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Asia Top News and Analysis China

  • Asian shares rose on Thursday as signs of recovery in China and the United States eased fears of deteriorating global growth, though generally weak corporate earnings continued to make investors wary.

  • SHANGHAI, Oct 25- China's yuan hit the strong-side limit of its daily trading band on Thursday morning. Spot yuan hit 6.2417 versus the dollar at around 1:40 p.m., putting the dollar/yuan rate one percent below the central bank's midpoint of 6.3047.

  • SINGAPORE, Oct 25- Brent futures rose above $108 on Thursday as positive economic data out of the world's top oil consumer the United States revived hopes of a recovery in demand growth, although a worsening outlook for Europe capped gains.

  • *Yuan hits all time record high in morning trade. SHANGHAI, Oct 25- China's yuan touched its strongest ever level on Thursday and crept within a whisker of its strong-side limit, as dealers said short covering added to strong corporate demand for yuan. The People's Bank of China set its midpoint at 6.3047 on Thursday, moderately stronger than Wednesday's fix.

  • TOKYO, Oct 25- Asian shares inched up Thursday as signs of recovery in China and the United States eased fears of deteriorating global growth, though generally weak corporate earnings continued to make investors wary. The MSCI index of Asia-Pacific shares outside Japan, which fell the past four days, was up 0.1 percent.

  • *Hyundai shares up 3.2 pct in Seoul; down 13 pct this month. SEOUL, Oct 25- South Korea's Hyundai Motor Co reported July-September net profit of $1.97 billion, up 13 percent on last year and in line with market forecasts, with growth held back by labour strikes in South Korea even as overseas sales rose.

  • BANGKOK-- World stock markets mostly rose Thursday as investors kept their sights on a possible improvement in China's economy. Britain's FTSE rose 0.5 percent to 5,836.92. Wall Street appeared headed for a day of gains, with Dow Jones industrial futures rising 0.4 percent to 13,078 and S&P 500 futures adding 0.6 percent to 1,413.20.

  • *CNOOC up 1.4 pct after positive Q3 earnings. *Citic Bank slides 3.2 pct after proposed $235 million stake sale.

  • *Yuan hits all time record high in morning trade. Oct 25- China's yuan touched its strongest ever level on Thursday and crept within a whisker of its strong-side limit, as dealers said short covering added to strong corporate demand for yuan. The People's Bank of China set its midpoint at 6.3047 on Thursday, moderately stronger than Wednesday's fix.

  • BEIJING, Oct 25- China's factory output should grow faster in the last three months of 2012 than in the third quarter, though the recovery remains clouded by uncertainty in export markets, the Ministry of Industry and Information Technology said on Thursday.

  • SINGAPORE, Oct 25- Brent futures rose above $108 on Thursday as positive economic data out of the world's top oil consumer, the United States, revived hopes of a recovery in demand growth, although a worsening outlook for Europe capped gains.

  • FRANKFURT, Germany-- BASF SE saw third-quarter profits fall 21 percent as its chemicals business suffered from lower demand, as well as from troubles at a key Texas facility. However, stronger oil sales helped soften the blow, now that the company's facilities in Libya are working again after being shut down last year during the civil war.

  • Adapt Now: Japan Firms Heed Message in China Dispute

    Japanese companies, bearing the brunt of the economic fallout from a territorial dispute between China and Japan, appear to be heeding one message from the spat: adapt now or pay the price of a dispute that looks likely to rumble on for some time.

  • "Hyundai is set to recover its lost output during the third quarter with increased capacity in China, Brazil and the United States as well as in South Korea.

  • LAKE FOREST, Ill.-- Auto parts maker Tenneco Inc. reported a $125 million third-quarter profit Thursday, quadrupling its earnings from a year earlier thanks largely to a large tax gain. Tenneco said net income for the July-through-September period amounted to $2.05 per share and was up from $30 million, or 49 cents per share, in the third quarter of 2011..

  • Pulse Check on Chinese Economy: Strategist

    Kelvin Tay, Regional CIO, Southern APAC, UBS Wealth Management, says more RRR cut is unlikely to be on the near horizon because China's economy is holding up really well despite the limited easing that PBoC has done so far this year.

  • *China, Taiwan, Australian companies see dismal earnings. That compares to dreary corporate profits in China and others in the Asia-Pacific region, like Australia, that depended heavily on the now weakened buying power of major economies such as China.

  • *Vale puts Simandou mine project in Guinea on hold. RIO DE JANEIRO, Oct 24- Brazil's Vale SA, the world's No. 2 mining company, said on Wednesday that third-quarter profit fell 66 percent compared with a year earlier after the price of iron ore dropped to three-year lows.

  • *Vale puts Simandou mine project in Guinea on hold. RIO DE JANEIRO, Oct 24- Brazil's Vale SA, the world's No. 2 mining company, said on Wednesday that third-quarter profit fell 66 percent compared with a year earlier after the price of iron ore dropped to three-year lows.

  • BANGKOK-- Asian stock markets rose Thursday as investors kept their sights on a possible improvement in the Chinese economy. A key survey of Chinese manufacturing activity rose to a three-month high in October, easing concerns that China might experience an abrupt economic "hard landing" rather than a gradual slowdown.