Dreyfus Greater China Fund Shuns Largest Companies, to Post Top Returns

(Bloomberg) -- Hugh Simon and Nina Wu are producing
the best returns from Asia for mutual-fund investors by buying
the smallest stocks in Hong Kong and shunning mainland China,
the region's most expensive market.

The $1 billion Dreyfus Premier Greater China Fund's
holdings are less than a 10th the size of those on Hong Kong's
Hang Seng Index. They trade at 16 times estimated earnings,
compared with the average multiple of 42 for stocks on the CSI
300 Index, China's benchmark.


Read more at Bloomberg Stocks News

Oil hovers near 10-month high ahead of stock data

(Reuters) - Oil held steady around $73 a barrel after briefly marking a new 10-month high on Thursday, as dealers waited for weekly U.S. oil inventory data expected to show little change in crude or fuel stocks.

London Brent crude currently seen as more representative of global oil prices, eased 6 cents to $72.99 a barrel at 0604 GMT, after having traded as high as $73.32, the highest front-month price since late August.


Read more at Reuters Africa

Gold Little Changed in Asia Amid Dollar Slump, Oil Gains; Silver Declines

(Bloomberg) -- Gold was little changed in Asia amid
demand from investors for an alternative to the weakening dollar
and for a hedge against inflation as oil prices trade near a 10-
month high. Silver declined.

Gold has gained almost 2 percent in the past week as the
dollar-priced metal has become cheaper to investors holding
other currencies. The dollar traded near a record low against
the euro today and near the lowest in 26 years versus the
British pound on prospects for higher European interest rates.


Read more at Bloomberg Commodities News

ECB Likely to Keep Rate Unchanged, Consider a Ninth Increase in September

(Bloomberg) -- The European Central Bank will
probably keep interest rates unchanged, preferring to wait for
confirmation that economic growth is fanning inflation before
raising borrowing costs again, a survey of economists shows.

Policy makers meeting in Frankfurt today will keep the
benchmark refinancing rate at 4 percent, according to all 42
economists in a Bloomberg News survey. The bank will raise the
rate to 4.25 percent in September, a separate survey shows.


Read more at Bloomberg Bonds News

Asia shares stage rally; resources bring cheer

(Reuters) - With Wall Street closed for the U.S. Independence Day holiday, investors took their cue from European stock markets which surged on Wednesday.




The MSCI world equity index -- a gauge of broader stock market performance -- hit a lifetime peak, fuelled by flourishing mergers and acquisitions activity, and extended gains on Thursday.


Read more at Reuters.com Hot Stocks News

South Korean Bonds Fall as Interest Rates Will Rise; Won Little Changed

(Bloomberg) -- South Korea's government bonds dropped
on speculation the central bank will raise interest rates next
week to prevent surplus cash in the banking system from spurring
inflation. The won was little changed.

Five-year bonds fell for a fifth day as Finance Minister
Kwon Okyu said monetary policy should be aimed at ``controlling
liquidity'' because consumer prices may rise. Exports increased
to a record in June while the nation's current account balance
was in surplus for the first time in three months in May.


Read more at Bloomberg Currencies News

U.S. Notes Decline After Demand for Safety Wanes on Easing Terror Concerns

(Bloomberg) -- Ten-year Treasuries fell on
speculation investor appetite for riskier securities will
increase after the U.K. reduced its terror alert and the U.S.
July 4 holiday passed without incident.

Notes dropped after stocks gained in Europe and Asia
yesterday, which helped reduce demand for the relative safety of
government debt. New York City stepped up counter-terrorism in
advance of July 4 after authorities in the U.K. arrested seven
on terrorism charges relating to incidents in London and Glasgow.


Read more at Bloomberg Bonds News