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Asia Top News and Analysis Shanghai

  • *Moody's says expects China growth to slow to close to 5 pct. *China: Moody's over-estimates risks, methodology inappropriate. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows," the ratings agency said in a statement,...

  • *Moody's says expects China growth to slow to close to 5 pct. SHANGHAI/ BEIJING, May 24- Moody's Investors Service downgraded China's credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise. "The downgrade reflects Moody's...

  • LONDON, May 24- World stocks inched lower on Wednesday after China's sovereign credit rating was downgraded and as investors eyed a pause in Wall Street's four-day winning streak, the longest in over three months. The dollar and bond yields were steady, with investors growing gradually more confident that the Federal Reserve will raise U.S. interest rates next...

  • KUALA LUMPUR, May 24- Chinese automaker Zhejiang Geely Holding Group on Wednesday said it would buy a 49.9 percent stake in Malaysia's national carmaker Proton from conglomerate DRB-HICOM, marking another major Chinese auto investment in Southeast Asia. Geely, parent company of Hong Kong- based Geely Automobile Holdings Ltd and Sweden's Volvo Car Group,...

  • KUALA LUMPUR, Malaysia— The Chinese owner of Sweden's Volvo Cars agreed Wednesday to buy 49.9 percent of Malaysian automaker Proton, gaining a platform to expand into Southeast Asia. The deal gives Geely a distribution network in Southeast Asia, where non-Japanese brands have struggled. The remaining 49 percent is being purchased by Etika Automobile, which is...

  • *Moody's says expects China growth to slow to close to 5 pct. *China: Moody's over-estimates risks, methodology inappropriate. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows," the rating agency said in a statement,...

  • *China: Moody's over-estimates risks, methodology inappropriate. *S&P rates China one notch higher, on negative watch. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows," the rating agency said in a statement, changing its...

  • TOKYO, May 24- Chinese stocks fell and the Australian dollar skidded on Wednesday after Moody's downgraded its sovereign credit rating on China, adding to worries about the global impact of slowing growth and rising debt in Asia's economic powerhouse. Shares elsewhere in Asia also slipped, with MSCI's broadest index of Asia-Pacific shares outside Japan down...

  • *Rapeseed oil, soyoil pouring into China markets. KUALA LUMPUR, May 24- Palm oil demand from China, the world's No.2 importer of the commodity, is set to drop in coming months as supplies of alternative edible oils flood local markets, industry sources said. "The number of cargoes to China for June to August is very low... badly below normal, maybe less than 100,000 tonnes a...

  • SHANGHAI, May 24- China's yuan eased against the U.S. dollar on Wednesday on some corporate demand for the greenback, while traders shrugged off rating agency Moody's decision to cut its sovereign rating on China. Moody's Investors Service downgraded China's long-term local and foreign currency issuer ratings on Wednesday, citing expectations the...

  • *S&P rates China one notch higher, on negative watch. SHANGHAI/ BEIJING, May 24- Moody's Investors Service downgraded China's credit ratings on Wednesday, saying it expects the financial strength of the world's second-biggest economy will erode in coming years as growth slows and debt continues to rise. The ratings agency also changed its outlook for China to...

  • *Aussie, China shares down after Moody's downgrade. TOKYO, May 24- China's main stock index fell one percent and the Australian dollar slipped on Wednesday after Moody's cut its sovereign credit rating on China. The Aussie fell as much as 0.3 percent to $0.7452 soon after the Moody's announcement downgrading China to A1 from Aa3.

  • SHANGHAI, May 24- Moody's Investors Services downgraded China's long-term local and foreign currency issuer ratings on Wednesday, citing expectations that the financial strength of the world's second-biggest economy would erode in the coming years. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over...

  • SHANGHAI, May 24- Moody's Investors Services downgraded China's long-term local and foreign currency issuer ratings on Wednesday, citing expectations that the financial strength of the world's second biggest economy would erode in the coming years. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the...

  • NEW YORK— Microsoft is refreshing its Surface Pro tablet with longer battery life and faster processors. But Microsoft is hoping its under-the-hood improvements will help it compete with newer laptop-tablet hybrids from Samsung and others. Microsoft pioneered laptop-tablet hybrids, also known as 2- in-1s, with the original Surface in 2012.

  • WUZHEN, China— A computer defeated China's top player of the ancient board game go on Tuesday, earning praise that it might have finally surpassed human abilities in one of the last games machines have yet to dominate. Google's AlphaGo won the first of three planned games this week against Ke Jie, a 19- year-old prodigy, in this town west of Shanghai.

  • SHANGHAI, May 23- China's yuan weakened against the U.S. dollar on Tuesday, dragged down by strong corporate dollar purchases. Prior to the market opening, the People's Bank of China set the midpoint rate at 6.8661 yuan per dollar, firmer than the previous fix of 6.8673. A trader at a Chinese bank in Shanghai speculated that authorities may want to use a firmer...

  • *Hong Kong at fresh 22- month high. SHANGHAI, May 23- China's main stock indexes were mixed on Tuesday morning, with gains in financials only partially soothing lingering concerns over policy tightening steps. An advisor with the People's Bank of China said the central bank will continue to implement reasonable adjustments to monetary policy.

  • BEIJING, May 23- As a controversial U.S. investment visa scheme comes under fresh criticism, Sam Walls of Little Rock, Arkansas, faces a different problem as he courts wealthy Chinese. Walls, who is 47 and does not speak Mandarin, spent three months in China last year promoting the project, often travelling by high-speed rail between Beijing and Shanghai.

  • *Research center to be in Moscow, assembly line in Shanghai. SHANGHAI, May 22- China and Russia on Monday completed the formal registration of a joint venture to build a wide-body jet, kick-starting full-scale development of a program aimed at competing with market leaders Boeing Co and Airbus SE. State plane makers Commercial Aircraft Corp of China Ltd and...