Asia

  • 2019-08-18 21:46


    TOKYO (MNI) - Kazushige Kamiyama, a former representative of the Bank of Japan's New York branch, has been promoted as the bank's chief economist and director-general of the BOJ Research and Statistics Department, effective immediately.

    The Bank of Japan announced the appointment on Monday, along with that of Toshitaka Sekine, the former chief economist, who has been appointed as the head of the Institute for Monetary and Economic Studies, the BOJ thinktank.

    --MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
    --MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

    [TOPICS: MAJDS$,MMJBJ$,M$A$$$,M$J$$$]

  • 2019-08-14 06:31


    BEIJING (MNI) - China faces increased economic downward pressure, as all July macroeconomic indicators came in below market expectations, coming down from the one-off strong performance in June.

    Liu Aihua, the spokeswoman of the National Bureau of Statistics, insisted at a Wednesday briefing monthly fluctuations are common, and the countercyclical policies taken are having an effect.

    -CAR SALES SLUMPED

    Retail sales grew by 7.6% y/y, falling sharply from June's 16-month high of 9.8%, and missed the 8.5% forecast polled by MNI. This is the lowest level in three months since April's 16-year low of 7.2%.

    The deceleration was mainly caused by the contraction of car sales, which reversed June's 17.2% y/y gain and fell 2.6% in July.

  • 2019-08-12 21:15


    TOKYO (MNI) - Japan's corporate goods price index posted a second straight year-on-year drop in July, with the index falling to the lowest level since December 2016 when it was down 1.2% on year, data released by the Bank of Japan Tuesday showed.

    June's -0.1% was the first year-on-year drop in 30 months.

    A BOJ official said that the underlying trend of CGPI hasn't changed, although the index continues to be influenced by fluctuation of international commodity prices caused by the trade friction between the U.S. and China.

    He added that weak consumer goods prices (-1.6% on year in July vs.

  • 2019-08-09 07:03


    LONDON (MNI) - The Yuan has been the go-to barometer for global sentiment this week, unsurprisingly after the U.S.

  • 2019-08-08 21:34


    TOKYO (MNI) - The Bank of Japan Friday lowered the scale of its purchases of medium- and super long-term Japanese government bonds, while increasing the size of purchases for JGBs with a remaining life of 1 to 3 years.

    JGBs were little influenced by the BOJ's decisions after bonds opened higher, taking their lead from strong U.S.

  • 2019-08-08 20:24


    --Japan Q2 Real GDP +0.4% Q/Q; MNI Median +0.1%
    --Japan Q2 Real GDP +1.8% Annualized; MNI Median +0.5%
    --Japan Q2 GDP Posts 3rd Straight Rise
    --Japan Q2 Domestic Demand Contribution +0.7 PP
    --Japan Q2 Net Export Contribution -0.3 PP
    --Japan Q2 Public Investment +1.0% Q/Q, +0.0 Point Contribution
    --Japan Q1 Real GDP Revised to +0.7% Q/Q, +2.8% Annualized

    TOKYO (MNI) - Japan's economy posted a third straight quarter growth in the April-June period, up 0.4% q/q, or an annualized +1.8%, boosted by stronger private consumption and capital investment, preliminary GDP data released Friday by the Cabinet Office showed.

    Growth slowed slightly from Q1, which rose a revised 0.7% q/q, or an annualized 2.8%.

  • 2019-08-08 01:24


    --Japan July Econ Watchers Current Index 41.2; June 44.0
    --Japan July Watchers Current Index Posts 3rd Straight Drop
    --Japan July Watchers Outlook Index 44.3; June 45.8
    --Japan July Watchers Outlook Index Posts 1st Drop in 2 Months
    --Japan Govt Lowers View: Weakness seen in recovery

    TOKYO (MNI) - Japan's current sentiment index fell for a third consecutive month in July, weighed by items linked to households, such as retail sales and services, a key government survey released Thursday showed.

    The monthly survey indicates whether respondents with jobs most sensitive to economic conditions -- taxi and truck drivers, department-store sales staff and restaurant and shop owners -- think economic conditions have improved or worsened from the three months prior.

    These are th

  • 2019-08-05 20:23


    --Japan June Average Wages +0.4% Y/Y, 1st Rise in 6 Months; May -0.5%
    --Japan June Real Average Wages -0.5% Y/Y; 6th Straight Drop; May -1.3%
    --Japan June Base Wages +0.1% Y/Y, 1st Rise in 6 Months
    --Japan June Overtime Pay -0.2% Y/Y, 1st Drop in 2 Months
    --Japan June Bonuses, Other Special Pay +0.9% Y/Y, May -0.4%

    TOKYO (MNI) - Average wages in Japan rose 0.4% year-on-year in June, the first rise in six months following a 0.5% decline in May and real wages are still in negative territory, preliminary data released Tuesday by the Ministry of Health, Labour and Welfare showed.

    The key points from the Monthly Labour Survey:

    --Total monthly average cash earnings per regular employee in Japan rose 0.4% year-on-year to Y451,918 in June, the first rise in six months followi

  • 2019-08-05 09:02


    BEIJING (MNI) - China's central bank Governor Yi Gang said the country won't use exchange rates as a tool to deal with trade conflicts, engage in competitive devaluation, or use forex for competitive purposes, and maintain letting the market decide exchange rates.

    Yi made a rare statement on Monday through the People's Bank of China (PBOC)'s WeChat account, following the yuan weakening below seven against the dollar, a critical level that many saw the PBOC had vigorously defended before. It also followed U.S. President Donald Trump last Friday unexpectedly announcing a 10% tariff hike on $300 billion Chinese exports starting Sept 1.

    The yuan closed at 7.0352 against the dollar from Friday's close of 6.9416, the weakest since March 2008.

  • 2019-08-05 00:34


    TOKYO (MNI) - Bank of Japan, Ministry of Finance and Financial Services Agency officials will meet from 1345 JST (0445 GMT) on Monday to exchange views amid the yen's rise and the sharp fall in the Nikkei stock index.

    The officials meet periodically to exchange views on global financial markets and Monday's meeting is the first since Thursday.

    As of 1307 JST (0407 GMT), the Nikkei stock index was at 20,594.05, down 493.11 points or 2.34% from Friday's close.

    The dollar traded at around Y106.02, down Y0.57 on Friday's close due to a narrowing interest rate gap between the U.S.