returns.