SHANGHAI (Reuters) - China's main stock index ended 2.44 percent lower on Thursday as worries about global recession moved to the fore, spurring profit-taking by nervous investors in financial and coal shares that had rallied the previous day.

www.rgemonitor.com... alling

For the last few months the first engine of global growth has effectively shut down as the latest batch of macro news from the U.S. are worse than awful: collapsing consumption and consumer confidence, plunging housing, collapsing auto sales, plunging durable goods spending (while supply side indicators such as production, ISM and employment are also free falling). The U.S. is entering its worst consumer recession in decades both supply and demand data look worse than in the severe recessions of 1974-75 and 1980-82. And in due time this tsunami of awful macro news, together with ugly downside surprises to earnings will take another toll on equity valuations that are now temporarily lifted by another bear market sucker’s rally.

In a week when China and Taiwan are marking a historic diplomatic thaw, a B.C. group of Taiwanese-Canadians has come forward to protest the enhanced relationship

HONG KONG: Under the new Obama administration, there could be some friction between the US and China over financial issues and trade policy, according to some analysts who spoke to Channel NewsAsia.

In the short-term, analysts say China is likely to allow its currency, the yuan, to appreciate slightly against the US dollar as a gesture of goodwill towards the new US administration.