Tokyo  Nikkei 10005.90  +1.17%
Seoul   KOSPI  2154.95  +1.16%
Shanghai SSEC  2794.21  -0.10%
Hong Kong HSI 22003.69  +0.46%
Singapore STI  3126.53  +0.98%
Mumbai    BSE 18502.38  -0.81%
Sydney   AORD  4618.40  +1.74% 
   
1. OPTI Canada Agrees to be Acquired by CNOOC for US$2.1B
China’s biggest offshore oil explorer will buy OPTI and its second lien notes. CNOOC will pay US$34M to the shareholders of OPTI and also assume US$825M first lien notes.  
 
2. Asian Stocks Jump on Possible US Deficit Plan
The MSCI Asia Pacific Index rose 1.2 %, on optimism U.S. lawmakers will reach an agreement to cut the budget deficit. Japan's Nikkei 225 Stock Average climbed 1.2%. Hong Kong's Hang Seng index gained 0.5%.  
 
3. LG Chem Q2 Profit Falls 3.3%
S Korea's largest chemical maker posted a net income of US$590M in the 3 months ended June, which was slightly less than expected. Sales jumped 13% to US$5.39B.
 
4. India Plans US$10B Sovereign Funds
A government official said the money will come from its foreign exchange reserve and the fund will buy overseas energy assets. The country currently holds US$282 billion in foreign currency assets.
 
5. PTT to Spend US$33.5B for Expansion
The largest company in Thailand said the investment will be spent between 2012 and 2016 to expand its domestic and oversea markets. Its listed subsidiary PTTEP will use 40% of the fund. 
 
6. China Leading Indicator Rises 0.5% in May
The preliminary index jumped to 155. Apr's gauge was revised to a 0.1% gain from a previous 0.2% increase. The reading is to indicate the prospects over the next 6 months.
 
7. Samsung Launches New Tablet
The Galaxy Tab 10.1 inch is a thinner and lighter version of the 7-inch model introduced in October. Priced from US$500 onwards in the U.S. market, analysts are expecting sales of 7.5 million units for the Galaxy Tab over 2011. 
 
8. Wipro Q1 Profit Jumps 1.2%
Net income of the Indian software service provider climbed to US$299M as revenue rose 18% to US$1.92B. The company raised its earning forecast for FY2011, while keeping the revenue forecast unchanged. 
 
9. Thailand Chopper Crashes on Mission
The rescuers were searching for an army helicopter with 9 people aboard. It went missing during a mission to retrieve 5 bodies from a previous helicopter accident on Saturday. 
 
10. Taiwan Boosts Profile of HK, Macau Offices
Taiwan's government office in Hong Kong and Macau, formerly known as the Chung Hwa Travel Service and the Taipei Trade and Tourism Office respectively, were renamed to the Taipei Economic and Cultural Office, signaling the warming ties between Taiwan and mainland China.