Japan's key bond yield edges lower to 0.500% in morning
TOKYO - The yield on the bellwether 10-year Japanese government bond ended Tuesday morning slightly lower on buying spurred by weaker Tokyo stocks.
The yield on the No. 334, 0.6 percent issue, the main yardstick of long-term interest rates, ended morning interdealer trading at 0.500 percent, down 0.005 percentage point from Monday's close.
Tokyo stocks fall in morning on selling after rally
TOKYO - Tokyo stocks ended lower Tuesday morning as investors moved to lock in gains following recent rallies.
The 225-issue Nikkei Stock Average shed 62.37 points, or 0.40 percent, from Monday to 15,550.88. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 2.89 points, or 0.22 percent, at 1,288.42.
Dollar retreats into upper 103 yen zone as rally pauses
TOKYO - The U.S. dollar pulled back into the upper 103 yen zone in Tokyo on Tuesday morning as traders locked in gains following the dollar's rapid rise of the past few days on positive U.S. economic indicators and signs of a hawkish Federal Reserve.
At noon, the dollar fetched 103.84-93 yen compared with 104.00-10 yen in New York and 104.12-14 yen in Tokyo at 5 p.m. Monday.
Japanese politician pleads innocent at drugs trial in China
GUANGZHOU, China - A 70-year-old Japanese politician accused of attempting to smuggle illegal drugs out of China last year on Tuesday pleaded innocent at the start of his trial at a court in the southern city of Guangzhou.
Takuma Sakuragi, a member of the Inazawa municipal assembly in Aichi Prefecture, has denied any wrongdoing since his arrest in December, according to his lawyer.
Abe to reshuffle Cabinet on Sept. 3
TOKYO - Prime Minister Shinzo Abe will reshuffle his Cabinet on Sept. 3, he said Tuesday in a meeting of Liberal Democratic Party executives.
"I would like to make fresh changes as we enter the second chapter of Japan's recovery featuring (work on) national security and regional economies," said Abe, also president of the LDP.
Health ministry seeks 1.1 bil. yen to curb sale of quasi-legal drugs
TOKYO - The health ministry said Tuesday it will step up its campaign to curtail the spread of technically legal but potentially harmful recreational drugs, requesting a 1.1 billion yen budget for the effort for the next fiscal year starting in April.
The National Institute of Health Sciences currently conducts 500 inspections annually on pharmaceuticals, food and chemical substances and the increased budget, along with outsourcing of some inspections to private institutions, is expected to allow the organization to handle 10 times more cases.