IN BRIEF

Sinochem eyes pre-IPO stake sale

Sinochem Group, a State-owned oil and chemicals producer, has hired investment banks to arrange a stake sale to outside investors ahead of a potential initial public offering, according to sources. The Beijing-based company is seeking to raise funds and diversify its investor base, the sources said. Sinochem is planning a stock-market listing of the entire group in the medium to long term. Sinochem's move is in line with the government's goal of introducing private investors into State-owned enterprises, a process known as mixed-ownership reform, the sources said.

Unemployment drops in Japan

Japan's unemployment rate dropped to 2.8 percent in February from a month earlier, marking a 22-year low, government data released on Friday showed. Separate data from the Ministry of Health, Labor and Welfare showed that the job availability ratio in Japan stood at 1.43 in February, unchanged from January. This means that for every 100 job seekers there were 143 positions available.

House prices up, lift NZ worth

Soaring house prices helped drive up New Zealand's net worth by 9 percent to NZ$1.39 trillion ($972.72 billion) in March 2015, the government statistics agency said on Friday. Except for a 3 percent decline in 2009, net worth has grown steadily from just over NZ$1 trillion in 2007, said a statement from Statistics New Zealand. From 2007 to 2015, household net worth rose by 35 percent to about NZ$1.23 billion.

Agencies