Japan

Financial News

Japan Stocks Retreat on Slowing Retail Sales, U.S., Europe Employment Data Japanese stocks dropped on retailers’ slowing sales and after worsening U.S. and European job data fueled concern the global economic slump will be prolonged.

Dollar Heads for Weekly Gain on Concern Global Recession Will Be Prolonged The dollar rose against the euro, heading for a weekly gain, as speculation the economic recovery is faltering boosted demand for the safety of the U.S. currency.

Kawasaki China Venture to Delay Second Ship Dock in Dalian as Demand Drops Kawasaki Heavy Industries Ltd.’s shipbuilding venture in China will delay operations of a second dock in Dalian by three years as the global recession dries up demand.

Japanese Bonds Advance, Complete Third Weekly Advance, as Stocks Decline Japanese bonds rose for a third week as Asian stocks extended a slide in global shares after the world’s biggest economy lost more jobs last month than economists forecast, spurring demand for government debt.

JPMorgan Said to Hire Ex-Merrill Technology Banker Somemiya for Japan M&A JPMorgan Chase & Co. hired Hideki Somemiya from Merrill Lynch Japan Securities Co. to boost its merger advisory and equity underwriting business for Japanese technology companies, two people familiar with the hiring said.

Tamaki to Head Japan's Foreign-Exchange Policy; Mikuniya to Oversee Banks Japan appointed a new top currency official and financial regulator in a regular reshuffle that strategists say is unlikely to result in a major shift in the government’s currency and banking policies.

T. Rowe Price Plans to Sell Japan's Bonds as Government Issues Record Debt T. Rowe Price Group Inc., which manages $268.8 billion in assets worldwide, plans to reduce its holdings of Japanese bonds this year on speculation the nation’s swelling debt sales will overwhelm investor demand.

Nippon Yusen Expects China's Demand for Iron Ore Imports to Help Earnings Nippon Yusen K.K., the world’s second- largest ship operator, predicted profit at its capesize division for shipping iron ore will be higher than originally forecast this fiscal year on demand for the steel ingredient from China.

General News

Belc, Daiei, Nissen, Pasona, Sompo Japan, Wakita: Japan Equity Preview The following companies may have unusual price changes in Japanese trading on July 6. Stock symbols are in parentheses, and share prices are from the previous close. The information in each item was released after markets shut, unless stated otherwise.

South Korea Will Stockpile Enough Swine Flu Vaccine to Treat 13 Million South Korea plans to secure enough swine flu vaccine for 13 million people, or 27 percent of the nation’s population.

Shiozaki, Other LDP Members Oppose Early August Election, Yomiuri Reports There is increasing opposition within Japan’s ruling Liberal Democratic Party against any plan by Prime Minister Taro Aso to hold elections in early August, the Yomiuri newspaper said, citing unnamed party sources.

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