Japan Stocks Decline on U.S. Concerns, Strong Yen; Sony and Mizuho Drop

(Bloomberg) -- Japanese stocks fell after American
Home Mortgage Investment Corp. said it lacks cash to fund new
loans, sending U.S. shares lower and reigniting concerns subprime
problems will curb growth in the world's largest economy.

Exporters including Sony Corp. declined after the yen
strengthened, cutting the value of their overseas sales in the
local currency. The U.S. Standard & Poor's 500 Index posted its
biggest monthly drop in three years.


Read more at Bloomberg Stocks News

New Zealand Dollar Declines as Housing Woes Spur Reduction in Risky Bets

(Bloomberg) -- The New Zealand dollar dropped on
renewed concern that losses from U.S. subprime mortgages will
prompt investors to reduce holdings of riskier investments.

The currency, known as the kiwi, is a favorite for the so-
called carry trade, where investors borrow cheaply in yen to
invest in countries that offer higher yields. New Zealand's
record 8.25 percent benchmark rate is 7.75 percentage points
higher than Japan's and 3 points more than the Federal Reserve's
target, luring investors to the local currency. U.S. stocks slid
on concern more companies will be affected by defaults related
to subprime mortgages.


Read more at Bloomberg Currencies News

Dollar edges up as stocks rally

(Reuters) - Stock indexes opened strongly, recovering for a second day from one of Wall Street's worst weeks in five years, boosted by a rosy corporate earnings outlook. But equities subsequently pared their gains, led by losses in the financial sector.




As a result, the dollar came off its highs against the yen and recovered modestly versus the euro, which at one point slipped below $1.37.


Read more at Reuters.com Hot Stocks News

UPDATE 1-Takeda profit rises 5.1 percent, outlook unchanged

(Reuters) - Actos, the main earnings engine for Japan's largest drug
maker, has seen its fortunes rise after sales of
GlaxoSmithKline's Avandia slumped following a critical
study by top cardiologist Steven Nissen published on May 21.




Takeda said April-June first-quarter net profit climbed to
131 billion yen on a 9.6 percent rise in revenue from a year
earlier to 366 billion yen.


Read more at Reuters.com Market News

Two-Year Note Auction in Japan to Draw Lowest Price of 99.97, Survey Shows

(Bloomberg) -- Japan's sale of 1.7 trillion yen
($14.3 billion) of two-year notes today may have a lowest-
accepted price of 99.97, according to the median forecast of 13
traders surveyed by Bloomberg News.

Estimates for the lowest-accepted price ranged from 99.97
to 99.975. The price is the minimum at which the government
sells the securities.


Read more at Bloomberg Bonds News

Canadian Dollar Falls for 4th Day on Subprime Debt, Commodities Concerns

(Bloomberg) -- The Canadian dollar fell for a
fourth day as investors sold commodity-linked currencies on
speculation U.S. subprime mortgage losses will slow the world's
largest economy.

The Canadian currency was the second-worst performer among
the 16 most actively traded currencies, trailing only Japan's
yen, while falling 0.3 percent to 93.70 U.S. cents. One U.S.
dollar buys C$1.0662.


Read more at Bloomberg Currencies News

Yen May Extend Decline Against Euro, Dollar as Stock Rally Encourages Risk

(Bloomberg) -- The yen may extend its decline
against the euro and dollar as a rebound in U.S. stocks might
restore investors' confidence to buy higher-yielding assets
funded by loans in Japan.

The Japanese currency dropped yesterday as rising U.S.
equities encouraged investors to resume the so-called carry
trade. Japan's yen has gained against all 16 major currencies
tracked by Bloomberg this month amid concern over subprime losses
and credit risks.


Read more at Bloomberg Currencies News

Pound Falls Against Euro, Pares Gains Versus Yen on Carry Trade Unwinding

(Bloomberg) -- The pound declined to a two-week low
against the euro and traded near the weakest versus the yen in
almost two months on speculation investors will unwind carry
trades after the risk of holding corporate debt surged.

The U.K. currency has dropped more than 3 percent against
the yen in July, heading for its biggest monthly decline since
August 2006. Widening losses on securities backed by subprime
mortgages prompted traders to reduce investment in high-yielding
currencies such as the pound using funds borrowed in Japan. U.K.
interest rates are the highest among Group of Seven economies.


Read more at Bloomberg Currencies News

Canadian Dollar Falls for Fourth Day on U.S. Subprime Impact Speculation

(Bloomberg) -- The Canadian dollar fell for a
fourth day as investors sold commodity-linked currencies on
speculation U.S. subprime mortgage losses will slow the world's
largest economy.

The Canadian currency fell 0.3 percent to 93.69 U.S. cents
at 8:58 a.m. in Toronto, extending the decline last week when it
dropped 1.45 percent. One U.S. dollar buys C$1.0674. Canada's
dollar fell 0.42 percent against the yen to 111.03.


Read more at Bloomberg Currencies News

Canadian Dollar Falls for Fourth Day on U.S. Subprime Crisis Speculation

(Bloomberg) -- The Canadian dollar fell for a
fourth straight day as investors sold commodity-linked
currencies on speculation U.S. subprime mortgage losses will
slow the world's largest economy.

The Canadian currency fell 0.38 percent to 93.61 U.S. cents
at 8:14 a.m. in Toronto, extending the decline last week, when
it dropped 1.45 percent. One U.S. dollar buys C$1.0683. Canada's
dollar fell 0.72 percent against the yen to 110.72.


Read more at Bloomberg Currencies News

UPDATE 1-Japan Fast Retailing to open big London Uniqlo shop

(Reuters) - Fast Retailing, one of Japan's largest retailers with a
nationwide chain of more than 700 Uniqlo shops, has pledged to
invest up to 400 billion yen over the next three
years on mergers and acquisitions in a bid to double annual
sales to 1 trillion yen by 2010.




The clothing retailer unveiled a $900 million bid for Jones
Apparel Group's upscale clothing chain Barney's New York
Inc. in early July.


Read more at Reuters.com Mergers News

Tunisia Central Bank, Kingboard, Hong Long, Sri Lanka: Asia Bond Alert

(Bloomberg) -- PT Mobile-8 Telecom, an Indonesian
mobile-phone operator that counts Qualcomm Inc. as an investor,
and Hong Long Holdings Ltd., a Chinese developer, are among
borrowers seeking to sell at least $5.6 billion of bonds in Asia,
according to data compiled by Bloomberg.

Governments and companies in Asia sold $43.8 billion of
debt denominated in dollars, euros and yen this year, up from
$38.2 billion a year earlier, Bloomberg data show. Sales of
Samurai bonds, yen debt sold by foreign entities in Japan, rose
to 1.4 trillion yen ($11.8 billion), from 741 billion yen in the
whole of 2006.


Read more at Bloomberg Bonds News

Japan Shares Fall on Ruling Party's Election Defeat, U.S. Subprime Concern

(Bloomberg) -- Japanese stocks dropped after
Japan's ruling party suffered a worse-than-expected electoral
defeat and U.S. residential investment slumped, raising concern
the world's largest economy will slow.

Sony Corp. slid and Nintendo Co. extended its two-day loss
to 9.6 percent, leading exporters lower after the yen advanced
to the highest against the dollar in more than three months,
reducing the value of their overseas sales.


Read more at Bloomberg Stocks News

South African Rand Posts Biggest Weekly Decline in 5 Months on Global Risk

(Bloomberg) -- South Africa's rand had its biggest
weekly slide against the dollar in almost five months as global
stocks slumped and investors sold emerging-market assets.

The rand also dropped against the yen and the Swiss franc
as investors sold South African stocks and bonds to unwind so-
called carry trades. Government debt declined for a third week
as traders raised cash to pay back loans in yen and francs used
to fund purchases of emerging-market securities.


Read more at Bloomberg Emerging Markets News

Dollar hits 2 1/2-mth low vs yen on credit worries

(Reuters) - The tumble in the U.S. stock market also prompted investors to trim risky trade financed by borrowing in the low-yielding yen, boosting the Japanese currency broadly on Tuesday.




Market participants were keeping an eye on share prices, and another sell-off in global stock markets could prompt more investor risk aversion, traders said.


Read more at Reuters.com Hot Stocks News

Honda, Riding `Buzz' From New Accord, May Win Investors as Toyota Stalls

(Bloomberg) -- Shares of Toyota Motor Corp.
outperformed those of Honda Motor Co. in the first half of the
year on rising U.S. sales. Now it may be Honda's turn.

Japan's second-largest carmaker will reap bigger gains than
Toyota from a weaker-than-forecast yen and higher demand for
more fuel-efficient vehicles in the U.S., said Jeffrey Scharf,
president of Scharf Investments, a $660 million fund in Santa
Cruz, California. Honda also predicts sales will rise with the
September release of a new Accord sedan, its top-selling model.


Read more at Bloomberg Exclusive News

Dollar Declines to Record Low Against Euro on Spreading U.S. Mortgage Woes

(Bloomberg) -- The dollar declined to a record
against the euro and weakened to a 26-year low versus the pound
on speculation the rout in subprime mortgages is spreading,
slowing U.S. growth.

The currency's drop accelerated after Countrywide Financial
Corp., the biggest U.S. mortgage lender, reported a third
straight quarterly earnings decline as more consumers fell
behind on home equity loan payments. The yen gained versus all
but one of the 16 most actively traded currencies as U.S. stocks
fell and traders pared carry trades in which they borrow in the
yen to invest in higher-yielding assets.


Read more at Bloomberg Currencies News

Rubber Falls in Tokyo on Strengthening Yen, `Weaker' Commodities Sentiment

(Bloomberg) -- Rubber futures in Tokyo fell as the
yen strengthened and some analysts said investors were starting
to favor assets other than commodities.

The Japanese currency gained to its highest in more than two
months against the dollar, cutting the yen cost of contracts to
buy rubber in dollars. The Rogers International Commodity Index
fell 1.3 percent yesterday.


Read more at Bloomberg Commodities News

Dollar hits 2-month low vs yen as credit jitters linger

(Reuters) - The dollar slid broadly on Tuesday, hitting a two-month low against the yen with sentiment weighed by concerns that problems in the U.S. subrpime mortgage market will leak into broader economic activity.

Weakness in the subprime, or risky, mortgage sector is already spreading to some segments of credit markets, forcing investors to 'play safe' over the last few weeks by buying top-rated government bonds and selling the dollar for almost all other major currencies.


Read more at Reuters Africa

Rubber Falls as Yen Advances Against U.S. Dollar, China Imports Decline

(Bloomberg) -- Rubber futures in Tokyo fell for the
first day in four as the yen strengthened to its highest in more
than six weeks against the dollar and China reported imports of
the commodity declined last month.

A gain in Japan's currency damps the value of yen-
denominated contracts for commodities such as rubber, which
trades globally in dollars. China's natural rubber imports
dropped 1 percent in June to 118,417 metric tons from a year ago,
the Beijing-based Customs General Administration said today.


Read more at Bloomberg Commodities News