Asia Top News and Analysis China

  • Oct 11- The U.S. Department of Agriculture has raised its 2012/ 13 global ending stock forecast for cotton to record highs for a third consecutive month, sending prices down and reinforcing concerns about weakening demand from China, the world's largest textile market.

  • BEIJING-- China's government has criticized steep U.S. tariffs imposed on Chinese-made solar panels as an improper trade barrier and warned they will hurt development of clean energy. The Commerce Ministry on Thursday called on Washington to repeal the tariffs.

  • *FTSE jumps 0.9 pct, snaps three-session losing streak. "FTSE back at the important 5,800 level after bouncing off support. If we can hold this level then we might just be about to hear people discussing a year-end rally, "said Lex van Dam, a partner at hedge fund Hampstead Capital, which manages around $500 million of assets.

  • Oct 11- Canadian Solar Inc:. *Says a final decision by the itc is expected on November 7, 2012. photovoltaic cells made in China.

  • KUALA LUMPUR, Oct 11- Malaysia's industrial production. Last week the government reported a 4.5 percent drop in August exports, the biggest year-on-year decline in nearly three years, pulled down by lower shipments to the European Union and China.

  • SHANGHAI, Oct 11- China's average daily crude steel output fell to 1.843 million tonnes between Sept 21-30, down 0.74 percent from the preceding 10 days, data from the China Iron& Steel Association showed on Thursday.

  • By Samuel Shen and Fayen Wong. SHANGHAI, Oct 11- Two Chinese fund houses have launched funds focused on the domestic commodities futures market as they look to tap into the burgeoning market that regulators have cautiously opened to local financial institutions this year.

  • KUALA LUMPUR, Oct 11- The global economic doldrums may have weighed on businesses around the world, but in Malaysia a luxury hand-crafted carmaker struggles to keep up with demand as orders pour in from China and the Middle East.

  • *Turkey, Syria fighting continues; Mideast tensions support oil. November Brent crude rose 52 cents to $114.85 a barrel by 0319 GMT after a volatile session on Wednesday that saw the contract rising to $115.59, its highest since Sept. 17, before settling down slightly.

  • *Turkey warns Syria about cross-border shelling. Oil markets, which have been balancing concerns of lower global fuel demand against the risk of supply disruptions in the Middle East and loading delays of crude from the North Sea, also.

  • *Asian shares tracked Wall Street lower on Thursday as weak forecasts from U.S. corporate bellwethers underscored concern over global demand, particularly from China, and kept oil and other commodity prices under pressure.

  • *The S&P 500 fell for a fourth day on Wednesday, weighed down by disappointing news from Chevron and Alcoa. *World Steel Association, a group representing global steel producers, holds a 2- day annual conference in New Delhi. *India's telecoms minister will attend a event organised by the mobile tower industry in New Delhi.

  • BANGKOK-- Asian stock markets fell Thursday after Spain, the fourth-largest euro economy, was slapped with a two-notch credit downgrade and the U.S. earnings season opened with a whimper.

  • *Nifty futures on the Singapore Exchange. *Asian shares tracked Wall Street lower on Thursday as weak forecasts from U.S. corporate bellwethers underscored concern over global demand, particularly from China, and kept oil and other commodity prices under pressure.

  • HONG KONG Oct. 11, 2012-- Standard& Poor's Ratings Services today assigned its' BB' issue rating to a proposed issue of U.S.-dollar-denominated seven-year senior unsecured notes by Longfor Properties Co. Ltd.. At the same time, we assigned our' cnBBB' Greater China regional scale rating to the proposed notes.

  • Mitsui Fudosan Co Ltd slipped 1.2 percent to 1,552 yen after trading as low as 1,518 yen, while Mitsubishi Estate Co Ltd eased 1.1 percent to 1,518 yen after falling as much as 1,488 yen. Yaskawa Electric Corp slipped 0.8 percent to 509 yen after J.P. Morgan lowered its price target on the electric motor maker to 575 yen from 660, citing weak market conditions.

  • *KDDI climbs after J.P. Morgan lifts price target. TOKYO, Oct 11- Japan's Nikkei average fell to its lowest in two months on Thursday, losing ground for a third straight day on mounting concerns that upcoming quarterly corporate earnings will be weak after the U.S. results season got off to a slow start.

  • *S&P downgrades Spain; Brazil and South Korea cut rates. TOKYO, Oct 11- The IMF prodded the world's rich countries for swifter action on Thursday as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.

  • *Lenovo shares rise nearly 2 pct in Hong Kong trade. SAN FRANCISCO/ HONG KONG, Oct 11- China's Lenovo Group Ltd edged out Silicon Valley icon Hewlett-Packard Co to become the world's No. 1 PC maker in the third quarter, according to data released by research house Gartner on Wednesday.

  • OTTAWA, Oct 10- Canada should allow China's state-owned CNOOC Ltd to buy Canadian oil company Nexen Inc, a former central bank chief said on Wednesday, brushing aside arguments that oil is a "strategic" resource off-limits to foreigners.