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Prosecutors in Tianjin said earlier they were investigating two senior officials from Binhai district on suspicion of corruption, although they did not specify whether the charges were linked to the blasts.

And now the People’s Bank of China has joined the parade. However, the stronger dollar over the past year constitutes a headwind for net exports and a drag on growth.

Apple (Swiss: AAPL.SW – news), for whom China is a key market, fell 0.5 percent to 116.60 and was the biggest drag on the Nasdaq and the S&P 500.

Police are evacuating everyone within three kilometres of the blast site amid reports more explosions have rocked the northern Chinese city, CNN reports. At least 21 firefighters are among the dead and an unknown number remain missing.

On its part, China has increased its presence on the continent funding major infrastructure projects in a number of Sub-Saharan Africa countries as it sort to gain a upper hand in deals that involve raw material for its fast growing industries back home.

The drop by shares of Wal-Mart came after the company reported weaker than expected second quarter earnings and lowered its full-year guidance. The Dow Jones Industrial Average fell 43 points, or 0.2%, to 17,503 at the open.

The high insurance penetration rate in this area could make the blasts one of the most costly catastrophe claims for the Chinese insurance sector in the past few years, the report said. It is one of the government agencies responsible for regulating companies that work with...

The explosions have disrupted the flow of cars, oil, iron ore and other items through the world’s 10th largest port.

U.S. gold for December delivery rose 0.4 percent to $1,117.30 an ounce.

The People’s Bank of China insists there is no ground for sustained yuan depreciation, however a second consecutive daily devaluation would suggest otherwise.

The Obama administration has warned China about the use of undercover operatives in the United States who are assigned to pressure Chinese fugitives to return home and in some cases to recover assets gained through alleged corruption, U.S. officials said.

In euro terms, gold is holding its own at above €1,000 per troy ounce. The rand is expected to come under more pressure from inflation and retail figures for July due on Wednesday. In addition, auto sales have remained healthy, as has the housing sector.

Tianjin: Hundreds of residents displaced by huge explosions last week in the Chinese port of Tianjin demanded compensation on Monday, as authorities worked to complete a sweep of the blast site for risky chemicals.

Meanwhile, angry relatives of missing firefighters have stormed a government news conference demanding information about their loved ones.

The U.S. stock market is rising at midday, bouncing back from a discouraging report on manufacturing. The Dow Jones Industrial Average and the S&P 500 notched up 0.4 and 0.5 percent, respectively. The Australian dollar, often used as a liquid proxy of China-related trades,...