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Asia Top News and Analysis Shanghai

  • SHANGHAI, March 24- Agricultural Bank of China, the country's third-biggest lender, said it will spend three years building an anti-money laundering centre to improve and centralize AML control, according to a statement circulated late on Thursday. The move comes after U.S. regulators fined the lender $215 million for inadequate compliance and days after...

  • SHANGHAI, March 24- Agricultural Bank of China, the country's third-biggest lender, said it will spend three years building an anti-money laundering center to improve and centralize AML control, according to a statement circulated late on Thursday. The move comes after U.S. regulators fined the lender $215 million for inadequate compliance and days after...

  • HONG KONG, March 24- China's yuan weakened against the U.S. dollar on Friday as the global dollar index rose overnight, but the Chinese currency is set to end stronger for the week. The People's Bank of China set the midpoint rate at 6.8845 per dollar prior to market open, firmer than the previous fix 6.8856. The Thomson Reuters/ HKEX Global CNH index, which tracks the...

  • LONDON, March 23- Copper steadied on Thursday, but was still near one-week lows on news that operations at the world's top producing copper mine in Chile would resume. "There might have been some anticipation to this outcome as talks started this week, so it was largely already in the price," said Nitesh Shah, base metals analyst at ETF Securities.

  • LONDON/ NEW YORK, March 23- Fast food chain Pret a Manger's private equity owners have chosen Solebury Capital to advise on a planned New York stock market listing, people close to the situation said. Launched more than three decades ago, Pret A Manger has around 400 branches globally, serving fast food made onsite to more than 300,000 customers in Britain, the...

  • SHANGHAI, March 23- China stocks ended slightly higher on Thursday, despite a slump in Shanghai B shares amid worries over tight liquidity and stepped-up regulation. Shares traded in Shanghai and Shenzhen exchanges in foreign currency are B shares, while A shares are those denominated in yuan. "The sharp drop in the Shanghai B-share market, is mainly due to...

  • NEW YORK/ HONG KONG, March 23- Global index provider MSCI Inc is seeking feedback from market participants on whether to add Chinese shares to a widely tracked index, a move which could trigger billions of dollars in capital inflows into mainland stocks and ease pressure on its yuan currency. China has removed quota limits on its landmark stock connect programs...

  • *SHANGHAI COPPER: Shanghai Futures Exchange copper rose 0.6 percent to 47,180 yuan a tonne. Zinc premiums fell $10 to $105- $115, the lowest since August 2015, while Shanghai copper premiums have fallen to around $45, traders and analysts said, the lowest in around a year. *SHANGHAI STOCKS: Shanghai bonded copper stocks are about 620,000 tonnes, according to CRU, up...

  • *SHANGHAI COPPER: Shanghai Futures Exchange copper rose 0.6 percent to 47,150 yuan a tonne. *PERU: A railway used by copper, zinc and silver mines to transport their concentrates from Peru's central Andes to port is likely be out of action for at least two to three weeks following "important" damage from floods and mudslides, the transportation minister said on...

  • HONG KONG, March 23- China has made it mandatory for mainland cornerstone investors in Hong Kong IPOs to repatriate funds when they sell their shares, a rule likely to hit smaller, cornerstone-reliant listings, four people with knowledge of the matter told Reuters. The State Administration of Foreign Exchange has informed investment bankers and lawyers of the...

  • March 22- Hong Kong stocks fell on Wednesday, with sentiment hurt by sharp losses on Wall Street on concerns U.S. The Hong Kong China Enterprises Index lost 1.8 percent, to 10,456.96 points, partly due to weaker southbound inflows from Shanghai through a trading link. "Investors are taking a review of the global economic recovery as Trump fails to put forward...

  • *Thailand lost 25 pct of rubber production in Jan floods. Rubber was one of the best performing markets in 2016 and shot up again in January as flooding in top producer Thailand stoked supply worries. "Thailand lost 25 percent of its output in January floods," Lekshmi Nair, IRSG's head of economics and statistics, said in an interview on the sidelines of an industry...

  • MELBOURNE, March 22- London copper dropped with other commodities on Wednesday as investors shunned risk on doubts over the economic agenda of U.S. Concerns that the U.S. would not push through corporate tax cuts as promised before the election pulled down stocks in Asia, with the negative sentiment spilling into metals, said analyst Daniel Morgan of UBS in...

  • *China also wary over tightening liquidity, PBOC risk assessment. SHANGHAI, March 22- Hong Kong and China stocks fell on Wednesday, with investors' risk appetite soured by sharp losses on Wall Street on concerns that U.S. In Hong Kong, where stocks are more exposed to global volatility than their mainland peers, the benchmark Hang Seng index looked set to snap a...

  • HONG KONG, March 22- China's yuan firmed against the U.S. dollar on Wednesday, after the global dollar index fell further to a 1-1/ 2- month low overnight amid a slide in Wall Street stocks that eroded the greenback's interest rate allure. The People's Bank of China set the midpoint rate at 6.8889 per dollar prior to market open, firmer than the previous fix 6.9071.

  • SAN FRANCISCO, March 21- Airbnb, the online marketplace for short-term lodging, is expanding its business in China, hoping to spur growth in the world's most populous country and a major tourist destination. Fresh off a $1 billion fundraising round, Airbnb announced plans on Tuesday to expand its services in China and increase its staff there.

  • MELBOURNE, March 22- London copper dropped with other commodities on Wednesday as investors shunned risk on doubts over the economic agenda of U.S. *LONDON COPPER: Three-month copper on the London Metal Exchange had slipped 0.6 percent to $5,740 a tonne by 0118 GMT, extending losses from the previous session. *SHANGHAI COPPER: Shanghai Futures Exchange copper...

  • YANGON, March 22- One of China's biggest state-owned lenders has suspended an account used to fund ethnic rebels fighting government troops in Myanmar, halting an arrangement that could have stoked diplomatic tensions between Beijing and Myanmar. The Myanmar National Democratic Alliance Army, which clashed with government forces this month, said...

  • SINGAPORE, March 21- Shares of Chinese companies listed in Hong Kong are among the top performers in the world so far this year, easily returning more than the S&P, as Chinese investors pile into a market that was once the near-exclusive playground of foreign fund managers. Worried by signs that China is tightening monetary policy, mainland investors are loading...

  • HONG KONG, March 21- China's yuan firmed against the U.S. dollar on Tuesday, as the global dollar index lost growth momentum after a Federal Reserve official reinforced perceptions that the U.S. central bank won't accelerate the pace of its interest rate hikes. The People's Bank of China set the midpoint rate at 6.9071 per dollar prior to market open, weaker than...