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Hong Kong regulators probe UBS on initial public offerings

HONG KONG (AP) ? Swiss bank UBS said Friday that Hong Kong regulators are investigating its work on some initial public offerings on the southern Chinese financial center's stock market.

Drugmaker Sanofi hungry for deals after earnings beat

A logo is seen in front of the entrance at the headquarters of French drugmaker Sanofi in ParisFrench drugmaker Sanofi stepped up its overhaul on Friday, putting its European generic drugs business up for sale and saying that a planned 3.5 billion euro (3 billion pounds) share buyback would not suppress its appetite for deals. Sanofi's announcement came as it posted better than expected earnings and lifted its profit guidance for the year on strong growth at its biotech arm Genzyme and an early start to the U.S. flu vaccine season. Sanofi now expects 2016 adjusted earnings per share to grow by 3 percent to 5 percent at constant exchange rates, having previously said they would be broadly flat.

Asia markets end week on low but Tokyo up on weak yen

Japanese stocks have risen on a weaker yen as another feeble inflation reading puts fresh pressure on TokyoMost Asian markets headed into the weekend on a dour note following a Wall Street sell-off Friday, but Japanese stocks were again boosted by a weaker yen as another feeble inflation reading put fresh pressure on Tokyo.

Hong Kong regulator probes UBS's role as sponsor of certain IPOs

By Denny Thomas and Michelle Price HONG KONG (Reuters) - Swiss bank UBS said Hong Kong's securities regulator is investigating its role as sponsor of certain unnamed stock market listings in the city, with the intention to start unspecified action against the bank and some of its employees. The disclosure by UBS, released with its third-quarter financial results, made it the first major bank to say it was being probed since Hong Kong's Securities and Futures Commission (SFC) introduced tougher rules for listing sponsors. The SFC's scope for action means UBS could face financial penalties, and may even be stripped of its ability to provide corporate finance advisory services in Hong Kong for a period of time.

Asian markets mixed following better-than-expected post-Brexit UK GDP data

Asian markets mixed following better-than-expected post-Brexit UK GDP dataWhile Asian stock market indices were trading mixed on Friday (28 October), the Shanghai Composite was down 0.18% at 3,106.87, as of 6.46am GMT. This followed UK reporting better-than-expected GDP overnight.

DIARY-Hong Kong corporate earnings week ahead

Oct 28 (Reuters) - Diary of Hong Kong (.HSI) corporate earnings for the week ahead HONG KONG EARNINGS Start Date Start Time RIC Company Event Name (GMT) 02-Nov-2016 NTS 0388.HK Hong Kong Exchanges and Clearing Ltd Q3 2016 Hong Kong Exchanges and Clearing Ltd Earnings Release 03-Nov-2016 NTS 0992.HK Lenovo Group Ltd Q2 2017 Lenovo Group Ltd Earnings Release ** All times are listed in AMC - 'After market close', or BMO - 'Before market opens', or DBH - 'During business hours', orNTS - 'No time scheduled'** This Diary does not provide the EPS estimate figures. ...

GLOBAL MARKETS-Dollar, bond yields stand tall on enhanced Fed rate hike prospects

TOKYO, Oct (Shenzhen: 000069.SZ - news) 28 (Reuters) - The dollar stood near a three-month high against the yen on Friday after increased chances for a near-term U.S. interest rate hike boosted Treasury yields that had already gained in the wake of a surge in British and euro zone yields. Upbeat U.S. data including jobless claims, manufacturing activity and pending home sales strengthened the case for the Federal Reserve to raise rates by the year-end and lifted Treasury yields. Asian stocks were subdued, with MSCI (NYSE: MSCI - news) 's broadest index of Asia-Pacific shares outside Japan edging down 0.l percent, reflecting Wall Street's unconvincing performance overnight.

Petronas decision on Rapid deal with Aramco in Dec?

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) is said to be making a final investment decision in December to partner with Saudi Arabian Oil Co (Saudi Aramco) by offering a 50 per cent stake in its refinery and petrochemical integrated development project (Rapid) in Johor. According to the Wall Street Journal (WSJ) report yesterday, if Petronas proceeds with the plan, the two companies will set up a joint-venture company in the first quarter of next year to run the project, with the refinery due to start operating in early 2019. WSJ said the entry of Saudi Aramco into the project would be a coup for Petronas.
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