He was speaking with Eurogroup President and Luxembourg Prime Minister Jean-Claude Juncker, European Central Bank President Jean-Claude Trichet and European Union Economic and Monetary Affairs Commissioner Joaquin Almunia ahead of the 12th China-EU summit beginning in Nanjing today. Wen said China would, acting on its own initiative and in a controllable and gradual manner, keep the yuan stable at reasonable, balanced levels.
Sales of new homes rose in September after falling for four straight months. Lower home prices enticed buyers. The yield on the 10-year Treasury note rose to 2,
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The contract price spread is creating an enormous incentive to build inventory, said oil trader and analyst Stephen Schork. "Little wonder then why overall crude oil supplies have since jumped to a 35-week high," Schork wrote in his daily publication, The Schork Report. The Organization of Petroleum Exporting Countries, in an attempt to boost prices, has announced production cuts of 4.2 million barrels per day since September with the latest cuts going into effect at the beginning of the year.
SHANGHAI stocks edged up yesterday, sending the key index to its first monthly gain this year, after media reported that China s foreign exchange regulator has bought shares.The Shanghai Composite Index added 0.11 percent to 3,003.93 points. The index gained 11.8 percent last month, paring its loss to 15 percent this year.The State Administration of Foreign Exchange has purchased A shares worth more than 27 billion yuan (US$4.2 billion) since the fourth quarter of last year, the Shanghai Securities News reported yesterday.SAFE bought the shares via its wholly controlled subsidiary Buttonwood Investment Platform Ltd and Buttonwood s two fully owned subsidiaries, the newspaper said.Buttonwood is now a major shareholder of a number of banks including Industrial and Commercial Bank of China, Bank of China and Bank of Communications, according Cheap Jordans Retro to latest earning reports.The index s rise was also buoyed by a 17th straight day of net inflows when overseas investors bought a net 2.5 billion mainland shares via the Shanghai-Hong Kong Stock Connect, according to Hong Kong Exchanges Clearing Ltd.Both Dalian Port Co and Ningbo Port Co surged by the daily limit Authentic Retro Jordans of 10 percent.
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