The following are the top Asia stories for the day.
TOP STORIES/MOST READ ON BLOOMBERG
Irish Bonds Lead Peripheral Rout as Margin Requirement Raised
Irish 10-year bonds tumbled for a 12th day, leading a rout in debt from Portugal to Greece, as LCH Clearnet Ltd. demanded its clients place a larger deposit when trading the nation?s securities after yields soared.
Wall Street Takes $4 Billion From Taxpayers as Swaps Backfire
The subprime mortgage crisis isn?t the only calamity Wall Street created that?s upending the finances of U.S. states and cities.
Boeing Suspends 787 Tests as Jet Loses Electric Power (Update1)
Boeing Co. suspended test flights of the 787 Dreamliner while it investigates why a fire erupted on one of the planes, knocking out some electrical systems and forcing an emergency landing in Texas.
MAIN ECONOMIC RELEASES: Figures are based on Bloomberg survey of economists:
Japan Releases Machinery Orders, Producer Prices New Zealand Releases Business PMI for October Australia Releases Consumer Inflation Expectations Australia Releases Unemployment for October China Releases Inflation, Retail Sales, Production, Investment India Releases Weekly Wholesale Prices
MAIN ANALYST UPGRADES/DOWNGRADES:
PLDT Raised to ?Overweight? at JPMorgan Telkom Indonesia Raised to ?Overweight? at JPMorgan Seoul Semicon Raised to ?Overweight? at HSBC Samsung Electro-Mechanic Raised to ?Overweight? at HSBC Computershare Cut to ?Sell? at UBS Sunac China Holdings Ltd Rated New ?Buy? at Deutsche Bank Gujarat State Petronet Rated New ?Buy? at Deutsche Bank Oil India Ltd Rated New ?Buy? at Deutsche Bank China Automotive Systems Raised at Global Hunter Securities City Developments Cut to ?Neutral? at JPMorganUnited Spirits Ltd United Spirits Ltd Rated New ?Underweight? at HSBC China Shineway Pharma Cut to ?Underweight? at JPMorgan
ASIAN MARKETS
The Nikkei 225 futures contract due in December rose 70 to 9,880. The Hang Seng Index futures contract for November fell 277 to 24,408. The S&P/ASX 200 Index futures contract due in December rose 24 to 4,740 at 7:09 a.m. in Sydney.
Most U.S. Stocks Rise as Irish Debt Concern Eases, Oil Rallies
Most U.S. stocks rose, halting a two-day drop, as higher oil prices boosted energy shares and Ireland?s central bank governor said the country may return to bond markets in 2011, easing concern that Europe?s debt crisis will worsen.
Treasuries Pare Post-Sale Losses as Fed Unveils Buying Schedule
Treasuries erased declines after the Federal Reserve announced plans for 18 open-market operations to buy $105 billion of debt during the next 30 days as it expands its policy of quantitative easing.
Dollar Gains to One-Month High Versus Yen as U.S. Yields Rise
The dollar advanced to the strongest level in more than a month against the yen as U.S. Treasury 10- year yields near seven-week highs made assets denominated in the greenback more attractive to international investors.
European Stocks Drop Most in Two Weeks Amid Deficit Concern
European stocks fell the most in two weeks amid renewed concern that the region?s weakest economies will struggle to reduce their deficits and as companies from UniCredit SpA to Natixis SA had worse-than-estimated earnings.
German Bonds Open Lower; 10-Year Bund Yield Advances to 2.44%
German government bonds opened lower, sending the yield on the 10-year bund up three basis points to 2.44 percent as of 7:02 a.m. in London.
Crude Oil Rises After U.S. Government Releases Supply Report
Crude oil futures rose after the U.S. Energy Department said stockpiles dropped 3.27 million barrels.
Gold Advances on Investor Demand for Alternative to Currencies
Gold climbed in London on demand for an alternative investment to currencies. Silver and palladium advanced.
HIGHLIGHTS FROM NEWSPAPERS:
Rice Researchers Start $600 Million Program to Improve Yields
Researchers announced a five-year program costing almost $600 million to improve yields in rice, the staple food for half the world.
To contact the editor responsible for this story: Tracy Withers in Wellington at twithers@bloomberg.net
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