Japan Financial News

TOKYO—A top Japanese energy official called on Australia to back away from new carbon-emissions rules that Tokyo says threaten its energy security, stepping up a rare fight between the two U.S. allies. The Australian rules, which took effect July 1, require new liquefied-natural-gas facilities to be carbon-neutral on their first day of operations.

Kyushu island has been hit hard, rivers have overflowed, and hillsides have collapsed due to an unusually high volume of water. According to the national weather agency of Japan, the city of Kurumi has received 402.5 mm of rainfall, the highest ever recorded rainfall in a day. The Japanese Meteorological Agency has said that the heaviest rainfall in a day was recorded on 12 October 2019 when it rained 922.5mm. The heavy downpour has affected normal life as roads in many parts have collapsed and electricity transmission lines have snapped and damaged badly. Authorities have asked the people to evacuate as more rains are apprehended. Japanese Meteorological Agency official Satoshi Sugimoto told journalists that he believed it was the «heaviest ever experienced» rain in the region. Government spokesman Hirokazu Matsuno told the AFP that three people have been killed in the flooding and the number may go up. Besides, three others are missing in the remotely placed areas. The local authorities have said that an old woman died after getting trapped in a house in Soeda, Fukuoka province. Her husband somehow survived. A woman was washed away by the flood waters while driving a car in Kurumi City. Many remote areas have been cut off from the rest of the country due to flash floods. The government authorities have issued evacuation notices to residents of many areas. Japan gets torrential rains every year these days. Scientists have said that climate change and increased temperature have intensified the rains as a warmer atmosphere holds more water and causes heavier rains. Possibilities of landslide also increased as soil got eroded and lose due to rainfall.

The prime ministers of Poland and Japan have held talks on security, Russia’s war on Ukraine and the strengthening of business ties

Berkshire Hathaway Energy has agreed to purchase a 50% stake in the Cove Point liquefied natural gas facility for $3.3 billion in cash.

Global miner Rio Tinto and Japan’s Sumitomo Corporation will build a $111 million world-first hydrogen plant at the Yarwun alumina refinery in Gladstone to help reduce carbon emissions at the energy-intensive facility.

Sector-wise, buying was seen in telecom, capital goods, consumer durables, and power stocks while selling was visible in metals and banks. Stocks that were in focus on Tuesday include Mazagon Dock Shipbuilders (which was up 10%), Bharat Dynamics (which saw a spike of nearly 14%) and Polycab India (which closed with gains of over 6%). We have collated a list of three stocks that either hit a fresh 52-week high or saw a volume or a price breakout.

An industry group says China’s auto sales rose 8.8% over a year earlier in the first half of 2023 as electric vehicle purchases surged

Benchmark U.S. crude oil for August delivery fell 87 cents to $72.99 a barrel Monday

Hong Kong leader John Lee says the city will ban marine products from “a large number prefectures” if Japan discharges treated radioactive wastewater into the sea

Lethal flooding has simultaneously hit India, Japan, China, Turkey and the U.S. Northeast

South Korean opposition lawmakers have sharply criticized the head of the United Nations’ nuclear watchdog for its approval of Japanese plans to release treated wastewater from the damaged Fukushima nuclear power plant

China is escalating its chip war with the United States by imposing export controls on the overseas sales of gallium and germanium, elements essential to making semiconductors, CNN Business reported. China's trump card is seen as the counter-attack to potential US tightening of [its] AI chip ban. «We see this as China's second, and much bigger, countermeasure to the tech war, and likely a response to the potential US tightening of [its] AI chip ban,» said Jefferies analysts as cited by CNN Business.

RRR’ fans rejoice! In a recent interview with Telugu channel Maha News, KV Vijayendra Prasad, the writer behind the 2022 epic period drama confirmed that a sequel to the Ram Charan-Jr NTR starrer is indeed in the works. The sequel will also feature the two leads. ‘RRR 2’ might be based on another chapter of pre-Independence Telugu history. However, this time around, Rajamouli may not be the one to direct it. Another director will take over the reins, but he will be supervised by the ace filmmaker. “We are planning to make a sequel of Ram Charan and NTR's RRR. The movie will be directed by SS Rajamouli or someone else under his supervision,” told Vijayendra Prasad to the channel. Currently, Rajamouli is busy directing the untitled ‘globetrotting action-adventure film’ starring Mahesh Babu. Touted to be a visual extravaganza, the film is touted to be India’s answer to the ‘Indiana Jones’ series. After that, he will begin working on the large-screen adaptation of the epic ‘Mahabharata’. This will reportedly be a ten-part franchise.

Investing.com — Most Asian stocks rose sharply on Tuesday amid expectations that the Federal Reserve was close to concluding its rate hike cycle for the year, while the prospect of more stimulus measures from China also aided sentiment.

Investing.com-- Most Asian currencies rose on Tuesday, while the dollar sank amid growing bets that the U.S. Federal Reserve was close to concluding its rate hike cycle, with focus also turning to upcoming inflation data for more cues.

Citigroup's head of fintech investment banking in Europe has been hired by Japanese bank DC Advisory in a senior role.

A Canadian teenager was caught carving the pillar of the centuries-old Toshodaiji Kondo temple in Japan and was later questioned by the police on the matter. The 17-year-old was spotted by a tourist carving ‘Julian’ on a pillar at the temple with his fingernail, said Japanese police, reported BBC. After spotting the boy carving at the pillar, the tourists alerted the temple staff, who later enquired about the teenager.

By Julie Zhu

US Federal Reserve to increase interest rates by 25 basis points this month. Meanwhile, several Fed officials said additional interest rate hikes are needed to bring down inflation that is still too high, but the end to the US central bank's current monetary policy tightening cycle is getting close, Reuters reported. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 11th July In Japan, Nikkei 225 gained 0.6% and the Topix rose 0.3%.

«With Q1 result season starting this week, we expect stock-specific action in the market, starting with the technology sector. Also, monsoon-related stocks are likely to remain in momentum,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19100 to 19700 zones while an immediate trading range in between 19200 to 19500 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded 29 points, or 0.15 per cent, higher at 19,485.50, signaling that Dalal Street was headed for positive start on Tuesday.

inflation data, due to be released on Wednesday. The S&P 500 gained 3.89 points, or 0.09%, at 4,402.84. The Dow Jones Industrial Average rose 167.86 points, or 0.5%, at 33,902.74.