Summer Heat!!!

Dow Jones Industrial Average futures were up three points in screen trade.
The Tokyo market was buoyed by optimism over the U.S. manufacturing data and on buying in exporter stocks as yen weakened against the euro.

All 33 Topix subindexes were higher with Honda Motor up 2.7%, Sony 0.9% higher and Mitsui Fudosan up 3.6%.

Bridgestone advanced 2.9% after it announced a hike in truck and bus tire prices. Hitachi Zosen tacked on 3.2% on a Nikkei report over the weekend that the company has received an order worth an estimated ¥20 billion to build a plant in the U.K.

South Korean tech shares rose as the firm U.S. data raised hopes for stronger global demand-growth, analysts said; Samsung Electronics tacked on 3.0% and LG Electronics added 2.0%. Auto shares were also higher after Hyundai Motor and Kia Motors posted solid sales growth in the U.S. for June; the stocks were up 0.8% and 1.5%, respectively.

In Sydney, BHP Billiton rose 0.9%, Origin Energy added 0.9% and major banks were up 0.7%-0.8%.

Treasury Wine Estates jumped 10% after Bloomberg reported that China's Bright Food is considering a takeover bid.

Murchison Metals bucked the market and slumped 12% after it said costs for the Oakajee iron ore export project, which it jointly manages with Japan's Mitsubishi Corp., have increased by more than a third to A$5.94 billion (US$6.40 billion) and that the first ore won't be delivered until 2015.

Qantas Airways surged 4.1% after Australia's airline safety regulator grounded Tiger Airways Australia flights for a week on safety concerns, and engineers cancelled industrial action against Qantas. Shares of the Singaporean budget airline Tiger Airways Holdings, the parent of Tiger Airways Australia, slumped 8.4% on the Singapore bourse on the regulatory action.

In foreign exchange markets, stronger equities and further progress in resolving Greece's debt crisis drove risk-sensitive currencies higher, with the euro tapping a one-month high of $1.4580 against the U.S. dollar in early Asian trade.

Over the weekend euro-zone finance ministers signed off on a new slice of bailout money for Greece. They also decided they would agree by September on arrangements for a new bailout to supplement the €110 billion package (US$159.79 billion) they agreed on last year, but which fell short, mainly because Greece is unable to raise money in the financial markets, as had been expected.

Investment ideas: commodities and manufacturing.