Euro falls

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AP

The euro fell at the Asian trading hours to $1.3465 from $1.3513. The decrease occurred after a fall of stocks in the US and Asia caused by cut in US growth forecast and decrease in China's manufacturing output. Other currencies also declined against USD, British Pound fell to $1.5613 from $1.5637 and Australian Dollar decreased by 0.9%, FactSet reported.

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Wed, 23 Nov 2011 08:41:01 GMT

Chinese stocks drop for sixth consecutive day

China's stocks are experiencing a decline for a sixth day in a row as government data indicated that national manufacturing is shrinking amid trouble in global economy. Anhui Conch Cement Co and Sany Heavy Industry Co each gave up at least 0.9% as purchasing managers' index sank. China Shipping Development Co dropped 1.3% on less than expected US growth. Shanghai Composite has lost 15%

Wed, 23 Nov 2011 08:36:22 GMT

China's rural credit institutions may seek foreign financing

China is reforming its rural credit cooperatives that face competition from the increasing number of the independent rural credit institutions. The government is going to stimulate the development of credit rural cooperatives by transforming them into local commercial banks and inspiring overseas partners to invest in them, said Yin Youxiang, head of the rural financial service division of the  CBRC.

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