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  • Lester Ross, vice chairman of The American Chamber of Commerce in China, said Chinese consumers needed more choice in services, which would in turn provide more stability as plunging stock markets have exacerbated worries about China's economy. "China is actually depriving its citizens of the best available advice, the best available services," Ross told...

  • 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...

  • The carnage of the last week- even with Wednesday's and Thursday's rebound- has been particularly acute for investors who have seen their overweight positions in companies such as social media site Facebook, pharmaceutical company Valeant, internet retailer Netflix, carmaker Tesla Motors and renewable energy company SunEdison get pummeled in the last...

  • JACKSON HOLE, Wyo., Aug 28- Wild swings in world financial markets this week have shown how events in China can potentially disrupt the Federal Reserve's carefully scripted policy plans. "The years when China could keep on growing and pump things up- that's over. So you look around the world and ask who can take up the slack, and really the answer is nobody, "said Kevin...

  • CHICAGO, Aug 28- U.S. retailers including Toys R Us are starting to negotiate with their Chinese suppliers to take advantage of lower manufacturing costs after China devalued the yuan, with many saying they want to be ready if currencies in China and other Asian countries drop more against the dollar. Earlier this month, China devalued its tightly controlled...

  • TOKYO, Aug 28- Japanese government bond prices were little changed on Friday, with the negative impact from rallying Tokyo shares and an overnight retreat by U.S. Treasuries offset by the Bank of Japan's regular debt buying. Japan's Nikkei surged more than 2 percent, helped by further gains on Wall Street after strong U.S. economic data buoyed sentiment that had...

  • NAIROBI, Aug 27- Oil marketer Total Kenya said its first-half pretax profit dropped by 14 percent due to inflation and volatility in international oil prices. The group, part of French oil major Total, posted an 891.7 million shilling pretax profit in the six months to June 30, against 1 billion shillings in the same period in 2014.. The company's turnover fell to 64...

  • BEIJING— An American business group urged China on Friday to allow more access to its insurance and other service industries, saying foreign skills could help develop its volatile stock markets and cope with disasters like the recent chemical explosion in Tianjin. Opening largely closed banking, logistics and other markets wider to foreign competitors...

  • NEW YORK, Aug 28- The nearly two-month-long slide in oil prices to 6-1/ 2 year-lows has been a boon to many so-called systematic funds, which trade based on technical signals or computer algorithms rather than fundamentals. While most market commentary has focused on the persistent glut in the global market caused by unrelenting OPEC output and surprisingly...

  • Aug 28- The oil market's 10 percent surge on Thursday offered a visceral reminder that many of its most active participants could not care less about global oil inventories, Saudi Arabia's stressed finances or the American shale revolution. For dozens of commodity trading advisors from Rotterdam to Chicago, so-called "systematic" funds that typically use...

  • SYDNEY, Aug 28- Copper edged down in Asian trading on Friday following strong gains overnight, but traders said the metal remained underpinned by a second day of resurgent Asian equities and higher oil prices. Wall Street rose sharply overnight thanks to revised U.S. gross domestic product data showing the economy grew faster than initially thought in the...

  • LAUNCESTON, Australia, Aug 28- Market wisdom is that Asian rice prices are set to rally as El Nino cuts output and bulging stockpiles are steadily eroded. Benchmark Thai 5- percent broken white rice staged a 10 percent rally from a 7 1/ 2- year low of $367.50 a tonne on June 24 to a recent peak of $405 on July 17. It's much the same situation for Thailand's regional...

  • TOKYO, Aug 28- Japanese fund managers marginally trimmed their holdings of stocks in August, as a slide in global risk assets markets prompted them to raise holdings of safe-haven bonds, a Reuters survey found on Friday. Federal Reserve could delay hiking interest rates, "said Soichiro Monji, chief strategist at Daiwa SB Investments. The MSCI World Index tumbled...

  • 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.

  • *Corn firm, set to post second weekly gain. *Wheat edges higher, set for 2.5 pct weekly loss. Corn rose, with the grain poised to record a small weekly gain, while wheat added nearly 0.5 percent but was set to record weekly losses of nearly 2.5 percent.

  • TOKYO, Aug 28- Japan's consumer inflation ground to a halt for the first time in more than two years and household spending unexpectedly fell in July, heightening pressure on policymakers to offer fresh fiscal and monetary support to underpin a fragile recovery. The gloomy data, coupled with soft exports blamed on China's slowdown, reinforces the dominant...

  • BEIJING, Aug 28- China's local pensions funds will start investing 2 trillion yuan as soon as possible in stocks and other assets, Vice Minister of Human Resources and Social Security You Jun said on Friday. China said last weekend that it would allow pension funds to invest in the stock market for the first time, a move that could potentially channel hundreds of...

  • *Gold down nearly 3 pct this week. *INTL FCStone sees 25 basis point Fed hike in September. MANILA, Aug 28- Gold was stuck near recent lows on Friday and was on track to post its biggest weekly drop in five as strong U.S. economic data backed the case for a near-term increase in interest rates.

  • *Asia stocks rise on Wall Street surge, upbeat US data. Wall Street rose sharply overnight thanks to revised U.S. gross domestic product data showing the economy grew faster than initially thought in the second quarter- a reassuring sign amid worries over deepening economic woes in China. MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.3...