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Asia Top News and Analysis China

  • WASHINGTON-- Companies are holding off on purchases of computers, industrial equipment and other long-lasting manufactured goods, a trend that's slowing the U.S. economy. A fourth straight month of lackluster corporate spending led many economists on Thursday to trim their forecasts for growth in the July-September quarter.

  • Wheat was down 0.5 percent, erasing earlier gains due to a lack of buying interest following Wednesday's nearly 2 percent price rally in response to news Ukraine would ban wheat exports from Nov. 15.

  • NEW YORK-- A weak showing in home sales and a mixed batch of earnings reports kept the stock market flipping between minor gains and losses on Wall Street.

  • *P&G profit of $1.06/ share tops expectations of 96 cents. Oct 25- Procter& Gamble Co's profit rose more than expected, indicating that the world's largest household products maker is making progress after coming under pressure from activist investor William Ackman, and its shares soared to the highest level in four years.

  • WASHINGTON, Oct 25- U.S. business investment showed signs of stalling in September, an indication that worries over a possible sharp tightening in the federal budget are already weighing on the economy.

  • *Shares in Hong Kong more than halved this year. HONG KONG, Oct 25- ZTE Corp, the world's fourth-biggest maker of mobile phones and fifth-ranked telecommunications equipment manufacturer, reported its first quarterly loss- of $310 million- since listing in Hong Kong in 2004, on shredded margins, project delays and accounting changes in China.

  • PRICE SUPPORT: China's biggest rare earths producer has suspended production in an effort to shore up plunging prices of the material, which is used by makers of mobile phones and other high-tech products. UNCERTAINTY: The state-owned company, Baotou Steel Rare Earth Hi-tech Co., gave no indication when production would resume.

  • NEW YORK, Oct 25- Global shares and commodity prices rose on Thursday, pulled from a recent slide by encouraging news from Britain and China and as U.S. data helped lift investors' appetite for risk assets while not flagging any big concerns. Wall Street opened higher, following gains in European equity markets, and the dollar gained slightly against the euro.

  • Chief Financial Officer Clay Williams characterized it as North America playing defense, while the rest of the world played offense. He said the company was building out facilities in Brazil, while selling more well stimulation equipment into the Middle East, China and Russia.

  • WINDING ROAD: Hyundai's took a hit to its third-quarter profit after strikes in South Korea limited vehicle production, but its stock jumped after the carmaker said annual output would exceed forecasts.

  • *McKesson to acquire PSS World Medical. *Procter& Gamble climbs after results. NEW YORK, Oct 25- U.S. stocks advanced on Thursday, putting the S&P 500 on track to rebound from its worst five-day performance in five months, on optimism the economies of both the U.S. and China may be recovering.

  • *Q3 FF0 $1.99/ share vs Street view $1.92. Oct 25- Simon Property Group Inc reported a 19 percent increase in a key earnings measure Thursday on higher rents and sales at its malls and outlet centers, easily beating estimates, and the real estate investment trust raised its outlook for the year.

  • NEW YORK, Oct 25- U.S. stocks opened higher on Thursday on optimism the economies of both the U.S. and China may be recovering. Jobless claims fell by 23,000 in the latest week while the Ministry of Industry and Information Technology said China's factory output should grow faster sequentially in the fourth quarter.

  • Sees' 12 EPS $2.91- $2.96/ shr; Prior view was $2.95- $3.05/ shr. Oct 25- Mead Johnson Nutrition Co reported quarterly profit slightly below analysts' expectations and cut its full-year outlook, hurt by a slowdown in China, sending shares about 4 percent lower in premarket trading.

  • WASHINGTON, Oct 25- A gauge of planned U.S. business spending was flat in September, a sign that heightened uncertainty is weighing on factories although new orders for long-lasting manufactured goods increased during the month.

  • *McKesson to acquire PSS World Medical. *Procter& Gamble climbs after results. NEW YORK, Oct 25- U.S. stocks were poised for a higher open on Thursday, indicating the S&P 500 may rebound from its worst five-day slide in five months, on optimism the economies of both the U.S. and China may be recovering.

  • China’s economy could be seriously impacted by four serious issues, Nathan Sandler of ICE Canyon said Thursday on CNBC.

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  • Oct 25- Mead Johnson Nutrition Co reported lower quarterly profit on Thursday and cut its full-year outlook, hurt by a slowdown in China. The maker of Enfamil baby formula said it now expected 2012 earnings of $2.91 to $2.96 per share, down from its prior forecast of $2.95 to $3.05.