Tokyo  Nikkei  9648.98  +0.74%
Seoul   KOSPI  2062.91  -0.36%
Shanghai SSEC  2759.20  +0.04%
Hong Kong HSI 22061.78  +0.09%
Singapore STI  3050.79  +0.08%
Mumbai    BSE 18492.45  +0.43%
Sydney   AORD  4523.20  +0.21% 
    
1. Japan Retail Sales Drop 1.3% on Year
The May sales were lower than expected and the 4.8% decline recorded in Apr. Total sales slid for a 3rd month in a row, which was largely driven by a 24.4% decline in motor vehicle trade.
 
2. S Korea to Resume Imports of Canadian Beef
The country imposed the prohibition after mad cow disease was discovered in a Canadian cow in 2003. Before the ban, S Korea was Canada's 4th largest beef export market, accounting for US$43 million in sales in 2002. 
 
3. Thailand Manufacturing Output Declines for 4th Month
The May industrial production fell 3.88% from a year earlier, compared with a revised 8.14% drop in Apr. Auto output plunged 32.5% in May due to the Mar quake in Japan. 
 
4. China Stocks Rise for 6th Day
The Shanghai Composite Index added 0.97 point to 2,759.20, the highest close since May 24 on speculation that peaking inflation will curb the need for interest rate hikes. The 6-day rally is the longest since the period ended Feb 17.
 
5. S Korea Current Account Surplus Expands to US$2.26B
The surplus in May rose to a 7-month high from a revised US$1.28B in Apr. The trade surplus in goods dropped to US$1.71B from a revised US$3.33B in the previous month. The service account posted a surplus of US$15.5M.
 
6. Tiger, GIC Invests in HK IPO
Sun Art Retail plans to raise as much as US$1.1B in its Hong Kong initial public offering. Government of Singapore Investment and Tiger Global Management agreed to invest US$40 million each. 
 
7. Malaysia Said to Set Price Guidance for US$2B Bond Sales
The guidance was set at to yield 1.8 percentage points more than similar-maturity Treasuries. The nation plans to sell as much as US$2 billion of Islamic sovereign bonds in its biggest dollar-denominated offering.
 
8. India to Tolerate 6.5% Inflation
Finance Ministry of the nation believes the economy could handle inflation up to that level. India's annualized inflation climbed to a higher-than-expected 9.06% in May.
 
9. Radioactive Water Leaks from TEPCO Plant
15 tons of water with a low level of radiation leaked from a storage tank at the quake-stricken Fukushima nuclear plant in Japan. The operator was still investigating the cause of the leak. 
 
10. N Korea Slashes Food Rations
The head of a Swiss government aid office in Pyongyang said food rations have been cut to as low as low as 5.3 ounces a day per person in some parts of the country, as foreign donations collapse and higher international prices make imports more expensive.