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U.S. Stocks Narrow Gains before Closing

U.S. stocks on Monday narrowed gains before closing, ending mixed. In the earlier trading sessions, Wall Street rose on China's strong economic data and several merger deals. China's retail sales rose at an 18.7-percent annualized rate in November, which buoyed the market ...

Dollar Slumps as Investors Worry About U.S. Budget Deficit

The U.S. dollar fell broadly against major currencies in late New York trading on Monday as investors worried about U.S. budget deficit due to probable tax cut extension. Moody's warned on Monday that it could move a step closer to cutting the U.S. Aaa rating if President Barack ...

Crude Prices Gain on Unchanged OPEC Output

Crude prices rose on Monday as the Organization of Petroleum Exporting Countries (OPEC) weekend meeting in Ecuador kept production quotas unchanged and China's strong economic data suggested rising demand. The oil ministers of OPEC decided to maintain the output quotas, which ...

Gold Gains Momentum on China Inflation and Safe-Haven Demand

Gold futures on the COMEX Division of the New York Mercantile Exchange rebounded on Monday, as the last weekend saw no interest rate increases in China as anticipated. Meanwhile, a weaker U.S. dollar also helped push up the gold price. Silver and platinum both rallied. The most ...

U.S. Stocks Rise on China's Strong Retail Sales, Merger Deals

U.S. stocks opened higher and gained in early trading Monday as China's strong economic data buoyed the sentiment and several merger deals boosted confidence in equities. China retail sales rose at an 18.7-percent annualized rate in November, while inflation rose by a higher than ...

Asian Market Roundup Dec 23

China Chinese equities closed lower on Thursday with the benchmark Shanghai Composite Index down 0.79 percent, or 22.68 points, to close at 2,855.22 points. The Shenzhen Component Index lost 0.96 percent, or 122.38 points, to close at 12,644.58 points. Combined turnover shrank to ...

Oil falls further in Asian trade

World oil prices dropped further in Asian trade Wednesday mainly on weak regional stocks while a strong dollar also dent the black gold. Light sweet crude for October delivery was seen trading at $73.71 a barrel at 12.00 noon Singapore time while Brent crude was at $77.31 a ...

China's Yuan Advances to 6.6466 per USD Wednesday

The value of yuan gained as the central parity rate of Renminbi, China's currency, was set at 6.6466 per U.S. dollar Thursday, compared with Wednesday's 6.6548, according to the data released by the China Foreign Exchange Trading System. At present, the yuan is allowed to float ...

Dollar Mixed as Euro Keeps Losing Streak

The U.S. dollar traded mixed against major currencies in late New York trading on Wednesday, as the Euro kept on falling against the dollar. The Euro rose to a session peak of 1.3183 against the dollar earlier on Wednesday, bouncing off its nearly-three-week trough of 1.3073 seen ...

Gold Recognised as "Reference Point" to Monetary System Reform

World Bank President Robert Zoellick reaffirmed his proposal to use gold as a "reference point" to reform the current international monetary system on Wednesday in Paris. "What I suggested is that gold serves as a key reference point to allow people to assess the relations ...

Oil Rises on US Inventories, Q3 GDP

Crude prices on Wednesday rose for the fourth straight day and hit its 26-month high as U.S. weekly crude oil inventories dropped by 5.3 million barrels last week and GDP growth for the third quarter was revised higher to 2.6 percent. Light, sweet crude for February delivery rose ...

US Stocks Refresh 2-year Highs

The U.S. stocks climbed on Wednesday to fresh two-year highs as new economic data showed more recovery signs. The Commerce Department released its final reading of GDP growth before the opening bell, which showed the U.S. economy recovered at a modestly faster pace in the third ...

Demand boosts port operator

The recovery in global trade helped lift cargo turnover at port operator China Merchants Holdings (International) Co which went on to post a 12 percent climb in first-half earnings. Its net income rose to HK$1.93 billion (US$248 million), or HK$0.79 per share, the firm said in a ...

Gold Falls on Yearend Dumping

Gold futures on the COMEX Division of the New York Mercantile Exchange declined on Wednesday, as an increasing number of investors opted to cash in their holdings of gold, which has gained 27 percent so far this year, before yearend. The most active gold contract for February ...

China's Fast Developing Service Industry Needs Further Boost: Report

China's service industry experienced rapid growth from 2006 to 2010, but it still lags behind the country's overall development, a work report on China's service industry has said. "Despite fast growth in the 11th five-year period, the overall development of our country's service ...

Asian Market Roundup Dec 22

China Chinese equities closed lower on Wednesday as the benchmark Shanghai Composite Index dropped 0.9 percent, or 26.21 points, to close at 2,877.9 points. The Shenzhen Component Index lost 0.82 percent, or 105.49 points, to close at 12,766.95 points. Combined turnover shrank to ...

The battle for Gome turns personal

Refrigerators and air conditioners may not seem like the stuff of high drama, but sales of home appliances form the backdrop of a riveting corporate soap opera pitting the management of electrical retail giant Gome against its disgraced founder and former Chairman Huang Guangyu. ...

U.S. Stocks Hit New Highs on Market Optimism

U.S. stocks carried its rising momentum to another day on deal making news and upbeat corporate earnings, pushing major indexes to a fresh two-year closing high. The Dow Jones industrial average gained 55.03 points, or 0.48 percent, to 11,533.16, while the Standard & Poor's 500 ...

Cinema industry booms on urbanites' growing incomes

Rising interest in the silver screen in China has encouraged major media companies to embark on a big drive to build more cinemas. The film industry boom has been fueled by the improved living standards enjoyed by many urban residents, with box office receipts in China expected ...

Asian Market Roundup Dec 21

China Chinese equities closed higher on Tuesday as the benchmark Shanghai Composite Index went up 1.79 percent, or 51.20 points, to close at 2,904.12 points. The Shenzhen Component Index gained 2.51 percent, or 314.90 points, to close at 12,872.45 points. Combined turnover shrank ...
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