Asia
Yen Strengthens to 14-Year High, Prompting Speculation Japan to Intervene The yen strengthened to a 14-year
high against the dollar, climbing past 85 to the greenback and
prompting speculation Japan will intervene in markets to
preserve the nation’s export-led economic recovery.
Japan's Bonds Rise as Yen Jumps; Five-Year Yields Reach Lowest Since 2005 Japanese bonds rose, sending five-
year yields to the lowest level since 2005, as stocks slid on
speculation the yen’s advance to a 14-year high against the
dollar will hurt exporters and deepen deflation.
Fujii Says Japan May Contact U.S., Europe After Yen's Jump to 14-Year High Japanese Finance Minister Hirohisa
Fujii said he may contact U.S. and European officials to act on
currencies, amid concern the yen’s surge to a 14-year high will
hamper the economic recovery.
India Studying Effect of Dubai's Debt Delay Plan on $1.2 Trillion Economy India, the world’s top recipient of
migrant remittances, is examining the effect Dubai’s attempt to
delay debt repayments may have on Asia’s third-largest economy,
central bank Governor Duvvuri Subbarao said.
Japan's Unemployment Rate Unexpectedly Falls to 5.1% as Economy Recovers Japan’s unemployment rate in October
unexpectedly fell for a third month, a sign that the worst may
be over for the labor market.
San Miguel Directors May Lead Takeover After $1.36 Billion Stake Purchase San Miguel Corp. Directors Inigo
Zobel and Roberto Ongpin may lead a takeover offer for the
Philippines’ biggest food and beverage maker after paying 64.3
billion pesos ($1.36 billion) for a 28 percent stake.
Sparx Plans to Raise $230 Million for Japan-Focused Green Technology Fund Sparx Group Co., Asia’s biggest
hedge-fund company, plans to raise 20 billion yen ($230 million)
for a fund aimed at investing in Japanese environmental
technology firms as mandates to cut carbon emissions spur demand.
Asian Currencies Drop, Led by Korean Won, as Dubai Roils Emerging Markets Asian currencies fell, led by the
South Korean won and Indian rupee, as emerging markets took a
beating after Dubai sought to delay debt payments, bolstering
demand for safety in U.S. Treasuries and the dollar.
Leighton, Kajima, Obayashi Fall on Concern Dubai World May Lead to Losses Construction stocks in the Asia-
Pacific region fell, led by Leighton Holdings Ltd., Kajima Corp.
and Obayashi Corp., on concern Dubai World’s proposal to delay
debt payments may lead to losses and project cancellations.
Templeton's Mobius Says Vietnam Dong, Stocks to Decline on `Surge of Fear' Vietnam’s dong may decline a further
10 percent on the black market as this week’s devaluation erodes
confidence in the currency, sending the nation’s stocks to the
biggest correction in Asia, Mark Mobius said.
South Korea's President Ready to Meet North's Kim Jong-il, Yonhap Reports South Korean President Lee Myung-bak
said today that he’s ready to meet North Korean leader Kim Jong-
il “anytime and anywhere,” if it will help convince the North
to give up its nuclear programs, Yonhap News Agency reported.
Philippines Mayor Faces Seven Murder Charges Over Massacre of 57 Opponents Philippine prosecutors will charge a
mayor with seven counts of murder for the massacre of 57 people
in the nation’s worst act of election-related violence, killings
that ignited debate over politicians’ private militias.
Greenhouse-Gas Pledges by China, U.S. May Drive Climate Deal in Copenhagen Pledges by China and the U.S. to set
numerical targets for their greenhouse-gas emissions through
2020 may reignite stalled progress for a global climate
agreement at negotiations next month in Copenhagen.
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