Asian shares opened mostly higher on Monday,as Federal Reserve Chairman Ben Bernanke's recent remarks on the U.S. economy and the Fed's capacity for aiding it were viewed favorably.China's Sinopec,Asia's biggest oil refiner,posted record profits for the first half of 2011.This was even though they aren't allowed by the government to pass rising costs on to consumers,showing the company's great skill in managing expenses.
China has raised reserve requirements on banks again.The expansion of controls may drain a further 140 billion dollars from the banking system over the next six months.This is on top of previous measures that lifted reserve requirements to a record 21.5% as China attempts to rein in inflation and its trade surplus.
Cathay Pacific has accepted a new 777 airliner from Boeing and has 35 more of them on order.The Hong Kong airline is upgrading its business class with private alcoves that offer more table space and a flat bed for side-sleepers.Cathay says it has gotten fantastic feedback on the new accommodations.
South Korean golfers Hee-Won Han,Na Yeon Choi and Jiyai Shin shared sixth place with Korean American Jenny Shin at the CN Canadian Women's Open in Mirabel,Quebec.American Brittany Lincicome won the event.Jessica Shepley was recognised for lowest score by a Canadian,finishing at one under par.
In Shanghai Monday morning,it was 86F under mostly cloudy skies.Winds were E at 9 mph,and the humidity was 66%.
Boeing(BA),Sinopec(SHI)
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