| * IMF trims China growth outlook to 7.75% * Obama to press China's Xi on cyber hacking * Emerging stocks fall to one-month low as energy producers slide * Another blow to Korea's nuclear hopes * Thailand cuts rate first time this year as growth slows * Amway India snared by law against pyramid schemes * Really bad bank: Vietnam sets up its own AMC * Russia criticises U.S. over 'odious' Syria rights resolution * Alibaba set to snub US with HK listing * South African growth weakens to slowest since 2009 * Russian grocer Lenta plans IPO in London Markets: mixed IMF trims China growth outlook to 7.75%
The International Monetary Fund cut its growth forecast for China this year to 7.75 per cent from 8 per cent, citing a weak world economy and exports, adding to concerns that the world's second-largest economy is losing momentum.
http://on.ft.com/17qaHCf Obama to press China's Xi on cyber hacking
President Barack Obama will personally press his Chinese counterpart Xi Jinping about cyber hacking when they meet next week as new details emerged on Tuesday about the extent of military information China has managed to obtain.
http://on.ft.com/119qS1F Emerging stocks fall to one-month low as energy producers slide
Emerging-market stocks fell to a one-month low, led by energy producers, as speculation grew the U.S. Federal Reserve will scale back stimulus as the world's biggest economy strengthens.
http://bloom.bg/18y00KV Another blow to Korea's nuclear hopes
South Korea's shutdown of two more atomic power plants because of safety concerns could hardly be worse news for the country's nuclear energy industry, coming as Seoul struggles to increase nuclear exports to developing countries.
http://on.ft.com/19lmGPS Thailand cuts rate first time this year as growth slows
Thailand cut its benchmark interest rate for the first time this year as slowing economic growth bolstered government calls for easing. The baht fell.
http://bloom.bg/11n8cHs Amway India snared by law against pyramid schemes
William Pinckney, chief executive of Amway India, the country's biggest direct selling consumer goods business by sales, was released on bail on Tuesday evening after his arrest along with two fellow directors. Business leaders have been dismayed by the episode, saying it will damage investment and confidence.
http://on.ft.com/19kKMKE Really bad bank: Vietnam sets up its own AMC
The Vietnamese government is preparing to set up the Vietnam Asset Management Company following its approval by the prime minister on May 18 after several delays this year. VAMC will be a 100 per cent state owned company whose aim, according to the central bank, is to "solve the bad debts and promote reasonable credit growth in the economy."
http://on.ft.com/19jcPKx Russia criticises U.S. over 'odious' Syria rights resolution
Russian Foreign Minister Sergei Lavrov criticised a U.S.-backed draft resolution condemning the Syrian government before a debate at the U.N. Human Rights Council on Wednesday, saying it was "odious" and would undermine peace efforts.
http://reut.rs/18yfUFe Alibaba set to snub US with HK listing
Alibaba is prepared to shun US markets and pursue its highly anticipated listing solely in Hong Kong, dealing a blow to global exchanges keen to host what is likely to be the biggest initial public offering this year.
http://on.ft.com/1auXap7 South African growth weakens to slowest since 2009
South Africa's economy, in the first quarter of this year, grew at its slowest pace since a recession in 2009, significantly underperforming economists' forecasts and underscoring the challenges facing Africa's most developed nation.
http://on.ft.com/130H4m2 Russian grocer Lenta plans IPO in London
The owners of St Petersburg grocer Lenta have begun talks with bankers about a potential London listing for the Russian retailer, in a deal that would raise about £1bn.
http://on.ft.com/10FURv3 Emerging Markets
MSCI Emerging Market Index down -0.68% at 1,024 Europe
FTSE up -1.17% at 6,683
RTS down -2.30% at 1,367
Warsaw Wig down -0.29% at 47,444
FTSE 300 Eurotop down -1.04% at 1,233 Americas
DJIA up +0.69% at 15,409
S&P 500 up +0.63% at 1,660
Bovespa down -0.64% at 56,036 Asia
Nikkei 225 up +0.10% at 14,326
Topix up +0.91% at 1,179
Hang Seng down -1.61% at 22,555
Shanghai Composite up +0.12% at 2,324
MSCI Asia ex-Japan down -0.64% at 468.86
CNX Nifty down -0.11% at 6,104 Currencies
€/$ 1.29 (1.29)
$/¥ 101.74 (102.36) Commodities
Brent Crude (ICE) down -0.18 at 104.05
Light Crude (Nymex) down -0.47 at 94.54
100 Oz Gold (Comex) unchanged 0.00 at 1,379 | 
