Xu Lirong News
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Hedge funds cut bullish commodity bets for the first time this month as weaker manufacturing from China and Europe eclipsed central banks’ efforts to boost growth, driving down prices the most since June.
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China’s two biggest shipowners said a market slump may continue for at least two more years as more vessels enter service and the country’s economic growth slows.
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Cosco Shipping Co.’s Chairman Xu Lirong resigned today to take up a new position, the company said in a statement to the Shanghai stock exchange, without giving details of Xu’s new job.
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China’s stocks plunged, driving the benchmark index to an eight-month low, on concern government measures to curb property speculation and cool inflation will hurt economic growth.
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China’s stocks plunged, driving the benchmark index down the most in almost eight months, on concern a government crackdown on the property market will increase bad loans and damp consumer spending.
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Asian stocks fell, dragging the MSCI Asia Pacific Index down by the most in two months, on concern a U.S. suit against Goldman Sachs Group Inc. signals increasing regulatory scrutiny on financial companies.
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China’s Shanghai Composite Index , the first of the 10 biggest benchmark measures to enter a bear market this year, will rebound as a surge in exports lowers the risk of a slump in economic growth, according to Franklin Templeton’s local fund management unit.
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Asian stocks fell for the first week in four as China boosted steps to cool property prices, Greek debt worries resurfaced, and a U.S. suit against Goldman Sachs Group Inc. raised concern bank regulation will increase.
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Most Chinese stocks fell, led by consumer companies and commodity producers, on concern the government will increase borrowing costs to curb accelerating inflation and rising property prices.
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Stocks fell in Asia and Europe, U.S. futures declined and the euro weakened to its lowest level in almost 14 months on growing concern Greece’s debt crisis will spread and derail the global recovery.
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