Connect to share and comment

Asian stock markets up slightly on investor belief that Fed will maintain stimulus program

BANGKOK - Asian stock markets were volatile Tuesday after a report showed manufacturing activity in the U.S. fell to its lowest level in four years. Losses were limited, however, because investors believe negative reports make it more likely for the Federal Reserve to stick with its economic stimulus programs. Japan's Nikkei 225 index clawed back some of its prior session losses. Benchmarks elsewhere were mostly lower. Analysts warned that a cautious approach was best.

Yen carry trade unlikely in short term: regulator

By Kim Seung-yeon SEOUL, June 4 (Yonhap) -- South Korea will not likely see huge inflows of yen-funded carry trade in the short term, as a bullish Japanese stock market and uncertainties on yen weakness are expected to dent such investors' demand, the financial regulator said Tuesday. The amount of net stock purchase by foreign investors in the Tokyo market reached 6.1 trillion yen (US$6.07 billion) in the January-April period of this year, compared with 2.3 trillion yen tallied for the previous four months, according to the Financial Supervisory Service (FSS).

Japan's FY 2012 tax revenues may top gov't estimate: MOF

Japan's tax revenues for fiscal 2012 stood at 37.84 trillion yen as of the end of April, up 2.5 percent from a year earlier, the Finance Ministry said Monday, suggesting the final figure may end up topping its earlier estimate of 42.61 trillion yen. Improved earnings among exporters could increase corporate tax payments and lift the country's overall tax revenues above the projected amount after the value of the yen was pushed down by the government's economic policies, centering on drastic monetary easing.

Digital currency firms rush to adopt anti-money laundering rules

By Emily Flitter and Brett Wolf NEW YORK/ST. LOUIS (Reuters) - These are unsettling times for digital currency businesses and the venture capitalists backing them. On Tuesday, authorities in Spain, Costa Rica and New York arrested five people at the digital currency firm Liberty Reserve, including its founder Arthur Budovsky, and seized related bank accounts and Internet domains.

Business Highlights

___ Cover songs: Homage or irksome marketing ploy? LOS ANGELES (AP) — There are about 600 versions of Adele's Oscar-winning song "Skyfall" on the Spotify subscription music service. Not one of them features Adele. Adele's label, XL Recordings, keeps her music off of all-you-can-listen subscription plans until download sales peter out. In the meantime, copycat artists fill the void, racking up royalty revenue, often before customers realize they've been listening to someone else.

Dollar falls on weaker economic data

The dollar fell against other major currencies Thursday after a batch of slightly weaker US economic data put a damper on demand for the greenback. The euro bought $1.3043 around 2100 GMT, up from $1.2938 at the same time Wednesday. The dollar dropped against the Japanese currency, to 100.74 yen from 101.06 the prior day, while the euro rose to 131.39 yen from 130.75. The dollar was under pressure after US data was "mildly soft in tone," said Nick Bennenbroek, head of currency strategy at Wells Fargo Securities.

Volcker warns on limits of Fed's easy money

By Jonathan Spicer NEW YORK (Reuters) - Former Federal Reserve Chairman Paul Volcker on Wednesday waded into the debate over when to reduce today's ultra-easy U.S. monetary policies, arguing that the benefits of bond-buying are "limited and diminishing" and warning that central banks are too often late in removing stimulus.

BOJ likely to unroll further easing policy in Q4: JP Morgan

SEOUL, May 30 (Yonhap) -- The Bank of Japan (BOJ) will likely continue its monetary easing in the fourth quarter to boost its economy, an investment bank forecast Thursday, as the country won't meet its inflation target in hopes of fueling growth. Massaki Kanno, a chief Japan economist at JP Morgan Securities Japan Co., said there is a low chance that Tokyo will achieve its 2 percent inflation target range within the next two years, like Prime Minister Shinzo Abe has promised.

Dollar slips in Asian trade after US rally

The dollar lost ground in early Asian trade on Wednesday after flying on fresh data that showed US consumer confidence and home prices were on the rise. The figures are the latest evidence that the world's biggest economy could be mounting a recovery, paving the way for the US Federal Reserve to roll back its huge bond-buying programme known as quantitative easing.

Yen gains in Asian trade

The yen notched up more gains in Asia on Monday morning as investors lock in profits from betting on the dollar's recent surge, but the Japanese unit's decline was still on track, dealers said. In Tokyo trade, the greenback fetched 101.01 yen, down from 101.14 yen in New York Friday and 102.33 yen in Tokyo on Friday morning. Dollar weakness "would last only for a short time as appetite to buy the pair on dips remains strong," said a senior dealer at a major bank in Tokyo.
Syndicate content