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☆ Asia off to slow start, lot of easing already priced in
▼ + stars: | 2023-11-20 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged up 0.1%, having climbed 2.8% last week to a two-month high. Japan's Nikkei (.N225) was little changed, and is up almost 9% for the month so far amid upbeat corporate earnings. A LOT PRICED INMarkets have all but priced out the risk of a further hike in December or next year, and imply a 30% chance of an easing starting in March. Futures also imply around 100 basis points of cuts for 2024, up from 77 basis points before the benign October inflation report shook markets. "If another soft print eventuates, expect pricing for ECB cuts to extend beyond the current 100bps of cuts being priced for 2024."

Persons: Issei Kato, Goldman Sachs, Brent nudged, Wayne Cole, Lincoln Organizations: REUTERS, Nikkei, Nvidia, Hamas, Japan's Nikkei, Nasdaq, Tech, Futures, U.S, European Central Bank, NAB, ECB, Thomson Locations: Tokyo, Japan, SYDNEY, Israel, United States, Gaza, Asia, Pacific, October's

☆ Japanese troops drill on island seen as vulnerable to China
▼ + stars: | 2023-11-19 | by ( Tim Kelly | ) www.reuters.com time to read: +2 min

TOKUNOSHIMA, Japan, Nov 19 (Reuters) - Japanese marines in amphibious assault vehicles stormed an island beach at the edge of the East China Sea on Sunday in a simulated attack to dislodge invaders from territory that Tokyo worries is vulnerable to attack from China. Other troops arrived in semi-inflatable rubber boats, with heavy equipment carried to shore on military hovercraft. [1/5]A Japanese Ground Self-Defense Force's Amphibious Rapid Deployment Brigade (ARDB) soldier takes part in a marine landing drill as a part of the country's nationwide 05JX military exercises at Tokunoshima island, Kagoshima prefecture, southwestern Japan, November 19, 2023. Kishida has warned that East Asia could be the next Ukraine, if China, emboldened by Russia's assault on its neighbour, attacks Taiwan. But the yen's sharp decline this year has forced Japan to cut back on some planned purchases, including new models of the U.S.-made Chinook helicopters that Japan's military used in the Tokunoshima drill.

Persons: Yoshihide Yoshida, Issei Kato, Fumio Kishida, Kishida, Tim Kelly, William Mallard Organizations: Self - Defence Forces, Joint Staff, Defence Force, Defense Force, Defense, Rapid Deployment Brigade, REUTERS, U.S, Thomson Locations: TOKUNOSHIMA, Japan, East, Tokyo, China, Russia, North Korea, Tokunoshima, Kagoshima prefecture, Taiwan, Asia, Ukraine, U.S, Beijing

☆ BOJ will debate easy-policy exit when inflation nears target -Gov Ueda
▼ + stars: | 2023-11-17 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Bank of Japan (BOJ) Governor Kazuo Ueda attends a news conference after their policy meeting at BOJ headquarters in Tokyo, Japan April 28, 2023. The fate of the central bank's purchases and holdings of exchange-traded funds (ETF) will also be discussed as and when the BOJ considers an exit from ultra-loose policy, he added. "We will consider ending yield curve control and negative interest rates if we can expect inflation to stably and sustainably meet our 2% target," Ueda told a semi-annual testimony to parliament on Friday. "Trend inflation is likely to gradually accelerate toward our 2% inflation target through fiscal 2025. "If achievement of our price target approaches, we will discuss a strategy and guidelines for exiting ultra-loose policy," including the fate of its ETF holdings, Ueda said.

Persons: Kazuo Ueda, Issei Kato, Ueda, Leika, Shri Navaratnam, Sam Holmes Organizations: of Japan, REUTERS, Bank of Japan, Thomson Locations: Tokyo, Japan, TOKYO

☆ Asia stocks waver, expectations of Fed pause intact after data
▼ + stars: | 2023-11-16 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

U.S. economic data this week has left investors in the same state of confusion about Fed policy as they have been in for weeks. "A period of consolidation seems warranted, especially if Fed officials push back against the recent easing in financial conditions." Australian shares (.AXJO) were down 0.33%, while Japan's Nikkei stock index (.N225) slid 0.36%. On Wednesday, U.S. stocks closed slightly higher, as the inflation data reinforced investor hopes the Fed is done raising interest rates, while retail stocks were boosted by an upbeat forecast from Target. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 4.8991% compared with a U.S. close of 4.916%.

Persons: Issei Kato, HSI, Joe Biden, Xi Jinping, Brent, Julie Zhu, Vidya Ranganathan, Lincoln Organizations: REUTERS, ANZ, Japan's Nikkei, Nikkei, Target, Dow Jones, Nasdaq, Treasury, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, Pacific, U.S

☆ BOJ's hawkish rhetoric signals chance negative rates may end soon
▼ + stars: | 2023-11-15 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

Having watered down YCC at its last policy meeting, the BOJ's next goal is to pull short-term rates out of negative territory early next year, sources have told Reuters. That leaves open the chance of an policy change in January, when the BOJ next reviews its quarterly price forecasts. Most expect an end to both YCC and negative rates. "It's an awfully big upgrade and shows how the BOJ had made estimates that were way too low," said former BOJ top economist Hideo Hayakawa, who expects negative rates to end in April. Even if it ends negative rates, nominal short-term borrowing costs will remain well below levels that neither stimulate nor cool the economy - estimated by analysts to stand somewhere near 2%.

Persons: Issei Kato, Ueda, Kazuo Ueda's, Haruhiko Kuroda, Kuroda, Mari Iwashita, Hideo Hayakawa, Takahide, Leika Kihara, Takahiko Wada, Sam Holmes Organizations: Bank of Japan, REUTERS, Daiwa Securities, Japan Center for Economic Research, Thomson Locations: Tokyo, Japan, TOKYO, U.S

☆ Japanese helicopters train to repel invaders amid nationwide military drills
▼ + stars: | 2023-11-15 | by ( Tim Kelly | ) www.reuters.com time to read: +2 min

[1/4] Japanese Ground Self-Defense Force's (JGSDF) AH-64 Apache helicopter flies over JGSDF's Amphibious Rapid Deployment Brigade (ARDB) soldiers and the U.S. Marines during ARDB's military drill at an uninhabited Irisuna island close to Okinawa, Japan, November 15, 2023. The flight over Irisuna, about 70 kilometres (43.5 miles) from the main Okinawa island, was part of the country's 11-day nationwide 05JX. The drills, which end Monday, also include an air defence exercise in Japan’s north and simulated attacks on five nuclear reactors including the Fukushima plant. Trained to conduct operations from the sea, his unit was established in 2018 to help Japan defend the Okinawa islands, which stretch from the main Japanese islands to close to Taiwan. Japan's increasing defence budget will allow the ARDB to add a third regiment, Nashinoki said.

Persons: Issei Kato, Fumio Kishida, Shingo Nashinoki, Nashinoki, Tim Kelly, Gerry Doyle Organizations: Defense, JGSDF's, Rapid Deployment Brigade, U.S, Marines, REUTERS, Apache, Wednesday, Japan's Self Defence Forces, Japan's, Irisuna, Thomson Locations: Okinawa, Japan, East Asia, China, Russia, East China, South China, Pacific, Taiwan

The logo of Rapidus Corp. is displayed at the company headquarters in Tokyo, Japan February 2, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 14 (Reuters) - Japanese chip foundry venture Rapidus plans to open a sales office in the United States by the end of the financial year. Rapidus is led by veteran chip executives and hopes to manufacture cutting-edge chips by partnering with IBM (IBM.N) and Belgium-based research organisation Imec. The CEO of Imec said last week that what Rapidus is trying to do is "extremely difficult" adding he was "positive" about the prospects for the venture. Reporting by Kaori Kaneko and Sam Nussey; Editing by Chang-Ran Kim and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Rapidus, Taiwan's TSMC, Imec, Kaori Kaneko, Sam Nussey, Chang, Ran Kim Organizations: Rapidus Corp, REUTERS, Rights, IBM, Samsung Electronics, U.S, Thomson Locations: Tokyo, Japan, United States, Belgium, South, Chitose, China

☆ BOJ looks to corp profits, household incomes to boost wages, prices
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 14 (Reuters) - The Bank of Japan (BOJ) will aim to create conditions for raising prices and lifting wages through increases in corporate profits and household incomes instead of cost-push inflation, its deputy governor Shinichi Uchida said on Tuesday. "The BOJ will continue to support economic activity and strive to create an environment wherein it's easy to raise wages," he said during a debate at the parliament's upper house committee on financial affairs. Even with upward pressure on long-term interest rates, the BOJ does not believe the 10-year yield will significantly exceed 1%, said Kazuhiro Masaki, director-general of the central bank's monetary affairs department. Reporting by Satoshi Sugiyama; Editing by Tom Hogue & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Shinichi Uchida, Kazuhiro Masaki, Satoshi Sugiyama, Tom Hogue Organizations: Bank of Japan, REUTERS, Rights, Thomson Locations: Tokyo, Japan

☆ Stocks gain, bonds calm as Fed outlook trumps Moody's downgrade
▼ + stars: | 2023-11-13 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. Tech stocks stood out, as they had in the U.S. at the end of last week, after the calming of long-term Treasury yields since the start of this month boosted the outlook for borrowing-dependent growth shares. The U.S. dollar index hovered below its post-payrolls-report high of 106.01, reached on Friday, last trading little changed around 105.80. "But now, the Treasury market has already priced in a pause, so there's not much room for Treasury yields to fall further," removing a support for the stock market, he added. "In short, I don't think the stock market rally is going to continue."

Persons: Issei Kato, Wall, HSI, Naka Matsuzawa, Kevin Buckland Organizations: REUTERS, Rights, Tech, Federal Reserve, U.S, Japan's Nikkei, Nomura Securities, Treasury, Brent, U.S . West Texas, Thomson Locations: Tokyo, Japan, Asia, U.S, United States, China, Iraq

☆ Japanese island holds disaster drill in shadow of Taiwan threat
▼ + stars: | 2023-11-12 | by ( Tim Kelly | ) www.reuters.com time to read: +2 min

[1/5] Local residents watch an evacuation drill by Japan Self-Defense Forces soldiers on Yonaguni island, Japan's westernmost inhabited island in Okinawa prefecture, Japan November 12, 2023. About 200 island officials and members of Japan's military, known as the Self-Defence Force (SDF), took part in the exercise on Yonaguni, Japan's westernmost island, 2,000 km (1,240 miles) southwest of the capital, Tokyo. "Today we conducted a disaster drill, but it also gives people something to think about that will come in useful in a Taiwan emergency," Sugama said. About 180 Yonaguni residents came to the island's only junior high school to watch the first such exercise in four years. Troops stationed at an island army camp, that was opened in 2016 as part of a programme to reinforce Japan's island outposts, provided lunch and foot baths.

Persons: Issei Kato, Kenichi Itokazu, Koji Sugama, Sugama, Yonaguni, Nancy Pelosi, Fumio Kishida, Tim Kelly, Robert Birsel Organizations: Japan Self - Defense Forces, REUTERS, Sunday, - Defence Force, SDF, Troops, Thomson Locations: Okinawa prefecture, Japan, China, Taiwan, Tokyo, island's, Honshu, Ukraine, Beijing, Japan's

☆ SoftBank’s optimistic talk falls on deaf ears
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

SoftBank Group Corp Chairman and CEO Masayoshi Son speaks during their joint news conference with Toyota Motor Corp President Akio Toyoda (not pictured) in Tokyo, Japan October 4, 2018. REUTERS/Issei Kato Acquire Licensing RightsSINGAPORE, Nov 10 (Reuters Breakingviews) - All credit to SoftBank’s (9984.T) finance chief for trying to accentuate the positive. The weakening currency lopped off 183 billion yen. Taking such a big loss when analysts, per S&P Capital IQ, expected a $1.2 billion profit, though, was. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Masayoshi Son, Akio Toyoda, Issei Kato, Yoshimitsu Goto, SoftBank, Antony Currie, Thomas Shum Organizations: SoftBank Group, Toyota Motor Corp, REUTERS, Rights, Reuters, X, SEC, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Arm’s

The central bank could revise up its price forecasts again in January, which would allow policymakers to justify pulling short-term interest rates out of negative territory, he said. "There's a chance the BOJ could end negative rates as early as January next year, if it judges that inflationary pressure is heightening," Maeda told Reuters in an interview on Wednesday. It also applies a charge to a pool of excess reserves to guide short-term rates at -0.1% under its negative-rate policy. Before adopting negative rates and YCC in 2016, the BOJ was pushing down long-term rates solely with a huge asset-buying programme called "quantitative and qualitative easing" (QQE). "After ending negative rates, the BOJ's policy would look quite similar to when it just had QQE," Maeda said.

Persons: Issei Kato, Eiji Maeda, Maeda, There's, BOJ, Leika Kihara, Gerry Doyle Organizations: Bank of Japan, REUTERS, Rights, Bank of, Reuters, Chibagin Research, Thomson Locations: Tokyo, Japan, Bank of Japan

☆ BOJ debated groundwork for future easy-policy exit at Oct meeting
▼ + stars: | 2023-11-09 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Staff members of Bank of Japan walk between the BOJ headquarters buildings in Tokyo, Japan September 20, 2023. The discussions highlight how the BOJ is looking to exit its decade-long accommodative regime, as prospects of sustained inflation and wage growth heighten. At the Oct. 30-31 meeting, the BOJ kept its ultra-low interest rate targets unchanged but tweaked the yield curve control (YCC) to loosen its grip on long-term interest rates. Another opinion showed how one board member saw prospects of sustainably achieving the BOJ's price target having heightened further since the previous meeting in July. The summary does not disclose the identity of the board member who made the comments.

Persons: Issei Kato, Kazuo Ueda, Leika, Shri Navaratnam, Sam Holmes Organizations: Bank of Japan, REUTERS, Bank, Japan, Thomson Locations: Tokyo, Japan, TOKYO

☆ Nissan more than doubles Q2 operating profit, beating estimates
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

A visitor is seen at Nissan Motor Corp.'s showroom in Tokyo, Japan November 11, 2020. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 9 (Reuters) - Japan's Nissan Motor (7201.T) reported on Thursday it had more than doubled its operating profit for the July-September quarter, beating analysts' estimates, boosted by steady sales in North America and Japan and a weaker yen. The company reported a 127% rise in July-September operating profit to 208.1 billion yen ($1.38 billion), compared with an average estimate of 155.9 billion yen in a poll of 10 analysts by LSEG and a 91.7 billion yen operating profit in the same period a year earlier. The automaker raised its full-year forecast by nearly 13% to 620 billion yen due to a favourable impact of a weak yen and improvements in global retail sales, excluding China. The forecast compared to a 570.1 billion yen average profit forecast in a poll of 19 analysts by Refinitiv.

Persons: Issei Kato, Daniel Leussink, David Dolan, Muralikumar Organizations: Nissan Motor Corp, REUTERS, Rights, LSEG, Refinitiv, Nissan, Renault, Thomson Locations: Tokyo, Japan, North America, China

☆ BOJ Ueda signals chance of exit from easy policy before real wages rise
▼ + stars: | 2023-11-08 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Bank of Japan (BOJ) Governor Kazuo Ueda attends a news conference after their policy meeting at BOJ headquarters in Tokyo, Japan April 28, 2023. "Real wages would likely have turned positive when a positive wage-inflation cycle kicks off," Ueda said. "But in terms of how long we maintain our massive monetary easing ... real wages don't necessarily have to turn positive before that decision is made," he said. "The decision (of ending ultra-loose policy) could be made if we can foresee with some certainty that real wages will turn positive ahead," Ueda told parliament. Ueda said the pass-through of rising import prices must dissipate and that wages and inflation needed to rise in tandem for the BOJ to consider exiting ultra-easy policy.

Persons: Kazuo Ueda, Issei Kato, BOJ Ueda, Ueda, YCC, Leika Kihara, Lincoln, Sam Holmes Organizations: of Japan, REUTERS, Bank of Japan, ., Thomson Locations: Tokyo, Japan, TOKYO

☆ Nintendo to develop 'Zelda' movie in latest entertainment push
▼ + stars: | 2023-11-07 | by ( Sam Nussey | ) www.reuters.com time to read: +2 min

The logo of the Nintendo is displayed at Nintendo Tokyo, the first-ever Nintendo official store in Japan, at at SHIBUYA PARCO department store and shopping mall complex, during a press preview in Tokyo, Japan November 19, 2019. REUTERS/Issei Kato Acquire Licensing RightsTOKYO, Nov 8 (Reuters) - Nintendo (7974.T) said on Wednesday it will develop a live-action film of long running franchise "The Legend of Zelda" in the Kyoto-based firm's latest push beyond its core gaming business. The two men have been working on an adaptation of the "Zelda" franchise for many years but the movie will take time, according to posts on social media by Nintendo. Nintendo said on Tuesday it had sold 19.5 million units of the latest "Zelda" game at September-end as the series continues to deliver hits almost 40 years after its first installment. The "Zelda" movie development comes at a time of renewed appetite for adaptations of Japanese franchises globally, with examples including Netflix's recently launched adaptation of long running pirate manga series "One Piece".

Persons: Issei Kato, Zelda, Mario, Shigeru Miyamoto, Avi Arad, Wes Ball, Sam Nussey, Sandra Maler Organizations: Nintendo, Nintendo Tokyo, REUTERS, Rights, Sony, Thomson Locations: Japan, SHIBUYA PARCO, Tokyo, Kyoto

Hopes for lower borrowing costs overnight helped shares in Asia, which missed out on Friday's rally that was inspired by the U.S. jobs data. DOLLAR DROPSTwo-year Treasury yields , which reflect interest rate expectations, rose 5.9 bps to 4.891% after falling 18 bps last week. The recent retreat in Treasury yields pulled the rug out from under the dollar last week. The dollar index, a measure of the U.S. currency against six others, was steady at 105.07 after sliding 1.4% last week. U.S. crude rose 1.73% to $81.90 per barrel and Brent was at $86.07, up 1.39% on the day.

Persons: Issei Kato, Gennadiy Goldberg, Goldberg, BoE, Samy Chaar, Jerome Powell, Brent, Herbert Lash, Wayne Cole, Alun John, Nick Macfie, Will Dunham, Mark Potter Organizations: REUTERS, Wall, Federal Reserve, TD Securities, Dow Jones, Nasdaq, European Central Bank, Bank of England, Lombard, ECB, The Bank of Japan, ., Palestinian, Hamas, Thomson Locations: Tokyo, Japan, Europe, New York, U.S, Asia, Pacific, Korea, Saudi Arabia, Russia, East, Israel, Gaza

☆ Asia shares extend rally on hopes of early rate cuts
▼ + stars: | 2023-11-06 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

"This year's better-than-expected U.S. supply-side performance raises hopes for a soft landing," said Bruce Kasman, head of economic research at JPMorgan. Futures markets swung to imply a 90% chance the Fed was done hiking, and an 86% chance the first policy easing would come as soon as June. Markets also imply around an 80% probability the European Central Bank will be cutting rates by April, while the Bank of England is seen easing in August. An odd man out is Australia's central bank, which is considered likely to resume hiking rates at a policy meeting on Tuesday as inflation stays stubbornly high. "We look for the Fed Funds rate to fall to 3-3.25%, the ECB depo rate to 3% and BoE Bank Rate to 4.25% by end-2024."

Persons: Issei Kato, Bruce Kasman, disinflation, Jerome Powell, BoE, Brent, Wayne Cole, Sam Holmes Organizations: REUTERS, Nikkei, SYDNEY, Federal Reserve, JPMorgan, Futures, European Central Bank, Bank of, ECB, The Bank of Japan, South, Nasdaq, Fed, NatWest Markets, Sunday, Palestinian, Thomson Locations: Tokyo, Japan, United States, Europe, U.S, Bank of England, Asia, Pacific, South Korea, Saudi Arabia, Russia, East, Israel, Gaza

☆ Bank of Japan members saw no need for new yield control tweaks, September minutes show
▼ + stars: | 2023-11-06 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 6 (Reuters) - Most Bank of Japan board members saw no need for additional tweaks to yield curve control and agreed to continued monetary easing to meet inflation and wage growth objectives, minutes of its September meeting showed on Monday. Board members shared the view that long term interest rates were moving in line with its market operation policy following the central bank's decision in July to make yield control more flexible, the minutes from the September meeting said. At the September meeting, the BOJ turned positive about its view on price growth, although central bank board members remained cautious about policy tweaks, Muguruma added. Several members said abolishing a negative rate and yield control policy would have to be discussed together with any successful achievement of the BOJ's 2% inflation target.

Persons: Issei Kato, Naomi Muguruma, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Tetsushi Kajimoto, Tom Hogue, Sam Holmes Organizations: Bank of Japan, REUTERS, Rights, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Thomson Locations: Tokyo, Japan

[1/2] FILE PHOTO: People hold a rally to protest against Israel's attack on Gaza near the Israeli embassy in Tokyo, Japan October 16, 2023. From the beginning of the conflict, Japan has sought a "balanced" response, in part due to its diverse diplomatic interests in the region and its dependency on the Middle East for oil. A spokesperson for Japan's foreign ministry said it was expected that countries have different positions, but denied that G7 members were struggling to find common ground. A statement issued by G7 trade ministers from a meeting in Osaka late last month did not mention the war. Other group members have issued joint statements.

Persons: Issei Kato, Thomas Gomart, Koichiro Tanaka, Hideaki Shinoda, Israel, Benjamin Netanyahu, It's, Kunihiko Miyake, Tim Kelly, Yoshifumi, John Irish, Andrew Gray, Andreas Rinke, David Brunstromm, Steve Scherer, Miral Organizations: REUTERS, Japan, European Union, French Institute of International Relations, Israel, Health, Hamas, Tokyo's Keio University, United Nations, Tokyo University of Foreign Studies, Canon Institute for Global Studies, Washington D.C, Thomson Locations: Gaza, Tokyo, Japan, TOKYO, Britain, Canada, France, Germany, Italy, United, Israel, United States, Osaka, Russia, Ukraine, China, Iran, Paris, Brussels, Berlin, Washington, Ottawa

☆ Asian stocks stutter ahead of Fed, frail yen in focus
▼ + stars: | 2023-11-01 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. "Once again market players have been left frustrated by the lack of urgency shown by the BOJ, and either closed yen longs or flipped into outright yen shorts." The yen strengthened 0.27% to 151.26 per dollar following the comments but remained close to one-year lows of 151.74 it touched on Tuesday. FED AWAITSOvernight, Wall Street's main indexes ended higher, with investors looking ahead to the Fed policy decision later in the day, when the central bank is expected to stand pat on interest rates. Oil prices inched higher ahead of the Fed decision, with the market keeping a close eye on the latest developments in the Israel-Hamas conflict.

Persons: Issei Kato, HSI, Chris Weston, Masato Kanda, Jerome Powell, Erik Weisman, Powell, Sterling, Brent, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, Federal Reserve, Japan's Nikkei, China, Bank of, ING, Traders, MFS Investment Management, Treasury, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Israel

The world's top-selling automaker reported a record operating profit of 1.44 trillion yen ($9.5 billion) in the three months to end-September, a 155.6% increase from a year earlier. It lifted its full-year profit forecast to 4.5 trillion yen from 3 trillion yen, largely due to favourable effects from foreign exchange rates. Toyota expects the weaker yen to account for 1.18 trillion yen of the revision to the full-year profit. The new projection compared to analysts' average forecast of 4.0 trillion yen. Toyota assumed an average rate of 141 yen per dollar in its calculations for the 2023/24 financial year compared to 125 yen previously.

Persons: Issei Kato, Yoichi Miyazaki, Daniel Leussink, David Dolan, Muralikumar Organizations: Toyota, Japan, REUTERS, Nissan, Honda, EVs, Nikkei, Thomson Locations: Tokyo, Japan, TOKYO, United States, Asia, China, Southeast, Thailand, North Carolina

☆ Samurai trash collectors clean Tokyo streets after Halloween revels
▼ + stars: | 2023-11-01 | by ( Francis Tang | ) www.reuters.com time to read: +2 min

[1/5] Keisuke Naka and Ikki Goto, members of Gomihiroi Samurai (trash-picking samurai) clad in denim yukata, poses for a photograph as they pick up trash on the street of Ikebukuro in the morning after Halloween in Tokyo, Japan November 1, 2023. REUTERS/Issei Kato Acquire Licensing RightsTOKYO, Nov 1 (Reuters) - Trash collectors in samurai costumes took to Tokyo's streets on Wednesday, theatrically wielding garbage tongs and flicking litter left from an evening of Halloween revelry into wicker baskets on their backs. Dressed in hats and boldly patterned black-and-white tunics, the group, known as Gomihiroi Samurai, or trash-picking samurai, has attracted a large fan base since it formed in 2006, with nearly 800,000 followers on video-sharing platform TikTok. Occasions such as Halloween leave a lot of trash, as street drinking has become common in bustling areas and tourist spots, Naka said. Residents of the area say the trash-picking samurai have made a difference.

Persons: Keisuke Naka, Ikki Goto, Issei Kato, Naka, Junya, Francis Tang, John Geddie, Clarence Fernandez Organizations: REUTERS, Rights, Residents, Thomson Locations: Ikebukuro, Tokyo, Japan, Naka

☆ Yield Curve Control Joins the Living Dead
▼ + stars: | 2023-10-31 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

The Bank of Japan has effectively ended its policy of capping 10-year government bond yields at 1%. Photo: ISSEI KATO/REUTERSJapan’s Halloween tweak to its monetary policy didn’t go as far as some yen bulls had hoped. But a stronger yen could still eventually spook global markets—especially if rising U.S. rates keep forcing the Bank of Japan ’s hand. The Bank of Japan effectively abandoned its policy of capping 10-year government bond yields at 1% on Tuesday, saying that level will now be a reference only. But the central bank also said it would conduct “nimble market operations” in response to developments in economic and financial conditions.

Persons: ISSEI KATO, didn’t Organizations: Bank of Japan, REUTERS, Bank of Locations: Bank of Japan

☆ BYD’s Halloween bonanza spooks rivals
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

A BYD U8 is displayed during the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan October 25, 2023. REUTERS/Issei Kato Acquire Licensing RightsHONG KONG, Oct 31 (Reuters Breakingviews) - BYD (002594.SZ), (1211.HK) is delivering a fright to its rivals. The company founded by Wang Chuanfu is expanding its portfolio of premium brands, adding new models for its flashy Denza marque. For rivals trying to compete with the $95 billion group, though, that’s scant consolation. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Issei Kato, It’s, Wang Chuanfu, Bernstein, that’s, Katrina Hamlin, Peter Thal Larsen, Thomas Shum Organizations: Japan, REUTERS, Reuters, Overseas, Investors, BYD’s, X, Vodafone, Thomson Locations: Tokyo, Japan, HONG KONG, HK, China, People’s Republic, BYD’s Shenzhen, Hong Kong, Spain

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