Asia Top News and Analysis China


  • TOKYO, Oct 10- Toyota Motor Corp will recall 7.4 million vehicles globally, including certain Vitz, Yaris and Corolla models, due to malfunctioning power windows, the company said on Wednesday.

  • MELBOURNE, Oct 10- Australian shares slipped 0.3 percent on Wednesday, pulling back from 14- month highs after the IMF cut its growth forecasts for a second time, sending shares around most of the region lower. climbed 6 percent to $117.20 a tonne, its highest since Aug. 1, according to data provider Steel Index, taking gains to 12.5 percent over the past two days.

  • BANGKOK-- Worries about Europe's debt crisis, signs of weak global growth and expectations of lower U.S. corporate earnings sent most Asian stock markets down Wednesday.

  • SINGAPORE/ HONG KONG, Oct 10- Singapore has issued full banking licences to two Chinese lenders, moving it a step closer to getting a yuan-clearing bank that will let it compete more aggressively with Hong Kong in the growing market for yuan-denominated trades and financial products.

  • SINGAPORE, Oct 10- Chinese steel futures rose to two-month highs on Wednesday, driven by hopes of more stimulus measures from Beijing to aid a slowing economy and backing further gains in iron ore prices that have leapt by more than 12 percent in the past two days. The most briskly traded rebar contract for January delivery on the Shanghai Futures Exchange.

  • *NATO says plans in place to defend Turkey from Syria. SINGAPORE, Oct 10- Brent crude slipped near $114 on Wednesday after a jump of 2 percent the previous day, with a cloudy economic outlook offsetting fears about disruptions to Middle East oil supply as a conflict between Turkey and Syria escalated.

  • BEIJING, Oct 10- China will offer 2.5 billion yuan in loan subsidies to importers for purchases of advanced technological equipment, raw materials and other components, the Ministry of Finance said on Wednesday. Beijing has allocated a total of 9.5 billion yuan to offer interest discounts to importers since 2008, when the specialized fund was established.

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    Are this week's numbers from Taiwan showing a double-digit rise in September exports something to get excited about? Taiwan’s trade data, after all, are widely regarded as a leading indicator of the health of the world economy.

  • *Value of shipments lowest since December 2011. MANILA, Oct 10- The Philippine's annual exports fell by the most in eight months in August, casting doubt on the government's 2012 export growth goal and increasing the pressure on the central bank to ease policy further to support the trade-reliant economy.

  • BANGKOK/ SINGAPORE, October 10 Fitch Ratings Limited says Thailand's economic performance has continued to show resilience to global shocks but slower regional growth and increasing leverage in the corporate and bank sectors will constrain ratings.

  • SHANGHAI, Oct 10- China's key money rate plummeted on Wednesday as the cash from Tuesday's central bank fund injection hit the market and traders reported anaemic demand for liquidity. "Demand was pretty heavy yesterday, so the rate couldn't fall that much, but today no one is borrowing," said a trader at a joint-stock bank in Beijing.

  • *FTSE 100 down 0.6 percent. LONDON, Oct 10- Global growth worries prodded Britain's top share index lower on Wednesday as a failed merger with a French peer hurt shares in defence and aviation firm BAE Systems.

  • JOHANNESBURG, Oct 10- South African shares turned positive for the first time this week but Gold Fields and other bullion mining firms took a beating from a recovery in the local currency. Absa, the South African bank majority owned by Barclays, fell 2.8 percent to 134.60 rand.

  • SINGAPORE, Oct 10- Singapore's economy probably contracted in the third quarter due to weak global demand for its manufacturing exports, reinforcing expectations of policy easing by the central bank on Friday.

  • Europe is gripped by a debt crisis and stalled growth. A budget standoff in the United States is set to trigger tax increases and spending cuts and perhaps a recession. And it's warning that even its dimmer outlook might prove too optimistic if Europe and the United States fail to resolve their crises.

  • --Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, Oct 10- The job losses and cost-cutting at Australia's major iron ore producers show they are taking to heart the adage to never let a good crisis go to waste.

  • TOKYO-- China's central bank governor and finance minister won't be attending IMF and World Bank annual meetings in Tokyo this week, a Japanese official said Wednesday _ cancelations that come as the two Asian giants remain at odds over a cluster of tiny islands both claim.

  • *NATO says plans in place to defend Turkey from Syria. SINGAPORE, Oct 10- Brent crude slipped below $114 on Wednesday after a 2 percent jump the previous day, with a cloudy economic outlook offsetting fears about disruptions to Middle East oil supply as a conflict between Turkey and Syria escalated.

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    The International Monetary Fund said on Wednesday that China's central bank governor will not lead the Chinese delegation at the IMF's semi-annual meeting this week, in what appeared to be a snub to host Japan.

  • TOKYO, Oct 10- Japan's Nikkei average fell to a two-month low on Wednesday on concerns that upcoming corporate earnings for the latest quarter would be hurt by sluggish global growth, as the IMF cut its forecasts for the second time since April.