JAPAN DAYBOOK: Clinton Says China as ‘Special Role’ to Play

Japan’s cabinet meets at 10 a.m., followed by briefings from Finance Minister Yoshihiko Noda, Economy Minister Banri Kaieda and other ministers. The Ministry of Finance will auction 600 billion yen ($7 billion) of 30-year bonds, followed by 2.4 trillion yen of five-year notes on Dec. 9.

TOP STORIES *U.S. Secretary of State Hillary Clinton, in a briefing with foreign ministers from Japan and South Korea, said China has a “special role” to pay in urging North Korea to stop “provocative and belligerent” actions.

MEDIA *NEC to Raise Production of Auto Battery Materials, Nikkei *Toshiba to Sell 80 Billion Yen in Bonds, Nikkei Says *Gunze, Coretronic to Establish Guangzhou Factory, Nikkei *Sumitomo Begins Talks to Acquire Molycorp Stake, Nikkei

WHAT TO WATCH *Japan auctions 600 billion yen in 30-year bonds with results released at 12:45 p.m. *International Monetary Fund economist Philip Gerson speaks in Tokyo at 2 p.m.

MARKETS *U.S. stocks fell, snapping a three-day rally in the Standard & Poor’s 500 Index, after Federal Reserve Chairman Ben S. Bernanke said the world’s largest economy may need more stimulus.

*The euro fell against most of its major counterparts as European officials showed divisions about how to contain the sovereign-debt crisis, damping appetite for the region’s currency.

*Gold futures jumped to a record $1,429.40 an ounce on concern the U.S. will pump more cash into the economy and Europe’s debt woes will spread, boosting the appeal of the metal as an alternative to currencies.


EQUITY PREVIEW *Bridgestone Corp. (5108 JT) plans to raise Japanese prices of truck and bus tires by an average of 7 percent after rubber and petrochemical costs increased. The stock slid 0.4 percent to 1,647 yen.

ANALYST RATINGS OF NIKKEI 225 COMPANIES *Hitachi Construction Materials (6305 JP) initiated neutral at Daiwa. *JFE Holdings (5411 JP) cut to neutral at Macquarie. *Sumitomo Metal Industries (5405 JP) cut to neutral at Macquarie. *Nippon Steel (5401 JP) cut to neutral at Macquarie. *Konami (9766 JP) initiated underperform at Nikko.

BLOOMBERG TV *09:10 Citigroup Asia-Pacific CEO Steven Bird.

To contact the editor responsible for this story: Steven McPherson at smcpherson@bloomberg.net

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