European Government Bonds Advance as Asian Stocks Slide on Subprime Losses

(Bloomberg) -- European government bonds rose for a
second day as Asian stocks slid on concern U.S. subprime mortgage
losses will slow economic growth and drive up global financing
costs.

Gains in bunds pushed benchmark 10-year yields to near the
lowest since May as investors sold riskier assets and sought the
relative safety of government debt. Bear Stearns Cos. ousted Co-
President Warren Spector after credit-market losses and eroding
investor confidence.


Read more at Bloomberg Bonds News

Arrow Energy Signs Agreements to Develop Coal Seam Gas Ventures in China

(Bloomberg) -- Arrow Energy NL, an Australian
producer of gas from coal seams, signed two venture agreements
with companies in China's Liaoning province as it seeks to start
production of the fuel in the Asian nation.

The accords with Shenyang Gas Co. and Liaohe Petroleum
Development Co., a unit of China National Petroleum Corp., follow
similar agreements signed over the past weeks, Brisbane-based
Arrow said today in a statement to the Australian Stock Exchange.
Arrow now has seven projects in three geographic regions in the
Asian nation, it said.


Read more at Bloomberg Energy News

Gold Little Changed in Asia as Dollar Weakness Boosts Appeal; Silver Rises

(Bloomberg) -- Gold in Asia was little changed near a
one-week high, supported by investors demand for the precious
metal as an alternative asset after the dollar weakened on signs
the U.S. economy might slow. Silver rose.

Gold usually moves in the opposite direction to the dollar,
which fell to a four-month low against the Japanese yen and also
traded near a record low against the euro today. Speculation that
a slowing U.S. economy may keep the Federal Reserve from raising
interest rates also weakened the dollar and boosted the appeal of
the precious metal as alternative investment.


Read more at Bloomberg Commodities News

Carry Trade a `Threat' to Markets, Yen Too Weak, South Korea's Kwon Says

(Bloomberg) -- South Korea's Finance Minister Kwon
Okyu said the yen's weakness isn't justified and that carry
trades based on the Japanese currency threaten to destabilize
global markets.

Borrowing cheaply in Japan to buy assets with higher
returns is ``a potential threat to the international financial
markets and there is a need for a global reaction,'' Kwon said
in a statement after a meeting of Asia Pacific Economic
Cooperation finance ministers in Coolum, Australia.


Read more at Bloomberg Emerging Markets News

Copper Rises in Asia Trade on Mexican Labor Unrest; Zinc, Aluminum Advance

(Bloomberg) -- Copper futures in Asia rose after
workers at Southern Copper Corp., the world's fifth-largest
producer of the metal, began a strike at three of the company's
Mexican mines to demand wage increases.

Employees stopped work at Cananea, Mexico's largest copper
mine, and the Taxco and San Martin zinc mines, National Mining
and Metal Workers Union spokeswoman Carmen Romero said yesterday.


Read more at Bloomberg Commodities News

South Korean Manufacturers' Confidence Rises For First Time in Four Months

(Bloomberg) -- Confidence among South Korean
manufacturers for August increased for the first time in four
months, suggesting companies may ramp up production and spur
growth in Asia's third-largest economy.

An index of manufacturers' expectations for August rose to
89 from 86 for July, according to a poll of 2,929 companies
released by the Bank of Korea in Seoul today. The index began
in January 2003 and has always had a reading of less than 100,
indicating pessimists outnumber optimists.


Read more at Bloomberg Emerging Markets News

Japanese Yen, Indonesian Rupiah, Thailand's Baht: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

Bobcat to stay on in North Dakota-governor

(Reuters) - Earlier, the state's U.S. senators, Democrats Byron Dorgan
and Kent Conrad, said they would meet with representatives of
Doosan next week.




Dorgan said in a statement he was "concerned about the risk
of U.S. manufacturing being moved to low-wage manufacturing
facilities in Asian countries."


Read more at Reuters.com Bonds News

Asia shares trim falls on solid earnings

(Reuters) - Asian markets opened sharply weaker and the yen gained after the S&P 500 index suffered its worst week in nearly five years on worries that tighter credit would cause takeover activity to slow.




With earnings season in full swing, there were a raft of positive results to support the market, from firms such as Fujifilm Holdings and Fanuc Ltd. .


Read more at Reuters.com Hot Stocks News

U.S. Treasuries Decline as Rebound in Global Stocks Dims Allure of Debt

(Bloomberg) -- U.S. 10-year Treasuries fell for the
first time in a week as a rebound in global stock markets reduced
the appeal of fixed-income securities.

Treasuries declined as Asian shares rebounded from a slump
after higher profits at Japanese companies helped ease concerns a
U.S. housing slowdown would crimp the economy. U.S. notes snapped
four days of gains that had been driven by investors seeking the
relative safety of government debt as equity markets dropped.


Read more at Bloomberg Bonds News

Metals steady as credit risks balance strike action

(Reuters) - Copper steadied on Friday as fears of credit risk in global markets were balanced by industrial action in the world's top copper producer.

Asian shares lost ground, tracking overnight losses in Wall Street as fears grew that a U.S. housing fallout might trigger a global credit crunch.


Read more at Reuters Africa

Platinum Futures Drop in Tokyo Trading as Stock Rout Cuts Risk Appetite

(Bloomberg) -- Platinum futures fell in Tokyo for a
fifth day as a rout in global equities and declines in prices for
other commodities dulled investors' demand for risk.

Asian stocks fell the most in four months on concern a
worsening U.S. housing recession would damp global growth. Copper
declined for a fourth session in New York, the longest slump in
more than a month, while crude oil had its biggest plunge in four
months yesterday.


Read more at Bloomberg Commodities News

Treasuries Rise as Slide in Global Stocks Spurs Investors to Reduce Risk

(Bloomberg) -- U.S. Treasuries rose for a fourth
day as investors sold stocks and corporate bonds and sought the
relative safety of government debt.

Ten-year securities headed for a third weekly gain as Asian
stock markets slid the most in four months, extending a rout in
global equities. Japan's Nikkei 225 Stock Average slumped 2.3
percent on speculation a worsening U.S. housing slump will slow
growth in the world's biggest economy.


Read more at Bloomberg Bonds News

Yen Strengthens as Slump in Stocks Spurs Investors to Exit of Carry Trades

(Bloomberg) -- The yen rose against all 16 of the
most-active currencies on speculation a slump in stocks will
spur investors to repay loans in Japan used to finance
investment in higher-yielding assets elsewhere.

Japan's currency rose to the strongest in three months
against the dollar and the highest in six weeks versus the euro
as futures traded yesterday in the U.S. indicated Asian stock
markets will drop. The yen's advance was steepest against the
Australian and New Zealand dollars, favorites of the so-called
carry trade, as the Standard & Poor's 500 Index closed yesterday
with a loss of 2.3 percent, the biggest decline since Feb. 27.


Read more at Bloomberg Currencies News

European Bonds Advance After Global Stocks Slump on U.S. Housing Concerns

(Bloomberg) -- European government bonds climbed,
pushing 10-year yields to the lowest in almost two months, after
stocks declined in the U.S. and Asia on concern a housing slump
is worsening.

Benchmark bonds rose for a second day after shares of U.S.
homebuilders sank to their lowest since 2003. A credit market
rout caused by defaults on U.S. subprime mortgages gives
``serious reasons to worry,'' without posing a systemic threat,
Moody's Investors Service said in a report.


Read more at Bloomberg Bonds News

UPDATE 1-GE sees 30-40 pct growth in emerging markets

(Reuters) - GE sold $30 billion in the emerging economies of China,
India, Southeast Asia, Middle East and Africa, and Latin
America last year.




"By 2010, we're estimating sales of $50 billion," said GE
International's chief executive, Ferdinando Beccalli-Falco.


Read more at Reuters.com Mergers News

Sri Lanka's Central Bank Keeps Key Rate Unchanged at Highest Level in Asia

(Bloomberg) -- Sri Lanka's central bank kept its
benchmark interest rate unchanged at the highest level in Asia
to help bring inflation below 10 percent.

The Central Bank of Sri Lanka maintained its repurchase
rate at 10.5 percent for a fifth straight meeting, the Colombo-
based bank said in a statement today. Ten out of 11 analysts in
a Bloomberg News survey predicted the decision. One expected a
25 basis point cut.


Read more at Bloomberg Emerging Markets News

BHP, Kia Motor, Korea Zinc, TMB Bank, Unicom: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. This preview includes news that
broke after markets closed. Prices are from the local market's last
close. Stock symbols are in parentheses after company names.

Ambuja Cements Ltd. (ACEM IN): India's fourth-biggest cement
maker, which is partly owned by Holcim Ltd., may say today profit
in the quarter ended June increased 32 percent to 4.01 billion
rupees ($99.3 million), the median profit estimate of seven
analysts surveyed by Bloomberg News. Ambuja Cements was unchanged
at 138.8 rupees.


Read more at Bloomberg Stocks News

Asia Fuel Oil Rises to Record Singapore Supplies Decline on Lower Imports

(Bloomberg) -- Asian benchmark fuel oil prices rose
to a record as inventories in Singapore, Asia's biggest
petroleum trading center, fell on concern about declining
imports in August from Europe and South America.

Benchmark 180-centistoke fuel oil for immediate delivery in
Singapore gained $14.25, or 3.7 percent, to $397.50 a metric ton,
according to Bloomberg data. The price of 380-centistoke fuel
oil, mainly used as marine fuel, rose $15.50, or 4.1 percent, to
$392 a ton. Dubai crude, an Asian benchmark, gained $1.96, or
2.9 percent, to $70.54 a barrel.


Read more at Bloomberg Energy News

Asian Oil-Product Shipping Rates Advance; Japan's Supplies May Limit Gains

(Bloomberg) -- Freight rates for shipping jet fuel
and other oil products on medium- to large-range tankers in Asia
were mostly higher as companies started booking vessels for
August. Larger product inventories in Japan may cap the gains.

The rate for shipping 30,000 tons of oil products to Japan
from Singapore rose a fourth day yesterday, adding 2.9 percent to
Worldscale 233.33, based on the London-based Baltic Exchange data.
That translates to $20.25 per ton of product shipped on the route,
according to Bloomberg data.


Read more at Bloomberg Energy News