China National Aviation Corporation, the parent company of Air China, announced in a statement last night that China Eastern and Singapore Airlines Limited should renew talks. CNAC also suggested that the current offer from Singapore Airlines at HK3.80 per share is below the fair value of the company.

CNAC also rejected the anti-dilution rights and non-competitive clause proposed by Singapore Air. Singapore Airlines in early September had agreed to buy a 24% stake worth HK$7.16 billion in China Eastern. China Eastern edged up 2.2% after the comments.

The Standard, an online edition, reported today that Emperor Capital Group managing director Daisy Yeung said today the company has entered into a strategic business tie-up with Jakarta-listed brokerage Hortus Danavest to tap into the Indonesian firm’s 20,000 clients.

Yeung said the company will provide online trading services, while Emperor’s clients will be able to trade Indonesian stocks through Hortus, which has a daily turnover of HK$10 million.

Separately, Emperor Capital Group recorded revenues increase of 33.7% from the previous year to HK$80.9 million for the six months ended September.

Henderson Land Development director John Yip Ying-chee said the company is expected to accelerate earnings beginning 2012 and its current land bank in the mainland China now stands at 120 million square feet.

In other Asian markets, ASX 200 in Australia increased 13.10 or 0.20% to close at 6,434.10. Financial markets in Tokyo were closed today.

In South Korea Kospi Index close at decreased 43.68 or 2.30% to close at 1,853.45, in Thailand SET index closed lower 13.83 or 2.19% to 616.90, and Indonesia JSE Index decreased 14.32 or 0.52% to 2,731.51. Sensex index in India increased 164.59 or 0.81% to close at 20,465.30.

5:00AM New York, 9:00PM Sydney - ASX 200 index rose 0.2% after gains in resource stocks.

ASX 200 index gained 0.2 to close at 6,353.20.

The Preliminary market turnover was 468 million, worth $902.9 million with 464 stocks moving up, 381 moving down, and 316 unchanged.

The most actively traded stock was Flinders Diamonds with 89.7 million shares changing hands worth $12.45 million.

BHP Billiton added 0.4% and Rio Tinto was up 0.04%.

Centro Properties Group''s share rose 3% today after the group said that several groups are interested in its assets. Chairman Brian Healey said that the group was widening the scope to invite other parties into discussions. He said expressions would be sought for a `whole of group review'' including recapitalization, equity issuance or sale of Centro.

Centro last month indicated that it is willing to sell all its assets including its 700 malls in the United State as it struggles to raise money to refinance its A$3.9 billion ($3.4 billion) of debt. It has up to February 15 to refinance the debt. The Group also invited bids for stakes in his Australian and U.S. wholesale funds, which Centro values at a combined $3.7 billion.

Lion Nathan today announced that it has received clearance from the Australian Foreign Investment Review Board (FIRB) for its A$325 million ($286 million) purchase of Tasmanian brewer J. Boag & Son Pty Limited (Boag) from Philippines based San Miguel Corporation.

Lion Nathan also announced that Foster''s Group Limited has agreed to complete the sales of Boag mainland Australia distribution from June 2008 to January 2008.

Boag will pay Foster''s $6.4 million for the early termination of the distribution agreement and Lion Nathan will assume control of Boag mainland distribution in mid-January.

Felix Resources Ltd today indicated that South Korea''s biggest power producer, Korea Electric Power Corporation and partners have agreed to pay $90 million (US$79 million) for 10% of its coal project in Australia.

According to a letter from Felix Resources Ltd to its shareholders, the South Korean investors will also pay for 10% of the development costs for the Moolarben project in New South Wales State.