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COMMODITIES-Base metals, gold extend losses in Asia

COMMODITIES-Base metals, gold extend losses in Asia Global base metal and gold markets extended their losses on Thursday as big investment funds continued to shy away from the once roaring bull markets as concern mounts about rising interest rates and metal supplies. Analysts said interest rates hikes in the United States and other countries could choke growth and any drop off in metal demand would cap chances of an early recovery in prices. "We have possibly seen the all-time high and it might take some time to get back to the same levels again," said David Thurtell, an analyst with the

Asia keeps gold above $550

Asia keeps gold above $550 Fund-buying coupled with physical buying in Asia has helped the spot price of gold rally and remain above $550 a troy ounce on Monday, traders said. At 3.05pm, gold was $3/oz firmer at $555.35 a troy ounce after hitting an intra-day best level of $556.63/oz earlier. If prices hold above the $550/oz level, gold could breach the next resistance level of $560/oz in the short term, London-based Barclays analyst Yingxi Yu wrote. With market conditions remaining nervous after the price volatility over the past few weeks and also a lack of main factors to drive the

Trading network Liquidnet to make splash in Asia

Trading network Liquidnet to make splash in Asia By Brian Kelleher, Asia financial services correspondent HONG KONG (Reuters) - Electronic marketplace Liquidnet will begin matching institutional buyers and sellers of Asian stocks from April 2007 in a move that could shake up the regions traditional exchange industry. Asia-focused mutual funds and hedge funds are becoming increasingly reliant on electronic trading, which puts a premium on processing trades as quickly as possible, said David Klinger, the new managing director of privately-held Liquidnet Asia. More : today.reuters.com

FX Asia: Taiwan Dollar Sets Sight On New 2006 Low

FX Asia: Taiwan Dollar Sets Sight On New 2006 Low The New Taiwan dollar is increasingly favored in carry trades as low interest rates and heightening political tensions with the Chinese mainland make the currency a cheap funding vehicle for purchases of higher-yielding units such as the Thai baht. Although the Taiwan dollar is recovering from falls earlier in the week thanks to a resurgent Japanese yen, its longer-term outlook remains grim. Technical charts, in particular, are pointing to fresh lows ahead for the currency, already facing pressure ahead of Taiwan's Peace Memorial Day on Feb. 28 when some are expecting

Ivanhoe to swap coal unit for stake in Asia Gold

Ivanhoe to swap coal unit for stake in Asia Gold Ivanhoe Mines Ltd. (IVN.TO: Quote, Profile, Research) will exchange its coal division in Mongolia with Asia Gold Corp. (ASG.V: Quote, Profile, Research) for a majority stake in the small explorer, Ivanhoe said on Wednesday. Ivanhoe, currently with about a 47 percent stake in Asia Gold, will acquire 82.58 million common shares, which will boost its holding to 88.8 percent on a fully diluted basis. As part of the transaction, Ivanhoe has agreed to extend an interim working line of credit to Asia Gold of up to $10 million. The deal is subject to