News Headline Summary

NEWS STORIES OF NOTE FROM OVER THE EU/US SESSIONS:

RUSSIA/UKRAINE

- Russian President Putin told multiple EU states that gas would not be supplied to Europe as of June 1st if Ukraine does not pay for deliveries, according to Slovak PM.
- Russia look to hold large military drills on the Ukrainian border throughout Presidential elections. As a guide, Ukraine's Presidential election is scheduled on May 25th

CHINA

- China is the most undervalued major equity market in Asia, according to analysts at SocGen. They added that they do not see any major policy stimulus and sees 50bp cut in reserve requirement ration in Q2

- China bank regulator says banks non-performing loan ratio at 1.04% at end March.

INDIA

- India Central Bank chief Rajan says RBI ready to infuse liquidity into market if need arises and have discussed contingency plans with finance minister and Securities and Exchange Board of India on election day.

Print 21:28, 15 May 2014 - Asian News - Source: RANsquawk