Tokyo  Nikkei  9460.63  -1.52%
Seoul   KOSPI  2055.71  -2.64%
Shanghai SSEC  2774.57  -2.93%
Hong Kong HSI 22711.00  -2.11%
Singapore STI  3100.48  -1.83%
Mumbai    BSE 17993.33  -1.82%
Sydney   AORD  4722.90  -1.76% 
 
1. Asia Stocks Fall to 2-Month Low
The MSCI Asia Pacific Index dropped 2.1% to 131.75. Japan Nikkei slid 1.5%. S Korea Kospi retreated 2.6%. China Shanghai Composite Index slipped 2.9%, while Hong Kong Hang Seng Index declined 2.1%.
 
2. China Manufacturing Sector Growth Eases to 10-Month Low
The HSBC May flash manufacturing purchasing manages' index fell to 51.1 from 51.8 in April, as expansion in both new orders and production slowed.
 
3.  Toyota to Set up Social Networking Service
The Japanese automaker will invest US$5.5 million with Microsoft and Salesforce.com to launch Toyota Friend, a private social network for Toyota owners that works similar to tweets on Twitter.
 
4. Philippines 2012 GDP Target Easier to Meet
The Economic Planning Minister said the country will find it easier to meet the target that aims to grow 7% to 8%. He also said the economy likely expanded 4.8% to 5.8% in Q1. 
 
5. Singapore Consumer Prices Rise 4.5% in Apr
This was the first time the gauge was below 5% this year. Consumer prices climbed 0.3% from the previous month. Core inflation was 2.2% in Apr from a year earlier.
 
6. Moody's: Japan Recession is Negative for Rating
The rating agency warned that a bigger-than-expected decline in Q1 economic growth is negative for its credit rating. The nation posted a deep 0.9% contraction in Jan-Mar period.
 
7. ADB to Spend US$60M in 3 Climate Funds
The Asia Development Bank will invest US$20 million each into 3 venture capitals, helping developing climate change technology in China and India. It aims to raise US$700 million for 3 funds.
 
8. Thailand Q1 GDP Jumps 2%
The quarter-on-quarter growth rate was up from a revised 1.3% in Q4. On an annual basis, the economy expanded 3%, compared with a 3.8% drop in the previous quarter, which was higher than expected. 
 
9. Militants Storm Pakistan Naval Air Base
Up to 20 Taliban gunmen attacked a major naval air base in Pakistan, destroying two US-made surveillance aircraft and killing 13 personnel. It was the worst assault since Oct 2009.
 
10. Gunmen Seize Boat and 8 Filipino Crewmen
Police said 4 gunmen forced the boat's skipper and his crew to return in southern Zamboanga Sibugay province. The gunmen fled after receiving a ransom. They are being hunted by police and navy personnel.