| Latest Forum Topics / Straits Times Index |
 Post Reply
|
|
STI vs Nikkei
|
|
|
mirage
Veteran |
27-Jun-2008 09:24
|
|
x 0
x 0 Alert Admin |
Bloomberg News Japan's Inflation Rate Surges to Decade-High 1.5% (Update1) By Mayumi Otsuma  June 27 (Bloomberg) -- Japan's consumer prices rose at the fastest pace in a decade in May, hurting household budgets and complicating policy for the central bank as economic growth slows. Core prices, which exclude fruit, fish and vegetables, climbed 1.5 percent from a year earlier after rising 0.9 percent in April, the statistics bureau said today in Tokyo. The median estimate of 40 economists surveyed by Bloomberg News was for a 1.4 percent gain. Household spending fell for a third month, a separate report showed, as higher prices of gasoline, bread and milk caused people to pare outlays. Slowing growth will probably prevent the Bank of Japan from raising its key interest rate from 0.5 percent even as inflation accelerates globally. ``In Japan, price increases are only exacerbating concerns about growth, rather than supporting the view that inflation may start to stimulate economic activity,'' said Junko Nishioka, a senior economist at ABN Amro Securities Japan Ltd. in Tokyo. ``Clearly the central bank is focusing on the economic slowdown now and there's no chance for a rate hike this year at least.'' The yen traded at 106.94 per dollar at 8:45 a.m. in Tokyo from 106.88 before the reports were published. Higher energy and raw-materials costs will drag large manufacturers' confidence to the lowest level in almost five years, economists predict the Bank of Japan's Tankan survey to show on July 1. First-quarter profits fell at the fastest pace since the economy emerged from its last recession in 2002. BOJ's Nakamura The Bank of Japan is concerned that rising energy and raw- materials costs may force companies and consumers to spend less, policy board member Seiji Nakamura said yesterday. He said the central bank is watching whether rising inflationary pressures worldwide will spread to Japan. Household spending fell 3.2 percent, the most since September 2006, the bureau said. The unemployment rate stayed at 4 percent. ``With profits being increasingly squeezed, there's no room for companies to raise wages anytime soon,'' said Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management Co. in Tokyo. ``Inflation will never take hold without wage increases, even if it's driven up by food and energy costs.'' Last month's reinstatement of a gasoline tax that expired in April pushed nationwide core prices higher. Gasoline has risen by about a third since the tax was reinstated on May 1, reaching a record 173 yen a liter ($6.06 a gallon) this month. Record Oil The tax expiry alone lifted core prices by about 0.5 percentage point last month, ABN Amro's Nishioka said. Oil prices have doubled in the past year, and surged to a record $140.39 a barrel yesterday. Yamazaki Baking Co. and Nisshin Seifun Group Inc. raised prices of bread, cakes and pasta this year because of higher wheat costs. Japan may lift prices of the wheat it sells to millers by more than 20 percent in October, following April's 30 percent increase, a government official said last week. Prices of daily necessities are climbing faster than wages, causing consumer sentiment to plunge to a six-year low in May and prompting households to pull their purse strings. Consumers spent 5.9 percent less on bread and 6.1 percent less on pasta in May after makers raised prices, the bureau said. The volume of instant noodle sales declined 52 percent, 14 percent and 33 percent for the three top-selling brands after makers raised prices, a Nikkei newspaper survey showed last week. Tokyo Prices Tokyo's core prices, a harbinger of the nationwide index, rose 1.3 percent this month from a year earlier, following a 0.9 percent gain in May, the statistic bureau said today. So far inflation has been confined to fuel and food products -- Japan imports virtually all of its oil and 60 percent of its food -- and economist Takehiro Sato said it's unlikely those price increases will spark a ``buy now'' mentality because they are squeezing incomes. Excluding food and energy, prices in Japan fell 0.1 percent in May. By that measure prices have only risen in one month, March, in the past 10 years. Prices of goods people buy more than 15 times a year, most of which are food, rose 2.4 percent in May, while goods purchased once every two years or more, such as personal computers and flat-panel TVs, fell 0.7 percent, the bureau said. ``If prices of durable goods were to turn up, it would signify secondary inflation, and this could foster expectations for rising prices among the public and lead to a general frontloading of consumption,'' said Sato, chief Japan economist at Morgan Stanley in Tokyo. ``The reality is durable good prices keep falling and an imminent turnaround is unlikely.'' To contact the reporter on this story: Mayumi Otsuma in Tokyo at motsuma@bloomberg.net Last Updated: June 26, 2008 19:46 EDT |
| Useful To Me Not Useful To Me | |
|
mirage
Veteran |
12-Jun-2008 09:12
|
|
x 0
x 0 Alert Admin |
Japanese shares slide on oil, inflation worriesHONG KONG (MarketWatch) -- Japanese stocks dropped sharply early Thursday, with worries about high oil prices and rising inflation weighing down real estate stocks such as Mitsui Fudosan Co. (JP:8801:
JP:8801
Sponsored by: toyota motor corp sp adr rep2com
Last: 101.46-0.13-0.13%
4:06pm 06/11/2008 Delayed quote data Sponsored by: JP:7203
Sponsored by: |
| Useful To Me Not Useful To Me | |
|
|
|
|
mirage
Veteran |
02-Apr-2008 09:01
|
|
x 0
x 0 Alert Admin |
Bloomberg News. Japan's Stocks Surge on U.S. Manufacturing Data; Toyota Jumps By Masaki Kondo April 2 (Bloomberg) -- Japan's stocks surged the most in almost two months after manufacturing in the U.S. contracted less than estimated, bolstering confidence Japan's biggest export market will rebound. Toyota Motor Corp., the world's largest automaker by market value, climbed 4.8 percent after the dollar touched a three-week high against the yen. Mizuho Financial Group Inc., Japan's second-biggest publicly traded bank, was set to jump after Lehman Brothers Holdings Inc. raised $4 billion in a stock sale to replenish its capital, sending its share higher. ``The light is in sight,'' Hiroichi Nishi, a Tokyo-based equities manager at Nikko Cordial Securities Inc., said in an interview with Bloomberg Television. ``Bullish sentiment appears to be building in the market.'' The Nikkei 225 Stock Average surged 436.60, or 3.5 percent, to 13,093.02 as of 9:12 a.m., the most since Feb. 14. The broader Topix index rose 39.97, or 3.3 percent, to 1,270.46. In the U.S., the Institute for Supply Management's manufacturing index edged up to 48.6 in March from 48.3 the previous month, while economists had estimated the measure would fall. Fifty is a threshold between contraction and expansion. The dollar strengthened to as much as 102.16 against the yen, the highest since March 12, compared with 99.69 at the close of stock trading in Tokyo yesterday. Nikkei futures expiring in June added 3.5 percent to 13,120 in Osaka and gained 3.6 percent to 13,125 in Singapore. To contact the reporter for this story: Masaki Kondo in Tokyo at mkondo3@bloomberg.net. Last Updated: April 1, 2008 20:20 EDT |
| Useful To Me Not Useful To Me | |
|
mirage
Veteran |
13-Mar-2008 09:10
|
|
x 0
x 0 Alert Admin |
Quotes: Japanese Stocks Drop on Oil Price, Doubts on U.S. Fed Plan By Masaki Kondo and Patrick Rial March 13 (Bloomberg) -- Japanese stocks fell for the first time in three days after crude oil surged to a record and brokerages said the Federal Reserve's plan to inject as much as $200 billion into the U.S. financial system may not pay off. Honda Motor Co., which gets more than half of its sales in North America, retreated 1.6 percent. Sumitomo Mitsui Financial Group Inc., Japan's third-biggest publicly traded bank, was poised to fall, while Sony Corp. slumped for a second day. The Nikkei 225 Stock Average declined 119.87, or 0.9 percent, to 12,741.26 as of 9:02 a.m. The broader Topix index fell 13.09, or 1 percent, to 1,242.04. Crude oil for April delivery jumped to $110.20 a barrel, the highest intraday price since the futures began trading in 1983, sparking concern rising material costs will depress companies' earnings. Brokerages including Merrill Lynch & Co. and Goldman Sachs Group Inc. said the Fed may not be able to eliminate gridlock in credit markets. ``The outlook for global financial markets is hazy, so investor mood depends on whether monetary policies are perceived to be effective,'' said Nobuyuki Fujiwara, a Tokyo-based strategist at Deutsche Asset Management, which oversees the equivalent of $10 billion, in an interview with Bloomberg Television. Nikkei futures expiring in March retreated 1.5 percent to 12,700 in Osaka and slumped 1.4 percent to 12,705 in Singapore. |
| Useful To Me Not Useful To Me | |
|
Pinnacle
Master |
16-Nov-2007 09:13
|
|
x 0
x 0 Alert Admin |
Nikkei opens down 1 pctTOKYO (Reuters) - The Nikkei average opened 1 percent lower on Friday, led by Canon Inc (7751.T: Quote, Profile, Research), tracking an overnight fall on Wall Street. Sell orders overwhelmed Japan's three largest banks, including Mizuho Financial Group Inc (8411.T: Quote, Profile, Research), on renewed concerns for subprime problems. By 7:01 p.m. EDT, the Nikkei average (.N225: Quote, Profile, Research) was down 157.57 points to 15,238.73. The broader TOPIX index (.TOPX: Quote, Profile, Research) lost 1.2 percent to 1,481.29. |
| Useful To Me Not Useful To Me | |
|
|
|
|
mirage
Veteran |
14-Nov-2007 14:47
|
|
x 0
x 0 Alert Admin |
News from BloomBerg Asian Stocks Rise for First Time in Five Days; Toyota Advances By Chen Shiyin and Emma O'Brien Nov. 14 (Bloomberg) -- Asian stocks rose for the first time in five days, extending a global rally. Toyota Motor Corp. and Canon Inc. led exporters higher after the yen weakened against the dollar and Wal-Mart Stores Inc.'s profit beat estimates. Mitsubishi UFJ Financial Group Inc. and National Australia Bank Ltd. paced gains among banks after Goldman Sachs Group Inc. said it doesn't plan significant writedowns on mortgage-related securities, easing concern credit-market losses will spread and helping U.S. stocks rally the most in a month. ``The Wal-Mart result shows the U.S. consumer is still spending,'' said Paul Xiradis, who manages about $8.3 billion at Ausbil Dexia Ltd. in Sydney. ``On the U.S. investment-banking front for the moment things are looking better than expected.'' The Morgan Stanley Capital International Asia Pacific Index added 2.5 percent to 162.18 as of 1:57 p.m. in Tokyo after a four-day, 5.4 percent drop. All 10 industry groups advanced. Markets open for trading around the region climbed. Tokyo Electron Ltd., the world's second-largest maker of machines used to produce semiconductors, jumped after saying orders will climb and Deutsche Bank AG raised its rating. Posco rose after UBS AG suggested investors buy steelmaker shares, saying earnings will recover this quarter. Japan's Nikkei 225 Stock Average increased 2.3 percent to 15,477.47, its first gain in nine days. China Mobile Ltd. jumped in Hong Kong, where the Hang Seng Index rose 3.9 percent, the region's best performer, after investors said a possible tie-up to sell Apple Inc.'s iPhones may benefit the company. Toyota, Canon, Yen Toyota, which gets about 70 percent of its profit from operations in North America, jumped 3.2 percent to 6,210 yen. Canon, the world's largest seller of digital cameras, surged 3.4 percent to 5,540 yen. Nintendo Co., maker of the best-selling Wii game console, added 6.3 percent to 62,700 yen. The yen dropped to 111.21 against the dollar recently, from as high as 109.22 yesterday. A weaker yen increases the value of Japanese exporters' dollar-denominated sales when converted into local currency. ``The currency is providing a boost,'' said Hiroshi Chano, who helps manage $7.3 billion at Yasuda Asset Management Co. in Tokyo. ``The positive news on Goldman and Wal-Mart is also helping.'' In the U.S., the Standard & Poor's 500 Index climbed 2.9 percent yesterday, the biggest gain since the Federal Reserve cut interest rates on Sept. 18. The Dow Jones Industrial Average rose 2.5 percent, while the Nasdaq Composite Index added 3.5 percent. Wal-Mart, Li & Fung Wal-Mart, the world's largest retailer, had its biggest advance since 2002 after reporting net income of 70 cents a share. Excluding a 1-cent tax benefit, the profit exceeded the 67-cent average estimate of analysts. Li & Fung Ltd., a Hong Kong-based supplier to Wal-Mart, jumped 5.9 percent to HK$31.50. Westfield Group, which owns 59 shopping malls in the U.S., rose 1.9 percent to A$20.50. Goldman Sachs jumped 8.5 percent in U.S. trading, the biggest gain in 6 1/2 years, after Chief Executive Officer Lloyd Blankfein said the company doesn't plan a significant writedown on mortgage-related securities. Mitsubishi UFJ, Japan's largest publicly traded bank, added 4.7 percent to 953 yen. Mizuho Financial Group Inc., the second biggest, rose 5.6 percent to 546,000 yen. National Australia, the country's biggest lender, gained 1.5 percent to A$44.54. HSBC Holdings Plc, Europe's largest bank, added 1 percent to HK$138.60 in Hong Kong. Shinsei, Tokyo Electron Shinsei Bank Ltd., the worst-performing Japanese bank stock this year, rose 1.9 percent to 331 yen on speculation losses related to subprime lending are lower than its U.S. counterparts. Net income slid 40 percent to 23.1 billion yen ($208 million) for the six months ended Sept. 30, the bank said yesterday. Tokyo Electron surged 6.2 percent to 6,340 yen, set for the biggest advance since January 27, 2006 after it forecast yesterday that orders in its third quarter will rise to 170 billion yen from 127.5 billion yen in the previous quarter. Capital spending by chipmakers ``is likely to recover strongly heading into the second half in the year ending March 2009,'' Yoshikazu Higurashi, an analyst at Deutsche Bank, wrote in a report yesterday. He raised his rating to ``buy'' from ``hold.'' Posco, the world's fourth-biggest steelmaker, jumped 4 percent to 603,000 won in Seoul. Sumitomo Metal Industries Ltd., Japan's third-biggest steelmaker, added 5.3 percent to 493 yen. Angang Steel Co., China's third-largest steelmaker by output, rose 8.1 percent to HK$22.75. Steelmakers, China Mobile Steelmakers' profits will show a ``robust'' recovery in the fourth quarter, UBS said in a report, saying steel prices will remain strong in 2008, driven by demand from emerging markets including China. China Mobile, the world's largest wireless operator by users, jumped 6.1 percent to HK$136.70, halting a four-day, 10 percent loss. The company said yesterday it's in talks to sell the iPhone that may help the company lure higher-income users. ``This potential tie-up with Apple is very interesting,'' said Lei Wang, co-manager of Thornburg International Value Fund in Santa Fe, New Mexico, which oversees $16 billion. ``It's trying to protect its average revenue per user, and a high end terminal like Apple would definitely help them to achieve that.'' To contact the reporter for this story: Chen Shiyin in Singapore at schen37@bloomberg.net ; Emma O'Brien in Wellington on eobrien6@bloomberg.net . Last Updated: November 14, 2007 00:07 EST |
| Useful To Me Not Useful To Me | |
|
mirage
Veteran |
09-Nov-2007 08:36
|
|
x 0
x 0 Alert Admin |
News from BloomBerg Japan's Nikkei 225 Falls on Bernanke Comments; Matsushita Drops By Patrick Rial Nov. 9 (Bloomberg) -- Japanese Nikkei 225 Stock Average fell, led by companies that depend on sales in the U.S, after Federal Reserve Chairman Ben S. Bernanke said U.S. growth will probably ``slow noticeably,'' dimming the outlook for profit from the world's largest economy. Matsushita Electric Industrial Co., which gets 47 percent of its revenue from abroad, slid for a third day. Toyota Motor Corp., which gets as much as 70 percent of operating profit from North America, declined. Sumitomo Metal Mining Co., Japan's biggest nickel producer, was poised to gain after BHP Billiton Ltd. offered to buy Rio Tinto Group, boosting speculation takeovers in the industry will increase. Declines were limited as investors bought shares that have fallen recently including Mizuho Financial Group Inc. as technical indicators such as the relative strength index and Toraku ratio pointed to a rebound. ``On balance, there seems to be more negative news for the market today, so stocks do not look like an attractive buy,'' said Soichiro Monji, who helps oversee $47 billion at Daiwa SB Investments Ltd. in Tokyo. ``The Nikkei 225 has fallen more than 1,000 points in the last week, so the downside looks limited.'' The Nikkei 225 lost 28.14, or 0.2 percent, to 15,743.43 as of 9:16 a.m. in Tokyo. The broader Topix index added 1.24, or 0.1 percent, to 1,518.18. Nikkei futures expiring in December gained 0.2 percent to 15,770 Osaka and rose 0.2 percent to 15,765 in Singapore. In other Asian markets open for trading, Australia's S&P/ASX 200 Index rose 0.6 percent and South Korea's Kospi index climbed 0.8 percent. The settlement price for Japan's Nikkei 225 options contracts for November delivery will be set today. The settlement price, also known as the ``special quotation,'' of Nikkei 225 options is calculated after all stocks in the index begin trading. To contact the reporter for this story: Patrick Rial in Tokyo at prial@bloomberg.net . |
| Useful To Me Not Useful To Me | |
|
mirage
Veteran |
09-Nov-2007 08:14
|
|
x 0
x 0 Alert Admin |
QUOTES: |
| Useful To Me Not Useful To Me | |
|
|
|
|
mirage
Veteran |
08-Nov-2007 08:29
|
|
x 0
x 0 Alert Admin |
Quotes: TOKYO, Nov 8 - The Nikkei fell below 16,000 for the first time in nearly two months on Thursday, hurt by Sony Corp and other exporters after Wall Street tumbled and the yen gained, while weaker than expected machinery orders data hurt stocks such as industrial robot maker Fanuc Ltd As of 0007 GMT, the Nikkei average was down 1.8 percent, or 286.61 points, at 15,810.07, going below 16,000 for the first time since Sept. 18. The broader TOPIX index lost 2 percent, or 30.70 points, to 1,525.99.
|
| Useful To Me Not Useful To Me | |
|
mirage
Veteran |
31-Oct-2007 09:17
|
|
x 0
x 0 Alert Admin |
HONG KONG (MarketWatch) -- Japanese stocks fell early Wednesday, reacting to an overnight decline on Wall Street, led by financials such as Mizuho Financial Group, while exporters such as Nintendo Co. also were hurt by the yen's appreciation against global currencies.
The Nikkei 225 index fell 0.3% to 16,603.10 and the broader Topix index lost 0.5% at 1,599.68.
Australia's S&P/ASX 200 slipped 0.1% to 6,743.20, New Zealand's NZX 50 index was little changed at 4,217.92 and South Korea's Kospi added 0.4% to 2,059.68.
A pullback in oil prices hurt resource shares such as Woodside Petroleum (AU:WPL: news, chart, profile) (WOPEY:
WOPEY
Sponsored by: BHP
Sponsored by: Crude oil for December delivery fell as much as 58 cents to $89.80 a barrel in electronic trading, after closing 3.4% lower at $90.38 a barrel on the New York Mercantile Exchange Tuesday, declining for the first time in five days.
U.S. markets closed lower on Tuesday after consumer products giant Procter & Gamble Co.'s (PG:
PG
Sponsored by: $INDU
Sponsored by: $SPX
Sponsored by: $COMPX
Sponsored by:  Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau.
|
| Useful To Me Not Useful To Me | |
|
mirage
Veteran |
23-Aug-2007 17:40
|
|
x 0
x 0 Alert Admin |
Quotes: Share markets across Asia rallied Thursday, taking their cue from an apparent easing of credit fears in the US overnight, with Japan's Nikkei benefiting from a softer yen which takes pressure off big exporters like Toyota. The Nikkei ended the morning session up 392 points, or 3.2 percent, at 16,293. The broader Topix rose 2.7 percent. The Nikkei could trade as high as 16,400 points today in a relief rally prompted by gains in the US and the softer yen, said Hideo Mizutani, chief strategist at Sieg Securities The US dollar was last quoted at a one-week high of 116.01 yen, up from 115.06 in New York late Wednesday. As recently as last Friday, the dollar was trading below 112 yen. The key focus for the Tokyo market is the outcome of the Bank of Japan policy meeting later today and accompanying remarks from governor Toshihiko Fukui. While no change is expected in the bank's key rates in light of recent market turbulence, the decision may be greeted with relief by the market as a hike now would cause a further spike in the Japanese currency. Investors will be carefully scrutinising remarks from governor Fukui to see if he gives any clue on the future timing of a long-expected rate hike. Central bank activity was also a focus in the US market overnight as four of the nation's biggest lenders -- Citigroup Inc, J.P. Morgan Chase, Bank of America and Wachovia Corp -- . said they borrowed 2 billion dollars from the Federal Reserve's discount window. Last Friday, the Fed lowered the discount rate by 50 basis points in an effort to calm troubled markets. Removing a stigma The four banks said they didn't need to borrow at the Fed's window, emphasizing that they have cheaper funding sources. "It is important at this time to take a leadership role in demonstrating the potential value of the Fed's primary credit facility and to encourage its use by other financial institutions," the banks said in a statement. "Collectively, these banks are all taking extraordinary and economically disadvantageous actions in order to help the Fed to reduce the stigma of discount window borrowing, hoping smaller institutions will follow." said Tony Crescenzi at Miller Tabak. "Of course, the banks are also acting in their self interest by hoping that their actions will contribute to stability in the financial system," he said. Usually, if a bank taps the discount window, investors and depositors assume it can't borrow elsewhere. That can lead to a run on the bank and cut off whatever remaining market access it has to funds. The announcement, and a report that online brokerages Ameritrade and E-Trade are in merger talks, brought calm to Wall Street after weeks of turmoil, helping the Dow Jones Industrial Average close up 145 points, or 1.1 percent. Still, there was fresh news of problems in the housing sector. Home builder Toll Brothers reported an 85 percent decline in quarterly earnings and Lehman Brothers said it is closing a mortgage unit to reduce exposure to the subprime market, shedding 1,200 jobs. Averting a crisis "The Fed's aggressive action to restore market liquidity will avert a financial crisis, but investors still must focus on threats to global growth and their implications for risky assets," said Richard Berner, analyst at Morgan Stanley. Given the magnitude of the problems in money markets, additional steps, "possibly unconventional ones" may be needed to restore market liquidity, he said. Investors are hoping the Fed will follow its discount rate cut with a similar easing of its overnight fed funds rate which currently stands at 5.25 percent. A cut could be made either at its next meeting on September 18, or even in an emergency move between meetings. UBS economist Maury Harris said the stabilization of markets reflects that expectation, "and failure to do so [cut the fed funds rate] could be destabilizing." "Arguably, there has been enough of a tightening in financial conditions to justify a lower funds rate even without more market turmoil," he said. UBS is expecting a 25 basis points cut in September and another in October. Other markets across Asia joined the rally Thursday. In Hong Kong, the Hang Seng gained 2.7 percent, buoyed by expectations of fund inflows from China's vast savings after the mainland government allowed its citizens to invest in Hong Kong stocks on a trial basis. "The focus is on corporate earnings and continued optimism over policies in China allowing residents to invest in Hong Kong-listed stocks," said Kenny Tang, associate director at Tung Tai Securities. The Korean Kospi was up 2.7 percent and the Singapore Straits Times rose 3.3 percent. In Australia, the S&P/ASX 200 rose 2.3 percent and the All Ordinaries was up 2.4 percent. Among smaller bourses, the Malaysian KLCI rose 2.3 percent and the Philippines Composite was up 2.8 percent. In Jakarta, the Composite was up 2.5 percent. |
| Useful To Me Not Useful To Me | |
