Gold up on weak dollar, TOCOM dips on NY

(Reuters) - Gold inched up on Tuesday to track a weaker U.S. dollar, while Tokyo futures fell, reflecting losses in New York's COMEX market and a firm yen.

Spot gold rose slightly to $681.70/682.30 an ounce at 0250 GMT, from $681.00/681.80 late in New York on Monday.


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Dollar hits 2-month low vs yen, languishes vs euro

(Reuters) - The dollar fell to a two-month low against the yen and hovered near a record low against the euro on Tuesday as worries about U.S. subprime mortgage woes hurting the credit market and the U.S. economy still weighed.

Traders said market sentiment remained bearish for the dollar, and players were awaiting U.S. economic data later in the week for clues on whether the problems in the housing sector were spreading to broader economic activity.


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Akzo, Comdirect, Fiat, Hypo Real Estate, Nestle: European Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 added 0.6 percent to 394.99. The Dow
Jones Stoxx 50 Index advanced 0.8 percent to 3939.24. The Euro
Stoxx 50 Index, a benchmark for the 13 nations using the euro,
climbed 0.8 percent to 4482.75.


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AIG Wins Approval to Establish Chinese Unit Focused on Property-Casualty

(Bloomberg) -- American International Group Inc.,
the world's largest insurer, won approval to start a new Chinese
subsidiary that should make it easier to add branches selling
property and liability insurance.

The China Insurance Regulatory Commission authorized the
creation of AIG General Insurance Company China Ltd., a wholly
owned subsidiary headquartered in Shanghai, the New York-based
insurer said in a statement today. The license is expected to
help AIG expand its property and liability operations beyond
Shanghai, Guangdong, and Shenzhen.


Read more at Bloomberg Emerging Markets News

Australian Dollar Trades at 18-Year High on Speculation of Rate Increase

(Bloomberg) -- The Australian dollar rose to an 18-
year high against the U.S. currency as some traders raised bets
the central bank will increase interest rates next month to slow
inflation. The currency dropped versus New Zealand's dollar.

Australia's dollar is the third-best performer this month
among the 16 most-active currencies as an index calculated by
Credit Suisse Group suggested speculators are increasing the odds
of higher borrowing costs. A report yesterday showed producer
prices gained more than expected in the second quarter and
figures tomorrow may show inflation accelerated.


Read more at Bloomberg Currencies News

South Korea Stocks Fall, Reversing Earlier Gains; Exporters Drop on Won

(Bloomberg) -- South Korean stocks dropped, erasing
earlier gains. Samsung Electronics Co. declined after the won
rose to the highest since December against the dollar, eroding
the local-currency value of exporters' overseas earnings.

Samsung Heavy Industries Co. advanced after it said second-
quarter profit jumped to a record.


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South Korea's Kospi Tops 2,000 for First Time After 39 Percent 2007 Rally

(Bloomberg) -- South Korea's benchmark Kospi index
exceeded 2,000 for the first time. It has risen 39 percent so far
this year, the second-best performance among Asia's main stock
indexes after China's CSI 300 Index.

The Kospi index climbed 9.99, or 0.5 percent, to 2,003.04 as
of 9:03 a.m. in Seoul. The Kosdaq added 0.7 percent to 824.46.
Kospi 200 futures expiring in September gained 0.3 percent to
254.25, while the underlying index rose 0.4 percent to 253.27.


Read more at Bloomberg Stocks News