Hackers working for China's army appear to have resumed their attacks on U.S. companies. The NYT reports.» Read More
China plans to allow eligible securities houses, insurers' asset management units and private equity funds to develop and manage mutual funds in a bid to reinvigorate an industry struggling to produce returns for investors. The CSI300 of the top Shanghai and Shenzhen listings closed up 1.6 percent on the day at 2,523 points.
SHANGHAI, Dec 31- Chinese fund managers raised their recommended equity weightings in December to a seven-month high with a strong preference toward financial stocks as an improved economic outlook and market performance boosted risk appetite, the latest Reuters fund poll showed.
SHANGHAI, Dec 31- China's yuan rose against the dollar on Monday, guided by the central bank's stronger midpoint, and looked set to end up 1 percent in 2012 after a see-saw year that saw the currency first drop then recover to hit record highs against the dollar. Volume dropped to $5.9 billion from a heavy $7.9 billion on Friday morning.
HONG KONG, Dec 31- Hong Kong shares hovered near their highest close in almost 18 months on Monday, with Chinese insurers and brokerages helping the benchmark indexes close out their best year since 2009..
SHANGHAI, Dec 31- Shanghai steel futures extended last week's rally and rose nearly two percent on Monday, buoyed by upbeat Chinese manufacturing data and higher raw material prices.
The pace of activity in China's vast manufacturing sector hit its fastest rate in December since May 2011, the final reading of the HSBC Purchasing Managers' Survey showed, adding to evidence of an improvement in the world's second-largest economy.
SINGAPORE, Dec 31- London copper inched up on Monday and was on track for an annual rise of 4 percent, but concerns about the absence of a deal to avert a U.S. " The Senate will reconvene at 1600 GMT on Dec. 31.
LONDON, Dec 28- Copper dipped on Friday on a stronger dollar and uncertainty over the outcome of a last-chance round of U.S. budget talks, but signs that top consumer China's economy is recovering limited losses. Three-month copper on the London Metal Exchange was $7,875 in official rings from $7,915 at the close on Thursday.
LONDON, Dec 28- Copper was steady on Friday as signs that top consumer China's economy is improving balanced against the effects of a firm dollar and uncertainty over the outcome of a last-chance round of U.S. budget talks. Three-month copper on the London Metal Exchange was almost flat at $7,920 at 1145 GMT, on course for a 1.1 percent weekly rise.
HONG KONG, Dec 28- Mainland Chinese shares hit six-month closing highs on Friday, while Hong Kong crept to its highest close in almost 18 months as investors rotated into Chinese non-financial counters after Beijing raised hopes of quicker sector reforms.
HONG KONG, Dec 28- Hong Kong shares crept to their highest close in almost 18 months on Friday, with investors rotating into Chinese non-banking financial counters after the central bank pledged faster reforms in the sector. Citic Securities surged 10.7 percent to a record high since its October 2011 high, while Haitong Securities soared 6.9 percent.
*LME, Shanghai copper head for biggest weekly rise since early Dec US fiscal talks resume on Friday as deadline nears. SINGAPORE, Dec 28- London copper inched up on Friday, on track for its biggest weekly rise in four weeks on signs that top consumer China's economy is improving, although worries about the U.S. "
HONG KONG, Dec 28- Mainland Chinese shares closed at their highest since June on Friday, with strength in the consumer and financial sectors helping benchmark indexes post a fourth-straight weekly gain. The CSI300 of the top Shanghai and Shenzhen listings ended up 1.5 percent on the day and 4.6 percent on the week at 2,480.1.
*MSCI Asia ex- Japan, Nikkei set for best year since 2005. TOKYO, Dec 28- The yen fell to its lowest level in more than two years on Friday, lifting Japanese stocks to 21- month highs on expectations of drastic monetary easing, while shares in the rest of Asia rose as Washington races to avoid a fiscal crisis.
*Citic Securities at a record high. HONG KONG, Dec 28- Mainland Chinese shares extended gains on the week on Friday, while Hong Kong hovered at 17- month highs, with investors rotating into Chinese non-financial counters after official news reports raised hopes of quicker sector reforms in the new year.
*Half-day volume rises to $7.3 billion from $3.7 billion. SHANGHAI, Dec 28- China's yuan firmed against the dollar on Friday morning after the central bank set a slightly stronger midpoint, a move that traders said signalled authorities intend to allow the yuan to end up by about 1 percent for the year.
*MSCI Asia ex- Japan, Nikkei set for best year since 2005. TOKYO, Dec 28- The yen hit its lowest level in more than two years on Friday, helping lift Japanese stocks to 21- month highs on expectations of drastic monetary easing, while shares in the rest of Asia inched higher on signs Washington is racing to avoid a fiscal crisis.
SINGAPORE, Dec 28- London copper inched up on Friday and was on track for its biggest weekly rise in four weeks, supported by signs that top consumer China's economy is improving, although worries about the U.S. " *The most-traded April copper contract on the Shanghai Futures Exchange edged up 0.4 percent to 57,750 yuan a tonne, headed for a weekly climb of 1.4 percent.
Philippines has ambitions to join Macau and Singapore among the ranks of Asia's top gaming destinations. Buoyed by stellar economic growth, the casino rush is starting.
*China industrial profit jumps 22.8 pct in Nov. Benchmark copper on the London Metal Exchange was at $7,900 a tonne by 1105 GMT, up 1.3 percent from its $7,801 official price in the final ring trade of a holiday-shortened session on Monday.