Sales of Nintendo’s Wii U console have been weaker than expected, leading to slashed profits

Dollar's plunge against the yen halted

THE DOLLAR'S plunge against the yen was halted yesterday as expectations of official intervention in the currency markets climbed to fever pitch.


MALAYSIA'S STOCK market became the first victim of yesterday's dramatic surge by the yen. With Tokyo shut for a holiday, the composite index lost 11.31 points or 1.55 per cent to 717.74, its lowest level in more than a month.

Japan Tobacco gift `bid to kill off the elderly'

JAPAN'S BIGGEST cigarette manufacturer has ignited a row over a plan to donate millions of free cigarettes to thousands of nursing homes around the country. Japan Tobacco says the gift is its effort to mark today's national "Respect for the Aged" day.

Bank of Japan undermines yen

JAPAN'S CENTRAL bank successfully intervened in the currency markets yesterday to undermine the value of the yen following its 2 per cent surge on Thursday.

Yen surges to three-year high against US dollar

THE YEN surged to a three-year high against the dollar on news that the Japanese economy achieved unexpectedly strong growth over the summer.

Dow unnerved by fresh inflationary pressures

WALL STREET fell sharply yesterday after a leaked economic report showed an unexpected surge in prices at the factory gate. The National Association of Purchasing Managers monthly survey showed manufacturing activity expanding in August, with a jump in the prices component of the index to 59.8 from 54.7.

TOKYO MARKET: Signs of recovery boost domestic issues

JAPAN'S benchmark stock average, the Nikkei 225, may climb back above 18,000 this week as signs of economic recovery encourage investors to add domestic, demand-led issues to their portfolios.

US Treasury set to buy back government bonds

THE UNITED STATES announced plans to buy back government bonds yesterday, with the mounting federal budget surplus allowing it to reduce the $3.6 trillion national debt.

Dollar jumps on hint of yen action

THE DOLLAR jumped more than a yen against the Japanese currency yesterday after Kiichi Miyazawa, Japan's finance minister, raised the spectre of joint intervention with the US to prevent the yen strengthening too much on the foreign exchanges. Any joint action would be the first in more than a year.

Dollar and euro jump as Fed caps yen

THE DOLLAR and euro both jumped on the foreign exchanges yesterday after the Federal Reserve Bank of New York intervened to cap the yen. The Bank of Japan confirmed the intervention on its behalf, the latest in a series of moves to prevent the yen strengthening enough to threaten Japan's hopes of economic recovery.

Outlook: Wall Street threatens Japanese dawn

THOSE THAT recommended caution on equity markets this year, which unfortunately includes this column, have so far been proved dramatically incorrect. This is shaping up to be one of the best-ever bull years for worldwide equities. From the big daddy of Wall Street down to the minnows of Morocco and Mongolia, it is a year of unparalleled optimism. Even in Europe, whose stock markets are among the laggards so far, we've seen a rise in leading stock values of around 15 per cent on average.

BoJ intervenes to stop yen rising

THE BANK of Japan stepped up its intervention in the currency markets to keep the yen from rising, after a survey yesterday showed an improvement in business confidence.

ECB in first forex market intervention

THE EUROPEAN Central Bank intervened on the foreign exchanges in a surprise move ahead of the Group of Eight summit in Cologne yesterday, selling yen for euros on behalf of the Bank of Japan.

Japan tackles rising unemployment

JAPANESE ministers yesterday indicated there would be an extra budget to tackle rising unemployment.
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