Xinhua world economic news summary at 0930 GMT, April 5
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TOKYO -- Tokyo stocks closed higher Monday with buying propelled by hopes for the pace of the recovery of the global economy following U.S. jobs data for March beating analysts' forecasts.
The 225-issue Nikkei Stock Average gained 235.25 points, or 0.79 percent, from Friday to close the day at 30,089.25, marking its highest closing level since March 18. (Japan-Tokyo Stocks-Nikkei-Topix-Closing)
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SEOUL -- South Korea's tech giant LG Electronics said on Monday that it will withdraw from the mobile phone business later this year, following years of loss-making performance.
The company said in a statement that the decision to close its mobile business unit was approved by the board of directors earlier in the day amid the continued underperformance, caused by the lack of proper response to a stiffer competition with major rivals. (South Korea-LG-Mobile Phone Business)
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BEIJING -- The total number of passenger trips topped 51.43 million Saturday, the first day of the nation's three-day Tomb-sweeping Day holiday, official data showed.
The reading jumped 157.26 percent from the same period of last year, according to the Ministry of Transport.
China's railways are expected to see an increase in passenger flows during the three-day Tomb-sweeping Day holiday from Saturday to Monday. (China-Railway-Tomb-sweeping Holiday)
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PARIS -- French economy is expected to grow by 5 percent in 2021, lower than the previously forecast 6 percent, due to the new national lockdown starting this weekend to curb the third wave of novel coronavirus epidemic, Bruno Le Maire, Minister of the Economy, Finance and the Recovery, said on Sunday.
"Closing schools and 150,000 businesses is essential to curb the circulation of the virus. But these measures will have an impact on the French economy. We are therefore going to revise our growth from 6 percent to 5 percent for 2021," the minister told the French weekly paper Le Journal du Dimanche (The Paper of Sunday). (France-Economy-Growth forecast) Enditem
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