News Column

Kyodo news summary -3-

July 1, 2014



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Dollar rises to upper 101 yen in morning on upbeat U.S. data

TOKYO - The U.S. dollar drifted up to the upper 101 yen zone Wednesday morning in Tokyo after data showed an upbeat U.S. economy and sapped the yen of its appeal as a safe haven.

At noon, the dollar fetched 101.60-61 yen compared with 101.49-59 yen in New York and 101.51-52 yen in Tokyo at 5 p.m. Tuesday.

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Nikkei hits 5-month high in morning on overnight Wall St. gains

TOKYO - Tokyo stocks rose Wednesday morning, with the Nikkei stock index hitting a five-month high, as investors were heartened by overnight gains on Wall Street.

The 225-issue Nikkei Stock Average gained 78.40 points, or 0.51 percent, from Tuesday to 15,404.60, after hitting 15,444.63, its best intraday level since Jan. 24.

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N. Korea fires 2 short-range projectiles off east coast

SEOUL - North Korea on Wednesday fired two short-range projectiles off its east coast Wednesday, the timing of which comes a day before Chinese President Xi Jinping is due to visit South Korea.

South Korea'sJoint Chiefs of Staff said the projectiles, presumed to be 300-millimeter KN-09 projectiles fired from multiple-rocket launchers, are believed to have flown 180 kilometers.

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Inflation forecast by companies stays below BOJ goal

TOKYO - Japanese companies expect consumer prices in the country to have risen 1.5 percent on average in a year's time, unchanged from three months ago and well below the Bank of Japan's 2 percent inflation target, data released by the central bank showed Wednesday.

The survey conducted in June also showed the companies project only a 1.6 percent and 1.7 increase in three years and five years from now, in contrast to the BOJ's expectation that the inflation goal would be achieved around 2015.

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Japan's key bond yield rises to 0.560%

TOKYO - The yield on the bellwether 10-year Japanese government bond ended Wednesday morning higher on selling triggered by falls in U.S. government bond prices the previous day and solid performances of Tokyo stocks in the morning session.

The yield on the No. 334, 0.6 percent issue, the main yardstick of long-term interest rates, ended morning interdealer trading at 0.560 percent, up 0.010 percentage point from Tuesday's close.

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Top uniformed Japanese, U.S., S. Korean officers meet for 1st time

HONOLULU - Top uniformed officers from Japan, the United States and South Korea held their first trilateral talks on Tuesday to boost their cooperation in dealing with concerns over North Korea.

Gen. Shigeru Iwasaki, chief of the Joint Staff of the Japanese Self-Defense Forces, Gen. Martin Dempsey, chairman of the U.S. Joint Chiefs of Staff, and South Korean Adm. Choi Yun Hee, discussed the continuing threats of North Korea's missile and nuclear development, their joint press statement said.



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Source: Japan Economic Newswire


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