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  • China's yuan slips, likely to have a second weekly loss Thursday, 4 Dec 2014 | 10:53 PM ET

    HONG KONG, Dec 5- China's yuan edged up slightly against the dollar on Friday after the central bank set a stronger midpoint, though it appeared headed for a second straight weekly loss. The People's Bank of China fixed the official midpoint at 6.1373 per dollar, up 0.06 percent from Thursday's 6.1411. It is expected to fall further next year when the U.S. starts to...

  • Beijing measures mobilise army of new stock investors Thursday, 4 Dec 2014 | 6:26 AM ET

    The flood of small investors suggests Beijing is finally persuading people to allocate capital more broadly to the economy, instead of betting it all on property, though the last policy-led stock rally ended in a brutal crash. Official data showed Chinese retail investors, who conduct 60-80 percent of stock trades in China, opened over a million new brokerage...

  • SHANGHAI/ HONG KONG, Dec 4- Chinese brokerage Haitong Securities Ltd is in talks to buy Portuguese bank Banco Espirito Santo's investment banking unit as Chinese finance firms snap up more overseas assets to try to offset slowing growth at home. A purchase of the bailed-out Portuguese lender's unit would be Haitong's first acquisition outside China and Hong...

  • SHANGHAI, Dec 4- U.S. retailer Best Buy Co Inc said on Thursday it will sell its struggling China business, Five Star, to domestic real estate firm Zhejiang Jiayuan Group in order to focus on its North American operations. Best Buy has struggled to fend off Chinese rivals in a crowded market, as other U.S. firms have complained that operating in the country has become...

  • Hong Kong shares close higher as China stocks sizzle Thursday, 4 Dec 2014 | 3:10 AM ET

    HONG KONG, Dec 4- Hong Kong shares rose on Thursday as mainland China markets extended their blistering rally, with financial and energy stocks leading the gains. Among the most actively traded stocks on Hong Kong's main board were CCT Land Holding, down 6.3 percent to HK $0.02, Bank Of China, up 3.2 percent to HK $4.16 and China Construction Bank, up 2.4 percent to HK...

  • HONG KONG, Dec 4- A hiatus in Hong Kong's yuan deposit growth has probably become more pronouced since the advent of a landmark stock connect scheme with Shanghai that saw money flow back to China, while a spate dim sum bond issues also has siphoned off yuan funds. Despite the stock connector's lukewarm start, there was a net outflow of 44.7 billion yuan from Hong...

  • The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 4.6 percent, its biggest one-day percentage gain since July 2013, to 3,104.35 points. Among the most active stocks in Shanghai were Bank Of China, up 3.2 percent to 3.52 yuan; Minsheng Bank, up 9.37 percent to 8.99 yuan and Everbright Bank, up 6.00 percent to 4.24 yuan.

  • *Hong Kong tracks bullish mainland market. SHANGHAI, Dec 4- China and Hong Kong shares rose on Thursday led by financials, as the market's bullish rally on expectations of further economic stimulus measures showed no signs of losing steam. Banking and brokerage shares remained the biggest supports for the market, with China Merchants Bank up more than 8 percent...

  • SYDNEY, Dec 4- Copper futures strengthened in early Asian trade on Thursday, underpinned by data showing the services sector in China grew marginally faster in November. *Suspected metals fraud in China sparked claims of betrayal by both U.S. bank Citigroup Inc and trade house Mercuria over who would absorb about $270 million in exposure to financing deals, a...

  • Formation 8 raises $500 million for second venture fund Wednesday, 3 Dec 2014 | 2:16 PM ET

    The fund, created by startup whiz kid Joe Lonsdale and colleagues Brian Koo and Jim Kim, specializes in technology companies with aspirations of doing business in Asia. Formation 8 uses connections in Asia to help companies in their portfolio, as it did with Oculus. Working with Formation 8 can help their U.S. portfolio companies gain the same entree to Asia they...

  • HONG KONG, Dec 3- Hong Kong shares reversed earlier gains and finished down on Wednesday as money flowed into the bullish mainland markets, analysts said. Among the most actively traded stocks on Hong Kong's main board were CCT Land Holdings, down 5.9 percent at HK $0.02, Bank Of China, down 1.0 percent at HK $4.03 and ICBC, down 0.2 percent at HK $5.22.

  • The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 1.5 percent, to 2,967.55 points, while the Shanghai Composite Index gained 0.6 percent, to 2,779.53 points. Among the most active stocks in Shanghai were Minsheng Bank, up 4.2 percent at 8.24 yuan; Bank Of China, down 4.49 percent at 3.40 yuan and Everbright Bank, down 5.00 percent at 3.99...

  • SHANGHAI, Dec 3- Hong Kong shares in dual-listed Chinese firms are trading at deep discounts to their onshore versions, despite the recent launch of the Hong Kong- Shanghai stock connect scheme that channels cross-border stock investment between the two markets. A value over 100 indicates that shares in dual-listed companies are cheaper in Hong Kong than in...

  • HONG KONG, Dec 3- Europe's main funds regulator has introduced a "fast-track" procedure for approving mutual funds that wish to participate in a landmark Hong Kong-China equity trading scheme. Luxembourg's Commission de Surveillance du Secteur Financier will fast-track applications from mutual funds sold to retail investors, also known as UCITS, whose...

  • SHANGHAI, Dec 3- Chinese stocks extended their rally for the second day on Wednesday, with key indices hitting over-three-year highs, powered by gains in property and brokerage shares partly on speculation of more stimulus from Beijing. "The expectation of a bullish stock market is the main drive behind the rise in brokerage stocks recently as they will benefit...

  • SHANGHAI, Dec 3- Chinese stocks extended their strong rally for the second day on Wednesday, with key indices hitting over-three-year highs, powered by gains in property and brokerage shares partly on speculation of more stimulus from Beijing. "The expectation of a bullish stock market is the main drive behind the rise in brokerage stocks recently as they will...

  • Bearish Chinese bets fuel iron ore rout Tuesday, 2 Dec 2014 | 6:37 PM ET
    Trucks at an iron ore mine

    A halving in the price of iron ore this year has been fueled in part by Chinese speculators who built up huge short positions on the one-year-old futures contract.

  • SHANGHAI/ LONDON, Dec 3- Chinese infant formula giant Beingmate prints Irish clovers on its flagship product as it seeks to assure Chinese parents of its European sourcing after a safety scare involving the world's biggest milk powder exporter New Zealand. Though the scare turned out to be false, it prompted formula firms to reduce supplies from New Zealand and...

  • SINGAPORE, Dec 3- A halving in the price of iron ore this year has been fuelled in part by Chinese speculators who built up huge short positions on the one-year-old futures contract on the Dalian exchange, in the process giving China the pricing power it has long craved. Analysts say its clout on iron ore could become even greater if, as proposed, it lets foreigners...

  • SHANGHAI, Dec 2- China stocks had their best day in more than a year on Tuesday, as speculation of further policy easing boosted financial services stocks on the mainland and Hong Kong. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 3.7 percent to 2,923.94, its largest daily rise since July 2013, while the Shanghai Composite Index...