TORONTO - The Toronto stock market was higher Thursday as further signs of U.S. economic growth helped lift commodity prices while bank stocks ran ahead even as TD Bank (TSX:TD) delivered quarterly earnings that narrowly missed expectations.
Demographics in the U.S., with a smaller proportion of older people than Japan, could prevent a Lost Decade.
TORONTO - The Toronto stock market was higher Thursday with lift coming from bank stocks even as TD Bank (TSX:TD) delivered quarterly earnings that narrowly missed expectations.
TORONTO - The Toronto stock market found some slight lift from the mining sector Thursday amid rising gold prices and from bank stocks even as TD Bank (TSX:TD) delivered quarterly earnings that narrowly missed expectations.
TOKYO, Sept 2 (Reuters) - The benchmark Nikkei average <.N225> rose 1 percent and the broader Topix <.TOPX> gained 0.6 percent on Thursday.
| Sep 02 | Japan is 'growing ripe' for bout of M&A activity: Goldman Sachs (Japan Times) |
| Japan "is ripe" for more mergers and acquisitions as companies have ample cash and the level of takeover activity is lower than it should be, according to Goldman Sachs Group Inc. Japanese companies should consolidate in industries where there is excessive competition, and be more aggressive in making acquisitions in Asia, where the long-term growth potential is high, Kathy Matsui, chief strategist for Goldman in Japan, said Wednesday. |
| Sep 01 | Stocks rebound after Nikkei hits 16-month low, politics weigh (AP) |
| Tokyo stocks rebounded Wednesday, with the Nikkei index recovering from a 16-month low hit earlier in the day, as the market got some relief from stronger-than-expected economic data overseas and fears receded about further appreciation of the yen. The 225-issue Nikkei Stock Average rose 102.96 points, or 1.17 percent, from Tuesday to 8,927.02. It fell to as low as 8,796.45 at one point, the lowest intraday level since April 30 last year. |
| Aug 31 | JGBs rally as Nikkei dives after easing disappoints (Reuters) |
| Japanese government bonds surged on on Tuesday, with futures erasing the steep losses of the previous two days, as a cycle of stocks slumping amid a strong yen and fuelling a drop in debt yields resumed after easing by the Bank of Japan the day before disappointed. The JGB yield curve flattened as index-following investors, such as passively managed pension funds looking to extend durations for the month's end, scooped up bargains in superlongs after a sharp steepening of the curve over the past few days, which some say had a spillover effect on other G3 government bond markets last week. |
| Aug 30 | Nikkei climbs 1.76% on central banks monetary easing moves (Xinhua) |
| Tokyo stocks rose sharply on Monday, with the key Nikkei stock index climbing back above the psychologically important 9,000 line as Japan's central bank decided to take additional monetary easing steps to combat the yen 's rise and comments by Federal Reserve Chairman Ben S. Bernanke pledging to safeguard the U.S. recovery also lifted investor sentiment. |
| Aug 27 | Tokyo stocks erase losses to end higher on hope for forex steps (AP) |
| Tokyo stocks rose Friday after erasing earlier losses, as expectations grew for Japanese authorities to take steps to counter the export-sapping surge in the yen, but caution about the U.S. economic outlook kept gains in check. After news broke during the lunch break that Prime Minister Naoto Kan will speak about the government's plan to deal with the strength of the yen, stocks entered positive territory, with the Nikkei index briefly rising above the 9,000 mark for the first time since Tuesday. |
| Aug 26 | Nikkei rises 0.69% on bargain hunting (Xinhua) |
| Tokyo stocks on Thursday rebounded from a 16-month closing low a day earlier, with Japan's key Nikkei stock index rising 0.69 percent and snapping a 4-day losing streak as a weaker yen lifted investor sentiment and investors picked up oversold shares on the cheap. The 225-issue Nikkei Stock Average rose 61.09 points from Wednesday to 8,906.48, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 4.48 points, or 0.55 percent, to 811.79. |
| Aug 26 | Leadership vacuum scaring investors (Japan Times) |
| The inaction by authorities to stem the yen's recent advance and prevent Tokyo stock dives has prompted investors to fret over the nation's export-reliant economy. Finance Minister Yoshihiko Noda on Thursday morning finally hinted at possible intervention in the foreign-exchange market - the first in six years - to stem the yen rise. But his talks over lunch with Prime Minister Naoto Kan and Chief Cabinet Secretary Yoshito Sengoku produced nothing, except to increase disappointment among market players. |
| Aug 25 | Tokyo stocks widen losses as hopes wane for action on yen strength (AP) |
| Tokyo stocks extended losses Wednesday, with the key Nikkei stock index hitting a fresh 16-month closing low, as hopes receded that Japan will take action to counter the yen's strength, which is hurting exporters. After falling below the psychologically important 9,000 line a day earlier, the 225-issue Nikkei Stock Average fell 149.75 points, or 1.66 percent, from Tuesday to 8,845.39, the lowest closing level since April 30 last year when it finished at 8.828.26. |
| Aug 25 | First Tokyo carbon credits trade for $142/tonne (Reuters) |
| The first carbon credits in Tokyo's new cap-and-trade scheme traded on Monday for 12,000 yen ($142.2) per tonne, well above market rates for units of the climate-warming gas, Point Carbon News reported. Twenty-two tonnes of carbon dioxide were bought by energy brokers Ginga Energy Japan Co. over an online marketplace operated by CoalinQ, a subsidiary of trading house Sojitz Corp., and Smart Energy Co., Sojitz said. |
| Aug 24 | Nikkei ends at 16-month low below 9,000 on yen worries (AP) |
| The Nikkei stock index closed beneath the key 9,000 mark Tuesday at a nearly 16-month low, as a stronger yen heightened worries about the Japanese economy amid inaction by authorities to rein in the currency's recent advance. The 225-issue Nikkei Stock Average ended 121.55 points, or 1.33 percent, lower from Monday to 8,995.14, the lowest closing since May 1 last year when it finished at 8,977.37. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 7.06 points, or 0.86 percent, to 817.73. |
| Aug 23 | Japanese shares fall to nine-month low (Sydney Morning Herald) |
| Japanese shares dipped to a fresh nine-month low on Monday amid uncertainty over whether Tokyo will adopt further stimulus measures to prop up a sagging economy. The Nikkei index at the Tokyo Stock Exchange fell 0.68 per cent, or 62.69 points, to 9116.69, its lowest close since November 27. The Topix index of all first section shares dropped 0.58 per cent, or 4.80 points, to 824.79. Nikkei futures contracts also fell as investors were disappointed by a brief telephone conversation between Japanese Prime Minister Naoto Kan and Bank of Japan governor Masaaki Shirakawa. |
| Aug 21 | New Jasdaq bourse looks overseas (Japan Times) |
| Osaka Securities Exchange Co. plans to create a new Jasdaq Securities Exchange through alliances with the Korea Stock Exchange and China's Shenzhen Stock Exchange, sources said Friday. Under the alliances, the Chinese and South Korean bourses and Jasdaq will simplify their listing procedures to encourage their domestic companies to list on the other overseas markets. Jasdaq is to be established Oct. 12 by integrating the Osaka bourse's Hercules and Jasdaq markets for startup companies, the sources said. |
| Aug 19 | Tokyo stocks rise on yen's retreat, hopes for BOJ measures (AP) |
| Tokyo stocks gained Thursday as a slightly weaker yen gave the market a boost amid expectations that the Bank of Japan will take additional easing measures to cope with the yen's recent strength. The 225-issue Nikkei Stock Average advanced 122.14 points, or 1.32 percent, from Wednesday to 9,362.68, the highest closing level since Aug 10. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 8.75 points, or 1.05 percent, to 843.98. |
| Aug 19 | Look to Asia ETFs for Growth (The Street) |
| One of our themes at the FRED Report (www.thefredreport.com) has been that the economic growth story is alive and well globally and that astute investors can use ETFs to participate in this international growth. In today's article, we will focus on Asia. One of our favorite ways to measure domestic economic growth vs. multinational growth is to analyze small vs. large cap indices, as most small-cap companies derive their growth from domestic business and not international activities. |
| Aug 18 | Nikkei gains 0.86 pct as U.S. economic fears ease, new stimulus, yen moves eyed (Xinhua) |
| Tokyo stocks rebounded from a three- day losing streak Wednesday, with the key Nikkei stock index advancing 0.86 percent as investors bought back shares deemed oversold as fears about the U.S. economy abated. However, a persistently strong yen against the U.S. dollar and a highly anticipated meeting between Japanese Prime Minister Naoto Kan and Bank of Japan chief Masaaki Shirakawa, pegged for Monday, following the yen's rise to 15-year high logged against the U.S. dollar last week, sent some investors to the sidelines and capped gains, brokers said. |
| Aug 17 | Analysis: Japan Inc bets on M&A, boosted by yen strength (Reuters) |
| The rising yen is helping reignite a push by Japanese companies to snap up overseas assets and secure growth outside their sluggish home market, after the financial crisis quieted their dealmaking last year. Bankers report a strong appetite for deals across all industries -- from Hitachi Ltd (6501.T) hunting for an information technology services firm to brewers seeking growth in Asia and trading houses looking to invest in water and iron ore. |
| Aug 17 | Nikkei closes at nearly 9-month low on strong yen, economic worries (AP) |
| Japan's key Nikkei index closed at a nearly nine-month low on Tuesday as the yen's strength against the dollar continued to weigh on the market amid concern about economic growth at home and abroad. After falling close to the 13-month intraday low logged last week, however, stocks trimmed losses on media reports that Prime Minister Naoto Kan and Bank of Japan Governor Masaaki Shirakawa are likely to meet next Monday in response to the recent rise in the yen. |
| Aug 16 | Nikkei falls 0.61 pct on poor GDP data, strong yen (Xinhua) |
| Tokyo stocks fell Monday with the key Nikkei stock average losing 0.61 percent as data showed Japan' s economy had slowed more than economists' expectations in the April-June quarter and the strong yen's impact on domestic firms' corporate earnings continued to weigh on investor sentiment Monday. Japan's gross domestic product grew a much slower-than-expected 0.1 percent in April-June, or an increase of 0.4 percent on an annualized basis, as export growth flattened somewhat and the effects of government stimulus measures begin to wane. |
| Aug 12 | Tokyo stocks slide on strong yen, global economic worries (AP) |
| Tokyo stocks tumbled Thursday morning, with the key Nikkei index hitting its lowest intraday level in more than a month, as sentiment took a knock from a strong yen that climbed to a 15-year high amid growing worries about the global economy. A day after shedding nearly 3 percent, the 225-issue Nikkei Stock Average lost another 187.65 points, or 2.02 percent, from Wednesday to 9,105.20, the lowest since July 6, when it hit a low of 9,091.70. The broader Topix index of all First Section issues on the Tokyo Stock Exchange shed 15.88 points, or 1.90 percent, to 818.57. |
| Aug 11 | Nikkei closes at 3-week low, Fed plan flusters, BOJ frustrates (Xinhua) |
| Tokyo stocks retreated Wednesday with the key Nikkei stock index falling 2.70 percent to an almost one month low as the yen's strength against the U.S. dollar hurt investor sentiment and the U.S. Federal Reserve's plan to purchase government debt caused jitters about the health of the world's largest economy. The 225-issue Nikkei Stock Average lost 258.20 points, from Tuesday to 9,292.85, the lowest closing level since July 22 when it ended at 9,220.88, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 20.23 points, or 2.37 percent, at 834.45, also finishing at a three-week low. |
| Aug 11 | Why the Japanese see an opportunity in U.S. bonds (Los Angeles Times) |
| The Japanese have experience with debilitating deflation. Some of them apparently are convinced the U.S. is heading down the same path. Japanese investors' purchases of foreign bonds hit record levels in June and July, a rush of money that Wall Street traders say has helped to drive market yields on U.S. Treasury securities down sharply since spring. If you expect deflation rather than inflation, locking in yields on government debt is considered a sure-fire investment strategy -- because interest rates on high-quality bonds are likely to keep falling. That's what the Japanese learned with their own bonds in the late-1990s and again in the last few years. |
| Aug 10 | Nikkei closes 0.22% lower (Xinhua) |
| Tokyo stocks closed slightly lower on Tuesday with the key Nikkei index down 0.22 percent. The benchmark Nikkei 225 Average shed 21.44 points from Monday to 9,551.05. The broader Topix index lost 2.94 points, or 0.34 percent, to 854.68. |
| Aug 09 | Tokyo stocks fall on strong yen after U.S. jobs data (AP) |
| Tokyo stocks fell Monday as a strong yen weighed on exporter shares after weaker-than-expected U.S. jobs data showed the U.S. economic recovery is slow. The 225-issue Nikkei Stock Average dropped 69.63 points, or 0.72 percent, from Friday to 9,572.49. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 3.55 points, or 0.41 percent, to 857.62. |
| Aug 09 | Nomura to launch world's 1st fishery investment fund (AP) |
| Nomura Securities Co. will set up Monday what it says is the world's first investment trust specifically targeting fisheries- related businesses worldwide amid growing demand for fish in many countries. The company said it has judged that fishery-related businesses will grow in the long term. People in the United States and Europe are becoming more health-conscious while fish demand is also expected to rise in emerging countries amid economic growth, it said. |
| Aug 06 | Nikkei closes 0.12% lower (Xinhua) |
| Tokyo stocks closed slightly lower on Friday with the key Nikkei index down 0.12 percent. The benchmark Nikkei 225 Average shed 11.80 points from Thursday to 9,642.12. The broader Topix index advanced 4.08 points, or 0.48 percent, to 861.17. The real estate, air transport and warehouse sectors were among the gainers, while decliners included pulp and paper, retail, and nonferrous metal sectors. |
| Aug 05 | Japan may tap reserves to meet pension costs (Reuters) |
| Japan's government may tap public pension reserves to cover shortfalls in pension benefits expected for the next fiscal year, a newspaper reported on Thursday. The move could affect financial markets because the government agency managing the world's largest pension fund would need to unwind some of its stock and bond investments to raise money to make up for the pension shortfall. |
| Aug 04 | Nikkei gains but loses steam on yen, economy worry (Asahi) |
| Japan's Nikkei average rose 1.3 percent on Tuesday, helped by broad buying on easing worries about the global economic recovery after strong European bank results helped to send Wall Street to a 10-week closing high. But concerns about further improvement in the global economy and the yen's strength limited gains, market players said. |
| Aug 04 | Tokyo stocks open lower on strong yen, U.S. economic woes (Kyodo) |
| Tokyo stocks opened lower Wednesday as a strong yen amid worries about the strength of the U.S. economy weighed on exporter stocks. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 143.36 points, or 1.48 percent, from Tuesday to 9,550.65. |
| Aug 03 | Tokyo stocks rise on eased economic worries, but yen weighs (Kyodo) |
| Tokyo stocks rose Tuesday as worries about the global economy eased on robust earnings from European banks and better-than- expected U.S. manufacturing data. But gains were capped as the yen's strong tone against the dollar kept investors cautious, while the market awaited more economic indicators to assess the strength of economic growth. |
| Aug 02 | Nikkei rises on firm earnings, strong yen caps gains (Xinhua) |
| Tokyo stocks rose higher Monday as the market began to respond to positive corporate earnings although the yen's appreciation and ongoing fears about the health of the U.S. economy prevented further gains. The 225-issue Nikkei Stock Average ended up 33.01 points, or 0. 35 percent, from Friday at 9,570.31, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 1. 19 points, or 0.14 percent, at 850.69. |
| Jul 31 | Three trading houses log growth (Japan Times) |
| Major trading houses Mitsubishi Corp., Sumitomo Corp. and Marubeni Corp. on Friday reported growth in their April-June earnings from the same quarter of last year, when their earnings plunged amid the global recession. Mitsubishi said its group net profit in the first quarter of fiscal 2010 more than doubled from a year earlier to ¥140.43 billion as sales grew 19.2 percent on hikes in resource prices and a recovery in demand for steel products. |
| Jul 30 | Tokyo stocks fall on strong yen despite robust corporate earnings (AP) |
| Tokyo stocks fell Friday as the yen's gain against the U.S. dollar amid worries about the U.S. economy overshadowed optimism from upbeat earnings from Japanese companies. The 225-issue Nikkei Stock Average lost 158.72 points, or 1.64 percent, from Thursday to 9,537.30. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 11.77 points, or 1.37 percent, to 849.50. All 33 sectors on the TSE lost ground, with the real estate sector leading the decline, followed by the iron and steel, and land transport sectors. |
| Jul 29 | Tokyo stocks fall on profit-taking as stronger yen weighs (AP) |
| Tokyo stocks fell Thursday, a day after the key Nikkei index ended at a two-week high, as a stronger yen prodded investors to lock in profits, although losses were limited amid optimism about Japanese corporate earnings. The 225-issue Nikkei Stock Average dropped 57.25 points, or 0.59 percent, from Wednesday to 9,696.02. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 4.24 points, or 0.49 percent, at 861.27. Shares of Panasonic tumbled on dilution worries after reports that the electronics maker has decided to make Sanyo Electric Co. and Panasonic Electric Works Co. its wholly owned units within fiscal 2010 at the earliest. |
| Jul 29 | Japan Inc's latest buying spree (The Economist) |
| Corporate Japan is forging overseas at a faster pace than usual. In recent days, four deals have been announced. Although each is small, and not yet completed, they reveal a lot about the direction that firms are headed in their efforts to globalise and reduce dependence on the anaemic domestic market. In the first half of 2010, Japanese overseas M&A activity has been robust, growing 28% by volume from 2009. Strikingly, the number of Japanese acquisitions in Asia almost doubled compared with the first six months of last year, to reach 73 deals, according to Recof, an M&A consultancy and research firm. |
| Jul 28 | Nikkei rises nearly 2% to above 9,600 on softer yen, strong earnings (AP) |
| Japan's key Nikkei stock index gained nearly 2 percent Wednesday morning to climb above the 9,600 line for the first time in about two weeks, powered by a softer yen and strong earnings reports from Japanese companies. The 225-issue Nikkei Stock Average advanced 178.62 points, or 1.88 percent, from Tuesday to end the morning at 9,675.47 after rising to 9,686.98, the highest intraday level since July 15. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 14.01 points, or 1.66 percent, to 860.13. |
| Jul 27 | Tokyo stocks end flat, corporate earnings results eyed (AP) |
| Tokyo stocks ended almost flat Tuesday as the market awaited a series of earnings reports from Japanese companies this week. After drifting in and out of negative territory, the 225-issue Nikkei Stock Average finished 6.81 points, or 0.07 percent, lower from Monday at 9,496.85. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 0.24 point, or 0.03 percent, to 846.12. The banking sector was the biggest winner, followed by the air transport and textile sectors. Decliners included iron and steel, wholesale, and oil and coal issues. |
| Jul 27 | Japan electronics giants face yen, Europe challenge (Reuters) |
| Most of Japan's big electronics firms are likely to report a strong quarter on robust consumer demand, though the yen's gains and a slowdown in key European export markets may weigh on quarters ahead. Canon Inc (7751.T) is seen doubling quarterly profits on healthy sales of high-end cameras [ID:nTOE66J04U], while cost-cutting and firm demand for consumer products are expected to help Panasonic Corp (6752.T) and Sharp Corp (6753.T) reverse the losses they suffered in the April-June period last year. |
| Jul 27 | Tokyo bourse may extend hours to boost competitiveness (Channel NewsAsia) |
| The Tokyo Stock Exchange (TSE) has said it will consider extending its trading hours to become more competitive. Currently, trading on the exchange is held from 9am to 11am local time before breaking for lunch. The afternoon session begins at 12:30pm and ends at 3pm. That makes up a total of 4.5 hours, which is seen as short compared to other stock exchanges. There are four options the TSE is looking at - to abolish the lunch break or shorten it, launch night trading, extend derivative market's closing time, or begin early morning trading. |
| Jul 27 | Short-selling ban to be extended (Japan Times) |
| The Financial Services Agency said Monday it will extend its ban on a type of stock short selling, currently set to end July 31, until the end of October to help stabilize stock markets. It will be the sixth extension of the restrictions, which were introduced on transactions known as naked short selling in October 2008 amid stock plunges stemming from the financial crisis. |
| Jul 26 | Nikkei closes up 0.77 pct as euro stress tests calm nerves (Xinhua) |
| Tokyo stocks rose Monday with the key Nikkei stock average gaining 0.77 percent on the release of stress tests among European banks easing fears the region's recovery won't stall and a weaker yen gave some export-related issues some relief. The 225-issue Nikkei Stock Average gained 72.70 points from Friday to finish at 9,503.66, the highest closing level since July 15, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 4.59 points, or 0.55 percent, to 845.88. |
| Jul 23 | Nikkei snaps 5-day losing streak on robust U.S. earnings (Xinhua) |
| Tokyo stocks advanced on Friday, with the Nikkei stock index snapping a five-day losing streak as Wall Street rose overnight on upbeat earnings reports and investor 's were confident the results of Europe's eagerly awaited stress tests for European banks would be positive. The 225-issue Nikkei Stock Average finished 210.08 points, or 2. 28 percent, higher from Thursday at 9,430.96, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 15.81 points, or 1.92 percent, at 841.29. |
| Jul 22 | Tokyo stocks fall on Fed chief's pessimism (Xinhua) |
| Tokyo stocks retreated Thursday, with the Nikkei stock index closing at an almost three-week low as a strong yen continued to weigh on some tech and export related issues and a pessimistic economic view given by Federal Reserve Board Chairman Ben Bernanke added to the dour market mood. The 225-issue Nikkei Stock Average dropped 57.95 points, or 0. 62 percent, from Wednesday to 9,220.88, marking the lowest closing level since July 2 and a fifth straight day of decline. |
| Jul 21 | Tokyo stocks fall on U.S. economic fears (Xinhua) |
| Tokyo stocks relinquished gains made in early trade Wednesday, closing down for the fourth consecutive day as investor mood was dourer by ongoing fears about the U.S. economy and a strong yen also weighed on the market. The 225-issue Nikkei Stock Average dropped 21.63 points, or 0. 23 percent, from Tuesday to 9,278.83, its lowest since July 5, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 2.91 points, or 0.35 percent, to 829. 35. |
| Jul 20 | Tokyo stocks retreat on strong yen, poor U.S. earnings (Xinhua) |
| Tokyo stocks retreated for a third day on Tuesday as a strong yen against the dollar hit exporters and poor U.S. earnings reports dashed investor sentiment and caused some tech-related shares to fall, on the first day of trading after Japan's national holiday on Monday. The 225-issue Nikkei Stock Average ended 107.90 points, or 1.15 percent, lower from Friday to 9,300.46, the lowest closing level since July 7, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 8.32 points, or 0.99 percent, to 832.26. |
| Jul 19 | Why Japan has lagged behind (newsystocks.com) |
| "Innovate or die". This theory holds a universal appeal and has time and again manifested itself in varied situations. First, Japanese IT innovation has relied less on software advances than US IT innovation. And second, as a result of this, the innovation performance of Japanese IT firms is increasingly lagging behind that of their US counterparts. Through its various sections, the working paper systematically dwells on this tectonic shift and goes on to do some serious number-crunching to understand its impact on the innovation paper card of American and Japanese tech firms. |
| Jul 19 | Listed firms see 10,687 retire early (Japan Times) |
| Firms listed on stock exchanges sought 10,687 voluntary or early retirements in the first half of the year, down 30.4 percent from a year earlier, a study by Tokyo Shoko Research Ltd. found. The number of companies soliciting applications fell 54.5 percent to 66, reflecting an improvement in business sentiment amid growing demand in emerging countries, including China, the credit research firm said. |
| Jul 15 | Nikkei slips from 3-wk highs on investor economy worry (Reuters) |
| Japan's Nikkei average fell 1 percent on Thursday after hitting three-week highs the day before, hovering near support after a Federal Reserve statement expressing concerns about the U.S. recovery fed investor jitters. Asian stock markets slightly pared falls after data showing China's annual economic growth eased to 10.3 percent in the second quarter, but inflation at the producer and consumer level also eased in June from May, reducing the need for further policy tightening. |
| Jul 14 | Nikkei up nearly 3% to 3-week high on Wall St. gains, Intel earnings (AP) |
| Japan's key Nikkei stock index surged nearly 3 percent to a nearly three-week high Wednesday as an overnight jump on Wall Street boosted investor sentiment and a stronger-than-expected earnings report from bellwether Intel Corp. benefited high-tech shares. Ending at the highest level since June 24, the 225-issue Nikkei Stock Average advanced 258.01 points, or 2.71 percent, from Tuesday to 9,795.24. |
| Jul 13 | Japanese Stocks Decline as Yen Strengthens; Steelmakers Retreat (BusinessWeek) |
| Japanese stocks fell as a stronger yen hurt the outlook for export earnings, while steelmakers retreated on concern China's demand for the alloy will weaken. Fanuc Ltd., an industrial robot maker which gets almost 80 percent of sales abroad, declined 2.1 percent. Nippon Steel Corp. sank 2.3 percent after the Chinese government said it will push for consolidation in the steel industry and curb any rapid increase in output. The Nikkei 225 Stock Average fell 0.1 percent to 9,537.23 at the close in Tokyo. |
| Jul 13 | Why You Shouldn't Invest In Japan (dailymarkets.com) |
| Now that Japan's Nikkei 225 is half the relative price of the S&P 500 - and the cheapest it's been in three decades, investors are flocking to invest in Japan. But, I don't "buy" it - and you shouldn't, either. To be sure, there are still world-class businesses here and many Japanese companies are in the best competitive positions they've been in for years. And yet, bluntly speaking, I've never seen a more-nightmarish situation. |