Asian shares were mostly higher on Friday but were off session highs by the afternoon after upbeat U.S. economic data spurred a strong risk-on rally.» Read More
BANGKOK, June 25- Charoen Pokphand Foods Pcl, Thailand's largest agribusiness company, said it would slash its 5- year investment budget by a third to around $1.6 billion and pare back revenue targets as its foreign farms were performing below expectations.
HSBC is expected to announce a near $23 billion annual profit, with cost-cutting and restructuring ahead of schedule as Europe's biggest bank seeks to consign its U.S. troubles to the past.
A move by China's Ping An Bank to ban its regional branches from approving mortgages may signal that Beijing is set to tighten controls on the property market to calm prices.
Asian stocks closed mixed on Monday after Wall Street hit a five-year high in the previous session as strong economic data buoyed sentiment.
China approved the sale of HSBC's remaining $7.4 billion stake in Ping An Insurance to a group controlled by Thailand's richest man, completing the biggest equity purchase in the country by a foreign investor.
Asian shares ended mostly lower on Thursday, paring initial gains as investors cashed in their chips following recent rallies with demand also capped by caution ahead of Chinese data on Friday.
When a high-profile, billion dollar deal for a stake in a Chinese insurer was inked in early December, officials at the country's biggest policy bank were asking one question seemly unrelated to the transaction: Who is Xiao Jianhua? Caixin reports.
Japanese shares surged to multi-year highs on Tuesday on rising expectations that strong political pressure will prompt the Bank of Japan to deliver bold monetary easing measures. Meanwhile, other Asian stock markets struggled as gains were capped on earnings caution.
China's insurance regulator said it is seeking more information from Ping An Insurance after conducting a preliminary review of HSBC's planned sale of its $9.4 billion stake in the insurer to Thailand's CP Group.
Asian shares ended mixed on Wednesday after rounds of profit taking from a sharp rally at the start of the new year subsided, while investors waited warily for corporate earnings season to kick off in full force.
HSBC's sale of its $9.4 billion stake in Ping An Insurance to Thailand's CP Group has been thrown into jeopardy after state-run China Development Bank (CDB) voiced concerns over funding for the deal, sources told Reuters.
Asian shares fell on Tuesday as investors turned cautious after the new year's rallies, with corporate earnings season for the last quarter of 2012 looming and the European Central Bank's policy meeting due later in the week.
Asian shares ended mostly lower on Friday, tracking overnight weakness in global equities after several Fed officials expressed concerns about continuing to expand stimulative bond buying. But, Japanese stocks surged as the market played catch-up with the region on its first trading day of 2013.
Asian shares were mixed on Friday with a pick-up in China's manufacturing sector lending support but worries over the progress of U.S. budget talks to avert the "fiscal cliff" weighing on investor sentiment.
As more people in China get wealthier, many are looking for ways to better protect their health and belongings. CNBC's Eunice Yoon takes a look at the state of insurance in China.
Asian shares hit a 16-month high on Wednesday, led by surging Chinese equities on hopes for stable growth, but concerns over whether U.S. lawmakers can break a budget impasse before year-end to avert a possible economic slump kept optimism in check.
A group linked to Thailand's richest man, Dhanin Chearavanont, has bought global bank HSBC's entire stake in China's Ping An Insurance for $9.38 billion.
China's second-biggest insurance company has threatened to take legal action against the New York Times for reports that Premier Wen Jiabao's relatives had accumulated massive wealth, largely through holdings in the firm.
Chinese listed companies have reported a sharp rise in unpaid bills during the third quarter, in one of the clearest signs yet of the toll that China’s economic slowdown is taking on corporate balance sheets. The FT reports.
HONG KONG, Oct 26- Hong Kong shares snapped a 10- session winning streak on Friday, hit by a 7.6 percent slump in China Unicom after the country's second-largest mobile operator posted weaker-than-expected third-quarter profit.