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SHANGHAI — Chinese manufacturing growth improved and auto sales rebounded in August, suggesting the world's second-biggest economy may not be slowing as quickly as feared.
China's Shanghai index dropped 0.6 percent, however, as many mainland investors doubted the uptick means the slowdown in China's rapid growth has been halted.
Elsewhere in Asia, Australia's S&P/ASX 200 index jumped 2.1 percent, Japan's Nikkei 225 stock average rose 1.2 percent, Hong Kong's Hang Seng index rose 0.4 percent and South Korea's Kospi advanced 1.3 percent.
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CANBERRA, Australia — Australia's economy grew at its fastest pace in three years in the second quarter as demand from China and elsewhere in Asia boosted exports of iron ore and other commodities.
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DUBLIN — Ireland's unemployment lines and deficit keep growing, and so does its bill for Europe's most ambitious bank-bailout program. The unrelenting tide of red ink has analysts and Dubliners alike wondering how on earth Ireland will keep paying its bills, particularly to keep feeding one of the world's biggest banking black hole at Anglo Irish.
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LONDON — Indicators are pointing up at the European Central Bank, which may be about to raise its 2010 economic projections. But that brightening picture is being increasingly darkened by fears about the recovery in the U.S.
On Wednesday, shares rose after upbeat reports on manufacturing in China and the U.S. The FTSE 100 index of leading British shares closed up 2.7 percent, Germany's DAX spiked 2.7 percent and the CAC-40 in France gained 3.8 percent.
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BEIJING — China has imposed anti-subsidy duties for five years on imports of U.S. chicken products after concluding producers received improper support, the Commerce Ministry said amid a string of trade spats with Washington.
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ROME — International food prices have risen to their highest level in two years, fueled in part by a drought in Russia that lifted the cost of wheat, a U.N. agency said.
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BERLIN — Germany's Cabinet has formally approved a plan to save some euro80 billion ($101 billion) over the next four years, moving the package of benefit cuts and new levies closer to realization.
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BERLIN — Orders for German machinery were up 48 percent on the year in July, led by strong foreign demand, an industry group said in the latest healthy indicator from Europe's biggest economy.
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MADRID — Spain says its public deficit is down sharply through the end of July thanks to a combination of tax hikes and other austerity measures.
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SINGAPORE — Singapore's economy will likely expand at a record pace this year as a surge in demand for the city-state's exports fuels manufacturing, according to a central bank survey of analysts.
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KUALA LUMPUR, Malaysia — Malaysia's central bank has approved four licenses for Islamic life insurance to mostly foreign-led operators as part of an ongoing liberalization to make Malaysia a regional Islamic finance hub.
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ISLAMABAD — Pakistan's economic growth will plunge two percentage points because of the floods and lead to "massive" job losses, the prime minister warned in a speech that predicts a grim couple of years for the already fragile country.
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BELGRADE, Serbia — The International Monetary Fund says it has approved a euro2.9 billion ($3.68 billion) standby loan for Serbia, allowing for an earlier end on a freeze of public wages and pensions amid a surge in prices.
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KABUL, Afghanistan — Afghanistan's central bank tried to shore up confidence in the country's biggest financial institution after its top executives resigned amid allegations of mismanagement and corruption.
