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China to permit cross-border stock trading between Shanghai, Hong Kong exchanges

HONG KONG - China unveiled a plan Thursday to give foreign investors greater access to its stock market by allowing investors in Shanghai and Hong Kong to trade shares on each other's exchanges. Securities regulators in China and the semiautonomous Chinese territory of Hong Kong said that the stock exchanges in both cities would be connected in a pilot program.

Hong Kong. Shanghai to begin cross-market trading

China has unveiled a plan Thursday allowing cross-market trading between Hong Kong and Shanghai in the latest move by mainland leaders to open up the country's capital markets and promote the yuan as an international unit. The China Securities Regulatory Commission said in a joint statement with the Securities & Futures Commission of Hong Kong the trial will begin within six months and include enable dealers to invest in designated shares.

Hong Kong. Shanghai to begin cross-market trading

China unveiled a plan Thursday allowing cross-trading between Hong Kong and Shanghai's stock markets in the latest move by mainland leaders to open up the country's capital markets and promote the yuan as an international unit. The China Securities Regulatory Commission said in a joint statement with the Securities & Futures Commission of Hong Kong the trial will begin within six months and enable dealers to invest in designated shares.

Hong Kong shares close up 1.51%

Hong Kong and Shanghai shares rallied on Thursday as dealers welcomed plans to link the two cities' bourses and allow cross-market investments. The news overshadowed another disappointing set of trade data out of China that added to concerns about the world's second biggest economy. In Hong Kong the benchmark Hang Seng Index rose 1.51 percent, or 343.79 points, to 23,186.96 on turnover of HK$106.91 billion (US$13.79 billion).

Russia's central bank right to shore up ruble short term: World Bank

WASHINGTON (Reuters) - Russia's central bank made the right decision to defend the ruble in the short term and prevent excessive volatility in the exchange rate when the Ukraine crisis escalated, a senior official at the World Bank said on Wednesday. The Russian Central Bank was forced in early March to halt its shift towards inflation targeting and instead tame the ruble's fall after Russia seized and annexed Ukraine's Crimea. Since then, the bank has spent nearly $30 billion in currency interventions.

Korea's import prices dip for 19th month in March

SEOUL, April 10 (Yonhap) -- South Korea's import prices fell for the 19th straight month in March as oil prices declined and the local currency gained against the dollar, the central bank said Thursday. In local currency terms, the country's import prices declined 4.5 percent in March from a year earlier, compared with a 4.8 percent on-year fall in February, according to the Bank of Korea (BOK). It marked the 19th straight month of on-year declines in import prices since September 2012 when they dipped 2.2 percent on-year.

Korea's import prices dip for 19th month in March

SEOUL, April 10 (Yonhap) -- South Korea's import prices fell for the 19th straight month in March as oil prices declined and the local currency gained against the dollar, the central bank said Thursday. In local currency terms, the country's import prices declined 4.5 percent in March from a year earlier, compared with a 4.8 percent on-year fall in February, according to the Bank of Korea (BOK). It marked the 19th straight month of on-year declines in import prices since September 2012 when they dipped 2.2 percent on-year.

India regulator examines Sun, Ranbaxy merger trading: source

By Himank Sharma and Zeba Siddiqui MUMBAI (Reuters) - India's market regulator will ask Ranbaxy Laboratories and Sun Pharmaceutical Industries for more information about their planned $3.2 billion merger and seek trading data from stock exchanges after shares in Ranbaxy surged in the run-up to the deal, a senior source at the regulator said on Wednesday.

Olympus says being sued by six banks for $273 million over 2011 scandal

By Sophie Knight TOKYO (Reuters) - Olympus Corp on Wednesday said six Japanese trust banks have filed a lawsuit against the endoscope maker seeking 27.9 billion yen ($273 million) for damages relating to a $1.7 billion accounting scandal in 2011. The six banks, which include State Street Trust and Banking Co Ltd, Mitsubishi UFJ Trust and Banking Corp and The Nomura Trust and Banking Co Ltd, are seeking compensation for false financial statements submitted by Olympus in the 11 years to 2011.

Tokyo stocks down 1.82% by break

Tokyo stocks were down 1.82 percent on Wednesday morning after the yen soared on fading hopes for near-term monetary easing by the Bank of Japan, denting exporter shares. The benchmark Nikkei 225 index shed 266.44 points to 14,340.44 by the break, while the Topix index of all first-section shares lost 1.94 percent, or 22.76 points, to 1,151.80. "The yen's rise is a big negative for exporters and financials," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.
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