GLOBAL MARKETS-Shares pause as markets' policy hopes grow stale
TOKYO, Aug 10 (Reuters) - Asian shares paused on Friday as investors took stock of a four-day rally driven by optimism, yet to be borne out by action, that authorities will soon take the steps needed to ease concerns over the euro zone's debt crisis and weak growth.
"Stocks are overheating and profit-takers will cool things down in the mean time, but momentum is still moving forward from a broader picture," said Lee Young-gon, an analyst at Hana Daetoo Securities.
COMMODITIES-Corn hits record high; Brent oil up for 5th day
NEW YORK, Aug 9 (Reuters) - Corn prices hit record highs on Thursday as investors girded for the U.S. government to slash its crop output foreast after the worst drought in half a century, and benchmark Brent crude rose for a fifth day on encouraging economic data.
"The general mood is bullish - any dip is still being used as a buying opportunity," said Carsten Fritsch, an energy analyst at Commerzbank in Frankfurt.
OIL-Oil up on US data, North Sea outlook, stimulus hopes
NEW YORK, Aug 9 (Reuters) - Oil futures rose on Thursday, with Brent gaining for the fifth straight session, lifted by stronger-than-expected economic data from the United States, a lower outlook for North Sea Brent production and persistent hopes for economic stimulus.
"The general mood is bullish - any dip is still being used as a buying opportunity," said Carsten Fritsch, an energy analyst at Commerzbank in Frankfurt.
OPEC says may cut 2013 oil demand growth forecast
LONDON, Aug 9 (Reuters) - OPEC may have to reduce its forecast for growth in world oil demand in 2013 by 20 percent, the exporter group said, citing a vague and turbulent outlook for the global economy.
The Organization of the Petroleum Exporting Countries left its forecast unchanged on Thursday from its estimate last month, however. Demand will expand by 810,000 barrels per day (bpd) next year, although the odds suggest oil use could undershoot that figure, it said.
China's July crude runs up 1.1 pct -stats bureau
BEIJING, Aug 9 (Reuters) - China's refinery throughput inched up 1.1 percent in July, reversing a run of declines for three straight months, but was the second lowest this year as demand stayed tepid in the world's second-largest oil consumer.
The National Bureau of Statistics said on Thursday that China processed 37.6 million tonnes, or 8.85 million barrels per day (bpd) of crude oil in July, up 1.1 percent from a year earlier.
NATURAL GAS-Front-month US natgas trims early gains, still ends up
NEW YORK, Aug 9 (Reuters) - Front-month U.S. natural gas futures trimmed early gains but still ended slightly higher on Thursday, underpinned by warm extended weather forecasts and a government report showing a weekly inventory build well below market expectations.
"It (the EIA build) was more constructive than we've seen in the last few weeks, but summer is running out, and as prices move higher, the coal (switching) load comes into question, which should cap the upside," a Massachusetts-based trader said.
EURO COAL-S.African bids drop $4/T to $87 with swaps
LONDON, Aug 9 (Reuters) -Physical prompt South African coal prices softened by $4 a tonne on Thursday after rallying on the previous day to the highest level since June.
This week's coal price rise on the back of strikes in Colombia which have cut over 1.5 million tonnes from 2012's exports, was probably an overreaction given the market's continued, overall oversupply, traders and utilities said.
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