Hong Kong stocks dropped, dragging the city’s benchmark index down to its lowest level since July, as casino companies tumbled on signs of a slowdown in Macau gambling revenue and property developers declined.
Hong Kong stocks rose, with the city’s benchmark index heading for a second daily gain, as the International Monetary Fund said it will raise its global economic growth forecast and the U.S. trade deficit narrowed.
AU Optronics Corp. executive Steven Leung was a key part of a liquid-crystal display screen price- fixing conspiracy that has yielded a $500 million penalty against the company, prosecutors said as Leung’s retrial began.
Hutchison Whampoa Ltd., controlled by Asia’s richest man Li Ka-shing, picked Bank of America Corp., Goldman Sachs Group Inc. and HSBC Holdings Plc to work on an initial public offering of its retail arm, said two people with knowledge of the matter. The stock rose.
U.S. Securities and Exchange Commission Chairman Mary Schapiro, who took the agency’s helm in 2009 as it reeled from public rebukes for failing to rein in Wall Street abuses, is leaving the agency next month.