Asian economic and corporate news summary.

(From AFX UK (Focus))

BEIJING (XFN-ASIA) - A summary of Asian economic and corporate news at 1000 GMT

JAPAN:

-New PM Abe wants summits soon with China, SKorea

-Abe may slow pace of fiscal reform - S&P

SOUTH KOREA:

-Current account deficit widens to 508.1 mln usd in Aug

-Cabinet approves 2007 budget that raises spending on welfare, defence

-Hynix to raise 471.1 mln usd via convertible bond issue

-FSS relays KEB Card stock manipulation findings to courts

-Doosan Heavy wins 177 bln won order from General Electric

HONG KONG:

-Foreign currency bond rating upgraded to 'Aa3' - Moody's

-HSBC unit, other HK banks foreign currency deposit ratings upgraded - Moody's

-HSBC Hong Kong waives homebuyers first 2 mths of mortgage interest payments

-HSBC Jintrust first equity fund raises 1.44 bln yuan in China IPO

-CEC Intl Q1 to July net profit …