Asia This Day:Chinese Economy Still Under Pressure,Premier Says

Japan's machinery orders dropped 14.8%,which is seven times worse than estimates.As well,the current account balance fell about 63%,reflecting a drop in chemical and aerospace orders,and increased imports of liquefied natural gas.The Kansai Electric Ohi nuclear reactor number 3 is now running at full capacity,having been restarted last week,but it only supplies 2% of the country's electricity.A lot of LNG imports will still be needed until other reactors come back into service.
Chinese Premier Wen Jiabao said China will continue to intensify pre-emptive fine-tuning of policy.There are still relatively large downward pressures on the economy.Real estate market controls will continue,as speculation must be stopped.Don't expect such controls to be eased anytime soon.China's inflation declined for the fifth consecutive month below Mr.Wen's 4% target rate,settling at 2.2 %,below the 2.3% estimate.
Shares of Australian miners Iluka Resources and BHP Billiton dropped on fears of a Chinese hard landing and worsening global demand generally.The MSCI Asia Pacific Index was down 0.82% in early Monday trading,while India's Nifty Fifty futures index declined on the Chinese inflation numbers and U.S. jobs stagnation.The Chinese low inflation figures are being seen by analysts as a confirmation of continued weakness.
On a lighter note,South Korean golfer Na Yeon Choi,24,won the Women's U.S. Open at Black Wolf Run in Wisconsin.She survived some harrowing mistakes on the back nine with cool-headed recovery shots,earning her first major victory and her sixth total win on the LPGA Tour.Her countrywoman Amy Yang was second on the leaderboard.
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BHP Billiton Shopping in Brazil

Australian natural resource megafirm BHP Billiton is considering a three billion dollar U.S. bid for Brazilian miner Ferrous Resources do Brasil LTDA.BHP already has an extensive iron ore portfolio.Mid-tier miner stocks were doing well Monday morning in Sydney in response to this merger and acquisition prospect.
The MSCI Asia Pacific Index rose 1.11% early Monday,bolstered by hopeful news out of Europe as the G20 finance ministers promised to have a plan for the Euro debt crisis finalised in a week.
The New Zealand services sector grew more slowly than expected in September.
The dollar/yen was flat on Monday morning,while the euro/dollar fell.
At the Canton Fair in China,the world's largest trade expo,exporters pleaded for the U.S. to stop demanding that the Chinese currency,the yuan,appreciate further.It is at the breaking point for exporters now,one vendor remarked.Any further appreciation would mean no more cheap goods for U.S. retailers and a lot less sales for Chinese suppliers.Everyone would be hurt.
South Korean golfer Na Yeon Choi,soon to turn 24,won the Sime Darby LPGA Malaysia in Kuala Lumpur on Sunday.Taiwan's Yani Tseng,22,the world number one in the Rolex rankings,finished second.It was Choi's fifth career victory on the LPGA Tour,and the 100th win by a woman of Korean descent on the Tour,Choi pointed out.
It was 63F in Sydney on Monday under partly cloudy skies.The wind was S at 16 mph,and the humdity was 48%.
BHP Billiton Ltd.(BHP)