Asian stocks recovered after last week's steep sell-off over the Dubai debt crisis on growing speculation the fallout from a potential default will be limited, while assurances from various authorities also helped calm nerves.
Asian stocks recovered after last week's steep sell-off over the Dubai debt crisis as investors nerves steadied on hopes that the fallout of a potential default will be limited.
Toto, Japan's No.1 toilet maker, expects to meet its earnings forecasts despite the yen's recent surge by capitalizing on an earlier-than-expected demand recovery in China and cost cuts, its president said on Monday.
Japanese Prime Minister Yukio Hatoyama and Bank of Japan Governor Masaaki Shirakawa will meet next week, two sources with direct knowledge of the matter said, as a surging yen adds to debate over central bank policy.
World leaders expressed confidence in the global economic recovery on Friday despite fears about a debt default by Gulf emirate Dubai, while major banks played down their exposure to the debt.
British banks have far greater exposure to potential problem debts in the United Arab Emirates than rivals in France, the United States, Japan or anywhere else, loans data show, as worries mount about the region.
Softbank Corp, Japan's third-largest mobile phone operator, is among the bidders for struggling telecoms firm Willcom Inc, the Yomiuri newspaper reported on Friday.
Subaru maker Fuji Heavy Industries continues to charge ahead in the key U.S. market with sales seen jumping by a fifth this month, but it faces a lot of work to boost its earnings power, its CEO said on Friday.
Japan and China agreed on Friday to conduct their first joint military training exercise, in the latest sign of warming ties between the Asian neighbors, long marked by mutual suspicion and spats over a range of issues.
The yen hit a 14-year high versus the dollar and rallied broadly on Friday, while the dollar jumped against most other currencies as investors cut carry trades and risk exposure on concern about Dubai's debt problems.
Dubai debt default concerns continued to send shockwaves across the world on Friday, with heightened risk aversion pushing global equities sharply lower and prompting investors to take refuge in government bonds.
The yen hit a 14-year high versus the dollar and rallied broadly on Friday, while the dollar jumped against most other currencies as investors cut carry trades and risk exposure on concern about Dubai's debt problems.
U.S. stock index futures pointed to a sharp drop when Wall Street reopens on Friday for half a session following Thanksgiving, as fears over Dubai's debt woes knocked stock markets around the world.
The Bank of Japan stepped closer to currency intervention on Friday than at any time in the last five years by checking exchange rates with commercial banks as the yen rallied to a 14-year high against the dollar.
Investors recoiled from risky assets on Friday and dumped shares in Asian banks and builders, fearing a Dubai debt default could reignite the financial turmoil of the credit crisis.
Asia stocks slumped on Friday as shockwaves from Dubai's debt crisis hit the region, shaking banking shares and boosting the yen to a fresh 14-year high against a struggling dollar as investors unwound risky trades.
Japan's finance minister raised the prospect of a Group of Seven joint statement on currencies to cool the yen's rally as the dollar tumbled to a 14-year low against the yen on Friday.
Asian stocks slumped on Friday as the Dubai-debt shockwaves hit the region, shaking banking shares and pushing the yen to a fresh 14-year high against a struggling dollar as investors unwound risky trades.
Japanese consumer price index excluding volatile food and energy prices slid in the year to October at the fastest rate since 2001 with increasing signs that weak demand is weighing on prices, while a tumbling dollar adds to price pressures.
The Australian Dollar opens lower today at 0.9140 after a volatile local session on Thursday. The Aussie's foray above US93 cents due to a weak greenback was short-lived after the release of third-quarter capital expenditure data which fell 3.9 per cent. The unit fell sharply to an intraday low of 0.9230 ahead of a move back up to 0.9245 heading into European trade. In offshore trade, the unit moved between a high of 0.9245 down to 0.9100 on renewed risk aversion, however volumes were far thinn...
South Korea has launched a dispute at the World Trade Organization against the United States over U.S. measures to raise prices on imports of steel, a South Korean embassy official said on Thursday.
Sumitomo Trust and Banking has hired Daiwa Securities SMBC and UBS AG to advise on its planned merger with Chuo Mitsui Trust Holdings, three people with knowledge of the matter said.
