2010/09/27 17:47DJ Japan Vice Finance Minister Suggests BOJ Could Buy More Government Bonds
TOKYO -A Japanese vice finance minister indicated Monday that he would like to see the Bank of Japan ease monetary policy further, possibly by buying more government bonds. In recent years the BOJ 'has made significant efforts, but there are various steps , such as buying more long-term government bonds,' said Mitsuru Sakurai, recently appointed senior vice finance minister, at a news conference. But Sakurai said the government should let the BOJ decide on monetary policy, suggesting he won't openly pressure the central bank to do more to shore up the country's flagging economic recovery.
2010/09/27 17:18DJ Banks Increase Use Of ECB Standing Facilities
FRANKFURT -Banks increased the use of the European Central Bank's deposit and lending facilities as of Sunday, ECB data showed Monday. Banks parked EUR84.118 billion at the ECB's 0.25% deposit facility, versus EUR74.466 billion previously, the data showed. They borrowed EUR1.20 billion via the ECB's 1.75% marginal lending facility, twice as much as the EUR551 million previously, according to the ECB data. ECB website: www.ecb.int
2010/09/27 17:18DJ BOJ Gov: To Assess Forex, Global Economy At Next Policy Meeting
OSAKA -Bank of Japan Gov. Masaaki Shirakawa said Monday that the central bank will look into the impact of the yen's rise on the nation's economy at a policy board meeting next week, reiterating that the bank will take appropriate steps if necessary. 'The appreciation of the yen has an adverse effect on the economy through business sentiment. At the same time, it is important to assess how the global economy--which is the cause of the yen's rise--will develop down the road,' Shirakawa told reporters after meeting business leaders in Osaka, western Japan. Shirakawa said that he would be examining these issues at the BOJ's two-day policy board meeting starting Oct. 4. Earlier in the day, Shirakawa said in a speech to business leaders that the central bank will take 'appropriate policy steps' if the yen's climb puts downward pressure on Japan's export-reliant economy, emphasizing that the BOJ will watch developments in the foreign exchange markets with 'great interest.'
2010/09/27 17:10DJ Irish Yield Spreads Widen, Other Euro Zone Periphery Steady
Irish 10-year yield spreads over German bunds are sharply wider Monday morning, hitting a fresh high on ongoing stress over Ireland's economy and the solvency of Irish banks, while those of the euro zone's other peripheral, or weaker sovereigns, are steady or a touch tighter. At 0800 GMT, Irish yield spreads had widened to 4.53 percentage points, the highest since the introduction of the euro, from levels around 4.25 percentage points at Friday's close. 'We suspect [the] core euro zone to be more reactive to the renewed vigor [that] the euro-debt crisis now has, in the form of stress on Irish and Portuguese debt, and with no scheduled event due to quell the concerns...we would remain wary of more widening of Portuguese and Irish spreads,' said Credit Agricole CIB economists. Unless the European Central Bank and national central banks step in 'in a sizeable way' as buyers of Portuguese government bonds, OTs, and Irish bonds, Credit Agricole CIB expects these illiquid markets to slide further, 'exacerbating the fear trade, boosting bunds.' Portuguese spreads, which have also been hit hard on Portugal lagging behind in fiscal improvement, are trading a touch narrower at 4.09 percentage points compared with Friday's close at 4.12 percentage points. Elsewhere in the 'peripheral' euro zone, 10-year Italian/German spreads are steady at 1.58 percentage points, Greek spreads are unchanged at 8.88 percentage points and Spanish spreads over bunds are also unchanged at 1.84 percentage points.
2010/09/27 17:09*DJ BOJ Expects Curr Acct Balance To Fall Y210B Tue Vs Y18.37T Mon
2010/09/27 17:03DJ BOJ Shirakawa: To Take Appropriate Steps If Yen Rise Weighs On Economy
OSAKA -Bank of Japan Gov. Masaaki Shirakawa pledged Monday to take 'appropriate policy steps' if the yen's rise puts downward pressure on the country's economy, emphasizing that the BOJ will watch developments in the foreign exchange markets with 'great interest.' 'While carefully monitoring how the yen's rise will affect the economy, we have repeatedly said that the BOJ will take policy steps in a timely and appropriate manner if (the yen's rise) becomes a downside risk to the economy,' Shirakawa told business leaders in Osaka, western Japan. Shirakawa also said the yen's climb can 'significantly affect business sentiment and consequently, the outlook for Japan's economy.' He added that the BOJ 'has great interest in and will pay attention to developments in the foreign exchange markets and their impact.'
2010/09/27 17:02DJ Gold To Surpass $1,400/Oz By September 2011 -Industry Experts
BERLIN -Gold is likely to continue to edge higher over the coming year, reaching more than $1,400 a troy ounce by September 2011, industry experts at the London Bullion Market Association said Monday. In a poll at the annual conference, in which delegates were asked what they thought the gold price would be in September 2011, attendees forecast an average price of $1,406/oz. The yellow metal has rallied over the past fortnight, climbing as high as $1,300/oz due to sustained weakness in the U.S. dollar. 'There appears to be little in the way of factors that could negatively impact the gold market in the coming months,' said BNP Paribas analyst Anne-Laure Tremblay in a report last week.
2010/09/27 16:53=DJ DATA SNAP: Loans To Euro-Zone Businesses Rose In Aug
2010/09/27 16:20*DJ BOJ Gov: Watching Forex Market With Great Interest
2010/09/27 16:19*DJ BOJ Gov: To Assess Forex, Global Econ At Next Policy Meeting
2010/09/27 16:12DJ European Central Bank Annual Gold Sales Fall To Just 6.2 Tons -WGC
BERLIN -European central banks have "lost their appetite" for gold sales, with signatories to the third central bank gold agreement having sold just 6.2 metric tons of gold in the past year, according to data from the World Gold Council.WGC government affairs director Natalie Dempster said the figure, which rises to 88 tons if sales from the International Monetary Fund are included, compares with 157 tons in the final year of the second central bank gold agreement, or CBGA.The first year of the third five-year agreement, which the IMF did not sign, ended Sunday."European central banks have lost their appetite for gold sales," she said. "There has been much more activity on the buying side over the past year."The CBGA was set up in 1999 after concerns that central bank sales were destabilizing the market and pushing down prices.The 19 signatories to the agreement are limited to combined annual sales of 400 tons.
2010/09/27 16:02*DJ ECB: Euro-Zone Aug M3 +1.1% On Year; Forecast +0.4%
2010/09/27 16:01*DJ ECB: Aug Pvt Sector Loans +1.2% Vs +0.8% In Jul
2010/09/27 16:01*DJ ECB: Euro-Zone Aug M3 +1.1% On Year; Forecast +0.4%
2010/09/27 16:01*DJ Euro-Zone Jun-Aug 3-Mo Avg M3 +0.5%; Forecast +0.2%
2010/09/27 16:01DJ Kan Orders Formation Of Extra Budget To Boost Japan Economy - Kyodo
TOKYO -Japanese Prime Minister Naoto Kan instructed his Cabinet members on Monday to draw up an extra budget for fiscal 2010 to finance Japan's additional stimulus package, Kyodo News reported Monday, citing government officials.
2010/09/27 15:45*DJ Gold To Surpass $1,400/Oz By September 2011 -Industry Experts
2010/09/27 15:40=DJ Dagong Says SEC Denial Discriminatory, Considers Legal Action
SHANGHAI -Chinese rating agency Dagong Global Credit Rating Co. called the Securities and Exchange Commission's recent denial of its application as an officially recognized bond rater in the U.S. discriminatory and said it considers taking legal action against the agency. The angry statement posted on the company's website Sunday gives glimpse at China's eagerness to exert influence on the global markets and its frustration over the dominance of institutions from the developed countries. Dagong doesn't disclose its shareholding structure on its website, but the company has had strong endorsement from the Chinese government. The company is also the only wholly Chinese-owned domestic rating agency of the country's three largest credit rating companies. China Chengxin International Rating Co. is 49% held by Moody's Investors Service. China Lianhe Credit Rating Co. is 49% held by Fitch Ratings Inc. Dagong said SEC's sole reason for denying its application is the commission can not conduct cross-border supervision over the Chinese firm, a touchy issue involving national sovereignty. 'Dagong can not accept giving up national sovereignty as a condition for a credit rating company's qualification,' the firm said. The SEC on Wednesday denied Dagong's registration to become a 'nationally recognized statistical rating organization,' or NRSRO, a designation that allows a firm's ratings to be used as benchmarks in U.S. laws and regulations. The firm's application was denied because 'it does not appear possible at this time for Dagong to comply with the record keeping, production, and examination requirements of the federal securities laws,' the SEC wrote in its order. In direct terms, Dagong said it aims to enter the U.S. market to protect China's interest as the largest creditor there. As of July, China held $846.7 billion worth of U.S. Treasurys. 'As a Chinese credit rating agency, Dagong has the right to protect the creditor country's interest in the U.S. through rating operations,' Dagong said. The firm also said the SEC decision is a 'purposeful' move to deny the company's rights to be heard in the international ratings market and a move to 'protect the monopoly of the three largest rating agencies,' Standard & Poor's, Moody's and Fitch Ratings. The company surprised the credit-rating world in July when it published sovereign ratings for China that were higher than those for the U.S., the U.K., Japan and most other major economies. The results differed from those issued by major credit-rating firms.
2010/09/27 15:40DJ JGB Futures Fall Slightly; Eyes On BOJ Tankan, Two-Year Tender
TOKYO -Japanese government bond futures ended slightly lower Monday as gains in Tokyo share prices caused some players to move out of safe-haven assets, but investor sentiment was still broadly cautious ahead of the release of key Bank of Japan business sentiment data later this week. 'There will likely be more direction once investors see the business sentiment survey and any hints on monetary policy for the second half of the fiscal year in the tankan' due Wednesday, said Makoto Yamashita, a strategist at Deutsche Securities. The Bank of Japan's quarterly tankan survey's headline diffusion index, which measures mood among big manufacturers, is expected to rise to 6 in September from 1 in the previous quarter, according to the median forecast of 11 Tokyo-based economists surveyed by . The index is calculated by subtracting the percentage of firms saying business conditions are good from those saying they are bad. JGB market participants will also keep a close eye on the survey's data on corporate capital expenditure and profit outlooks for any hints on the possibility of further monetary easing by the BOJ, analysts said. The September tankan is expected to show that big companies plan to boost capital spending by 4.0% in the fiscal year that began in April, slightly lower than the 4.4% rise projected in the June survey, the economists said. But even if the tankan comes in ahead of forecasts, JGBs are expected to stay supported in the near term by deep-rooted expectations for additional monetary easing in both Japan and the U.S. Lead December JGB futures ended the day 0.05 lower at 142.83 after rising to as high as 142.94 in the morning. The benchmark 10-year cash JGB yield was flat at 0.995%. Deutsche's Yamashita tips the 10-year yield in 0.94%-1.04% range for the rest of the week. Meanwhile, the market is focused on the Ministry of Finance's sale of Y2.6 trillion worth of two-year government bonds Tuesday. Analysts expect new two-year bonds to receive solid demand as a safe place to park surplus cash. Meanwhile, the Federal Reserve's recent decision to resume government bond buying may heighten speculation that Japan's central bank will also increase JGB outright purchases at the bank's second policy meeting in October, said Katsutoshi Inadome, a strategist at Mitsubishi UFJ Morgan Stanley Securities. If so, that would likely give a 'tail wind' to the two-year zone because the BOJ is expected to buy more medium-term notes to speed up the pace of bond maturities it holds, Inadome said.
2010/09/27 15:38DJ Tokyo Shares Rise As Exporters Rebound; Retail Lenders Plunge
2010/09/27 15:10DJ Tokyo Shares Rise As Exporters Rebound; Retail Lenders Plunge
2010/09/27 15:10=DJ Japan Econ Min: Govt Should Consider Additional Bonds For Extra Budget
2010/09/27 15:01DJ Forex Options: Dollar/Yen Options Rise After Quiet Week
TOKYO -Dollar/yen options rose slightly in Tokyo Monday as players returned to the market following a relatively quiet week marked by two national holidays. Benchmark one-month at-the-money dollar/yen volatilities rose to 10.70%/11.40% in Tokyo Monday from 10.50%/11.20% from New York Friday. An options dealer at a major Japanese bank said benchmark volatilities are unlikely to change much for the rest of the global day as long as the underlying exchange rate stays around current levels. The dealer said the greenback will likely trade against the yen in a narrow range. The downside will likely be limited by investor caution about possible intervention by the Japanese authorities, while the upside will be capped by sales by Japanese exporters ahead of the end of the July-September quarter. The dealer said one player bought six-month dollar-call/yen-put option contracts at a strike price of Y89.95 with implied volatilities of 11.65% for an unknown amount. Such contracts benefit the holder if the underlying exchange rate stays above the strike price at the contract's expiry.
2010/09/27 15:01*DJ BOJ Gov: FX, Stock Markets Remain Unstable
2010/09/27 15:01*DJ BOJ Gov: To Watch Downside Risks To Japan Econ, Prices
2010/09/27 15:00*DJ BOJ Gov: FX Is One Of Major Factors Affecting Econ Trend
2010/09/27 14:59*DJ BOJ Gov Shirakawa: To Take Appropriate Policy Steps If Yen Rise Weighs On Econ
2010/09/27 14:59*DJ BOJ Gov: To Mull Effects, Side Effects Of Various Policy Measures
2010/09/27 14:58=DJ WORLD FOREX: Euro Falls Vs Dollar, Yen As Hedge Funds Take Profits
2010/09/27 14:46=DJ WORLD FOREX: Euro Falls Vs Dollar, Yen As Hedge Funds Take Profits
2010/09/27 14:35=DJ PRECIOUS METALS: Gold Steady; Silver In Blue Sky Territory
2010/09/27 14:28*DJ Japan Econ Min: Govt, BOJ Share Economic View, Policy Goal
2010/09/27 14:25=DJ WORLD FOREX: Euro Falls Vs Dollar, Yen As Hedge Funds Take Profits
2010/09/27 14:25*DJ Japan Econ Min: Japan Economy In Lull
2010/09/27 14:25*DJ Japan Econ Min: Want To Study Easy Monetary Policy Impact On FX
2010/09/27 14:25*DJ Japan Econ Min: Need Quick Actions To Prevent Recession
2010/09/27 14:23*DJ Japan Econ Min Kaieda: Should Not Rule Out Issuing JGBs When Making Extra Budget
2010/09/27 14:20*DJ BOK May Have Bought Total Of Around $500M-$700M Monday -Traders
2010/09/27 14:10*DJ Kan Orders Formation Of Extra Budget To Boost Japan Economy - Kyodo
2010/09/27 14:09*DJ Dollar Down At KRW1,148.2 Late Monday Vs KRW1,155.2 Friday
2010/09/27 14:06*DJ BOK Suspected Of Intervening Again Late Mon To Curb Won's Rise-Traders
2010/09/27 13:15*DJ Spot Silver Hits New 30-Year High Of $21.52/Oz
2010/09/27 13:07*DJ BOK May Have Bought Dollars At Around KRW1148 To KRW1150-Traders
2010/09/27 13:04*DJ BOK Suspected Of Intervening In FX Market To Cap Won's Gains-Traders
2010/09/27 12:29DJ Malaysia 2nd Finance Minister: 2010 GDP Growth Likely 6.0% To 7.0%
KUALA LUMPUR -Malaysia's economy is likely to grow between 6.0% and 7.0% this year, Second Finance Minister Ahmad Husni Hanadzlah said Monday. Economic expansion in the 'second half this year will be lower but for the whole year, we are expecting 6% to 7% growth,' Ahmad Husni told participants at the World Capital Market Symposium in Kuala Lumpur. He said growth in the first half of 2011 will be slower compared with the same period a year earlier. Ahmad Husni also said Malaysia cannot compete with neighboring countries on labor costs anymore and that the government is taking steps to address this to attract foreign direct investments. He didn't elaborate. Malaysia's current official economic forecast is for the economy to grow between 4.5% and 5.5% but Prime Minister Najib Razak has recently repeatedly said the trade-driven economy will grow more than 6.0% this year. Malaysia is expected to revise its official economic forecast on Oct. 15, when the premier unveils the country's 2011 budget.
2010/09/27 11:55*DJ Malaysia 2nd Finance Minister: 2010 GDP Growth Likely Up 6.0% To 7.0%
2010/09/27 11:53*DJ Malaysia 2nd Finance Minister: 2011 1H Economic Growth Likely To Slow
2010/09/27 11:29DJ JPM In Talks To Buy RBS Sempra N America Gas, Power Trading Book-FT
J.P. Morgan Chase & Co. may buy the North American gas and power trading book of RBS Sempra, The Financial Times reports on its website Sunday, citing 'people familiar with the matter.' According to the report, another buyer would take the business's personnel and systems. The report quoted an RBS Sempra spokesman who said 'A number of parties have expressed interest in acquiring the remaining assets of our RBS Sempra Commodities joint venture,' but the FT said 'people familiar with the deal' said Morgan was the frontrunner. In July, Sempra and RBS sold the joint venture's global metals and oil businesses, as well as European natural gas and power businesses, to Morgan for about $1.6 billion. Full story at http://www.ft.com/cms/s/0/70a0d2e8-c9a6-11df-b3d60144feab49a.html
2010/09/27 10:47DJ CBI: UK Financial Services Sector Growth Accelerating
LONDON -Activity in the U.K.'s large financial services sector grew at the fastest rate since June 2007 in the third quarter, but firms are less optimistic about the months ahead than they were in June, the Confederation of British Industry said Monday. The business group's latest quarterly survey of the sector carried out with PricewaterhouseCoopers showed that although the growth in business volumes was weaker than expected, profitability in the sector improved for a fifth consecutive quarter. Asked how business activity had fared in the three months to September, 37% of the respondents said volumes rose and 9% said they fell--resulting in a balance of +28 percentage points, the highest reading since June 2007 and above +9 in June. The percentage that reported steady volumes rose to 54% in September from 33% in June. 'Activity picked up in the financial services sector in the last three months at a pace not seen since before the credit crunch,' Ian McCafferty, CBI chief economic adviser, said in a note. But looking ahead, the balance measuring expectations for business volumes over the next three months eased to +24 in September from +63 in June. 'There is ongoing concern that prospective regulation may hold back business expansion in the coming year, but financial services firms have become more worried that weak levels of demand will dampen growth prospects,' McCafferty said. There were 90 respondents to the survey carried out between Aug. 18 and Sept. 1. The balance is the difference between the percentage of firms reporting an increase and those reporting a decrease. Business volumes rose across all sub-sectors of financial services except for general insurance which saw a modest fall, the CBI said. Business grew across most customer groups, with the strongest growth seen in business with overseas customers. Falling costs, faster growth in business volumes, and widening spreads helped drive the profitability balance up to +23 in September, the strongest reading since June 2006. Firms expect a similar level of profitability in the fourth quarter. Although the balance measuring numbers employed in the sector was positive for the first time since December 2007 in September, it is expected to sink back into negative territory in the months ahead, the CBI said. Andrew Gray, U.K. banking leader at PricewaterhouseCoopers, said while banks were broadly in good shape, business was still being constrained by the economic environment. The impact of the recent Basel III proposals to strengthen banks' resilience to financial shocks would be seen over the next quarter, he said. 'While the capital requirement proposals are less stringent than some expected, they do place significant financial demands on the banks--which will have consequences for pricing, business models and strategy,' Gray said. CBI website: www.cbi.org.uk
2010/09/27 10:38*DJ Japan Sengoku: Too Soon To Consider Size Of Supplementary Budget -Kyodo
2010/09/27 10:33*DJ Dollar Was At MYR3.0920 Late Friday
2010/09/27 10:32*DJ Malaysia Ringgit Up; Dollar Falls To Fresh 13-Year Low Of MYR3.0890
2010/09/27 10:30DJ Japan PM Kan To Instruct Compiling Supplementary Budget At Mtg - Kyodo
TOKYO -Japanese Prime Minister Naoto Kan will order the compilation of a supplementary budget at a top level meeting between government and ruling Democratic Party of Japan heads at 0500 GMT Monday, Kyodo News reported.Separately, the Nikkei reported the size of the supplementary budget is expected to total Y4 trillion-Y5 trillion.
2010/09/27 10:21DJ EU Says To Drop Antitrust Probe Into Apple
BRUSSELS -- EU competition regulators said Saturday they will drop an antirust probe into Apple after the company eased restrictions on programming tools and cross-border warranties for the iPhone.The European Commission said it would close its investigation after Apple recently changed its policies making it easier for users of the hugely popular iPhone to get repairs under warranty in an EU country other than where it was bought.The European Union's antitrust watchdog said Apple had also lifted restrictions limiting independent developers' flexibility to develop applications for the iPhone, which regulators had feared would hurt competition.'Apple's response to our preliminary investigations shows that the Commission can use the competition rules to achieve swift results on the market with clear benefits for consumers,' said EU Competition Commissioner Joaquin Almunia in a statement.
2010/09/27 10:13=DJ UPDATE:BOJ Gov:Bank Will Help Economy But Rules Out Radical Steps
KOBE, Japan -Bank of Japan Gov. Masaaki Shirakawa said on Sunday that the central bank is ready to take further measures to help keep the Japanese economy on track, but he repeated his opposition to drastic policy steps such as targeting a specific inflation rate, despite growing political pressure for the bank to do more."We will take policy actions in an appropriate and timely manner if necessary, while carefully watching economic and price conditions," Shirakawa said at a speech to a symposium hosted by the Japan Society of Monetary Economics in Kobe, western Japan.His remarks come before the Friday start of a special session of Japan's parliament, the Diet, at which politicians from both the ruling and opposition parties are expected to put pressure on the BOJ to adopt so-called "unconventional measures," including adopting a target range for inflation or undertake a large-scale program to buy up government debt. Political leaders have grown increasingly worried that a global slowdown and a sharp 10% rise in the value of the yen this year will again send Japan's economy into a decline, even as rival China continues to post strong growth. According to the latest GDP figures, Japan's GDP grew at an annualized 1.5% in the three months ending June 30. The authorities surprised the markets on Sept. 15 by launching a yen-selling campaign in the currency foreign exchange market that has helped to slightly weaken the yen. In addition, the government is set to enact a supplementary budget to help stimulate the economy. They now want the BOJ to do its part. The central bank has already taken some steps, including the recent expansion of a loan program to private companies at interest rates of just 0.1%. It also took the unusual step of leaving the extra money created through the Y1.8 trillion in foreign exchange intervention in the banking system, which serves to strengthen the monetary easing of the intervention. But Shirakawa's remarks--in line with previous comments--appear designed to close the door on anything more radical. He said the current BOJ policy framework is appropriate and said that while inflation targeting had functioned well to bring down inflation in the past, "it could have no merit" in dealing with economic issues unrelated to prices, such as in trying to stimulate growth. He also implicitly rejected the charge that the central bank has dragged its feet and done the minimum possible to avoid political pressure. "I'm confident that the BOJ's current framework for monetary policy is more progressive" than in other countries, he said. His remarks also come before a scheduled two-day BOJ policy board meeting Oct. 4-5, at which any new measures would likely be announced. "We are carefully watching the impact of the yen's appreciation on the economy, and we are paying attention to economic downside risks," Shirakawa said, suggesting the BOJ will act soon if the value of the Japanese currency surges higher. But he did not provide any hints on what policy options the central bank would consider appropriate. With the short-term money markets awash in cash and short-term rates held at extremely low levels ever since 1995, economists have argued that there are few conventional tools left. One controversial proposal has been for the central bank to effectively monetize Japan's massive government debt, by far the largest among developed countries at nearly 200% of annual GDP. The BOJ already purchases Y1.8 trillion of Japanese Government Bonds, or JGB, each month, but Shirakawa on Sunday dismissed the idea of a massive increase in this program. "Long-term yields could rise if is regarded as a sign that the BOJ is trying to finance fiscal spending," he said. BOJ officials have long opposed the idea of increasing the size of the JGB buying operations because of worries that it could fan market concerns that the BOJ was handing the government a blank check to spend wastefully and could undermine the credibility of JGBs in the long term. Shirakawa also took note in the increasingly discussed idea of forcing the central bank into action through a change to the 1997 BOJ law that effectively gave the bank independence from the powerful Ministry of Finance.***********The BOJ Law "enables us to pursue sustainable price stability in the mid- to long-term" as it also allows the central bank to contribute to economic developments, Shirakawa said.A revision of the BOJ Law has been spearheaded by the small, but rapidly growing Your Party, one of the biggest winners in the July upper house elections and has recently gained more adherents, including some influential lawmakers in the ruling party.
2010/09/27 09:50*DJ Ex-MOF Shinohara: Japan Intervention Aimed At Curbing Excess Volatility
2010/09/27 09:38*DJ Dollar Now At IDR8,950 Vs IDR8,955 Late Friday
2010/09/27 09:36*DJ Japan PM Kan To Instruct Compiling Supplementary Budget At Mtg - Kyodo
2010/09/27 09:32*DJ Japan Govt, DPJ To Hold Top Level Meeting 0500 GMT - Kyodo
2010/09/27 08:38DJ Japan August Exports +15.8% On Year; Expected +17.9% On Year
TOKYO -Japanese exports rose in August, due in part to strong demand for autos and steel, marking the ninth straight month of growth. Exports climbed 15.8% from a year earlier to Y5.224 trillion, the Ministry of Finance said Monday. But the result fell short of the median forecast for a 17.9% rise in a poll of economists by . The reading is likely to add to concerns that growth in overseas shipments may continue to slow ahead, complicating the outlook for Japan's export-driven economy. Exports rose 23.5% in July to Y5.983 trillion. Japan's trade surplus fell 37.5% to Y103.2 billion. The result fell short of expectations for a Y200.0 billion surplus in a poll of economists by Nikkei and . Exports to China were up 18.5%, while shipments to all Asian countries rose 18.6%, the ministry said. Exports to the European Union rose 13.7%. Imports rose 17.9% to Y5.121 trillion. In July imports were up 15.7% from a year earlier to Y5.181 trillion.
2010/09/27 08:10*DJ Rio Tinto Shares Up 1.6% Early
2010/09/27 08:03*DJ Nikkei Stock Average Opens Up 0.9% At 9557.37
2010/09/27 08:01*DJ Lead December JGB Futures Open Down At 142.87 Vs 142.88 Fri
2010/09/27 07:30DJ BOJ Eyes Additional Easing Steps At Oct Meeting - Report
TOKYO -The Bank of Japan is moving in the direction of introducing additional monetary easing steps at one of its upcoming policy board meetings in October, the Mainichi Shimbun reported over the weekend. The paper said that the move would be aimed at helping alleviate the burden that the yen's strength is having on the Japanese economy. The central bank's policy board will be holding a two-day meeting on Oct. 5 and a one-day meeting on Oct. 28.
