Wires

  • TOKYO, Jan 20- Japanese Prime Minister Shinzo Abe's key economy ministers pledged on Friday to stick to the government's target of achieving a balanced budget in the fiscal year ending in March 2021, by pursuing both economic growth and fiscal consolidation. The ministers made the pledge before parliament after the government submitted a record annual...

  • *China Q4 GDP growth faster than expected, boosted by housing. *China to focus on stability ahead of key political meeting. BEIJING, Jan 20- China's economy grew a faster-than-expected 6.8 percent in the fourth quarter, boosted a solid tailwind heading into what is expected to be a turbulent year.

  • *China Q4 GDP grows 6.8 pct, slightly better than expected. SHANGHAI, Jan 20- China stocks rebounded on Friday morning as data showing stronger-than-expected fourth quarter GDP growth bolstered blue-chips, while bargain hunting helped small-caps recover much of the losses suffered earlier in the week. But underlying caution prevailed ahead of Donald...

  • *Japan needn't cooperate with Trump just to please him. *Japan should intervene if yen spikes. TOKYO, Jan 20- Japan should push back if President-elect Donald Trump bases trade and other economic policy on "wrong economics," an adviser to Prime Minister Shinzo Abe told Reuters in an unusually direct expression of concern about potential protectionism.

  • HONG KONG— Paramount Pictures says it has inked a co-financing deal with two Chinese companies for the Hollywood studio's slate of movies over the next three years. In a statement released Friday, Paramount said that under the terms of the deal Shanghai Film Group and Huahua Media will also set up an office on its studio lot later this year. Paramount is planning...

  • BEIJING, Jan 20- China's real estate investment rose 6.9 percent in 2016, official data showed on Friday, as national sales posted their strongest annual growth in seven years thanks to a furious property boom in top-tier cities. Real estate investment, which directly affects about 40 other business sectors in China, is considered to be a crucial driver for the...

  • Last year, Chinese real estate conglomerate Dalian Wanda Group spent $3.5 billion to buy a controlling stake in U.S. film studio Legendary Entertainment, while Paramount worked with Alibaba Pictures Group Ltd in 2015 to promote "Mission: Impossible- Rogue Nation" in China. The studio could now use the latest partnership as an entry point into China, Paramount CEO...

  • TOKYO, Jan 20- Japanese government bond prices edged higher on Friday as a regular debt-buying operation by the Bank of Japan helped offset pressure from an overnight drop in U.S. That peak in yield was hit after Federal Reserve Chair Janet Yellen signaled faster interest rates than markets had been anticipating and as an auction of five-year JGBs drew tepid...

  • *Dollar weighs; Argentina floods keep floor under soy market. SINGAPORE, Jan 20- Chicago soybeans slid for a second session on Friday with a strong dollar weighing on prices, although crop-damaging floods in Argentina kept a floor under the market. Soybeans are drawing support from the threat of rain-damage to crops in Argentina, the world's third largest...

  • *China Q4 GDP growth faster than expected, boosted by housing. *China to focus on stability ahead of key political meeting. BEIJING, Jan 20- China's economy grew a faster-than-expected 6.8 percent in the fourth quarter, boosted a solid tailwind heading into what is expected to be a turbulent 2017.

  • *Spot gold likely to test resistance at $1,219/ oz- technicals. "There is a bit of safe-haven buying ahead of Trump's inauguration," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. Spot gold may approach resistance at $1,219 per ounce again as it failed to break support at $1,196, according to Reuters technical analyst Wang Tao.

  • *Hopes of OPEC supply cuts lift crude for second day. The International Energy Agency said that while it was "far too soon" to gauge OPEC members' compliance with promised cuts, commercial oil inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for December. China's December refinery runs were up 3.7...

  • *China Q4 GDP grew 6.8 pct, market expected 6.7 pct. MANILA, Jan 20- London copper futures edged higher on Friday after China's economy grew slightly faster than expected in the last quarter of 2016, but caution among investors ahead of U.S. Expectations that China will continue to spur economic activity this year should boost demand in the world's top copper...

  • TOKYO, Jan 20- The dollar lost momentum on Friday as U.S. Federal Reserve Chair Janet Yellen spoke of a gradual pace of rate hikes and sounded less hawkish than some had expected, while investors braced for U.S. The dollar came off peaks after Fed Chair Yellen spoke at the Stanford Institute for Economic Policy Research in early Asian trading hours.

  • BEIJING, Jan 20- Capital formation contributed 42.2 percent of China's economic growth in 2016, while net exports were a 6.8 percent drag on growth, a spokesman for the National Bureau of Statistics said on Friday. Consumption accounted for 64.6 percent of GDP growth last year. Boosted by higher government spending and record bank lending, China's economy grew...

  • Shares of Bristol, which closed at $55.49 on the New York Stock Exchange, were down 6.2 percent at $52.08 after hours. The pharmaceutical company cited "a review of data available at this time" for the decision to hold off on filing for Food and Drug Administration approval of the combination of its cancer drugs Opdivo and Yervoy. Merck said the FDA would decide by...

  • SHANGHAI, Jan 20- Short-term funding costs in China fell sharply on Friday after the central bank pumped a record amount of liquidity into the markets, in an apparent attempt to avert a cash crunch ahead of the week-long Lunar New Year holiday. The volume-weighted average rate of the benchmark seven-day repo traded in the interbank market, considered the best...

  • NEW YORK, Jan 19- A former portfolio manager at Visium Asset Management LP was convicted of securities fraud on Thursday, following a trial that stemmed from a federal investigation that led to the New York- based hedge fund's closure last year. Stefan Lumiere, whose sister was married to Visium founder Jacob Gottlieb when he worked at the hedge fund, was found...

  • TAIPEI, Jan 20- Taiwan stocks rebounded on Friday, though market sentiment remained cautious ahead of U.S. President-elect Donald Trump's inauguration, paced by gains in technology shares. The Taiwan dollar firmed T $0.117 to T $31.506 per U.S. dollar.

  • TOKYO, Jan 20- Japan's Nikkei share average wobbled in a small range on Friday, on track for a weekly loss, as investors braced for a change of power in the United States with the inauguration of President-elect Donald Trump. With Trump taking office, "some investors are waiting to see what the market impact will be, and if he will fulfil some of the expectations," said...