China Southern Airlines - China's largest airline by fleet size said it expects first-half net profit to have fallen by more than 50 percent. The airline had reported a 74 percent plunge in first-quarter earnings due to high jet fuel prices and slowing yuan appreciation.

Coming Up This Week:

WEDNESDAY: New Zealand Business PMI, Australian MI Inflation Expectations, Australian Unemployment Rate, Japanese Interest Rate Decision, South Korean Interest Rate DecisionTHURSDAY: Indian Manufacturing Output, Indian Industrial Production, Bank of Japan Press Conference, Chinese Retail Sales, Chinese Industrial Production, Chinese GDP, Chinese Fixed Asset InvestmentFRIDAY: Japanese Industrial Production, Singaporean Retail Sales, Bank of Japan Monthly Report

—By Cheng Lei, CNBC Asia Pacific

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