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Gorbachev warns of 'dangerous point' as US-Russia ties sour

  Former Soviet leader Mikhail Gorbachev is warning the world has reached a "dangerous point" as tensions between Russia and the United States spike over the Syria conflict (AFP Photo/Joseph Eid) Moscow (AFP) - Former Soviet leader Mikhail Gorbachev warned on Monday that the world has reached a "dangerous point" as tensions between Russia and the United States spike over the Syria conflict. Relations between Moscow and Washington -- already at their lowest since the Cold War over the Ukraine conflict -- have soured further in recent days as the United States pulled the plug on Syria talks and accused Russia of hacking attacks. The Kremlin has suspended a series of nuclear pacts, including a symbolic cooperation deal to cut stocks of weapons-grade plutonium. "I think the world has reached a dangerous point," Gorbachev, 85, told state news agency RIA Novosti. "I don't want to give any concrete prescriptions but I do want to say that this needs to stop. We need to renew dialogue. Stopping it was the biggest mistake." As the last leader of the Soviet Union, Gorbachev oversaw an easing of decades of tensions with the West that helped to end the Cold War. He signed several landmark nuclear disarmament deals with Washington aimed at defusing the standoff between the two superpowers. "It is necessary to return to the main priorities. These are nuclear disarmament, the fight against terrorism, the prevention of an environmental disaster," he said. "Compared to these challenges, all the rest slips into the background."

Asian markets mixed, Samsung drops 3.8% on new Galaxy Note 7 blow

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Jung Yeon-Je | AFP | Getty Images

Asian shares were mixed Thursday, with Samsung Electronics in focus after the stock plunged in reaction to the latest problems with the Galaxy Note 7 smartphone.

Samsung fell 3.81 percent in early Asian trade to 1,616,000 won ($1,451.35) a share after news that the South Korean tech giant asked its global partners to stop all sales and exchanges of its flagship Galaxy Note 7 smartphone and advised users to switch their phones off.

There were reports at the weekend that devices given to customers to replace their fire-prone phones were also catching fire, and Samsung said on Monday that it had adjusted shipment volumes on Note 7s so it could focus on quality control.

More broadly, South Korea's Kospi was down 0.1 percent in morning trade.

In Japan, the Nikkei was 1.22 percent higher, likely due to the surge in oil prices and a weaker yen. The dollar/yen was up 0.35 percent at 103.94, from 102 levels last week.

Japanese airbag maker Takata fell 6.67 percent after Wall Street Journal reported that the embattled firm was considering a U.S. bankruptcy filing in order to clear a path for an external investor to take a stake in the company.

Mainland Chinese markets opened positive; the Shanghai composite was up 0.1 percent while the Shenzhen composite was up 0.052 percent. In Hong Kong, the Hang Seng index was higher by 0.64 percent.

Australia's ASX 200 was up 0.33 percent, supported by a 2.33 percent rise in the energy subindex.

Symbol
Name
Price
 
Change
%Change
NIKKEI NIKKEI 17055.75
 
195.66 1.16%
HSI HSI 23609.29
 
-242.53 -1.02%
ASX 200 S&P/ASX 200 5481.10
 
5.67 0.10%
SHANGHAI Shanghai 3059.82
 
11.68 0.38%
KOSPI KOSPI Index 2032.82
 
-24.00 -1.17%
CNBC 100 CNBC 100 ASIA IDX 6941.99
 
-41.74 -0.60%

Australia's materials sector climbed 1.14 percent and major miners were also higher; BHP Billiton clocked a 1.67 percent gain, Rio Tinto rose 2.03 percent and Fortescue Metals Group was up 2.49 percent.

This was likely due to iron ore and steel futures in China bouncing back from multi-week lows on Monday on hopes that Beijing would not curb property purchases, Reuters reported.

Business conditions in Australia also picked up in September, as companies reported higher sales, profits and a rise in forward orders, according to National Australia Bank's monthly survey.

In Singapore, the Monetary Authority of Singapore said it had ordered Swiss wealth management firm Falcon Private Bank to cease operations in Singapore, over lapses in the way it managed funds connected to the troubled Malaysian sovereign fund 1MDB.

The city-state's central bank had ordered the shutdown of another Swiss private bank, BSI, in May over similar braches, and recently charged people connected to the 1MDB probe. On Tuesday it also imposed fines on DBS Bank and UBS' Singapore branch for breaching anti-money laundering regulations.

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