Asia Top News and Analysis China

  • SYDNEY, Oct 2- Australian shares rallied 1 percent on Tuesday to their highest close in five months after the central bank cut its main cash rate in a bid to bolster growth in the face of weak commodity prices and global uncertainty.

  • *Fed's Bernanke says U.S. growth too slow* Coming up: API weekly oil stocks; 2030 GMT By Luke Pachymuthu and Manolo Serapio Jr. SINGAPORE, Oct 2- Brent crude futures steadied near $112 a barrel on Tuesday as investors weighed a weaker outlook for demand due to a sluggish global economy against potential supply disruptions.

  • *Britain's FTSE 100 index is seen opening down 30 to 39 points, or as much as 0.7 percent, according to financial bookmakers. *European officials told Reuters late on Monday that Spain was ready to request a bailout for its public finances as early as next weekend, but Germany had signalled that it should hold off.

  • SYDNEY, Oct 2- Australian shares rallied 1 percent to their highest close in five months after Australia's central bank cut its main cash rate in a bid to bolster growth in the face of weak commodity prices and global uncertainty.

  • Oct 2- The following are the top stories on the New York Times business pages on Tuesday. *New York's attorney general, under the aegis of a federal mortgage task force, filed a civil suit against Bear Stearns, now part of JPMorgan Chase& Co, asserting that it defrauded investors who purchased mortgage securities.

  • *Britain's FTSE 100 index is seen opening down 30 to 39 points, or as much as 0.7 percent, according to financial bookmakers. *The UK blue chip index closed up 1.4 percent, or 78.38 points, higher at 5,820.45 points on Monday.

  • TAIPEI, Oct 2- Taiwan stocks closed up 0.56 percent on Tuesday, joining other Asian bourses in gains, with HTC Corp. The Taiwan dollar was up by T $0.122 to trade at T $29.280. ASIA-PACIFIC STOCK MARKET REPORTS: Japan..........

  • *MSCI Asia ex- Japan up 0.3 pct, Nikkei recovers from 3- week low. inched up 0.1 percent, suggesting a firm start on Wall Street, but financial spreadbetters expected London's FTSE 100.

  • The yield on Turkey's two-year benchmark bond. Markets in China, Hong Kong and India are closed for holidays on Tuesday. Turkey's Isbank said it signed an agreement to sell its 54 percent stake in Gemlik Liman, a port located near Istanbul.

  • TAIPEI, Taiwan-- Hong Kong media mogul Jimmy Lai announced Tuesday he will sell his prized Taiwan television business, best known for its fanciful animated takes on political and celebrity scandals, because of big financial losses.

  • SYDNEY, Oct 2- Australia's central bank cut interest rates by a quarter point to a three-year trough of 3.25 percent on Tuesday as a slowdown in China, falling export prices and a high currency all dimmed the economic outlook at home.

  • SYDNEY-- Australia's central bank cut its benchmark interest rate by a quarter percentage point Tuesday as a slowdown in China's economy and persistent weakness in Europe adds to uncertainty about Australia's economic outlook.

  • By Tan Ee Lyn and Donny Kwok. HONG KONG, Oct 2- At least 36 people died and dozens were injured when a ferry carrying more than 120 revellers on a company outing collided with another ferry and sank near an island south of Hong Kong on Monday night, in one of the city's worst maritime accidents.

  • SINGAPORE, Oct 2- Asia's gasoil refining margin weakened on Tuesday, hurt by increasing supply in the market. The front-month November margin fell 16 cents to a premium of $18.86 a barrel to Dubai crude, lowest in four sessions, according to Reuters data. In the fuel oil market, inter-month spreads were weaker as demand from China and Japan was lacklustre.

  • Seoul, Oct 2- South Korea's main KOSPI share index was up 0.24 percent at 2,001.13 points as of 0434 GMT. The food and beverage index jumped to a record high, which analysts attributed to holidays in Korea and China boosting demand and earnings. Orion Corp, another food manufacturer, was also trading at an all-time high of 986,000 won.

  • SYDNEY, Oct 2- Australia's central bank cut its main cash rate by a quarter point to 3.25 percent on Tuesday, saying the growth outlook for next year looked a little weaker, while inflation was likely to remained contained within its target. The Reserve Bank of Australia announced the decision after its monthly policy meeting.

  • SYDNEY, Oct 2- Australia's central bank cut its main cash rate by a quarter point to 3.25 percent on Tuesday, saying the growth outlook for next year looked a little weaker, while inflation was likely to remained contained within its target. The Reserve Bank of Australia announced the decision after its monthly policy meeting.

  • Global economic activity has slowed this year, curbing fuel demand growth in Asia, Europe and the United States. The euro supported oil prices, rising for a second straight session on growing expectations the euro zone's fourth-largest economy, Spain, will seek a bailout.

  • SYDNEY, Oct 2- Australia's central bank cut its main cash rate by a quarter point to 3.25 percent on Tuesday, saying the growth outlook for next year looked a little weaker, while inflation was likely to remained contained within its target.

  • SYDNEY, Oct 2- Australia's central bank cut its main cash rate by a quarter point to 3.25 percent on Tuesday, saying the growth outlook for next year looked a little weaker, while inflation was likely to remained contained within its target. The Reserve Bank of Australia announced the decision after its monthly policy meeting.