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1. Samsung Q2 Operating Profit Falls
The S Korean electronic giant said operating profit in the 3 months ended June will drop to between US$3.32 billion and US$3.7 billion, down from US$4.84 billion a year earlier, as sales climbed slightly. 
 
2. Japan Machinery Orders Gain 3% in May
The month-on-month increase was the fastest pace in 4 months, signaling the capital expenditure could gather support. The gauge matched the forecast and compared with a 3.3% decline in Apr.
 
3. China May Cut US$232B Spending
The funding was previously allocated to 7 strategic industries in the next 5 years, but the government may scale back the amount on concerns of corruption and overcapacity.
 
4. S Korea Current Account Surplus Likely Widened in June
The government expects the surplus expanded from May on an increase in the trade surplus. It reached a 7-month high of US$2.26B in May. 
 
5. Temasek Asset Hits US$157B
Singapore's state-owned investment vehicle said its asset gained 3.8% in the year to Mar 31. The fund's net profit for the fiscal year jumped to US$10.6 billion from US$4.1 billion. 
 
6. Taiwan Exports Climb 10.8% on Year
The June shipment jumped to US$25.17B, but it was less than expected and compared with a 9.5% advance in May. Imports gained 12.5% for a trade surplus of US$1.38 billion.
 
7. Thailand Tourism Arrivals See 16% Gain in 2011
The government expects the arrivals to be as much as 18.3 million this year. Revenue may climb to US$23.1 billion, compared with US$19.3 billion last year. The number of tourists may hit 19.5 million next year.
 
8. Pertamina Plans to Buy 51% Stake in Mahakam Block
Indonesia's state-owned oil company will take over the shares in 2017, when the contract of its current operator expires. The block produced 2.48 million cubic feet of gas and 93,000 barrels of oil a day in 2010.
 
9. China Dismisses Reports of Jiang's Death
State media Xinhua News Agency quoted what it called authoritative sources as saying that the reports were "pure rumor". A Hong Kong TV station had reported that retired President Jiang had died on Wednesday.
 
10. India Train Hits Bus, Killing 33
A train slammed into a packed bus at a railway crossing in a remote northern area of Kanshiram Nagar district, killing at least 33 people and injuring 24. The bus stopped at the crossing because of a broken wheel axle.