Today's news update are from Ireland, China, Japan, Mexico, Thailand, and Denmark:

*Our buddy in Thailand, Paul Renault, writes:

"Mark Mobius, the emerging markets legend, is bullish on Thailand. He gave an interview not long ago saying how Thailand is his top choice. Informed investors like Templeton funds do well over time despite ignoring smaller caps because they buy into weakness just when most amateur investors are panicked away." Paul specializes in Thai small caps for smaller investors at www.thaistocks.com

I know Mark Mobius from Prof. Barrington Moore's grad seminar in emerging markets history we both took when I was a student at Harvard and Mark was a graduate student at MIT.

*Mallinckrodt reported positive efficacy results in the Phase 3 clinical trial against placebo for its investigational extended-release oral combo of hydrocodone and acetaminophen for managing moderate to moderately severe acute pain where the use of an opioid analgesic is appropriate. MNK-155, the 2-drug product met the primary endpoint and also met pharmacokinetics, safety, and abuse liability targets. The data, including efficacy in a post-surgical acute pain model, will be submitted to the US FDA in a New Drug Application (NDA) in H2 2014. The primary endpoint was the summed pain intensity difference (change in pain from baseline) over 48 hours (SPID48) vs placebo. The most common adverse events were nausea (25%), vomiting, dizziness, headache, constipation, and sleepiness.

*Guangshen Railway is down c2% today, which may be a sign of profit taking. GSH or HK:0525.

*Also down is Nokia, probably for the same reason since it appears to have resolved the Indian tax problem over its Chennai plant which risked derailing the sale of its cellphone production toMicrosoft.

*Canadian Solar is also limping down despite announcing a large module supply contract in China. UteZhenfa New Energy Science & Technology, a designated Chinese energy-saving power generator, is buying modules and equipment for building 3 solar plants in Gansu Province and a 4th in Inner Mongolia (an autonomous region inside China, not to be confused with Mongolia.) Deliveries will start before the end of 2013. The Gansu plants will each produce 200 mW/day and the Inner Mongolian one 50 mW. China is a main solar module market and will buy over 10 gigaWatts of solar power systems in 2014.

Regardless of China's default risk, pollution in major cities (starting with Beijing where the decision-makers hang out) must be addressed with green energy replacing coal.

*Fibra Uno in Mexico City trade is off 2.51%, but the US trading in the REIT as FBASF is up 0.21%. I cannot afford to arbitrage.

*Regarding our Japanese gaming stock, DeNA Co, which we own two ways, I was unable to get a price I consider rewarding and as is often the case on Friday, when the market-maker here cannot unroll its position until Tuesday trading in Japan, the bid ask spread has become bad enough to drive me to "Rage of Bahamut", one of DNACF's violent battle games. It is $20.18 bid and $20.50 asked when the last trade was at $21. It also trades as JP:2432. We own both as a tracking test. Not helping is a weaker yen.

*Our gold bond from Barrick is flat while the stock is up 2.4%, ahead of with the gold price rise. We may have switched prematurely in 06849RAF9.

*Denmark's Bavarian Nordic is launching a 3-yr incentive (bonus) program and issuing warrants on phantom shares to incentivize all employees. This will not dilute our shares of BVNKF. If you leave the company you lose your phantom bonus above the current share price of DKK 9.3/sh. Each warrant is currently worht DKK 16.6 based on a market price of DKK 82. This is calculated on a Black-Scholes model with risk-free interest set at 0.74% and can be exercised into real money in the 2nd half of Jan. 2017. Luckily all employees, not just execs, are automatically enrolled so none of them has to understand this stuff. Moreover new employees may be awarded warrants by the board.

*My brokerage accounts shows mystery meat, 46614T107, which is the former Jardine Fleming China Regional Fund, to be renamed after its manager, John Pierpont Morgan, an arm of Chase. This lets off the managers from producing a net asset value figure at the close.