TOKYO— Asian shares meandered Thursday as data showed a drop in Chinese industrial profits, but expectations for further stimulus moves from China and Europe helped to limit losses. KEEPING SCORE: South Korea's Kospi added 0.3 percent to 1,987.13 and Australia's S&P/ASX 200 was nearly unchanged at 5,398.30. THE QUOTE: "Equities continue to consolidate recent...» Read More
*Sunni insurgents capture 3 towns in Iraq's Anbar. SINGAPORE June 23- Brent crude rose above $115 a barrel on Monday, holding near a nine-month high amid concerns of possible disruptions to supply from Iraq where Sunni insurgents seized control of more towns over the weekend.
LAUNCESTON, Australia, June 23- The brouhaha over suspected metal financing fraud at China's Qingdao port is likely to cause short-term angst, but longer-term gains.
WASHINGTON, June 23- Global spending on capital projects and infrastructure will shift from West to East, and jump to more than $9 trillion a year by 2025, according to a forecast released on Monday by accounting firm PricewaterhouseCoopers.
U.S. authorities are probing whether BNP Paribas evaded U.S. sanctions relating primarily to Sudan between 2002 and 2009, and whether it stripped out identifying information from wire transfers so they could pass through the U.S. financial system without raising red flags, sources have said.
HONG KONG, June 23- The yuan edged towards a one-week high on Monday after a private survey showed that activity in China's factory sector expanded in June for the first time in six months indicating the economy may have turned a corner.
*China copper market tightens, imports seen delayed after Qingdao probe. SYDNEY, June 23- Shanghai copper rallied to its highest in four months on Monday, buttressed by tight supply and solid improvement in China's private sector, while London copper hit a three-week peak.
TOKYO, June 23- Japanese shares climbed to a five-month high on Monday morning, after an upbeat survey on Chinese manufacturing activity added to the positive mood from the U.S.
TOKYO, June 23- Asian stocks and the Australian dollar rose on Monday as upbeat news from China's factory sector and fresh highs on Wall Street fueled appetite for riskier assets, while crude oil held near nine-month highs as fighting in Iraq intensified.
*Violence in Iraq buoys appetite for bullion. SINGAPORE, June 23- Gold eased further from a two-month high on Monday on stronger equities and sluggish physical appetite, even as safe-haven demand from escalating violence in Iraq kept the metal above $1,300 an ounce.
LONDON, June 23- Two-thirds of the world's already discovered reserves of oil, coal and natural gas must remain unburned if the rise in average global temperatures is to be limited to 2 degrees Celsius by 2050, according to the International Energy Agency.
BNP PARIBAS NEARS $8 BLN TO $9 BLN SETTLEMENT WITH U.S.
BEIJING, June 23- Activity in China's factory sector expanded in June for the first time in six months as new orders surged, a preliminary HSBC survey showed on Monday, offering new signs the is stabilizing thanks to Beijing's measures to shore up growth.
TOKYO, June 23- Japanese manufacturing activity expanded in June for the first time in three months, a preliminary survey showed on Monday, in a sign that domestic demand has quickly recovered from a sales tax increase at the start of April.
"There are so many NPLs in China, there's a lot of room for information asymmetry, where assets get written off that actually have some value," said Benjamin Fanger, founder of Shoreline Capital, a Guangdong- based firm specialising in distressed debt investment in China since 2004..
SYDNEY, June 23- Shanghai copper rallied more than 2 percent on Monday to touch its highest in four months, while London copper hit a three-week peak as stronger crude oil prices lifted purchases of other commodities and set off a flurry of technical buying.
SINGAPORE June 23- U.S. crude futures were trading close to nine-month highs above $107 a barrel on Monday amid mounting concerns over Iraq as Sunni insurgents moved towards Baghdad, seizing more towns on Sunday. The United States is scheduled to discuss possible supply disruptions due to the Iraq crisis with Gulf states later this week.
SINGAPORE, June 23- Gold was trading steady near its highest in two months on Monday as escalating violence in Iraq and geopolitical tensions supported the metal's safe-haven appeal.
TOKYO, June 23- Asian stocks rose in early trade on Monday after Wall Street advanced to new highs and fanned risk appetite, while crude oil held near nine-month highs as violence in Iraq showed no signs of letting up. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.15 percent.
SYDNEY, June 23- The euro dipped ever so slightly early on Monday in the wake of dovish comments from the European Central Bank but investors struggled for conviction ahead of a report on China's manufacturing sector.
In a country where owning a car has long been a symbol of luxury and success, around 85 percent of Chinese car buyers still buy cars with cash.