Asia This Day:Diamond Jeweler Expands

China's industrial earnings fell 2.2% year over year in April,a survey across more than 40 industries indicates.The cause is an export slump on account of the Greek crisis and weakened global demand.For 2012,the profit growth is estimated to reach 10-20%,following a 25.4% increse in 2011.China's inflation is at 3.4%,which is below the government target.Former Malaysian Prime Minister Mahatir Mohammad said that if just Greece alone leaves the euro currency,it will not affect Asia that much.It will still be possible to confine the effect to Europe,instead of the rest of the world,Dr.Mahatir believes.On Thursday,the World Economic Forum Asia opens in Bangkok,Thailand.Leaders attending will discuss the region's economic health and how to sustain its growth.Graff Diamonds Corporation,Ltd. is having a one billion dollar initial public offering in Hong Kong.In addition,the London-based jeweler plans to open 11 new stores in Asia,with 8 of them being in China.They already have 18 direct-owned stores worldwide,catering to the super rich.Only 20 customers generate nearly half their revenue.Most Asian markets have opened for trading today,Monday,but South Korea's is closed for Buddha's birthday.The MSCI Asia Pacific Index was down 0.26% in early trading.