Japan's Stocks Drop on U.S. Economy Concern, Stronger Yen; Sony Leads Fall

(Bloomberg) -- Japanese stocks declined, led by Canon
Inc. and Sony Corp., on concern losses in the U.S. mortgage
market may slow the world's biggest economy.

Exporters also fell after the yen strengthened to a four-
month high against the dollar, eroding the value of their dollar-
denominated sales.


Read more at Bloomberg Stocks News

Thailand Eases Exporter Currency Restrictions to Help Curb Baht Strength

(Bloomberg) -- Thailand's Cabinet agreed to scrap a
15-day deadline requiring exporters to convert foreign-exchange
earnings to the local currency to help curb strength in the baht.

Exporters and individuals can now hold foreign currencies
for as long as they want, the government said in a statement
distributed at a press conference. The government also extended
the time period in which Thai individuals and companies can hold
foreign-currency earnings offshore to 360 days from 120 days.


Read more at Bloomberg Currencies News

Japan Stocks May Drop on U.S. Earnings, Election Concern; Komatsu May Fall

(Bloomberg) -- Japanese shares may decline, paced by
companies that rely on the U.S. market, after Caterpillar Inc.
said its profit dropped on lower North American sales. Exporters
such as Honda Motor Co. and Komatsu Ltd. may fall.

Investors may also refrain from betting heavily on stocks
before the Upper House election, which will be held on July 29.
The Nikkei newspaper reported yesterday Japan's ruling coalition
may lose its majority in the election, citing its own poll.


Read more at Bloomberg Stocks News

Switzerland's June Trade Surplus Widens as Decline in Franc Fuels Exports

(Bloomberg) -- Switzerland's trade surplus widened
in June as a decline in the Swiss franc fueled exports of
machines, watches and metals.

The surplus was 1.72 billion Swiss francs ($1.43 billion),
up from 1.04 billion francs in May, the Federal Customs Office in
Bern said today. Economists expected a surplus of 1.15 billion
francs, according to the median of five forecasts in a Bloomberg
survey. Exports rose 1.5 percent from May when adjusted for
inflation and seasonal swings, and imports fell 5.3 percent.


Read more at Bloomberg Currencies News

OPEC Raises 2007 Forecast for Demand for Its Crude Oil as Norway Falters

(Bloomberg) -- OPEC raised its estimate of demand
for its crude oil this year because of lower-than-expected
supply from producers outside the group.

The Organization of Petroleum Exporting Countries raised
its estimate of demand for OPEC crude by 500,000 barrels a day
for the second quarter and increased third- and fourth-quarter
estimates by 100,000 barrels a day. Daily demand for OPEC crude
will average 30.7 million barrels in 2008, versus 30.8 million
in 2007, Vienna-based OPEC said in a monthly report today.


Read more at Bloomberg Energy News

OPEC says crude supply not to blame for oil price

(Reuters) - The Organization of the Petroleum Exporting Countries is ready to pump more, but for now sees no need and has rebuffed calls from consumer countries for extra oil to lower prices from $76 a barrel.




Oil has been on an upward march since January when it sank


Read more at Reuters.com Business News

Canadian Stocks May Decline on Home Depot Forecast, Higher Interest Rates

(Bloomberg) -- Canadian stocks may fall for the first
time in four days, after Home Depot Inc. said profit will fall and
the Bank of Canada raised borrowing costs, signs that a slowing
housing market, higher interest rates and a soaring Canadian dollar
may hurt earnings.

Exporters of raw-materials including First Quantum Minerals
Ltd. may decline after U.S. based Home Depot, the world's largest
home improvement retailer, said earnings will drop between 15
percent and 18 percent in the fiscal year through Feb. 3, more than
a previous forecast of a 9 percent decline.


Read more at Bloomberg Stocks News

Japanese Stocks Rise, Led by Toyota; Topix Gains the Most in Eight Weeks

(Bloomberg) -- Japanese stocks climbed, sending the
Topix index to its best performance in almost eight weeks.
Exporters led the advance after the Federal Reserve said the
housing slowdown won't keep the U.S. economy from expanding and
the yen weakened.

Toyota Motor Corp. advanced to a three-month high, while
Sony Corp. gained for the first time in five days.


Read more at Bloomberg Stocks News

Macarthur Coal to Restart Shipments From Queensland's Abbot Point Terminal

(Bloomberg) -- Macarthur Coal Ltd., which supplies a
fifth of world export demand for pulverized coal, said it will
restart shipments from the Abbot Point Coal Terminal in
Australia's Queensland state from July 1.

The company plans to export 560,000 metric tons of coal from
its Coppabella and Moorvale mines through Abbot Point in the year
ending March 31, Brisbane-based Macarthur Coal said today in a
statement to the Australian Stock Exchange. Exports have been
suspended since late 2006 while the port was expanded.


Read more at Bloomberg Commodities News

Japan's Stocks May Rise on U.S. Spending Jump, Lower Bond Yields, Weak Yen

(Bloomberg) -- Japanese stocks may rise after U.S.
retail sales jumped by the most in more than a year and bond
yields dropped. Exporters including Canon Inc. may lead gains on
speculation lower borrowing costs and higher consumer spending in
Japan's largest overseas market will lift profits.

Exporters may also get a boost after the yen weakened to the
lowest against the dollar since 2002, increasing the value of
their dollar-denominated sales.


Read more at Bloomberg Stocks News

Australian Mineral, Energy Sales Fall in First Quarter on Adverse Weather

(Bloomberg) -- Sales of minerals and energy from
Australia, the world's biggest exporter of coal and iron ore,
dropped 5.5 percent in the first quarter as adverse weather
conditions reduced production.

Exports fell to A$25.5 billion ($21.4 billion) in the three
months ended March 31, from A$27.1 billion in the previous
quarter, the Australian Bureau of Agricultural and Resource
Economics said today. Sales were 16 percent higher than the
corresponding period last year.


Read more at Bloomberg Commodities News

Crude Oil Is Steady After Gaining as Saudi Arabia Cuts Shipments to Asia

(Bloomberg) -- Crude oil was little changed in New
York after rising yesterday on signs the Organization of
Petroleum Exporting Countries may extend production cuts to trim
global stockpiles.

Saudi Arabia, the world's biggest exporter, yesterday told
Asian refiners that it would curb shipments for a ninth month in
July. An Energy Department report tomorrow will probably show
above-average oil stockpiles in the U.S. fell 400,000 barrels
last week as refiners increased output to meet rising summer
demand, according to a Bloomberg News survey of 13 analysts.


Read more at Bloomberg Energy News

UPDATE 1-Canada April trade surplus rises on import decline

(Reuters) - Merchandise exports inched down 0.3 percent from the
previous month to C$40.67 billion, while imports slid 2.2
percent to C$34.91 billion. The resulting surplus was above
analysts' average forecast of C$4.9 billion, according to a
Reuters poll.




Exports, which account for about 40 percent of gross
domestic product, took a beating from a decline in automotive,
energy and forestry shipments. That weakness outweighed the
record high value for exports of industrial goods and
materials, led by metals.


Read more at Reuters.com Economic News

South Korea's Exports Increase 11.9 Percent in May, Faster Than Expected

(Bloomberg) -- South Korea's exports rose more than
expected last month, stoked by sales of cars and mobile phones,
suggesting growth in Asia's third-largest economy may accelerate.

Exports climbed 11.9 percent in May from a year earlier
after surging 17.1 percent in April, the Ministry of Commerce,
Industry and Energy said today in Gwacheon, South Korea. That
beat the median estimate of 9 percent in a Bloomberg News survey
of 11 economists.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Japan exports to US dip, but offset by Asia demand

(Reuters) - Data on Thursday underscored concerns that exports to the
Unites States, Japan's largest export destination, may be losing
momentum, but economists said overall exports will likely remain
firm and keep supporting the nation's steady economic recovery.




Exports to the United States, where economic growth slowed to
its weakest pace in four years in the first quarter, fell 4.8
percent from a year earlier to 1.34 trillion yen .


Read more at Reuters.com Economic News