JAPAN

Asian stocks rose on Wednesday as investors cheered a manufacturing rebound in China and rosier-than-expected Australian growth, which halted the yen's advance toward a 15-year peak against the dollar.

Asian stocks rose on Wednesday as investors cheered a manufacturing rebound in China and stronger-than-expected growth in Australia, while the yen inched up towards a 15-year peak against the dollar.

China's manufacturing sector regained some momentum in August while India and Russia continued to power ahead, cheering investors in the face of signs that sputtering U.S. recovery was cooling global demand.

Yahoo Japan Corp and U.S. firm Google Inc are broadening the scope of their video delivery services in Japan, the Nikkei business daily reported.

Hitachi Ltd <6501.T> is planning an initial public offering of its hard-drive unit in the United States, possibly by year's end, sources familiar with the situation said.

Japanese powerbroker Ichiro Ozawa said on Tuesday he would stick to his plan to challenge Prime Minister Naoto Kan in a party election, setting up a showdown that threatens to create a policy vacuum as Japan struggles with a strong yen and a fragile economy.

Japanese Prime Minister Naoto Kan and powerbroker Ichiro Ozawa were to meet at 5 p.m. (0800) on Tuesday, Jiji news agency said, as the party tried to avoid a clash in a leadership race that could create a policy vacuum as Japan struggles with a strong yen and fragile economy.

Japanese factory output edged up in July but manufacturing activity in August expanded at its slowest pace in more than a year, suggesting that companies were starting to feel the pinch from an export slowdown and a strong yen.

Japan led Asian stocks lower on Tuesday as worries about the flagging U.S. economy triggered profit taking across the region and fed a five-month rally in U.S. and Japanese government bonds.

Australian Prime Minister Julia Gillard on Tuesday claimed her Labor Party was best placed to run a stable minority government after the election dead heat, warning of political gridlock if a consensus is not found.

South Korea welcomed expanded U.S. financial sanctions against North Korea on Tuesday, but made its first large-scale offer of aid to its destitute neighbour since the sinking of one of its warships in March.

World oil prices continued its southern journey in Asian trade Tuesday and dropped below $74 a barrel as equity markets slump amid concerns over global economic growth.

Japan led Asian stocks lower on Tuesday as worries about the flagging U.S. economy triggered profit taking across the region and fed a five-month rally in U.S. and Japanese government bonds.

Tokyo stocks fell 3 percent on Tuesday, their worst daily drop in three months, after the Bank of Japan's emergency moves the day before failed to curb the yen's strength and disheartened investors bailed out of the market.

Japanese powerbroker Ichiro Ozawa may withdraw his challenge to Prime Minister Naoto Kan in a party leadership race, Jiji news agency said on Monday, as Kan's predecessor sought to avert a clash that could split the party.

North Korea's leader Kim Jong-il wants an early restart to stalled nuclear disarmament talks, Chinese state media said on Monday, ending official silence about Kim's secretive five-day trip ahead of a key congress.

The Bank of Japan boosted its cheap loan scheme on Monday, bowing to government pressure for action to protect a fragile recovery by curbing the yen's rise, while cabinet ministers signalled they may intervene to weaken the currency.

The Bank of Japan boosted its cheap loan scheme on Monday, bowing to government pressure for action to protect a fragile recovery by curbing the yen's rise, while cabinet ministers signalled they may intervene to weaken the currency.

China confirmed to foreign diplomats in Beijing on Monday that North Korean leader Kim Jong-il had visited the country, Japan's Kyodo news agency said, as Chinese state media praised ties with the isolated country.

The Bank of Japan expanded its cheap loan scheme on Monday, heeding government calls for action to curb a rise in the yen that threatens a fragile economic recovery and leaving the door open to more policy easing.

A former Taiwanese diplomat who says he wants to save American International Group's Taiwan unit from being bought by a Chinese firm is lining up a $2.5 billion bid with Japanese and Middle Eastern money.