Tokyo  Nikkei  9562.05  +1.48%
Seoul   KOSPI  2091.91  +2.75%
Shanghai SSEC  2736.53  -0.19%
Hong Kong HSI 22900.79  +0.67%
Singapore STI  3123.70  +0.16%
Mumbai    BSE 18044.64  +1.11%
Sydney   AORD  4735.10  +1.58% 
   
 
1. Ricoh to Cut 10,000 Jobs
The Japanese office-equipment maker plans to reduce about 10% of its workforce and consolidate factories by fiscal year 2014, hoping to post a US$2.57 billion of operating profit in fiscal year 2014. 
 
2. S Korea Firm Wins US$7.25B Iraq Deal
Hanwha Engineering and Construction has signed a preliminary agreement to build a new town in a 1,830 hectare site, terming it the biggest-ever single deal for a Korean builder overseas.
 
3. Asia Stocks Rebound following Wall Street Rally
Higher oil prices revived investor interest in commodity companies while corporate announcements in Japan helped investors shake off worries. Nikkei 225 jumped 1.5% and S Korea's Kospi climbed 2.8%.
 
4. Sony Forecasts US$975M Profit for Current Fiscal Year
The Japanese giant predicted a net loss of US$3.17 billion in the fiscal year 2011 on a tax-credit write-off. It expects the operating profit for fiscal year 2012 to be US$2.44 billion, level with last year.
 
5. Chaoda Shares Slump Most in 8 Years
The Hong Kong-based agricultural products manufacturer slid as much as 25%, the biggest drop since March 25, 2003, to US$0.446, after a report said the company exaggerated the amount of land it controls in China. The company had denied the report.
 
6. Singapore Industrial Production Drops 9.5% on Year
The growth in Apr was down from a revised 26.3% gain in Mar. It was the first decline since Nov 2009. The nation's industrial output fell a seasonally adjusted 16.3% in Apr from March.
 
7. Tata Steel Swings into Full Year Profit
The Indian giant posted a consolidated net profit of US$2 billion for FY11, compared with a net loss of US$447.3 million a year earlier. The earning included a one-time gain of US$561 million in asset sales.
 
8. S Korea Consumer Confidence Climbs to 3-month High
The index gained to 104 in May from 100 in April. The expected inflation rate over the next year fell to 3.9% from 4%. A sub-index measuring consumers' views of the economic outlook jumped to 91 in May from 81 in Apr.
 
9. Explosions in China Kill 2
Three Explosions, including car bombs, occurred within a half-hour outside three government buildings in southern Fuzhou city, killing 2 people and wounding at least 6 others. 
 
10. 10 Dead in Small Plane Crash in India
A small chartered plane being used as an air ambulance to ferry a patient to a New Delhi hospital crashed into a residential neighborhood on the outskirts of the Indian capital.