Asia

Financial News

India Joins Russia, China in Questioning Dominance of U.S. Dollar Reserves Suresh Tendulkar, an economic adviser to Indian Prime Minister Manmohan Singh, said he is urging the government to diversify its $264.6 billion foreign-exchange reserves and hold fewer dollars.

China Needs Domestic Consumption for Economic Recovery, Researcher Says China needs to promote domestic consumption to make up for weak global demand because its economic recovery isn’t firm, a government researcher said.

Indonesia May Raise Interest Rates in 2010 After One Final Cut This Year Indonesia may cut interest rates once more to stoke growth before faster inflation next year prompts policy makers to raise borrowing costs, economists said.

Asian Stocks Post Weekly Loss on Worsening Jobless Figures, Commodities Asian stocks fell this week, the second weekly decline in three, as government data showed job markets are worsening, stoking concern the global economy will recover soon.

Japanese Bonds Post Gain, Completing Third Weekly Advance as Stocks Drop Japanese bonds rose for a third week as Asian stocks extended a slide in global shares after the world’s biggest economy lost more jobs last month than economists forecast, spurring demand for government debt.

South Korea's Won Leads Advancing Asian Currencies as Export Slump Eases Asian currencies gained this week, led by South Korea’s won, as data indicated regional exports are improving as a global recession abates.

Shenzhen's Start-Up Board Needs `Rational' Investors, Exchange's Song Says China’s investors need to take a “rational and mature” approach to trading companies on the proposed Nasdaq-style start-up board, Shenzhen Stock Exchange President Song Liping said.

Hong Kong's Regulator Says Banks' Lehman-Bond Plan Is Unfair, SCMP Reports Hong Kong’s regulator said a proposal by the city’s banks to buy back notes linked to failed Lehman Brothers Holdings Inc. would be unfair to investors, the South China Morning Post reported today.

General News

Hong Kong's Disneyland Visitors Will Increase 60% by 2015, Official Says Walt Disney Co.’s Hong Kong theme park will draw 60 percent more visitors in 2015 than in its best year so far, government economist Helen Chan told the city’s lawmakers today.

North Korea Test-Fires Seven Missiles as South Declares Readiness to React North Korea test fired seven short- range missiles, two days after launching four rockets, spurring condemnations from the U.S., South Korea and Japan.

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