U.S. Notes Rise as Investors' Risk Appetite Wanes, Asian Stocks Decline

(Bloomberg) -- U.S. Treasuries rose, with the yield
on 10-year notes falling to the lowest in almost two months, on
speculation investors sold stocks and sought the relative safety
of government debt.

The yield on the 4 1/2 percent 10-year note maturing in May
2017 fell 2 basis points, or 0.02 percentage point, to 4.93
percent as of 1:20 p.m. in Singapore, according to bond broker
Cantor Fitzgerald LP. The price rose 4/32, or $1.25 per $1,000
face amount, to 96 21/32. Bond yields move inversely to prices.


Read more at Bloomberg Bonds News

Gold Little Changed in Asia as Dollar Stabilizes After Decline Versus Euro

(Bloomberg) -- Gold was little changed in Asia
after falling for the first day in three yesterday as the
dollar's decline seemed to stall, reducing the precious metal's
appeal as an alternative investment. Silver declined.

Gold generally moves in tandem with the euro, which fell
for the second day yesterday after reaching a record against the
dollar on July 13. Gold has gained 4.5 percent while the euro
has risen 4.4 percent against the dollar this year. Europe's
single currency fell to $1.3776 at 10:16 a.m. in Singapore
compared with all-time high $1.3814 on July 13.


Read more at Bloomberg Commodities News

DP World of Dubai to Buy, Expand Ports in China, India as Trade Increases

(Bloomberg) -- DP World, thwarted in an attempt to
expand in the U.S., is seeking to buy or expand port facilities
in China and India as trade booms in the world's two-fastest
growing major economies.

The company, the third-biggest container terminal operator,
needs to expand in India and China to meet its target of doubling
capacity by 2016, Sultan Ahmed Bin Sulayem said today in an
interview in Singapore. Owned by the government of Dubai in the
United Arab Emirates, DP World is in talks to acquire Chinese
port assets, he said.


Read more at Bloomberg Currencies News

Korea Exchange Bank to Sell Dollar Debt After Moody's Boosts Credit Rating

(Bloomberg) -- Korea Exchange Bank, controlled by
U.S. buyout firm Lone Star Funds, plans to sell dollar-
denominated bonds after Moody's Investors Service lifted its debt
rating by three levels.

Seoul-based Korea Exchange hired Calyon, HSBC Holdings Plc,
Merrill Lynch & Co. and Morgan Stanley to arrange the sale of the
five-year floating-rate notes, according to an e-mail sent to
investors today by the underwriters. Korea Exchange will set
terms after marketing the securities to investors in Singapore on
July 11 and Hong Kong on July 12, the e-mail shows.


Read more at Bloomberg Bonds News

Singapore Stocks Gain for Fifth Day; Venture Rises on Manufacturing Data

(Bloomberg) -- Singapore's stock index rose for a
fifth day, headed for its longest winning spell in almost three
months, after a key gauge showed production in the city-state
accelerated in June.

Venture Corp., the city-state's biggest electronics
manufacturer for other customers, gained.


Read more at Bloomberg Stocks News

Jim Rogers Says He's Sold `Over-Exploited' Emerging Markets, Except China

(Bloomberg) -- Jim Rogers, who predicted the start
of the global commodities rally in 1999, said he's sold out of
all emerging markets with the exception of China because they're
``over-exploited.''

``I'm hoping when the next big correction comes I'm smart
enough to buy some of them back,'' Rogers, chairman of New York-
based Beeland Interests Inc., said in an interview in Singapore
today. ``They're all over-exploited, so I've sold out.''


Read more at Bloomberg Exclusive News

CapitaLand, Singapore Press, Thai Beverage: Singapore's Equity Preview

(Bloomberg) -- The following shares may rise or fall
in Singapore. Stock symbols are in parentheses and prices are
from the previous market close.

The Straits Times Index gained 0.9 percent to 3538.23. The
June futures contract advanced 1.2 percent to 436.9.


Read more at Bloomberg Stocks News

SingTel confirms to buy Warid stake for $758 mln

(Reuters) - By Faisal Aziz



KARACHI, June 28 - Singapore Telecommunications , Southeast Asia's leading telcoms group, is to buy a 30 percent stake in Warid Telecom, Pakistan's No.3 mobile operator, for more than $700 million, a Warid source said on Thursday.


Read more at Reuters.com Mergers News

Aframax Tanker Rate on Asian Shipping Routes Drops First Time in Six Days

(Bloomberg) -- The cost of shipping 80,000 metric
tons of oil on Asian routes dropped the first time in six days
as most bookings for early July have been concluded. Further
declines may be limited as freights for the rest of the month
are fixed.

The rate of shipping crude or fuel oil on so-called Aframax
tankers to Singapore from Kuwait dropped 0.13 percent to
Worldscale 154.42 yesterday, according to the London-based
Baltic Exchange. Last week, it rose the most since March 30.


Read more at Bloomberg Energy News

Philippine Peso Declines as Investors Cut Risk: Won Rises on Extra Yield

(Bloomberg) -- The Philippine peso weakened for a
second day on speculation investors will reduce their risk as key
Asia stock markets followed U.S. benchmarks lower.

A slump in the U.S. subprime mortgage market that is hurting
major hedge funds has raised concern U.S. growth will slow and
weigh on investment in the Asian region. Currencies in Indonesia,
the Philippines and Malaysia that have benefited more from
foreign fund inflows may be the worst at risk, said Tetsuo
Yoshikoshi at Sumitomo Mitsui Banking Corp. in Singapore.


Read more at Bloomberg Currencies News

FEATURE-Middle East investors eye Asian property, capital

(Reuters) - Arab investors -- ranging from state-backed funds to listed
developers -- have traditionally scoured Europe and North
America for acquisitions but are diversifying into Asia, lured
by rising realty values from Shanghai to Singapore.




Tighter U.S. legislation on fund flows to and from the
Middle East since the Sept. 11, 2001 attacks is also prompting
some Arab players to park more petrodollars in Asia.


Read more at Reuters.com Mergers News

Indonesian Palm Oil Exports May Fall 6 Percent on Tax, Trade Minister Says

(Bloomberg) -- Indonesia, the world's largest palm
oil producer, will export 6 percent less of the tropical oil
this year after raising taxes on shipments to ensure that local
supplies are adequate, Trade Minister Mari Pangestu said.

``It will provide enough of a dampening effect domestically,
and will stabilize domestic cooking oil prices,'' Pangestu said
in an interview in Singapore. Cooking oil in the country is made
from palm oil, the price of which rose to a record this month.


Read more at Bloomberg Commodities News

Fed eyed after record-setting week

(Reuters) - An interest rate decision by the U.S. central bank and any fresh clues it gives on the health of the world's largest economy will be in focus this week as investors take stock of gains that have pushed share markets from Hong Kong to Singapore to record highs.

The latest rally in Asian markets was underpinned by growing optimism about a turnaround in earnings for chip makers, a move that could help see further gains in the sector.


Read more at Reuters Africa

Singapore's Stock Index Little Changed; CapitaLand Falls, SembCorp Rises

(Bloomberg) -- Singapore's key stock index is little
changed. Property stocks fell, led by CapitaLand Ltd., the city-
state's largest developer, on concern recent gains were excessive.

SembCorp Marine Ltd., the world's second-largest rig-builder,
led oil-and-gas equipment suppliers higher as crude oil traded
near a nine-month high.


Read more at Bloomberg Stocks News

U.S. Treasuries Fall as Government Report May Show Gain in Producer Prices

(Bloomberg) -- Treasuries resumed a month-long
slump on speculation a government report will show that producer
prices rose last month.

The yield on the benchmark 10-year note rose 2 basis points,
or 0.02 percentage point, to 5.22 percent as at 9:00 a.m. in
Singapore, according to bond broker Cantor Fitzgerald LP. The
price of the 4 1/2 percent note due May 2017 fell 5/32, or $1.56
per $1,000 face amount, to 94 14/32.


Read more at Bloomberg Bonds News

Asian Stocks Drop, Led by Sony, DBS Group on Global Interest Rate Concern

(Bloomberg) -- Asian stocks fell this week, after
setting a new high, on concern rising global interest rates will
curb spending and investment worldwide. Sony Corp. and DBS Group
Holdings Ltd. declined.

``We are moving into a phase whereby long-term interest rates
will go a lot higher,'' said Chua Soon Hock, who manages about
$400 million at Asia Genesis Asset Management Pte in Singapore.
``You need to be defensive and preserve your capital.''


Read more at Bloomberg Stocks News

CapitaLand, Keppel, Robinson, Cougar Holdings: Singapore's Equity Preview

(Bloomberg) -- The following shares may rise or fall
in Singapore. Stock symbols are in parentheses and prices are
from the previous market close.

The Straits Times Index slid 0.5 percent to 3546.33. The
June futures contract fell 0.2 percent to 437.


Read more at Bloomberg Stocks News

Asian Currencies Fall, Led by Malaysian Ringgit, as Global Stocks Decline

(Bloomberg) -- Asian currencies fell, led by the
Malaysian ringgit and Philippine peso, on speculation a drop in
global stock markets caused investors to sell riskier assets.

The Singapore dollar traded near the lowest in almost three-
months and the Thai baht had its biggest onshore fall since March
23 as declines in European and U.S. equities spilled over into
Asia. The Morgan Stanley Capital International Asia-Pacific Index
of shares snapped five days of gains.


Read more at Bloomberg Currencies News

Thomson buys non-China bureaus of Xinhua Finance

(Reuters) - The deal covers XFN bureaus in Tokyo, Manila, Jakarta, Kuala Lumpur, Singapore, Sydney and Seoul. The companies also signed licensing agreements for the exchange of news services after the sale, Xinhua Finance said in a statement.




XFN will keep editorial operations in Beijing, Shanghai, Hong Kong and Taipei, while news operations of Xinhua Finance's other subsidiaries, including Market News International, will not change.


Read more at Reuters.com Mergers News

Malaysia Stocks Have Record Winning Streak on Ringgit, Palm Oil, Economy

(Bloomberg) -- Malaysia stocks, Southeast Asia's
most expensive, are the only ones in Asia that have risen for 11
straight months. The rally may have further to run as rising
government spending and wages lift earnings.

``We're a lot more bullish than some people on Malaysia,''
said Hugh Young, who oversees $35 billion as managing director
at Aberdeen Asset Asia Ltd. in Singapore. ``The market may not
be cheap, but we're bullish on what's happening in that
market.'' The firm this year added to its stake in Bumiputra-
Commerce Holdings Bhd., Malaysia's second-biggest bank, and owns
stock in British American Tobacco Bhd., the nation's biggest
cigarette maker.


Read more at Bloomberg Exclusive News