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Wires

  • *China's Jan average new home prices rise 5 pct y/y. BEIJING, Feb 24- China's new home prices grew in January although major cities saw early signs of softening, as the government continued its efforts to rein in speculative demand to fend off bubble risk. Average new home prices in China's 70 major cities rose 5 percent in January from a year earlier and 0.3 percent...

  • HONG KONG, Feb 26- Geely Automobile Holdings Ltd's shares jumped on Monday after its chairman Li Shufu revealed he had built a $9 billion stake in Daimler- giving him major leverage as he attempts to persuade the German carmaker to cooperate on tech. The 9.7 percent holding makes Li Daimler's biggest shareholder and puts the owner of Mercedes-Benz in a quandary...

  • *Kuroda says "unfortunate" his price goal remains elusive. TOKYO, Feb 26- Bank of Japan Governor Haruhiko Kuroda said he had no plans to take a fresh look into why the central bank has failed to meet its inflation target, suggesting that no major changes will be made to its massive stimulus program for the time being. But thanks to the effect of our powerful monetary...

  • *Saudi Arabia Q1 output to be well below production cap- oil min. TOKYO, Feb 26- Oil prices extended gains to hit their highest level in nearly three weeks on Monday, supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC- led effort to cut global supplies. "The rise in equities made it easier to buy risk assets such as oil," said...

  • *Soybeans at highest since Feb. 28 on Argentina's dryness. SINGAPORE, Feb 26- Chicago soybean futures rose for a fifth consecutive session on Monday, climbing to a 1- year high with no let up in dry weather curbing yields in the world's third-largest exporter, Argentina. The Chicago Board Of Trade most-active soybean contract climbed 0.7 percent at $10.54-1/ 2 a...

  • BEIJING— Asian stocks rose Monday after Wall Street rallied as investors looked ahead to the U.S. Hong Kong's Hang Seng advanced 0.4 percent to 31,393.64 and Seoul's Kospi added 0.2 percent to 2,456.44. Australia's S&P-ASX 200 was up 0.5 percent at 6,028.20 and benchmarks in New Zealand, Taiwan and Singapore also advanced.

  • MELBOURNE, Feb 26- London metals climbed on Monday bolstered by reports over the weekend that base metal imports to China surged in January, underlining the country's healthy demand. *COPPER: London Metal Exchange copper rose by 0.6 percent to $7,138 a tonne by 0242 GMT, paring losses during the previous session. Shanghai Futures Exchange copper was down half a...

  • MELBOURNE, Feb 26- London metals climbed on Monday bolstered by reports over the weekend that base metal imports to China surged in January, underlining the country's healthy demand. *COPPER: London Metal Exchange copper rose by 0.6 percent to $7,138 a tonne by 0242 GMT, paring losses during the previous session. Shanghai Futures Exchange copper was down half a...

  • *Saudi Arabia Q1 output to be well below production cap- oil min. TOKYO, Feb 26- Oil prices extended gains to hit two-week highs on Monday, supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC- led effort to cut global supplies. "The rise in equities made it easier to buy risk assets such as oil," said Tomomichi Akuta, senior...

  • *Building floating LNG regasification unit in Bangladesh. SINGAPORE, Feb 23- Electricity producer Summit Power International plans to list on the Singapore Exchange Ltd by April, what is likely the first company from Bangladesh to offer shares in the city-state, as it seeks to raise funds to invest in assets across Asia. Singapore seems to be becoming a global...

  • SINGAPORE, Feb 26- Asia's booming liquefied natural gas market has seen exchanges and commodity price agencies vie to become the region's leading price benchmark. With over 70 percent of global LNG consumed in Asia, and growth concentrated in this region, it adds a potentially lucrative business to the company's already profitable operations providing oil...

  • SYDNEY, Feb 26- Asian share markets were in a cautious mood on Monday as investors braced for an event-packed week headlined by U.S. inflation data and the first House testimony by the new head of the Federal Reserve. MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.3 percent, but bourses across the region were mixed. China's ruling...

  • HONG KONG, Feb 26- Geely Automobile Holdings Ltd shares jumped as much as 8.8 percent after its chairman Li Shufu said he had built up a near 10 percent stake in Germany's Daimler- a $9 billion bet that he can access the Mercedes-Benz owner's technology. The stock surged as high as to HK $26 in early trade, its highest level since Jan. 24. Li is expected to meet Daimler...

  • TOKYO, Feb 26- Bank of Japan Governor Haruhiko Kuroda said on Monday he had no plan to conduct another comprehensive assessment of the central bank's monetary policy. "Things are proceeding smoothly, so I don't have any plan at this stage to conduct another comprehensive review," Kuroda told parliament, pointing to a steady recovery in the economy.

  • TOKYO, Feb 26- Japan's Nikkei share average rose to near three-week highs on Monday, with a majority of sectors advancing as investor confidence continued to improve after Wall Street shares made steady gains. Of Tokyo's 33 sub-indexes, 31 gained, led by pharmaceuticals and precision machinery. However, market gains were limited by caution ahead of new Federal...

  • SYDNEY, Feb 26- U.S. soybeans rose on Monday to hit a one-year high as expectations that dry weather will limit production in Argentina underpinned gains. *The most active soybean futures on the Chicago Board Of Trade were up 0.6 percent at $10.54 a bushel by 0126 GMT, near the session high of $10.55 a bushel- the highest since February 2017. *The most active wheat...

  • *Spot gold rose 0.1 percent at $1,330.59 an ounce at 0118 GMT. *The Bank of England might need to raise British interest rates somewhat sooner than Deputy Governor Dave Ramsden had expected if wage growth picks up early this year, according to a newspaper interview released on Saturday. *Hedge funds and money managers raised their net long positions in COMEX gold...

  • SINGAPORE, Feb 26- The dollar steadied on Monday, with investors looking to Federal Reserve Governor Jerome Powell's first congressional testimony for hints on the future pace of U.S. monetary tightening. Speculators' net short dollar bets fell in the week to Feb. 20, according to calculations by Reuters and Commodity Futures Trading Commission data released...

  • BARCELONA, Feb 25- The smartphone industry is bound to consolidate as the heavy investments required to remain competitive mean that, in the long-run, only a handful of firms can make money, the consumer chief of China's Huawei Technologies said on Sunday. "In the future, only three to four vendors can survive, maybe only less than four," Yu told reporters following a...

  • BERLIN, Feb 26- Germany's Christian Democrats meet on Monday to approve a coalition deal with the Social Democrats, a move that will take their leader, Angela Merkel, a step closer to a fourth term as chancellor in Europe's biggest economy. The party conference follows Merkel's announcement of her CDU picks for a new, younger cabinet intended to revive the party,...