MARKET EYE-JP Morgan starts Yes Bank with overweight

JP Morgan has started coverage on YES Bank with an 'overweight' rating and a price target of 350 rupees. It expects the bank will be able to deliver a loan growth of 35 percent per annum due to its small base and its focus on wholesale lending. The bank is also expected to sustain its supernormal return on assets at nearly 1.5 percent, the brokerage said in a note. The return on assets will be driven by fees from investment banking and debt syndication, transaction banking and selling third-party products such as insurance and mutual funds, it added. At 2:42 p.m., the stock was down 2.3 percent at 268.50 rupees. Reuters Messaging:sowmya.kamath.reuters.com@reuters.net

Japan Hot Stocks-H2O Retailing, Canon, Nintendo, Komatsu

TOKYO, Jan 28 - The benchmark Nikkei average <.N225> fell 0.9 percent and the broader Topix <.TOPX> lost 1.1 percent on Friday.

Indian bond yields seen ranged; supply eyed

MUMBAI, Jan 28 - Indian federal bond yields are expected to move in a tight range of 4-5 basis points on Friday, as traders will be reluctant to build positions ahead of $2.2 billion debt supply scheduled next week.

Obama urges quick approval of Korea trade deal

* Obama urges vote on Korea deal "as soon as possible"

* Sets no timetable for Panama, Colombia pacts

By Doug Palmer

WASHINGTON, Jan 25 - President Barack Obama on Tuesday called on Congress to pass a free trade agreement with South Korea "as soon as possible," but offered no timetable for action on two other pacts with Panama and Colombia.