Japan's Bonds Drop for Fourth Day After Machinery Orders Beat Expectations

(Bloomberg) -- Japan's 10-year bonds fell for a
fourth day after government report showed machinery orders rose
for a second month in May, increasing speculation the central
bank will raise interest rates next month.

Yields on benchmark 10-year bonds rose 2 basis points to
1.95 percent as of 9:11 a.m. in Tokyo at Japan Bond Trading Co.,
the nation's largest interdealer debt broker.


Read more at Bloomberg Bonds News

Japanese Exporter, Energy Shares May Gain; Sony May Pace Rise on Weak Yen

(Bloomberg) -- Japanese exporter shares such as Sony
Corp. and Canon Inc. may advance on speculation a weakened yen
will inflate the value of their overseas sales and boost profits.

Energy-related shares including Inpex Holdings Inc. and
Itochu Corp. may also gain after crude oil jumped to a 10-month
high last week.


Read more at Bloomberg Stocks News

Goldman,Morgan Stanley eye Allianz property-paper

(Reuters) - Bidders for the properties, Allianz offices the firm
intends to lease back, include German property company IVG
, Australian financial investor Babcock and Brown
and U.S. real estate investor Tishman Speyer. IVG is
seeking property for a real estate investment trust it aims to
list in 2008, the FTD added.




The second tranche of properties, around 2 billion euros of
German shops and offices that Allianz purchased as an
investment, is likely to be sold by August. Bidders include
Goldman Sachs's Whitehall real estate fund and a similar fund
operated by Morgan Stanley.


Read more at Reuters.com Bonds News

S.African metal, engineering sector set for strike

(Reuters) - About 260,000 South African workers in the metal and engineering sector are due to launch a strike on Monday over a wage dispute, unions said on Sunday.

The open-ended strike will affect more than 9,000 firms, including Bell Equipment and the Scaw Metals Group, owned by mining group Anglo American Plc, Solidarity union chief negotiator Johan Pieterse told Reuters.


Read more at Reuters Africa

S.Korea raises 2007 export, import growth forecasts

(Reuters) - South Korea lifted its forecast for exports on Sunday, expecting annual growth of 12.8 percent in 2007 thanks to overall healthy expansion in the global economy, according to the Ministry of Commerce.

The ministry also raised its forecast for imports growth to 13.9 percent and predicted this year's trade surplus would exceed $15 billion, narrowing from $16.1 billion recorded last year.


Read more at Reuters Africa

Saudi Stock Index Gains, Led by Sabic, Eastern Cement; Kuwaiti Shares Rise

(Bloomberg) -- Shares in Saudi Arabia rose for a
fourth straight trading session, led by Saudi Basic Industries
Corp. and Eastern Cement Co.

The Tadawul All Share Index rose 146.8, or 2.1 percent, to
7315.5 in Riyadh today.


Read more at Bloomberg Stocks News

Stronger Chinese yuan may hurt US consumers

(Reuters) - Pushing China into allowing a faster appreciation of the yuan has consequences for Americans looking for cheaper products and low interest rates even as it helps U.S. companies compete globally and protects local jobs.

Backers of a stronger Chinese currency against the dollar argue it will improve the U.S. balance of trade with China and help U.S. manufacturers compete globally and locally.


Read more at Reuters Africa