Asia/Pacific

Brokerage house

Chinese stocks tumble again, ignoring Beijing's blandishments

China stocks fell sharply again on Thursday, fighting off fresh moves by regulators to restore confidence and raising questions about how much more firepower Beijing can bring to bear before a full-scale panic sets in.

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Stock index

China stocks slide despite calming efforts

China's stock markets closed sharply lower on Monday after a frantically volatile day of trading, despite surprise monetary easing moves by the central bank at the weekend.

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EuroZone

China says euro zone has ability to resolve debt crisis

China's Foreign Ministry said on Monday that the euro zone has the wisdom and ability to resolve the Greek debt crisis, after Athens failed to strike a deal with its lenders, taking it a step closer to a default that could force its exit from the euro zone.

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Asian Infrastructure Investment Bank

China-backed multilateral bank to take concrete shape this week

One of China's biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank (AIIB) in Beijing.

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IndiGo Airlines

India's IndiGo to file prospectus for $400 million float next week: sources

India's biggest airline IndiGo is set to file a prospectus next week for a domestic stock market listing, which is expected to raise as much as $400 million, according to three sources with knowledge of the matter.

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People's Bank of China

China central bank eases policy again to support economy

China's central bank cut lending rates for the fourth time since November and trimmed the amount of cash that some banks must hold as reserves, stepping up efforts to support an economy that is headed for its poorest performance in a quarter century.

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Jack Ma

Alibaba affiliate launches Internet bank for SMEs, 'little guys'

Alibaba Group Holding Ltd's financial affiliate launched on Thursday Internet bank MYbank, targeting the small- and medium-sized Chinese enterprises that have struggled to obtain credit from major financial institutions.

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Pump jack

Crude prices steady, U.S. gasoline stocks data disappoints

Oil prices were steady on Thursday as an unexpected build in U.S. gasoline inventories offset a higher than forecast draw in crude stocks.

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Haruhiko Kuroda

BOJ says factory output likely hit soft patch in April-June

The Bank of Japan said it expects factory output to fall for the first time in three quarters in April-June on weak Asian demand, underscoring the fragile nature of the economic recovery.

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Alibaba Group

China to promote cross-border e-commerce as incomes rise

China will increase support for cross-border e-commerce as the world's second-largest economy shifts from manufacturing to higher-value services, the government said.

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Raghuram Rajan

Food price surge puts India's Rajan on the back foot

Prices of many foodstuffs are surging in India, despite a good start to monsoon rains - an unexpected boon for wholesalers, but a major headache for the central bank and a government hoping for its help to reboot the economy.

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Gold ornaments

India proposes gold-linked bonds to lower bullion imports

India is planning to issue sovereign bonds linked to the bullion price in an effort to divert some of the estimated 300 tonnes of annual demand for gold bars and coins, and reduce bullion imports that can push up the trade deficit.

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Bank of Japan

BOJ's Kuroda backpedals on yen warning, says weakness not so harmful

Bank of Japan Governor Haruhiko Kuroda said the yen's current weakness was not inflicting severe pain on the economy, toning down an earlier warning to markets against pushing the currency too far down.

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Hong Kong Stock Exchange

Asian shares edge higher on Fed caution, China sell-off intensifies

Asian shares rose for a third consecutive day on Friday even as China stocks tumbled into correction territory, while the Federal Reserve's cautious stance towards lifting interest rates kept the dollar on the back foot.

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Alibaba Group HQ

Alibaba's Ant Financial valued at $45 billion after new funding: source

China's Ant Financial Services Group, e-commerce giant Alibaba Group Holding Ltd's (BABA.N) internet finance affiliate, closed a private placement valuing the unit at about $45 billion, a person familiar with the matter said Thursday.

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