Sun Hung Kai Properties Ltd., Hong Kong’s second-biggest developer by value, more than doubled the size of its syndicated loan to HK$13.8 billion ($1.78 billion) on strong demand from lenders, according to three people familiar with the matter.
Asian stocks fell this week, with the regional benchmark gauge declining the most since August, amid concern improving U.S. economic data will spur the Federal Reserve to pare stimulus as soon as this month.
European stocks posted their biggest weekly decline since June as better-than-estimated U.S. economic reports spurred speculation that the Federal Reserve will begin cutting stimulus measures sooner than forecast.
Standard Chartered Plc said wealthy clients’ confidential information was stolen in Singapore from a printing company, underscoring the vulnerability of global banks to attacks from hackers and thieves.
Asian stocks fell, with the regional benchmark index declining to a three-week low, amid concern signs of improvement in the U.S. jobs market will prompt the Federal Reserve to bring forward cuts to stimulus.
Standard Chartered Plc slumped to the lowest in three months in Hong Kong trading after the lender said full-year operating profit at its consumer-banking unit will drop at least 10 percent, hurt by its Korean business.
Standard Chartered Plc, the U.K. lender that makes about three-quarters of its earnings in Asia, may end 11 years of record profits as a loss at the Korean unit undermines revenue at the consumer-banking division.
Hong Kong stocks fell, with the benchmark index heading for a two-week low, as lenders led declines. Standard Chartered Plc plunged after saying operating profit at its consumer-banking unit will drop.