Hong Kong shares fall on mainland market slump; CITIC Sec tumbles Nov 27- Hong Kong stocks slid on Friday, with the headline Hang Seng index posting its worst weekly performance in two months as a tumble in mainland stocks triggered anxiety across the region. The Hong Kong- listed shares of CITIC Securities tumbled 4.9 percent, after the Chinese brokerage said it was under investigation by China's stock regulators.
European shares fall from 3-month high, hit by Chinese weakness LONDON, Nov 27- A top European share index fell from a three-month high on Friday, hit by a drop in the mining sector after a slump in Chinese equities which was triggered by weak data and a regulatory crackdown. The FTSEurofirst 300 was down 0.7 percent at 1,505.51 points by 0806 GMT, dropping after posting its highest close since August on Thursday.
WRAPUP 1-China stocks tumble most since summer slump as regulator widens brokerage probe *Regulator probing Haitong Securities- sources tell Reuters. The sharp drop in afternoon trade highlights the volatility of China's markets ahead of an expected decision by the International Monetary Fund on Monday on whether to include the yuan currency in its inclusion in its global reserve basket. China Haitong Securities is under investigation by the...
| By: David Lin and Kazunori Takada
UPDATE 3-Japan spending slumps even as unemployment hits 20-year low TOKYO, Nov 27- Japanese household spending unexpectedly fell in October for a second straight month, even as unemployment hit a two-decade low, underscoring the challenge facing premier Shinzo Abe in persuading reluctant companies to boost wages. The data underlines the difficulty Abe faces as he campaigns for companies to spend more of their record profits...
| By: Leika Kihara
METALS-Nickel retreats after rally as Chinese producers meet *Shanghai aluminium outperforms, up 3.6 pct. Most base metals took a breather after a rapid recovery from an early-week rout that dragged prices to multi-year lows, but Shanghai aluminium outperformed, rising nearly 4 percent. The most-traded January nickel on the Shanghai Futures Exchange, which gained around 9 percent in the past two sessions, closed 0.9-...
| By: Manolo Serapio Jr
China shares slide as brokers investigated Most other Asian markets were lower in muted trading after Wall Street was closed for the Thanksgiving holiday, and investors continued to watch for developments in tense relations between Russia and Turkey. Other regional markets were also lower, falling in Taiwan, Australia, the Philippines, Indonesia and Singapore. RUSSIA AND TURKEY: Markets have been wary...
Source: The Associated Press
| By: By YURI KAGEYAMA, AP Business Writer
CORRECTED-Russia's MMK says could increase dividends from 20 pct of profit in 2016 MAGNITOGORSK, Russia, Nov 27- Russian steel producer MMK could increase its dividend payments from 20 percent of net profit in 2016, but not up to 50 percent, Deputy Chief Executive Sergei Sulimov said on Friday. "We consider a payment of 50 percent of net profit a lot for the capital-intensive metals industry," Sulimov said. The decision will be made in April or May...
UPDATE 2-India's Modi to meet Sonia Gandhi to discuss new indirect tax *Modi to host Congress leaders Friday evening. *Congress demands rate of below 20 percent. NEW DELHI, Nov 27- Indian Prime Minister Narendra Modi invited opposition Congress party leader Sonia Gandhi for talks on Friday to break a deadlock over the introduction of a new indirect tax in a bid to put his economic recovery agenda back on track.
| By: Rupam Jain Nair
Japan plans extra budget, handouts, to pump up recovery TOKYO— Prime Minister Shinzo Abe has ordered Cabinet ministers to prepare an extra spending package, including cash handouts for the poorest pensioners, seeking to breathe fresh life into Japan's stalling recovery. Suga said it also will include provisions to help farmers improve their competitiveness as the Japan opens its markets further as part of a...
Source: The Associated Press
| By: By ELAINE KURTENBACH, AP Business Writer