Tokyo  Nikkei  9662.08  +0.99%
Seoul   KOSPI  2135.78  +1.59%
Shanghai SSEC  2872.77  +0.70%
Hong Kong HSI 23011.10  +0.48%
Singapore STI  3141.21  +0.15%
Mumbai    BSE 18086.63  -0.28%
Sydney   AORD  4765.30  +0.26% 
   
1. Japan Service Sector Activity Drops Most in 22 Years
The Mar territory index fell 6% from the previous month. The fall is the steepest since a drop of 6.2% registered in April 1989 when the nation introduced a consumption tax.
 
2. Lotte Shopping Q1 Profit Climbs 13% on Year
S Korea's biggest department-store operator posted a net income of US$325.5 million in the 3 months ended Mar, as sales at department and discount stores increased. 
 
3. HK Regains Top Competition Spot
Swiss-based International Institute for Management Development gave Hong Kong and the US the highest marks, followed by Singapore. China fell one place to 19th out of the 59 economies surveyed. HK ranked second in last year's ranking.
 
4. Takeda to Buy Nycomed for US$12B
The drugmaker will announce the deal to acquire the Swiss rival on Wed. It would be the biggest overseas purchase by a Japanese company since Japan Tobacco paid US$19 billion for Britain's Gallagher.
 
5. TPK Universal to Purchase 19.9% of Cando
The Taiwanese firm will buy 180.1 million Cando shares at US$1.075 each, making the total investment at US$193.5 million. TPK, specializes on touch screen monitors, is the biggest supplier of Apple's iPhone and iPad.
 
6. Malaysia Seeks Help to Reach 2020 High-income Goal
Prime Minister Najib Razak set the goal to become a high-income nation by 2020 by more than doubling per capita income to US$15,000. He met a panel of technological and economic experts in New York for advice to speed up development.
 
7. MGM Resorts Plans 30 Hotels in China
The Las Vegas casino operator may open the hotels in the next 3 to 4 years. MGM Resorts is building 20 hotels in the Asia-Pacific region and its first hotel in China will begin operation in Hainan Island in Q4.
 
8. Wharf Holdings to Raise US$797M in Convertible Bond Sale
The Hong Kong property developer will issue 3-year bonds to refinance existing debt. The US$11.54 conversion price represented a 65% premium over the closing price yesterday.
 
9. Militants Kill 17 after Pakistan Security Post Attack
More than 70 militants armed with rockets and mortars attacked the post in Peshawar. 2 members of the security forces and at least 15 insurgents were killed.
 
10. Singapore PM Reshuffles Cabin after Founder Leaves
Lee Hsien Loong announced a sweeping cabinet revamp as his father Lee Kuan Yew and Goh Chok Tong, both former PMs, are out of the new cabinet after the ruling party suffered a major poll setback on May 7.