Platinum Futures Fall in Tokyo on Rising Yen, Concern That Demand May Slow

(Bloomberg) -- Platinum futures fell in Tokyo as a
rising Japanese currency reduced the appeal of buying yen-
denominated contracts for the dollar-priced metal, and as
a slump in world stocks raised concern that demand may drop.

The yen rose to 117.19 to the dollar, the highest since
March 29, on signs losses related to U.S. subprime mortgages are
starting to slow growth of the world's largest economy. Asian
stocks fell after the Standard & Poor's 500 Index had its biggest
three-week decline since 2003.


Read more at Bloomberg Commodities News

Japan's Stocks Drop on U.S. Economy Concern, Stronger Yen; Sony Leads Fall

(Bloomberg) -- Japanese stocks declined, led by Canon
Inc. and Sony Corp., on concern losses in the U.S. mortgage
market may slow the world's biggest economy.

Exporters also fell after the yen strengthened to a four-
month high against the dollar, eroding the value of their dollar-
denominated sales.


Read more at Bloomberg Stocks News

Takefuji, Toyota, Capcom, Cosmo Oil, Chugai, Usen: Japan Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets on Aug. 6. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

Capcom Co. (9697 JT): The publisher of the ``Resident Evil''
video game series said first-quarter net income rose 40 percent
to 1.13 billion yen ($9.5 million) on sales of software. The
company boosted its first-half profit forecast 80 percent to 1.35
billion yen. The stock lost 100 yen, or 4.2 percent, to 2,290.


Read more at Bloomberg Stocks News

JGBs edge up on Treasuries, futures hit 2-mth high

(Reuters) - "Markets had calmed a bit after the recent sell-off in U.S.
stocks and the credit market due to subprime worries, but those
concerns have resurfaced after yesterday's news," said Takafumi
Yamawaki, fixed income strategist at Morgan Stanley in Tokyo.




But he added that investors were hesitant to push prices much
higher given the possibility the Bank of Japan may raise rates by
25 basis points to 0.75 percent later in the month or in
September.


Read more at Reuters.com Bonds News

Asian Stocks Fall in U.S. Trading; Mitsubishi UFJ, Mizuho Pace Declines

(Bloomberg) -- Asian stocks trading in the U.S. fell
after Mitsubishi UFJ Financial Group Inc. and Mizuho Financial
Group Inc., Japan's top lenders, reported a drop in earnings.

The Bank of New York Co.'s Asia ADR Index, tracking the
region's American depositary receipts, slipped 1 percent to
166.26, finishing the month down 0.7 percent.


Read more at Bloomberg Stocks News

Japan's MUFG, Mizuho banks post Q1 falls, keep f'casts

(Reuters) - By David Dolan



TOKYO, July 31 - Japan's two largest banks, Mitsubishi UFJ and Mizuho Financial , posted sharp falls in first-quarter profit on Tuesday, as the nation's lenders struggle to benefit from economic recovery.


Read more at Reuters.com Market News

Bridgestone, Clarion, Isuzu, Komatsu, Shinsei Bank: Japan Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

Bridgestone Corp. (5108 JT): The world's largest tiremaker
raised its annual unconsolidated profit forecast for the second
time because of a weaker yen. Net income may total 77 billion yen
($648 million) for the 12 months ending Dec. 31, compared with a
previous estimate of 73 billion yen, Bridgestone said in a
release. It also raised its unconsolidated sales forecast for
this year by 1 percent to 1.03 trillion yen and its operating
profit forecast by 10 percent to 108 billion yen. The stock fell
25 yen, or 1 percent, to 2,490.


Read more at Bloomberg Stocks News

ASM Pacific, HSBC, Kookmin, Telekomunikasi: Asia Ex-Japan Stock Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. This preview includes news
that broke after markets closed. Prices are from the local
market's last close. Stock symbols are in parentheses after
company names.

Banking stocks: China ordered banks to set aside larger
reserves for the sixth time this year to curb lending and
investment after the economy grew at the fastest pace since 1994.
Lenders must put aside 12 percent of deposits as reserves
starting Aug. 15, up from 11.5 percent, the People's Bank of
China said yesterday.


Read more at Bloomberg Stocks News

UPDATE 5-Nippon Steel, JFE report strong Q1 profit gains

(Reuters) - TOKYO, July 30 - Nippon Steel Corp and
JFE Holdings Inc. on Monday booked strong quarterly
profits on higher prices, raising prospects Japan's top two
steel makers' earnings could gain further momentum this year.




But high raw materials and depreciation costs look to limit
growth at Sumitomo Metal Industries Ltd. and Kobe Steel
Ltd., which rely less on booming car sheet production
than the bigger two rivals.


Read more at Reuters.com Market News

Euro Advances Against Yen, Dollar as Stocks Rise, Investors Return to Risk

(Bloomberg) -- The euro gained the most in six weeks
against the yen as a recovery in stock markets lured investors to
riskier assets.

The euro rose against the dollar as Asian and European
equities rebounded, prompting investors to buy higher-yielding
assets with borrowings in Japan, which has the lowest interest
rate among major economies. The yen also retreated today as a
technical indicator signaled the currency's rally last week was
too fast.


Read more at Bloomberg Currencies News

Yen May Rise to 116 as Abe Clings On as Prime Minister, Deutsche Bank Says

(Bloomberg) -- The yen may rise to a four-month high
of 116 per dollar as Japanese Prime Minister Shinzo Abe will
remain in office after his ruling coalition lost its majority in
upper house elections, according to Deutsche Securities.

Abe's decision to retain his post lessens political
instability that may have forced the Bank of Japan to delay an
interest-rate increase next month. The government is likely to
avoid raising sales taxes and close the income gap to appease
opposition parties, supporting consumer spending and the currency.


Read more at Bloomberg Currencies News

Japan's Nikkei 225 Stock Average, Topix Fall; Toyota and Canon Lead Drop

(Bloomberg) -- Japan's Nikkei 225 Stock Average
fell 171.71, or 1 percent, to 17,112.10 at 9:02 a.m. in Tokyo.
The broader Topix index dropped 16.48, or 1 percent, to
1,683.23.

Toyota Motor Corp. and Canon Inc. led the declines.


Read more at Bloomberg Stocks News

New Zealand Dollar Falls to Four-Week Low, Investors Avoid Carry Trade

(Bloomberg) -- The New Zealand dollar fell to a
four-week low as falling global stock markets and U.S. subprime
mortgage losses prompted investors to avoid riskier assets.

The currency, known as the kiwi, is a favorite for the
carry trade, where investors borrow cheaply in yen to put their
funds in countries that offer higher yields. New Zealand's
record 8.25 percent benchmark interest rate is 7.75 percentage
points more than Japan's, luring traders to the higher returns
offered by the nation's fixed income assets.


Read more at Bloomberg Currencies News

Cattle Futures Head for Fifth-Straight Weekly Gain on Exports; Hogs Rise

(Bloomberg) -- Cattle futures rose to a three-month
high in Chicago, heading for their fifth-straight weekly gain on
expectations that export sales will increase. Hog prices
advanced on speculation of more pork sales to China.

U.S. beef exports to Japan and South Korea, typically the
largest overseas customers, have risen since both countries this
year lifted bans imposed in December 2003 after a mad-cow
disease outbreak. Japan bought $1.4 billion in U.S. beef in 2003
and South Korea bought $814 million worth.


Read more at Bloomberg Commodities News

Pound Posts Weekly Decline Versus Dollar as Investors Shun Risk, on Carry

(Bloomberg) -- The pound snapped a six-week rally
against the dollar as global stocks slumped and investors pared
so-called carry trades on concern U.S. subprime mortgage defaults
will slow growth.

The U.K. currency slid for a third day against the dollar,
falling from a 26-year high, as investors unwound purchases of
assets funded by borrowing in Japan and Switzerland, which have
the lowest rates among major economies. The pound this week fell
almost 4 percent against the yen, the most in five months.


Read more at Bloomberg Currencies News

US economy, exports driven by global growth-Paulson

(Reuters) - "Now I believe what we're seeing is a strong global
economy. This is the strongest global economy I've seen in 32
years. The growth rate in Europe has doubled. We've got growth
throughout Asia. Japan is now growing, so I think this is being
driven by strong growth outside of the U.S."




The Commerce Department said earlier that U.S. economic
growth rebounded to 3.4 percent during the second quarter, its
strongest pace since the beginning of last year on a surge in
business investment, increased government spending and improved
trade performance. The data marked a big turnaround from anemic
0.6 percent growth in the first quarter, a figure previously
reported as 0.7 percent.


Read more at Reuters.com Economic News

S.Africa's bourse down 2 pct on global sell off

(Reuters) - South Africa's blue chip top 40 index opened more than 2 percent lower on Friday on the back of a global markets sell off.

Asian shares dropped sharply while Japanese government bonds and the yen rose on Friday as investors fled riskier assets, fearing rising costs of corporate credit will damage the U.S. economy. European shares also opened lower.


Read more at Reuters Africa

Yen Strengthens as Equities Decline, Prompting Unwinding of Carry Trades

(Bloomberg) -- The yen rose against all 16 of the
most actively traded currencies as global equities fell and
traders bought back yen used to finance investments in other
countries.

Japan's currency rose to an almost three-month high against
the dollar, 2.2 percent against the New Zealand dollar and 1.2
percent against the pound. The 10-year swap spread, a gauge of
what companies pay over benchmark lending rates, rose to 73.75
basis points, the highest since February 2002.


Read more at Bloomberg Currencies News

Yen Rises as Stocks Decline, Prompting Unwinding of Carry Trades

(Bloomberg) -- The yen rose to the highest in a
month against the euro and gained versus the dollar as declines
in European stocks and U.S. stock-index futures prompted
investors to unwind carry trades.

The Japanese currency rose to 164.83 per euro as of 7:08
a.m. in New York, from 165.34 late yesterday. It also rose to
120.16 against the dollar, from 120.50, approaching a 2 1/2-month
high of 119.81 reached July 25.


Read more at Bloomberg Currencies News

Subprime woes unlikely to roil Japan banks -UBS

(Reuters) - So far, Japan's top nine lenders, including Mitsubishi UFJ
Financial Group Inc. and Mizuho Financial Group Inc.
, have sunk more than 1 trillion yen into such
investments, UBS credit analyst Nana Otsuki said in a report last
week.




But while the bulk of that may be in securitised products
such as collateralised debt obligations -- which use risky home
loans as their underlying collateral -- Japanese banks have
largely opted for products with high ratings, Otsuki said.


Read more at Reuters.com Bonds News