STOCKS NEWS SINGAPORE-Shares extend gains for 5th session
(Reuters
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03/07/2012)
Singapore shares rose by midday, extending gains for the fifth straight session, as weak manufacturing data around the world spurred hopes that central banks could introduce more measures to help support the global economy. At 0341 GMT, the benchmark
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CANADA STOCKS-TSX near 2-month high on global stimulus hopes
(Reuters
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03/07/2012)
Canada's main stock index hit its highest level in nearly two months on Tuesday, led by a rally in mining and energy shares, as hopes of further monetary easing by central banks helped allay worries about the impact of the euro zone crisis. Raising
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China Non-Manufacturing Gauge Shows Faster Expansion in June
(Bloomberg
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03/07/2012)
China’s non-manufacturing industries expanded at a faster pace in June as the property market and new orders picked up, an official survey indicated. The purchasing managers’ index rose to a three-month high of 56.7 in June from 55.2 in May, the National
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U.S. Stock Futures Are Little Changed; Microsoft Falls
(Bloomberg
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03/07/2012)
U.S. stock-index futures were little changed, indicating equities will halt a two-day rally that took the benchmark Standard & Poor’s 500 Index to an almost two-month high, as investors awaited a report on factory orders. Microsoft Corp. (MSFT) fell 1.9
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Hong Kong shares reach a 7-week high, China edges up
(Reuters
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03/07/2012)
China shares rose for a third day while the benchmark in Hong Kong, which reopened on Tuesday after a holiday, was Asia's top performer, spurred by hopes of more monetary easing by the European Central Bank to revive economic growth. The Hang Seng index
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U.K. Mortgage Approvals Drop Slightly In May
(RTT News
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03/07/2012)
U.K. mortgage approvals dropped in May, reflecting the ongoing subdued activity in the housing market, official data showed Tuesday. A separate survey indicated that construction activity contracted at the fastest pace in two-and-a-half years in June
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Hong Kong May Retail Sales Growth Slows More Than Expected
(RTT News
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03/07/2012)
Hong Kong's retail sales increased at a slower pace in May, and the rate of growth missed economists' expectations, preliminary data released by the Census and Statistics Department showed Tuesday. Retail sales volume increased 5.8 percent on an annual
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Sensex ends flat
(The Hindu Business Line
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03/07/2012)
Indian benchmark indices, the Sensex and the Nifty, ended the session flat on Tuesday. The 30-share BSE index Sensex was up 18.65 points or 0.11 per cent at 17,417.63 and the 50-share NSE index Nifty was up 8.35 points or 0.16 per cent at 5,286.95. Among
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KL shares close higher
(Business Times
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03/07/2012)
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur. The FTSE Bursa Malaysia KLCI Index rose 0.4 per cent to 1,607.74, a record close. Plantation stocks:
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Business sentiment improves at nation's top manufacturers
(The Japan Times
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03/07/2012)
Business sentiment among large manufacturers improved for the first time in three quarters in the three months through June, reaching minus 1, according to the Bank of Japan's quarterly "tankan" index released Monday. The business index for major
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Hong Kong shares close at 7-week high
(Reuters
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03/07/2012)
Hong Kong's benchmark bounced to a seven-week high on Tuesday, reopening higher after a holiday on hopes of more monetary easing by the European Central Bank to revive economic growth. The Hang Seng index closed the day up 1.5 percent at 19,735.5. The
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Inflation expected to soften from mid-October: Basu
(Business Standard
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03/07/2012)
Inflation would continue to hover around 7.5% for another two to three months but is expected to soften from mid-October, Chief Economic Adviser Kaushik Basu said today. "My expectation on inflation as per wholesale price index is, for another two-three
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Telecom shares gain, Bharti up 4%
(Business Standard
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03/07/2012)
Shares of telecom service providers are in limelight on the bourses ahead of the Cabinet meeting today to consider a fresh proposal on prospective spectrum pricing. “The Cabinet is likely to discuss today contentious issue of one-time spectrum charge
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South Korean manufacturing sector contracted in June
(Steelguru
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03/07/2012)
RTT News reported that South Korea's manufacturing sector contracted in June 2012 for the first time in five months. The Purchasing Managers' Index for manufacturing fell to 49.4 in June 2012 from 51 in the previous month. The composite indicator
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Japan's Wages Drop For First Time In Four Months
(RTT News
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03/07/2012)
Japan's average monthly wage earnings in May logged it first decline in four months, data from the Ministry of Health, Labour and Welfare showed Tuesday. Cash earnings were down 0.8 percent annually, following a 0.2 percent rise in April. The decline was
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Oriental Bank cuts select deposit rate by 25 bps
(The Hindu Business Line
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03/07/2012)
Taking a big step, Oriental Bank of Commerce today cut deposit rates by 25 basis points on term deposits of 1-2 years maturity. With this move, OBC will from July 5 offer interest rate of 9.25 per cent on term deposits of 1-2 years maturity, said Mr
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Spanish Unemployment Falls For Third Month
(RTT News
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03/07/2012)
Unemployment in Spain declined 2.1 percent month-on-month in June, the labor ministry data showed Tuesday. Unemployment has now fallen for three consecutive months. The number of unemployed fell by 98,853 from the month earlier to 4.62 million. The
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Policy action hope spurs European shares
(Reuters
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03/07/2012)
European shares rose early on Tuesday as the relief rally sparked by EU leaders' crisis-fighting agreement continued and investors bet on further policy action after weak economic data showed the global economy was in need of further stimulus. By 0702
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Corporation Bank aims at Rs 3 lakh cr biz
(The Hindu Business Line
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03/07/2012)
Corporation Bank hopes to achieve a business of Rs 3 lakh crore by March 2013. Speaking at the 30th year celebration of Corporation Bank Officers’ Organisation’s journal Officers’ Voice here on Monday evening, Mr Ajai Kumar, Chairman and Managing
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OIS rates rise on oil, OMO worries
(Reuters
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03/07/2012)
OIS rates edged up with paying interest seen more at longer-end on risk sentiment. The 1-year OIS is up 4 basis points at 7.82 percent, while 5-year rate gained 5 basis points at 7.25 percent. Brent crude fell towards $95 a barrel on Monday, after weak
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Bond yields inch down on weak euro
(Reuters
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03/07/2012)
Benchmark 10-year bond yield is down 1 basis point at 8.16 per cent following weak data in Europe and the US which raises expectations for more action from the central banks in these regions. Traders say that the debt sale on Friday would be the next
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Nifty hits 5300; Sensex gains over 100 points, above 17500
(The Economic Times
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03/07/2012)
The Nifty opened in the positive terrain and hit the psychological level of 5,300 led by gains in realty, banking and power stocks on the back of positive cues from Asian peers. The index is at its highest since April 20. At 09:35 a.m., the 50-share
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Japan Monetary Base Rises 5.9% In June
(RTT News
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03/07/2012)
The monetary base in Japan was up 5.9 percent on year in June, the Bank of Japan said on Tuesday, standing at 120.214 trillion yen. That follows the 2.4 percent increase in May. Banknotes in circulation were up 2.2 percent on year, while coins in
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China Non-Manufacturing Growth Strengthens In June
(RTT News
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03/07/2012)
Growth of China's non-manufacturing sector improved in June, a report from China Federation of Logistics and Purchasing showed Tuesday. The purchasing managers' index for the non-manufacturing sector rose to 56.7 in June from 55.2 in May. An index
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Laiwu Steel posts revenues of CNY 6 billion for May
(Steelguru
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03/07/2012)
Shandong based Chinese steel producer Laiwu Steel in May this year it achieved business revenues of CNY 6.6248 billion while recording a net profit of CNY 33 million. In May, Laiwu Steel total sales of finished steel showed a MoM increase of 30,500
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