DAP: The breaking news in Cambodia: “Xinhua summary of Asia-Pacific stocks news at 1100 GMT, Oct. 11” plus 9 more

SHANGHAI -- China's benchmark Shanghai Composite Index on the Shanghai Stock Exchange closed at 2,348.52 points on Tuesday, up 3. 73 points, or 0.16 percent, from the previous close.

Total turnover reached 62.77 billion yuan (about 9.89 billion U. S. dollars).

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SHENZHEN -- The Shenzhen Component Index on the Shenzhen Stock Exchange fell 105.27 points, or 1.04 percent, on Tuesday to close at 10,065.47.

Total turnover reached 49.66 billion yuan (about 7.82 billion U. S. dollars).

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HONG KONG -- Hong Kong stocks rose 430.53 points, or 2.43 percent, to close at 18,141.59 on Tuesday.

Turnover totaled 83.60 billion HK dollars (about 10.74 billion U.S. dollars). (1 U.S. dollar = 7.782 HK dollars)

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TAIPEI  -- Taiwan's share prices rose 186.75 points, or 2.58 percent, to close at 7,398.71 on Tuesday, according to news reaching here from Taipei.

Turnover totaled 110.79 billion new Taiwan dollars (about 3.65 billion U.S. dollars).

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VIENTIANE -- The Lao stock market closed on Tuesday with composite index unchanged at 913.79.

A total of 29,750 shares worth about 132 million Lao kip (about 16,000 U.S. dollars) changed hands at the stock market.

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MANILA -- Philippine stocks closed 1.70 percent higher Tuesday.

The benchmark Philippine Stock Exchange index increased by 68. 69 points to 4,109.27. The all-share index went up by 33.77 points, or 1.17 percent, to 2,912.50.

The trade volume reached 7.72 billion shares worth 5.96 billion pesos (137.26 million U.S. dollars).

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SEOUL -- South Korean stocks closed higher Tuesday.

The main Korea Composite Stock Price Index (KOSPI) advanced 28. 58 points, or 1.62 percent, to 1,795.02.

Trading volume stood at 393 million shares worth 7.04 trillion won (6.05 billion U.S. dollars).

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SYDNEY -- The Australian share market ended higher on Tuesday.

The benchmark S&P/ASX200 index gained 26.6 points, or 0.63 percent, at 4,227.6 and the broader All Ordinaries index climbed 26.5 points, or 0.62 percent, to 4,288.8.

Market turnover was 1.68 billion shares worth 4.72 billion AU dollars (4.71 billion U.S. dollars).

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HANOI -- Vietnam's stock market index, VN-Index, closed at 417. 73 points on Tuesday, down 1.93 points, or 0.46 percent, against the previous trading day.

A total of 28.782 million shares worth 443.945 billion Vietnamese dong (VND) (21.27 million U.S. dollars) changed hands at the Ho Chi Minh City Stock Exchange.

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TOKYO -- Japanese share indices surged to a three-week high Tuesday.

The 225-issue Nikkei Stock Average finished up 168.06 points, or 1.95 percent, from Friday at 8,773.68.

Trading volume on the main section fell to 1,566.44 million shares from Friday's 1,618.30 million. Turnover was 1,102.8 billion yen (14.42 billion U.S. dollars).

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WELLINGTON -- New Zealand stocks staged a mild rally in trading on the NZX on Tuesday, after a weak start on Monday.

The sharemarket closed 0.69 percent higher on Tuesday with the benchmark NZX-50 index rising 23.30 points at 3,396.15 and a turnover of 79.48 million NZ dollars (62.11 million U.S. dollars).

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SINGAPORE -- The Singapore stock market finished higher on Tuesday, with the benchmark Straits Times Index (STI) up 24.75 points, or 0.93 percent, to close at 2,693.05.

A total of 1.5 billion shares changed hands with turnover of 1. 5 billion Singapore dollars (1.16 billion U.S. dollars).

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BANGKOK -- The Stock Exchange of Thailand (SET) index on Tuesday moved up 21.63 points, or 2.34 percent to close at 944.80 points.

Some 6.38 billion shares worth 36.78 billion baht (about 1.19 billion U.S. dollars) changed hands.

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KUALA LUMPUR -- The Malaysia stock market ended higher here on Tuesday.

The Kuala Lumpur Composite Index (KLCI) was at 1,411.65 up 14. 61 points or 1.03 percent, and the Emas was at 9,573.56 up 114.51 points or 1.20 percent.

Turnover increased to 1.06 billion shares valued at 1.38 billion ringgit Malaysia (438.37 million U.S. dollars).

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DHAKA -- Bangladesh's Dhaka Stock Exchange All Shares Price Index, the benchmark index, closed at 4,441.73 points Tuesday, down 188.11 points or 4.06 percent from Monday's finish.

Turnover increased to about 3.36 billion taka (about 47.99 million U.S. dollars) on Tuesday.

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NEW DELHI -- Indian benchmark Sensex declined 20.76 points or 0. 13 percent Tuesday on profit taking.

The index slipped into losses from big gains in the early session and concluded at 16.536.47 points with daily high at 16, 774.12 points.

The turnover with Sensex totaled 184.1 million U.S. dollars Tuesday, from 142.2 million U.S. dollars in the previous session.

MANILA, Oct. 11 (Xinhua) -- The Philippine government will earmark 72-billion-peso (1.65 billion U.S. dollars) stimulus package to pump prime the economy next year, a senior government official said on Tuesday.

Presidential Spokesperson Edwin Lacierda said that the funds will be spent on the reconstruction plans and infrastructure projects of the government.

He said President Benigno S. Aquino III will announce the details as to where the funds will specifically be allotted.

"The President will announce them, so let me withhold the details. That was approved yesterday in principle," Lacierda said.

Aquino met his economic managers on Monday when they discussed the growth targets of the administration.

Lacierda said that the stimulus package was different from the funds for the public-private partnership projects.

HANOI, Oct. 11 (Xinhua) -- The Vietnamese Ministry of Education and Training (MET) is preparing necessary procedures to establish Southeast Asian Ministers of Education Organization (SEAMEO) regional training centre in Hanoi in early 2013.

According to a seminar held here on Tuesday by the MET and SEAMEO, the centre is expected to contribute to SEAMEO's commitment in implementing the Asia-Pacific Program of Education for All, the Jomtien Global Declaration on Education for All, Dakar Framework for Action, UN Millennium Development Goals, and UNESCO's 6th conference on adult education.

MET said since 2000, Vietnam has established more than 10,000 communal learning centers across the country to encourage people in learning through various forms. The country has closely cooperated with regional countries in expanding life-long learning.

During the seminar, SEAMEO Secretariat's Deputy Director for Program and Development, Noorhaizamdin Abdulla highly evaluated Vietnam's effort in expanding life-long learning and affirmed SEAMEO was ready to provide the country with technical assistance.

BRUSSELS, Oct. 11 (Xinhua) --- Though European Council President Van Rompuy explained that he postponed European Union and Eurozone summits due to "finalizing a comprehensive strategy on the euro area sovereign debt crisis," analysts tend to believe affection of European banks was the main reason.

The Belgian, French and Luxembourg governments announced their 6.4 billion euros (8.7 billion U.S. dollars) bail-out package to Dexia on Sept. 30, 2008. Almost exactly three years later, the three sides are to bail out the troubled bank again, amid fears it could go bankrupt.

Dexia is the first European bank to collapse under the weight of the current eurozone crisis. Many analysts blame it on the bank's exposure to risky eurozone sovereign debt.

Dexia had 3.4 billion euros invested in Greek government bonds and an estimated 17.5 billion euros worth of sovereign debt issued by Italy, Spain, Portugal and other unstable eurozone economies.

"The disclosure of an important exposure to peripheral eurozone debt may have acted as catalyst," said Cinzia Alcidi, an expert in International Macroeconomics, Monetary Policy, Financial Markets at the Center for European Policy Studies (CEPS) in Brussels.

However, Dexia's main problem is a huge mismatch between long-term lending (10-20 years) and very short-term borrowing in the wholesale market (one day)," Alcidi told Xinhua.

Banks are facing problems because in a crisis situation banks are fearful of lending to other banks. This leads to a domino effect whereby banks cannot resort to short-term financing any longer to guarantee the smooth running of their long term financing commitments.

As the interbank market is quite "cold" lately, Dexia found itself short of funding, said the expert.

So this is what happened to Dexia. With Moody's Investors Service downgrading nine Portuguese banks and two British banks, there are fears this could happen to other banks as well and turn into a systemic banking crisis.

"Although there are quite substantial differences across banks, it is fair to say that liquidity problems can turn into a nightmare when capital is low and this may be the problem also of other banks," Alcidi added.

Policy makers are running to the rescue. German chancellor Angela Merkel met with French President Nicolas Sarkozy on Sunday. The leaders will present a package of changes before the G20's Cannes summit in November.

"Europe will be in the focus of the Cannes Summit," said Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy on Monday in a joint letter.

Markets do not seem to trust what European leaders are doing, especially considering that the crisis at Dexia comes not long after the stress tests the EU run last July for all the major European banks.

Dexia had passed the test, adding to the suspicion that the whole exercise fell short of assessing a real crisis scenario.

"Bank recapitalization in Europe cannot be postponed, it is necessary and urgent," Alcidi suggested.

Recapitalization will be discussed at the European Council and the Eurozone Summit on Oct. 23, according to Van Rompuy.

"Further elements are needed to address the bank recapitalization. These elements are linked to the Commission's plan for a framework for the bank recapitalization, taking into account the work of the European Banking Authority," he said.

Some analysts argue recapitalization will not be enough. "There is need to build firewall around Italy and Spain, basically ensuring that liquidity will be provided if needed, and an orderly restructuring of the Greek debt should take place," explained Alcidi.

Whether these measures will be taken up by policy makers remains to be seen at the European Council on October 23 and the G20 summit in Cannes on November 3 and 4.

KIEV, Oct. 11 (Xinhua) -- Former Ukrainian Prime Minister Yulia Tymoshenko was sentenced seven years of imprisonment by a court for exceeding power in a 2009 gas deal with Russia and squandering public funds, a judicial source said Tuesday.

Judge Rodion Kireev said that in January 2009, then Prime Minister Tymoshenko had "used the power granted to her for criminal purposes and, acting intentionally, committed acts that clearly went beyond the rights, which have led to serious consequences."

The judge said Tymoshenko caused a 190 million-U.S.-dollar loss to state enterprise Naftogaz Ukraine by agreeing a 10-year contract on gas imports from Russia in 2009.

Kireev ordered Tymoshenko should reimburse the state nearly 190 million dollars.

Analysts expect that after such a verdict, Ukraine's relations with Western countries and Russia will become more complicated.

The Interfax-Ukraine News Agency quoted Kireev as saying that Tymoshenko can appeal the sentence in the country's Court of Appeals within 15 days.

Tymoshenko, however, declared she will appeal the verdict in the European Court of Human Rights.

"No sentence can stop me. We will fight and defend my honest name in the European Court, and I am convinced that the European Court of Human Rights will make a legitimate, lawful decision," she said at the court.

Prosecutors charged Tymoshenko in May 2011 for overstepping her powers by signing the 2009 gas deal with Russia. She has been detained since Aug. 5 for contempt of court.

Tymoshenko was the central figure in the 2004 mass protests, or the so-called Orange Revolution, during which current President Viktor Yanukovich had to give up the post of president.

BEIJING, Oct. 11 (Xinhua) -- China and the United States on Tuesday held their second consultation on Asia-Pacific affairs, during which both sides agreed to jointly maintain regional stability and cooperation.

A press release issued after the closed-door consultation said the two countries shoulder common responsibilities and share common interests in maintaining regional stability, promoting economic development, dealing with security challenges and promoting regional cooperation.

The two countries should further enhance communication, coordination and cooperation and endeavor for the region's peace, stability and prosperity, the press release said.

The consultation, co-chaired by Vice Foreign Minister Cui Tiankai and U.S. Assistant Secretary for East Asian and Pacific Affairs Kurt Campbell, saw the leaders discussing issues regarding the two countries' interaction and cooperation in the Asia-Pacific region.

The Chinese side conveyed its concern regarding several issues that may affect bilateral ties with the United States.

The Chinese side said that maintaining the sound and stable development of China-U.S. ties is an important requirement for dialogues and cooperation in the Asia-Pacific region, according to the release.

The Chinese side spoke highly of the progress of bilateral relations since President Hu Jintao's U.S. visit in January.

However, it also voiced strong dissatisfaction and firm opposition to the U.S.'s "interference in China's domestic affairs and infringement upon China's interests," referring to issues surrounding Taiwan, Tibet and the valuation of China's currency, the press release said.

China values its cooperative partnership with the United States, which was settled by the leaders of both countries during Hu's visit, the press release said.

China hopes the United States will respect China's core interests and concerns and cooperate with the Chinese side to promote the sound and stable development of bilateral ties, the press release said.

The U.S. side said it attaches high importance to its relationship with China and is committed to its sound and stable development, the press release said.

The U.S. side also expressed welcome and support for the peaceful development of cross-Strait relations. It will handle its relationship with China from a strategic point of view and strengthen cooperation with China to properly handle disputes, according to the press release.

China also reiterated its stance regarding the South China Sea issue during the consultation.

The two countries held their first consultation on Asia-Pacific affairs in Hawaii in June.

BEIJING, Oct. 11 (Xinhua) -- Premier Wen Jiabao and visiting Russian Prime Minister Vladimir Putin pledged Tuesday to make more efforts to boost bilateral ties during a talk held at the Great Hall of the People in Beijing.

Co-chairing the 16th regular meeting between the two countries' prime ministers along with Putin, Wen said that the Chinese government is willing to work harder with the Russian side to build a comprehensive strategic partnership featuring equality, mutual trust, mutual support and common prosperity between China and Russia.

He also pledged to advance pragmatic cooperation in various areas, as well as boost strategic coordination in a comprehensive way in order to prompt the development of both countries and make contributions to global peace, stability and development.

Putin hailed the unprecedented highs that have been reached in political cooperation and cultural exchanges held between the two countries.

The two sides are willing to seek new solutions for "occasionally occurring" problems, Putin said.

Before their talks, Wen hosted a red-carpet welcome ceremony for Putin, who is in China for a two-day official visit.

The regular meetings between Chinese and Russian prime ministers, first established in 1996, have become an important platform for guiding and coordinating bilateral cooperation.

NEW DELHI, Oct. 11 (Xinhua) -- Next week India and the Asian Development Bank (ADB) will mark 25 years of partnership and discuss ways to keep up the momentum of economic growth in the region, reported the Indo-Asian News Service Tuesday.

Indian Finance Minister Pranab Mukherjee, ADB President Haruhiko Kuroda, finance ministers of the Philippines and Malaysia, senior government officials and eminent economists are likely to attend the event to be held here on Oct. 17, the report quoted a government statement as saying.

Venu Rajamony, Joint Secretary, Department of Economic Affairs of the Ministry of Finance said at the event local officials and foreign guests would discuss ways of further strengthening cooperation to ensure high economic growth in the region.

The Manila-headquartered ADB started lending operations in India in 1986 and has since advanced loans worth 24 billion U.S. dollars for over 150 projects in India.

MANILA, Oct. 11 (Xinhua) -- Outstanding loans of Philippine commercial banks including reverse repurchase agreements (RRPs) rose by 24.8 percent on a year-on-year basis in August to 2.9 trillion pesos (66.82 billion U.S. dollars), according to data issued Tuesday by the local central bank.

Commercial bank loans have been growing at double-digit growth rates since January. On a month-on-month seasonally-adjusted basis, bank lending in August expanded by 2.2 percent for loans inclusive of RRPs.

Loans for production activities, account for 83 percent of commercial banks' total loan portfolio, expanded 21.5 percent in August. This is on back of increased lending to utilities, retail, financial, transportation, construction, real estate and manufacturing businesses.

Growth in consumer loans eased to 13.4 percent on back of slowdown in auto loans.

HANOI, Oct. 11 (Xinhua) -- The Vietnam-Laos Committee for Science and Technology Cooperation held its second meeting here on Tuesday to promote bilateral cooperation in information technology, training and energy.

The meeting was co-chaired by Vietnamese Minister of Science and Technology (MST) Nguyen Quan, and his Lao counterpart Boviengkham Vongdara.

MST has attached importance to cooperative programs with Laos, including those implemented during 2009-2011, which helped Lao scientists and managers improve their capability, build labs and experimental centers, Quan said.

The Lao minister said his country welcomes Vietnam's cooperation in four major areas, including exchanging of information in science and technology, intellectual property, quality measurements and standards, human training in science and technology and exchanging of visits of scientific staff; policy and strategy making and scientific and technological transfer; cooperation in transferring scientific technologies; and promotion of scientific application.

The two ministers signed several documents at the meeting and plans for cooperation in information technology, training and energy between the two countries.