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Asian equities falter; Shanghai Comp, Nikkei near multi-year highs

Asian equity markets stumbled early Wednesday, following an unimpressive lead from Wall Street overnight.
Source: CNBC.com | By: See Kit Tang
China coal production falls in first 4 months of year

BEIJING- Coal production in China, the world's biggest coal-consuming nation, fell by 6 percent in the first four months of this year as the economy slows and the government makes a concerted push to reduce carbon emissions. China uses roughly half of all of the world's coal production for power generation, heating and industry. Earlier this month, the...
Source: The Associated Press
Snapchat CEO sees a bubble, blames rising rates

Snapchat's young CEO Evan Spiegel said that years of near-zero interest rates have led people to make "riskier investments" than they otherwise would.
Source: CNBC.com | By: Matt Hunter
METALS-London copper edges off 4-wk low as dollar strengthens

MELBOURNE, May 27- London copper climbed away from a four-week low on Wednesday as investors covered short positions, but gains were capped by a stronger dollar after improving U.S. economic data burnished the case for a rate rise soon. *Three-month copper on the London Metal Exchange had edged up 0.5 percent to $6,134 a tonne by 0108 GMT, after around 1- percent...
Source: Reuters
Gold holds near 2-week low after sliding nearly 2%

Gold held near a two-week trough early on Wednesday after sliding almost 2 percent in the previous session as strong U.S. data suggested the Federal Reserve may be on course to raise interest rates this year.
Source: Reuters
Macau casinos eye resorts to counter slowdown

As revenue plummets in China's only legal gambling hub, global casino operators have a new mantra: what happens in Vegas, must also happen in Macau.
Source: Reuters
Global asset managers might face tighter rules-RBA

SYDNEY, May 27- The global fund management business has grown so vast that it poses risks to financial stability and might need to be regulated more tightly, just as banks are, a top Australian central banker said on Wednesday. Reserve Bank of Australia Deputy Governor Philip Lowe said assets in managed funds had surged globally in recent years to around an...
Source: Reuters
PRECIOUS-Gold holds near 2-week low after worst day since April

SINGAPORE, May 27- Gold held near a two-week trough early on Wednesday after sliding almost 2 percent in the previous session as strong U.S. data suggested the Federal Reserve may be on course to raise interest rates this year. *Spot gold was little changed at $1,188.20 an ounce by 0040 GMT. It dropped to $1,185.35 on Tuesday, its weakest since May 12.
Source: Reuters
UPDATE 1-California oil spill takes toll on marine mammals, birds

LOS ANGELES, May 26- More than two dozen marine mammals and nearly 40 birds, most of them pelicans, have been collected dead and alive from along California's oil-fouled coastline near Santa Barbara in the week since a petroleum pipeline ruptured there, wildlife officials said on Tuesday. Michael Ziccardi, a veterinarian from the University of California, Davis,...
Source: Reuters | By: Steve Gorman
GLOBAL MARKETS-Europe woes and US rate hike prospects depress stocks, boost dollar

*Signs of Greek woes spreading to Spain dent risk appetite. TOKYO, May 27- Asian stocks sagged and the dollar stood tall on Wednesday on growing prospects the Federal Reserve was on track to raise interest rates later this year and concerns that financial woes could engulf Spain in addition to Greece. Taking a lead from Wall Street's slide, MSCI's broadest index of...
Source: Reuters | By: Shinichi Saoshiro