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Hong Kong shares end 0.98% higher

Hong Kong shares rose 0.98 percent Thursday, a second straight healthy advance on receding fears that China will introduce fresh measures to tighten monetary policy. The benchmark Hang Seng Index added 218.19 points to end at 22,401.24 on turnover of HK$62.80 billion ($8.10 billion). Dealers have been spooked by recent data showing gross domestic product had grown slower than expected while manufacturing activity was softening.

Forward guidance on rates, QE not easy for ECB - Asmusssen

LONDON (Reuters) - Providing forward guidance on future interest rates of the type of large scale asset purchases being used by other major central banks would not be easy to apply in the euro zone, one of the ECB's top policymakers said on Thursday. "Large scale asset purchase programmes targetted at capital markets would not be very helpful in the euro area," ECB Executive Board member Joerg Asmussen said at an Economist banking conference.

Dollar dips after weak durable goods orders

The dollar dipped slightly against most other major currencies Wednesday after a government report showed a plunge in US durable goods orders in March. The euro edged up to $1.3013 around 2200 GMT, from $1.2997 at the same time Tuesday, benefiting from a poor German confidence survey that had traders betting on further easing by the European Central Bank. The dollar gained a little ground against the Japanese currency, rising to 99.51 yen from 99.48 yen late Tuesday, while the euro bought 129.50 yen, up from 129.30.

New US $100 bill to enter circulation in October

The United States will put a redesigned $100 bill, including an array of cutting-edge security features, in circulation in October, the Federal Reserve said Wednesday. The new $100 bill was supposed to have entered circulation in February 2011. But the release was delayed by production problems, notably creasing of the paper during printing. The Fed said the redesigned bill will begin circulating on October 8.

Britain hits annual borrowing target: official data

Britain met a recently revised annual borrowing target after government departments slashed expenditure in the final month of the year, official data showed Tuesday. The news was seen as a boost for finance minister George Osborne, four days after Fitch became the second ratings agency to strip Britain of a top triple-A credit rating, blaming the weaker economic and fiscal outlook.

Britain warns on currency of independent Scotland

British finance minister George Osborne warned Tuesday that an independent Scotland would sacrifice control over much of its economy if it stayed in a currency zone using the pound. Launching a Treasury paper on currency options ahead of a September 2014 referendum, Osborne said there was also no guarantee the rest of the United Kingdom would accept such an arrangement. Osborne told an audience in Glasgow that Scotland could otherwise end up like Panama and Montenegro, which use the US dollar and the euro respectively but with no control over policy.

Asian markets hit by weak China data, stronger yen

Asian shares mostly fell on Tuesday as fresh data showed Chinese manufacturing weakening further this month, while Japan's Nikkei succumbed to profit-taking and a pick-up in the yen. The latest figures from China add to growing concerns about the world's number two economy, a crucial driver of global growth, following last week's worse-than-forecast gross domestic product results. Shanghai tumbled 2.57 percent, or 57.63 points to 2,184.54 and Hong Kong was down 1.08 percent, or 237.76 points, at 21,806.61.

OECD's Jones: difficult to predict when BOJ will meet its price goal

TOKYO (Reuters) - It is too difficult to predict when the Bank of Japan will meet its 2 percent inflation goal, a senior economist from the Organisation for Economic Co-operation and Development said on Tuesday. It would be acceptable if it took three years for the BOJ to meet its goal, and it is important for the BOJ to continue its quantitative easing until its price goal is met, Randall Jones said. The BOJ agreed earlier this month to double the monetary base to meet its 2 percent inflation target over the next two years.

Euro up against dollar as Italian president reelected

The euro edged higher against the dollar Monday after Italy reelected its president in a move towards greater political stability. Meanwhile, the yen strengthened marginally against major currencies, but remained fairly weak following its big stimulus push. Near 2200 GMT, the euro was trading at $1.3062, up from $1.3049 late Friday. The euro was trading at 129.77 yen, compared with 129.86 yen before the weekend. The dollar was trading at 99.35 yen compared with 99.52.

Lending scheme retooled to help small firms

By William Schomberg and David Milliken LONDON (Reuters) - Britain sought to inject new life into the country's stagnant economy on Wednesday by giving banks greater incentives to lend to small and medium-sized firms which complain they are starved of credit. The Bank of England and the Treasury said a new phase of their flagship Funding for Lending Scheme would be heavily skewed towards smaller firms.
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