CHINA

U.S. stock index futures pointed to a rise of more than 1 pct at the open on Tuesday on signs of strength in Europe's banking system and ahead of a $22 billion initial stock offering by the Agricultural Bank of China, set to be the biggest-ever IPO.

British oil company BP has approached sovereign wealth funds with a view to securing a strategic investor to fend off takeover bids while it deals with its massive U.S. oil spill, a senior UAE source said on Tuesday.

Gold rose back above $1,210 an ounce in Europe on Tuesday as physical demand for the precious metal recovered after last week's price dip, and as the weaker dollar encouraged some buying. Spot gold was bid at $1,210.15 an ounce at 7:37 a.m. EDT (1137 GMT), against $1,206.95 late in New York on Monday. U.S. gold futures for August delivery firmed $2.30 an ounce to $1,210.00.

BP ruled out a share issue and talk persisted of sovereign wealth fund interest in the British oil major, boosting its shares on Tuesday even as its Gulf of Mexico oil slick spread to the Texas coast.

Agricultural Bank of China, the country's No.3 bank by assets, has closed the books on its dual Hong Kong and Shanghai share sale and could break all IPO records by raising more than $22 billion.

Agricultural Bank of China, the country's No.3 bank by assets, has closed the books on its dual Hong Kong and Shanghai share sale and is on track to raise around $20 billion in what could be the world's largest ever IPO.

India's investors are slowly waking up to the reality that gold is a good investment option. In fact, asset management companies' are increasingly trying to woo investors. An allocation to gold is a standard fixture in many of the recent new fund offerings and even a bullion fund which was launched recently.

Gold rose back above $1,210 an ounce in Europe on Tuesday as physical demand for the precious metal recovered after last week's price dip, and as the weaker dollar encouraged some buying. Spot gold was bid at $1,210.85 an ounce at 0952 GMT (5:52 a.m. EDT), against $1,206.95 late in New York on Monday. U.S. gold futures for August delivery firmed $3.90 an ounce to $1,211.60.

Gold rose slightly on Tuesday after a recent drop in prices spurred buying from jewelers in Asia, but a firmer U.S. dollar and volatile stock markets could prompt speculators to sell bullion to cover losses. Gold's failure to revisit a recent record could also spur some selling, though dealers expected jewelers to snap up the metal at lower levels. Platinum fell to its weakest since late May on lower equities, while palladium saw bargain buying after recent declines.

The euro and Australian dollar rebounded from early losses against the dollar and yen on Tuesday after a statement by Australia's central bank helped dispel some gloom about the economic outlook and led to short-covering.

The managers of China's hoard of currency reserves defended their investment record on Tuesday, saying they had avoided big losses during the global crisis and voicing confidence they could achieve stable long-term returns.

The dollar and the yen gained in thin trade as investors reduced risk positions on Tuesday, while the Australian dollar fell ahead of a central bank decision where it is widely expected to be keep interest rates steady.

China has boosted its purchases of Japanese government bonds this year, snapping up a net 541 billion yen ($6 billion) of mostly short-term JGBs in January-April, double the record amount logged for all of 2005, the Nikkei business daily reported.

Gold prices eased further in Asian trade Tuesday as the dollar strengthened against the euro amid weak equity markets. Gold for immediate delivery was seen trading at $ 1205.89 an ounce at 12.00 noon Singapore time while U S gold futures for August delivery was at 1206.02 an ounce.

Asian stocks reversed course and inched up on Tuesday taking heart from gains in the Chinese market led by property and bank stocks, while the Australian dollar dribbled higher after the central bank sounded cautiously optimistic on the economic outlook.

Agricultural Bank of China, the country's No.3 bank by assets, is set to price its dual Hong Kong and Shanghai IPO late on Tuesday, determining whether it will become world's largest ever share offer.

China's property market is beginning a collapse that will hit the banking system, Harvard University economics Kenneth Rogoff told Bloomberg Television.

Asian stocks slipped on Tuesday on growing investor concerns of slower economic growth in the United States and China, the main pillars of the world economy, and fading risk appetite sent the yen up against the dollar and the euro.

World stock and oil prices fell on Monday on growing concerns of slowdowns in the United States and China -- the two main pillars of global growth, though the dollar was off its two-month low.

World stock and oil prices fell on Monday on growing concerns of slowdowns in the United States and China -- the two main pillars of global growth, though the dollar was off its two-month low.

Internecine civil wars are underway almost everywhere within the West, and most virulently in the United States of America. They are not yet kinetic wars, but wars of grinding prepositioning, the kind which lead to foregone conclusions without a shot being fired. They are wars of survival, nonetheless, because the basic architecture for national strength is being altered incrementally or dramatically. And, in many cases, consciously.