Last Update: 3:39 pm ET

Commodities

China National Gold Group 1st Half profit up, way up!

China’s largest gold producer said Tuesday its operating profits rose by three fold to 1.55B Yuan (US$228.09M) in the 1st 6 months this year.
China National Gold Group Corp. said in a statement that its 1st Half revenue grew by 98% from a year earlier to 27.67B Yuan and expected its full-year revenue to reach 50B [...]

China Growth Continues

Double Dip recession not likley in China in 2nd Half Y 2010
China’s economy is unlikely to see a “Double Dip” in the 2H of this year, and the economic growth for the remaining 6 months is expected to surpass 9%, according to a Bank of Communications report released Saturday.
China’s economic growth will slow [...]

Ebeling Heffernan Issue Stong Buy on Doray ASX:DRM

Doray ASX:DRM, Doray Minerals, the Murchison gold explorer that was valued at $11 million when it listed in February but is now valued at $45 million, on the strength of its gold exploration success at Andy Well.
Last week Doray revealed some high-grade hits in its latest drilling at Andy Well, and the market response was [...]

Heffernan Inc Adds Thailand Coal Reserve

Heffernan Inc have secured a mid size coal reserve in Thailand with the intent to Joint Venture the site and export coal to China.
The acquisition of further Coal reserves is high on the list of priorities for the mining division of Heffernan Inc.
China’s reliance on coal-fired thermal power stations can do nothing but increase for [...]

Shayne Heffernan Oil Trading Update

Oil fell in afternoon trading following U.S. Federal Reserve minutes showed concern about the economic outlook.
Crude dropped from earlier highs after the U.S. government reported that crude fell stocks at more than triple the rate analysts had projected.
U.S. crude settled down 11 cents at $77.04 after rising as high as $78.15. Crude hit a low [...]

The Fed Lowers Forecast

U.S. central bankers lowered their central tendency forecast for growth this year to a range of 3 percent to 3.5 percent versus 3.2 percent to 3.7 percent in April, the minutes showed.
Forecasts for the labor market were little changed, with the Fed expecting an unemployment rate of 9.2 to 9.5 percent, versus 9.1 to [...]

Chinese Yuan hit record high vs USD Monday

The central parity rate of the Yuan, China’s currency Renminbi (RMB), stood at 6.7718 per USD Monday, a record high, according to the data released by the China Foreign Exchange Trading System.
China’s central bank announced on June 19 that it would further the reform of the formation mechanism of the yuan exchange rate to [...]

Short Bets Rule Wall St

The uptick in short bets in the equity options market, coupled with an increasingly bearish from a technical perspective, suggest stocks will struggle to break from a vicious two-month downtrend this week. But once there is a turn short covering will see a rapid jump forward in the market according to Shayne Heffernan of Ebeling [...]

ASEAN Markets

ASEAN Markets started the first session of the third quarter weaker, along with other Asian stocks and commodities, after manufacturing data showed China’s rapid growth was slowing, increased fears of a global double dip.
US stocks pared earlier losses but could not climb out of the red on Thursday, as disappointing housing and jobs data weighed [...]

China lifts tariff on 60% of imports from 26 African nations

China’s Ministry of Commerce (MOC) announced Thursday that the country will cease levying tariffs on 60%of imports from 26 least developed African nations, including Ethiopia and Liberia.
This policy went into effect July 1, an MOC spokesman said Thursday.
The spokesman said the move was in line with China’s pledge, as part of the China-Africa cooperation forum [...]