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Asia-Pacific News Australia & New Zealand

  • *Asia ex- Japan, Nikkei drop as risk aversion reigns. SINGAPORE, Aug 18- Asian stock investors joined a global retreat from riskier assets on Friday and the dollar wavered on growing doubts about U.S. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.5 percent in early trade, but still looked set to gain 1.4 percent for the week after tensions...

  • LONDON, Aug 17- Aluminium, copper and other base metals edged down from multi-year peaks on Thursday as some investors locked in profits from a steep rally amid doubts about future demand in top metals consumer China. "There's a lot of investor optimism at the moment, which in our view will be disappointed," said Caroline Bain, chief commodities economist at Capital...

  • LONDON, Aug 17- Aluminum, copper and other base metals edged down from multi-year peaks on Thursday as some investors locked in profits from a steep rally amid doubts about future demand in top metals consumer China. "There's a lot of investor optimism at the moment, which in our view will be disappointed," said Caroline Bain, chief commodities economist at Capital...

  • *Cathay sees smaller drop in ticket prices in second half of year. SINGAPORE, Aug 17- Cathay Pacific Airways Ltd shares rose as much as 6 percent on Thursday, as analysts said they believed losses had bottomed for the Hong Kong airline after it reported its worst first-half result in at least two decades. "We see some bottom out effect in some routes in terms of lower...

  • *Bill to strengthen AUSTRAC's investigation, enforcement powers. SYDNEY, Aug 17- Australia said on Thursday it would strengthen its money laundering laws, including bringing bitcoin providers under the government's financial intelligence unit, days after a fresh scandal at one of the country's biggest banks. These measures ensure there is nowhere for...

  • supply@ MELBOURNE, Aug 17- London copper, aluminum and zinc rose to multi-year highs on Thursday, leading a broad-based rally in metals, on expectations that China's reform of its metals industry will curb supply against a background of robust demand. A weaker dollar has added heat to the move in metals, but the broader story relies on China's property sector where...

  • curb supply@ MELBOURNE, Aug 17- London copper, aluminium and zinc rose to multi-year highs on Thursday, leading a broad-based rally in metals, on expectations that China's reform of its metals industry will curb supply against a background of robust demand. A weaker dollar has added heat to the move in metals, but the broader story relies on China's property sector...

  • *New South Wales clears mine for partial restart. MELBOURNE, Aug 17- Government regulators in an Australian state on Tuesday cleared South32 to partially restart its Appin coal mine after workers were evacuated in June following a gas-leak scare. "We've worked closely with the mine operator and we're now comfortable that the mine has put systems and controls in...

  • WELLINGTON, New Zealand— New Zealand's trade minister said Thursday he believes there's an odds-on chance that a group of 11 Pacific nations including Japan and Australia will sign a free-trade deal, despite the U.S. pulling out. He announced that the New Zealand government had approved a mandate for the country to push ahead with negotiations.

  • NEW YORK, Aug 16- Wall Street edged higher on Wednesday but closed well off session highs and the dollar fell on the latest turmoil in Washington and U.S. Treasury yields fell with benchmark yields retreating from one-week highs after the July meeting minutes and as investors worried that a backlash against President Donald Trump's comments after a violent...

  • NEW YORK, Aug 16- Wall Street indexes cut gains on Wednesday and the dollar reversed course on turmoil in Washington and U.S. Stocks pared earlier gains in a choppy session as investors worried that a backlash against President Donald Trump's comments after a violent weekend rally would stunt his ability to deliver on his pro-business promises.

  • *Euro down, sources signal no Draghi policy clues at Jackson Hole. NEW YORK, Aug 16- U.S. shares rose Wednesday as investors bet that weak housing data could slow U.S. rate hikes, while the dollar gained on the euro as hopes ebbed for a monetary policy change in Europe. Equity investors bet the weak data would hold back the Fed, according to Scott Wren, senior global equity...

  • *Miners, energy firms lead Europe shares higher; Asia rises. LONDON, Aug 16- European shares were on track for their best week since late April on Wednesday, gaining almost 1 percent on forecast-beating growth data, rising metals prices and a weakening euro. The pan-European STOXX 600 index rose 0.8 percent, led by basic resources companies and energy firms,...

  • *Miners, energy firms lead Europe shares higher; Asia rises. LONDON, Aug 16- European shares were on track for their best week since late April on Wednesday, gaining almost 1 percent on forecast-beating growth data, rising metals prices and a weakening euro. The pan-European STOXX 600 index rose 0.8 percent, led by basic resources companies and energy firms,...

  • SHANGHAI/ HONG KONG, Aug 16- Hong Kong's Cathay Pacific Airways Ltd on Wednesday said it did not see operating conditions improving over the rest of 2017 after posting its worst first-half loss in at least two decades as it continued to lose customers to lower-cost rivals. On Wednesday, it reported a loss of HK $2.05 billion for the six months ended June, versus a...

  • LONDON, Aug 16- Zinc rose to its highest in almost a decade on Wednesday and aluminum hit a 33- month high on expectations of strong global demand, tighter supplies and speculative buying. LME ZINC: Benchmark zinc on the London Metal Exchange was up 2.1 percent at $3,023 at 1019 GMT after earlier touching $3,029, the highest since October 2007.

  • *Ken MacKenzie becomes chairman on Sept. 1. MELBOURNE/ LONDON, Aug 16- Hedge fund Elliott Management has upped the stakes at BHP, gaining powers to push for change by raising its holding in the miner's London- listed arm to 5 percent. At first Elliott held a 4.1 percent "economic interest" in BHP's London- listed shares, but in a statement on Wednesday it said it now held 5...

  • *Miners, energy firms lead Europe shares higher; Asia rises. LONDON, Aug 16- The dollar held on to big gains on Wednesday before minutes of the U.S. Relative calm in the standoff between the United States and North Korea also lifted investors' appetite for riskier assets.

  • *Ken MacKenzie becomes chairman on Sept. 1. New York- based Elliott launched its effort in April, at which point it held a 4.1 percent "economic interest" in BHP's UK- listed shares, calling for the company to quit all or part of its petroleum business, boost returns and ditch its dual listing. The activist investor said it now holds 5 percent of BHP's UK- listed shares, and...

  • The rally in zinc, used for galvanising steel, comes as China steps up plans to develop infrastructure while capacity cuts in its steel industry reform boost prices, said analyst Daniel Hynes of ANZ in Sydney. "There a fair level of scepticism at the start of the year when China's infrastructure projects were announced but we're seeing much...