Asia Top News and Analysis Shanghai

  • SHANGHAI, April 7- China's yuan firmed against the dollar on Thursday, after the central bank set a stronger guidance rate and traders suspected state-owned banks intervened to hold down volatility. The People's Bank of China set the midpoint rate at 6.4707 per dollar prior to market open, 0.07 percent firmer than the previous fix of 6.4754.

  • SHANGHAI, April 6- China's top planning agency has ordered issuers of so-called enterprise bonds and their underwriters to assess the risks of default and report back to the government in a nationwide campaign to limit systemic financial risk. In China's fragmented bond issuance system, the NDRC is responsible for approval of "enterprise bonds" of one-year...

  • SHANGHAI, April 6- China's yuan eased against the dollar on Wednesday after the central bank fixed a softer midpoint, and traders expected further mild weakening absent any strong moves in the dollar index. The People's Bank of China set the midpoint rate at 6.4754 per dollar prior to the market open, 0.14 percent weaker than the previous fix of 6.4663.

  • BEIJING, April 5- China's auto market appears poised for a rebound in March after a slow Lunar New Year season, with Toyota Motor Corp posting strong monthly sales and a dealer survey indicating rising demand. On the same day, the China Automobile Dealers Association said at its monthly news briefing that one-third of dealers it surveyed said demand increased in...

  • SHANGHAI, April 5- China's yuan strengthened against the dollar on Tuesday, supported by the U.S. That helped offset a weaker midpoint rate of 6.4663 per dollar set by the People's Bank of China prior to market open, 0.12 percent down from the previous fix at 6.4585. Now we actually have started to believe a rate hike in June may be unlikely as well, "said a trader at a...

  • LONDON, April 4- Copper touched its lowest in a month and nickel slipped to its lowest in six weeks on Monday as investors pared long positions on persisting concern over Chinese growth and metals demand. "The Chinese macro data is slightly better, but there's still a sense that the price rally into mid-March was a bit overextended," Citi analyst David Wilson said.

  • LONDON, April 4- Copper touched its lowest in a month and nickel slipped to its lowest in six weeks as investors pared long positions on persisting concern over Chinese growth and metals demand. So some of the length that was put on is being eased off, "Citi analyst David Wilson said. Three-month copper on the London Metal Exchange fell for the seventh straight...

  • April 1- The rout in global stock markets earlier this year has dented optimism among even the most bullish of equity market analysts polled by Reuters, who now reckon only half of around 20 major stock markets will gain in the year. The March 17-31 Reuters poll of over 250 equity strategists, analysts and fund managers from around the world is the latest in a series...

  • "China is still fundamentally looking at this as though it is an IP taker rather than an IP creator," said Lester Ross, a partner at law firm Wilmer Hale's Beijing office. China's antitrust policies are worrying its trading partners, including the United States, which issued a joint statement with China during President Xi Jinping's state visit to Washington last...

  • *Bohai Capital to add 300-400 planes to 500- strong fleet. BEIJING, April 1- Chinese aircraft lessor Bohai Capital, known for its September purchase of Irish peer Avolon Holdings Ltd, aims to nearly double its fleet in coming years to take advantage of a boom in Chinese travel demand, a top executive told Reuters. Bohai Capital, the leasing arm of...

  • LONDON, April 1- After last year's collective slump base metals showed signs of bottoming out over the first three months of 2016.. With all the base metals reeling from the shock of slowing demand growth in China, the differentiator of price performance right now is supply. The LME tin contract, the smallest and least liquid of the core metals traded on the London...

  • SHANGHAI, April 1- Companies in China will be allowed to offset their currency swap positions directly with other counterparties on a trial basis, the country's foreign exchange market operator announced on Friday, in a minor reform to currency trading. "The new policy will release some quotas for those companies who can offset their derivative positions with...

  • *Official China factory activity expands for 1st time in 9 months. SHANGHAI, April 1- Activity in China's manufacturing activity unexpectedly expanded in March for the first time in nine months, an official survey showed on Friday, adding to hopes that downward pressure on the world's second-largest economy is easing. But while output rose and new orders from...

  • SHANGHAI, April 1- China's yuan weakened on Friday as a cut in the country's credit rating by S&P offset stronger-than-expected growth in China's March manufacturing activity. Rating agency S&P on Thursday cut its outlook for China's sovereign credit rating to negative from stable, but maintained the rating at AA-, saying the government's reform agenda is on...

  • SYDNEY, April 1- Asian shares and the dollar both lost more ground on Friday as investors began the new quarter in a cautious mood, with glimmers of life in China's economy offset by a darkening mood in Japan. Activity in China's vast manufacturing sector expanded in March for the first time in nine months as the official Purchasing Managers' Index surprised at...

  • *Wall St erases big losses during quarter. NEW YORK, March 31- Equity markets worldwide fell for the first time in four days on Thursday, the final day of a roller-coaster first quarter that has hammered the dollar and the pound but has proven the best in decades for gold and bonds. U.S. oil futures rose 1.3 percent to $38.82 a barrel, rebounding somewhat after another...

  • *China consider developing CDS market- sources. *More bond defaults being allowed in China, but cautiously. SHANGHAI, March 31- In a sign China is exploring ways to allow more bond defaults without destabilizing the market, a state body has circulated plans to introduce credit-default swaps and other derivatives, sources said, so investors can hedge risk in its...

  • NEW YORK/ LONDON, March 31- The U.S. dollar's share of allocated global currency reserves grew for a second straight quarter, while euro's share declined further to its smallest in nearly 14 years, according to data from the International Monetary Fund released on Thursday. "With China's share coming as part of the allocated reserves, it becomes tricky to analyze...

  • HONG KONG/ SHANGHAI, March 31- A unit of China's Guosen Securities, one of the country's largest brokerages, denied a Financial Times report it had defaulted on a Hong Kong- traded yuan bond and said the keepwell deed supporting the bond continued to be in effect. It added that the bond's trustees, the Bank of New York Mellon, Hong Kong Branch, had issued a notice to...

  • SHANGHAI, March 31- More than 100 Chinese investors descended on the Shanghai offices of Jinlu Financial Advisors on Thursday demanding their money back from investments, including those tied to a martial arts film whose box office figures were inflated. A man at Jinlu Financial Advisors who identified himself as working at the company said he wasn't...