North Korea cooperation, Nasdaq delisting, and stock drops.
1. China, North Korea step up trade zone cooperation
Beijing and Pyongyang have agreed to accelerate joint development of two trade zones in North Korea during a visit by leader Kim Jong Un's powerful uncle Jang Song Thaek.
The visit by Jang, a vice chairman of the powerful National Defense Commission, marks one of the highest-level diplomatic exchanges between the North and its most important ally since Kim took over following his father's death last year.
2. China's Focus Media considers Nasdaq delisting
Chinese digital media company Focus Media is planning to delist itself from the Nasdaq stock exchange, in a deal potentially worth US$3.5 billion offered by a group of equity fund managers.
According to a press release Monday, the company said that it had received a "going private" proposal from a consortium made up of China's top fund companies including CITIC Capital Partners, FountainVest Partners and China Everbright, and United States buyout fund Carlyle Group.
3. Asian Stocks Drop as mining, Metal Shares Slide on China
Asian stocks fell a third time in four days as earnings disappointed investors amid concerns about Europe’s simmering debt crisis. Steelmakers slid after the world’s biggest ore producer said China’s golden years of economic expansion are over.