2010/09/16 18:00*DJ UK CBI: Sep Industrial Export Orders -5 Vs Aug -1
2010/09/16 18:00*DJ UK CBI: Sep Industrial Output Balance +12 Vs Aug +10
2010/09/16 17:32*DJ Hungarian 12-Month Treasury Bill Average Yield Set At 5.80%
2010/09/16 17:32*DJ Hungary Sells HUF50B 12-Month Treasury Bills
2010/09/16 17:30=DJ European Car Market Shrinks 12% In August
2010/09/16 17:30DJ Japan Vice Finance Minister: Won't Run Out Of Money For Intervention
TOKYO -Japanese senior vice finance minister Motohisa Ikeda said Thursday the government will not run out of funds needed to continue intervening in the foreign exchange market. 'As for the market intervention we started yesterday, there is no possibility that we will face a shortage of funds' to continue the yen-selling campaign in the future, Ikeda said at a regular news conference.
2010/09/16 17:27=DJ DATA SNAP: Euro Zone Posted Trade Surplus In July
2010/09/16 17:22*DJ India Finance Minister:RBI Rate Hikes Been In Right Direction
2010/09/16 17:19*DJ India Adviser: Can't Rule Out More Rate Hikes By RBI
2010/09/16 17:16*DJ Japan PM Kan To Retain Gemba As DPJ's Policy Chief - Kyodo
2010/09/16 17:07*DJ 3-Month Euribor Rises To 0.879% Vs 0.876% Wednesday
2010/09/16 17:02*DJ Japan Vice Fin Min Ikeda: No Defense Line In Dollar/Yen Rate
2010/09/16 17:01=DJ DATA SNAP: UK Year-Ahead CPI Expectations Highest Since Aug 2008
2010/09/16 17:01*DJ Euro-Zone Jul Trade Balance Was Forecast EUR0.0B
2010/09/16 17:01*DJ Euro-Zone Jun Trade Revised To Surplus EUR2.2B
2010/09/16 17:00*DJ Euro-Zone Jul Trade Surplus EUR6.7B Vs Surplus EUR11.9B Jul 2009
2010/09/16 16:59*DJ Japan Vice Fin Min Ikeda: Expect To Mull Further Easing
2010/09/16 16:58*DJ Japan Vice Fin Min Ikeda: No Negative Foreign Response To Japan Action So Far
2010/09/16 16:58*DJ Japan Vice Fin Min Ikeda: Will Act In Forex Mkt Without Preconception
2010/09/16 16:58*DJ Japan Vice Fin Min Ikeda: Expects BOJ To Leave Intervention Funds In Mkts
2010/09/16 16:57=DJ DATA SNAP: UK Aug Retail Sales Weaker Than Expected
2010/09/16 16:56*DJ Japan Vice Fin Min Ikeda: Forex Intervention Has Monetary Easing Effect
2010/09/16 16:56*DJ German Labor Min: Unemployment Possibly Below 3M By Year-End
2010/09/16 16:55*DJ 10Y Spanish/German Yield Spread At 172Bps After Auction
2010/09/16 16:51*DJ Euro Rises To Fresh One Month High Above $1.3037 - EBS
2010/09/16 16:50*DJ Japan Vice Fin Min Ikeda: Must Pay Attention To Yen Impact On Small Cos
2010/09/16 16:49*DJ Japan Vice Fin Min Ikeda: Recent Intervention Meaningful
2010/09/16 16:47*DJ Spanish October 2020 Bond Bid-To-Cover Ratio 2.32
2010/09/16 16:46DJ French Budget Min: May Outdo 2010 Deficit Aim; Shows Crisis Exit
PARIS -French Budget Minister Francois Baroin Thursday reiterated recent government comments that it could outperform its 2010 deficit target, saying this shows the country's economy to be emerging from the crisis. 'I already announced last Tuesday that we would have a deficit level below 8 (% of gross domestic product in 2010),' Baroin said in an interview on LCI television. 'Will we fall to 7.9 (%)? Will we fall to 7.8 (%)? It's really achievable,' he said, adding: 'It means that we are really exiting the crisis.' Baroin also reiterated recent government optimism for growth in 2010, saying the country is likely to achieve 1.5% GDP growth or 'even a bit more.' He also reiterated the objective for EUR40 billion of savings in the forthcoming 2011 budget.
2010/09/16 16:45*DJ Spain Sells EUR2.723B October 2020 Bond
2010/09/16 16:45*DJ Spanish July 2041 Bond Maximum Yield Set At 5.081%
2010/09/16 16:44*DJ Spain Sells EUR1.277B July 2041 Bond
2010/09/16 16:44*DJ Spanish October 2020 Bond Maximum Yield Set At 4.164%
2010/09/16 16:43*DJ Japan Vice Fin Min Ikeda: No Comment On If Intervened In Tokyo
2010/09/16 16:40*DJ 10 UK/German Yield Spread Lower At 66Bps After UK Retail Sales
2010/09/16 16:36DJ Japan Prime Minister Warns Of More Action On Yen - FT
Japan's Prime Minister Naoto Kan said Thursday his government was ready to take further 'resolute action' in currency markets, the Financial Times reported on its website. Kan said the strong yen and weak stock market had 'added to uncertainty' about the Japanese economy, the report said. It said Kan was speaking to the Japan Chamber of Commerce and Industry. 'We will absolutely not permit precipitous moves in the yen,' Kan was quoted as saying. Full story: http://www.ft.com/cms/s/0/497c7548-c157-11df-8e030144feab49a.html
2010/09/16 16:35*DJ Gilts Off Lows After Weak UK Retail Sales Data
2010/09/16 16:34*DJ Sterling Falls Sharply On Unexpected Decline In Retail Sales
2010/09/16 16:33*DJ BOE: UK Year Ahead CPI Expectations Highest Since August 2008
2010/09/16 16:32*DJ BOE: UK Year Ahead CPI Expectations 3.4% In Aug Vs 3.3% In May
2010/09/16 16:30*DJ UK Aug Retail Sales -0.5% On Mo; +0.4% On Yr
2010/09/16 16:30*DJ UK Aug Retail Sales Forecast +0.3% On Mo; +2.0% On Yr
2010/09/16 16:25DJ Economics Minister Bruederle: German 2010 GDP Clearly Above +2.5%
BERLIN -Germany's economy could grow clearly above 2.5% this year, Germany's Economics Minister Rainer Bruederle said Thursday, adding that the recovery will deliver an upswing in employment. 'The growth pace will stabilize in autumn, but gross domestic product could come in at an annualized rate of clearly above 2.5% growth. This is almost twice as much as what we had forecast at the beginning of the year,' he told lawmakers in the lower house of parliament during a debate on the 2011 budget. His comments come after various economic research institutes and the European Commission raised their growth forecast for Europe's largest economy in recent days, with the Commission Monday forecasting growth of 3.4% for this year. The German economy posted quarterly growth of 2.2% in the second quarter. The government is due to revise its 2010 growth forecast Oct. 21 and an upward revision from the 1.4% projection given in April is expected. 'The upswing has grown wings. Growth in last quarter was the strongest in 10 years. Germany has digested the financial and economic crisis faster than expected,' Bruederle said. 'Of course there are risks, but we have scraped through ... Optimism is justified.' Website: www.bundesregierung.de
2010/09/16 16:25DJ Okada Says He Accepted Kan's Offer To Become DPJ Secretary General - Kyodo
TOKYO -Japanese Foreign Minister Katsuya Okada said Thursday he has accepted Prime Minister Naoto Kan's offer to take the ruling Democratic Party of Japan's No. 2 post of secretary general, Kyodo News reported. Okada's acceptance came after his meeting with Kan, who also heads the DPJ, at the premier's office earlier in the day. Okada will replace Yukio Edano in the party.
2010/09/16 16:22DJ Russian Central Bank Reserves Down $1.6 Billion On Week
MOSCOW -Russian gold and foreign-exchange reserves fell $1.6 billion to $475.7 billion in the week to Sept. 10, the central bank said in a statement Thursday.The decrease comes after reserves grew by $1.5 billion in the week ended Sep. 3.Russia holds the world's third-largest gold and foreign-exchange reserves after China and Japan.
2010/09/16 16:15=DJ Japan Has Poor Track Record In Weakening Yen
2010/09/16 16:14*DJ HSBC Raised To Neutral From Underperform By Exane BNP Paribas
2010/09/16 16:00*DJ Japan Prime Minister Warns Of More Action On Yen - FT
2010/09/16 15:59DJ Tokyo Shares End Lower; Exporters Trim Gains On Yen Rebound -2-
2010/09/16 15:55DJ Citigroup Will Make Acquisitions In Asia 'Opportunistically'
TAIPEI -Citigoup Inc. will make acquisitions in Asia 'opportunistically' as the firm's growth in the region is likely to be organic, Stephen Bird, Asia-Pacific co-chief executive, said Thursday.Citigroup is still in talks to buy a stake in a Chinese brokerage, he said at a news briefing in Taipei, without giving details.
2010/09/16 15:51DJ IMF Reiterates Russia 2010 Growth Forecast At 4.3%
MOSCOW -The International Monetary Fund Thursday reiterated its forecast for Russian economic growth this year at 4.3%, but said the country faces a big challenge in withdrawing financial stimulus from its economy.The head of the IMF in Russia, Odd Per Brekk, said the 4.3% growth forecast may be revised "very slightly."He also said a recent increase in inflation is driven by a supply shock, and that a reaction from the Russian central bank isn't required.
2010/09/16 15:49=DJ UPDATE: Alibaba: Made Offer To Buy Back Part Of Yahoo's Stake
BEIJING -Chinese Internet giant Alibaba Group offered to buy back part of Yahoo Inc.'s 39% stake in Alibaba, but Yahoo rejected the offer, Alibaba spokesman John Spelich said in a statement Thursday.The relationship between the two companies has been deteriorating in recent months. In January, Alibaba publicly criticized Yahoo for supporting Google Inc.'s complaints about cyber attacks and censorship in China.Last week, Spelich said the company may have to re-evaluate its relationship with Yahoo following comments by a Yahoo executive about the company's search for advertising from small and medium-sized enterprises in Guangdong province, which may have indicated the two firms are competing for advertisers in mainland China.In his statement Thursday, Spelich said Alibaba's offer included Yahoo selling some of its stake in Alibaba and 'a specific plan to maximize the value of (Yahoo's) remaining stake.'Yahoo countered with its own proposal for a stake sale that Alibaba found 'unjustifiable,' the statement said.On Wednesday, Yahoo Chief Executive Carol Bartz said the company has no plans to sell its stake in Alibaba, and added she will 'probably' join Alibaba's board later this year, when Yahoo gets a second Alibaba board seat under its 2005 agreement with the company.'Regarding reports of Carol Bartz seeking a board seat, we have no notice of that,' Spelich said in his statement Thursday.Yahoo spokeswoman May Petry declined to comment beyond what Bartz said Wednesday. She cited Bartz as saying Yahoo has been 'constantly approached' by Alibaba with proposals to buy back the stake.On Wednesday, traders bet that Yahoo's stock would rise if it sold its stake in Alibaba. Trading in Yahoo's call options took off after Susquehanna analyst Marianne Wolk said a sale of Yahoo's stake in the Alibaba Group 'could be imminent.' Yahoo shares ended up 4.7% Wednesday at $14.27.In a report, Susquehanna estimated that Yahoo's stake in Alibaba group is worth $8 billion-$11 billion.Alibaba Group is the parent company of Hong Kong-listed Alibaba.com Ltd. and other Internet businesses.
2010/09/16 15:44*DJ Okada Says He Accepted Kan's Offer To Become DPJ Secretary General - Kyodo
2010/09/16 15:41DJ BOJ Governor: Ready To Do More In Face Of Economic Downside Risk
TOKYO -Bank of Japan Gov. Masaaki Shirakawa reiterated Thursday that the central bank is ready to implement further monetary policy steps, as the bank needs to pay more attention to downside risks to the domestic economy. 'As for monetary policy steering, because uncertainty is high, the BOJ will take policy steps in a timely and appropriate manner, if judged necessary, after carefully examining the future course of the economy and prices,' Shirakawa said at an event held by the Japan Securities Dealers Association in Tokyo. At its September meeting, the BOJ's policy board voted to leave its policy interest-rate target at 0.1%, where it has been since December 2008, and took no further unconventional easing steps. But under intense pressure from the government as well as from markets to do more to fight the yen's rise, the BOJ on Aug. 30 expanded a special lending program at an emergency policy meeting. The bank decided to offer financial institutions Y10 trillion worth of six-month loans at a rock-bottom 0.1% interest, in addition to the Y20 trillion in three-month loans it has been offering over the past few months.
2010/09/16 15:32*DJ Kan Asks Okada To Become DPJ Secretary General - Kyodo
2010/09/16 15:30DJ India RBI Raises Repo Rate By 25 BPs, Reverse Repo Rate By 50 BPs
MUMBAI -India's central bank Thursday lifted its key lending rate by 25 basis points, but raised its borrowing rate by a more than expected 50 basis points as it seeks to curb inflationary expectations in an economy showing strong growth. The Reserve Bank of India raised the repurchase, or lending, rate to 6.00% and the reverse repurchase, or borrowing, rate to 5.00%, it said in a press release posted on its website. 'Inflation remains the dominant concern in macroeconomic management,' the RBI said in its mid-quarter review of monetary policy. This closes the gap between the two rates to 100 basis points, which the RBI said will reduce volatility in overnight call rates and help strengthen monetary transmission.
2010/09/16 15:26DJ JGBs Up As BOJ Response To MOF Intervention Suggests Further Easing
TOKYO -Japanese government bonds rose Thursday as investors interpreted the central bank's decision to inject funds into the money market as a sign that it's loosening monetary conditions to help the government fight the strong yen. The result of the Bank of Japan's money market operations Thursday means that the BOJ has so far avoided draining funds from the government's yen-selling intervention Wednesday, estimated by some market participants at a record Y2 trillion. The Ministry of Finance intervened in the currency market Wednesday for the first time in more than six years after the yen surged to a 15-year high against the dollar. 'Intervention has shifted the BOJ's policy direction to further policy easing,' said Tetsuya Miura, the chief market analyst at Mizuho Securities. 'The bond market is probably the one that benefits the most from intervention.' So-called unsterilized intervention is considered a form of monetary policy easing because it essentially boosts the supply of yen, which tends to put downward pressure on market interest rates. The BOJ of Japan has been under intense pressure from the government to help it fight the strong yen and entrenched deflation in order to support a fragile recovery in the economy. The central bank injected Y1 trillion into the money market Thursday afternoon, topping the Y700 billion infusion the market had expected, after skipping its morning operation. As of 0600GMT, the two-year yield was down 0.5 basis point at 0.125% while the five-year yield was at 0.295%, down one basis point. The benchmark 10-year yield was 0.5 basis point higher at 1.045%, while the 20-year yield gained two basis points to 1.770% and the 30-year yield was at 1.885%, 1.5 basis points higher. In addition to possible unsterilized intervention, the BOJ may ease its monetary policy further next month, said RuiXue Xu, rates strategist at RBS Securities Japan. 'Now it's more likely that the government will put more pressure on the BOJ to take more easing steps' at the next scheduled policy meeting between Oct. 4 and Oct. 5, she said.
2010/09/16 15:21=DJ WORLD FOREX: Yen Recovers Bit Vs Dlr, Euro; No Intervention Seen -3-
2010/09/16 15:18DJ Japan Steel Federation Head: Think Forex Intervention Quick, Appropriate -Kyodo
TOKYO -The head of Japan's steel industry association on Thursday said the government's currency market intervention Wednesday was quick and appropriate, Kyodo News reported. Eiji Hayashida, chairman of the Japan Iron and Steel Federation, told reporters at a news conference that he welcomes the government's action, which came soon after the ruling Democratic Party of Japan's leadership race. The economic outlook has been cloudy but Hayashida believes the government has responded appropriately, Kyodo reported.
2010/09/16 15:16=DJ MONEY TALKS: Japan Does Its Bit To Stir Global Balances Fight
2010/09/16 15:14*DJ Germany's Bruederle: To Gradually Reduce Crisis Support Measures
2010/09/16 15:14*DJ Germany's Bruederle: Unemployment Below 3M In Autumn Reachable
2010/09/16 15:14*DJ German Econ Minister: 2010 GDP Clearly Above +2.5%
2010/09/16 15:07DJ Tokyo Shares End Lower; Exporters Trim Gains On Yen Rebound
2010/09/16 15:04*DJ FTSE 100 Dn 0.1% After The Open
2010/09/16 15:01*DJ Citigroup: Still In Talks To Buy Stake In Chinese Brokerage
2010/09/16 15:01DJ Forex Options: Dollar/Yen Options Down; Geithner Comments Awaited
TOKYO -Dollar/yen options fell sharply in Tokyo Thursday as the underlying exchange rate hovered well above the psychologically important Y85.00 during Asian morning trade, reducing demand for protection against currency fluctuation. However declines may be short lived if U.S. Treasury Secretary Timothy Geithner says anything negative at U.S. Congressional hearings about the Japanese government's currency market intervention. Benchmark volatilities surged yesterday after Japan's Ministry of Finance sold the yen to help curb its recent rise, triggering a sharp ascent in the dollar against the Japanese currency. Speculation of further intervention then helped push benchmark volatilities even lower Thursday, said an options dealer at a major Japanese bank. Benchmark one-month at-the-money dollar/yen volatilities dropped to 11.10%/11.70% in Tokyo from 11.80%/12.50% in New York Wednesday. If the exchange rate stays around its current level for the remainder of the global day, volatilities may decline 20 basis points; and if the dollar gradually rises against the yen, volatilities may decline toward 10.5% in the near term, the dealer said. However the Treasury's Geithner is scheduled to speak at Congressional hearings at 1400 GMT and 1800 GMT. If he says anything negative about Japan's intervention, the dollar may resume falling against the yen--pushing up volatilities--as that would discourage Japanese authorities from continued intervention.
2010/09/16 15:01*DJ Citigroup: Will Do Acquisitions In Asia Only Opportunistically
2010/09/16 14:59=DJ WORLD FOREX: Yen Recovers Bit Vs Dlr, Euro; No Intervention Seen -2-
2010/09/16 14:53*DJ BOJ Shirakawa: Japan Financial System Stable Overall
2010/09/16 14:49*DJ BOJ Shirakawa: Will Keep Injecting Ample Funds Into Mkt
2010/09/16 14:48*DJ BOJ Shirakawa: Need To Pay More Attention To Downside Risks
2010/09/16 14:48*DJ BOJ Shirakawa: Acknowlege FX, Stock Mkts Unstable
2010/09/16 14:46DJ India Finance Minister: Economic Growth Won't Be Lower Than 8.5%
NEW DELHI -India's economic growth won't be lower than 8.5% this fiscal year through March 2011, Finance Minister Pranab Mukherjee said Thursday.'It won't be difficult to achieve 9% growth in 2011-12,' Mukherjee said at a conference.India's economy grew 7.4% last fiscal year.
2010/09/16 14:46*DJ BOJ Shirakawa: Japan Economy Shows Signs Of Moderate Recovery
2010/09/16 14:45*DJ BOJ Shirakawa: Global Econ Recovery Slowing Down, Especially In US
2010/09/16 14:44DJ Japan Oil Federation: Rapid FX Change May Cause Big Petro Product Price Change -Kyodo
TOKYO -The head of the Petroleum Association of Japan Thursday warned that big fluctuations in the yen may lead to a big change in retail prices for petroleum products, Kyodo News reported. The association chairman Akihiko Tenbo told a news conference that the oil industry in Japan is not so much worried about foreign exchange levels as long as they remain stable. But he said a bit more weaknesses in the Japanese currency is good for the Japanese economy on whole.
2010/09/16 14:42*DJ India RBI Raises Reverse Repo Rate By 50BPs To 5.00%
2010/09/16 14:42*DJ India RBI Raises Repo Rate By 25BPs To 6.00%
2010/09/16 14:41=DJ 2nd UPDATE: Exim Bank VP: Jointly Own Asean Fund With CIC, Others
2010/09/16 14:22=DJ WORLD FOREX: Yen Recovers Bit Vs Dlr, Euro; No Intervention Seen
2010/09/16 14:18=DJ UPDATE: CIC: Emerging Markets Gaining Importance As Investment Destinations
BEIJING -Emerging markets are rising in importance as investment destinations, because returns in mature fixed-income markets such as the U.S. and Europe are likely to stay low for five to 10 years, a China Investment Corp. executive said Thursday, offering a rare glimpse into the sovereign-wealth fund's view of the global investment trend.'In the long run, at least in the next five to 10 years, we are going to see a long period of very low growth, low rates, and low return in mature world like the U.S. and Europe,' said Ludwig He, CIC's managing director and head of public markets investment.Brazil's inflation-linked bond market helps ease investor fears about market volatility, he said at the Latin America China Investors Forum. 'In general, it is very important for emerging countries to have a stable bond market to attract foreign investors,' he said.Inflation-linked bonds enable investors to protect themselves against rising prices because the principal is indexed to inflation.CIC has a 'very small amount' of investment in Brazil's inflation-linked bond market and also invests in Japanese government bonds as part of its diversified global asset allocation, he said in response to a reporter's question on the sidelines of the forum, but didn't disclose details.'Risks and returns co-exist' in the Japanese government bond market, he said without elaborating.The importance of emerging markets will likely increase in the long run, he said, adding that these markets, which are widely deemed to be alternative investment destinations, will increasingly become a part of investors' strategic consideration.Global investor interest in Latin American currencies may slowly rise in the long term, he said, but added it is understandable that some investors deem it necessary to hedge against risks in Latin American currencies, given the volatility in these markets.The world has been undergoing 'a continuous migration process' between developed and emerging markets, he said, adding investors should adopt a long-term and flexible view.'Who knows which currency will become the next hard currency?...Who knows which developed country will become the next emerging market?' he said.
2010/09/16 14:05*DJ Nikkei Stock Average Closes Down 0.1% At 9509.50
2010/09/16 14:03*DJ India Finance Minister: Economy Next FY May Grow 9%
2010/09/16 14:01*DJ India Finance Minister:FY Economic Growth Won't Be Lower Than 8.5%
2010/09/16 14:00DJ Airlines In Need Of Pilots And Maintenance Crew - Boeing
SINGAPORE --The commercial aviation industry will need more than a million pilots and maintenance personnel in the next 20 years, with Asia accounting for almost 40% of demand, Boeing Co. said Thursday. The U.S. plane maker estimated world demand at 466,650 pilots and 596,500 maintenance personnel from 2010 to 2029, of whom 180,600 pilots and 220,000 maintenance personnel would be needed in Asia, particularly in China. 'When you add up all the numbers you quickly understand the issues facing this industry,' Roei Ganzarski, chief customer officer for Boeing Training and Flight Services, told a news conference in Singapore. Maintenance personnel include engineers and mechanics. 'Our challenge is adapting our training to engage the future generation of people who will fly and maintain the more than 30,000 airplanes that will be delivered by 2029,' he said. The world commercial aviation fleet is forecast to grow from 18,890 planes in 2009 to 36,300 in 2029, Boeing said. Airline association IATA said in July that global air travel grew faster than expected in June led by a sharp improvement in Asia, particularly in China, following a severe slowdown during the global recession. 'The industry continues to recover faster than expected, but with sharp regional differences,' said IATA Director General Giovanni Bisignani. Boeing said that in the next 20 years, North America will need 97,350 pilots and 137,000 maintenance personnel while Europe will require 94,800 pilots and 122,000 maintenance personnel.
2010/09/16 13:56DJ Japan Foreign Min Okada May Be Appointed DPJ Secretary General - Kyodo
TOKYO -Prime Minister Naoto Kan is exploring the possibility of appointing Foreign Minister Katsuya Okada as secretary general of his Democratic Party of Japan, Kyodo News reported Thursday, citing ruling party sources.It remains uncertain whether Okada will indeed succeed Yukio Edano in the party post as he is said to be hoping to stay on as foreign minister.It is almost certain that Edano will leave the DPJ's No. 2 post and he may enter the Cabinet, the sources said.Kan is trying to finish forming the DPJ's leadership lineup by Thursday to win official approval for it at a meeting of all parliamentarians of the ruling party on Friday, the sources said.If Okada does not change his stance, transport minister Seiji Maehara could be a good candidate for the DPJ's No. 2 post, they said, adding that Kan is also trying to reshuffle the Cabinet on Friday.Among other key posts, Kan is hoping to keep Koichiro Gemba as head of the DPJ's policy research committee and sees Yoshio Hachiro as a good choice for DPJ Diet affairs chief, the sources said.
2010/09/16 13:46*DJ Japan Vice Fin Min: Think BOJ Leaving Intervention Unsterilized
2010/09/16 13:05*DJ BOT: Maintains 2010 GDP Growth Forecast Despite Strong Baht
2010/09/16 12:55=DJ FOCUS: Japan Runs Risk Of International Criticism
2010/09/16 12:53DJ BOJ Injects Y1 Tln Into Money Market At 0400 GMT
TOKYO -The Bank of Japan injected more than expected into the money market at its Thursday afternoon operation, the latest sign it isn't sterilizing the government's aggressive yen-selling to weaken the yen Wednesday. The central bank added Y1 trillion to the market in the regular operation, more than the approximately Y700 billion that market participants had expected.
2010/09/16 12:32DJ Next New Zealand Rate Hike To Come In March - Poll Of Economists
WELLINGTON -Economists are now tipping the Reserve Bank of New Zealand to raise the Official Cash Rate at its March rate review, according to a snap poll Thursday after the central bank held the policy rate at 3.00% and surprised markets with its dovish tone. In the poll, five economists said they now expect the next rate hike in March, one said sometime in the first quarter, two picked January but said there was a risk the central bank may hold off for longer, while two said December was possible. In the prior poll the median had been for a December hike. Economists said the tone of the statement, coupled with the bank's forecasts had changed their view. 'The generally dovish tone from the RBNZ accompanying their lowered 90-day interest rate profile is consistent with the next 25 basis point increase in rates occurring at the March 2011 Monetary Policy Statement,' said First NZ Capital Economist Chris Green.
2010/09/16 12:30DJ Japan Sengoku: No Comment On US Congress Response To Intervention
TOKYO -Japanese Chief Cabinet Secretary Yoshito Sengoku said Thursday he is not in a position to comment about the U.S. congress' response to the Japanese government's intervention in the foreign exchange market Wednesday, Kyodo News reported.His comment came after Rep. Sander Levin (D., Mich.) expressed concern about Japan's first intervention in more than six years at a hearing Wednesday, saying the Bank of Japan's intervention on behalf of the yen is 'deeply disturbing' and needs to be monitored closely by U.S. policy makers.Kyodo also quoted Sengoku as saying that there is no change in Prime Minister Naoto Kan's decision to form a new Cabinet within this week.
2010/09/16 12:18=DJ 2nd UPDATE: Exim Bank VP: Jointly Own Asean Fund With CIC, Others
BEIJING -Export-Import Bank of China owns 52% of a holding company it set up with China Investment Corp. and other institutions to manage a fund that invests in members of the Association of Southeast Asian Nations, and the sovereign wealth fund owns 24%, Exim Bank Vice President Zhu Xinqiang said Wednesday. Bank of China Group Investment Ltd., a wholly owned unit of state-controlled Bank of China Ltd. (3988.HK), has a 12% stake in the fund and state-controlled infrastructure and engineering firm China Communications Construction Co. (1800.HK) owns 8%, Zhu said, giving the first breakdown of the shareholding structure of China-Asean Investment Cooperation Fund. The establishment of the fund reflects China's growing ambitions in the Asean region. The fund, with support from the State Council, China's cabinet, will mainly invest in infrastructure and new energy sectors in 10 Asean countries, Zhu said on the sidelines of an investment forum in Beijing, adding members of the team that will run the Hong Kong-registered fund will be hired globally. He said Exim Bank and CIC have each invested $300 million in the fund, which raised $1 billion in its first round of fund-raising. The fund aims to raise $10 billion in total over the next eight years, he said. The fund was launched in April, Zhu said, but he didn't say if any investments have been made so far. He also said the board of International Finance Corp., the investment arm of the World Bank, recently approved a plan to take an 8% stake in the fund with a US$100 million investment. He didn't give a time frame or say whether IFC's participation would change the holding company's shareholding structure. An IFC spokesman confirmed the planned stake purchase, but said the IFC is still negotiating with the fund about some details and has yet to sign an agreement on the investment. A spokeswoman for CIC said she wasn't aware of CIC's investment in the fund. Zhu also said the government is still undecided on a plan to restructure Exim Bank. Various options are being discussed on injecting capital into the policy lender, such as through CIC's domestic investment arm, Central Huijin Investment Ltd., through the Ministry of Finance, or directly from the country's foreign-exchange reserves. He said he was aware of speculation the government might split Central Huijin from CIC, but that he hasn't received confirmation from the government on the matter. Exim Bank will remain a policy lender after the restructuring and won't introduce strategic investors, he reiterated. Exim Bank plans to issue three-year yuan bonds in Hong Kong in the fourth quarter to meet growing local demand, Zhu said, but declined to disclose the planned size of the bond issue, saying it will be subject to market conditions.
2010/09/16 12:08*DJ Money Market Op Results Suggest BOJ Leaves Some FX Intervention Funds In Market
2010/09/16 12:07*DJ BOJ Injects Y1 Tln Into Money Market At 0400 GMT
2010/09/16 11:49DJ Japan MOF Official: Will Intervene When Appropriate
TOKYO -Japan's government will intervene again in the currency market when deemed necessary, a finance ministry official said Thursday.'We will act properly when it is appropriate,' a finance ministry official told reporters when asked whether the government will continue its yen-selling intervention.
2010/09/16 11:44*DJ RBA's Lowe: Commodity Prices Will Likely Decline Over The Next Few Years
2010/09/16 11:44*DJ RBA's Lowe: Inflation Risks Would Rise If Consumption, Investment Strong
2010/09/16 11:39DJ Conquest Mining Signs A$1 Bln Offtake Pact With Shandong Guoda Gold
CANBERRA -Australia's Conquest Mining Ltd. (CQT.AU) on Thursday said it has signed a long-term contract for the sale of gold-silver-copper concentrate from its planned V2 deposit mine at its Mt Carlton project in north Queensland to Shandong Guoda Gold Co., one of China's largest gold smelters.The life-of-mine sales contract covers 490,000 wet metric tons of concentrate, revenue from which is projected to total about A$1 billion, Conquest said in a statement.Conquest Chairman Jake Klein said V2 is the largest single deposit at the Mt Carlton project and the offtake agreement is a major breakthrough that underpins the project's economics and development. Discussions with project financiers will commence shortly, while project optimization studies are underway and expected to be completed by December for a development decision.Project scale at Mt Carlton is expected to be in the order of 800,000 metric tons of ore a year throughput from an open pit mine to produce 105,000 ounces of gold equivalent in concentrate, and production a month of 4,500 tons grading 40 grams-45 grams a ton of gold, 350 grams-450 grams a ton of silver and 5%-6% copper.Separately, Conquest also announced it will buy the 40% of Pajingo gold mine from Heemskirk Consolidated Ltd. (HSK.AU) that it doesn't have under offer for A$37 million, comprising A$27 million in cash and A$10 million in Conquest shares. The purchase complements Conquest's current takeover offer for North Queensland Metals Ltd. (NQM.AU), which owns the other 60% of Pajingo.The proposed acquisition is a major breakthrough with Conquest now well positioned to pursue plans to grow into a mid-tier Australian gold company, Klein said.Pajingo produced 54,962 ounces of gold last fiscal year ended June 30, at a total cost of A$955/ounce.Conquest shares rose to 57 Australian cents in early trading Thursday. Around 0143 GMT the shares traded 7 cents higher or 16% at 51.5 cents, giving the company a market capitalization of around A$182 million.
2010/09/16 11:33*DJ Nikkei Stock Average Turns Negative
2010/09/16 11:16DJ BOJ Governor: Unconventional Easing Highly Effective Vs Recent Financial Crisis
TOKYO -Bank of Japan Gov. Masaaki Shirakawa said Thursday that unconventional monetary easing measures were 'highly effective' against the 'acute pains' in the recent financial crisis.'Through the experience of the recent crisis, I fully recognize that liquidity and counterparty risk are the two most important concepts in conducting a study on unconventional monetary policy,' Shirakawa said at the International Journal of Central Banking conference in Tokyo.Under intense pressure from the government as well as from markets to do more to contain the impact of the yen's rise, the BOJ expanded a special lending program at an emergency policy meeting on Aug. 30. The bank decided to offer financial institutions Y10 trillion worth of six-month loans at a rock-bottom 0.1%, in addition to the Y20 trillion in three-month loans it has been offering over the past few months.Shirakawa also said that 'aggressive policy rate reductions' can be effective to mitigate an economic downturn, but added that policymakers need to recognize the side-effects of extremely low rates, such as potential damage to smooth market functioning and delayed adjustment in excesses accumulated during a period of bubble expansion.
2010/09/16 11:15*DJ Japan MOF Official: No Change In Stance To Take Decisive Steps When Needed
2010/09/16 11:06*DJ Japan MOF Official: Will Intervene When Appropriate
2010/09/16 11:04*DJ NZ Was Expected To Hike In December Prior To Thursday's Rate Decision
2010/09/16 10:57*DJ New Zealand Rate Hike To Come In March 2011 - Median Of 10 Economists Polled
2010/09/16 10:51DJ Central Huijin Sold 30-Year Bond At 4.20%
2010/09/16 10:40*DJ Central Huijin Sold 5-Year Bond At 3.14%
2010/09/16 10:40=DJ TAKING STOCK: Stock Bulls Could Get Help From Bond Bears Soon
2010/09/16 10:38*DJ Central Huijin Sold 30-Year Bond At 4.20%
2010/09/16 10:38*DJ Japan Sengoku: Don't Expect New Cabinet Lineup This Week -Kyodo
2010/09/16 10:30DJ CIC Executive: Investment Returns To Stay Low In Mature Fixed-Income Markets
BEIJING -Emerging markets are rising in importance as returns in mature fixed-income markets such as the U.S. and Europe are likely to stay low for five to 10 years, an executive with China's sovereign-wealth fund said Thursday. Ludwig He, China Investment Corp. managing director and head of the public markets investment department, said investor interest may gradually rise in Latin American currencies, and Brazil's inflation-linked bond market helps ease investor fears about market volatility. CIC has a small investment in Brazil's inflation-linked bond market, and also invests in Japanese government bonds as part of its global asset allocation, He said at the Latin America China Investors Forum.
2010/09/16 10:28*DJ Japan Govt Sengoku: Don't Expect Decision On New Cabinet This Wk
2010/09/16 10:19*DJ Japan Govt Sengoku: PM Kan, Obama Talks In Preparation, Date Not Fixed Yet -Kyodo
2010/09/16 10:00=DJ FOREX VIEW: Euro In Timeout Versus Dollar With Yen In Focus
2010/09/16 10:00*DJ RBNZ Bollard: Does Not Envisage Having To Cut OCR In Short, Mid-Term
2010/09/16 09:42*DJ RBNZ Bollard: Inflation Comfortably Within The 1% To 3% Target Range
2010/09/16 09:37=DJ FOREX VIEW: Japanese Intervention Will Likely Have A Sequel
2010/09/16 09:37DJ Japan PM Kan: To Take Decisive FX Steps When Necessary -Kyodo
TOKYO -Japanese Prime Minister Naoto Kan said Thursday that the government will take decisive foreign exchange steps when necessary, suggesting the authorities would not hesitate to intervene again to tackle the yen's rapid rise, Kyodo News reported. Kan was speaking at a meeting of the Japan Chamber of Commerce and Industry in Tokyo.
2010/09/16 09:32*DJ RBNZ Bollard: We Don't Believe It Is A Double Dip Recession Internationally
2010/09/16 09:16*DJ BOJ Shirakawa: Unconventional Easing Was Highly Effective Vs Recent Fincl Crisis
2010/09/16 09:15*DJ BOJ Shirakawa: Expectations For Continued Low Rates Could Cause Bubble
2010/09/16 09:12*DJ BOJ Shirakawa: Protracted Low Rates Play Key Role In Preventing Econ Downturn
2010/09/16 09:10*DJ CIC Exec: Investing In JGB Market As Part Of Global Asset Allocation
2010/09/16 09:10*DJ BOJ Shirakawa: Extremely Low Rates Could Hurt Smooth Market Functioning
2010/09/16 09:09*DJ BOJ Shirakawa: Aggressive Policy Rate Cuts Needed To Mitigate Econ Downturn
2010/09/16 09:04DJ BOJ Skips 0030 GMT Market Op; Suggests Leaves Some FX Intervention Funds In Market
TOKYO -The Bank of Japan skipped its Thursday morning money market operation, refraining--as expected--from draining any funds from the market, in a sign that it's not at this point sterilizing the yen-selling interventions by the government that moved aggressively Wednesday to weaken the Japanese currency.
2010/09/16 09:02*DJ CIC Exec: Have Small Investment In Brazil Inflation-Linked Bond Market
2010/09/16 08:57*DJ CIC Exec: Brazil Inflation-Linked Bonds Ease Foreign Investor Concerns
2010/09/16 08:54*DJ Japan PM Kan: To Take Decisive FX Steps When Necessary -Kyodo
2010/09/16 08:51*DJ Japan PM Kan: To Take Decisive FX Steps When Necessary
2010/09/16 08:50*DJ CIC Exec: Investor Interest In Latin American Currencies May Rise
2010/09/16 08:47*DJ CIC Exec: US, Europe Fixed Income Returns To Stay Low For 5-10 Years
2010/09/16 08:45*DJ CIC Exec: Investment Returns To Stay Low In Mature Fixed-Income Markets
2010/09/16 08:45*DJ BOJ Skips 0030 GMT Market Op; Suggests Leaves Some FX Intervention Funds In Market
2010/09/16 08:40*DJ CIC Exec: Latin America Is Important Market For Asset Allocation
2010/09/16 08:38*DJ CIC Exec: Emerging Markets Are Gaining Importance
2010/09/16 08:05*DJ Lead December JGB Futures Open Down At 141.95 Vs 142.12 Wednesday
2010/09/16 08:02*DJ Nikkei Stock Average Opens Up 1.0% At 9613.89
2010/09/16 07:55*DJ Lead Nikkei Futures Open Up 155 Points At 9605 On SGX
2010/09/16 07:19=DJ IMF Lipsky: Global Economic Recovery May Have Slowed
WASHINGTON -International Monetary Fund First Deputy Managing Director John Lipsky Wednesday said the global economic recovery may have slowed and second-half growth is likely to be slower than the fund had anticipated. 'Second-half global growth is likely to be a bit more sluggish than the [3.75%] annual rate that we had forecast in our latest World Economic Outlook update,' he said in remarks to the Foreign Policy Association in New York. Lipsky said consumption in advanced economies remains weak, with U.S. inventory accumulation easing and consumer spending restrained by weak labor and housing markets. Euro area growth has held up relatively well so far but tight bank lending conditions have meant sluggish overall demand, he said. 'We anticipate the recent slowdown to be temporary, affecting the second half of 2010 and early 2011. Looking to 2011 as a whole, the anticipated transition from a rebound in global trade and inventories toward gradually stronger private demand in advanced economies remains broadly on track, led by the recovery in business investment,' Lipsky said.
2010/09/16 07:19*DJ Geithner: Pace Of Chinese Appreciation 'Too Slow'
2010/09/16 06:53=DJ Goldman Sachs Wealth Team Jumps Ship To Credit Suisse
2010/09/16 06:51=DJ Obama Derides Republicans Over Taxes, Small Business Legislation
2010/09/16 06:35DJ CREDIT MARKETS: Corporate-Bond Issuance Resists Currency Woes
2010/09/16 06:20=DJ WORLD FOREX: Yen Plummets Vs. Rivals After Japan Intervenes
2010/09/16 05:59DJ Reserve Bank Of NZ Keeps Cash Rate Unch At 3.00%
DJ Reserve Bank Of NZ Keeps Cash Rate Unch At 3.00%By Lucy Craymer Of WELLINGTON -The Reserve Bank of New Zealand Thursday held the Official Cash Rate at 3.00% and highlighted ongoing economic uncertainty, particularly after the 7.0-magnitude earthquake in the country's second-largest city of Christchurch earlier this month. Thursday's decision was correctly predicted by all 12 economists surveyed by . In July, the Reserve Bank increased the OCR by 25 basis points to 3.00%, its second consecutive hike after it stayed on the sidelines for more than a year. -
2010/09/16 05:48=DJ US Small-Cap Stocks Close Up At Highest Since Aug. 9-2-
2010/09/16 05:45=DJ US Stocks Rise; DJIA Up Nine Of Past 11 Sessions-2-
2010/09/16 05:28=DJ US Stocks Rise; DJIA Up Nine Of Past 11 Sessions
2010/09/16 05:11=DJ US Small-Cap Stocks Close Up At Highest Since Aug. 9
2010/09/16 05:11*DJ Reserve Bank Of NZ Keeps Cash Rate Unch At 3.00%
2010/09/16 05:05*DJ New Zealand Dollar Falls Below US$0.7300 On RBNZ Statement; Now US$0.7288
2010/09/16 05:04*DJ New Zealand Dollar Falls Below US$0.7300 On RBNZ Statement; Now US$0.7288
2010/09/16 05:00*DJ Reserve Bank of NZ Keeps Cash Rate Unch At 3.00%
2010/09/16 04:48*DJ Obama Says US Doesn't Have Time To 'Play Games' On Tax Issue
2010/09/16 04:40DJ Short-Dated Treasurys Up, Long End Falls On Japan Intervention
2010/09/16 04:29DJ Financial Stability Oversight Council To Hold First Meeting Oct 1 - Sources
2010/09/16 04:26=DJ OIL FUTURES: Crude Settles 78 Cents Lower At $76.02/Barrel
2010/09/16 04:08*DJ IMF Lipsky: 2H Global Growth Rate Likely Less Than 3.75%
2010/09/16 04:07*DJ IMF Lipsky: Global Economic Recovery May Have Slowed
2010/09/16 04:05*DJ Nasdaq Closes Up 12 (0.5%) At 2301; Health Care Leads Climb
2010/09/16 04:04*DJ DJIA Closes Up 46 (0.4%) At 10573; Travelers, Kraft, AmEx Rise
2010/09/16 03:13DJ PRECIOUS METALS: Gold Falls From Record As Traders Take Profits
2010/09/16 02:36*DJ OIL FUTURES: Crude Settles 78 Cents Lower At $76.02/Bbl
2010/09/16 02:33*DJ OIL FUTURES: Crude Closes Down 90 Cents At $75.90/Bbl
2010/09/16 00:59=DJ BOE King Appeals For Union Understanding On Budget Austerity
2010/09/16 00:58=DJ Obama To Make Statement On Economy, Taxes Wednesday
2010/09/16 00:50DJ Yahoo's Bartz Says No Plans To Sell Alibaba Stake -Reuters
Yahoo Inc. Chief Executive Carol Bartz Wednesday said the company has no plans to sell its shares in Alibaba Group, countering market speculation that Yahoo could be close to selling its 39% stake in the Chinese e-commerce firm, Reuters reported on its website. Bartz, in an interview, described the company's stake in Alibaba as 'strategic,' and said it would not be in the company's interest to sell. Alibaba 'constantly' approaches Yahoo about buying back the stake, Bartz said. Full story at: www.reuters.com/article/idUSTRE68E42R20100915
2010/09/16 00:18*DJ Obama To Make Statement On Economy, Taxes Wednesday
2010/09/16 00:12DJ Japan MOF Intervened In NY Forex Market - Sources
