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Asia Top News and Analysis Shanghai

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  • BEIJING, Aug 31- China relaxed its housing investment rules for the second time in two weeks on Monday by slashing the downpayment level for most second-home buyers, as authorities try to jumpstart growth in a part of the economy that is showing rare signs of buoyancy. The change, effective Sept. 1, applies to all cities except Beijing, Shanghai, Shenzhen and...

  • *UK stock market closed for holiday. LONDON, Aug 31- European shares fell on Monday, with Germany's DAX and France's CAC on track for their worst month in four years, hit by sliding Chinese stocks and prospects of a near-term U.S. rate increase. China is the catalyst, but the real reason for the sell-off is the nervousness about the first U.S. rate hike, "Koen De Leus, senior...

  • LONDON, Aug 31- European shares fell on Monday, with Germany's DAX and France's CAC on track for their worst month in four years, plagued by sliding Chinese stocks and the threat of a U.S. rate increase as early as September. Volumes were likely to be thin with UK markets closed for a public holiday. Shanghai stocks, which have plunged more than 40 percent since...

  • *Asia-Pacific index down 10 percent so far this month. *China stocks fall more than 3 percent after wild week. HONG KONG, Aug 31- Global financial markets looked set for another rough week on Monday, with stocks and commodities falling ahead of data that could give clues on when the U.S. will raise interest rates and surveys which are likely to point to further...

  • TOKYO/ SINGAPORE, Aug 31- The dollar began the week under pressure on Monday, on track for monthly losses but off recent lows as investors kept alive hopes that the U.S. But it was well above a seven-month low of 92.621 plumbed a week ago as fears of a sharp economic slowdown in China sent global equities markets plunging. The euro rose 0.6 percent to $1.1249, below last...

  • SHANGHAI Aug 31- China's yuan firmed on Monday after the central bank set a stronger guidance rate while it also appeared to continue using state-owned banks to support the Chinese currency, traders said. Most of the losses came after the People's Bank of China surprised markets by devaluing the yuan by nearly 2 percent on Aug. 11. After the abrupt devaluation on...

  • *Asia-Pacific index down 10 percent so far this month. *Fears of China slowdown add to volatility. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.8 percent and is set to fall 10 percent this month, its worst monthly drop since May 2012.

  • *Asia-Pacific index -0.5 pct, on track for 10 pct monthly loss. *Concerns remain over China economy, markets, policy. TOKYO, Aug 31- Asian stocks sagged on Monday after top Federal Reserve officials kept the door open for an interest rate hike in September and investors braced for China economic data this week.

  • For decades, Chinese economic policymakers have drawn praise for keeping their economy growing strongly through turbulence, such as the Asian financial crisis of 1997-1998 and the worldwide financial tumult of 2008. But investors have begun to lose faith in Beijing's economic management. The intervention undermined Beijing's pledge to give market...

  • The Dow Jones industrial average has lost nearly 1,000 points since China's surprise move to devalue its currency Aug. 11. For all its woes, China still outruns every other major economy. For 2015, while the nearly healthy U.S. economy will expand perhaps 2.5 percent, even most pessimistic analysts predict that China's will grow at least 5 percent.

  • BEIJING, Aug 30- China's economy is growing at a "reasonable" pace and, despite growing pressure, the government can handle well the risks the country faces, Chinese Premier Li Keqiang said. Li said international market instability "has increased the uncertainties around the global economic recovery, and the impact on China's financial market and imports and...

  • *Japanese in China worried about anti- Japan sentiment. BEIJING, Aug 30- Beijing is battening down the hatches and cranking up the propaganda ahead of a massive military parade this week to mark the end of World War Two, shooing cars from streets and shutting factories for the Communist Party's biggest event of the year. Some 12,000 soldiers will march through...

  • German car makers are reviewing how many vehicles to send to China or the U.S., and U.S. dealers say they expect to get more Mercedes, Audi and BMW sport utility vehicles to sell as a result. Most global automakers have significant manufacturing operations in China they want to keep running. Before the market declines and the currency devaluation, demand for SUVs...

  • BICESTER, England— The designer outlet mall of Bicester Village is set in the English countryside near Oxford, but it might as well be in China. In the Burberry store, many try on the brand's signature trench coats, which go for at least 600 pounds after discounts. He came from Shanghai to Europe with a group of about 30 colleagues to shop and do some sight-seeing.

  • TOKYO, Aug 28- Subaru maker Fuji Heavy Industries Ltd said on Friday that it will keep diverting car exports from Tianjin to Shanghai for now because its Tianjin operations have yet to return to normal after explosions in the Chinese port city this month. Tianjin is normally the Subaru car maker's biggest entry point in China, but Fuji Heavy diverted its Tianjin-...

  • China's main stock index fell nearly 23 percent over five days before returning to positive territory Thursday and Friday. By June, stocks were "trading at sky-high, rocket-crazy valuations," said Dickie Wong, executive director of research at Kingston Financial Group in Hong Kong. The central bank's Aug. 11 devaluation of the yuan accelerated the declines by...

  • SHANGHAI, Aug 28- China stocks surged on Friday, encouraged by strong gains on Wall Street and signs of fresh support from Beijing after a five-day plunge that panicked global markets. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 4.3 percent, to 3,342.29 points, while the Shanghai Composite Index gained 4.9 percent to 3,232.35...

  • BEIJING, Aug 28- China's local pension funds will start investing 2 trillion yuan as soon as possible in stocks and other assets, senior government officials said on Friday, in a bid to boost the investment returns of such funds. China said last weekend that it would let pension funds under local government units to invest in the stock market for the first time, a...

  • SHANGHAI, Aug 28- China stocks rose on Friday, encouraged by strong gains on Wall Street and signs of fresh support from Beijing after a five-day plunge that panicked global markets. Still, the indexes are heading for a weekly fall of about 10 percent, and a monthly slide of around 14 percent, with the Shanghai market on course to register its worst monthly...

  • SHANGHAI, Aug 28- China's yuan rose sharply against the dollar on Friday, with traders citing large transactions by state-owned banks on behalf of the central bank to support the currency. "There were clear signs that the central bank was continuing intervening in spot trading to support the yuan," said a dealer at a major European bank in Shanghai.