ASIAN SUMMARY: Regional markets rise ahead of Wednesday's European Union summit where leaders are expected to discuss measures to promote growth and ways to keep Greece in the euro zone; the Nikkei rises 1.1%, the S&P/ASX is up 1.1%, the HSI gains 1.3%, the Kospi gains 1.7%, the Taiex rises 1.2%, the Sensex is up 0.7%, the Shanghai Composite gains 0.8% and the STI is up 1.4%. In FX markets, the EUR is slightly weaker as a tentative revival of risk sentiment cooled off and players focused on Wednesday's EU summit. The EUR/USD is at 1.2795 from 1.2818 late Friday in New York, the EUR/JPY is at 101.62 from 100.98, and the USD/JPY is at 79.43 from 79.03. Japan's finance minister reiterates that he wants the BOJ to act appropriately at the right time, ahead of the start of the central bank's two-day policy meeting later in the day. Korea's overseas liabilities totaled $411.4 billion at the end of March, up $13 billion from the end of 2011, though the ratio of short-term external debt to Korea's FX reserves fell to 43.1%--its lowest in nearly six years--from 44.4% at the end of 2011. The Hong Kong Monetary Authority further eased restrictions on banks' yuan trading; the city's de facto central bank said in a circular to local banks that their net open positions in yuan are no longer limited to 20% of their assets or liabilities denominated in yuan. Spot gold is at $1,589.40, down $3.00 from the NY close. June Nymex crude oil futures are up 26 cents at $92.83/bbl.
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