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China targets hot money inflows with new forex rules

By Gabriel Wildau SHANGHAI/BEIJING (Reuters) - China has released new rules to curb currency speculation amid signs that hot money inflows have helped push the yuan to a series of record highs in recent weeks. The rules tighten limits on long yuan positions that banks can hold for their own accounts and aim to discourage firms from using dollar loans as a means to speculate on yuan gains.

China April export growth seen edging up from low base

BEIJING (Reuters) - China's annual export growth may have picked up slightly in April due to a low comparison from a year ago, while import growth probably eased, a Reuters poll showed, suggesting the underlying momentum for both the domestic and global economies remains tepid. Economists said the likely uptick in the year-on-year export figure cannot mask weakness in real external demand, given the patchy recovery in the U.S. and no quick turnaround for the euro zone.

Japanese traders return from holiday in buoyant mood, sending Nikkei up to 5-year highs

LONDON - Japanese stocks outperformed all others Tuesday as traders in the country returned from a public holiday in buoyant mood, sending the Nikkei index above 14,000 for the first time in nearly five years. The Nikkei surged 3.6 per cent to 14,180.24 on its first day of trading following the Golden Week holiday — that's the first time the Nikkei has breached the 14,000 mark since June 2008.

Asian stocks climb on US jobs report

Asian markets rose Monday after a strong US jobs report revived optimism over the US economic recovery and drove Wall Street to record highs. Hong Kong shares rose 0.99 percent, or 225.13 points, to close at 22,915.09 while Shanghai advanced 1.16 percent, or 25.67 points, to 2,231.17. Sydney added 0.52 percent, or 26.7 points, to 5,156.2. Tokyo and Bangkok were closed for holidays.

Asian stocks climb on US jobs report

Asian markets rose Monday after a strong US jobs report revived optimism over the US economic recovery and drove Wall Street to record highs. Hong Kong shares rose 0.99 percent, or 225.13 points, to close at 22,915.09 while Shanghai advanced 1.16 percent, or 25.67 points, to 2,231.17. Sydney added 0.52 percent, or 26.7 points, to 5,156.2. Tokyo and Bangkok were closed for holidays.

China warns US on turning away investors

China on Thursday warned that the United States was turning away major investment from the growing Asian economy after several high-profile firms faced obstacles on security grounds. Cui Tiankai, China's new ambassador in Washington, acknowledged that most investment in the United States was approved but said that Chinese companies keen to enter the world's largest economy were alarmed by several rejections.

Hong Kong shares close 0.26% lower

Hong Kong shares fell 0.26 percent to a five-month low on Thursday, a fifth straight loss, following falls on Wall Street and on concerns over China's economy. The benchmark Hang Seng Index fell 57.15 points to end at 21,512.52 -- its worst close since November 20 -- on turnover of HK$54.48 billion ($7.03 billion). Traders are still reeling from data out of China on Monday showing the economy, the world's second biggest, grew at a slower pace in January-March than it did in the previous three months, stoking fears about a recent recovery.

Hong Kong shares end 0.47% lower

Hong Kong shares fell 0.47 percent Wednesday as an early bargain-buying rally was wiped out by a late sell-off by traders concerned about the strength of China's economy. The benchmark Hang Seng Index fell 102.36 points to end at 21,569.67 -- their lowest level for 2013 -- on turnover of HK$62.39 billion ($8.05 billion). The index enjoyed an early bounce after two days of losses fuelled by data out of China on Monday showing growth in the world's number two economy slowed in January-March, indicating a recent pick-up may have stalled.

Chinese economy slowed in 1st quarter

Beijing, Apr 15 (EFE).- China's economy grew 7.7 percent on an interannual basis in the first quarter, slightly slower than the 7.9 percent pace of the last three months of 2012, the National Statistics Bureau said Monday. The world's No. 2 economy posted gross domestic product of 11.89 trillion yuan ($1.92 trillion) during the January-March period amid "stable and constant" growth, an NBS spokesman said.

Gold set for worst two-day loss since 1983

By Veronica Brown LONDON (Reuters) - Gold headed for its biggest two-day drop in 30 years on Monday as funds accelerated their exits from the market, and investors also cut exposure to oil, copper and grain after underwhelming Chinese growth data. The precious metal slid further into bear territory, dropping more than $30 in a matter of minutes at one point. Losses widened to more than 6 percent at the lows as prices breached support at $1,400 per ounce after falling 5.3 percent on Friday.
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