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Shanghai SSEC  2730.05  +1.10%
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1. China May Consumer Price Jumps 5.5% to 34-Month High
The annual increase was up from 5.3% in Apr and the highest since Feb 2008, as food price climbed 11.7%. The country raised banks' reserve requirement ratio by 50 basis points to 21.5%.
 
2. Glencore's Profit Climbs 47% in Q1
Net income of the Swiss-based commodity trader posted a net income of US$1.3B last quarter. Sales were up 39% to US$44.2B. The firm has just listed in HK and London.
 
3. Japan Offers US$6B New Credit Line to Boost Growth
It will increase the country's lending facility to US$36B, which would encourage banks to lend to 18 industries with growth potential. It upgraded its assessment of the economy that showed some signs of picking up.
 
4. Daewoo Engineering Wins US$190M Order
The S Korea construction firm received the order from Malaysia's One IFC Residence to build a hotel in Kuala Lumpur. Construction of the 48-floor building will take 42 months to complete. 
 
5. PLDT Sets US$1.55B Expansion
Philippine Long Distance Telephone will spend the money in 2012 to expand its network. It also expects its core net income at around US$937M in 2011 and 2012 and forecasts a return to growth path by 2013.
 
6. Honda Profit to Fall 63.5%
The No.2 top automaker of Japan expected the net income for Mar 2012 to be US$2.4B, down from US$6.65B in FY11. Global sale for FY12 is expected to decrease by 6% to 3.3M vehicles.
 
7. Everbright Bank Seeks US$6B in HK's IPO
China's 9th biggest bank will sell 10.5B shares in the initial public offer and it will set the final price on July 8. The company raised US$2.8B in Shanghai IPO last Aug.
 
8. India Inflation Accelerates to 9.06% in May
The rise of wholesale price index in Apr was lower at 8.96%. The ministry also revised upwards the inflation rate for March to 9.86% from the provisional 9.04% reported earlier. 
 
9. Myanmar Army Fights with Militants, 7 Dead
Clashes have broken out between the army and northern ethnic rebels in a strategic region near the Chinese border, leaving 3 rebels and 4 soldiers dead.
 
10. Japan City Measures Radiation for 34,000 Children
Fukushima city said it will hand the radiation measuring devices to all children aged between 4 and 15 for 3 months from Sep, gauging their exposure from the crippled nuclear power plant.