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Asia Top News and Analysis Shanghai

  • BEIJING, July 27- A handful of China's many electric vehicle start-ups are considering setting up an alliance to pool resources, develop joint technology and bring cars more quickly to the world's biggest autos market. In a sign that the country's fledgling EV industry is already consolidating as rules get tougher and competition fiercer, Shen Haiyin,...

  • SHANGHAI, July 26- A Shanghai district government plans to spend about 5 billion yuan to develop a cruise ship industrial park to house foreign firms that it hopes will help build China's first luxury passenger vessels, a local official said. China's government has earmarked cruise shipbuilding as a major objective in its "Made in China 2025" programme to...

  • SHANGHAI, July 26- China's yuan eased against the dollar on Wednesday due to rising corporate demand for the greenback, while the market awaited the U.S. "The yuan faced some resistance around 6.75 per dollar, at which companies increased their dollar purchases to prevent the Chinese currency from rising," said a trader at a Chinese bank in Shanghai, noting some...

  • BEIJING/ SHANGHAI, July 26- China's securities regulator pledged on Wednesday to expand access to capital markets for all types of investors, while encouraging more long-term institutional participation in the financial domain. In a brief report on its website, the China Securities Regulatory Commission also said it would maintain "normalization" of...

  • BEIJING/ SHANGHAI, July 26- China's securities regulator pledged on Wednesday to expand access to capital markets for all types of investors, while encouraging more long-term institutional participation in the financial domain. In a brief report on its website, the China Securities Regulatory Commissions also said it would maintain "normalization" of...

  • *MSCI Asia-Pacific index flat, Nikkei rises 0.5 pct. TOKYO, July 26- Asian stocks steadied on Wednesday and the dollar held firm as investors awaited the Federal Reserve's policy decision later in the day for more clues on its tightening plans. A statement is expected at 1800 GMT.

  • SHANGHAI, July 25- An Australian currency brokerage said three staff members in Shanghai, who were being held against their will by a group of investors that intruded into its offices last week, had been released and were now helping with a local police investigation. Sydney- headquartered brokerage, Union Standard Group Forex, last week said up to 50 investors...

  • SHANGHAI, July 25- China's yuan weakened slightly against the U.S. dollar on Tuesday, pulled down by a softer official midpoint following a rise in the greenback overnight. Prior to market opening, the People's Bank of China set the midpoint rate at 6.7485 per dollar, 75 pips or 0.1 percent weaker than the previous fix of 6.7410. Recent intraday trade was mainly...

  • SYDNEY/ MELBOURNE July 25- London copper struck its highest level since mid February on Tuesday after a unexpected strength in China's economy and a weaker dollar fanned upside technical momentum. *LME COPPER: Three-month copper on the London Metal Exchange jumped by 1.2 percent to $6,097 a tonne by 0249 GMT, after a 0.4 percent gain in the previous session,...

  • SYDNEY/ MELBOURNE July 25- London copper struck its highest level since mid February on Tuesday after a unexpected strength in China's economy and a weaker dollar fanned upside technical momentum. *LME COPPER: Three-month copper on the London Metal Exchange jumped by 1.2 percent to $6,097 a tonne by 0249 GMT, after a 0.4 percent gain in the previous session,...

  • *SHANGHAI COPPER: The most-traded copper contract on the Shanghai Futures Exchange rose 0.2 percent to 47,960 yuan a tonne. *ANTOFAGASTA: Copper miner Antofagasta has signed a wage deal with workers at its Zaldivar deposit in Chile, the company and the union said on Monday, averting threatened labor action. *SUPPLY: Disruptions to copper shipments from Canada and...

  • *State yard CSSC building China's first luxury cruise ships. *Cruise shipbuilding is key "Made in China 2025" objective. China's government has earmarked cruise shipbuilding as a major objective in its "Made in China 2025" programme to upgrade its domestic manufacturing and support jobs at its shipyards, as domestic demand for cruise trips increases 30 percent a...

  • President Donald Trump said last week that he is considering imposing tariffs on steel imports, while talks between the commerce secretaries of the United States and China ended without any concrete measures.. While China is the world's largest producer of steel, and has emerged as a major exporter in recent years, the simple truth is that very little of its...

  • MELBOURNE, July 24- London copper was marking time near its highest since early March on Monday ahead of the release of a spate of global manufacturing reports, underpinned supply. *LME COPPER: London Metal Exchange copper was trading down 0.1 percent at $5996.50 a tonne, as of 0734 GMT, following a 0.8 percent gain in the previous session when prices reached $6,051,...

  • MELBOURNE, July 24- London copper was marking time near its highest since early March on Monday ahead of the release of a spate of global manufacturing reports, underpinned supply. *LME COPPER: London Metal Exchange copper was trading up 0.1 percent at $6,013 a tonne by 0520 GMT, following a 0.8- percent gain in the previous session when prices reached their...

  • President Donald Trump said last week that he is considering imposing tariffs on steel imports, while talks between the commerce secretaries of the United States and China ended without any concrete measures.. While China is the world's largest producer of steel, and has emerged as a major exporter in recent years, the simple truth is that very little of its...

  • SHANGHAI, July 24- China's yuan firmed against the U.S. dollar on Monday, buoyed by a stronger central bank guidance, but traders said further gains were likely to be restrained by corporate dollar demand this week. Prior to market opening, the People's Bank of China set the yuan midpoint at 6.7410 per dollar, the highest since Oct. 20 2016, reflecting the dollar's...

  • Founder and CEO of Facebook Mark Zuckerberg

    This summer of challenge for bit tech offers a broad illustration of just how varied the obstacles have become for U.S. companies in China.

  • SHANGHAI, July 21- Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a U.S. pension fund that alleges the firm exaggerated its profit margins to lure investors into its $1.4 billion initial public offering. Morgan Stanley and Goldman Sachs Group Inc, which spearheaded ZTO's IPO, are named in the class-action...

  • *Incident reflects flaring tension in China's financial system. SHANGHAI/ SYDNEY, July 21- Up to 50 investors have intruded into the central Shanghai offices of an Australian currency brokerage and are holding some of its staff against their will, in protest against losses made on currency trades, the brokerage said on Friday. "We are in the middle of a very strange...