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Asia Economy

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  • IMF cuts US and global growth forecasts for 2014 Thursday, 24 Jul 2014 | 11:00 AM ET

    WASHINGTON— The International Monetary Fund foresees the global economy expanding less than it had previously forecast, slowed by weaker growth in the United States, Russia and developing economies. The lending organization predicted Thursday that global growth will be 3.4 percent in 2014, below its April forecast of 3.7 percent.

  • WASHINGTON, July 24- Israel and Gaza are already facing economic costs from the fighting between them that has raged for the past two weeks, a spokesman from the International Monetary Fund said on Thursday.

  • NEW YORK, July 24- U.S. Treasury debt prices fell on Thursday after data showed initial jobless claims in the world's largest economy dropped to their lowest in more than eight years, but losses may be limited by safe-haven buying given ongoing tensions in the Middle East and Ukraine.

  • *China manufacturing PMI hits 18- month high; new orders surge. While China is relying on increased government stimulus to steer its economy away from reliance on exports and towards consumer spending, Europe has taken the opposite approach, combining fiscal austerity with near-zero interest rates.

  • *Physical premiums in China increase, but imports down. LONDON, July 24- Gold broke below the psychological level of $1,300 an ounce for the first time in a week on Thursday as robust economic data from China and the euro zone deterred investors from buying into safe haven assets like the metal.

  • SEOUL, July 24- South Korea offered billions of dollars in stimulus spending and property market-boosting steps on Thursday to shore up demand after reporting its weakest economic growth in more than a year.

  • *Asian growth outlook dims with feeble China, India recovery. BANGALORE, July 24- The outlook for emerging Asia has dimmed further this year on weak demand for exports, although growth in India is expected to accelerate into 2015 even as China is held back in part by a slowing property market, Reuters polls showed.

  • BEIJING, July 24- China's factory activity expanded at its fastest pace in 18 months in July as new orders surged, a preliminary HSBC survey showed on Thursday, the latest indication that the economy is picking up as government stimulus measures kick in.

  • Markets solid amid mixed US economic news Thursday, 24 Jul 2014 | 4:05 AM ET

    TOKYO— World shares were rattled Thursday by reports the European Union is weighing stiffer financial sanctions against Russia.

  • BEIJING, July 24- China's factory activity expanded at its fastest pace in 18 months in July as new orders surged, a preliminary HSBC survey showed on Thursday, the latest indication that the economy is picking up as government stimulus measures kick in.

  • HONG KONG, July 24- China's yuan raced to its highest in more than three months on Thursday after solid manufacturing activity confirmed the government's stimulus measures were filtering through the economy and brightening growth prospects in the near term.

  • China factory index at 18-month high in July Wednesday, 23 Jul 2014 | 10:41 PM ET

    HONG KONG— China's manufacturing rose in July to its highest level in 18 months, in a sign that mini-stimulus measures to shore up growth in the world's No. 2 economy have taken hold. The preliminary HSBC purchasing managers' index rose to 52.0 in July from 50.7 in June on a 100- point scale on which numbers below 50 indicate contraction.

  • China's factory activity at fastest pace in 18 months Wednesday, 23 Jul 2014 | 9:46 PM ET

    China's manufacturing activity rose to an 18-month high in July, according to a private survey Thursday, as the government's stimulus measures worked their magic, consolidating a recovery in the world's second biggest economy.

  • BEIJING, July 24- Activity in China's factory sector expanded at its fastest pace in 18 months in July, a preliminary HSBC survey showed on Thursday, as a raft of government stimulus measures kicked in.

  • South Korea unveils stimulus after ferry sinking Wednesday, 23 Jul 2014 | 9:31 PM ET

    SEOUL, South Korea— South Korea's government unveiled stimulus plans Thursday after the shock of a deadly ferry sinking slowed economic growth to the lowest level in three quarters. In announcing the stimulus, the ministry lowered its forecast for South Korea's economic growth this year to 3.7 percent from 3.9 percent.

  • Japan trade deficit at record $75B in first half Wednesday, 23 Jul 2014 | 9:23 PM ET

    TOKYO— Japan's trade deficit surged to a record 7.6 trillion yen in the first half of the year as exports failed to keep pace with surging imports, the Finance Ministry reported Thursday.

  • SEJONG, South Korea, July 24- South Korea unveiled stimulus measures on Thursday to prop up slowing economic growth, including plans to boost public spending by some $11 billion and ease mortgage borrowing rules.

  • South Korea posts slowest growth in more than a year Wednesday, 23 Jul 2014 | 7:07 PM ET
    Shoppers walk in the Myungdong shopping district in Seoul, South Korea.

    South Korea's economy grew 0.6 percent in April-June over the previous quarter, the slowest in over a year due to sluggish consumption.

  • NEW YORK, July 23- U.S. long-term Treasury debt prices ended slightly lower on Wednesday in thin trading, but their near-term outlook remained positive on safe-haven demand as global tensions in the Middle East and Ukraine persisted. Treasuries maturing August 2022 through May 2024 as part of its economic stimulus program, also helped keep a lid on yields.

  • *General Dynamics, Northrop beat profit estimates. *General Dynamics reports higher aerospace orders. July 23- U.S. weapons makers General Dynamics Corp and Northrop Grumman Corp raised their 2014 profit forecasts as cost cutting allowed them to improve profitability even as defense spending by the U.S. government remained low.

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