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☆ Japan's Oct wholesale prices rise 9.1% yr/yr
▼ + stars: | 2022-11-11 | by ( Leika Kihara | ) www.reuters.com time to read: +1 min

Slideshow ( 2 images )TOKYO (Reuters) -Japan’s wholesale prices rose 9.1% in October from a year earlier, slowing from the previous month’s record gain but remaining at high levels as the weak yen continued to inflate the cost of raw material imports for companies. The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 9.1% in October from a year earlier, data showed on Friday. Petroleum and coal prices rose 2.6% in October from a year earlier, slowing from a 14.5% gain in September reflecting falling global fuel prices. But steel prices rose 22.4% and those for food by 6.9% as manufacturers continued to translate higher costs to automakers and retailers, the data showed. Rising fuel and raw material prices have weighed on Japan’s fragile economic recovery, as more companies pass on higher costs to households in a hit to still-weak consumption.

Seoul, South Korea CNN —The South Korean military said Wednesday North Korea launched the highest number of short-range missiles in a day as Seoul retaliated to Pyongyang’s latest barrage of weapons tests, further escalating tensions in the region. JCS said the South Korean Air Force targeted international waters north of the NLL at an equal distance to that which the North Korean missile had earlier landed south of the line. North Korea is “fully responsible” for the situation as they are the ones continuing to provoke despite warnings, JCS added. South Korea responded to North Korea's barrage of missiles on Wednesday by firing three air-to-surface missiles from F-15K and KF-16 fighter jets. Correction: This story has been updated to clarify that this is not the first time North and South Korea have fired missiles off their respective coasts, and to reflect that North Korea fired a number of missiles of various types and the distance in kilometers from the NLL.

☆ Morning Bid: Tech melts, buck bounces
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +3 min

All of which raises some questions about the price at which Elon Musk eventually agreed to buy Twitter. But the dollar rallied on Friday as other central banks looked to more than match any easier Fed tilt. Eyes are shifting to another U.S. inflation update later, with European growth and inflation numbers surprising to the upside. Although spurred back higher on Friday by the inflation news, European bond markets had a dovish take on Thursday's doubling of European Central Bank interest rates to 1.5%. Key developments that should provide more direction to U.S. markets later on Friday:* U.S. September PCE price index, personal income and consumption.

☆ Dollar weathers suspected yen intervention, China data mixed
▼ + stars: | 2022-10-24 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

SYDNEY (Reuters) - The U.S. dollar weathered another suspected blast of Japanese intervention to push higher on the yen on Monday, while most share markets rallied on just the hint of an eventual slowdown in U.S. rate hikes. REUTERS/Issei KatoThe dollar started in a bullish mood with an early rush to 149.70 yen, before taking a sudden spill as far as 145.28 in a matter of minutes. Yet speculators seemed undaunted and took the dollar back up to 148.90 in choppy trading. Also moving was sterling, which see-sawed on news Boris Johnson had dropped out of running for British prime minister. The Bank of Canada is also expected to tighten by 75 basis points at its meeting this week.

☆ Dollar absorbs suspected yen intervention, China data mixed
▼ + stars: | 2022-10-24 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

SYDNEY (Reuters) - The U.S. dollar weathered another suspected blast of Japanese intervention to push higher on the yen on Monday, while for equities a drop in Chinese markets took the shine off hopes for an eventual slowdown in U.S. interest rate hikes. REUTERS/Issei KatoThe dollar started in a bullish mood with an early rush to 149.70 yen, before taking a sudden spill as far as 145.28 in a matter of minutes. Yet speculators seemed undaunted and took the dollar back up to 148.90 in choppy trading. Japanese authorities again declined to confirm whether they had intervened, but the price action strongly suggested they had. [GOL/]Oil prices surrendered early gains following soft data on Chinese demand.

☆ Dollar shrugs off suspected yen intervention, Europe clings to Fed hopes
▼ + stars: | 2022-10-24 | by ( Wayne Cole | Amanda Cooper | ) www.reuters.com time to read: +5 min

LONDON/SYDNEY (Reuters) - The dollar weathered another suspected blast of Japanese intervention to rise against the yen on Monday, while European markets got a lift from hopes that U.S. interest rates could rise more slowly than previously thought. Japanese authorities again declined to confirm whether they had intervened, but the price action suggested they had. Sterling, meanwhile, see-sawed in volatile trade on news Boris Johnson had dropped out of the running for British prime minister. The peak for rates has also edged down to around 4.87%, from above 5% early last week. “Although we do not expect any ‘dovish’ policy signal, we maintain a bias towards a lower rate path than currently priced by markets,” said analysts at NatWest Markets in a note.

☆ Traders on intervention watch as yen hits 150, pound gains as Truss resigns
▼ + stars: | 2022-10-20 | by ( Karen Brettell | ) www.reuters.com time to read: +3 min

The fragile yen briefly weakened past 150 per dollar for the first time since August 1990. It was last trading at 149.76 yen per dollar. This has sent U.S. yields and the dollar higher, particularly against the yen as the Bank of Japan is committed to keeping interest rates near zero. The pound rallied ahead of the announcement, before paring gains and then again moving higher. The dollar index dipped 0.50% against a basket of major currencies to 112.40, which analysts said was likely due to consolidation.

☆ Japanese prime minister orders investigation of Unification Church
▼ + stars: | 2022-10-18 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

TOKYO — Japanese Prime Minister Fumio Kishida ordered an investigation Monday into the Unification Church in an apparent move to calm the public outrage over his governing party’s cozy ties with the controversial group, which were revealed in the wake of Shinzo Abe’s assassination. Former Prime Minister Abe was shot to death during an outdoor campaign speech in July. The suspect, Tetsuya Yamagami, told police he killed Abe because of his apparent link to a religious group he hated. An LDP survey in September found nearly half of its lawmakers had ties to the church, including Cabinet ministers. Nagaoka, the culture minister, said she will set up a panel of legal and religious experts next week to discuss a rare investigation into a religious group.

☆ Japan's FX diplomat vows 'decisive' action against volatile yen moves
▼ + stars: | 2022-10-15 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

WASHINGTON (Reuters) -Japan’s top currency diplomat Masato Kanda on Friday said authorities are ready to take decisive action in the currency market if excessive moves in the yen continue. “As mentioned in the statement, excessive volatility and disorderly moves in the currency market have a negative impact on economies,” said Kanda, who oversees Japan’s currency policy as vice finance minister for international affairs. “If excessive moves in the yen continue, we’re ready to take decisive action any time,” Kanda told reporters in Washington. “I won’t comment on specific market moves,” Kanda said when asked whether the yen’s sharp declines in recent days were deemed volatile. “I will, however, mention that many people believe recent moves have been somewhat rapid,” he added.

☆ Japan manufacturers' mood sours, higher costs dim outlook - Reuters Tankan
▼ + stars: | 2022-10-11 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

REUTERS/Issei Kato/File PhotoThe monthly poll, which tracks the Bank of Japan’s (BOJ) closely watched tankan quarterly survey, found manufacturers’ mood is expected to deteriorate again over the coming three months while service-sector mood was seen rebounding further. Industries such as autos, steel and textiles weighed on overall manufacturers’ sentiment, while communications, transport and utilities led non-manufacturers. “The prices of products are not keeping pace with surging raw materials costs” as many subcontractors in the supply chain could not pass on input costs to their clients, one manager at a chemicals maker said. “There are concerns about worsening profits due to import costs boosted by a weak yen on top of rising raw materials and energy costs,” said a manager of a food-processing firm. The BOJ’s last survey on Oct. 3 showed big manufacturers’ mood had worsened in July-September for a third straight quarter as high material costs dimmed recovery prospects for the fragile economy.

☆ Japan manufacturers' mood sours again, higher costs dim outlook - Reuters Tankan
▼ + stars: | 2022-10-11 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

FILE PHOTO: A factory area is seen in front of Mount Fuji in Yokohama, Japan, January 16, 2017. The monthly poll, which tracks the Bank of Japan’s (BOJ) closely-watched tankan quarterly survey, found manufacturers’ mood expected to deteriorate again over the coming three months while service-sector mood was seen rebounding further. “There are concerns about worsening profits due to import costs boosted by a weak yen on top of rising raw materials and energy costs,” said a manager of a food-processing firm. The BOJ’s last survey showed on Oct. 3 big manufacturers’ mood worsened in July-September for a third straight quarter as high material costs dim recovery prospects for the fragile economy. The Reuters Tankan index readings are derived by subtracting the percentage of respondents who say conditions are poor from those who say they are good.

TOKYO — Even as world leaders gathered in Tokyo for the funeral of assassinated former Japanese prime minister Shinzo Abe on Tuesday, there were protests against the lavish proceedings. But the state funeral for Japan’s longest-serving prime minister, who was shot and killed while campaigning in Nara on July 8, takes place in a country deeply divided over the former leader’s legacy. In that sense, I would like to once again offer my sincere condolences to former Prime Minister Abe, who was killed by a bullet,” its leader Kenta Izumi said Tuesday. The decision on whether to hold a state funeral is usually subject to parliamentary deliberation, which was not the case for Abe's service. Around 800 people protested the state funeral at a major train station on Monday evening, according to broadcaster NTV.

☆ Shinzo Abe State Funeral Brings World Leaders to Japan
▼ + stars: | 2022-09-27 | by ( Alastair Gale | Miho Inada | ) www.wsj.com time to read: 1 min

A temporary altar was set up for the public to pay respects outside the Nippon Budokan, site of Shinzo Abe’s funeral. TOKYO—World leaders gathered Tuesday for the state funeral of Japan’s longest-serving prime minister, Shinzo Abe , who was killed by an assassin’s bullet in July. Vice President Kamala Harris leads the U.S. delegation, which includes three former ambassadors to Japan and the current ambassador, Rahm Emanuel .

☆ Leapmotor’s modest IPO obviates big leap of faith
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/StringerHONG KONG, Sept 27 (Reuters Breakingviews) - Leapmotor is cruising in gloomy markets. The Chinese electric-vehicle maker priced shares of its initial public offering, the largest in Hong Kong this year, at the bottom end of a previously indicated range, per IFR. Chinese consumers are increasingly gravitating towards more affordable local brands too, according to a Bernstein survey released this month. Leapmotor’s sales in the first quarter fell a little short of the pace it needs to hit but its still within reach. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Clock ticks for reining in TikTok risk
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

TikTok app logo is seen in this illustration taken, August 22, 2022. The more time that passes, the harder TikTok gets to police. Biden’s predecessor Donald Trump tried to force a sale two years ago and threatened to ban TikTok over concerns that Chinese parent ByteDance could take American data. Biden’s team has similar security worries, and the latest proposal is to have TikTok store its American data in the United States, according to the New York Times citing sources familiar with the talks. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Grab's steady steering offers a smoother ride
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Caroline ChiaHONG KONG, Sept 26 (Reuters Breakingviews) - A rising tide once lifted all of Southeast Asia's technology giants. With a global recession looming and markets in turmoil, their fortunes are starting to diverge. It's a sharp contrast to its $24 billion Singaporean rival Sea (SE.N), which is retrenching globally to achieve financial "self-sufficiency". With shares down over 60% this year, Grab's confident and careful hand at the wheel gives shareholders something to cheer. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Unification Church pledges reforms after Shinzo Abe’s killing
▼ + stars: | 2022-09-23 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

On Wednesday, a man set himself on fire near the prime minister’s office in Tokyo in an apparent protest against the state funeral. Media reports said he had a note expressing his opposition to the state funeral. Critics say the plan for a state funeral was decided undemocratically, has no legal basis, and is an inappropriate and costly use of taxpayers’ money. Political analysts say Kishida decided to hold a state funeral to please Abe’s party faction and buttress his own power. “Prime Minister Kishida should have made a decision more carefully.”

☆ Bank of Japan’s stubbornness keeps yen volatile
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

Men look at an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar and Nikkei share average in Tokyo, Japan September 14, 2022. read more That’s understandable, but it will make it harder to moderate an increasingly volatile exchange rate. The yen , currently trading around 144 per dollar, is at its weakest since 1998, but more important is the rate of change. A see-sawing foreign exchange rate, though, makes executives nervous. Exporters including carmakers Nissan Motor (7201.T) and Toyota Motor (7203.T), and drugmaker Takeda Pharmaceutical (4502.T), which reported nice forex tailwinds in its last quarterly report, are benefitting from unexpected exchange rate gains on paper.

☆ Tokyo blinks in game of forex chicken
▼ + stars: | 2022-09-22 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The BOJ would rather wait for the outcome of companies’ annual wage negotiations next year before leaping to policy conclusions. That further widens the gap between American and Japanese benchmark bond yields – already well over 3 percentage points – which further hurts the yen. Register now for FREE unlimited access to Reuters.com RegisterThat’s why Tokyo has decided to deploy some of its $1.3 trillion in forex reserves to stem the slide. Bond investors have already expressed scepticism towards the BOJ’s commitment to keeping the 10-year sovereign bond yield below 0.25%.

☆ Premarket stocks: Jerome Powell is heading into the 'danger zone'
▼ + stars: | 2022-09-22 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

“We feel the economy is very strong and will be able to withstand tighter monetary policy,” Powell said in March. Breaking it down: The central bank didn’t go as hard as some investors thought it might. Yet tucked into the central bank’s projections were signs that it plans to stay tough, even if it means pushing the economy into rocky territory. The Fed’s main interest rate is now set between 3% and 3.25%. Plus, many factors pushing up inflation numbers — such as the war in Ukraine and drought conditions — are outside the central bank’s control.

☆ Novartis’ growth ills lay tricky treatment pathway
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 22 (Reuters Breakingviews) - Novartis (NOVN.S) is facing a prolonged period in recovery. On Thursday, the $187 billion Swiss drugmaker said it will make expansion in the U.S. market a top priority as it seeks to boost its lacklustre growth. He will also spin off its generic drug business next year and list it on the Swiss stock exchange. Strip that away from Novartis’ current enterprise value of $196 billion and the core drugs business is valued at around $167 billion. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Japan's best castles to visit at least once
▼ + stars: | 2022-01-20 | by ( David Mcelhenney | ) edition.cnn.com time to read: +13 min

CNN —During Japan’s Sengoku “Warring States” era (1467-1615), castles were constructed, bolstered and fortified all across the Japanese archipelago, resulting in approximately 5,000 individual keeps. Here are some of Japan’s best castles that you can still visit. Edo CastleEdo Castle, bearing the former name of Tokyo, has one of the longest lineages of all Japan’s castles. Edo Castle was huge in its prime, surrounded by a 15-kilometer outer moat crossed by over 30 gates and bridges. Bicchu Matsuyama CastleThe 13th-century Bicchu Matsuyama Castle, perched above quiet Takahashi City in Okayama prefecture, is thought to be Japan’s original yamajiro (mountain castle).

☆ ‘The World Without Us’: The abandoned sites overrun by nature
▼ + stars: | 2021-12-23 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +6 min

However, French photographer Romain Veillon is making it his mission to capture in pictures the potential result of a planet without people. The 38-year-old has spent years photographing abandoned places around the world that have been overtaken by nature, with eerily beautiful results. ‘Post-apocalyptic vision’An image of abandoned Namibian ghost town Kolmanskop by photographer Romain Veillon. The first showcases deserted places that remain relatively well preserved and the second focuses on dilapidated sites in a far worse state. Nature reclaimingThe photographer managed to visit abandoned theme park Nara Dreamland in Japan before it was demolished.

Persons: Romain Veillon, ”, Romain Veillon Veillon, ” Veillon, “, Romain Veillon “, Veillon, Georgia that’s Organizations: CNN, Google, Bulgarian Communist Party, Romanian Ministry of Culture Locations: Namibia, Brussels, Ukraine, ‘, Brandenburg, Germany, Paris, Veillon, Soviet, Bulgaria, Constanța, Japan, Peru, Abkhazia, Georgia

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