News Today - Aug 14

* A good lead from the U.S. and rising commodities prices help extend Asian stock gains, while official comments boost Australian shares.

* Sales at U.S. retailers unexpectedly fell in July, raising the risk that consumers will keep cutting back as job losses mount and temper a recovery from the worst recession since the 1930s.

* Hong Kong probably emerged from its worst recession since at least 1990 in the second quarter as a recovery in mainland China bolstered exports

* Billionaire Li Ka-shing, who predicted China’s stock-market bubble would burst in 2007, said the global economy won’t recover this year and told investors to be “cautious” about buying shares, especially with borrowed money.

* Dollar Will Rise and Punish Stocks: Marc Faber

* Six of world's top 10 economies out of crisis

* Drought almost certain now, admits Indian Met dept