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Asia Top News and Analysis Shanghai

  • SHANGHAI/ BEIJING, March 29- China Construction Bank Corp, the country's second-biggest lender by assets, reported on Wednesday a slightly higher 2016 net profit amid a squeeze on bank margins. The results came a day after two other of China's leading banks, Bank of Communications and Agricultural Bank of China, reported modest profit growth as they battle the...

  • SHANGHAI/ BEIJING, March 29- China Construction Bank Corp, the country's second-biggest lender by assets, on Wednesday reported a 2.8 percent rise in fourth-quarter profit, beating analyst estimates. October-December profit rose to 37.63 billion yuan versus 36.6 billion yuan a year earlier, according to Thomson Reuters calculations based on the company's...

  • BEIJING, March 29- Two senior oil traders at Sinopec Corp have resigned, with one set to join a private Chinese e-commerce commodity platform, two sources at the top Asian refiner told Reuters. Xu Qing is leaving his post as vice president of Sinopec Fuel Oil Sales Co to become a senior executive with privately-owned ChinaYIE, a Shanghai- based online commodity...

  • SHANGHAI, March 29- China stocks slid on Wednesday, posting losses for the third day in a row amid concerns over liquidity and tighter polices as the money market saw a net drain for a fourth consecutive day after the central bank skipped open market operations. "The Baltic index, as well as recent U.S. economic data, all point to improving global trade conditions,"...

  • SHANGHAI, March 29- China stocks slid on Wednesday, posting losses for the third day in a row amid concerns over liquidity and tighter polices as the money market saw a net drain for a fourth consecutive day after the central bank skipped open market operations. "The Baltic index, as well as recent U.S. economic data, all point to improving global trade conditions,"...

  • SHANGHAI, March 29- China and Hong Kong stocks rose on Wednesday as further signs of a pick-up in global trade boosted shares of port operators and shipping companies, offseting concerns about fresh property market cooling measures. China's blue-chip CSI300 index rose 0.3 percent to 3,479.14 points by the lunch break, while the Shanghai Composite Index...

  • DETROIT, March 28- China's Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services. Tencent also could help the U.S. company sell- or even build- cars in China, the world's largest...

  • DETROIT, March 28- China's Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services. The White House did not immediately respond to a request for comment on the Chinese...

  • DETROIT, March 28- China's Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services. Those new technologies, and their potential to create new business models and revenue...

  • *Two of China's Big Five post near-flat annual profit growth. SHANGHAI, March 28- Two of China's' Big Five' lenders, Bank of Communications and Agricultural Bank of China, reported modest annual profit growth on Tuesday, as they battled operating pressures and the narrowest net interest margins since at least 2011.. The pressure on assets will be strong this year...

  • March 28- Tesla Inc, the California- based electric carmaker, said Chinese tech giant Tencent Holdings Ltd acquired a 5 percent stake for $1.78 billion. The deal gives Shenzhen- based Tencent a growing presence in the rapidly expanding future mobility sector, with investments in U.S. and Chinese startup companies that provide ride sharing services and are...

  • SHANGHAI/ BEIJING, March 28- Agricultural Bank of China Ltd, the country's third-largest lender by assets, reported 8.7 percent profit growth on Tuesday for the fourth quarter, boosted by higher fee and commission income. October-December profit was 29.77 billion yuan versus 27.4 billion yuan a year earlier, and above an average estimate of 21.5 billion yuan...

  • BEIJING, March 28- Agricultural Bank of China Ltd, the country's third-largest lender by assets, reported 8.7 percent profit growth on Tuesday for the fourth quarter as margins shrank. October-December profit was 29.77 billion yuan versus 27.4 billion yuan a year earlier, and above an average estimate of 21.5 billion yuan from 15 analysts polled by Thomson...

  • SHANGHAI/ HONG KONG, March 28- China Huishan Dairy Holdings Co Ltd, which saw $4 billion wiped off its shares in a single day last week, said on Tuesday it had missed loan repayments and lost contact with a key executive in charge of its finances and cash. Huishan has been on the backfoot since a December attack by U.S.-based short-seller Muddy Waters.

  • HONG KONG/ SHANGHAI, March 28- China Southern Airlines Co Ltd said on Tuesday it will sell a small stake to American Airlines Group Inc in a $200 million deal that will give the carriers better access to the world's two largest travel markets. It also means China's three biggest airlines now have tie-ups with foreign airlines, something Beijing has encouraged as a...

  • SHANGHAI/ HONG KONG, March 28- China Huishan Dairy Holdings Co Ltd said on Tuesday it had fallen behind with some loan repayments, was unable to contact a key finance executive and expressed concern about the strength of creditor support after its stock price plummeted. But the country's largest integrated dairy firm, which has been on the backfoot since a...

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