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Slideshow Follow Reuters Facebook Twitter RSS YouTube Read Obama comes out swinging after debate | 1:41am EDT Kutcher tops Forbes' list of highest paid TV actors 17 Oct 2012 Voters say Obama beat Romney in second debate | 17 Oct 2012 Obama comes out swinging after debate - in swing states | 17 Oct 2012 UPDATE 1-Obama plans election-night rally in Chicago convention center 17 Oct 2012 Discussed 173 Obama gets second chance in debate rematch with Romney 138 Biden and Ryan in high-stakes election debate 96 Jobless claims fall to lowest in four and a half years Sponsored Links Top Asian literary prize seeks new sponsor Tweet Share this Email Print Related News Mantel makes history with second Booker fiction prize Tue, Oct 16 2012 Mantel, Self lead race for Man Booker fiction prize Tue, Oct 16 2012 U.S. economists win Nobel for applying match-making Mon, Oct 15 2012 European Union wins Nobel Peace Prize Fri, Oct 12 2012 China Nobel winner Mo Yan calls for jailed laureate's freedom Fri, Oct 12 2012 Analysis & Opinion Nobel economics prize a welcome nod to match-makers When peace does not mean prosperity Related Topics Entertainment » Fashion » Arts » Lifestyle » China » Thu Oct 18, 2012 3:02am EDT (Reuters) - The Man Asian Literary Prize, a major award for Asian literature, said on Thursday it is seeking a new sponsor after the Man Group Plc withdrew its title sponsorship. The Man Group Plc, which had cut costs this year, also sponsors the Man Booker Prize, one of the most coveted awards for English language fiction. "We have decided to concentrate our arts sponsorship on the world-leading Man Booker prize, where our support is about to go into its 12th year," a Man Group spokesman said in a statement. The inaugural Asian title in 2007 was awarded to China's Jiang Rong for "Wolf Totem." "The prize is doing an incredibly important job for Asian literature. As you can already see with the Mo Yan Nobel Prize, Asian literature is well and truly on the march at the moment," said David Parker, executive director of the Asian Literary Prize. The $30,000 prize is awarded for works by Asian writers written in or translated into English, and is intended to widen exposure of Asian literature in the English-speaking world. "I don't have any concerns that the loss of the Man name for us is going to be a kind of decisive loss of prestige ... we have high visibility in Asia," Parker said, adding that talks had begun with eligible sponsors. South Korean novelist Kyung-sook Shin became the first female to scoop the prize this year with "Please Look After Mom," a tale of a family's search for their mother after she went missing on a subway. The long list for the Man Asian Literary Prize this year will be announced in December. (The story corrects first paragraph to clarify that announcement, not sponsorship withdrawal, occurred on Thursday.) (Reporting By Sisi Tang, editing by Elaine Lies) Entertainment Fashion Arts Lifestyle China Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. 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