Tokyo  Nikkei  8797.78  +0.29%
Seoul   KOSPI  1778.95  +0.81%
Shanghai SSEC  2612.19  -0.12%
Hong Kong HSI 19582.88  -0.86%
Singapore STI  2748.18  -0.63%
Mumbai    BSE 15848.83  -1.84%
Sydney   AORD  4271.00  -0.22% 
   
1. Asian Stocks Unsteady ahead of Bernanke Speech
Japan's Nikkei 225 index edged up 0.3% before the US Federal Reserve Chairman makes speech in Jackson Hole. Hong Kong's Hang Seng dropped 1%. China's Shanghai Composite Index fell 0.1% while S Korea's Kospi gained 1%. 
 
2. China Invests US$199B for Urban Rail through 2015
The official China Securities Journal reported that local governments would finance 35% of the money and the rest would come from commercial banks, China Development Bank and other channels. 
 
3. Posco Cuts Steel Prices by as much as 2.7%
The S Korean steelmaker will reduce domestic prices of the alloy used mostly in buildings by US$92 a ton to US$3,312 in Sep from this month, following a decline in the cost of nickel.  
 
4. Singapore July Industry Output Rises 7.4%
The annual increase was down from a revised 10.7% gain in the previous month. On a monthly basis, July's seasonally adjusted advance is 0.3%, compared with a revised 1.9% increase in June.
 
5. China Southern Airline H1 Net Climbs 33%
Profit of the largest carrier in Asia was US$432 million. Air China's profit fell 12% to US$635 million on a smaller contribution, US$212 million, from its stake in Cathay Pacific. Both result were in line with expectation. 
 
6. Japan CPI Increases 0.1%
The annual increase of core consumer prices excluding fresh food was higher than expected in July, but preliminary CPI for the Tokyo area fell 0.2% in Aug, signaling the deflation risk of the country.
 
7. S Korea Banks Q2 Average Capital Adequacy Ratio Up
The ratio increased by 2 basis points at the end of June, up from 14.34% at the end of Mar. The banks' average Tier 1 capital ratio climbed 31 basis points to 11.59% at the end of June. 
 
8. Thailand Manufacturing Unexpectedly Falls 1.1% on Year
The July gauge was worse than expected and a revised 3.8% increase in June. The slowdown was due to the faltering recoveries in US and Europe.
 
9. Japan PM Resigns amid Public Dismay
Prime Minister Naoto Kan announced he was resigning after almost 15 months in office amid plunging approval ratings over his government's handling of the tsunami disaster and nuclear crisis. 
 
10. Taiwan Court Overturns Former Leader's Conviction
The High Court has overturned the conviction of former President Chen Shui-bian on charges of embezzling $3.15 million state fund. The move is not expected to impact the 17-year sentence he is serving on more serious charges..