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Hong Kong arrests 29 in corruption probe linked to four banks

Hong Kong arrested 29 current and former staff of five financial institutions, including four banks, for alleged bribery connected with obtaining confidential customer information to market personal loans, the city’s anti-graft agency said. Operation “Mirabilis” began last Tuesday and led to the arrests of three managers and 18 serving and former direct sales representatives of a bank, the Independent Commission Against Corruption said in a statement on Monday. A manager and five current and former employees of three other banks, and two employees of a finance company were also detained,Read More

Chinese shares lead gains for major Asian bourses, shrugging off MSCI snub

Chinese markets led gains in a mixed session for major Asian bourses on Wednesday, shrugging off a decision by stock index provider MSCI on Tuesday to delay inclusion of mainland-traded Chinese A shares in its key emerging market index. Most other Asian markets also reversed morning losses, despite continued jitters over the possibility the U.K. may opt to exit theEuropean Union as well as concerns over the outcome of the Fedmeeting, due later, and the Bank of Japan’s meeting ending Thursday. The Shanghai composite and the Shenzhen composite each erasedRead More