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Around the World's Markets: Hong Kong

THE CHAIRMAN of Korean Air Lines, Cho Yang-ho, 50, was arrested on charges of $55m tax evasion yesterday - the latest development of a long-running investigation into the giant Hanjin Group.

The news of the arrest came too late to affect the stock market, which closed higher on eased liquidity risks.

The benchmark index closed at 938.76, up 0.92 per cent, or 8.66 points, after hitting an intraday high of 968.57.