| Japan Market Update Archive: |
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Oil and Metals Seek New Highs
Feb 27, 8:33 AM EST |
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| The BOJ postponed its nomination of Governor after politicalparies failed to agree on a consensus candidate. |
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| Tokyo stocks gained for the third day in a row, nearly 5% gain, on the back of improving sentiment in the international markets. Tech stocks in Japan closed higher on the $15 billion stock buyback from IBM. Commodities, metals, and crude oil closed near record level on falling dollar. Crude oil reached $101.35 a barrel and the U.S. dollar fel to a record low against euro. Gold closed at a new high and silver added 3.5%. |
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Central Tokyo Office Demand Rises
Feb 26, 7:56 AM EST |
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| Property stocks rallied after a market trend report from Mori Building indicated a sharp decline in availability of new office space in Central Tokyo. |
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| Rising demand for office space in Central Tokyo will lead to a decline in available new space by 45% in 2008, for the second year in a row. Honda, Toyota, and Nissan raised their automobiles production in Japan to meet demands in emerging markets. Sony and Sharp are in an alliance to build LCD panel related manufacturing facility in Osaka. |
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China to Invest $10 B in Inpex
Feb 25, 7:48 AM EST |
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| China Investment Corp plans to invest $10 billion in the largest oil refiner in Japan, Inpex. The news lifted the stocks averages to close higher. |
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| Japan stocks rallied on the back of higher market close in the U.S. In Tokyo trading Nikkei 225 gained 3.07% to 13,914.57, and the broader Topix Index rose 2.6% at 1,355.54. China investment Corp is likely to invest $10 billion in oil refiner Inpex in Japan and follow up with more investments in the country. Aioi Insurance reported a net loss of 4 billion in the nine-month period ending in December. |
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Nikkei Falls 1.4% in Asian Markets Decline
Feb 22, 7:48 AM EST |
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| U.S. market sell-off in the overnight trading on recession worries hurt market indexes across Asia. Steel companies in Japan raised prices. |
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| KDDI plan to sell free domestic calls between familiy members sparked a telecom wars that may lower prices immediately for the most carriers. The paln will allow registered members to talk free any hour may lower revenue of KDDI by 25 billion yen. Softbank and NTT DoCoMo fell after the new rate plan. Steel companies raised sheep prices by 31% lifting steel stocks but stoked fears of rising inflation. U.S. market remained volatile as investors worried that the U.S. may be in recession. |
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January Deficit in Japan Rises
Feb 21, 8:58 AM EST |
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| Seasonality and holiday purchases bossted trade deficit in Japan to $735 million from $50 million a year ago. |
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| January trade deficit in Japan rose to 79.3 billion yen from 3.5 billion yen in January 2007. Rising crude oil prices lifted oil import by 41% and overall imports by 9%. The seasonality in the Japan business cycles and holidays often leads a deficit in January month in international trade. While trade surplus with the U.S. declined 4.8%, trade deficit with China declined 5.8% from a year ago. |
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Japan Falls 3.2% on Credit Market Worries
Feb 20, 12:30 PM EST |
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| The Bank of Japan in a statement said the that the tighter building code impact on the economy will fade away in months to come. |
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| Stocks in Japan fell after a surprise write-down from Credit Suisse of $2.85 billion and debt reshceduling from KKR Financial in the U.S. In Tokyo trading Nikkei 225 slipped 3.25% to 13,310.37, and the broader Topix Index fell 3.2% to 1,302.72. A sharp rise in crude oil by 4.7% lifted stocks of trading companies but auto makers and others declined. |
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Rising Metals Prices Lift Tokyo Stocks
Feb 19, 9:15 AM EST |
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| Japanese and Korean steelmakers agreed to 65% price hike for iron ore delivered from CVRD based in Brazil. |
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| A sharp rally in base metal prices and crude oil in Asia lifted trading companies and market averages. Nikkei 225 index rose 0.9% to 13,757 after a sustained rise in copper, aluminum, and zinc prices. Copper led the metals group with a rise of 3% followed by more than 2% rise in aluminum and zinc. Crude oil increased 1%. On the back of the rally and a recommendation from Citigroup, Itochu led the gainers in the Nikkei 225 Index with a surge of 8%. |
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Japan Steelmakers Accept 65% Rise
Feb 18, 12:23 PM EST |
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| Four largest steel companies in Japan negotiated 65% rise in iron ore price with CVRD. The ore prices have increased more than 100% before this hike. |
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| Steelmakers in Japan negotiated a price increase of 65% with CVRD, Brazilian iron ore company. The price hike, is the third annual increase in as many years, totaling more than 100%. Prices are negotiated between steel companies and miners and not traded on future contracts on world stock exchanges. Steel companies closed higher after the news. |
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BOJ Left Rates at 0.5%, Stocks Struggle
Feb 15, 10:56 AM EST |
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| Stocks in Japan struggled after the Bank of Japan left rates at 0.5% and cuationed that rising inflation and slump in housing investment is a drag. |
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| The Bank of Japan left its key interest rate unchanged to 0.5% in an unanimous vote but voiced a concern on the rising energy and food prices. The Bank also noted in a separate statement that housing investment is acting as a drag on the economy and noted that credit demand in the private sector has bee flat. |
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Tokyo Rebounds 4% on Higher Growth
Feb 14, 9:04 AM EST |
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| Stocks in Japan rebounded after economic grwoth in the fourth quarter accelerated from the third despite a weakness in the construction industry. |
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| Stocks in Japan rebounded after the economic growth in the fourth quarter exceeded expectations and better than expected January retail sales in the U.S. In Tokyo trading Nikkei 225 rose 4.3% 13,626.45, and the broader Topix Index increased 3.7%. Markets across Asia jumped between 2% and 5%. Economic growth in Japan accelerated to 0.9% in the fourth quarter from 0.8% in the third quarter despite a weak performance in construction industry. |
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