Japan Stocks Decline on U.S. Concerns, Strong Yen; Sony and Mizuho Drop

(Bloomberg) -- Japanese stocks fell after American
Home Mortgage Investment Corp. said it lacks cash to fund new
loans, sending U.S. shares lower and reigniting concerns subprime
problems will curb growth in the world's largest economy.

Exporters including Sony Corp. declined after the yen
strengthened, cutting the value of their overseas sales in the
local currency. The U.S. Standard & Poor's 500 Index posted its
biggest monthly drop in three years.


Read more at Bloomberg Stocks News

Crude Oil Declines on Report That OPEC Is Concerned About High Oil Prices

(Bloomberg) -- Crude oil fell after Reuters reported
the Organization of Petroleum Exporting Countries was concerned
about high oil prices and their impact on the world economy.

The group may pump more oil to increase supplies, though
it's unclear whether extra production will be needed this year,
OPEC President Mohamed al-Hamli said, according to Reuters. OPEC,
which produces 40 percent of the world's oil, considers $60 to
$65 a barrel a ``reasonable'' price for crude, KPC World, the
monthly bulletin of the Kuwait Petroleum Corp. reported.


Read more at Bloomberg Energy News

China to Lend $800 Million to Malaysia for Construction of Penang Bridge

(Bloomberg) -- Export-Import Bank of China plans to
lend $800 million to Malaysia for the construction of a west
coast bridge, in China's largest loan for an overseas project.

Malaysia's UEM Group Bhd., which is managing the building of
the 23-kilometer (14-mile) second Penang bridge, will sign a
contract with China Harbour Engineering Co. and UEM Construction
for the project, China Harbour said in a statement today given to
reporters in Kuala Lumpur.


Read more at Bloomberg Emerging Markets News

Oil Rises to a 10-Month High on Signs of Growing Demand, Risks to Supply

(Bloomberg) -- Crude oil rose to a 10-month high on
signs U.S. economic growth may accelerate, spurring increased
fuel demand in the world's biggest energy consumer.

U.S. employers added 132,000 workers in June, wages grew and
the unemployment rate stayed near a six-year low, a Labor
Department report showed today. Oil output by the Organization of
Petroleum Exporting Countries was little changed last month,
according to a Bloomberg News survey, showing that the group was
ignoring calls by consuming countries to bolster production.


Read more at Bloomberg Energy News

South Korean Bonds Fall as Interest Rates Will Rise; Won Little Changed

(Bloomberg) -- South Korea's government bonds dropped
on speculation the central bank will raise interest rates next
week to prevent surplus cash in the banking system from spurring
inflation. The won was little changed.

Five-year bonds fell for a fifth day as Finance Minister
Kwon Okyu said monetary policy should be aimed at ``controlling
liquidity'' because consumer prices may rise. Exports increased
to a record in June while the nation's current account balance
was in surplus for the first time in three months in May.


Read more at Bloomberg Currencies News

Gazprom Says It Expects Record $38.1 Billion in Gas Exports This Year

(Bloomberg) -- OAO Gazprom, Russia's state-controlled
natural-gas export monopoly, expects to sell a record $38.1 billion
of fuel to Europe this year, Deputy Chief Executive Officer
Alexander Medvedev told reporters in Moscow today.

Export volumes to Europe will rise this year, Medvedev said,
denying a previous report that a warm winter had cut into sales.
Gazprom supplies a quarter of Europe's gas.


Read more at Bloomberg Emerging Markets News

Taiwan's Export Orders Probably Climbed 10 Percent in May on China Demand

(Bloomberg) -- Taiwan's export orders probably grew
in May at a similar pace to April as electronics demand in China,
the island's biggest overseas market, offset weaker sales to the
U.S.

Export orders, indicative of actual shipments in one-to-
three months, climbed 10.1 percent from a year earlier,
according to the median estimate of 10 economists in a Bloomberg
News survey. Export orders advanced 11.3 percent in April from a
year earlier. The report is due at 4 p.m. in Taipei today.


Read more at Bloomberg Bonds News

Japanese Stocks May Climb, Led by Canon, Exporters; Komatsu May Advance

(Bloomberg) -- Japanese stocks may gain after
declining U.S. bond yields eased concern that higher borrowing
costs will curb profit growth. Exporters such as Canon Inc. may
advance.

Machinery makers may also rise after the Nikkei newspaper
reported Boeing Co. agreed to help sell Mitsubishi Heavy
Industries Ltd's passenger jet. The newspaper also said Komatsu
Ltd. and Hitachi Construction Machinery Co. separately plan to
expand into the leasing business in China.


Read more at Bloomberg Stocks News

'Near-recessionary' U.S. growth until '08-report

(Reuters) - Exports, business investment and wealthy consumers will
help propel the recovery from below-trend growth through the
first quarter of next year, according to the outlook by the
UCLA Anderson Forecast unit.




The economic forecasting unit sees the Federal Reserve as
hesitant to lower interest rates despite the first quarter's
weak growth and an outlook for "continued softness" this year
while core inflation holds above its "comfort zone."


Read more at Reuters.com Bonds News

UPDATE 1-China Jan-May trade surplus $85.72 bln -official

(Reuters) - Exports in the first five months were $443.5 billion, while
imports in the same period totalled $357.8 billion, Yang
Hongbin, a vice special commissioner with the Ministry of
Commerce, said in a speech to an industry conference in
Shanghai.




The figures suggested that China's trade surplus in May was
$22.41 billion, exceeding forecasts of $18.8 billion by
economists polled by Reuters.


Read more at Reuters.com Economic News

OPEC Crude Oil Production Fell 0.5 Percent in May, Bloomberg Survey Shows

(Bloomberg) -- Crude-oil production in May by
members of the Organization of Petroleum Exporting Countries
fell 0.5 percent, led by declines in Nigeria and Iraq, a
Bloomberg News survey showed.

Output slipped 150,000 barrels to an average 30.01 million
barrels a day, according to the survey of oil companies,
producers and analysts. Production in April was revised to
30.155 million barrels a day from 30 million estimated last
month.


Read more at Bloomberg Energy News

South Korea's Exports Increase by More-Than-Expected 11.9 Percent in May

(Bloomberg) -- South Korea's export rose at a faster
than expected pace in April, suggesting overseas shipments will
help extend the nation's longest economic expansion in a decade.

Exports climbed 11.9 percent from a year ago 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 Currencies News

China's Tin Exports May Fall 28 Percent on Domestic Demand, Antaike Says

(Bloomberg) -- Exports of tin from China, the
world's biggest producer and consumer of the metal, may fall 28
percent by 2010 because of rising domestic consumption, said
forecaster Beijing Antaike Information Development Co.

Net exports of tin used to solder electronic components
will fall to an estimated 8,000 tons in 2010 from 11,124 metric
tons last year, Cui Lin, chief tin analyst at Antaike, said at a
conference in Hong Kong today.


Read more at Bloomberg Commodities News