Australia's S&P/ASX 200 Index Slips From Record, Led by Banks, Oil Stocks

(Bloomberg) -- Australia's S&P/ASX 200 Index fell
from a record. U.S.-linked shares such as James Hardie Industries
NV and lenders including National Australia Bank Ltd. dropped
after U.S. banks increased reserves for bad loans.

``The continued fallout from the subprime issue in the U.S.
is tempering people's enthusiasm for financial stocks,'' said
Angus Gluskie, who helps manages the equivalent of about $380
million at White Funds Management in Sydney.


Read more at Bloomberg Stocks News

National Bank of Abu Dhabi Plans Bonds Denominated in Yen, Ringgit, Dirham

(Bloomberg) -- National Bank of Abu Dhabi PJSC, the
United Arab Emirates' biggest lender by market value, said it may
sell bonds in Japanese yen, Malaysian ringgit and local currency
to diversify its sources of funding.

The bank will hold a board meeting July 25 to discuss sales
of as much as 40 billion yen ($331 million), 3 billion ringgit
($878 million), and 2 billion dirhams ($545 million) of bonds, it
said in a filing with the Abu Dhabi Securities Market today.


Read more at Bloomberg Bonds News

U.K. Pound Rises to Highest in 26 Years on Outlook for BOE Interest Rates

(Bloomberg) -- The pound rose to its strongest in
26 years against the dollar on speculation the Bank of England
will keep raising interest rates.

The highest benchmark bond yields of any Group of Seven
nation have lured investors from abroad and pushed up the pound.
A report last week showed the U.K.'s economic expansion
unexpectedly quickened in the second quarter, while the U.S.
Federal Reserve trimmed its forecast for growth.


Read more at Bloomberg Currencies News

India's Bonds Gain Most in Three Months as Central Bank Reduces Debt Sales

(Bloomberg) -- India's 10-year bonds gained the most
in three months, sending yields to the lowest in 5 1/2 months,
after the central bank cut debt sales aimed at draining spare
cash from the banking system this week.

The yield on the benchmark 7.49 percent note due April 2017
fell 10 basis points, or 0.1 percentage point, to 7.72 percent as
of 9:35 a.m. in Mumbai, according to the central bank's trading
system. The price rose 0.64, or 64 paise per 100 rupee face value,
to 98.45.


Read more at Bloomberg Bonds News

Gold Little Changed in Asia After Reaching Two-Month High; Silver Advances

(Bloomberg) -- Gold was little changed in Asia after
reaching the highest in more than two months, supported by the
euro's gain to a record against the dollar and crude oil's
advance last week to near a one-year high. Silver rose.

Gold generally moves in the opposite direction to the U.S.
currency, which slid to a record low of $1.3845 per euro today
amid concern about U.S. loans to homeowners with poor credit.
Crude oil was little changed at $75.53 a barrel at 11:04 a.m.
Singapore time, after climbing to $76.13 a barrel on July 20, the
highest since Aug. 10.


Read more at Bloomberg Commodities News

Dollar hits low, stocks retreat on subprime fears

(Reuters) - The weaker dollar hit Asian exporters such as Canon Inc., with overall market sentiment also soured by losses on Wall Street and caution after China raised interest rates on Friday in another attempt to prevent the buoyant economy from overheating.




Oil prices fell from near-record highs after oil producer group OPEC expressed concern about the impact of high oil prices on the global economy, which traders saw as a sign it might decide to pump more oil. Gold held on to Friday's gains, benefiting from the weak dollar and heightened market uncertainty.


Read more at Reuters.com Hot Stocks News

JPMorgan says wins approval to incorporate in China

(Reuters) - More than a dozen foreign banks are queuing to incorporate
their operations in China, whose banking market was fully opened
to overseas lenders late last year as part of Beijing's
commitment to the World Trade Organisation, which it joined in
2001.




Locally incorporated foreign banks are allowed to offer
full-fledged banking services, including credit card issuance and
local currency-denominated wealth management services, to Chinese
customers.


Read more at Reuters.com Government Filings News