Monday, August 17, 2015

112 NOW DEAD-722 INJURED IN CHINA PORT EXPLOSIONS-MORE EXPLOSIONS ON SITE.AND MORE ON DEVALUATION OF CHINAS CURRENCY.

JEWISH KING JESUS IS COMING AT THE RAPTURE FOR US IN THE CLOUDS-DON'T MISS IT FOR THE WORLD.THE BIBLE TAKEN LITERALLY- WHEN THE PLAIN SENSE MAKES GOOD SENSE-SEEK NO OTHER SENSE-LEST YOU END UP IN NONSENSE.GET SAVED NOW- CALL ON JESUS TODAY.THE ONLY SAVIOR OF THE WHOLE EARTH - NO OTHER. 1 COR 15:23-JESUS THE FIRST FRUITS-CHRISTIANS RAPTURED TO JESUS-FIRST FRUITS OF THE SPIRIT-23 But every man in his own order: Christ the firstfruits; afterward they that are Christ’s at his coming.ROMANS 8:23 And not only they, but ourselves also, which have the firstfruits of the Spirit, even we ourselves groan within ourselves, waiting for the adoption, to wit, the redemption of our body.(THE PRE-TRIB RAPTURE)

OTHER CHINA-STOCK MARKET NEWS
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-3rd-day.html
http://israndjer.blogspot.ca/2015/08/china-currency-wars-angers.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-second-day.html
http://israndjer.blogspot.ca/2015/08/china-devalues-its-currency-stocks-fall.html
http://israndjer.blogspot.ca/2015/08/greece-lenders-clinch-bailout-deal.html

OTHER CHINA EXPLOSION PORT NEWS
http://israndjer.blogspot.ca/2015/08/at-least-56-dead-720-injured-in-chinese.html
http://israndjer.blogspot.ca/2015/08/at-least-52-killed-52-in-serious.html

FIRES AND EXPLOSIONS

REVELATION 8:7
7 The first angel sounded, and there followed hail and fire mingled with blood, and they were cast upon the earth: and the third part of trees was burnt up, and all green grass was burnt up.

LUKE 21:25-26
25 And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity;(MASS CONFUSION) the sea and the waves roaring;(FIERCE WINDS)
26 Men’s hearts failing them for fear,(TORNADOES,HURRICANES,STORMS) and for looking after those things which are coming on the earth:(DESTRUCTION) for the powers of heaven shall be shaken.(FROM QUAKES,NUKES ETC)

LUKE 21:11
11 And great earthquakes shall be in divers places, and famines, and pestilences;(BIOLOGICAL/CHEMICAL/NUCLEAR) and fearful sights and great signs shall there be from heaven.

ISAIAH 26:21
21 For, behold, the LORD cometh out of his place to punish the inhabitants of the earth for their iniquity:(GOD/ISRAEL HATE AND BRAKING OF HIS COMMANDMENTS) the earth also shall disclose her blood, and shall no more cover her slain.(WW3,1/2 earths population die - 4 BILLION).

MALACHI 4:1
1 For, behold, the day cometh, that shall burn as an oven;(FROM ATOMIC BOMBS) and all the proud, yea, and all that do wickedly, shall be stubble: and the day that cometh shall burn them up, saith the LORD of hosts, that it shall leave them neither root nor branch.

ZECHARIAH 14:12-13
12 And this shall be the plague wherewith the LORD will smite all the people that have fought against Jerusalem; Their flesh shall consume away while they stand upon their feet,(DISOLVED FROM ATOMIC BOMB) and their eyes shall consume away in their holes,(DISOLVED FROM ATOMIC BOMB) and their tongue shall consume away in their mouth.(DISOLVED FROM ATOMIC BOMB)(BECAUSE NUKES HAVE BEEN USED ON ISRAELS ENEMIES)(GOD PROTECTS ISRAEL AND ALWAYS WILL)
13 And it shall come to pass in that day, that a great tumult from the LORD shall be among them; and they shall lay hold every one on the hand of his neighbour, and his hand shall rise up against the hand of his neighbour.(1/2-3 BILLION DIE IN WW3)(THIS IS AN ATOMIC BOMB EFFECT)

PROOF HALF ON EARTH DIE DURING THE 7 YR TRIBULATION PERIOD (8 BILLION ON EARTH)

REVELATION 6:7-8 (8 BILLION- 2 BILLION = 6 BILLION)
7 And when he had opened the fourth seal, I heard the voice of the fourth beast say, Come and see.
8 And I looked, and behold a pale horse:(CHLORES GREEN) and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth,(2 BILLION) to kill with sword,(WEAPONS) and with hunger,(FAMINE) and with death,(INCURABLE DISEASES) and with the beasts of the earth.(ANIMAL TO HUMAN DISEASE).

REVELATION 9:15,18 (6 BILLION - 2 BILLION = 4 BILLION)
15 And the four(DEMONIC WAR) angels were loosed,
18 By these three was the third part of men killed,(2 BILLION) by the fire, and by the smoke, and by the brimstone, which issued out of their mouths.(NUCLEAR ATOMIC BOMBS)

HALF OF EARTHS POPULATION DIE DURING THE 7 YR TRIBULATION.(THESE VERSES ARE JUDGEMENT SCRIPTURES NOT RAPTURE SCRIPTURES)

LUKE 17:34-37 (8 TOTAL BILLION - 4 BILLION DEAD IN TRIB = 4 BILLION TO JESUS KINGDOM) (HALF DIE DURING THE 7 YR TRIBULATION PERIOD JUST LIKE THE BIBLE SAYS)(GOD DOES NOT LIE)(AND NOTICE MOST DIE IN WAR AND DISEASES-NOT COMETS-ASTEROIDS-QUAKES OR TSUNAMIS)
34 I tell you, in that night there shall be two men in one bed; the one shall be taken,(IN WW3 JUDGEMENT) and the other shall be left.(half earths population 4 billion die in the 7 yr trib)
35 Two women shall be grinding together; the one shall be taken,(IN WW3 JUDGEMENT) and the other left.
36 Two men shall be in the field; the one shall be taken,(IN WW3 JUDGEMENT) and the other left.
37 And they answered and said unto him, Where, Lord? And he said unto them, Wheresoever the body is, thither will the eagles be gathered together.(Christians have new bodies,this is the people against Jerusalem during the 7 yr treaty)(Christians bodies are not being eaten by the birds).THESE ARE JUDGEMENT SCRIPTURES-NOT RAPTURE SCRIPTURES.BECAUSE NOT HALF OF PEOPLE ON EARTH ARE CHRISTIANS.AND THE CONTEXT IN LUKE 17 IS THE 7 YEAR TRIBULATION OR 7 YR TREATY PERIOD.WHICH IS JUDGEMENT ON THE EARTH.NOT 50% RAPTURED TO HEAVEN.

MATTHEW 24:37-42
37 But as the days of Noe were, so shall also the coming of the Son of man be.
38 For as in the days that were before the flood they were eating and drinking, marrying and giving in marriage, until the day that Noe entered into the ark,
39 And knew not until the flood came, and took them all away; so shall also the coming of the Son of man be.
40 Then shall two be in the field; the one shall be taken,(IN WW3 JUDGEMENT) and the other left.
41 Two women shall be grinding at the mill; the one shall be taken,(IN WW3 JUDGEMENT) and the other left.
42 Watch therefore:(FOR THE LAST DAYS SIGNS HAPPENING) for ye know not what hour your Lord doth come.

SECOND ANGEL TO DR DOCTORIAN
Then I saw that the second angel had a sickle in his hand, such as is used in harvesting. The second angel said, Harvest time has come in Israel and the countries all the way to Iran. I saw those countries in a few split seconds. All of Turkey and those [inaudible;] countries that have refused me and refused my message of love shall hate each other and kill one another. I saw the angel raise the sickle and come down on all the Middle East countries.I saw Iran, Persia, Armenia, Azerbaijan, all of Georgia - Iraq, Syria, Lebanon, Jordan, Israel, all of Asia Minor - full of blood. I saw blood all over these countries. And I saw fire; Nuclear weapons used in many of those countries. Smoke rising from everywhere. Sudden destruction - men destroying one another.I heard these words, Israel, Oh Israel, the great judgment has come.The angel said, The chosen, the church, the remnant, shall be purified. The Spirit of God shall prepare the children of God. I saw fires rising to heaven. The angel said, This is the final judgment. My church shall be purified, protected and ready for the final day. Men will die from thirst. Water shall be scarce all over the Middle East. Rivers shall dry up, and men will fight for water in those countries.The angel showed me that the United Nations shall be broken in pieces because of the crisis in the Middle East. There shall be no more United Nations. The angel with the sickle shall reap the harvest.

Rescuers work to clear China blast site of chemicals before rain falls-Reuters By Megha Rajagopalan-AUG 16,15-YAHOONEWS

TIANJIN, China (Reuters) - Chinese soldiers and rescue workers in gas masks and hazard suits searched for toxic materials in China's port of Tianjin on Sunday as Premier Li Keqiang arrived to offer condolences, days after explosions flattened part of a national development zone.The goal is to clear the chemicals before any rain falls, which could create further toxic gas.The death toll rose to 112 from Wednesday's disaster, which sent massive yellow and orange fireballs into the sky, hurled burning debris on to a vast industrial area, crumpled cars and shipping containers, burnt out buildings and shattered windows of nearby apartments.The number of missing rose to 95, most of them fire fighters, state media said, suggesting the toll would rise significantly. More than 720 people remained in hospital.Officials acknowledged the presence of toxins but said they posed no risk to people outside a two-km evacuation zone surrounding the blast area."I can responsibly say that there will be no secondary damage to the people," Shi Luze, the chief of staff of the People's Liberation Army's Beijing Military Region, told reporters, referring to people outside the zone.Shi confirmed the presence of more than 100 tons of deadly sodium cyanide, stored at two separate sites. He said workers were trying to clear the area of chemicals before possible rain showers, which could create toxic gas.Fire crews were criticized for using water to douse flames in the initial fire which may have contributed to the blasts, given the volatile nature of the chemicals involved.Greenpeace said tests around the blast site showed that water supplies were not severely contaminated with cyanide, but that they did not "disprove the presence of other hazardous chemicals in the water"."Greenpeace reiterates its call for authorities to implement a comprehensive survey of hazardous chemicals currently present in air and water supplies and make public all information," it said.In an earlier statement, the environmental organization urged the government to establish a five-km (three-mile) evacuation zone.China evacuated residents who had taken refuge in a school near the site of the blasts on Saturday after a change in wind direction prompted fears that toxic chemical particles could be blown inland.It was not clear from media reports how many people were evacuated, but the order came as a fire broke out again that day at the blast site, a warehouse specially designed to store dangerous chemicals, according to Xinhua.Some 6,300 people have been displaced by the blasts. Shockwaves were felt by residents in apartment blocks kilometers away in the city of 15 million people.About 100 people from a residential area near the blast site protested outside a hotel where a government press briefing was held, angry that dangerous chemicals had been stored near their homes."I'm very worried that these dangerous chemicals will harm my health," said Zhang Yinbao, who works in the chemical industry and whose apartment building is only 800 meters from the blast site.For a warehouse the size of the one that exploded, that's closer to a residential area than allowed under laws that deal with the storage of dangerous materials, according to state media reports."From a legal perspective it's unreasonable that dangerous chemicals would be so close," Zhang said, calling for a thorough investigation and compensation.Emotional family members of missing fire fighters - 85 of the 95 people missing - also protested, marching to district government offices where they scuffled with police, desperate for answers, before being dispersed.Industrial accidents are not uncommon in China following three decades of fast growth. A blast at an auto parts factory killed 75 people a year ago.(Reporting by Megha Rajagopalan and Natalie Thomas in TIANJIN, Writing by Michael Martina and Matthew Miller; Editing by Nick Macfie)

China blast zone blocked over contamination fear; 112 dead-Associated Press By PAUL TRAYNOR-AUG 16,15-YAHOONEWS

TIANJIN, China (AP) — Authorities pulled more bodies from a massive blast site at China's Tianjin port, pushing the death toll to 112 on Sunday as teams rushed to clear dangerous chemicals and prosecutors prepared an investigation into those responsible for the disaster.More than 700 people were injured and 95 people, including dozens of firefighters, are missing after a fire and rapid succession of blasts late Wednesday hit a warehouse for hazardous chemicals in a mostly industrial area of Tianjin, 120 kilometers (75 miles) east of Beijing.By Sunday, authorities confirmed there were "several hundred" tons of the toxic chemical sodium cyanide on the site at the time of the blasts, although they said there have not been any substantial leaks. Sodium cyanide is a toxic chemical that can form a flammable gas upon contact with water, and several hundred tons would be a clear violation of rules cited by state media that the warehouse could store no more than 10 tons at a time.Tianjin officials have ordered a citywide check on any potential safety risks and violation of fire rules, mandating suspension of operations for factories that cannot immediately comply with safety rules. Chinese Premier Li Keqiang was in Tianjin on Sunday, visiting those injured and displaced by the disaster.The country's top prosecuting office announced Sunday that it was setting up a team to investigate possible offenses related to the massive blasts, including dereliction of duty.Zhi Feng, general manager of the warehouse's operator, Ruihai International Logistics, has been under police watch while he receives medical treatment to ensure he does not flee during an investigation, state media reported, without giving further details. Zhi was hospitalized after being injured in the disaster.The death toll includes at least 21 firefighters — making the disaster the deadliest for Chinese firefighters in more than six decades — and their toll could go much higher. About 1,000 firefighters responded to the disaster, and 85 of them remained unaccounted for on Sunday.Angry relatives of the missing firefighters and local residents whose homes were destroyed by the blasts showed up at a government news conference Sunday to demand information and accountability.The public has raised concerns whether firefighters were put into harm's way in the initial response to the fire and whether the hazardous material — including compounds combustible on contact with water — was properly taken into account in the way the firefighters responded.The massive explosions late Wednesday night happened about 40 minutes after reports of a fire at the warehouse and after an initial wave of firefighters arrived and, reportedly, doused some of the area with water.Outside the Mayfair Hotel, where the authorities hold regular news conferences, a woman pleaded Sunday for information on her husband." They have said nothing. We know nothing," the woman said. "We've been told nothing."Another man demanded information from a government official. "We've been here for three days, and we've not had one piece of information," he said.Local officials have been hard-pressed to explain why authorities permitted hazardous goods warehouses so close to residential complexes and critical infrastructure, clearly in violation of the Chinese rule that hazmat storage should be 1,000 meters (yards) away from homes and public structures.Homeowners of the nearby Qihang residential compound on Sunday unfurled banners demanding government accountability and proper compensations for their damaged homes. Many were wearing masks, and some had bandages, possibly over cuts.Many people in the area suffered injuries from glass shattered in the huge fireballs that lit up the night sky Wednesday night.On Sunday, Shi Luze, chief of staff for the People's Liberation Army's Beijing region, said authorities believe there were "several hundred" tons of sodium cyanide at the warehouse. He said that leaked chemicals were being neutralized and those still in packages removed from the site.He also said that 3,000 soldiers had been dispatched to the disaster zone to clean up any leaks of hazardous materials.Authorities temporarily detected the highly toxic hydrogen cyanide in the air slightly above safety levels at two locations, Tianjin environmental official Bao Jingling told a news conference Sunday morning. The contamination Saturday afternoon, at 4 percent and 50 percent above the safety level, was no longer detectable later Saturday, Bao said. "These levels are actually very low," he said. Bao said the cyanide was yet to be detected in water samples.Authorities were keeping residents, journalists and other people not involved in the disaster response outside a 3-kilometer (1.8-mile) radius around the site of the explosions in what media reports said was an operation to clean up the sodium cyanide.The Tianjin blasts are among the deadliest industrial accidents in China in recent years. In June 2013, a fire at a poultry plant in the northeastern province of Jilin killed 121 people. In August 2014, a dust explosion at a metal plant in the eastern province of Jiangsu left 97 people dead.___Associated Press videojournalist Wong Wai-bor in Tianjin and writers Didi Tang, Ian Mader and Christopher Bodeen in Beijing contributed to this report.

Hundreds of tonnes' of cyanide at China blasts site: military-AFP By Kelly Olsen-AUG 16,15-YAHOONEWS

Tianjin (China) (AFP) - Hundreds of tonnes of highly poisonous cyanide were being stored at the warehouse devastated by two giant explosions in the Chinese port city of Tianjin which killed 112, a senior military officer said Sunday.The comments by Shi Luze, chief of the general staff of the Beijing military region, were the first official confirmation of the presence of the chemical at the hazardous goods storage facility at the centre of the massive blasts.The disaster has raised fears of toxic contamination. Residents and victims' families hit out at authorities for what they said was an information blackout, as China suspended or shut down dozens of websites for spreading "rumours".Nearly 100 people remain missing, including 85 firefighters, though officials cautioned that some of them could be among the 88 corpses so far unidentified.More than 700 people have been hospitalised as a result of Wednesday's blasts -- which triggered a huge fireball and a blaze that emergency workers have struggled to put out since then, with fresh explosions on Saturday.State prosecutors said Sunday they have started an investigation to see if dereliction of duty played a role in the disaster, the official Xinhua news agency reported.In a sign of the potentially horrific nature of some of the injuries, the main state evening news bulletin Sunday showed a hospitalised patient whose head, face and neck were completely encased in thick white bandaging save for openings at the eyes nose and mouth.Shi, who is a general, told a news conference that cyanide had been identified at two locations in the blast zone. "The volume was about several hundreds of tonnes according to preliminary estimates," he said.A military team of 217 chemical and nuclear experts was deployed early on, and earlier Chinese reports said 700 tonnes of sodium cyanide were at the site.Officials have called in experts from producers of the material -- exposure to which can be "rapidly fatal", according to the US Centers for Disease Control -- to help handle it, and the neutralising agent hydrogen peroxide has been used.Authorities have repeatedly sought to reassure the public, insisting that despite the presence of some pollutants at levels above normal standards, the air in Tianjin remains safe to breathe.Premier Li Keqiang arrived in the city on Sunday afternoon to direct rescue efforts, a common move after major disasters in the country.Pictures showed the Communist Party number two within a kilometre (mile) of the blast site, dressed in an ordinary white shirt and not wearing a mask.Xinhua reported late Saturday that cyanide density in waste water had been 10.9 times standard on the day following the explosions. It has since fallen but was still more than twice the normal limit.- Testing water -Environmental campaign group Greenpeace said Sunday it had tested surface water for cyanide at four locations in the city and had not detected high levels of the chemical."These results show that local water supplies are not currently severely contaminated with cyanide," it said, but reiterated its call for comprehensive tests on the air and water and for publication of the results.On Saturday a three-kilometre (two-mile) radius from the site of the blasts was evacuated, state-run media reported. Officials said later the reports were inaccurate but vehicles were turned back at barriers.On Sunday AFP saw young men, carrying personal belongings, leave FAW Toyota apartments and board a bus waiting to take them to alternative accommodation. Police in masks could be seen at one checkpoint.Steve Ra, an American who was evacuated by his employer to another area of Tianjin, said he was worried about the potential health effects."The main concern is just the air," Ra told AFP. "I'm waiting to go back to get my normal life back. But I don't know what I'll be breathing so that's the biggest concern."Tianjin residents, relatives of the victims and online commentators have slammed local authorities for a lack of transparency, and tried to storm a news conference on Saturday.- 'No truth!' -On Sunday sobbing men confronted security at the hotel where officials have been briefing journalists, with one shouting "Police, I will kill someone!" in what appeared to be a desperate bid to attract attention before being comforted by a policeman.Another lashed out at reporters attempting to photograph him, saying: "Don't take my photo, it is useless. The news has no truth!"Outside, residents of a building damaged by the blasts held a protest.The government has moved to limit criticism of the handling of the aftermath, with a total of 50 websites shut down or suspended for "creating panic by publishing unverified information or letting users spread groundless rumours", according to the Cyberspace Administration of China.Critical posts on social media have also been blocked, and more than 360 social media accounts have been punished.One poster on microblogging platform Sina Weibo wrote: "Why is it 'rumours' are flying everywhere every time there is a disaster? Are they really rumours? "The government is lying... You have lied to the people too much and made yourself untrustworthy."

HOARDING OF GOLD AND SILVER

DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.

JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.

EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.

LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2  (And this taxing was first made when Cyrenius was governor of Syria.)
3  And all went to be taxed, every one into his own city.

REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.

JD FARAG ON COMING ECONOMIC COLLAPSE
https://www.youtube.com/watch?v=fYSHH-Rkpx4

China yuan to move both ways, more 'adjustments' unlikely: central bank economist-Reuters- AUG 16,15-YAHOONEWS

BEIJING (Reuters) - China's move to weaken the yuan last week could head off further similar "adjustments", and the yuan is likely to move in both directions as the economy stabilizes, Ma Jun, chief economist at the central bank said on Sunday.The People's Bank of China (PBOC) shocked global markets by devaluing the yuan by nearly 2 percent on Aug. 11. The PBOC called it a free-market reform but some saw it as the start of a long-term yuan depreciation to spur exports.The yuan's drop last week and its increased flexibility could help "sharply reduce the possibility" of similar adjustments in future, Ma said.In the near term, it is more likely there will be "two way volatility," or appreciation and depreciation of the yuan, Ma said in a question-and-answer statement sent by email.The central bank would move only in "exceptional circumstances" to iron out "excessive volatility" in the exchange rate, Ma said.Ma played down market fears that a "currency war" could be triggered by China's devaluation, which dragged some other Asian currencies to multi-year lows."China has no intention or need to participate in a 'currency war'," Ma said in the statement."There is no need to worry" that the central bank will continue to intervene in the market to support the yuan as China's economy stabilizes, Ma said."In the future, even if the central bank needed to intervene in the market, it may be in either direction," he added.Ma also said that he expected the economy to grow around 7 percent this year - in line with the government's target.(Reporting by Matthew Miller; Editing by Richard Borsuk)

China's long march to currency reform takes a step forward-AFP By Bill Savadove-August 15, 2015 6:33 AM-YAHOONEWS

Shanghai (AFP) - China's currency devaluation is a step in the long march to a more open regime for the yuan, analysts say, but authorities will need to further loosen their controls to promote long-term growth.The central bank on Tuesday unveiled a near two percent devaluation of the yuan, saying the move was part of broader economic reforms aimed at moving towards a more flexible exchange rate.The suddenness and scale of the devaluation in a normally stable unit rocked global financial markets, as investors took it as a sign the world's second-largest economy is performing worse than revealed, and sparked worries China had fired the first shot in a currency war.It also compounded jitters over China's financial health after a debt-fuelled stock market bubble burst in June, following a 150 percent surge in the previous 12 months.China's central bank soothed markets by setting the daily reference rate of the yuan -- also known as the renminbi (RMB) -- against the US dollar marginally higher on Friday, ending an almost five percent fall over three days.Analysts cheered the move towards a more market-based Chinese currency, but said other reforms had become more urgent as the Asian giant seeks a more sustainable growth model in the face of a slowing economy." Reducing overvaluation of the RMB is a welcome change that eliminates one source of unnecessary self-inflicted pain," the Asian Development Bank's chief economist Shang-Jin Wei said Friday.ANZ Banking Group's chief economist for Greater China, Liu Ligang, hailed the move as "very important" but said more reforms, such as freer capital flows, liberalising interest rates and more allowing financial products to hedge against risk, were still needed.If the bank had acted sooner, the impact on the economy would be "more obvious", he told AFP.- 'Killing two birds' -The People's Bank of China (PBoC) used to decide its daily yuan refence rate by polling market-makers, but will now consider the previous day's close, foreign exchange supply and demand and the rates of major currencies.The yuan is restricted to trading up or down two percent from the daily rate, although the State Council, the cabinet, has signalled it does intend to broaden the trading band.China is currently bidding to join the International Monetary Fund's basket of reserve currencies, but the Washington-based lender has said more reforms are needed for membership.Beijing is "killing two birds with one stone: it can release depreciation pressure to help the economy grow and meet the IMF's requirement of letting the yuan be more market-oriented", Zhang Ning, a Hong Kong-based economist for UBS, told AFP.The yuan devaluation has also been seen as a means for authorities to help the slowing economy by boosting exports -- a key driver of China's extraordinary rise in the past three decades.For the Henry Parts company in the eastern city of Ningbo, the devaluation means more orders from foreign customers for its machinery components."The devaluation will increase our revenue and we can get the orders we couldn't get before," manager He Zhanyong told AFP.China's economy expanded 7.4 percent last year, its weakest since 1990, and has slowed to 7.0 percent in each of the first two quarters. The government wants growth of around 7.0 percent for all of 2015.- Currency war -Still, there are worries the move could set off a "currency war" as regional neighbours and other emerging market countries face pressure to devalue to stay competitive."To some extent, the PBoC has served as an anchor in the region and the move now allows other currencies to weaken further," Societe Generale Group said in a research report.Asia-Pacific currencies this week suffered their biggest two-day selloff since 1998, during the Asian financial crisis, while Russia's ruble slid to a six-month low.A disorderly devaluation could hamper Beijing's push for greater global stature for the yuan and the government's pursuit of a bigger say in world finance, typified by its role setting up two new multilateral banks for Asia and the BRICS nations, which also include Brazil, Russia, India and South Africa.Argentina has nearly $34 billion in foreign exchange reserves but about a quarter are denominated in yuan and their value declined after the Chinese devaluation, Bloomberg News reported.Chinese central bank officials have denied a currency war was the intention, but have been more cagey about the timetable for further reforms to the yuan.Asked if China was on track to open its capital account to investment flows this year, as previously pledged, one official said the process would be orderly."China's schedule for capital account convertibility is steadily advancing," PBoC Deputy Governor Yi Gang told a news conference on Thursday. "We will proceed in an orderly way according to our own schedule to realise it."

Yuan and oil stabilize, giving US stocks a lift-US stocks end higher as Chinese currency stabilizes and oil edges up from six-year low-Associated Press By Bernard Condon, AP Business Writer-August 14, 2015 5:22 PM-YAHOONEWS

NEW YORK (AP) -- A rocky week for the stock market ended on a bright note as investors bought stocks across industries.Stocks wavered in the morning before climbing steadily during the afternoon amid a mix of earnings results. The market also got a lift as China's currency steadied after a slump earlier in the week that shook financial markets around the world. The gains were modest but broad, with nine of the 10 sectors of the Standard and Poor's 500 index ending higher.The S&P 500 climbed 8.15 points, or 0.4 percent, to 2,091.54. The Dow Jones industrial average rose 69.15 points, or 0.4 percent, to end at 17,477.40. The Nasdaq composite rose 14.68 points, or 0.3 percent, to 5,048.24.At the close of stock trading, the dollar was buying 6.391 Chinese yuan, little changed from the previous day. Reassuring comments from a Chinese central bank official on Thursday seemed to ease concerns that China's government would seek to devalue its currency further. Investors were worried that the devaluation suggested the world's second-largest economy could be more fragile than they previously thought."We were in a sell-first-ask-questions-later mode, but we've rallied back," said Piers Cornelius, a managing director at J.P. Morgan Private Bank. He says he expects stocks to stabilize over the next few weeks as companies, flush with record cash, continue to buy back their own shares.Stocks of retailers rallied after some solid earnings reports.Nordstrom rose $3.21, or 4.3 percent, $78.13 after beating analysts' expectations in results announced late Thursday. J.C. Penney rose 45 cents, or 5.6 percent, to $8.52 after a narrower loss on stronger-than-expected sales as the retail chain continues to turn its business around.Investors are hoping for good news in the current quarter, too. On Thursday, the Commerce Department reported U.S. retail sales climbed last month, suggesting that strong hiring and lower gas prices are encouraging consumers to spend more.Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute, said investors have been remarkably calm in the face of several potentially unnerving events, including a slowing Chinese economy, Greece's debt troubles, plunging oil prices and the Federal Reserve possibly raising interest rates next month."You've got recurrent issues worrying the market ... yet it's been pretty lethargic," he said. "It's been trading at a narrow range despite all the noise."The S&P 500 is basically unchanged in the last six months. For the week, it rose 0.7 percent. Europe had a tougher week. Germany's DAX fell 4.4 percent, the CAC-40 in France dropped 3.9 percent and Britain's FTSE 100 was down 2.5 percent. All three indexes were down Friday.In addition to worries about China, European economic growth is weak. Figures from the European Union's statistics agency on Friday showed that growth across the region was 0.3 percent, down slightly from 0.4 percent growth in the first three months of the year.Among other U.S. stocks making big moves:— Applied Materials fell 41 cents, or 2.4 percent, to $16.64 after the chip-making equipment company said that revenue for its most recent reporting period fell short of analysts' expectations. The company also said sales for the current quarter could fall as much as 7 percent.— Sysco rose $2.86, or 7.4 percent, to $41.38 after an investment firm run by activist investor Nelson Peltz said it had acquired a 7.1 percent stake, making it the food distributor's largest shareholder.The price of U.S oil rose slightly, but still ended the week sharply lower as rising supplies continue to outpace global demand growth. U.S. crude rose 27 cents Friday to close at $42.50. For the week, it was down 3 percent after hitting a six-year low on Thursday. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 19 cents to close at $49.03 in London.In other futures trading on the NYMEX:— Wholesale gasoline fell 2.7 cents to close at $1.687 a gallon.— Heating oil fell 1.1 cents to close at $1.558 a gallon.— Natural gas rose 1.4 cents to close at $2.801 per 1,000 cubic feet.In metals trading, gold fell $2.90 to $1,112.70 an ounce and silver dropped 18.6 cents to $15.21 an ounce. Copper was little changed at $2.35 per pound.Prices of U.S. government bonds barely moved, keeping the 10-year Treasury yield at 2.19 percent.

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