Guangzhou R&F Properties Co., a landlord in the southern Chinese city’s business district, will pay 4.5 billion ringgit ($1.4 billion) for six sites in Malaysia from a royal family, marking its first acquisition abroad.
Asian stocks fell, trimming the best two-month rally for the regional benchmark gauge since the start of 2012, after the Federal Reserve fueled bets it may start paring stimulus sooner than previously forecast.
Asian stocks rose this week, sending the benchmark index to its biggest advance in three weeks, amid optimism U.S. lawmakers would make a deal to raise the nation’s borrowing cap and avert a default. Japanese shares advanced as the yen weakened.
Country Garden Holdings Co., controlled by China’s richest woman Yang Huiyan, rose to the highest in more than five years in Hong Kong trading after it exceeded its 2013 property sales target by the end of September.
Asian stocks outside Japan declined, led by material producers and developers, on concern policy makers in China will step up efforts to cool the property market and as Hong Kong banks raised mortgage rates.
Longfor Properties Co. Chairwoman Wu Yajun is no longer China’s richest woman after divorcing Cai Kui and transferring about 40 percent of the developer’s shares the couple used to own to her ex-husband.
Most Asian stocks dropped on concern Cyprus’s bank-restructuring plan will be used for other European nations, imperiling depositors and bondholders, and on a report China is stepping up property curbs.