A look at economic developments and activity in major stock markets around the world Monday:

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BERLIN _ The German parliament approved a second, $173 billion loan package for Greece after Chancellor Angela Merkel warned lawmakers that it would be irresponsible to abandon the country to bankruptcy.

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FRANKFURT, Germany _ The European Central Bank bought no government bonds last week for the second straight week, enhancing the impression it has shelved for now the controversial program to lower government borrowing costs.

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LONDON _ High oil prices weighed on markets, but strong housing data from the U.S. and Germany's approval of the last Greek bailout helped limit losses in Europe and push Wall Street higher.

The FTSE 100 index of leading British shares closed 0.3 percent lower while Germany's DAX fell 0.2 percent. The CAC-40 in France dropped 0.7 percent. The indexes were all closed by the time Germany's Parliament approved the latest rescue package for Greece.

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TOKYO _ In Asia, Japan's Nikkei 225 index ended down 0.1 percent, giving up gains posted earlier in the day. Hong Kong's Hang Seng fell 0.9 percent and South Korea's Kospi lost 1.4 percent.

Mainland China shares advanced for a seventh straight trading day as hopes for an easing of restrictions on housing purchases helped drive the rally. The benchmark Shanghai Composite Index added 0.3 percent and the Shenzhen Composite Index gained 0.3 percent.

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BEIJING _ China needs a new economic strategy after three decades of rapid growth and must reduce the dominance of state companies and promote free markets to achieve its goal of becoming a high-income society, the World Bank and Chinese researchers said.

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BRUSSELS _ European Union foreign ministers said they were increasingly appalled by the Syrian government's ruthless campaign of repression against civilians, and they imposed new sanctions in hopes of pressuring the regime to change course.

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PRAGUE _ The Czech prime minister says his government plans to raise taxes and make unpopular spending cuts due to an economic slowdown.

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