Day: August 25, 2015

Asia shares mostly turn positive, but Shanghai lags


102943760-GettyImages-483762132.530x298 Share markets in China opened down more than 6 percent early Tuesday, while the rest of Asia turned mixed as investors digested news of a rebound in the Dow Jones Industrial Average futures, whichopened up more than 100 points Monday evening in the U.S.

Futures for both the S&P 500 and the Nasdaq 100 advanced as well.

However, it was a grim picture overnight, with major U.S. stock indexes slumping almost 4 percent each. The S&P 500 lost 3.94 percent to end formally in correction territory, while the Dow Jones Industrial Average And Nasdaq Composite closed down 3.57 and 3.82 percent, respectively.

http://www.cnbc.com/2015/08/24/nikkei-hits-6-month-low-as-exporters-take-worst-hit.html

Meanwhile, the week-long slump in crude oil gathered pace on Monday, with prices tumbling more than 5 percent to fresh six-and-a-half-year lows. Benchmark copper on the London Metal Exchange also fell nearly 4 percent to $4,855 a tonne overnight, marking a six-year low, after a near 9 percent dive in Chinese equities on Monday elevated nervousness about economic activity and demand prospects in the world’s second-biggest economy.

China stocks in sharpest fall since 2007


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The Chinese stock markets had their worst day in eight years with the benchmark Shanghai Composite Index tumbling 8.49 percent to close at 3209.91 points.

This is the steepest dive since Feb. 27, 2007, and comes less than a month after a similar plunge on July 27 this year, when the stock market lost 8.48 percent.

The astonishing loss came one day after the government’s approval to allow the state pension fund to invest in the stock market, which analysts said should boost the market.

Nearly 2,200 shares tumbled by the daily limit of 10 percent. The overall loss was narrowed to around 6 percent in the afternoon as shares in blue chip companies, such as PetroChina and China Life Insurance, rose sharply. The index quickly fell back after 2 p.m.

Asia stocks across the board dived, too. The Hong Kong Hang Seng Index slumped more than 5 percent on Monday, its lowest point in 17 months. Japan’s Nikkei 225 Index closed down 4.61 percent, hitting a six-month low. Singapore’s Straits Times Index also tumbled almost 4 percent.

http://en.people.cn/business/n/2015/0824/c90778-8940887.html

Pension funds gain access to the stock market


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Up to 600 billion yuan ($97 billion) could be channeled into China’s struggling equity market after the Cabinet gave final approval on Sunday to allow pension funds access to the stock market.

These funds will be able to invest up to 30 percent of their net assets in the country’s stocks, equity funds and balanced funds, according to the finalized rules published by the State Council.

A draft rule was publicized for public consultation on June 30. The Ministry of Human Resources and Social Security said late last month that a majority of the public supported the proposals, including the 30 percent ceiling.

The rule was published on Sunday after shares slumped by nearly 12 percent last week, the worst weekly performance since June.

China’s pension funds, which account for about 90 percent of the country’s social security fund pool, had net assets of 3.5 trillion yuan by the end of last year, according to the ministry.

Spokesman for the ministry Li Zhong has said that more than 2 trillion yuan of the net assets can be used for investments, which means in theory that about 600 billion yuan could potentially be invested in the stock market.

The vast funds were previously only allowed to be deposited in banks or invested in Treasury bonds, which give very low yields.

Officials said the latest move is an important step to diversify the funds’ investment channels and enhance their yield to address the growing number of retired people.

http://europe.chinadaily.com.cn/business/2015-08/24/content_21684368.htm

Celine Dion Has Assured Husband Rene Angelil: ‘You’ll Die In My Arms’


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Celine Dion, 47, is preparing to return to the stage on Aug. 27 after taking a year hiatus to care for her sick husband Rene Angelil, 73, who is battling throat cancer. The “I’m Alive” singer opened up about their emotional conversations as his health continues to decline, revealing the heartbreaking promise she made to him.

When talking about Rene’s fear of dying, Celine admits that she tries to be strong, but that he sometimes “needs something more sensitive than that, more than just positivity,” Celine told USA Today. “I’ll say, ‘You’re scared? I understand. Talk to me about it.’ And René says to me, ‘I want to die in your arms.’ OK, fine, I’ll be there, you’ll die in my arms.” Celine has so much love for Rene. They met when she was just 12 years old, and he later became her manager, and then her husband in 1994. She refers to him as “the only boyfriend I’ve ever had” and “the leader of the band all my life.”

http://hollywoodlife.com/2015/08/24/celine-dion-husband-dying-rene-angelil-throat-cancer-final-wish/

Nikkei 225 closes down -4.61% at 18540.68


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EXCLUSIVE: HILLARY CLINTON SANCTIONED CHILD RAPE IN AFGHANISTAN


Now, 3 years after the policy change, a decorated Green Beret is being kicked out of the U.S. Army for a 2011 incident in which he shoved an Afghan police commander accused of raping a boy and beating his mother.

http://www.infowars.com/exclusive-hillary-clinton-sanctioned-child-rape-in-afghanistan/