PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, Aug 29 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or Web site editions on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

FINANCIAL TIMES (www.ft.com)

-- Toyota Motor (7203.T: Quote, Profile, Research) cut its 2009 sales forecast by 700,000 vehicles, about 7 per cent, as it acknowledged that the downturn in the U.S. car market would last at least until the end of next year. It now expects to sell 9.7 million cars and trucks worldwide next year instead of 10.4 million

-- Bank of China (3988.HK: Quote, Profile, Research) has cut its portfolio of securities issued or guaranteed by troubled U.S. mortgage financiers Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research) by a quarter since the end of June

-- Merrill Lynch's MER.N losses in the past 18 months amount to about a quarter of the profits it has made in its 36 years as a listed company, according to Financial Times research that highlights the extent of the global banking crisis

WALL STREET JOURNAL (www.wsj.com)

-- China and Iraq reached a $3 billion oil-field development deal, the first major foreign oil contract struck with the Iraqi government since the 2003 U.S.-led invasion