Asia Top News and Analysis China


  • *Morning floor trading planned to capture Asian business* Ring floor may be expanded for new members, extra staff* First major move by LME's new owner By Josephine Mason and Susan Thomas.

  • --Hong Kong- based Hang Seng has slowed its loan growth and strengthened its capitalization over the past two years. --Our stable outlook reflects the bank's ongoing government support, its status as a core subsidiary of HSBC, and a lack of meaningful pressure on the SACP.

  • CEO of long-delayed giant Mongolian coal project quits Thursday, 11 Oct 2012 | 6:12 AM ET

    ULAN BATOR, Oct 11- The head of the state-owned company charged with developing Mongolia's long-delayed Tavan Tolgoi coal project in the South Gobi region resigned on Thursday, raising hopes that a new CEO may hasten the launch of the massive mine. Enebish will be replaced by Batsuur Yaichil, a former member of parliament with the ruling Democratic Party.

  • Indian shares gain; Infosys rises ahead of earnings Thursday, 11 Oct 2012 | 6:04 AM ET

    *Unitech surges after settlement with Telenor. MUMBAI, Oct 11- Indian shares rose on Thursday as expectations of better-than-expected earnings sent Infosys. and HDFC Bank higher a day before they report results.

  • *Research house IDC still ranks HP in the lead* Lenovo shares rise nearly 2 pct in Hong Kong trade* HP stock touches lowest level since October By Poornima Gupta and Lee Chyen Yee.

  • BEIJING, Oct 11- Top Chinese automaker SAIC Motor Corp said on Thursday its September auto sales climbed 4.6 percent from a year earlier to 393,986 vehicles. That pace was slower than 9.2 percent year-on-year growth achieved in August. SAIC operates car ventures with General Motors Co and Volkswagen AG.

  • LONDON, Oct 11- Turkish stocks hit 17- month highs on Thursday, shrugging off an escalating conflict with Syria as data showed an improving current account picture while the Czech crown lost 0.3 percent after comments by the central bank governor.

  • TOKYO, Oct. 11- Asian credit was ending the day on a positive note in spite of overnight negative headlines from Europe, which sent equity markets into a tailspin. Stock indices in Asia dropped with the Hang Seng ending down 0.8% and the Nikkei 0.58% lower.

  • --We expect China- based conglomerate Baosteel to demonstrate lackluster operating performances and to make increasing investments in 2012-2013, leading to weaker credit protection measures. At the same time, we are lowering our long-term Greater China regional scale ratings on Baosteel and its debt to' cnAA' from' cnAA+'.

  • UPDATE 3-Oil pushes higher on Syria tension Thursday, 11 Oct 2012 | 4:58 AM ET

    *Turkey, Syria fighting stokes worries about Mideast supply. LONDON, Oct 11- Brent crude oil headed for its highest close in a month on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products.

  • World stocks mixed after Spain gets downgrade Thursday, 11 Oct 2012 | 4:54 AM ET

    BANGKOK-- World stock markets were mixed Thursday, with Europe posting modest gains while Asia slumped after Spain, the fourth-largest euro economy, was slapped with a two-notch credit downgrade. Britain's FTSE 100 rose 0.2 percent to 5,791.79, Germany's DAX added 0.4 percent and France's CAC-40 advanced 0.3 percent to 3,375.40.

  • Turkmen Jan-Sept GDP rises 11.1 pct yr/yr - president Thursday, 11 Oct 2012 | 4:54 AM ET

    ASHGABAT, Oct 11- Turkmenistan's economy expanded by 11.1 percent in the first nine months of 2012, slowing from 14.6 percent in the same period a year ago, President Kurbanguly Berdymukhamedov was quoted as saying on Thursday. Turkmenistan's economic growth hinges on the development and exports of its natural gas riches.

  • HONG KONG, Oct 11- Hong Kong shares rose on Thursday as Chinese banks and infrastructure plays gained on expectations of more government support for the economy, offsetting weakness in local property developers. The Hang Seng rose 0.4 percent, with the index of top Hong Kong- listed mainland firms up 1.9 percent to be the day's best performing benchmark in Asia.

  • Burberry sales growth slows as demand drops Thursday, 11 Oct 2012 | 4:45 AM ET

    LONDON-- Luxury fashion house Burberry PLC, which issued a profit warning last month, says retail sales growth slowed in the second quarter as demand weakened in Britain and China. The company said sales at stores open more than a year rose 1 percent in the three months to Sept. 30, compared with 6 percent in the previous quarter.

  • TEXT-Indonesia holds benchmark rate at 5.75 pct Thursday, 11 Oct 2012 | 4:35 AM ET

    JAKARTA, Oct 11- Full text of Bank Indonesia's policy statement, translated by Reuters. Bank Indonesia will continue to strengthen coordination with government in managing domestic demand and improving balance of payments in line with the effort to maintain macroeconomic stability and sustain national economic growth.

  • U.S. stock futures signal flat to higher Wall St open Thursday, 11 Oct 2012 | 4:25 AM ET

    LONDON, Oct 11-* U.S. stock index futures pointed to a flat to higher open on Wall Street on Thursday, with futures for the S&P 500 rising 0.2 percent, the Dow Jones trading flat and the Nasdaq 100 gaining 0.3 percent.

  • Hong Kong shares gain on China strength, property weak Thursday, 11 Oct 2012 | 4:07 AM ET

    HONG KONG, Oct 11- Hong Kong shares ended higher on Thursday on the back of strength in Chinese banks and infrastructure stocks on hopes of stimulus measures, while local property developers were hit by profit-taking following their recent outperformance.

  • FRANKFURT, Oct 11- Economic growth in the euro zone economy is expected to remain weak and "high uncertainty" is weighing on confidence, the European Central Bank said on Thursday in its monthly bulletin, adding that inflation expectations remained firmly anchored.

  • SINGAPORE, Oct 11- Shanghai steel futures fell over 1 percent on Thursday after a three-day climb as the outlook for Chinese demand remained hazy despite recent gains in prices, while iron ore hit its highest since July as mills continued to replenish stockpiles.

  • China shares weak on profit-taking, autos weigh Thursday, 11 Oct 2012 | 3:05 AM ET

    Oct 11- China shares fell on Thursday as investors locked in gains in energy stocks and brokers after their strong run-up this week, while autos fell following lacklustre September vehicle sales. The CSI300 index of top Shanghai and Shenzhen listed companies fell 0.9 percent by the close while the Shanghai Composite fell 0.8 percent.