A Look At Economic Developments Around The Globe

By The Associated Press

A look at economic developments and stock market activity around the world Monday:

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BEIJING — China will continue buying U.S. government debt while paying close attention to possible fluctuations in the value of those assets, People's Bank of China Vice Governor Hu Xiaolian said at a news conference. China is Washington's biggest foreign creditor, holding an estimated $1 trillion in U.S. government debt. A weaker dollar would erode the value of those assets. Hu's comments follow remarks earlier this month from Chinese Premier Wen Jiabao that he was "a little bit worried" about China's holdings of U.S. government debt. Wen called on the U.S. to honor its commitments, remain credit-worthy, and ensure the safety of Chinese assets.

Shanghai's key index added 2 percent to 2,325.48 on higher commodity prices alongside a broad rally in Asia. Hong Kong's Hang Seng jumped 613.91, or 4.8 percent, to 13,447.42, and South Korea's Kospi climbed 2.4 percent to 1,199.50. Australia's benchmark gained 2.4 percent, while India's Sensex climbed 5.1 percent to 9,424.02.

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