CHINA

Most stocks in Asia edged lower on Wednesday, weighed down by resource-related shares and doubts about a global economic recovery, while oil slipped below $70 a barrel ahead of U.S. inventory data that could reflect slowing energy demand.

Most stocks in Asia edged lower on Wednesday, weighed down by resource-related shares and doubts about a global economic recovery, while oil slipped below $70 a barrel ahead of U.S. inventory data that could reflect slowing energy demand.

Chinese mainland's purchase of US Treasury bonds fell for the first time in 11 months to $763.5 billion in April, latest US government data showed on Monday.

U.S. President Barack Obama and South Korean President Lee Myung-bak presented a united front to North Korea on Tuesday, saying Pyongyang must abandon its nuclear weapons program and will not be rewarded for provoking a crisis.

The leaders of the world's biggest emerging powers, Brazil, Russia, India and China meet this week for their first formal summit, seeking ways to reshape the global financial system after the worst economic crisis in decades.

Kim Jong Un, the youngest son of North Korean leader Kim Jong-il, secretly visited China last week and met with President Hu Jintao, Japan's Asahi newspaper reported on Tuesday.

Leaders of the emerging countries joined hands calling for a new world order amid the global financial crisis and boosting security and trade at two summits on Tuesday.

Leaders of emerging world powers discussed reducing their reliance on the United States, as well as boosting security and trade at two summits on Tuesday hosted by Russia but excluding the West.

The leaders of the world's biggest emerging markets demanded a greater say in the global financial system on Tuesday at their first summit, but steered clear of any assault on the U.S. dollar's dominance.

The draft communique of Brazil, Russia, India and China does not mention the role of U.S. dollar or a supranational reserve currency, sources with knowledge of the document told Reuters on Tuesday.

Smithfield Foods Inc posted a smaller-than-expected quarterly loss on Tuesday on better-than-anticipated margins in its hog and pork businesses, but high feed costs weighed on results.

The raging debate about the future of the U.S. dollar's reserve currency status may be masking the real drivers of its near-term direction.

Asian venture capital company Pacific Venture Partners on Tuesday said it sees fabless semiconductor companies and the clean energy sector as good investments, although high spending in some solar energy firms might be a deterrent.

Russia will advocate a cautious approach to changing the system of global reserve currencies when the world's biggest emerging economies hold their first formal summit on Tuesday, the Kremlin's top economic aide said.

A Chinese waitress who killed a government official when he assaulted her was set free on Tuesday, ending a case that sparked online debate over widespread abuse of power.

China's economy will not experience a rapid recovery because it will take time to find a new growth engine to replace sagging exports, an influential economist said in remarks published on Monday.

The head of the IMF warned on Monday it was too soon to discuss rolling back stimulus spending, saying the world economy had yet to weather the worst of a recession that has hammered industrial output and claimed a record number of European jobs.

Hisense Group, one of China's top TV and appliance makers, is issuing 150 million shares, aiming to raise about RMB 1.5 billion($219 million).

The youngest son of North Korean leader Kim Jong-il secretly visited ally China around last week as a special envoy of his father and met with Chinese President Hu Jintao, Japan's Asahi newspaper reported on Tuesday.

The world's biggest emerging market powers will seek to craft a united front on repairing the global financial system when they meet for the first formal BRIC summit on Tuesday.

The head of the IMF warned on Monday it was too soon to discuss rolling back stimulus spending, saying the world economy had yet to weather the worst of a recession that has hammered industrial output and claimed a record number of European jobs.