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Jul 24, 2014

Australia growth warmed by exports, housing as mining cools: poll

SYDNEY (Reuters) – Australia’s economy is expected to grow at a solid pace over the next couple of years as strength in housing and exports offsets the prolonged drag from an ageing mining boom.

The latest Reuters poll of analysts expect Australia’s A$1.6 trillion (888 billion pound) of gross domestic product (GDP) to expand by 3.1 percent in 2014, topping last year’s pace of 2.9 percent which was already among the fastest in the developed world.

Jul 24, 2014

Asia stocks supported as China’s factories revive

SYDNEY, July 24 (Reuters) – Asian stocks edged higher on
Thursday as U.S. tech earnings impressed and a surprisingly
strong reading on Chinese manufacturing bolstered hopes for
recovery in the world’s second-biggest economy.

The HSBC flash PMI for China came in at 52.0 for July, well
above forecasts of a small rise to 51 in July and the highest
reading in 18 months. There was also good news on the outlook,
with a sub-index of new orders reaching 53.7.

Jul 24, 2014

Asia shares supported by upbeat China factory survey

SYDNEY, July 24 (Reuters) – Asian stock markets edged
broadly higher on Thursday and the Australian dollar jumped
after a surprisingly strong reading on Chinese manufacturing
bolstered hopes for recovery in the world’s second-biggest
economy.

The HSBC flash PMI came in at 52.0 for July, well above
forecasts of a small rise to 51 in July and the highest reading
in 18 months. There was also good news on the outlook, with a
sub-index of new orders reaching 53.7.

Jul 24, 2014

Asia shares edge higher, wary ahead of China factory survey

SYDNEY (Reuters) – Asian stocks inched higher on Thursday, encouraged by upbeat corporate results and a record close on Wall Street, while unrest in the Middle East and Ukraine underpinned demand for high-rated bonds.

There was an air of caution ahead of a manufacturing survey from China and a horde of other countries over the day. The HSBC flash PMI is expected to inch up to 51 in July, which would gel with other signs of stabilization in the economy.

Jul 21, 2014

Australia’s embrace of high-rise living has short-term cost

SYDNEY, July 21 (Reuters) – Australia is enjoying a
long-desired housing renaissance as a record amount of new
building gets under way, and a shift in fashion toward high-rise
living should lengthen its life span even if it tempers its
immediate benefits.

In the past, the focus was all on detached houses which gave
a concentrated burst to economic growth of 1 to 2 percentage
points over 12-18 months. Apartment towers take far longer to
get approved and built, spreading the gains over several years.

Jul 21, 2014

Asian stocks shade firmer, upbeat on US earnings

SYDNEY, July 21 (Reuters) – Asian stocks were a fraction
firmer on Monday as investors set aside geopolitical concerns
for the moment to focus on the generally upbeat flow of U.S.
corporate earnings ahead of a host of results due this week.

Volumes were light, however, with Japanese markets on
holiday. MSCI’s broadest index of Asia-Pacific shares outside
Japan added 0.24 percent, with small gains for
most markets across Asia.

Jul 21, 2014

Asian stocks edge higher, upbeat on US earnings

SYDNEY (Reuters) – Asian stock markets inched higher on Monday as investors set aside geopolitical concerns to focus on the generally upbeat flow of U.S. corporate earnings ahead of a host of results due this week.

Volumes were light, however, with Japanese markets on holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.13 percent, while South Korea .KS11 put on 0.4 percent.

Jul 16, 2014

Asian stocks steady as China GDP growth hits target

SYDNEY, July 16 (Reuters) – Asian stocks held stubbornly
steady on Wednesday after China reported economic growth that
was just ahead of market expectations, drawing a sigh of relief
from investors rather than outright applause.

China’s economy expanded by 2.0 percent in the second
quarter from the previous quarter, taking annual growth to 7.5
percent. Retail sales and industrial output were either in line
with forecasts or slightly higher.

Jul 16, 2014

Asia stocks manage muted cheer for China growth

SYDNEY, July 16 (Reuters) – Asian stocks held stubbornly
steady on Wednesday after China reported economic growth that
was just ahead of market expectations, enough to prompt a sigh
of relief from investors, but little else.

China’s economy expanded by 2.0 percent in the second
quarter from the previous quarter, taking annual growth to 7.5
percent. Retail sales and industrial output were either in line
with forecasts or slightly higher.

Jul 16, 2014

Asia stocks brace for China test, oil on the slide

SYDNEY (Reuters) – Asian stocks held steady on Wednesday as markets braced for a data deluge from China, while a slide in oil prices to the lowest in over three months was taken as a potential positive for global growth.

Chinese reports on gross domestic product, retail sales and industrial output are expected to confirm the economy stabilized in the second quarter after a shaky start to the year.