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  • BEIJING— More than two dozen companies in China are postponing initial public offerings and security companies are pledging more than $19 billion for a fund to stabilize the country's free-falling stock market. The 28 companies, which had obtained permission from China's securities watchdog for IPOs planned in Shanghai and Shenzhen, said they would...

  • BEIJING/ SHANGHAI, July 4- China froze share offers and set up a market-stabilization fund on Saturday, the Wall Street Journal said, as Beijing intensified efforts to pull stock markets out of a nose-drive that is threatening the world's second-largest economy. Beijing's reported suspension of initial public offers came a few hours after extraordinary...

  • 25 CHINESE MUTUAL FUND HOUSES SEEK TO SPEED UP APPLICATION. BEIJING, July 4- Leaders of 25 major Chinese mutual fund houses on Saturday promised to subscribe to their companies' equity funds, the latest effort to stem a stock market slide of nearly 30 percent since mid-June. The firms also would seek to speed up the application and issuance of equity funds, the Asset...

  • BEIJING, July 4- China's top securities brokerages said on Saturday that they would collectively buy at least 120 billion yuan ( $19.3 billion of shares in a bid to stabilise the country's stock markets after a slump of nearly 30 percent since mid-June. The rout in China's highly leveraged stock market has become a major worry for international investors, who...

  • BEIJING, July 4- China's top 21 securities brokerages said on Saturday that they would collectively invest at least 120 billion yuan ( $19.3 billion to help stabilise the country's stock markets after a slump of nearly 30 percent since mid-June. The rout in China's highly leveraged stock market has become a major worry for global investors, who fear a meltdown...

  • TOP CHINA BROKERAGES PLEDGE TO NOT SELL OFF HOLDINGS AS LONG AS SHANGHAI COMP INDEX IS BELOW 4,500 POINTS.

  • Oil rigs increased by 12 to 640 following a slump that cut the number of active U.S. rigs from a peak of 1,609 in October to a nearly five-year low last week, energy services firm Baker Hughes Inc said. "This is the first weekly increase in 30 weeks and is an indication that the slump in drilling activity has ended," said Carsten Fritsch, senior oil analyst at Commerzbank...

  • SHANGHAI/ BEIJING, July 3- China's vast network of "grey market" lenders have reaped big profits from lending money to individuals and companies to buy stocks, but as markets slump their customers face heavy losses after borrowing up to 10 times their starting capital. Global investors are increasingly worried about the scale of leverage in China's stock market,...

  • BEIJING— China cut the number of initial public offerings planned this month by two-thirds on Friday, adding to frantic efforts to shore up plunging stock prices. Ten IPOs will be allowed in July, the China Securities Regulatory Commission said on its microblog account. Some 28 companies— an unusually large number for China— had planned to go public in the next two...

  • *China wants inclusion in MSCI's Emerging Market Index. "The psychology of the Chinese authorities is to control things, but opening up capital markets requires them to lose a lot of control," said Charlie Awdry, China fund manager at Henderson Global Investors. The near-30 percent stock market plunge comes as Beijing is lobbying for its domestic shares to be...

  • US official: China, US working to end ivory trade Friday, 3 Jul 2015 | 6:15 AM ET

    BEIJING— The United States and China want to increase cooperation in fighting wildlife trafficking and are working to end commercial ivory trading, a U.S. Interior Secretary Sally Jewell met in Beijing with Vice Premier Wang Yang and Forestry Administration head Zhao Shucong. Her agency also explored possibilities to help increase the number of Chinese...

  • UPDATE 1-China says to reduce IPOs amid stock slump Friday, 3 Jul 2015 | 5:11 AM ET

    BEIJING, July 3- China will reduce the number of initial public offerings and the amount of capital raised from the equity markets, the stock regulator said on Friday, as markets shows little sign of stabilising after dropping by nearly a third in three weeks. China Securities Regulatory Commission spokesman Zhang Xiaojun said 10 IPOs would be launched during...

  • UPDATE 5-Oil drops on rising U.S. rig count Friday, 3 Jul 2015 | 4:22 AM ET

    "This is the first weekly increase in 30 weeks and is an indication that the slump in drilling activity has ended," said Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt. Brent crude for August was down 45 cents at $61.62 a barrel by 0800 GMT, extending a downward trend in place since early May, which has seen prices fall almost 10 percent.

  • China uses more than a billion tonnes of iron ore a year to make steel- 14 times the consumption of the United States- but Beijing's efforts to shift the economy to consumer-led growth means steel consumption is peaking faster than expected. "It's clear China can no longer consume all the iron ore that's out there, so something's got to give," said James Wilson, a...

  • *China shares have fallen nearly 30 pct from mid-June peak. SHANGHAI, July 3- Chinese stocks tumbled again on Friday, taking the week's losses to more than 10 percent, as the securities regulator said it was investigating suspected market manipulation amid increasingly desperate attempts by Beijing to head off a full-blown crash. The CSI300 index of the largest...

  • SHANGHAI, July 3- China stocks slumped again on Friday, taking their three-week tumble to nearly 30 percent and wiping out most of this year's gains. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 5.4 percent on Friday, to 3,885.92, while the Shanghai Composite Index lost 5.8 percent, to 3,686.92 points. The remarks were quickly...

  • HONG KONG— World stock markets mostly drifted lower Friday ahead of Greece's weekend austerity referendum, while China's main stock benchmark plunged as much as 7 percent as government market stabilization measures failed to reassure panicky investors. Britain's FTSE 100 edged 0.1 percent lower to 6,622.15. The government says a "No" vote will put it in a...

  • SHANGHAI— A complete bootlegged copy of Michael Lewis' bestselling book about Wall Street, "Liar's Poker," was hosted on the official website of the Chinese Commerce Ministry, the agency responsible for intellectual property protection in China, The Associated Press has found. China has a long and troubled history with copyright infringement.

  • The rout in China's stock markets has wiped out trillions of dollars of market capitalization in Shanghai and Shenzhen's stock markets. Financial spreadbetters expected Britain's FTSE 100 to open down 0.1 percent, Germany's DAX up 0.2 percent, and France's CAC 40 or 0.3 percent higher. "Some of the stocks which have seen bubbly valuations in China have been the...

  • *CSI300 -2.4 pct; SSEC -3.3 pct; HSI -0.2 pct. SHANGHAI, July 3- China stocks slumped again on Friday, taking their three-week tumble to nearly 30 percent and wiping out most of this year's gains, prompting regulators to launch investigations into suspected market manipulation. said Fu Xuejun, strategist at Huarong Securities Co..