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U.S. China News 2012.06.07

Thu, June 7, 2012

U.S. Stocks Rise as China Cuts Interest Rates to Bolster Growth
San Francisco Chronicle
June 7 (Bloomberg) — US stocks advanced, sending the Standard & Poor’s 500 Index higher for a fourth straight day, after China cut interest rates for the first time since 2008 to bolster growth in the world’s second-largest economy.
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US stocks open higher following China rate cut
BusinessWeek
The Dow surged 286 points the day before as hopes grew that more economic stimulus is on the way in both the US and Europe. China cut its benchmark lending rate Thursday for the first time in nearly four years, adding to efforts to reverse a sharp
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US STOCKS-Early rally fades after Bernanke’s comments
Reuters
* Indexes pull back after Bernanke comments * China interest rate cut lifts materials stocks * Spanish auction successful, Fitch cuts rating * Dow up 0.7 pct, S&P up 0.5 pct, Nasdaq up 0.2 pct By Chuck Mikolajczak NEW YORK, June 7 (Reuters) – US stocks
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US Stocks Rise, Pare Gains After Bernanke’s Speech
Wall Street Journal
By Chris Dieterich NEW YORK–US stocks rose after China’s central bank took action to spur economic growth, but benchmarks pared gains as Federal Reserve Chairman Ben Bernanke stopped short of signaling new stimulus measures. The Dow Jones Industrial
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US STOCKS-Futures jump after China’s surprise rate cut
Reuters
China interest rate cut boosts risk assets * Bernanke to testify before congressional committee * Hedge funds take a hit in May * Futures up: S&P 10 pts, Dow 63 pt, Nasdaq 18.50 pts By Edward Krudy NEW YORK, June 7 (Reuters) – US stocks looked set to
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US STOCKS-Wall St extends surge on China’s surprise rate cut
Reuters
China interest rate cut boosts stocks * Bernanke to testify before congressional committee * Mining, energy companies get a lift * Indexes up: S&P 1.1 pct, Dow 1 pct, Nasdaq 1 pct By Edward Krudy NEW YORK, June 7 (Reuters) – US stocks jumped at the
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US SMALL/MIDCAPS-Materials rally after China rate cut
Reuters
Shares rose for a third day, but broader gains were limited after US Federal Reserve Chairman Ben Bernanke dashed hopes for further stimulus measures from the central bank. Consumer discretionary shares fell. China’s central bank lowered benchmark
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US futures head higher following China rate cut
Boston.com
NEW YORK (AP) — US stock futures rose Thursday after China cut its benchmark lending rate in another bid to revive its economy, which has slowed markedly. Dow Jones industrial average futures are up 72 points to 12491. Standard & Poor’s 500 futures
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China cuts rates as global economic crisis deepens
Reuters
The country’s first rate cut since the depths of the global financial crisis in 2008/09 came after the Federal Reserve’s second-highest official made a case for more policy easing in the United States, and followed an emergency conference call on
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China rate cut, Fed stimulus hopes boost markets
Fox News
LONDON – Global markets rose on Thursday, boosted by China’s decision to cut interest rates, hopes that the Federal Reserve will consider new support for the US economy and speculation Europe is preparing to give Spain financial aid.
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U.S. Stocks Pare Gain as Bernanke Comment Tempers China Optimism
San Francisco Chronicle
June 7 (Bloomberg) — US stocks trimmed gains after Federal Reserve Chairman Ben S. Bernanke said the economy is at risk from Europe’s debt crisis and the prospect of fiscal tightening, tempering optimism over a cut in Chinese rates.
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US Stock Futures Rise on Stimulus Optimism
Bloomberg
Baidu Inc. (BIDU), the operator of China’s biggest Internet search engine, gained in early New York trading as Apple Inc. (AAPL) was said to plan to add the company’s search engine on iPhones in China. Facebook Inc (FB) shares rose 0.6 percent.
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US, China woo India for control over Asia-Pacific
Times of India
NEW DELHI: With the Asia-Pacific region emerging as the theatre of escalating USChina rivalry, India on Wednesday found itself in a rare and enviable situation: of being wooed by the competing giants. Visiting US defence secretary Leon Panetta said
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US won’t stop tweeting China air quality readings
AFP
WASHINGTON — The United States said that its embassy and consulates in China would not stop tweeting reports on air quality readings in Beijing and Shanghai, which have annoyed the Chinese authorities. “This is an initiative by the embassy in Beijing,
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Aquino visits US as allies eye China
ABS CBN News
That meeting comes as Washington has begun helping Manila beef up its modest military capacities in the face of a confrontation with China over contested South China Sea reefs. The United States, colonial ruler of the Philippines from 1898-1946 and a
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China demands US stop telling people how dirty the air is
National Post
China has told “foreign embassies”, meaning the US, to stop releasing figures on the level of pollution in major Chinese cities. According to the Associated Press: “Only the Chinese government is authorized to monitor and publish air quality
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China cuts interest rates by 25 bps in surprise move. Full Article
Reuters
MARC OSTWALD, RATE STRATEGIST, MONUMENT SECURITIES, LONDON “Overall in the current environment where there’s some hope related to Europe, renewed dovish talk from the FOMC hinting at perhaps more measures from them and the Chinese rate cut puts us in a
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Philippines president visits US as allies eye China
Reuters
Visit shores up historic US-Philippines alliance * Aquino has eye on territorial dispute with China * US helps Manila’s defense build-up, seeks no bases By Paul Eckert WASHINGTON, June 7 (Reuters) – Philippines President Benigno Aquino arrived in the
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Rectangle Oreos and how US designs for China
msnbc.com
A survey published earlier this year by the American Chamber of Commerce in Shanghai, the largest foreign trade group in China, showed that for about three in five of its member companies, the top priority here is producing or sourcing goods in China
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India-US defence talks focus on China, Afghanistan
Pakistan Daily Times
NEW DELHI: US Defence Secretary Leon Panetta held talks Wednesday with his Indian counterpart focused on NATO’s planned exit from Afghanistan and China’s rising power, officials said. Panetta’s two-day visit to New Delhi is part of a tour of the region
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U.S. Stock Futures Climb After China Cuts Benchmark Rates
Bloomberg
US stock-index futures gained after China cut interest rates for the first time since 2008. Standard & Poor’s 500 Index futures expiring this month advanced 0.7 percent to 1325 at 7:10 am in New York. Dow Jones Industrial Average futures rose 0.5
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EMERGING MARKETS-Latam currencies gain on China rate cut
Reuters
Bernanke told a Congressional committee the Fed was monitoring “significant risks” to the US recovery but gave no signals of a third round of bond buying to spur growth, curbing investor enthusiasm slightly. “The cut in China is dominating,
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GLOBAL MARKETS-China rate cut lifts shares; dollar up on Bernanke
Reuters
China’s interest rate cut helped boost US companies linked to China’s commodity-hungry industrial complex. US Steel Corp climbed 1.1 percent to $20.25 percent, and miner Freeport-McMoRan Copper & Gold Inc edged up 0.6 percent to $33.87.
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China must drop barriers to European investment, EU says
Chicago Tribune
“This will be like the coming of Japanese investment in Europe or US investment in the 1950s,” he said. Resource deals dominated China’s outbound investment of $21.4 billion in the first three months of 2012, with assets in South America the most
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China, Russia call for dialogue only on Syria
Chicago Tribune
China and Iran have close energy and trade ties, and Beijing has repeatedly resisted US-led demands to impose tougher economic sanctions on Iran to curb its nuclear ambitions. The joint statement also said that “the national reconciliation in
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US STOCKS SNAPSHOT – Futures surge after China cut
Reuters
NEW YORK, June 7 (Reuters) – US stock index futures sharply added to gains on Thursday after the Chinese central bank cut its benchmark bank lending and deposit rate, adding to hopes of coordinated action to aid the flagging global economy.
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Blind Chinese activist seeking book deal
Fox News
He escaped his guards on April 22, breaking his foot in the effort, and sought refuge in the US embassy in Beijing, just before Clinton arrived in China for high-level diplomatic discussions. Chen has said he was unaware at the time that Clinton was
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Disappearing Horizons: USChina Relations After Shangri-La
Heritage.org
In failing to send any senior officials to the Shangri-La conference, Beijing is reinforcing a message of growing antagonism toward the US and its allies, as reflected in a series of comments in the Chinese state-run media and from regular Chinese
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Bernanke offers few hints of Fed stimulus
Reuters
By Pedro da Costa and Mark Felsenthal | WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke said on Thursday the US central bank was ready to shield the economy if financial troubles mount, but offered few hints that further monetary stimulus
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China makes surprise interest rate cut
Reuters India
The Federal Reserve’s second-highest official made a case on Wednesday for more policy easing in the United States and financial leaders of the Group of Seven industrialized nations held an emergency conference call on Tuesday to discuss Europe’s debt
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MARKET COMMENT:Europe Stocks Up on China Rate Cut, Spain Auction
Wall Street Journal
By Sara Sjolin European stock markets ended higher on Thursday, as investors cheered an interest-rate cut from China and a favorably received auction of Spanish government debt. No hints of further easing from US Federal Reserve Chairman Ben Bernanke
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Stocks to climb on China rate cut
CNNMoney
By CNNMoney staff @CNNMoneyInvest June 7, 2012: 8:09 AM ET NEW YORK (CNNMoney) — A surprise rate cut by China’s central bank and a successful bond auction by Spain cheered investors around the globe Thursday and had US stocks poised to build on the
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METALS-Copper ends up as risk-on trade lifts wider market
Reuters
* Spanish bank rescue plan lifts copper * Potential China, US stimulus plans supportive * Euro ends higher in aftermath of ECB rate decision * Coming up: US weekly jobless claims; Bernanke testimony Thurs. By Chris Kelly and Susan Thomas NEW
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Wall Street pares early gains on Bernanke comments
Reuters India
By Chuck Mikolajczak | NEW YORK (Reuters) – US stocks rose on Thursday after China’s central bank cut lending and deposit rates, but indexes were well off their session highs as comments from Federal Reserve Chairman Ben Bernanke disappointed hope for
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US Stock Futures Tick Up Ahead of Jobless, Bernanke
Wall Street Journal
US stock index futures pointed to a higher start for Wall Street Thursday as investors awaited congressional testimony by Federal Reserve Chairman Ben Bernanke. Futures on the Dow Jones Industrial Average rose 13 points to 12432.
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Online petitioners seek probe into China dissident death
Reuters
But they (hospital staff) did not let us get near him … Then they dragged his body away,” Zhao Baozhu, Li’s brother-in-law, was quoted as saying by Human Rights in China. As of Thursday afternoon, 2700 people had signed an online petition,
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US Treasurys Swing into Gains after Jobless Claims
Wall Street Journal
By Cynthia Lin US Treasury prices reversed into positive territory Thursday after a report showed the number of workers filing for unemployment benefits falling by 12000 last week. This is somewhat of a counterintuitive move for the safe-haven market,
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China tells US to stop tweets on Beijing’s bad air
Examiner.com
On Tuesday China told its foreign embassies to stop publishing their own reports on air quality in the country. The order was to escalate its objections to a popular US Embassy Twitter feed that tracks pollution in smoggy Beijing.
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Why the US Won’t Give Up on Kofi Annan’s Syria Plan
TIME (blog)
Annan is reportedly proposing the creation of a “contact group” on the Syria crisis comprising the US, Britain, France, Russia, China, Turkey, Saudi Arabia, possibly Qatar — and Iran. The purpose of this group, according to The Washington Post’s David
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Copper rises on hopes of Spain rescue, US stimulus
Reuters
Copper has fallen 15 percent from this year’s peak of $8765 touched in February because economic worries from China to Europe and the United States have raised concern that demand for commodities such as copper would drop. Along with copper, oil and
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CANADA FX DEBT-C$ firms on China rate cut, but Fed weighs
Reuters
* C$ at C$1.0243 vs US$, or 97.63 US cents * China rate cut boosts growth currencies * Stimulus hopes hurt by Fed comments * Bond prices mostly lower By Jon Cook TORONTO, June 7 (Reuters) – Canada’s dollar advanced for a fourth straight session against
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