Tokyo  Nikkei  9504.97  -0.18%
Seoul   KOSPI  2093.79  -0.31%
Shanghai SSEC  2706.36  -0.13%
Hong Kong HSI 23184.32  +0.26%
Singapore STI  3140.60  +0.16%
Mumbai    BSE 18232.06  -0.19%
Sydney   AORD  4746.10  -0.30% 
   
1. China Stocks Record Longest Losing Streak since Dec 2008
The Shanghai Composite Index dropped 0.1% in its 8th daily decline, on concerns interest rates will rise, a property tax may be expanded nationwide and power shortages will cut production capacity.
 
2. S-Oil to Purchase Polysilicon Maker for US$245M
S Korea’s 3rd biggest oil refiner will buy a 33.4% stake in Hankook Silicon to become its 2nd largest shareholder. The polysilicon maker planned to expand its annual capacity to 12,000 metric tons by 2012 from 3,500 currently. 
 
3. Samsonite Sets Price Range for US$1.5B HK IPO
The luggage maker will offer 671 million shares in the offering, with an indicative price range of US$1.74 to US$2.25 each. The firm is owned by CVC Capital and Royal Bank of Scotland.
 
4. Japan to Set US$617M Fund to Help Car Parts Makers
The Development Bank of Japan will launch the fund in June, asking major commercial banks for investment. Japan has 800 major auto parts manufacturers supplying interior equipment and parts to the nation's automakers. 
 
5. Petronas Raises Gas Prices to Power Producers by 28%
Malaysia's state-owned giant will charge power producers US$4.54 per million British thermal units. Gas prices for industries will be raised by 17.3% to US$5.96 per million British thermal units.
 
6. Philippines Q1 Economy Expands 4.9%
The annual growth was down from a 8.4% gain in the previous year due to lower trade and public spending. The government said it was still within the growth forecast of between 4.8% and 5.8%. 
 
7. STX Wins US$150M Order
The S Korean offshore and shipbuilding giant said it got a order to build 4 vessels to carry oil products. Its share price jumped 4.9% in the opening session on the Korea Exchange.
 
8. Adaro Gets US$750M Loan
Adaro Indonesia, a unit of the nation's 2nd largest coal maker, will use the funds from the 10-year loan for capital expenditure and potential acquisitions. The company hasn't decided how much of the funds will be used yet.
 
9. 70% Japan Voters Want a New PM
A survey showed that the voters want PM Naoto Kan to go as the opposition party may submit a no-confidence motion this week. Separately, 2 workers at the crippled Fukushima nuclear plant may have exceeded the government's radiation exposure limit.
 
10. China Orders Death Penalty in Deadly Food Scandals
The Supreme People's Court said judges across the country should impose longer and harsher sentences, including death penalty, longer jail time and larger fines, to people convicted of food safety violations.