Malaysian Palm Oil Futures Open Interest Climbs to Record as Trade Surges

(Bloomberg) -- The number of outstanding palm oil
futures contracts on the Malaysia Derivatives Exchange reached a
record last week after trading volume in the world's most-traded
vegetable oil climbed to a new high.

Open interest, or contracts that have not been closed, on
the Bursa Malaysia Derivatives Exchange Bhd. totaled 101,536
contracts of 25 metric tons each on June 8, and 101,525 units on
June 11, the exchange said in a faxed statement.


Read more at Bloomberg Commodities News

Chalco Stock Surges on Speculation It Will Buy Assets From Baotou Aluminum

(Bloomberg) -- Aluminum Corp. of China Ltd., China's
largest maker of the lightweight metal, plans talks with Baotou
Aluminum Co. to ``restructure'' the company, which is also
majority owned by its parent. The stock gained.

The planned negotiations may involve Aluminum Corp. of China,
the parent, the Beijing-based company, also known as Chalco, said
in a statement today. Chalco said in March it planned to buy
aluminum assets, including Baotou's, from Aluminum Corp. of China.


Read more at Bloomberg Emerging Markets News

JGB 30-year yield jumps to 10-month high

(Reuters) - The benchmark 10-year yield rose 6 basis points to 1.985
percent , its highest level since July.




Read more at Reuters.com Bonds News

Pfizer to Spend $300 Million on R&D in South Korea by 2012, Ministry Says

(Bloomberg) -- Pfizer Inc., the world's biggest
drugmaker, will spend $300 million on research and development in
South Korea in what the government says is the largest such
investment by a foreign entity.

Pfizer Chairman Jeffrey Kindler signed an initial agreement
with South Korea's Ministry of Health and Welfare to cooperate in
the development of drugs and medical technology, the ministry
said today in an e-mailed statement.


Read more at Bloomberg Emerging Markets News

Japanese Shares Drop, Led by Toyota, As Bond Yields Spur Growth Concern

(Bloomberg) -- Japan's Topix index dropped, paced
by property developers and utility companies, after rising bond
yields increased speculation higher borrowing costs will erode
profit growth and reduce the appeal of dividend payouts.

Property developers that borrow heavily including K.K.
DaVinci Advisors, and Tokyo Electric Power Co. which had a
dividend payout that is higher than other companies, dropped.


Read more at Bloomberg Stocks News

U.S. Stocks Fall on Concern Higher Rates Will Hurt Profits, Takeovers

(Bloomberg) -- U.S. stocks fell after the bear
market in bonds pushed yields to a five-year high and increased
concern that the pace of takeovers may have peaked along with
corporate profits.

AT&T Inc., JPMorgan Chase & Co. and Wal-Mart Stores Inc. led
the Standard & Poor's 500 Index and Dow Jones Industrial Average
to their first decline in three days. All 14 real-estate
companies in the S&P 500 and every homebuilder retreated on
speculation higher yields foreshadow slower economic growth.


Read more at Bloomberg Stocks News

Crude Oil Falls on Speculation U.S. Gasoline Stockpiles Will Increase

(Bloomberg) -- Crude oil fell in New York on
speculation U.S. gasoline stockpiles rose a sixth week as
refiners increased output.

An Energy Department report today will probably show
refiners added 1.5 million barrels of fuel to the nation's below-
average gasoline inventories, according to a Bloomberg News
survey of 16 analysts. Supplies rose to 201.5 million barrels on
June 1, narrowing the deficit against the five-year average to
5.3 percent, from as much as 8 percent on May 4.


Read more at Bloomberg Commodities News