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Asia Top News and Analysis China

  • WASHINGTON/ HONG KONG, Oct 8- China's top telecoms gear makers should be shut out of the U.S. market as potential Chinese state influence on them poses a security threat, the U.S. House of Representatives' Intelligence Committee said in a draft of a report to be released on Monday.

  • *China slowdown may get worse and last longer- World Bank. SINGAPORE, Oct 8- Shanghai rebar steel futures rose nearly 2 percent on Monday to the highest in almost two months as Chinese traders returned from a week-long break armed with hopes demand in the world's top consumer will pick up as the economy stabilises.

  • BEIJING, Oct 8- China's foreign ministry said on Monday that Chinese telecoms companies operate according to market rules, urging the United States to "set aside prejudices" when it came to Huawei Technologies Co Ltd and ZTE Corp.

  • LONDON, Oct 8- European shares traded lower early on Monday, surrendering some of the strong gains made in the previous sessions, as weak economic estimates for Asia hurt sentiment and investors start to position for a weak earnings season.

  • *World Bank says China economic slowdown could get worse. SINGAPORE, Oct 8- Brent crude slipped below $111 per barrel on Monday, dropping for a second straight session on concern that a fragile global economy could curb oil demand, but supply worries stemming from tension in the Middle East may help check losses.

  • Oct 8- China shares ended lower on Monday after a week-long holiday on worries about economic growth, and on reports that regulators had resumed approvals for initial public offerings. The CSI300 index of the top Shanghai and Shenzhen listings fell 1 percent while the Shanghai Composite closed down 0.6 percent. Keywords: MARKETS HONGKONG CHINA STOCKS/CLOSE.

  • *Australia's $250 bln pipeline of planned mine investments looks on shaky ground. MELBOURNE, Oct 8- Aquila Resources is scrambling to cut planned spending on an Australian iron ore project after cost estimates jumped a quarter to A $7.4 billion, putting the investment at risk in a sector squeezed by cooling Chinese demand.

  • BEIJING, Oct 8- General Motors Co and its China joint ventures sold 244,266 v ehicles in the country in September, up 1.7 percent from a year earlier, the U.S. automaker said on Monday. For the first nine months, sales were up 10 percent to 2.08 million units, GM said in a statement. GM makes vehicles in China in partnership with FAW Group and SAIC Motor Corp.

  • *Underlining the uncertain outlook, the World Bank cut its growth forecasts for the East Asia and Pacific region on Monday and said there was a risk the slowdown in China could get worse and last longer than expected.

  • --Taiwan- based life insurer Nan Shan Life has a strong business franchise and a strong liquidity profile with prudent investment mix.

  • Oct 8- The following are the top stories in the Wall Street Journal on Monday. *Government officials negotiating terms for the proposed merger of BAE Systems and Airbus parent EADS remain deadlocked over key issues including state ownership stakes.

  • Lavrov speaks to the Association of European Business in Russia on EU-Russia relations in the context of Russian WTO membership and Eurasian integration processes. Crown Princess Mary of Denmark visits St. Petersburg.

  • WASHINGTON/ HONG KONG, Oct 8- China's top telecoms gear makers should be shut out of the U.S. market because potential Chinese state influence on them poses a security threat, the U.S. House of Representatives' Intelligence Committee said in a draft of a report to be released later on Monday.

  • BEIJING, Oct 8- China's major economic indicators for September will be released later than usual following a week-long holiday at the beginning of October.

  • *Britain's FTSE 100 index is set to open 29 to 32 points lower, or around 0.6 percent, on Monday, according to financial bookmakers. *Underlining the uncertain outlook, the World Bank cut its growth forecasts for the East Asia and Pacific region on Monday and said there was a risk the slowdown in China could get worse and last longer than expected.

  • SYDNEY, Oct 8- Australian shares fell 0.3 percent, ending seven straight sessions of gains, dragged down by resource sectors as investors worried that the coming U.S. earnings season will feature weaker results.

  • TAIPEI, Oct 8- Taiwan stocks ended down 0.97 percent on Monday, as investors sold LCD makers. shed 2.09 percent while LCD firm AU Optronics lost 2.34 percent. The Taiwan dollar was up by T $0.118 to trade at T $29.25.

  • ended slightly lower on Friday, breaking a four-session winning run, while the MSCI broad index of Asia Pacific shares outside Japan. on Tuesday, and after the World Bank cut its economic growth forecasts for the East Asia and Pacific region, warning about risks the slowdown in China could get worse and last longer than expected.

  • *Liquidity tightens as banks pay reserve requirements. SHANGHAI, Oct 8- Chinese money rates rebounded sharply on Monday as scheduled reserve requirement payments pressured bank liquidity as the market re-opened after a week-long break. The rise nearly wiped out the rate's 77.10 bps fall on Sept 28, the last day of trading before the week-long national holiday.

  • SYDNEY, Oct 8- Australian shares fell 0.3 percent on Monday, ending seven straight sessions of gains, dragged down by commodities and mining sectors as investors' attention turned to the coming U.S. earnings season amid concerns of weaker results. 3.2 percent, while Woodside Petroleum. New Zealand's benchmark NZX 50 index.