Asia Top News and Analysis Shanghai

  • *Rising freight rates boost to rivals like COSCO Shipping. *COSCO Shipping among most indebted- Thomson Reuters data. Formed through the merger of China's two largest shipping companies in February, COSCO Shipping owns the world's fourth-largest container shipping fleet by capacity, run by its flagship listed unit, China COSCO Holdings.

  • *Wall Street set to open higher. Crude prices rose more than 1 percent, with U.S. futures bouncing off Friday's one-month low to $43.63 and Brent climbing from a two-week trough to $46.30 after Venezuela said producers could announce a deal this month. Wall Street was set to open up around 0.5 percent.

  • BEIJING, Sept 19- Shenzhen lost its place as the hottest spot in China's property market in August, but the tech boomtown bordering Hong Kong remained one of the major cities driving rapid price growth as concerns mount over funds pouring into property. Prices for new homes rose 36.8 percent in Shenzhen from a year ago, cooling from 40.9 percent in July, allowing...

  • LONDON, Sept 19- Oil prices bounced back from multi-week lows on Monday, hauling up European stock markets and commodity-linked currencies, on hints that producers were close to reaching an output deal. Crude prices rose more than 1 percent, with U.S. futures bouncing off Friday's one-month low to $43.65 and Brent climbing from a two-week trough to $46.27 after...

  • *Spot gold may edge up to $1,319 per ounce- technicals. Sept 19- Gold rose on Monday, supported by a weaker dollar ahead of the U.S. Spot gold was up 0.6 percent at $1,317.66 an ounce by 0729 GMT, having hit a low of $1,306.26 on Friday, the weakest since Sept. 1.

  • HANGZHOU, China, Sept 19- Cainiao Network, the logistics arm of Chinese e-commerce giant Alibaba Group Holding Ltd, will hold another round of fundraising but it is hoping that money raised in March will be sufficient for a year to 18 months. In its first round of funding this year, Cainiao attracted investors such as Singapore's Temasek Holdings and GIC Pte Ltd,...

  • *Shenzhen prices +36.8 pct y/y, slowing from July. BEIJING, Sept 19- China's boomtown of Shenzhen unexpectedly lost its top-performer spot in August's home price race, but alongside other big cities still drove rapid property price growth. "Sharp price gains were propped up by just a few overheated cities, mainly the four first-tier cities, namely Beijing,...

  • *Asia shares ex- Japan up 1.2 pct, Europe to open higher. Oil rebounds on talk of OPEC deal, Libyan fighting. Federal Reserve would skip a chance to raise rates this week, while oil bounced on talk of an OPEC deal on output and reports of fighting around Libyan oil ports.

  • *Spot gold may edge up to $1,319 per ounce- technicals. Sept 19- Gold rose on Monday, after touching a two-week low in the prior session, as the dollar softened, but caution ahead of the U.S. "Gold has seesawed for the last week purely because of the fact that market watchers are waiting for the Fed meeting later this week," said OCBC Bank analyst Barnabas Gan.

  • SHANGHAI, Sept 19- Taking a cue from the yuan strength in the offshore market, China's central bank fixed a stronger midpoint for the the yuan, but the currency came off early highs as mainland banks and corporates seized the opportunity to buy dollars. The People's Bank of China set the midpoint rate at 6.6786 per dollar prior to market open, firmer than the...

  • *Asia shares ex- Japan up 0.8 pct, Tokyo on holiday. *Oil rebounds on talk of OPEC deal, Libyan fighting. SYDNEY, Sept 19- Asian shares advanced on Monday ahead of central bank meetings in the United States and Japan this week, while oil prices bounced on talk of an OPEC deal on output and reports of fighting around Libyan oil ports.

  • BEIJING, Sept 19- China's home prices rose at a faster pace in August, suggesting that tightening measures imposed by a growing number of overheated cities on overheated markets have yet to show significant effects. The coastal city of Xiamen outperformed long-time top performer Shenzhen and had the sharpest price spike, with prices surging 43.8 percent from...

  • BEIJING, Sept 19- China's home prices rose at a faster pace in August, suggesting that tightening measures imposed by a growing number of overheated cities on overheated markets have yet to show significant effects. The coastal city of Xiamen outperformed long-time top performer Shenzhen and had the sharpest price spike, with prices surging 43.8 percent from...

  • BEIJING, Sept 19- Average new home prices in China's 70 major cities rose 9.2 percent in August from a year earlier, accelerating from a 7.9 percent increase in July, an official survey showed on Monday. Home prices in the coastal city of Xiamen and inland city Hefei had the biggest surge, rising 43.8 percent and 40.3 percent respectively, from a year ago.

  • *Demand for 1- day and 7- day repurchase agreements slows down. *Follows central bank intervention in money markets. SHANGHAI, Sept 19- China's central bank can take some measure of success from its attempts to force small banks to reduce their reliance on risky short-term borrowing, but uncomfortable memories of a 2013 cash crunch that spooked global markets is...

  • *Demand for 1- day and 7- day repurchase agreements slows down. *Follows central bank intervention in money markets. SHANGHAI, Sept 19- China's central bank can take some measure of success from its attempts to force small banks to reduce their reliance on risky short-term borrowing, but uncomfortable memories of a 2013 cash crunch that spooked global markets is...

  • LONDON, Sep 16- The London tin market is becoming increasingly prone to spread tightness. Low stocks can be seen in part as a sign of genuine supply pressures, particularly in Indonesia. But there is also a sense that low LME stocks are a sign of a changing tin trading landscape, one in which the London exchange is shrinking even while the upstart Shanghai contract is...

  • Markets in China remained closed for the Mid-Autumn Festival, thinning trade flows. "Copper consumption in China this year has been far stronger than most people thought and prices are likely to remain supported between $4,600 and $4,900 a tonne over the next quarter," Citi strategist David Wilson said. "Refined copper in Shanghai bonded offered at $60 from $50...

  • SHANGHAI/ SYDNEY, Sept 16- Apple Inc fans from Sydney to Shanghai, the first customers worldwide to snap the new iPhone 7 off the shelves, cheered as they left stores on Friday brandishing their purchases, flanked by applauding sales staff. Wu Ting, a 28- year-old from Nanjing, was surprised to find herself first in line at a downtown Apple store in Shanghai on Friday, a...

  • SYDNEY/ SHANGHAI, Sept 16- Apple Inc fans from Sydney to Tokyo, the first to snap the new iPhone 7 off the shelves, cheered as they left stores on Friday brandishing their purchases, flanked by applauding sales staff. Some 200 people were gathered in Sydney light drizzle for the privilege of being the first worldwide to hold an iPhone 7. It was 100 percent worth it, "said...