Tokyo  Nikkei  9972.46  +0.07%
Seoul   KOSPI  2161.75  +0.77%
Shanghai SSEC  2816.35  +0.13%
Hong Kong HSI 22747.95  -0.10%
Singapore STI  3129.69  -0.75%
Mumbai    BSE 18744.56  -0.37%
Sydney   AORD  4656.90  -0.29% 
    
1. Japan Approves US$24B Extra Budget
This was the 2nd special budget to finance relief after a record quake in Mar. The government will set aside US$9.6B for reconstruction and US$3.3B to tackle the Fukushima nuclear crisis.
 
2. China Stocks Reach 6-Week High
The Shanghai Composite Index added 3.5 to close at 2,816.35, after Premier Wen Jiabao said inflation will be controlled and service industries expanded at the 2nd fastest pace this year. 
 
3. Hana's US$4.3B KEB Deal to be Extended to Dec
The S Korean financial group asked Lone Star to delay the completion date for purchasing the controlling stake in Korea Exchange Bank by 6 months, as it seeks government approval for the deal.
 
4. Indonesia Raises 2012 Economic Forecast to 7%
The country previously expected the economy to grow between 6.5% to 6.9% next year. It also forecast its budget to reach as much as 1.9% of gross domestic product.
 
5. Nippon Life to Invest US$724M in Allianz's Unit
Japan's biggest life insurer will buy bonds issued by the Allianz's unit that has the rights to be converted into equities of Allianz.
 
6. GM's China JV Sales Gain 27.5% in H1
The car venture in Shanghai sold 612,072 vehicles in the first 6 months of the year, which included 12,067 exported vehicles. Shanghai GM sold 104,472 cars in June.
 
7. Philippine Inflation Climbs to Highest in 26 Months
Consumer prices rose 5.2% in June from a year earlier, the largest increase since Apr 2009. Housing, fuel, electricity and water prices jumped 5.8% in June gaining 5% in May.
 
8. Malaysia Identifies 33 State-linked Firms for Divestment
The government plans to cut its stakes in 5 state-owned firms, list 7 others and sell 21 outright. Foreign equity and employment restrictions will also be gradually removed in service industries.
 
9. China Metro Accident Causes 1 Dead 28 Injured
The incident took place shortly after 9:30am at a Beijing subway station. Xinhua news agency reported some people on the escalator at the Zoo Station fell after a "malfunction". The caused is still under investigation.
 
10. Suu Kyi Makes Visit outside Rangoon
The Burmese pro-Democracy leader is making her first visit outside the main city with one of his sons since her release from house arrest last year. Aung San Suu Kyi is, in theory, allowed to travel freely, but the government has warned of riots if she tries to rally public support.