Asia This Day:Chinese Investors Make Biggest Ever US Purchase;Tensions Mount With Vietnam

In an historic move,an investing consortium has made the biggest ever US purchase by Chinese investors.The Chinese group has acquired an 80.1% stake in AIG's International Lease Finance Corporation subsidiary,which is a plane-leasing operation,for 4.23 billion dollars.
IFLC is China's largest aircraft lessor,with a 30% market share.The sale is part of AIG CEO Robert Benmosche's plan to reduce the company's debt and refocus on its insurance business.The firm will be concentrating on its global property-casualty insurance and domestic life insurance lines.
Japan's GDP numbers show the country remains mired in a recession.The Nikkei stock index fell 0.5% in response.
China's November export figures rose 2.9%,which was less than expected,while Australia's iron ore exports rose on Chinese demand.
Indian stock futures were up on policy reform expectations.
Vietnamese marched in the streets to protest Chinese claims on territory in the South China Sea.Vietnam had charged that  two Chinese ships harassed and damaged one of its oil and gas survey vessels in the South China Sea,cutting its cables.The incident occurred  off Vietnam's central coast in the last week of November.The Vietnamese foreign ministry said China must respect Vietnam's sovereignty and immediately stop all these wrong actions,and make sure they are not repeated.
Asian shares were mostly higher in early Monday trading,with the MSCI Asia Pacific index up 0.33%.

Asia This Day:Sharp Unloads Plants;Vietnam Worried About China

Japanese electronics titan Sharp is proceeding with restructuring plans.The company had said it was facing a material possibility of liquidation,with a record four year loss.Three of its TV factories were finally sold to Apple outsourcer FoxConn,the Sankei newspaper quoted sources as saying.
The assembly plants in China,Malaysia and Mexico went for approximately 667 million dollars.Sharp had sought approval for the sale from its banks on September 26.The company is also shedding 10,000 jobs as part of its survival strategy.
Vietnam's Deputy Foreign Minister Pham Quang Vinh said that economic force should not be applied to settle China's teritorial disputes with its Southeast Asian neighbours.There has been talk within ASEAN that,in accordance with international law,the normal process of commerce and economic relations would be better than using trade sanctions.
Vietnam plans to meet with other Southeast Asian nations to discuss how to resolve territorial disputes with China,which has threatened to intercept their ships in the South China Sea.
Asian markets were up in Monday morning trading,hitting a seven-month high on good manufacturing and service sector reports out of China,which suggest that the five-year plan growth rate of 7% will be exceeded.New factory orders continued to pick up.
India's manufacturing hit a five-month high,according to its Purchasing Managers Index.Oil prices were also up to a nearly two-year high on the Chinese data.China consumes 11% of the world's oil supply.
The MSCI Asia Pacific index rose 0.44%.

Asia This Day:Petronas To Make Big Canadian Acquisition

The Malaysian state-owned oil and gas company,Petronas,intends to make a major Canadian acquisition.The firm is expected to spend about five billion dollars for a substantial foothold in North America.It's following China's lead in seeking global energy assets.In June 2011,the company aqcuired a stake in Canadian shale gas assets for just over a billion dollars.
China's purchasing managers' index came in stronger than expected.The PMI reading was at 53.1,with 50 showing economic expansion.The index is focused on large enterprises and is affected by seasonality.Natural resources such as rubber and copper will be more in demand on the China and U.S. outlooks.
Tropical Storm Pakhar has hit the coast of Vietnam.The first storm of the year,it will also be troubling Thailand.
Mainland Chinese and Vietnam markets are closed today,Monday,for holidays.It is Tomb Sweeping in China and the Hung Kings' Anniversary in Vietnam.China's markets will remain closed through Wednesday.The rest of the Asian markets opened largely higher this morning,with the MSCI Asia Pacific Index up 0.28%.Japan's markets rose despite a gloomy Bank of Japan Tankan survey of business sentiment,which logged a -4 reading,showing more pessimists than optimists among large businesses.
It was partly cloudy in Kuala Lumpur,Malaysia this morning,with a temperature of 82F.

Asia This Day:Vietnam Prices Soar

Vietnam's inflation is up 22.16%,the highest in the region.Vietnam says it is unlikely it will meet its 17% inflation target.Food and transport costs are up,and raising interest rates didn't help restrain inflation.In Asia generally,higher oil and food expenses,coupled with a tight labor market,are driving inflation higher.
Korean electronics titan Samsung is the global smart phone leader,according to the latest research.The company has sold up to 21 million smart phones,with Apple coming in second and Nokia third.Samsung's Android-based phones are extremely popular.
Australia's Cadel Evans has won the Tour de France cycling event.At 34,he is the oldest winner of the race since 1923.
The New Zealand dollar,the kiwi,is near a record high on concern over the U.S. debt problem.Asian shares were modestly lower this morning,Monday,for the same reason.
In Ho Chi Minh City Saigon,it was 84F under partly cloudy skies.The humidity was 74%,with winds SW at 9 mph.