Rio Tinto Group, the world’s second-biggest iron ore shipper, said short-term price fluctuations will continue after a credit squeeze in China and high stockpiles plunged the commodity into a bear market.
China’s CSI 300 Index rebounded from the lowest level in five years as the yuan halted a two-day slide and money-market rates declined. Consumer-staple producers and property developers led the advance.
Holders of bonds sold by Shanghai Chaori Solar Energy Science & Technology Co. will consider a lawsuit to force payment after the company became the first to default on onshore corporate debt in China.
China’s central bank Governor Zhou Xiaochuan said deposit rates will be liberalized in one to two years, as the nation expands the role of markets even amid an economic slowdown and risks from a credit boom.
Investigators from at least nine countries hunting for a missing Malaysian passenger jet are sorting through a jumble of facts and theories that so far don’t add up to a clear explanation of what happened.
Asian stocks rose, as a rebound by Chinese and Hong Kong shares helped the regional benchmark index higher after the biggest slump this month, and metals rallied. Crops extended declines and Australia’s dollar strengthened.
Barrick Gold Corp., the world’s biggest producer of the metal, plans to divest a 10 stake in its African arm less than four years after first selling shares and creating a separate listing for the stock.