| * Asia stocks climb after Summers' withdrawal * Bank lending to emerging markets soars to record * EM currencies lifted by easy policy hopes * South Korea probes Celltrion over insider trading * Epidemic of violence triggers Karachi crackdown * Mongolia to Sell Up to $1 Billion in Samurai Bonds, Premier Says * India and US retreat from WTO battle over food security * Vodafone considers acquisitions in India * Shanghai free-trade Zone sparked excitement but is short on specifics * Cathay hits at Qantas and China Eastern * Obama upbeat on Iran nuclear talks after contacting Rouhani * China debt dispute strands cruise ship tourists on Korean island * Markets: up Asia stocks climb after Summers' withdrawal: Larry Summers' abrupt withdrawal from the running to be the next Federal Reserve chief has juiced Asia-Pacific equity markets and currencies.
http://on.ft.com/14Z0J4J Bank lending to emerging markets soars to record: Cross-border lending to emerging markets surged by $267bn, to an estimated $3.4tn, in the first quarter of 2013, the Bank for International Settlements said on Sunday. The BIS said the 8.4 per cent increase was by far the highest recorded, with the amount of interbank lending rising by almost $200bn, or 12 per cent.
http://on.ft.com/19UIkcO EM currencies lifted by easy policy hopes
Emerging market currencies made strong gains on Monday on hopes that easy monetary policy in the US will continue for longer after former Treasury Secretary Lawrence Summers removed himself from the race to chair the Federal Reserve.
http://on.ft.com/18qUexT South Korea probes Celltrion over insider trading
South Korean regulators are investigating whether the chief executive of the country's leading biopharmaceutical company profited unfairly by trading on non-public information, sending shares in Celltrion tumbling.
http://on.ft.com/18qU8Gh Epidemic of violence triggers Karachi crackdown: Armed robberies, shoot-outs between rival gangs and kidnappings for ransom "have become so commonplace that they don't make the headlines any more", complains a prominent Karachi businessman who asks to remain anonymous. "We just live with this as a fact of life."
http://on.ft.com/16uMmZz Mongolia to Sell Up to $1 Billion in Samurai Bonds, Premier Says
Mongolia plans to sell as much as $1 billion worth of Samurai bonds this year and offer foreign investors a new way into its largest coal project as Prime Minister Norovyn Altankhuyag seeks to revive growth.
http://bloom.bg/193Gh52
India and US retreat from WTO battle over food security: Developing nations have made securing a WTO deal to allow government food-buying and distribution programmes for the poor a priority this year. They argue that developing countries need greater flexibility than allowed under WTO rules in setting the prices they can pay to poor farmers and what governments can do with any surplus grains.
http://on.ft.com/16axqfU Vodafone is eyeing acquisitions in India, where it sees itself as a "natural consolidator" once changes to merger rules allow a long-anticipated shake-up in the country's fragmented telecoms market, the UK-based group's chief executive in the country has said.
http://on.ft.com/19TO32t "Enthusiasm over China's plans for a free-trade zone in Shanghai has reached fever-pitch levels..but officials are staying mum on details, and major stumbling blocks remain. Analysts say while companies operating in the 29-square-kilometer zone may benefit from looser capital controls and fewer barriers to trade and investment, it will be years before the testing ground in Shanghai has a more meaningful impact on the world's second-largest economy."
http://on.wsj.com/189YVpv Cathay hits at Qantas and China Eastern: Cathay Pacific, Hong Kong's flag carrier, has become embroiled in an increasingly public dogfight with Qantas Airways and China Eastern Airlines about their plans to launch a budget airline in the Chinese territory.
http://on.ft.com/1eRGRaY Obama upbeat on Iran nuclear talks after contacting Rouhani: The US has opened back-channel communications with the new Iranian leadership in advance of a crucial period of talks over Iran's nuclear programme, which has moved sharply into focus after the weekend agreement on Syria's chemical weapons.
http://on.ft.com/185BOyK "More than 2,300 passengers and crew were stranded on an South Korean island after a court ordered their Chinese cruise ship detained in a $58 million debt dispute."
http://bloom.bg/19VZfeY Emerging Markets
MSCI Emerging Market Index up +1.38% at 1,000 Europe
FTSE up +0.80% at 6,637
RTS up +2.26% at 1,428
Warsaw Wig up +0.29% at 49,493
FTSE 300 Eurotop up +0.74% at 1,259 Americas
DJIA up +0.49% at 15,376
S&P 500 up +0.27% at 1,688
Bovespa up +0.92% at 53,798 Asia
Nikkei 225 up +0.12% at 14,405
Topix up +0.08% at 1,185
Hang Seng up +1.47% at 23,252
Shanghai Composite down -0.22% at 2,231
MSCI Asia ex-Japan up +1.66% at 456.97
CNX Nifty down -0.17% at 5,841 Currencies
€/$ 1.33 (1.33)
$/¥ 98.90 (99.34) Commodities
Brent Crude (ICE) down -2.03 at 109.67
Light Crude (Nymex) down -1.44 at 106.77
100 Oz Gold (Comex) up +5.70 at 1,314 | 
