Asia

Financial News

Zhou Seeks to Deflect European, Japanese Appeals for Yuan to Strengthen Chinese central bank Governor Zhou Xiaochuan said he doesn’t think his country is facing too many foreign demands to let the yuan strengthen, deflecting calls from Europe and Japan to do just that.

Brown Says G-20 Should Consider Tax on Financial Speculation to Curb Risk U.K. Prime Minister Gordon Brown said the Group of 20 nations should consider measures such as taxing financial transactions to penalize excessive risk taking and limit the burden on taxpayers of bank failures.

Codelco Increases Japan, South Korea Copper Charges to $74 a Ton for 2010 Codelco, the world’s biggest copper producer, will raise the surcharge on sales to Japan and South Korea by as much as 16 percent next year as demand from China lifts metal prices.

IMF Says Dollar Being Used to Fund `Carry Trade,' May Still Be Overvalued The International Monetary Fund said traders are probably using the dollar to fund “carry trades” across the world and the currency may still be overvalued even after its slide this year.

Rupert Murdoch Would Like One of His Children to Succeed Him at News Corp. News Corp. Chairman Rupert Murdoch, who began building his media group with the Adelaide News in 1953, said he’d like one of his children to succeed him, amid regular discussions about who will take over at the U.S. company.

Delta Said to Hire Dentsu for Japan Airlines Lobbying as Fleishman Exits Delta Air Lines Inc. is hiring Dentsu Inc. to lobby Japanese politicians on its proposed tie-up with Japan Airlines Corp. after former adviser Fleishman Hillard Inc. withdrew, three people familiar with the situation said.

China May Slow Imports of Vegetable Oils Amid High Stockpiles, Cofco Says China, the world’s largest consumer of vegetable oil, may slow imports in 2009/2010 amid high domestic stockpiles, an executive from Cofco Oil & Grains Co. said.

Asian Stocks Fall, Completing Longest Weekly Losing Streak in Eight Months Asian stocks fell for a third week, dragging the MSCI Asia Pacific Index to its longest stretch of declines in eight months, on concern the easing of government stimulus measures will jeopardize the global economic recovery.

South Korea's MagnaChip Emerges From Bankruptcy With New Plan for Revamp MagnaChip Semiconductor LLC emerged from Chapter 11 and the South Korean chipmaker said its second amended plan for reorganization will take effect Nov. 9.

Toyota Sued by U.S. Consumers Over 2,000 Complaints of Sudden Acceleration Toyota Motor Corp. has failed to correct a problem with the throttle control system on some of its vehicles, causing them to suddenly accelerate, lawyers for consumers said in a lawsuit.

General News

Dalai Lama's Visit to Indian Border Town Prompts Tensions, More Security Indian police stepped up security in the border town of Tawang on the eve of the Tibetan spiritual leader Dalai Lama’s trip to Tawang, where he first crossed into exile 50 years ago. The visit has raised tensions with China.

Japan Promises $5.5 Billion Environmental Support to Mekong River States Japan will join five Southeast Asian nations that share the Mekong River in a 10-year program to protect the region’s environment, as Prime Minister Yukio Hatoyama seeks closer ties with Asia.

Obama to Delay Japan Visit by One Day After Army Base Shooting, AFP Says U.S. President Barack Obama will delay his visit to Japan by one day to attend a memorial service for victims of the shooting at an Army base in Texas, Agence France-Presse reported, citing other media.

Asian Indexes 

Asian Currencies 

Futures