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Asian shares down for fifth straight day
Hong Kong’s Hang Seng index closed below 20,000 for the first time since March 2007 as fears deepened about the global economy, the prospects for the US and effects on China
Merchant Securities moves for Shanghai listing
Merchants Securities is seeking regulatory approval for an initial public offering in Shanghai that could raise as much as Rmb5bn ($730m), becoming the second mainland Chinese brokerage this year to announce plans for an A-share listing
Xstrata buys stake in Indophil Resources
Mining group Xstrata bought a large stake in Indophil Resources as it seeks to gain control of one of the world’s largest unexploited copper mines
Vale seeks 20% iron ore price rise from China
Vale of Brazil, the world’s largest iron ore producer, is putting pressure on Chinese steelmakers to pay up to 20 per cent more for their contracted ore
Samsung considers buying SanDisk
Samsung Electronics said it was considering buying, or forming a strategic alliance with, SanDisk to strengthen its dominance of the digital memory storage market
Marubeni consortium wins Senoko auction
A consortium led by Japanese trading house Marubeni Corp won an auction to buy Singapore’s Temasek-owned Senoko Power in a deal valued at $2.8bn
Sony recalls 438,000 Vaio laptops
Shares in Sony were knocked after the Japanese consumer electronics group was forced to recall thousands of defective laptops because of a risk that they could overheat and cause burns
Telefónica boosts stake in China Netcom
Spanish telecoms group to invest up to €802m in China Netcom, a move that would see it retain a significant holding in the company after its merger with China Unicom
S Korea in global bond sale
South Korea will launch a global roadshow next week for the sale of sovereign bonds worth $1bn in a test of investor confidence in Asia’s fourth-largest economy
CME joins Osaka in 24-hour trading deal
The CME Group, the world’s biggest futures exchange, sought to extend its foothold in Asia by entering talks with the Osaka Securities Exchange, Japan’s largest derivatives exchange, to develop new services
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