JAPAN
Yen slides to fresh lows as Japan authorities stick to sidelines
The Australian dollar rose on retail sales data, suggesting a Reserve Bank rate hike, while China's yuan hit an eight-month low due to local authorities' currency tolerance.
Japan's Nikkei rises as tech stocks track US growth shares
The machinery sector outperformed all other segments, leading as the top performer among TSE's 33 industry sub-indexes.
China stocks fall on economic data; HK jumps
Market turbulence as private-sector survey highlights new order concerns, influencing Hang Seng Tech Index performance.
Japan stock ownership by foreigners rises to record 31.8%
Foreign ownership in Japanese stocks reached a record 31.8%, driven by Tokyo Stock Exchange and government initiatives to enhance corporate governance, making the market more attractive with its relatively low valuations.
AI smartphone sales likely to be dull in India in 2024
AI-capable smartphones are projected to constitute only 4-5 per cent of the 152-156 million total smartphone shipments in India this year. Global estimates suggest they will make up 17 per cent of 1.2 billion handsets by 2024. Market experts view smartphones as an ideal platform for AI accessibility due to advancing hardware and software capabilities. However, high prices, starting at $600, may impede widespread adoption in India compared to other markets like China, South Korea, and Japan.
US yields lift dollar and leave yen languishing
Market anticipation grows for potential Australian interest rate hikes, with ING economist Rob Carnell leaning towards forecasting a hike at the August meeting.
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Japan imposes new fees on Mount Fuji climbers to limit tourists
Park rangers on Japan's Mount Fuji launched this year's climbing season before sunrise, implementing new trail fees and capping daily hiker numbers at 4,000 to manage overcrowding. Climbers now pay ¥2,000 ($12) per person amid concerns over litter and trail congestion from last year. The season runs until September 10, aiming to mitigate environmental impact and safety issues, especially among eager "bullet climbers". Despite Japan's tourism boom, authorities seek to balance visitor numbers with sustainable management practices.
JGB yields rise as global politics add to pressure from yen
Japanese bond yields surged on expectations of tighter Bank of Japan policy amid a weak yen. Global concerns over French and U.S. elections drove yields higher. Mizuho Securities forecasts continued increase in bond yields with uncertainty surrounding BOJ's tightening plans and potential rate hike at the July meeting.
Japan launches an advanced Earth observation satellite on its new flagship H3 rocket
Japan deployed an upgraded Earth observation satellite for disaster response and security after it was launched on a new flagship H3 rocket Monday. The H3 No. 3 rocket lifted off from the Tanegashima Space Centre on a southwestern Japanese island and released its payload about 16 minutes later as planned, the Japan Aerospace Exploration Agency, or JAXA, said during a livestream.
Euro rises after France's first-round vote, yen struggles
Recent events in France and Japan, along with global economic indicators, influence currency movements and central bank policies worldwide, reflecting uncertainties in the financial landscape.
North Korea test-launches 2 ballistic missiles, after end of new US-South Korea-Japan drill
North Korea test-fired two ballistic missiles on Monday, following a vow of "offensive and overwhelming" responses to recent US-South Korea-Japan military drills. The missiles were launched from Jangyon, with the first traveling 600 km and the second 120 km. The first missile landed in the waters off Chongjin, while the second likely crashed inland. The test comes amid heightened tensions, with North Korea condemning the "Freedom Edge" drill and asserting defensive measures against perceived threats from the trilateral alliance and regional pressures.
N. Korea condemns drills by US, Japan, S. Korea as 'Asian NATO'
North Korea denounced on Sunday joint military drills by South Korea, Japan and the United States, calling them an "Asian version of NATO" and warning of "fatal consequences". "The US-Japan-ROK relations have taken on the full-fledged appearance of an Asian-version NATO," it said, warning of "fatal consequences".
N. Korea condemns drills by US, Japan, S. Korea as 'Asian NATO'
North Korea has condemned joint military exercises involving South Korea, Japan, and the United States, likening them to an "Asian version of NATO" and warning of severe consequences. The drills, named "Freedom Edge," focused on ballistic missile defense, anti-submarine warfare, and cyber defense. Pyongyang, through its foreign ministry, criticized these exercises as provocative and accused the US, Japan, and South Korea of forming a military bloc against North Korea. The North has historically viewed such drills as preparations for invasion, amid ongoing tensions and cross-border provocations with South Korea.
Why it feels like everyone in the world is heading to Japan right now
Tourism in Japan is booming like never before, with a historic collapse of the yen making travel cheaper. Over 14.5 million visitors arrived in the first five months of 2024, a 70% increase from last year. The weak yen has made everything from dining to hotel stays more affordable.
Japan's Nikkei skids 1% as yen intervention risks rise
Amid market fluctuations, concerns over currency intervention lingered as the yen's value approached key thresholds. Traders closely monitored market dynamics, influenced by various factors including overseas funds' activities. The Nikkei's performance hinged on reclaiming previous highs, signaling a potential shift in market sentiment.
US, Japan, South Korea vow strategic cooperation to boost security, economies
Commerce and trade ministers from the U.S., Japan, and South Korea agreed to cooperate on AI safety, export controls, clean energy, and semiconductor supply chains. U.S. Commerce Secretary Gina Raimondo emphasized the importance of collaboration for global security. Japanese Minister Ken Saito and South Korean Minister Ahn Duk-geun also attended the inaugural meeting, initiated at a Camp David summit. The ministers aim to strengthen supply chain resilience, particularly in semiconductors and critical minerals, and enhance cooperation in cybersecurity and technical standards to counter China's dominance in critical mineral supply chains.
North Korea fires suspected ballistic missile, says Japan; instructs for precaution
Japan issued an emergency alert after a suspected ballistic missile launch by North Korea on Tuesday. The Japan Prime Minister's Office quickly lifted the alert, stating the missile was not expected to reach Japan. Despite the false alarm, the PMO instructed officials to gather and analyze information, ensure the safety of aircraft and vessels, and prepare for contingencies. This incident follows increased missile activity by North Korea, leading the US, Japan, and South Korea to condemn such actions and enhance their strategic cooperation.
Japan sanctions Bengaluru tech company over Russian war 'support'
Japan has sanctioned Bengaluru-based Si2 Microsystems Pvt Ltd, an Indian tech firm, for allegedly supporting Russia's war efforts. This move, part of broader sanctions including firms from China, the UAE, and Central Asia, marks Japan's first targeting of foreign companies over Ukraine-related issues. The sanctions may strain the growing strategic partnership between Japan and India. Si2 Microsystems, involved in various high-tech projects, including government space initiatives, is now under scrutiny. Japan's tougher stance against Russia, influenced by Western pressures, contrasts with its previous policies, recalling sanctions imposed on India after the 1998 nuclear tests.
Japan's Nikkei ends firmer as investors buy shares after sharp drop
Japan's Nikkei share average rose 1% at 38,482.11 on Tuesday, rebounding from a 1.8% drop the previous day. Tokyo Electron and TDK saw significant gains, while uncertainties about the Bank of Japan's policy path affected investor sentiment.
Japan's Nikkei trades 1% higher after sharp drop
Japan's Nikkei share average gained 1% on Tuesday, rebounding from a sharp loss. The broader Topix also rose. Uncertainties about the Bank of Japan's policy path are impacting investor sentiment.
What is STSS? Japan sees record breaking outbreak in deadly bacterial infection
STSS, a severe and fatal bacterial infection, is striking a record in Japan. It claimed 77 lives between January and March of this year.
Japan's 10-year bond yield falls on bets of BOJ's slower pace of rate hikes
Japan's 10-year government bond yield fell on Monday as investors speculated on the BOJ's slower rate hike plans, with the 10-year JGB yield slipping to 0.925% from 0.915%. BOJ announced plans to trim bond purchases and reduce its $5 trillion balance sheet in July. Market expectation is for the BOJ to raise rates in October.
Flesh-eating bacteria that can kill in two days spreads faster than ever in Japan
Flesh-eating bacteria in Japan: A deadly outbreak of Streptococcal toxic shock syndrome (STSS), caused by a "flesh-eating" bacteria, is rapidly spreading across Japan, with Tokyo experiencing a significant surge. STSS can lead to death within 48 hours of infection.
Japan's Nikkei gains as BOJ holds policy steady
Japan's Nikkei share average rallied after the Bank of Japan kept policy settings unchanged, hinting at potential bond purchase reductions next month, with Topix up 0.5%.
Japan's economy is shrinking, although slightly less than previously thought
Japan GDP growth: Revised government data shows Japan's economy shrank at an annual rate of 1.8%, an improvement from the initial estimate of 2.0%. Private sector investments were revised to minus 0.4%. Weak consumer spending, a depreciating yen, and a scandal involving improper vehicle tests at major automakers are among the challenges faced. The Bank of Japan's next move is closely watched.
'Haikyu!!': Comic heroes fuel Japan Olympic volleyball manga mania
"Haikyu!!," the tale of school teams featuring an inspirational comic-book hero determined to beat the odds and his diminutive stature, has sold 60 million copies since its 2012 inception. Turned into a hit anime series, now a new film "Haikyu!!: The Dumpster Battle" has taken 10 billion yen ($65 million) at the Japanese box office and will release in North America this month.
Japan's top rugby competition bucks trends, continues to grow as the game faces headwinds elsewhere
The Japan Rugby League One is experiencing historic growth, adding three new clubs next season, bringing the total to 26 teams across three divisions. Large corporations in Japan are sponsoring teams, and top foreign players are drawn to the league at a younger age, staying longer. This growth is in contrast to financial struggles faced by professional rugby in England, New Zealand, Australia, and elsewhere.
Olympics: US forecast to top medals table for fourth straight Games
The United States is predicted to lead the medals table for the fourth consecutive Summer Games in Paris, with France gaining a significant boost from eighth to third place. The Gracenote virtual medals table, compiled using results data from key global and continental competitions since the Tokyo Olympics, shows the U.S. on top in gold medal count (39) and total medal count (123).
Osaka looking at 'bigger picture' on her tennis comeback
The four-time major winner has not gone beyond the quarter-finals in six tournaments since her 15-month maternity break, with her latest match a third-round defeat to France's Caroline Garcia at the Miami Open last month. Osaka, whose world ranking has risen from 831 to 193 since her return, will play for Japan in their Billie Jean King Cup qualifier against Kazakhstan in Tokyo starting Friday.
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