PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, May 12 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or Web site editions on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

FINANCIAL TIMES (www.ft.com)

-- Morgan Stanley (MS.N: Quote, Profile, Research) will on Monday announce it has raised a $4 billion private equity fund dedicated to infrastructure projects, the latest move by a fund manager into sectors and countries that have not been affected by the financial crisis.

-- Japan must improve its standards of corporate governance if it wants to stem the decline in investor confidence in the country, a group of the world's most influential institutional investors will warn this week.

-- China has unveiled a state-owned aircraft manufacturer intended to eventually challenge Boeing (BA.N: Quote, Profile, Research) and Airbus's (EAD.DE: Quote, Profile, Research)(EAD.PA: Quote, Profile, Research) control of the global market in large airliners.

WALL STREET JOURNAL (www.wsj.com)

-- Human-rights advocates called on China to pressure Myanmar's government to quickly accept international relief for cyclone victims, drawing attention to Beijing's apparent unwillingness to play a larger diplomatic role in the crisis.

-- Hyundai (005380.KS: Quote, Profile, Research) cancelled a plan to produce pickup trucks in the U.S, in reaction to a major shift by American car-buyers away from trucks to smaller vehicles.

-- South Korea's food scare over U.S. beef escalated, showing how anti-U.S. sentiment is used as a political tool.