BEIJING (XFN-ASIA) - A summary of Asian economic and corporate news at 0500 GMT

JAPAN:

-Jan current account surplus rises 49.8 pct, ahead of forecast

-Feb wholesale goods price index up 1.8 pct yr-on-yr

-Feb corporate failures down 2.9 pct from Jan - Teikoku

-Japan economy grew faster than initial estimate in Oct-Dec

-Japan revised Oct-Dec GDP - component breakdown

SOUTH KOREA:

-Samsung Heavy wins 583.1 bln won drillship order from Europe

-Sumitomo Mitsui, SKorea’s Kookmin agree to tie up in corporate banking

-Kookmin Bank not currently in talks to buy additional BII stake

HONG KONG:

-CITIC Pacific offers preferential shrs in unit CITIC 1616 ahead of IPO

-TOM Group to buy out unit TOM Online for 1.57 bln hkd

-Yue Yuen Feb opg revenue 259.77 mln usd

-Dynasty Fine Wines warns 2006 results to be affected by higher H2 cost

-China Mining unit buys 75.08 pct of Harbin Songjiang for 1.81 bln yuan

-CLP to inject Ho-Ping Power into jv OneEnergy

CHINA:

-China needs monetary policy transparency, but time needed central bank’s Zhou

-China central bank says aims to ensure healthy property market

-China central bank says to push forward market-oriented interest rate reform

-China needs to tighten monetary policy, cut excess liquidity - central bank

-China needs time to reduce trade surplus - central bank

-China yuan bonds to be unveiled soon in Hong Kong - central bank

-China to pursue gradual yuan reform in 2007, keep currency basically stable

-China’s postal reform to help use postal savings in rural sector - central bank

-Taiwan pro-independence moves hinder cooperation - China central bank chief

-China 2007 GDP seen easing to 9.6 pct, growth drivers more balanced - Lehman

-Trade penalties by US Congress would hurt US-China trade - commerce minister

-China says Doha Round trade talks at dead end due to US, EU

-China new oil pricing mechanism launched - state planner

-China not plundering Africa’s natural resources - Commerce Minister

-China may announce measures to deflate A-share market after NPC - Deutsche Bank

-Acquisition of China firms by foreigners welcome; needs regulation - minister

-China FAW Group sees 2007 sedan sales surpassing 1 mln units

-State Grid, Tibet government set up power joint venture

-ZTE orders 10 mln usd in telecom equipment from Comtech

-Laiwu Steel parent not aware of regulator rejecting Arcelor deal

TAIWAN:

-Shin Kong Financial Jan-Feb net profit 4.71 bln twd vs 6.52 bln

-Hua Nan Financial Feb net profit 717 mln twd vs 788 mln

-Taishin Financial Feb net profit 600 mln twd vs 1.17 bln

-CAL targets 2007 pretax profit over 2 bln twd vs over 300 mln

-Macronix reaches settlement with Spansion over lawsuit

-Mega declines comment on reported plan to sell Taiwan bank stake

-China Airlines targets 2007 pretax profit over 2 bln twd - co official

SINGAPORE:

-Brothers Group, CEH Shenyang to build homes in China

MALAYSIA:

-Maybank deposit rating raised to ‘A’ from ‘A-’ - Fitch

-Malaysian Resources Corp expects to seal a few land acquisitions by yr-end

-KLK, Glamour seeking resolution to LPF stake dispute

INDONESIA:

-Bimantara 2006 net profit 446 bln rupiah vs 136 bln

-Bimantara’s 2006 net profit up 228 pct on higher sales

-Matahari 2006 net profit 160.50 bln rupiah vs 222.66 bln rupiah

-Matahari 2006 net profit falls 28 pct on finance charges, forex loss

-Mobile-8 2006 net profit 35.16 bln rupiah vs loss 286.70 bln

-Apexindo Pratama increases offshore rigs to six

PHILIPPINES:

-Govt hopes to auction 200-MW power plant on March 30

-Ayala unit Cebu Property Ventures says 2006 net profit up 153 pct

AUSTRALIA & NEW ZEALAND:

-Australia Jan housing finance by volume rises 0.3 pct from Dec

-D&B Feb business survey shows improving sentiment

-Rio Tinto sees investment in new projects as substantially raising copper output

-Rio Tinto sees strong demand for products led by China as output response slow

-Suncorp-Metway proposes 1.17 bln aud entitlements issue

-Sims buys Californian electronics recycling business from Xstrata

-Macquarie Bank deputy chairman to retire

xiaojing.jiang@xinhuafinance.com

jod/zr

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