| * China's forex reserves reach $3.4tn * IEA cuts oil demand growth forecast * S Korea: central bank resists calls for rate cuts – for now * Emerging Bond Yields Hit Record Lows as Japan Unleashes Stimulus * Bird flu threatens KFC parent's winning streak * Indonesia: having it and eating it? * Uniqlo picks Shanghai for biggest store * Stakes rise in Thailand conflict * Seoul on alert as N Korea moves missiles * African Minerals set to boost production * High Brazil inflation puts focus on rates * Qatar gives Egypt $3bn aid package Markets: mixed China's forex reserves reach $3.4tn
China is once again facing heavy capital inflows after its foreign exchange reserves posted their biggest quarterly increase since the second quarter of 2011.
http://on.ft.com/10UMjkR IEA cuts oil demand growth forecast
The International Energy Agency has revised down its estimate of European oil demand for the second consecutive month and warned that the Cypriot bailout is weighing on the continent's demand for oil.
http://on.ft.com/YN6HpT S Korea: central bank resists calls for rate cuts – for now
Despite the crisis with the North and political pressure for rate cuts to boost flagging growth and push down the won in response to the yen shock, the central bank on Thursday left its policy rate unchanged at 2.75 per cent. But for how long it can resist the calls for cuts is moot.
http://on.ft.com/17rUOZq Emerging Bond Yields Hit Record Lows as Japan Unleashes Stimulus
Borrowing costs in emerging markets sank to record lows as Japan's unprecedented monetary easing spurs demand for higher-yielding assets.
http://bloom.bg/155qVPp Bird flu threatens KFC parent's winning streak
Yum Brands, the biggest foreign fast-food chain operator in China, is in danger of breaking its 11-year streak of double-digit profit growth as it scrambles to deal with food scares and bird flu in its most lucrative market.
http://reut.rs/12JO5tS Indonesia: having it and eating it?
Despite a deteriorating current account, downward pressure on the rupiah and an upward tick in inflation, Indonesia's central bank decided to keep its benchmark interest rate on hold at a historic low of 5.75 per cent on Thursday.
http://on.ft.com/17sry4X Uniqlo picks Shanghai for biggest store
Uniqlo has chosen China, site of recent demonstrations against its home country Japan, to open its largest store later this year.
http://on.ft.com/10TF3nK Stakes rise in Thailand conflict
Thailand's efforts to tackle an intensifying conflict between Muslim separatists and Buddhists in the country's four southern provinces could come undone because of its own handling of the crisis and looming elections in neighbouring Malaysia, say analysts.
http://on.ft.com/10Ys7j3 Seoul on alert as N Korea moves missiles
South Korea has raised its military alert amid growing signs that North Korea may be preparing to launch missiles as its latest provocation on the divided peninsula. The defence ministry said the South Korean and US joint military command had raised its "Watchcon3" status by one level amid "imminent signs" that Pyongyang could fire short- or medium-range missiles.
http://on.ft.com/Yi6GL6 African Minerals set to boost production
African Minerals said it planned to produce the equivalent of 20m tonnes of iron ore a year by midsummer as the west African miner reported widening annual losses.
http://on.ft.com/ZI6Flz High Brazil inflation puts focus on rates
Brazil's inflation rate broke through the top of the central bank's target range in March, strengthening calls for Brazil to end an easing cycle that has driven rates to historic lows.
http://on.ft.com/10TzQML Qatar gives Egypt $3bn aid package
Qatar will grant cash-strapped Egypt an extra $3bn in financial aid, the tiny energy-rich emirate's premier announced on Wednesday in a move that surprised many observers.
http://on.ft.com/16Nf4Ua Emerging Markets
MSCI Emerging Market Index up +0.53% at 1,030 Europe
FTSE up +0.32% at 6,408
RTS down -1.43% at 1,433
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FTSE 300 Eurotop up +0.41% at 1,191 Americas
DJIA up +0.88% at 14,802
S&P 500 up +1.22% at 1,588
Bovespa up +0.49% at 56,187 Asia
Nikkei 225 up +1.96% at 13,549
Topix up +2.34% at 1,147
Hang Seng up +0.30% at 22,101
Shanghai Composite down -0.30% at 2,220
MSCI Asia ex-Japan up +0.85% at 467.39
CNX Nifty up +0.64% at 5,594 Currencies
€/$ 1.31 (1.31)
$/¥ 99.57 (99.77) Commodities
Brent Crude (ICE) down -0.02 at 105.77
Light Crude (Nymex) down -0.14 at 94.50
100 Oz Gold (Comex) down -1.40 at 1,557 | 
