Tokyo Nikkei 9859.20 -1.45%
Seoul KOSPI 2147.45 -1.52%
Shanghai SSEC 2863.89 -0.30%
Hong Kong HSI 23159.14 -0.44%
Singapore STI 3103.80 -0.19%
Mumbai BSE 18518.81 +1.69%
Sydney AORD 4816.10 -0.27%
1. Asia Stocks Fall as Commodity Prices Slump
The MSCI Asia Pacific Index dropped 1% at Tokyo afternoon, as commodities extended the biggest slump since 2009. Japan Nikkei fell 1.5%. Hong Kong Hang Seng Index slid 0.4%, dropping for the 8th day.
2. Mitsui Sees Record Profit
The Japanese trading house forecast the net income would be US$5.34 billion in FY12, 17% higher than a year earlier, because of higher commodity prices. It may post a net profit of US$4.57 billion in FY11.
3. KT Corp Q1 Profit Jumps 85%
Net income of the largest phone and internet firm in S Korea climbed to US$511 million in the 3 months ended Mar on smartphone sales and its move to use a new reporting standard.
4. India Cuts Growth Forecast to 8.5%
The top economic adviser to India's prime minister has reduced his forecast for economic growth in the current fiscal year by 0.5%, citing inflationary pressures.
5. UOB Q1 Profit Drops 13% on Year
Net income of Southeast Asia's 3rd largest bank fell to US$493.2 million after it booked a one-time gain from asset sales a year earlier. The bank's loan growth contracted 7% quarter-on-quarter.
6. Malaysia Exports Gain 7.8%
The overseas shipments valued US$2.1 billion in Mar, after posting a revised 10.5% year-on-year growth in Feb. Shipments of electrical and electronics products to the U.S. and Southeast Asia fell.
7. GM's China Sales Fall in Apr
The US automaker and its joint venture sold 203,367 vehicles last month, down slightly from a year earlier. Its flagship venture Shanghai GM sold 7.4% more to 96,219 units in Apr. But the rise was offset by slowing sales growth at its other China operations.
8. Philippines Raises Rates by 0.25%
The central bank increased the benchmark rate for a 2nd straight month to 4.5%. The decision was in line with expectation. The bank also said its 3% to 5% inflation target for 2011 remained at risk.
9. Sony CEO Apologizes for Massive Data Breach
The company said the cyber attacks in April may have compromised personal data from more than 100 million online gaming accounts. Sony also launched an identity theft protection program for its U.S. account holders.
10. China, S Korea Plan Defense Chief's Hotline
It was reported that both countries set up telephone hotlines in 2008 between their navies and air forces. This issue is expected to be on the agenda during defence ministers' talks this summer.