| * Rio Tinto sells Northparkes mine stake for $820m * China plans government debt audit * Asian stocks slip before kuroda as metals fall; gas sinks * Chinese companies poised to boost offshore borrowing levels * Oppenheimer to test Brazilian bankruptcy law * China to freeze trade probes in solar deal Markets: mostly down Rio Tinto sells Northparkes mine stake for $820m Rio Tinto has sold its controlling stake in the Northparkes copper-gold mine in New South Wales to China Molybdenum for $820m as part of efforts to reduce debt. http://on.ft.com/1cfzSr3 China plans government debt audit China will conduct an urgent audit of all government debt, underlining concerns over rising financial risks in the world's second-biggest economy. The National Audit Office said in a one-line statement on Sunday that it had been instructed by the state council, China's cabinet, to come up with a tally of how much money is owed by all levels of government from villages up to central authorities. http://on.ft.com/13n5e89 Asian stocks slip before kuroda as metals fall; gas sinks Asian stocks fell, with the regional benchmark retreating a fourth day, before a speech by Bank of Japan Governor Haruhiko Kuroda and monetary policy reviews from the U.S. to Europe this week. The yen held gains versus the dollar, while most metals and natural gas declined. http://bloom.bg/1c434m9 Chinese companies poised to boost offshore borrowing levels Chinese companies are expected to accelerate offshore borrowing as tightening credit conditions at home and lower costs for loans in Hong Kong dollars and US dollars encourage more businesses to look overseas. http://on.ft.com/179hMkW Oppenheimer to test Brazilian bankruptcy law US-based Oppenheimer Funds is suing JBS, the world's biggest meat exporter, over its lease of the assets of a bankrupt chicken producer, in a case that could prove a test of Brazilian bankruptcy law. http://on.ft.com/1aQB7LC China to freeze trade probes in solar deal China will freeze investigations into European wine and polysilicon exports as part of a landmark settlement with Brussels to defuse a dispute over solar panels. http://on.ft.com/1aR2PYG Emerging Markets MSCI Emerging Market Index down -0.43% at 957.44 Americas DJIA up +0.02% at 15,559 S&P 500 up +0.08% at 1,692 Bovespa up +0.72% at 49,422 Asia Nikkei 225 down -2.33% at 13,801 Topix down -2.38% at 1,139 Hang Seng down -0.58% at 21,841 Shanghai Composite down -1.57% at 1,979 MSCI Asia ex-Japan down -0.71% at 520.23 CNX Nifty down -0.33% at 5,867 Currencies €/$ 1.33 (1.33) $/¥ 97.86 (98.24) Commodities Brent Crude (ICE) down -0.06 at 107.11 Light Crude (Nymex) down -0.36 at 104.34 100 Oz Gold (Comex) unchanged 0.00 at 1,322 |