ICICI, Reliance Communications Attract Investors to Their Biggest Loans

(Bloomberg) -- India's ICICI Bank Ltd. and Reliance
Communications Ltd. are getting their biggest loans as banks and
investors focus on safer credits.

ICICI, India's largest lender to consumers, hired Goldman
Sachs Group Inc. and Calyon among 10 firms to arrange a yen-
denominated loan equivalent to $1.5 billion, said Calyon, the
investment-banking unit of Credit Agricole SA. Reliance
Communications' $1 billion loan got twice as much in lending
offers, said Ramesh Venkat, group president for finance at the
parent company, Reliance ADA Group.


Read more at Bloomberg Bonds News

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

New Zealand Dollar May Fall as Housing Woes Spur Exit From Risky Bets

(Bloomberg) -- The New Zealand dollar may decline
today as concerns return about the U.S. subprime mortgage market,
deterring traders from riskier investments such as the carry
trade.

The trade, where investors borrow cheaply in yen to invest
in higher-yielding assets elsewhere, has seen the currency gain
25 percent against the yen in the past year, with investors
lured to the nation's record 8.25 percent benchmark rate. U.S.
stocks dropped Aug. 4 after Samuel Molinaro, chief financial
officer at Bear Stearns Cos. called the current crisis in fixed-
income the worst ever.


Read more at Bloomberg Currencies 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

Tokyo Electric Cuts Profit Forecast on Nuclear Plant Shutdown After Quake

(Bloomberg) -- Tokyo Electric Power Co., forced to
shut the world's largest nuclear plant after an earthquake this
month, slashed its profit forecast because the utility will need
to burn costlier oil and gas to make up the shortfall.

Tokyo Electric predicted net income of 65 billion yen ($547
million) in the year ending March 31, compared with 310 billion
yen estimated in April, Asia's biggest utility said in a
statement to the stock exchange today. The forecast for pretax
profit was cut to 130 billion yen from 400 billion yen, and the
sales estimate raised to 5.45 trillion yen from 5.4 trillion yen.


Read more at Bloomberg Energy News

Dollar steadies but credit market worries linger

(Reuters) - The dollar steadied on Tuesday as a rise in U.S. stocks overnight eased some fears about deteriorating credit markets as market players awaited U.S. data for clues on the Federal Reserve policy outlook.

Concerns linger that a further slump in credit and equity markets may prompt investors to continue to cut risky positions like carry trades -- borrowing low-yielding currencies such as the yen to buy higher-yielding assets.


Read more at Reuters Africa

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

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

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

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

Dollar Rebounds as U.S. Stock-Index Futures Advance Before GDP Report

(Bloomberg) -- The dollar rebounded against the yen
and the euro as stock markets gained before a report expected to
show U.S. economic growth accelerated in the second quarter.

The dollar may trim this month's 1.8 percent decline versus
the euro as the Commerce Department will probably say the economy
expanded at an annualized 3.2 percent rate, the fastest in more
than a year, according to a Bloomberg survey. U.S. stock-index
futures rose and European stocks erased earlier losses.


Read more at Bloomberg Currencies 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

Housing Craze `Gazumps' Londoners With Record Prices, $500,000 Parking

(Bloomberg) -- One late-June morning in London, a
real estate broker named Becky Fatemi eases into her black
Porsche Cayenne and heads for Connaught Square, just north of
Hyde Park.

As her sport utility vehicle turns into the square, Fatemi
-- who, by her own account, handled about 55 million pounds
($113 million) of home sales in 2006 -- nods toward one of the
Georgian town houses.


Read more at Bloomberg Bonds News

Asia shares dip on tech outlook, bonds firm

(Reuters) - Nervous share trading bolstered save-haven investments, nudging up gold and lifting Japanese government bond futures to another six-week high.




The dollar, dogged by persistent worries about the fall-out from the U.S. housing and mortgage woes, was unable to hold on to Monday's modest gains and dipped to a two-month low against the yen. The firmer Japanese currency began to eat into gains notched up earlier by exporters like Sony Corp. and Canon Inc. .


Read more at Reuters.com Hot Stocks News

Asian Shares Fall From a High; Honda, Japan Exporters Decline as Yen Gains

(Bloomberg) -- Asian stocks fell, led by Japanese
exporters, after the dollar declined to a six-week-low against
the yen amid concern the U.S. economy is slowing.

Honda Motor Co., which last year made the bulk of its sales
in North America, slid the most in six weeks. Sony Corp., the
world's biggest game-console maker, had its biggest slump in
almost a month.


Read more at Bloomberg Stocks News