Economic news(2024/07/12)
The yen temporarily rose to the 157 yen range against the dollar, and the yen was rapidly strengthening.
2024-07-12 23:00:00
On the 12th, the New York foreign exchange market saw the yen appreciate rapidly, temporarily rising by around 1.5 yen from the upper 158 yen range to the lower 157 yen range. On the foreign exchange market, the government and the Bank of Japan appeared to have intervened in the market after the US Consumer Price Index was announced on the 11th, the day before, and the yen quickly appreciated to the lower 157 yen range. After that, there was a strong movement to sell the yen again, as it had appreciated in value.
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Sharp to offer early retirement to 500 employees due to suspension of large LCD panel production
2024-07-12 21:45:00
Sharp, a major electronics manufacturer, is offering early retirement to around 500 employees of a subsidiary company's factory in Sakai City, Osaka, following the suspension of production of large LCD panels at the factory, according to interviews with people involved.
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An employee seconded from Sompo Japan to an agency leaked about 2,700 pieces of customer information
2024-07-12 21:44:00
It has been discovered that an employee seconded from Sompo Japan Insurance to an insurance agency leaked approximately 2,700 pieces of information, including contract information for corporate clients of the agency, back to the company from which he was seconded.
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Hong Kong investment fund files shareholder proposal calling for dismissal of Kusuri Aoki president and others
2024-07-12 18:44:00
A Hong Kong investment fund known as an "activist" that actively calls for management reforms at the companies in which it invests has announced that it will submit a shareholder proposal to drugstore operator Kusuri no Aoki Holdings, calling for the dismissal of the president, vice president, and other executives.
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Is the government and the Bank of Japan intervening in the market? The yen is rising by more than 4 yen in the foreign exchange market.
2024-07-12 18:42:00
As the historically weak yen continues, on the night of the 11th, the foreign exchange market saw the yen strengthen by more than 4 yen, which is believed to have led to market intervention by the government and the Bank of Japan. The Tokyo market on the 12th also saw volatile price movements, with the yen also moving rapidly in the stronger direction.
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"A mechanism should be introduced to expand ODA private investment" - Foreign Ministry expert panel
2024-07-12 18:11:00
Given the country's severe financial situation, the budget for Official Development Assistance (ODA) is limited, while developing countries are also facing increasing demand for new funds, such as for measures to combat climate change. In response, a panel of experts from the Ministry of Foreign Affairs has put together a recommendation that a support system that would lead to increased private investment should be introduced.
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Yen market: Opinions on market intervention grow stronger; volatile price movements continue in Tokyo market
2024-07-12 17:53:00
As the historically weak yen continues, the foreign exchange market saw the yen strengthen by more than 4 yen on the night of the 11th. There is a growing view in the market that the government and the Bank of Japan may have intervened in the market, and the Tokyo market on the 12th continued to see volatile price movements.
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Is this a government bond bubble? Investment money with nowhere to go [Chinese economy column]
2024-07-12 17:29:00
A "government bond bubble" is currently occurring in China. In the bond market, there has been an increasing trend to buy 10-year government bonds, causing yields to fall to 2.183% in July, the lowest level since 2000. As the real estate slump creates uncertainty about the future of the economy, money that has nowhere to go is flowing into the bond market. Some are of the opinion that a trend known as "Japanification," in which China's financial markets fall into a long-term economic slump like Japan in the past, has begun. What is going on? (China Bureau Reporter Shimomura Naoto)
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Summer bonuses at major companies increase by more than 4% to an average of 983,112 yen, the highest ever
2024-07-12 16:19:00
This year's summer bonuses for major companies were an average of 983,112 yen per employee, up 4% from last year and the highest since the survey began using the current method in 1981.
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Nikkei average falls by 1,033.34 yen, the biggest drop this year
2024-07-12 15:29:00
On the 12th, the Tokyo Stock Exchange saw a surge in sell orders due to a sharp drop in tech stocks in the US and a rapid appreciation of the yen, causing the Nikkei average to fall by more than 1,000 yen. This was the biggest drop so far this year.
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China's June exports increased by more than 8% year-on-year, marking the third consecutive month of export growth
2024-07-12 15:15:00
China's exports in June increased by more than 8% compared to the same month last year, due in part to a large increase in exports to Southeast Asia, China's main trading partner. This is the third consecutive month of growth, but with the US and Europe moving to raise tariffs on Chinese products, the focus is on the future impact.
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Nikkei average falls by 1,033.34 yen, the biggest drop this year
2024-07-12 15:15:00
On the 12th, the Tokyo Stock Exchange saw a sharp drop in the Nikkei average, closing down 1,033.34 yen from the previous day, the biggest drop this year. In the United States, high-tech stock prices fell sharply, and the yen strengthened rapidly, leading to a surge in sell orders for export-related stocks such as semiconductors and automobiles.
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Women divers resume diving in Wajima as work to dig up submerged seabed progresses
2024-07-12 13:08:00
In Wajima City, Ishikawa Prefecture, where the seabed rose due to the Noto Peninsula earthquake, dredging work to deepen the port has progressed, and on the 12th, female divers resumed diving.
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Yen market: Opinions on market intervention grow stronger; volatile price movements continue in Tokyo market
2024-07-12 13:05:00
As the historically weak yen continues, the foreign exchange market saw the yen strengthen by more than 4 yen on the night of the 11th. There is a growing view in the market that the government and the Bank of Japan may have intervened in the market, and the Tokyo market on the 12th continued to see volatile price movements.
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Nikkei average temporarily falls by more than 1,000 yen due to rapid appreciation of the yen
2024-07-12 12:22:00
On the 12th, the Tokyo stock market saw an increase in sell orders due to a sharp drop in tech-related stock prices in the United States and the rapid appreciation of the yen, and the Nikkei average temporarily fell by more than 1,000 yen.
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The yen temporarily rose to the low 157 yen range, but the finance minister did not mention intervention.
2024-07-12 11:25:00
As the historically weak yen continues, on the night of the 11th, the foreign exchange market saw the yen strengthen by more than 4 yen, temporarily reaching the 157 yen range to the dollar. Some in the market have suggested that the government and the Bank of Japan may have intervened in the market, and on the 12th, the Tokyo market saw the yen briefly return to the 159 yen range to the dollar before strengthening again, resulting in volatile price movements.
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The yen temporarily rose to the low 157 yen range, but the finance minister did not mention intervention.
2024-07-12 10:28:00
As the historically weak yen continues, on the night of the 11th, the foreign exchange market saw the yen strengthen by more than 4 yen, temporarily reaching the 157 yen range to the dollar. Some in the market have suggested that the government and the Bank of Japan may have intervened in the market, and on the 12th, the Tokyo market saw the yen briefly return to the 159 yen range to the dollar before strengthening again, resulting in volatile price movements.
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Nikkei average stock price falls by more than 1,000 yen
2024-07-12 10:04:00
On the 12th, the Nikkei average on the Tokyo Stock Exchange fell by more than 1,000 yen. Following the sharp fall in tech-related stock prices on the New York market on the 11th and the rapid appreciation of the yen against the foreign exchange market on the night of the 11th (Japan time), sell orders for semiconductor-related and export-related stocks increased immediately after trading began.
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Yen temporarily rises to the low 157 yen range, no mention of intervention
2024-07-12 10:02:00
As the historically weak yen continues, the yen strengthened by more than 4 yen on the night of the 11th, briefly reaching the 157 yen range to the dollar. Some in the market have suggested that the government and the Bank of Japan may have intervened in the market, and on the 12th in the Tokyo market the yen temporarily recovered to the 159 yen range to the dollar before strengthening again, resulting in nervous price movements.
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The yen temporarily rose to the low 157 yen range, and nervous price movements continued.
2024-07-12 09:13:00
As the historically weak yen continues, the yen strengthened by more than 4 yen on the night of the 11th, briefly reaching the 157 yen range to the dollar. Some in the market have suggested that the government and the Bank of Japan may have intervened in the market, and on the 12th in the Tokyo market the yen temporarily recovered to the 159 yen range to the dollar before strengthening again, resulting in nervous price movements.
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Japanese national arrested in Myanmar indicted for "violation" over rice sales price
2024-07-12 08:05:00
In Myanmar, where the military holds real power, a Japanese expatriate working for a subsidiary of the major distribution company AEON Co., Ltd., who was detained last month for selling rice at a price higher than the controlled price, has been indicted. The Japanese embassy in the country is calling for his early release, but there are concerns that his detention will be prolonged.
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The first pavilion built by the Expo Association was delivered to Jordan
2024-07-12 00:19:00
With just nine months to go until the opening of the Osaka-Kansai Expo, the pavilion known as "Type B" built by the Expo Association, the organising body of the event, has been handed over to Jordan in the Middle East for the first time.
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