UFO Info Week-End

China’s monthly data deluge this week is expected to show theeconomy is on the path

China’s monthly data deluge this week is expected to show theeconomy is on the path to recovery, even if the pace may be slowerthan some had hoped, according to economists and analysts polledby Reuters Also seen supporting gains, U.S. crude futures hit aseven-month high near $71 per barrel, extending the previoussession’s 2.8 percent gain after data showed a sharp drop in U.S.crude inventories. Consumer goods exporter Li & Fung (0494.HK) will be watchedafter a customer of the company and one of Germany’s biggestretailers, Arcandor (AROG.DE) filed for insolvency on Tuesdayafter the German government rejected its pleas for emergencystate aid. The benchmark Hang Seng Index .HSI sank for a secondstraight session on Tuesday, ending down 1.1 percent at 18,058.49with big gainers in the recent rally sold down as investorsfretted over their valuations. STOCKS TO WATCH- * China Coal Energy (1898.HK) said its coal sales volume inMay fell 5.9 percent from a year earlier and total sales for thefirst five months dropped 14 percent, of which self-arrangedexport sales plunged 91.1 percent in May and dived 79.2 percentfor the Jan-May period. For statement please clickhere * Ping An Insurance (601318.SS) (2318.HK), an insurer 16.8percent owned by HSBC (0005.HK), is eyeing a 30 percent stake inShenzhen Development Bank (000001.SZ) in a deal worth about 20billion yuan ($2.93 billion), the South China Morning Postreported citing sources. Shares in Ping An which have not been trading since Monday,remain suspended.

* LCD TV maker TPV Technology (0903.HK) said its consolidatedrevenue for the first quarter fell 42 percent year on year toUS$1.4 billion and profit fell 67.2 percent to US$14.9 milliondue to a much lower average selling price and a sluggish PCmonitor market. For statement please clickhere * Hotel operator Golden Resorts (1031.HK) said it would sell1.48 billion new shares at 0.185 each to a major shareholder,raising HK$273 million for working capital and to fund futureinvestment. For statement please clickhere * Geely Automobile (0175.HK) said its holding in ManganeseBronze (MNGS.L) would be diluted to 19.97 percent from 22.69percent on completion of a HK$125 million share sale by Maganese.For statement please clickhere * Investment firm China Solar Energy (0155.HK) plans to issueup to 2.79 billion rights shares in the proportion of one rightsshare for every two shares held at HK$0.08 each, raisingHK$222.88 million for working capital, to repay loans and fundinvestment. For statement please clickhere* China National Materials (1893.HK) said it planned toissue 1.7 billion-4.2 billion yuan in five-year interim notes,raising capital to meet operational needs and improve its debtstructure.

For statement please clickhere ———————-MARKET SNAPSHOT 2304 GMT ————INSTRUMENT LAST PCT CHG NET CHGS&P 500 .SPX 942.43 0.35% 3.290USD/JPY JPY= 97.470.07% 0.07010-YR US TSY YLDUS10YT=RR3.8619– 0.000SPOT GOLD XAU= 954.40.07% 0.650US CRUDECLc1 70.470.66% 0.470DOW JONES .DJI 8763.06 -0.02% -1.43————————————————————-> Texas Instruments buoys tech stocks; Dow flat [.N]> US dollar falls as investors pare bets for higher rates [USD/]> Shorter bonds surge on strong auction[US/]> Gold climbs as dollar retreats, oil rallies [GOL/]> Oil hits 7-month high over $70 on demand, US stocks[O/R] (Reporting by Parvathy Ullatil; Editing by Chris Lewis). ORLANDO, Florida (Reuters) – Pau Gasol could have been called for basket interference on a potential game-winning shot by Orlando Magic guard Courtney Lee in game two of the NBA Finals, Los Angeles Lakers coach Phil Jackson said on Tuesday. SportsBut Jackson told a news conference before game three that citing the Lakers forward for touching the rim during the shot would have been “something a high school ref might call.”Lee’s buzzer-beating lay-in at the end of regulation glanced off the rim, sending the game into overtime. The Lakers won the game, 101-96 and have a 2-0 lead in the best-of-seven series.Jackson said Gasol’s hand was “caught in the rim in that one, no doubt about it,” a violation that if called would have given the Magic the win and leveled the series.But the coach called the rule “kind of archaic” and said Gasol “didn’t interfere with the shot.”Magic coach Stan Van Gundy would not get drawn into the debate.”I don’t think his hand being there or not being there had anything to do with the shot going in or not,” he said. “You’re not going to get a complaint from me on that call.”(Writing by Steve Ginsburg; Editing by Greg Stutchbury) Sports. WASHINGTON/DETROIT (Reuters) – The U.S. Supreme Court on Tuesday cleared the way for the sale of Chrysler LLC to Italy’s Fiat, while General Motors began to revamp its widely criticized board by naming former AT&T Inc chief executive Ed Whitacre as chairman.

U.S.  |  DealsIn a victory for the Obama administration driving the restructuring of bankrupt Chrysler, the court denied a request from Indiana pension funds to delay the sale to a group led by Fiat, a union-aligned trust and the U.S. and Canadian governments.The White House welcomed the high court’s action.”We are delighted that the Chrysler-Fiat alliance can now go forward, allowing Chrysler to re-emerge as a competitive and viable automaker,” said a White House official, speaking on condition of anonymity.Representatives for the three pension funds could not be reached. A spokeswoman for Chrysler had no immediate comment.According to a person familiar with Chrysler’s plans, the company is aiming to close the sale early Wednesday morning.The person declined to be named because the plans are not yet public.”Today’s decision is good news for the country,” said U.S. Representative Gary Peters of Michigan, whose district includes Chrysler headquarters. “Chrysler’s swift emergence from bankruptcy has put the company in position to become more globally competitive.”Erich Merkle, independent auto analyst based in Grand Rapids, Michigan, said the choices were “approval of the sale or liquidation.”Moreover, Merkle said the court’s decision to stand back was good news for GM, which is using a similar quick-sale strategy to facilitate its government-backed trip through bankruptcy.”The stakes here were immense Both GM and Chrysler need to get out of bankruptcy.