Asian Oil Product Tanker Rates Set for Fourth Week of Gains on Ship Supply

(Bloomberg) -- The cost of hiring tankers to ship gasoline, diesel and other so-called clean petroleum products on Asian routes is set for a fourth weekly gain as demand for ships in the Atlantic draws vessels away from the Far East.

This week, four fixtures were made to ship a total of 148,000 tons of oil products to the U.S. Atlantic Coast from Europe, according to Bloomberg data. Exports have increased this year as U.S. gasoline demand outstripped supply. Gasoline supplies in the week ended May 4 were 8 percent below the five- year average, the U.S. Energy Department said yesterday.


Read more at Bloomberg Energy News

Gold off 1-month low, Tokyo futures rebound

(Reuters) - Gold rebounded from lows on Friday on the back of physical buying in Asia but investors remained nervous because of a firm U.S. dollar and after a sharp drop the previous day.

"There's some physical buying in the Asian region. The market has dropped so much and it attracts some buying interest," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.


Read more at Reuters Africa

Benq's K.Y. Lee, Mired in Graft Probe, Must Reduce Costs, Investors Say

(Bloomberg) -- Benq Corp., a Taiwanese electronics company whose chairman faces insider-trading charges, must cut costs and bolster profits to revive its stock price from a decade low, fund manager Hiroki Lu said.

Shares of Benq have tumbled 30 percent this year, dragged down by a two-month investigation that resulted in the indictment of Chairman K.Y. Lee and four executives this week, and losses from its acquisition of Siemens AG's handset unit. Lee has denied the charges and won't step down, Taoyuan-based Benq said.


Read more at Bloomberg Emerging Markets News

Chicago Corn, Wheat Little Changed Ahead of U.S. Supply and Demand Report

(Bloomberg) -- Chicago corn was little changed ahead of a government supply and demand report after falling to a five- week low as U.S. planting accelerated and exporters sold less grain. Wheat and soybean futures were also little changed.

The U.S. Department of Agriculture is to release its monthly report for world markets and trade for grains, livestock and poultry, oilseeds and cotton at 9:30 a.m. in Washington today. The government will also issue world agricultural production data.


Read more at Bloomberg Commodities News

TREASURIES-Inch up in Asia as equity markets slide

(Reuters) - "Equities are driving us, no question," said Adam Mackillop, head of U.S. rates trading at Barclays Capital in Tokyo. "Technically, you're coming into the part of the year that is poor for equities, and you're in overbought territory."

The market shrugged off comments by former Federal Reserve Chairman Alan Greenspan that the U.S. economy faced a one-third chance of falling into recession, reiterating comments he made in March. Greenspan spoke via satellite to a Merrill Lynch event in Singapore.


Read more at Reuters.com Bonds News

Singapore's Chemoil Q1 profit up 25 pct

(Reuters) - Chemoil was listed on the Singapore Exchange in December, raising $81 million in its initial public offering.




Read more at Reuters.com Market News

Fitch Says North Korea Nuclear Issue Is a Constraint on South Korea Rating

(Bloomberg) -- South Korea's credit rating isn't likely to be raised until there is a solution to the North Korean nuclear issue, a Fitch Ratings analyst said.

``It's difficult for South Korea's rating to move in absence of a long-term solution to the North Korea nuclear issue,'' James McCormack, head of Fitch's Asian sovereign ratings, said in an interview in Seoul today. ``We're pretty comfortable with the rating we've got'' on South Korea.


Read more at Bloomberg Emerging Markets News