JAPAN

The dollar hovered near a two-week low against a basket of currencies on Monday and Asian stocks were pinned in tight trading ranges as weak U.S. economic data and fears of a Greek debt default kept many investors on the sidelines.

The crippled Fukushima Daiichi power plant in northeastern Japan hit by another blow as the system to cool the nuclear reactor and fuel pool has stopped at its No. 5 unit.

After the March 11 disaster crisis, the Japanese people seem to have lost their confidence on Prime Minister Naoto Kan. While 70 percent of Japanese voters want a replacement for Kan, nearly half of them think he should continue as the PM.

Add a manufacturing slowdown to the growing risks facing the world economy.

Group of Eight leaders unanimously back French Finance Minister Christine Lagarde's bid to become the next head of the International Monetary Fund, Foreign Minister Alain Juppe said on Sunday.

Concerns were raised as Lockheed Martin became the latest victim in a sophisticated cyber attack on the RSA SecurID authentication system allowing hackers to breach into the largest U.S. weapons manufacturer's network.

The equivocal, baby step rhetoric of the SNB - together with Swiss exporters' reluctance to give up the benefits of a weaker Swiss Franc - suggest that we shouldn't expect Switzerland either to race away from the bottom just yet.

Sony Corp said it will start restoring its PlayStation videogame network in Japan and elsewhere in Asia on Saturday, more than a month after a massive security breach leaked personal details on tens of millions of accounts.

Sony said it would begin restoring its PlayStation videogame network in Japan and elsewhere in Asia Saturday, more than a month after a massive security breach leaked personal details on tens of millions of accounts.

The economy remained sluggish early in the second quarter as high gasoline prices crimped consumer spending and bad weather helped push pending home sales to a seven-month low in April.

Ratings agency Fitch on Friday cut its outlook on Japan's sovereign debt, warning that the vast cost of a March earthquake and tsunami and the still-unknown bill for the clean-up after the nuclear disaster would further strain the country's already shaky public finances.

The U.S. economy remained sluggish early in the second quarter with high gasoline prices crimping consumer spending and bad weather helping to push pending home sales to a seven-month low in April.

The Group of Eight leaders agreed on Friday that the global economy recovery was becoming more self-sustained, although higher commodity prices were hampering further growth.

Ratings agency Fitch on Friday cut its outlook on Japan's sovereign debt to negative from stable, warning that the massive cost of a March earthquake and tsunami would put added strain on the country's already shaky public finances.

The outlook for China's car industry had turned to neutral from positive, weighed down by factors such as rising inflation and weaker consumer confidence, the top executive of SAIC Motor Corp <600104.SS> said on Friday.

Production at Toyota Motor Corp <7203.T> and Honda Motor Co <7267.T> is likely to recover more quickly than initially feared after Japan's massive earthquake wreaked havoc with their supply chains and halved output in April.

Europe's shares advanced on Friday, led higher by banks after a media report that stringent capital requirements for European banks could be relaxed, and helping power world stocks up for the fourth straight day.

On the first day of the G8 Summit, the presidents of the European Commission and council and the leaders of the Group of Eight countries seemed primary to be focusing on the political situation in Middle East and North Africa, the debt crisis within EU and Japan's post-quake reconstruction, reported news.xinhuanet.com on Friday.

Asian stocks posted solid gains for a second consecutive day on Friday as market players scooped up bargains while the euro pushed higher, though the currency's gains may be limited for now as fears of a Greek default weighed on sentiment.

Japan's ruling party power broker Ichiro Ozawa is ready to challenge Prime Minister Naoto Kan, adding to the pressure on the unpopular leader as he struggles with the nuclear crisis, the Wall Street Journal reported on Friday.

The United States will help Japan as it copes with the massive earthquake, tsunami and nuclear crisis, and tries to rebuild its state, President Barack Obama said on Thursday, soothing a rift between the two allies over the atomic disaster.