Topic: Hong Kong

Shares of Hong Kong developer Chinese Estates Holdings slid 8 percent in resumed trade on Friday after the company said its chairman and chief executive would face prosecution in a Macau court over alleged bribery and money laundering.

Asian shares inched higher on Friday, helped by a slight uptick in U.S. shares overnight that encouraged investors to return cautiously to buy up bargains after recent slides, but weak global data and Europe's fiscal woes limited the gains.

Macau gaming stocks have fallen out of favor, with the major names sliding an average of 20 percent since the beginning of May on worries about a sharp slowdown in gambling revenues. But, according to analysts at Nomura, the correction may be close to an end and the recent drop could present an attractive buying opportunity.

Joseph Lau, the flamboyant tycoon who heads developer Chinese Estates Holdings, will face prosecution over bribery and money laundering in a land deal in Asia's gambling capital, Macau, the second high-profile corruption case involving a Hong Kong property company in two months. 

Asian shares eased on Thursday as markets were vulnerable to faltering factory orders in China and lack of concrete measures shown by European leaders to tackle the risk of Greece leaving the currency bloc.

Lenovo Group, the world's No.2 PC maker by sales, reported a 59 percent rise in fourth-quarter net profit, meeting analyst expectations as strong demand in emerging markets such as China offset weakness in Europe.

Asian shares retreated on Wednesday as hopes for fresh measures to tackle euro zone debt faded and caution set in ahead of a meeting of European leaders, with renewed fears Greece would leave the euro bloc dampening appetite for riskier assets.

Asian markets kept gains on Tuesday after reclaiming some ground to move off lows for the year the day before, as hopes grew that Europe would embark on fresh action to address its debt crisis while promoting growth.

London-based luxury jeweler Graff Diamonds, which kicked off its initial public offering (IPO) roadshow on Monday, is expected to get a weak response from investors due to its “risky” business model and lack of brand awareness in Asia, market experts told CNBC.

Asian markets recovered some ground on Monday after last week's heavy losses, but investors remained wary about the euro zone despite world leaders calling for Greece to stay in the monetary union and for Europe to balance austerity with growth.

High-end jeweler Graff Diamonds is forging ahead with an initial public offering to raise up to $1 billion, setting a price range on Friday for its Hong Kong flotation despite a sell-off in equity markets.

Hong Kong residents have been complaining about the rising cost of living, especially the fare hikes for the Mass Transit Railway, but are the complaints justified?

Manulife Financial and Metlife are among the companies that have submitted first round bids for ING's entire Asia life insurance business, sources said on Saturday, in what could be the largest Asia M&A insurance deal ever.

Asian shares ended lower on Friday as concerns about the global economic outlook grew due to an escalating banking crisis in Spain and political uncertainty in Greece that has fueled concerns of a euro zone break-up. 

Asian shares recovered some ground on Thursday from the previous day's sell-off, but investors found little reason to chase risk amid deepening turmoil in Greece and fears of contagion to other stressed euro zone economies.