Patrick Bennett News
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A Chinese manufacturing survey pointed to an 11th month of contraction and Japan’s exports fell in August, supporting the case for increased stimulus as Asia’s growth slows.
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Chinese industrial companies’ profits fell in July by the most this year, a government report showed today, adding to evidence the nation’s economic slowdown is deepening.
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Foreign direct investment in China dropped 6.9 percent in June from a year earlier, the government said today as it signaled extra efforts to draw capital from abroad in the world’s second-biggest economy.
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Chinese industrial companies’ profits fell for a third month in June, a government report showed today, as decelerating growth in the world’s second- biggest economy hurt corporate earnings.
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China’s railway infrastructure investment may double in the second half of this year from the first six months, aiding efforts to reverse a slowdown in the world’s second-biggest economy.
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Japanese stocks gained, sending the Nikkei 225 Stock Average to its highest close in two months, after European leaders made a breakthrough in resolving the debt crisis that has roiled markets this year.
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China’s yuan advanced to a 17-year high after the government said it plans to expand cross-border use of the currency and improve foreign-exchange management at the weekend’s National People’s Congress.
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Hong Kong’s benchmark stock index rebounded from a two-month low after China Shenhua Energy Co. said it will buy assets from its parent, and as commodity producers climbed along with metal prices.
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The yuan reached a 17-year high before Presidents Hu Jintao and Barack Obama meet in Washington today to discuss issues including China’s currency policy.
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Yuan forwards weakened the most in a month after China reported a surprise trade deficit for February, easing pressure on the currency to appreciate.
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