Asia News
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Chinese equities in New York sank to the lowest level in four months, led by Semiconductor Manufacturing International Corp., on concern growth in the world’s second-largest economy will slow.
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Australian consumer confidence hovered near the weakest level this year and wage growth slowed, underpinning bets the central bank will cut interest rates next month to the lowest level in more than two years.
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Investors are reducing gold holdings for a third month, the longest stretch since 2004, and favoring the dollar as a haven from Europe’s debt crisis, even as Goldman Sachs Group Inc. predicts record prices for the metal.
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Blind Chinese activist Chen Guangcheng should receive a passport by May 21 that would allow him to leave for the U.S., according to Bob Fu, a Texas-based Christian aid worker who is in daily touch with him.
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