Japan's Topix Index Falls, Led by Sompo, Insurers; Trading Companies Gain

(Bloomberg) -- Japan's Topix index declined, paced
by insurers after companies such as Sompo Japan Insurance Inc.
and Mitsui Sumitomo Insurance Co. reported their profits fell.

Limiting losses, Japan Tobacco Inc., the world's third-
largest traded cigarette maker, jumped the most in five months
after Merrill Lynch & Co. raised its recommendation on the stock.
Itochu Corp. climbed 4.1 percent after Mizuho Securities Co.
lifted its recommendation on Japan's five largest trading houses.


Read more at Bloomberg Stocks News

Shanghai Copper Rises as Global Stockpiles Fall; Talk of Strike in Peru

(Bloomberg) -- Shanghai copper prices gained for the
first day in three following a drop in global stockpiles of the
metal to their lowest in more than six months and amid
speculation about disruptions to supplies from South America.

Inventories of copper monitored by the London Metal Exchange
dropped by 0.6 percent to 137,575 metric tons, the lowest since
Nov. 1, the exchange said yesterday. Still, Shanghai stockpiles
have risen to their highest in three years as imports surged this
year and domestic output reached a record in April.


Read more at Bloomberg Commodities News

China Needs Bigger Rate Increases, Too Late to Use Yuan as Tool, CLSA Says

(Bloomberg) -- China needs to ``shock'' the economy
with more interest rate increases because it's too late to use a
stronger yuan to cool growth, said Jim Walker, chief economist
at CLSA Asia-Pacific Markets.

The Chinese government is too concerned about derailing
export growth as the U.S. economy slows to let the yuan rise
faster, Hong Kong-based Walker said. Higher borrowing costs
would prevent the flood of cheap credit from spurring a stock-
market bubble and excessive investment.


Read more at Bloomberg Emerging Markets News

China shares slip after Greenspan bubble warning

(Reuters) - Greenspan told a teleconference in Madrid on Wednesday that China's equities bull run, which has more than tripled the index since the start of last year, could not last. The warning hurt stock markets in New York and Asia.




Analysts in Shanghai said Greenspan's comments helped to spur selling in the Chinese market on Thursday because some local investors were increasingly worried about a bubble.


Read more at Reuters.com Hot Stocks News

UPDATE 3-U.S. FDA to monitor toothpaste from China

(Reuters) - WASHINGTON, May 23 - U.S. health officials are
beginning to check all shipments of toothpaste coming from
China, following reports of tainted products in other
countries, a government spokesman said on Wednesday.




The Food and Drug Administration has no evidence that
contaminated toothpaste has made its way into the United States
but is taking the step as a precaution, agency spokesman Doug
Arbesfeld said.


Read more at Reuters.com Government Filings News

China Stocks Advance, Led by China Vanke, Shanghai Development Bank

(Bloomberg) -- China's benchmark stock index, the CSI
300 Index, rose 0.35 percent at 9:35 a.m.

The index of 298 companies traded on the Shanghai Stock
Exchange rose 13.61 to 3,952.55. Among the stocks in the index,
146 rose, 118 fell and 34 were unchanged.


Read more at Bloomberg Stocks News

Koch Industries Unit Restarts Cumene Production at Corpus Christi Refinery

(Bloomberg) -- A Koch Industries Inc. unit is
restarting production of the chemical cumene at its refinery in
Corpus Christi, Texas.

Flint Hills Resources LP reported the restart of the cumene
unit to Texas environmental regulators, after production was
halted for routine maintenance May 11. Cumene is an aromatic
hydrocarbon used to make substances including acetone, aspirin
and penicillin and is used as a paint thinner.


Read more at Bloomberg Energy News