China, India, Singapore, Taiwan, the Philippines: Asia Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian local-currency bonds
today. Yields are from the previous session.

China: The economy will grow 10.4 percent next year, the
Organization for Economic Co-operation and Development said in
its semi-annual outlook released May 24. That's less than the
10.7 percent the Paris-based group forecast six months ago.
Growth this year is predicted to be 10.4 percent, compared with
an earlier forecast of 10.3 percent.


Read more at Bloomberg Bonds News

South Korea Shares Gain, Led by Shinhan Financial, Posco and S.K. Corp.

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, rose 0.37 percent at 9:05 a.m.

The index of 732 companies traded on the Korea Exchange rose
6.01 to 1,650.57. Among the stocks in the index, 471 rose, 168
fell and 92 were unchanged.


Read more at Bloomberg Stocks News

Asian Stocks Rise in U.S. Trading, led by BHP Billiton, Commodity Shares

(Bloomberg) -- Asian stocks rose in U.S. trading as
price increases in oil, gold and other metals lifted commodity
shares including BHP Billiton.

The Bank of New York Co.'s Asia ADR Index, tracking the
region's American depositary receipts, gained 0.6 percent to
162.19. For the week, it added 0.3 percent.


Read more at Bloomberg Stocks News

Crude Oil Falls on Speculation Rising U.S. Gasoline Output Will Cut Prices

(Bloomberg) -- Crude oil fell in New York on
speculation U.S. fuel prices may ease as refiners increase output
to meet summer demand.

U.S. gasoline production rose to its highest since December
in the week ended May 18, increasing inventories for a third week.
Stockpiles that week were 7 percent below the five-year average
on May 18, according to Energy Department data. Oil workers in
Nigeria ended a two-day strike after the government agreed new
pay and benefits, Reuters reported May 26.


Read more at Bloomberg Energy News

WEEKAHEAD-Emerging debt cautious on China, U.S. Treasuries

(Reuters) - Investors in riskier emerging market stocks and bonds were
unnerved by comments last week by former Federal Reserve
Chairman Alan Greenspan who suggested Chinese stocks were
overvalued.




In addition, the rise in U.S. Treasury bond yields in the
past week has attracted some investment flows out of emerging
debt markets.


Read more at Reuters.com Bonds News

Coke in talks to buy Highland Spring: UK papers

(Reuters) - A spokeswoman for Highland Spring declined to comment. Coke could not be immediately reached.




Coke's foray into the British water market three years ago failed after samples of its Dasani bottled water showed it was little more than filtered tap water. Coke withdrew the product from British shops.


Read more at Reuters.com Mergers News

Algeria says HSBC wins permit to start local bank

(Reuters) - Algeria's central bank has decided to permit HSBC, Europe's largest bank, to set up an Algerian bank, state-owned newspaper El Moudjahid reported on Sunday.

A central bank statement reprinted by the newspaper said: "The bank's money and credit committee, after deliberations, has decided to permit the establishment of the HSBC Algerie bank."


Read more at Reuters Africa