Zoomlion Offers US$3.2b For US Heavy Machinery Maker
China’s Zoomlion Heavy Industry Science & Technology Co confirmed on Wednesday an unsolicited takeover bid for Terex Corp, the US crane and construction machinery maker.
China
AUDUSD Daily Range Support Jan 13, 2016
AUDUSD is currently bouncing off the bottom of its long-term range visible on the daily time frame, partly supported by the pickup in risk sentiment and stronger than expected data in China.
Copper Prices Remain Beaten Down
The start of the new year has seen no let up in the torrid time for commodities and commodity currencies, but for copper the continued uncertainty in China (FXI, quote) coupled with US dollar (UUP, quote) strength and lack of global economic growth continues to weigh particularly heavily, with the base metal breaking through the psychological $2.00 per lb price point, and currently trading at $1.965 per lb at time
Growth To Hit 6.7% Due To Woes In Manufacturing, Export
China’s (FXI, quote) economic growth is predicted to further decelerate this year to 6.7 percent, the slowest since 1991, trapped by manufacturing overcapacity and sluggish export, said a think tank report on Tuesday.
Chinese Firecracker Starts New Year With A Bang
If traders drifting back to their desks for the start of the new trading year were expecting a quiet start, Chinese economic news delivered a shock to global markets with the Caixin Manufacturing index coming in below expectation at 48.2 against a forecast of 48.9, with the Nikkei 225 falling almost 600 points to close at 18,450.98 on the release.
Yuan Falls As Rate Set At Lowest Since 2011
The yuan Thursday weakened for the 10th day against the US dollar as China’s central bank set the official reference rate at the lowest since 2011 following the US interest rate hike.
S. Korea Ratifies Free Trade Agreement With China
South Korea’s parliament on Monday ratified its free trade agreement (FTA) with China during the plenary session.
China, Russia Plan Bullet Train Joint Venture
China and Russia are setting up a joint venture in Russia for making electromagnetic unit vehicles for the Moscow-Kazan high-speed rail project, railway equipment maker CRRC Corp Ltd said on Thursday.
China Rolls Out Consumption-Boosting Measures
China will increase imports, make it easier for overseas shoppers to get tax refunds and allow foreigners to visit more of the country for 72 hours without visas, the central government said on Monday.
Universal theme park to open in China by 2020
Universal Parks & Resorts, a division of NBC Universal which owns Universal Studios Hollywood, expects to open North China’s first international theme park in Beijing by 2020.