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  • HONG KONG, March 9- A long-awaited China International Payment System that would facilitate international usage of the yuan is ready and may be launched as early as September or October, three sources with direct knowledge of the matter told Reuters. "The CIPS is ready now and China has selected 20 banks to do the testing, among which 13 banks are Chinese banks and...

  • TOKYO, March 9- Tokyo shares fell on Monday in thin trade after a strong U.S. jobs report stoked concerns that the Federal Reserve could raise interest rates sooner than expected. The Nikkei ended 1.0 percent lower to 18,790.55. The broader Topix dropped 0.6 percent to 1,531.76, with only 1.798 billion shares changing hands, the lowest level since Dec. 30.

  • SINGAPORE, March 9- Brent crude fell towards $59 a barrel on Monday as a promising U.S. jobs report pushed the dollar up, offsetting geopolitical tensions and the threat of output cuts in Libya and Iraq. Brent eased 43 cents to $59.30 by 0445 GMT, after dropping 75 cents in the previous session. Goldman Sachs said in a note that oil prices would reverse recent gains on...

  • SHANGHAI, March 9- China stocks sank on Monday morning amid worries over tighter liquidity as 23 companies are poised to sell shares publicly this week, potentially locking over 3 trillion yuan of capital. "You cannot just look at price-earning ratios; you need to look at growth," said David Dai, Shanghai- based investment director at Nanhai Fund Management Co Ltd..

  • HONG KONG, March 9- Chinese property developer Kaisa Group Ltd has proposed cutting the interest and extending the maturities of its offshore bonds in a critical debt restructuring plan it needs to get creditors to agree to or risk defaulting on payments. Kaisa, mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its...

  • BEIJING, March 9- China must establish a system to record and restrict e-commerce firms that break rules on counterfeit goods, said the chief of the country's commercial regulator on Monday, responding to a question on the sale of fakes on Alibaba Group Holding Ltd's websites. The cost of breaking existing rules about selling counterfeit goods online is too low,...

  • SINGAPORE, March 9- Last year was by some measures the safest in the history of commercial aviation, despite two high-profile crashes involving Malaysia Airlines aircraft in which hundreds of people were killed, a leading industry body said on Monday. While more people died in air accidents in 2014 than the average in recent years, the number of fatal accidents...

  • The dollar resurgence added to headwinds for commodities that were further unsettled by weak trade data out of top user China at the weekend, said analyst Daniel Morgan of UBS in Sydney. "China's start to the year feels a tad soft specifically on copper and coal," he said, adding that the full picture for Chinese demand wouldn't be clear until late April, given this...

  • SHANGHAI, March 9- China's yuan weakened against the dollar on Monday, after the central bank set its midpoint rate at the lowest level since November, which traders said signalled that monetary authorities intend to guide the currency mildly lower. Before the market opened, the People's Bank of China set the midpoint at 6.1563 per dollar, than Friday's fix at...

  • *OPEC disruptions are main upside risks to outlook. SINGAPORE, March 9- Oil prices will reverse their recent gains as global crude inventories begin to increase again, with U.S. crude likely to drop as far as $40 a barrel in the near-term, Goldman Sachs said. But Goldman said that "the activity pull is sequentially weakening" and that global crude inventories would...

  • TOKYO, March 9- Asian stocks buckled while the dollar held firm on Monday after strong U.S. jobs data fanned expectations that the U.S. Stock markets across Asia, including Japan's Nikkei, Australia, Malaysia and Indonesia fell broadly, with MSCI's broadest index of Asia-Pacific shares outside Japan dropping 1.2 percent. While the futures markets were quick to...

  • Traders cash out on tanker-stored oil as prices rise Sunday, 8 Mar 2015 | 11:22 PM ET

    SINGAPORE, March 9- Traders who have been storing oil since the start of the year are selling some supplies back into the market, completing a trade-play that made oil storage profitable, and re-injecting fuel into an already oversupplied market. The selling signals a winding down of a strategy that has seen at least 50 million barrels of oil stored in tankers,...

  • Brent falls towards $59 a barrel on strong dollar Sunday, 8 Mar 2015 | 11:05 PM ET

    SINGAPORE March 9- Brent crude fell towards $59 a barrel on Monday as upbeat jobs data pushed the dollar higher, outweighing geopolitical tensions and the threat of output cuts in Libya and Iraq. That came as Goldman Sachs on Sunday forecast oil prices would reverse recent gains on the back of rising inventories, with U.S. crude expected to drop to around $40 a...

  • TOKYO, March 9- Japan's economy grew much less than initially thought in the fourth quarter as capital expenditure declined in a worrying sign that a rebound in consumer spending is not encouraging business investment. The revised fourth quarter data joins a mixed batch of indicators over recent months that underscore a fragile recovery from a recession,...

  • SEOUL, March 9- Flashy Maseratis and Bentleys are fast becoming the cars of choice for young, monied South Koreans, eclipsing German luxury brands now so commonplace that some in Seoul's upscale Gangnam district jokingly refer to a BMW 5- series as a Hyundai Sonata. Last year, the Seoul dealership of Volkswagen unit Bentley Motors was the top global seller of...

  • *Japan's weak GDP hurts sentiment. *Japan Display soars after confirming plant investment. TOKYO, March 9- Japan's Nikkei share average fell on Monday after a strong U.S. jobs report stoked concerns that the Federal Reserve could raise interest rates sooner than expected, while weaker-than-expected domestic growth data also hurt sentiment.

  • SHANGHAI, March 9- China's coal imports fell 9.1 percent to 15.26 million tonnes in February from the previous month, customs data showed on Sunday, with shipments hit by slower demand and quality inspections at Chinese ports. Total coal imports into China, the world's biggest consumer, slumped 33 percent from a year ago, data from the General Administration of...

  • MELBOURNE, March 9- London copper sank to the lowest in two weeks on Monday after strong U.S. jobs data fuelled expectations of a mid-year rate hike which pushed up the dollar. Copper earlier slipped to $5,714 which was the weakest since Feb. 24. *The most-traded May copper contract on the Shanghai Futures Exchange slipped by 1.2 percent to 41,890 yuan a tonne.

  • BRASILIA, March 8- President Dilma Rousseff appealed to Brazilians on Sunday to back fiscal austerity policies, while saying that the belt-tightening will last as long as needed and results will only start showing at the end of this year. With the economy stalled and ties with her coalition allies in disarray due to a corruption probe at state-run oil company...

  • SEOUL, March 9- U.S. crude futures eased on Monday as the dollar strengthened and after OPEC's head said the group should not cut output to "subsidise" higher-cost shale. *U.S. crude had fallen 14 cents to $49.47 a barrel by 0026 GMT, after settling down 2.3 percent, or $1.15, at $49.61 a barrel in the previous session. *The United States and Iran have narrowed their...