Stocks Retreat in Europe; UBS, BNP, Philips, BHP, Lafarge Lead the Drop

(Bloomberg) -- European stocks fell, following
declines in Asia and the U.S., on mounting concern that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.

UBS AG and BNP Paribas SA led a drop by financial shares.
Royal Philips Electronics NV and Lafarge SA decreased as the
dollar traded near a record low against the euro. BHP Billiton
Ltd. and Rio Tinto Group slipped after copper fell in Shanghai.


Read more at Bloomberg Stocks News

U.S. Treasuries Are Little Changed Amid Asian Stock Slide, Slower Growth

(Bloomberg) -- Treasuries were little changed as
Asian stocks fell and speculation increased that losses tied to
subprime mortgages will prompt the Federal Reserve to cut
interest rates this year.

Ten-year notes may extend their gains into a fifth week
after reports showed employers added fewer jobs than expected
last month and bond investors are becoming less bearish.
Treasuries are on track to return 5.3 percent this year, the
most since 2002, according to a Merrill Lynch & Co. index.


Read more at Bloomberg Bonds News

European Stocks May Decline; UBS, ING, Philips, BHP Billiton Might Drop

(Bloomberg) -- European stocks may fall, following
declines in Asia and the U.S., as concern mounts that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.

UBS AG and ING Groep NV may lead financial stocks lower.
U.S.-traded shares of Royal Philips Electronics NV and Nokia Oyj
dropped as the dollar traded near a record low against the euro.
BHP Billiton Ltd. and Rio Tinto Group declined in Australian
trading after copper fell in Shanghai.


Read more at Bloomberg Stocks News

Hynix, Toshiba Shares Rise on Outage at Samsung Electronics Chip Factory

(Bloomberg) -- Shares of Hynix Semiconductor Inc. and
Toshiba Corp. rose, bucking declines across Asia, on speculation
a power outage at Samsung Electronics Co. may spur increased
orders for the two smaller memory chipmakers.

Hynix's stock gained as much as 2.8 percent in Seoul and
Toshiba shares climbed 1.8 percent in Tokyo as benchmark indexes
in Asia fell. On Aug. 4, South Korea's Samsung said it resumed
production at the six production lines that were halted a day
earlier because of a power outage, estimating 40 billion won ($43
million) in lost sales.


Read more at Bloomberg Emerging Markets News

HK financier Francis Leung joins CVC as adviser

(Reuters) - Leung, a long-time banker to Hong Kong tycoon Li Ka-shing with close China ties, was with Citigroup Global Markets as chairman of Asia until last year focusing on developing Citigroup's Greater China investment banking business, CVC said.




CVC, which is a major shareholder in global motor racing business Formula 1, owns interest in Australia's media group PBL Media, Japan's restaurant chain Skylark, Singapore's precision metals stamping firm Amtek, Malaysia's largest paper packaging firm GS Paper and Packaging, and Chinese wood fibreboards maker Plantation Timber Products.


Read more at Reuters.com Business News

UPDATE 2-Pakistan issuer defers bond, others may follow

(Reuters) - KARACHI/HONG KONG, Aug 3 - Pakistani textile and
fertiliser maker Azgard Nine has postponed its
international bond issue due to poor market conditions, sources
familiar with the deal said on Friday, with other pending high
yield issues from Asia also seen as vulnerable.




Azgard Nine said in May its debut international bond,
sponsored by Citigroup , would be worth up to $260 million,
and have a tenor of between seven and 10 years.


Read more at Reuters.com Bonds News

ADM quarterly profit rises, ethanol volume down

(Reuters) - The largest U.S. food processor and ethanol producer, ADM said earnings rose to $954.8 million, or $1.47 per share, in the fiscal fourth quarter ended June 30, from $410.3 million, or 62 cents per share, a year earlier.




The quarter included after-tax gains on asset sales of $616 million. Part of the gain was $440 million for the exchange of stakes in certain Chinese joint ventures for shares in Wilmar International Ltd. , the largest agriculture processing business in Asia.


Read more at Reuters.com Business News

Asian Currencies Weaken as Overseas Investors Shun Region's Riskier Assets

(Bloomberg) -- Asian currencies fell on speculation
global investors cut holdings in riskier assets as stock markets
across the region dropped.

The Indonesian rupiah declined to the weakest in almost five
months and the Malaysian ringgit and South Korean won slipped to
their lowest in July. Bank Indonesia said last week it isn't
worried by the currency's decline, while South Korea's central
bank said the won is set to drop as the current-account surplus
narrows.


Read more at Bloomberg Currencies News

Australian and New Zealand's Dollars Fall as Investors Cut Carry Trades

(Bloomberg) -- The Australian and New Zealand
dollars both fell to the weakest in a month against the U.S.
currency as a slide in stocks prompted investors to cut holdings
in higher-yielding securities.

The currencies were the worst performing today of the 16
most-traded as the Morgan Stanley Capital International Asia
Pacific Index fell 0.7 percent. A slump in corporate debt caused
investors to pare carry trades, in which they borrow cheaply in
yen and seek higher returns.


Read more at Bloomberg Currencies News

UPDATE 2-Baer in $1.7 bln share buyback as profit jumps

(Reuters) - ZURICH, July 27 - Swiss wealth manager Julius Baer said it would buy back 2 billion Swiss francs of its shares after first-half net profit rose by 28 percent, in line with market expectations.



Net new money inflows into Baer's private banking unit, a key gauge of future income, were a healthy 5.3 billion francs, in a sign its recent push into fast-growing Asia was bearing fruit. The number was in line with expectations. "We have further improved the overall profitability of the group in spite of our accelerated growth initiatives," Chief Executive Officer Hans de Gier said in a statement.


Read more at Reuters.com Market News

Palm Oil Gains in Malaysia as Festival Season Approaches, Demand to Rise

(Bloomberg) -- Palm oil futures in Malaysia, the
benchmark for the commodity, rose after exports from the
Southeast Asian nation picked up, indicating higher demand with
the approach of major festivals across Asia in the second half.

This year, China and Chinese people around Asia celebrate
the mid-autumn harvest in September, while Hindus mark their new
year in November. Muslims will fast for a month from mid-
September, starting and ending each day with communal meals.
Most palm oil is used in cooking.


Read more at Bloomberg Commodities News

Platinum Gains in Asia Trade After UBS Report Says Swiss Stockpiles Drop

(Bloomberg) -- Platinum rose in Asian trading after
a report that stockpiles in Switzerland dropped by almost half
this year, and as wage talks in South Africa raised concerns that
a strike may disrupt supplies.

Inventories in Switzerland, the European storage hub, fell
to 14.7 tons in June from 29 tons in December, John Reade,
London-based head of metals strategy at UBS Investment Bank, a
unit of Zurich-based UBS, said in an e-mailed report yesterday.


Read more at Bloomberg Commodities News

UPDATE 1-P.F. Chang's 2nd-quarter earnings rise

(Reuters) - Net income for the Asian-themed restaurant operator was
$9.3 million, or 36 cents per share, compared with $8.1
million, or 30 cents per share, a year earlier.




Wall Street analysts, on average, had been expecting
earnings of 36 cents per share, according to Reuters
Estimates.


Read more at Reuters.com Market News

Air China, Kia Motors, Samsung Electronics: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. This preview includes news that
broke after markets closed. Prices are from the local market's last
close. Stock symbols are in parentheses after company names.

Air China Ltd. (753 HK): The nation's largest international
carrier said first-half profit this year is projected to surge more
than 20-fold because of growing demand for its services and gains
in investments and the yuan. The stock added 3 cents, or 0.5
percent, to HK$6.18.


Read more at Bloomberg Stocks News

Thailand's Stocks Climb to 10-Year High Led by PTT; World's Biggest Mover

(Bloomberg) -- Thai stocks climbed, driving the key
index to the highest in more than 10 years, on speculation that
the cheapest valuations in Asia will draw more overseas investors
to the nation's equities.

``The market has done extremely well,'' said Hans Goetti,
Singapore-based managing director at Citi Private Bank, which has
assets of $100 billion in Asia. ``It has good value.''


Read more at Bloomberg Stocks News

South Korea's Kospi Tops 2,000 for First Time After 39 Percent 2007 Rally

(Bloomberg) -- South Korea's benchmark Kospi index
exceeded 2,000 for the first time. It has risen 39 percent so far
this year, the second-best performance among Asia's main stock
indexes after China's CSI 300 Index.

The Kospi index climbed 9.99, or 0.5 percent, to 2,003.04 as
of 9:03 a.m. in Seoul. The Kosdaq added 0.7 percent to 824.46.
Kospi 200 futures expiring in September gained 0.3 percent to
254.25, while the underlying index rose 0.4 percent to 253.27.


Read more at Bloomberg Stocks News

Japan Bonds Gain on Speculation Investors Sought Safety of Government Deb

(Bloomberg) -- Japan's bonds headed for the longest
winning streak since November on speculation a decline in
emerging-market debt and equities will prompt investors to seek
the relative safety of government securities.

The Japanese 10-year yield fell to the lowest in almost
three weeks as a drop in U.S. stocks extended to Asia. The yield
premium required to compensate buyers for the extra risk of
holding emerging-market debt compared with similar-maturity U.S.
Treasuries climbed to the highest since March, according to
JPMorgan Chase & Co.'s EMBI Plus index.


Read more at Bloomberg Bonds News

Asian Stocks Fall From a High; Honda, Japan Exporters Decline as Yen Gains

(Bloomberg) -- Asian stocks fell, led by Japanese
exporters, after the dollar declined to a six-week-low against
the yen amid concern the U.S. economy is slowing.

Honda Motor Co., which last year made the bulk of its sales
in North America, slid the most in six weeks. Sony Corp., the
world's biggest game-console maker, had its biggest slump in
almost a month.


Read more at Bloomberg Stocks News

Mobile-8 Telecom, Vietnam, Shinhan Card, Hyundai Capital: Asia Bond Alert

(Bloomberg) -- PT Mobile-8 Telecom, an Indonesian
mobile-phone operator that counts Qualcomm Inc. as an investor,
and Vietnam are among borrowers seeking to sell at least $7
billion of bonds in Asia, according to data compiled by
Bloomberg.

Governments and companies in Asia sold $43.6 billion of
debt denominated in dollars, euros and yen this year, up from
$37.5 billion a year earlier, Bloomberg data show. Sales of
Samurai bonds, yen debt sold by foreign entities in Japan, rose
to 1.4 trillion yen ($11.6 billion), from 741 billion yen in the
whole of 2006.


Read more at Bloomberg Bonds News

U.K.'s FTSE 100 Is Little Changed; Mining Shares Advance as Sage Retreats

(Bloomberg) -- U.K.'s mining stocks rose, paced by
Rio Tinto Plc after copper prices climbed in Asia. Kingfisher
Plc advanced after Deutsche Bank AG raised its recommendation on
shares of Europe's biggest home-improvement retailer.

Sage Group Plc, Britain's biggest maker of accounting
software, paced falling shares.


Read more at Bloomberg Stocks News