An explosion has struck a Hong Kong-flagged container ship traveling north through the Red Sea, sparking a major fire that forced its crew to abandon the vessel.

The crew of the Hong Kong-flagged container ship ASL Bauhinia have left the vessel following a fire, according a Tuesday report by Reuters. The cause of the fire, which occurred Tuesday, remains unclear.

Property developer China Vanke's Hong Kong shares firmed on Tuesday following a change of top management that reinforced government support for the company to contain its liquidity risks. State-backed China Vanke said on Monday that Chairman Yu Liang and CEO Zhu Jiusheng have stepped down,

Support for Vanke could see banks extend loans, reduce discounts on asset sales and boost homebuyers’ confidence, CGS’ Raymond Cheng says.

Fire breaks out on an Air Busan A321 bound for Hong Kong at Gimhae International Airport in Busan, South Korea. At around 10:30 p.m. on Tuesday, a fire broke out in the tail section of the aircraft. All 170 passengers and crew evacuated, and there were no casualties,… pic.twitter.com/GqzIkrUx85

A fire broke out in the tail section of an Air Busan A321 aircraft at Gimhae International Airport in Busan, South Korea, at around 10:30 p.m. on Tuesday. 1 All 170 passengers and