City Tokyo Financial News

April 17 marks the 100 days countdown to the Paris Olympics ambitious opening ceremony

The operator of the wrecked Fukushima Daiichi nuclear power plant says it has obtained permission from safety regulators to start loading atomic fuel into a reactor at its only operable plant in Japan, which it is keen to restart for the first time sin...

Shares in Japanese banks and brokerages slid following lacklustre earnings reports from the likes of JPMorgan Chase and Wells Fargo, while local chip-sector stocks also tracked their U.S. peers lower.

Japan’s ruling party, the Liberal Democratic Party, wants the government to carry out “immediate” crypto tax reforms.

Philippines, the United States and Japan will change the dynamic in the South China Sea and the region, Philippine President Ferdinand Marcos Jr. said on Friday, while seeking to assure China it was not a target. «I think the trilateral agreement is extremely important,» Marcos told a press conference in Washington a day after meeting President Joe Biden and Japanese Prime Minister Fumio Kishida in the nations' first trilateral summit. «It is going to change the dynamic, the dynamic that we see in the region, in ASEAN in Asia, around the South China Sea,» Marcos said, referring to the Association of Southeast Asian Nations.

Suzuki said authorities were analysing not just recent yen declines but factors that are driving the moves, and repeated that Tokyo stood ready to respond to any excessive currency swings. Suzuki said finance leaders from the Group of 20 major economies, who will meet in Washington D.C. next week on the sidelines of the spring International Monetary Fund (IMF) gatherings, may discuss currency moves as part of topics for debate.

The euro was eyeing its sharpest weekly fall in about four months, pressured in part by a resurgent greenback and expectations that the European Central Bank (ECB) could begin easing rates in June, likely ahead of the Federal Reserve.

Fed starting its rate-cutting cycle in June, while the yen languished at the levels last seen in the middle of 1990. The yen's slide to a 34-year low of 153.24 per U.S. dollar on Wednesday brought intervention fears back as authorities in Tokyo reiterated that they would not rule out any steps to deal with excessive swings.

The New York Stock Exchange is actively engaged with a pipeline of Japanese companies, some of which may consider a US listing over the next 18 months, according to the bourse’s vice chairman.

Shares are mixed in Asia after U.S. stock indexes held at a near standstill ahead of some potentially market-moving reports

Shares are mixed in Asia after U.S. stock indexes held at a near standstill ahead of some potentially market-moving reports

Web3 infrastructure provider Metaplanet (3350) has seen a surge in its Tokyo-listed stock by nearly 90% within just two days after adding $6.56 million worth of Bitcoin (BTC) to its balance sheet. 

«It is anticipated that a bullish momentum will prevail in the index, and the rally could further extend to 23,000 levels. Short-term support levels for the Nifty exist at 22,700 and 22,620 levels, while resistance stands at 22,800 and 22,900 levels,» said Asit C, Mehta Investment.

The new president of Toyota subsidiary Daihatsu says its parent company will oversee model certification to regain trust after a safety testing scandal

Japanese Prime Minister Fumio Kishida visited a new semiconductor plant for which his government has pledged more than $7 billion of support to secure a steady supply of chips

Japan and the Philippines head to Washington this week for a first trilateral summit aimed at boosting defence ties, hot on the heels of four-way military drills in the South China Sea that riled Beijing. A major upgrade of military command structures between the United States and an increasingly self-confident Japan could be announced, as well as joint coast guard patrols with Manila in areas disputed with China. Also on the agenda will be securing access to vital supplies such as semiconductors and rare metals, North Korea's growing belligerence, and the Japanese takeover of US Steel opposed by President Joe Biden.

TOKYO—Japan’s largest telecommunications company and the country’s biggest newspaper called for speedy legislation to restrain generative artificial intelligence, saying democracy and social order could collapse if AI is left unchecked. Nippon Telegraph and Telephone, or NTT, and Yomiuri Shimbun Group Holdings made the proposal in an AI manifesto to be released Monday. Combined with a law passed in March by the European Parliament restricting some uses of AI, the manifesto points to rising concern among American allies about the AI programs U.S.-based companies have been at the forefront of developing.

Oil prices fell nearly 2% as Middle East tensions eased after Israel withdrew more soldiers from southern Gaza, while gold prices slumped 1% after scaling record high on Friday as U.S. Treasury yields remain elevated.

Mirabai Chanu, the esteemed Indian women weightlifter, has made a resounding comeback to the competitive weightlifting scene. Her remarkable performance at the IWF (International Weightlifting Federation) World Cup 2024 not only marked her return to the sport but also secured her qualification for the prestigious Paris 2024 Olympics. The 29-year-old Manipuri weightlifter sensation finished third in Group B of the women's 49kg (and 11th overall) at the IWF World Cup to book her berth at the Paris Games. Mirabai's path to Paris was paved with dedication and perseverance as she adhered to the rigorous qualification criteria set by the IWF. Her participation in at least five major events, including the World Championships and the 2024 World Cup, ensured her eligibility for the Olympic stage. Currently ranked second in the Olympic Qualification Rankings (OQR), Mirabai's return to form signals her readiness for the upcoming challenge.

geopolitical tensions put a dent in risk sentiment, while traders were also cautious ahead of U.S. jobs data due later in the day. The threat of supply disruptions owing to a prolonged conflict in the Middle East kept Brent futures above $90 a barrel — a level not seen since last October. [O/R]

Asian shares rallied on Thursday as U.S. rate cuts remained on the menu, even if their timing was unclear, while the yen slid against everything except the dollar and boosted Japanese stocks. There was also action in commodities as gold reached another record, oil a five-month peak and copper a 13-month top, helping lift shares in basic materials and energy companies.