Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. agreed to sell a 25 percent stake in its retail arm to Temasek Holdings Pte for HK$44 billion ($5.7 billion) and pushed back plans for an initial public offering for the unit.
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.
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.
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.