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A woman looks at items at a shop in Tokyo, Japan, March 24, 2023. The Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, rose 2.5% in September from a year earlier, against a median market forecast for a 2.6% gain. It slowed from a 2.8% increase in August but exceeded the Bank of Japan's 2% target for the 16th straight month. Analysts expect inflation to keep slowing in coming months reflecting recent declines in commodity prices and the base effect of last year's sharp rises. The inflation overshoot led the BOJ to make modest tweaks to its bond yield control policy last month, a move investors saw as a shift away from decades of ultra-loose monetary policy.

Persons: Androniki, Kazuo Ueda, Leika Kihara, Sam Holmes Organizations: REUTERS, Bank of Japan's, Thomson Locations: Tokyo, Japan, TOKYO

☆ Verstappen beats Piastri to Japanese GP pole
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +1 min

Formula One F1 - Japanese Grand Prix - Suzuka Circuit, Suzuka, Japan - September 23, 2023 Red Bull's Max Verstappen in action during qualifying REUTERS/Androniki Christodoulou Acquire Licensing RightsSUZUKA, Japan, Sept 23 (Reuters) - Formula One championship leader Max Verstappen put Red Bull on pole position for the Japanese Grand Prix on Saturday with McLaren's Oscar Piastri joining the Dutch driver on the front row. McLaren's Lando Norris qualified third with Ferrari's Charles Leclerc fourth. Mexican Sergio Perez, Verstappen's closest title rival and team mate but a massive 151 points adrift after 15 of 22 rounds, qualified fifth. Red Bull, whose run of 15 wins in a row ended in Singapore last weekend, are set to retain their constructors' title on Sunday but Verstappen will have to wait until at last the next race in Qatar to seal his third championship. Writing by Alan Baldwin in London, editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Max Verstappen, Androniki, Red Bull, McLaren's Oscar Piastri, McLaren's Lando Norris, Ferrari's Charles Leclerc, Mexican Sergio Perez, Verstappen's, Verstappen, Alan Baldwin, Peter Rutherford Organizations: Suzuka, REUTERS, Thomson Locations: Suzuka, Japan, Mexican, Singapore, Qatar, London

☆ Toshiba says $14 bln takeover bid by JIP succeeds, set to go private
▼ + stars: | 2023-09-21 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +3 min

TOKYO, Sept 21 (Reuters) - Toshiba (6502.T) said on Thursday that a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP) had ended in success - a deal which paves the way for the embattled industrial conglomerate to go private. "Activist shareholders and Toshiba were stuck with each other for years. Toshiba in March accepted the buyout offer valuing the industrial conglomerate at 2 trillion yen ($13.5 billion). Although some shareholders were unhappy with the price, Toshiba argued that there was no prospect of a higher offer or competing bid. Deals involving private equity have been particularly active, including a planned $6.4 billion buyout of materials maker JSR by a government-backed fund.

Persons: Travis Lundy, Taro Shimada, Androniki, Shimada, Lundy, JIP, Sony Group's, chipmaker Rohm, Makiko Yamazaki, Edwina Gibbs Organizations: Toshiba, Japan Industrial Partners, Quiddity Advisors, Toshiba Corporation, REUTERS, Sony, Chubu Electric Power, Thomson Locations: TOKYO, Kawasaki, Japan, Asia

☆ Toshiba says $14 bln takeover bid by JIP has succeeded
▼ + stars: | 2023-09-21 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. The deal puts the electronics-to-power stations maker in domestic hands after years of battles with overseas activist shareholders. Toshiba in March accepted the buyout offer valuing the industrial conglomerate at 2 trillion yen ($13.5 billion). Although some shareholders were unhappy with the price offered, Toshiba argued that there was no prospect of a higher offer or competing bid. Although not well known overseas, JIP has been involved in corporate carve outs and spin offs from Japanese conglomerates, including Olympus' (7733.T) camera business and Sony Group's (6758.T) laptop computer business.

Persons: Androniki, Taro Shimada, JIP, Sony Group's, Shimada, chipmaker Rohm, Makiko Yamazaki, Christopher Cushing, Edwina Gibbs Organizations: Toshiba Corporation, REUTERS, Rights, Toshiba, Japan Industrial Partners, Olympus, Sony, Chubu Electric Power, Thomson Locations: Kawasaki, Japan

☆ JIP gains 78.65% stake in Toshiba through tender offer
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: 1 min

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Sept 21 (Reuters) - A consortium led by private equity firm Japan Industrial Partners (JIP) acquired 78.65% of Toshiba (6502.T) through a tender offer, the company said, coming a step closer to completing the $14 billion deal to take the company private. Ownership of more than a two-third majority would be enough for the JIP group to squeeze out remaining shareholders. Toshiba is now set to be delisted as early as December, ending its 74-year history as a listed firm. Reporting by Makiko Yamazaki; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Makiko Yamazaki, Kim Coghill Organizations: Toshiba Corporation, REUTERS, Rights, Japan Industrial Partners, Toshiba, Thomson Locations: Kawasaki, Japan

☆ JIP says $14 bln tender offer for Toshiba set to succeed
▼ + stars: | 2023-09-20 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Sept 20 (Reuters) - A $14 billion tender offer to take Toshiba (6502.T) private is set to succeed, private equity firm Japan Industrial Partners (JIP) said on Wednesday, clearing the way for Japan's biggest deal this year. JIP's tender offer, which closed on Wednesday, ends Toshiba's 74-year history as a listed firm and puts the electronics-to-power stations maker in domestic hands after years of battles with overseas activist shareholders. "It is forecasted that the tender offer will be successful," JIP said in a statement, suggesting that at least two-thirds of shareholders have tendered their shares. The final results of the tender offer will be announced once they are finalised, JIP added. Now that JIP has gained a two-third majority, the remaining shareholders would be squeezed out upon a vote at a planned emergency shareholder meeting.

Persons: Androniki, JIP, JIP's, LSEG, Makiko Yamazaki, Louise Heavens, Sharon Singleton Organizations: Toshiba Corporation, REUTERS, Rights, Toshiba, Japan Industrial Partners, Japan's, Effissimo Capital Management, Tokyo, Thomson Locations: Kawasaki, Japan, Asia

☆ Toshiba wins shareholder support for JIP's $14 bln takeover offer
▼ + stars: | 2023-09-20 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +1 min

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Sept 21 (Reuters) - A consortium led by private equity firm Japan Industrial Partners (JIP) gained 78.65% of Toshiba (6502.T) through a tender offer, Toshiba said, coming a step closer to completing a $14 billion deal to take the company private. Toshiba is now set to be delisted as early as December, ending its 74-year history as a listed firm. Toshiba "will now take a major step toward a new future with a new shareholder". Since 2015, Toshiba has been battered by accounting scandals, suffered heavy loss and came close to being delisted.

Persons: Androniki, JIP, chipmaker Rohm, Taro Shimada, Makiko Yamazaki, Kim Coghill, Christopher Cushing Organizations: Toshiba Corporation, REUTERS, Rights, Japan Industrial Partners, Toshiba, Thomson Locations: Kawasaki, Japan

☆ Toshiba's top investor to sell stake in JIP offer, source says
▼ + stars: | 2023-09-15 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Sept 15 (Reuters) - Toshiba's (6502.T) largest shareholder Effissimo Capital Management has decided to tender its 9.9% stake in the $14 billion takeover offer by Japan Industrial Partners (JIP), a source said on Friday, raising the odds of the bid succeeding. The offer, which will end on Sept. 20, needs at least two-thirds of shareholders to tender their shares for it to succeed. Other major shareholders, Elliott Management and Farallon Capital Management, both have their executives on Toshiba's board which has unanimously approved the JIP takeover. Singapore-based fund 3D Investment Partners, previously Toshiba's second-largest shareholder, revealed in a filing in March that it had cut its stake to 4.90% from 7.20%. Sources have said top activist shareholders were eager to exit, even though the offer price was unsatisfactory.

Persons: Androniki, JIP, Effissimo, Elliott, Makiko Yamazaki, Kantaro Komiya, Neil Fullick Organizations: Toshiba Corporation, REUTERS, Rights, Effissimo Capital Management, Japan Industrial Partners, Toshiba, Elliott Management, Farallon Capital Management, Major Toshiba, Partners, Investment Partners, Westinghouse, Thomson Locations: Kawasaki, Japan, Singapore

☆ Asian stocks climb as traders shrug off inflation surprise
▼ + stars: | 2023-09-14 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Fed funds futures hardly budged on the inflation data, and imply nearly no chance of a rate hike next week, and about a 45% chance of another hike by year's end. The S&P 500 (.SPX) rose 0.1% and futures rose 0.2% in Asia. European futures were flat. The euro has been supported this week by creeping expectations for the European Central Bank to hike rates on Thursday, though analysts say it may struggle for further gains. The New Zealand dollar was also firmer at $0.5941, while the dollar slipped about 0.2% to buy 147.11 yen .

Persons: Androniki, Glenn Yin, HSI, Brent Donnelly, it's, Kazuo Ueda, Shri Navaratnam Organizations: Nikkei, REUTERS, Rights, European Central Bank, Tokyo's Nikkei, Treasury, ., New, AETOS Capital Group, Arm Holdings, EU, Spectra Markets, New Zealand, Bank of Japan, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, New York, Melbourne, Saudi Arabia, Russia, Australia

European stocks (.STOXX) fell as much as 0.5% in early trading, with rate-sensitive tech stocks (.SX8P) losing 0.8%. And the latest spike in oil prices to 10-month highs is unlikely to escape the Fed's attention. Fuelling worries over persistent inflation were oil prices, which firmed after hitting a 10-month peak a day earlier. ECB HIKE BETSThe euro was down 0.1% at $1.074, after nearing one-week highs on the Reuters story which was published late on Tuesday. "The leak raises the possibility of a hawkish hike which would be much more supportive for the EUR," said Steve Englander, global head of G10 FX research at Standard Chartered, referring to the Reuters report.

Persons: Androniki, Robert Alster, you'll, Steve Englander, Tom Wilson, Stella Qiu, Shri Navaratnam, Christina Fincher Organizations: Nikkei, REUTERS, Consumer, Index, Federal Reserve, Management, European Central Bank, Reuters, ECB, Nasdaq, Brent, U.S, West Texas, Markets, Standard Chartered, Thomson Locations: Tokyo, Japan, SYDNEY, Asia, Pacific, London, Sydney

☆ Asian shares slip, oil hold gains ahead of US inflation test
▼ + stars: | 2023-09-13 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Both S&P 500 futures and Nasdaq futures were mostly unchanged. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 0.3% while Tokyo's Nikkei (.N225) eased 0.1%. While core CPI is seen cooling to 4.3% year-on-year in August from 4.7%, rising energy costs are forecast to keep headline inflation elevated at 3.6%. And the latest spike in oil prices to ten-month highs is unlikely to escape the Fed's attention. On Wall Street, the S&P 500 fell 0.6% overnight, the Nasdaq declined 1% while Dow Jones was mostly flat.

Persons: Androniki, Ray Attrill, Dow Jones, Steve Englander, Stella Qiu, Shri Navaratnam Organizations: Nikkei, REUTERS, Apple, Oracle, Thursday SYDNEY, European Central Bank, Reuters, ECB, Nasdaq, Tokyo's Nikkei, Consumer, Index, Federal, Fed, National Australia Bank, Brent, U.S, West Texas, Standard Chartered, Thomson Locations: Tokyo, Japan, Europe, Asia, Pacific

☆ Markets await U.S. inflation test, surging oil add to price jitters
▼ + stars: | 2023-09-13 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was flat while Tokyo's Nikkei (.N225) eased 0.2%. Australia's resource-heavy shares (.AXJO) lost 0.7%, Chinese blue-chips (.CSI300) were flat but Hong Kong's Hang Seng index (.HSI) moved 0.6% higher. While core CPI is seen cooling to 4.3% year-on-year in August from 4.7%, rising energy costs are forecast to keep headline inflation hot. And the latest spike in oil prices to ten-month highs is unlikely to escape the Fed's attention. Oil prices extended gains on Wednesday.

Persons: Androniki, HSI, Ray Attrill, Dow Jones, Stella Qiu, Shri Navaratnam Organizations: Nikkei, REUTERS, Apple, Oracle, Thursday SYDNEY, Reuters, European Central Bank, Consumer, Index, Federal, Fed, National Australia Bank, Brent, . West Texas, Nasdaq, ECB, U.S, Thomson Locations: Tokyo, Japan, Asia, Pacific

☆ Asia stock markets weaken amid ongoing retreat from Chinese property sector
▼ + stars: | 2023-09-11 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +5 min

A man walks past an electronic board showing Japan's Nikkei average and stock prices outside a brokerage, in Tokyo, Japan, March 17, 2023. Australian shares (.AXJO) reversed earlier losses to be up 0.12% and Japan's Nikkei stock index (.N225) slid 0.19%. The Hang Seng Property Index (.HSNP), a gauge of Hong Kong's top developers, shed almost 4% while the mainland property index (.HSMPI) was off 3.24%. "We need the property market to stabilize first in order for any meaningful kind of economic rebound to happen in China," said David Chao, Invesco's Asia Pacific market strategist. Those should put a floor under the property market some time soon."

Persons: Androniki, David Chao, Daniel Zhang, Brent, Scott Murdoch, Edwina Gibbs, Simon Cameron, Moore Organizations: Nikkei, REUTERS, Rights, Alibaba, HK, Index, Chevron, Thomson Locations: Tokyo, Japan, Asia, China, Pacific, Hong Kong, Asia Pacific, Beijing, Shanghai, Shenzhen, United States, Wells, Australia, Sydney

☆ BOJ policymaker calls for keeping ultra-easy policy, sets high bar on exit
▼ + stars: | 2023-09-07 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

As a result, it was hard to say when inflation could hit the bank's 2% inflation target in a sustainable manner, she said. "But we're not at a stage where we can judge that Japan has achieved our price target in a stable, sustainable fashion." The BOJ has defined sustainable inflation as price rises driven not by rising raw material costs, but strong domestic demand accompanied by continued wage increases. But she laid out in detail the conditions for ending negative rates. "When we see many people share prospects that wages will keep rising, we may be able to exit (negative rates)," she added.

Persons: Androniki, Nakagawa, Bank of Japan policymaker Junko Nakagawa, Haruhiko Kuroda, We're, Kazuo Ueda, Leika Kihara, Tom Hogue, Kim Coghill, Emelia Organizations: REUTERS, Bank of Japan, Thomson Locations: Japan, Tokyo, KOCHI, Kochi

☆ BOJ policymaker calls for keeping ultra-easy policy for now
▼ + stars: | 2023-09-07 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

An office employee walks in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. An increasing number of Japanese companies were raising prices and wages, Nakagawa said, adding that there was a chance inflation could accelerate more than initially expected. But there was also a risk inflation could slow once the pass-through of higher costs moderate, she said. "But we're not at a stage where we can judge that Japan has achieved our price target in a stable, sustainable fashion." Reporting by Leika Kihara; Editing by Tom Hogue and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Bank of Japan policymaker Junko Nakagawa, Nakagawa, Kazuo Ueda, Leika Kihara, Tom Hogue, Kim Coghill Organizations: REUTERS, Rights, Bank of Japan, Thomson Locations: Japan, Tokyo, Rights KOCHI, Kochi

☆ Morgan Stanley names this stock as its top pick of European banks – giving it 35% upside
▼ + stars: | 2023-09-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Morgan Stanley has named Societe Generale as its top stock pick among European banks, seeing 35% upside for the French lender. The investment bank's analysts upgraded SocGen to an "overweight" rating and named it a top pick alongside ING Groep of the Netherlands and CaixaBank of Spain. GLE-FR .FCHI YTD line The analysts said European Central Bank (ECB) interest rates have likely peaked after aggressive hikes over the past year. Morgan Stanley forecasts a 13% average growth in European banks' earnings per share plus dividends in 2024 and 2025. Morgan Stanley sees room for cost cuts from internal mergers underway.

Persons: Morgan Stanley, SocGen, Alvaro Serrano, Michael Christodoulou, Christodoulou, CNBC's Michael Bloom Organizations: Societe Generale, ING Groep, European Central Bank Locations: Europe, Netherlands, Spain, 2Q24, France

☆ BOJ policymaker sees shift in Japan's deflationary mindset
▼ + stars: | 2023-09-06 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Policymaker Takata stressed the need to maintain ultra-loose monetary policy for the time being, as slowing global growth was heightening uncertainty on whether the Bank of Japan's (BOJ) 2% inflation target was sustainably achievable. In an earlier speech, he said he believe Japan's economy was "finally seeing early signs" of achieving the 2% target. Two other BOJ board members earlier gave diverging views on how soon the central bank should consider scaling back its radical stimulus. Japan's core inflation hit 3.1% in July, exceeding the BOJ's 2% target for the 16th straight month. BOJ officials have said the central bank must keep interest rates ultra-low until robust domestic demand and sustained wage growth replace rising import costs as key drivers of inflation.

Persons: Androniki, Takata, Hajime Takata, Policymaker Takata, Haruhiko Kuroda, Leika Kihara, Tetsushi Kajimoto, Takahiko Wada, Tom Hogue, Lincoln, John Stonestreet Organizations: REUTERS, Bank of Japan's, CHINA IMPACT, Thomson Locations: Japan, Tokyo, TOKYO, China, CHINA

☆ Asia stocks slip, dollar firms on growth concerns, Fed outlook
▼ + stars: | 2023-09-06 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsHONG KONG, Sept 6 (Reuters) - Asia stocks fell on Wednesday after faltering growth in China and Europe heightened concerns about global economic momentum, while the dollar firmed as investors weighed the outlook for Federal Reserve interest rates. MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) dipped 0.45%. "The China decline was bigger than expected," said Redmond Wong, Greater China market strategist at Saxo Markets. Manufacturing data from Germany, Britain and the euro zone also showed declines, while their service sectors fell into contraction. "The Europe data were rather weak.

Persons: Androniki, HSI, Redmond Wong, Wong, Australia's, Christopher Waller, John Milroy, Ord Minnett, Brent, Kane Wu, Edmund Klamann, Sam Holmes Organizations: REUTERS, Federal Reserve, Saxo Markets, Nikkei, U.S, BlackRock Investment Institute, Institute for Supply Management, PMI, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, China, Europe, London, U.S, 0520GMT, Asia Pacific, Greater China, Germany, Britain, BlackRock, ., Saudi Arabia, Russia

☆ Asia stocks fall as global growth concerns mount
▼ + stars: | 2023-09-06 | by ( Kane Wu | ) www.reuters.com time to read: +2 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsHONG KONG, Sept 6 (Reuters) - Asia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for U.S. interest rates. MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was down 0.5% at 0143GMT. The Hang Seng Index (.HSI) and China's benchmark CSI300 Index (.CSI300) both opened down about 0.3%. Shares in Europe and the U.S. fell on Tuesday over concerns about weak global growth. (This story has been refiled to correct the Reuters Instrument Code of the Hang Seng Index in paragraph 4)Reporting by Kane Wu; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Australia's, Redmond Wong, Christopher Waller, John Milroy, Ord, Brent, Kane Wu, Edmund Klamann Organizations: REUTERS, Saxo Markets, U.S, Reuters, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, China, Europe, Asia Pacific, 0143GMT, Germany, Britain, Greater China, U.S, Ord Minnett .

☆ BOJ policymaker sees signs of change in Japan's deflationary mindset
▼ + stars: | 2023-09-06 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

An office employee walks in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. Takata stressed the need to maintain ultra-loose monetary policy for the time being, as slowing global growth heightens uncertainty on whether Japan can sustainably achieve the Bank of Japan's (BOJ) 2% inflation target. "Personally, I believe Japan's economy is finally seeing early signs of achieving the BOJ's 2% inflation target," Takata said in a speech. The remarks follow those of two other BOJ board members, who gave diverging views on how soon the central bank should consider scaling back its radical stimulus. BOJ officials have said the central bank must keep interest rates ultra-low until robust domestic demand and sustained wage growth replace rising import costs as key drivers of inflation.

Persons: Androniki, Takata, Hajime Takata, Haruhiko Kuroda, Leika Kihara, Tom Hogue Organizations: REUTERS, of Japan's, Thomson Locations: Japan, Tokyo, TOKYO, Lincoln

☆ Japan budget requests likely to top 110 trln yen as rates rise - Nikkei
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +3 min

FILE PHOTO-An office employee walks in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Aug 25 (Reuters) - Japanese ministries' budget demands for the next fiscal year will likely top 110 trillion yen ($753 billion), the Nikkei business daily reported on Friday, with rising interest rates expected to boost debt servicing costs. This fiscal year's budget stood at 114 trillion yen. It would be the third straight year that budget requests exceed 110 trillion yen and may top a record 111.6 trillion yen requested for fiscal 2022. It's only natural for debt-servicing costs to rise under such circumstances," said Takuya Hoshino, senior economist at Dai-ichi Life Research Institute.

Persons: Androniki, Takuya Hoshino, Fumio, Tetsushi Kajimoto, Diane Craft, Jacqueline Wong Organizations: REUTERS, Rights, Nikkei, Bank of, Dai, Research, Thomson Locations: Japan, Tokyo, China, North Korea

☆ Japan July core CPI rises 3.1% yr/yr, slowing from June
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: 1 min

FILE PHOTO-People shop daily necessities at a market in Tokyo, Japan March 3, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Aug 18 (Reuters) - Japan's core consumer prices rose 3.1% in July from a year earlier, data from the Ministry of Internal Affairs and Communications showed on Friday. The so-called core-core inflation index, which excludes food and energy prices, rose 4.3% year-on-year. The rise in the core consumer price index, which includes oil products but excludes volatile fresh food prices, matched the median market forecast and followed a 3.3% increase in the previous month. For the full tables, go to the ministry's website at: http://www.stat.go.jp/english/data/cpi/index.htmReporting by Tetsushi Kajimoto Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Tetsushi, Chang, Ran Kim Organizations: REUTERS, Rights, Ministry of Internal Affairs, Communications, Thomson Locations: Tokyo, Japan

☆ Asia stocks stall at one-month lows as slowing China cuts rates
▼ + stars: | 2023-08-15 | by ( Tom Westbrook | ) www.reuters.com time to read: +5 min

Industrial output and retail sales growth both slowed from a month earlier to a year-on-year pace of 3.7% and 2.5% respectively, missing expectations. J.P. Morgan analysts warned of a "vicious cycle" of real estate financing challenges and said trust defaults could wipe 0.3% to 0.4% from China's growth directly. The S&P 500 (.SPX) rose 0.6% overnight and futures rose 0.1% in Asia. European futures rose 0.4%. In bond markets, benchmark 10-year Treasury yields rose 2 basis points to 4.20% on Tuesday.

Persons: Androniki, HSI, Morgan, John Vail, Morgan Stanley, Tom Westbrook, Jamie Freed Organizations: Nikkei, REUTERS, China, SYDNEY, Reuters, Property, Nomura, HK, International Trust Co, Nikko Asset Management, U.S, Nvidia, Brent, Thomson Locations: Tokyo, Japan, China, Asia, Pacific, China’s, JAPAN, Australia

That yen hoard has mostly been held as cash with the aim of ploughing into Japanese bonds when yields eventually turn higher. "We're all waiting for the end of YCC so we can buy JGBs," said a Japanese pension fund manager who requested anonymity as he is not authorized to speak to media. Japanese banks have ploughed money into overseas bonds, but insurance firms and pension funds have kept their powder dry. MARKETS WONT BLINKSuch is the positioning and inertia among long term Japanese investors that analysts expect markets to barely blink even if the BOJ plays for time this week. Lifers and pension funds say they have very little exposure to Japanese government bonds, so a surprise policy change won't hurt them either.

Persons: Androniki, Haruhiko Kuroda, Kazuo Ueda, Bart Wakabayashi, Hirofumi Suzuki, Suzuki, Kevin Buckland, Ankur Banerjee, Vidya Ranganathan Organizations: REUTERS, Bank of, Japan, Nippon Life Insurance, Sumitomo Life Insurance, Insurance, State, Thomson Locations: Japan, Tokyo, TOKYO, SINGAPORE, YCC, Singapore

☆ Analysis: Trauma of Japan's deflation battle keeps BOJ wary of policy shift
▼ + stars: | 2023-06-08 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

Having taken part in Japan's battle with deflation as BOJ board member from 1998 to 2005, Ueda knows all too well the danger of a premature exit from ultra-loose policy. Wary of a wobbly recovery, he opposed the BOJ's decision in 2000 to raise short-term rates to 0.25% from zero. On the surface, conditions for phasing out a portion of the BOJ's massive stimulus appear to be falling in shape. To be sure, Ueda has left scope to tweak YCC in case inflation continues to overshoot the BOJ's forecasts. In a group interview last month, Ueda said the BOJ could tweak YCC "if the balance between the benefit and cost of our policy shifts."

Persons: Ueda, Kazuo Ueda, Haruhiko Kuroda, Leika Kihara, Sam Holmes Organizations: REUTERS, Bank of Japan, Companies, Thomson Locations: Japan, Tokyo, TOKYO, U.S, China

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