Asia Stocks Swing between earnings, losses to the Renesas plant restart

反序列化操作“Translate”的响应消息的正文时出现错误。读取 XML 数据时，超出最大字符串内容长度配额 (8192)。通过更改在创建 XML 读取器时所使用的 XmlDictionaryReaderQuotas 对象的 MaxStringContentLength 属性，可增加此配额。 第 2 行，位置为 9069。
反序列化操作“Translate”的响应消息的正文时出现错误。读取 XML 数据时，超出最大字符串内容长度配额 (8192)。通过更改在创建 XML 读取器时所使用的 XmlDictionaryReaderQuotas 对象的 MaxStringContentLength 属性，可增加此配额。 第 1 行，位置为 10825。
April 22, 2011, 3:25 AM EDT By Anna Kitanaka and Kana Nishizawa

April 22 (Bloomberg) -- Asian stocks swung between gains and losses as Japanese chip and automakers rose as a key supplier started production. Japan’s bond futures climbed as Prime Minister Naoto Kan compiled an extra budget to fund reconstruction from the country’s worst earthquake without selling more debt.

The MSCI Asia Pacific Index was little changed at 138.75 at 3:54 p.m. in Tokyo, after earlier falling as much as 0.4 percent. Renesas Electronics Corp., a chipmaker which supplies the country’s carmakers, jumped as much as 6.2 percent after saying it will restart operations at a quake-halted plant. Toyota Motor Corp., the world’s biggest carmaker, rose 3.1 percent. Gold for immediate delivery rose to a record, while spot silver was little changed, trading near its 31-year high. Rubber rose as much as 3.1 percent in Tokyo.

“It’s a difficult environment for investors to take a proactive stance right now,” said Yoshinori Nagano, a senior strategist in Tokyo at Daiwa Asset Management Co., which oversees about $104 billion. “There are still a lot of uncertainties for the global economy.”

Almost as many shares rose as fell on the MSCI Asia Pacific Index, which is on course for a 2.2 percent gain this week, reversing last week’s declines.

Japan’s Nikkei 225 Stock Average was little changed, erasing an earlier drop of as much as 0.8 percent, while the broader Topix index rose 0.1 percent. China’s Shanghai Stock Exchange Composite Index retreated 0.5 percent. Taiwan’s Taiex index climbed 0.1 percent. South Korea’s Kospi Index was little changed.

Market Holiday Closures

Markets in Australia, New Zealand, Singapore, Hong Kong, Indonesia, India and the Philippines are closed for a holiday.

The MSCI Asia Pacific Index gained 0.8 percent this year through yesterday, compared with gains of 6.3 percent by the Standard and Poor’s 500 Index and of 1.7 percent by the Stoxx Europe 600 Index. Stocks in the Asian benchmark are valued at 13.3 times estimated earnings on average as of the last close, compared with 13.7 times for the S&P 500 and 11.3 times for the Stoxx 600.

Chipmakers and car manufacturers were the biggest boosts to Japan’s Topix index, and a gauge of consumer discretionary shares, which includes Toyota and Honda Motor Co. as its members, advanced 0.7 percent, the biggest gain among the 10 industry groups on the MSCI Asia Pacific Index.

Restarting Operations

Renesas Electronics advanced 1.4 percent in Tokyo after earlier rising as much as 6.2 percent and reversing an earlier decline of as much as 3.1 percent, after announcing plans to restart operations at its quake-halted Naka plant in Ibaraki prefecture. Toyota jumped 3.1 percent, Honda rose 2.3 percent and Nissan Motor Co. gained 3.6 percent. All three carmakers reversed earlier declines and were the biggest positive supports to the MSCI Asia Pacific Index.

“Renesas’ production restart is good news for the market,” said Tsutomu Yamada, a market analyst at Kabu.com Securities Co. in Tokyo. “It’s good for semiconductors and also for carmakers. Investors are looking forward to the supply chain getting back to normal.”

Advantest Profits

Also in Tokyo, Advantest Corp., the world’s biggest maker of memory-chip testers, rose 0.8 percent after the Nikkei newspaper said the company’s operating profit may have gained. Yaskawa Electric Corp. jumped 7.3 percent after Credit Suisse Group AG boosted its investment rating on the motor maker.

Mitsubishi UFJ Financial Group Inc., Japan’s biggest listed lender, climbed 0.3 percent after Morgan Stanley agreed to convert most of Mitsubishi UFJ Financial Group Inc.’s preferred stock in the company, paying a premium of about $2 billion.

Japanese bonds rose, sending 10-year yields to a four-week low, on prospects the first spending package for rebuilding from last month’s record earthquake may not worsen the nation’s debt burden after saying it won’t issue new bonds.

Ten-year yields reached the lowest in four weeks on prospects that the first spending package for rebuilding from last month’s record earthquake and tsunami may not worsen the nation’s debt burden.

The yield on the 1.3 percent bond due March 2021 fell one basis point to 1.22 percent at Japan Bond Trading Co., the nation’s largest interdealer debt broker, the lowest since March 25. A basis point is 0.01 of a percentage point.

Respect Fiscal Discipline

“People are finding it favorable that policy makers are at least talking about tax increases and trying to respect” fiscal discipline, said Shinichi Horikawa, who helps to manage the equivalent of $12 billion at Mitsui Sumitomo Kirameki Life Insurance Co.

Treasuries in the U.S. rose for a second week as investors speculated that efforts to cut the Federal budget deficit may damp economic growth and awaited a policy statement next week from the Federal Reserve.

Two-year note yields dropped three basis points, or 0.03 percentage point, to 0.66 percent in New York, from 0.69 percent on April 15, according to Bloomberg Bond Trader prices. Ten-year note yields fell to the lowest level in a month.

‘Getting off Low Levels’

“You are looking at an economy that’s just getting off low levels,” said David Coard, head of fixed-income trading in New York at Williams Capital Group, a brokerage for institutional investors. “The market is looking for guidance from the FOMC. We’re looking for clues as to when the Fed may possibly begin to change course with respect to monetary policy.”

The euro strengthened toward a 16-month high before reports forecast to show French business confidence was at a three-year high and Italian retail sales rebounded, adding to signs the region’s recovery is picking up.

The euro traded at $1.4567 as of 1:46 p.m. in Tokyo from $1.4552 yesterday, when it climbed to $1.4649, the highest level since December 2009. The common currency bought 119.28 yen from 119.11 yen. The dollar was at 81.89 yen from 81.85 yen yesterday, when it fell to 81.62 yen, the weakest level since March 29.

“The eurozone’s recovery looks solid,” said Hitoshi Asaoka, senior strategist in Tokyo at Mizuho Trust & Banking Co., a unit of Japan’s second-largest bank. “As long as inflation is on the upside, market expectations for European Central Bank rate hikes will likely persist, which is euro-supportive.”

French Sentiment

A French index of sentiment among factory executives was unchanged from March at 109 in April, the highest since March 2008, according to a Bloomberg News survey of economists before today’s report. Sales at Italian retailers rose 0.2 percent in February from the prior month, when they fell 0.3 percent, another Bloomberg survey showed before today’s data.

In China, shares declined on concern inflation won’t ease until the second half of the year and that higher material prices may curb earnings growth. The central bank raised the reserve ratio for banks on April 17, less than two weeks after an interest rate increase. The bank has raised banks’ reserve- requirement ratio 10 times since the start of 2010 and interest rates four times.

China Vanke Co. dropped 1.5 percent in Shenzhen and Poly Real Estate Group Co. slipped 0.6 percent in Shanghai. The largest property developers slid after the People’s Daily, a newspaper published by the central bank, said inflation will face “relatively large upward pressure” in the first six months and the central government is very firm on its attitude towards property control even though the task is arduous.

Yuan Forwards

Shenzhen Development Bank Co. declined 1.4 percent after saying it aims to sell up to 4 billion yuan ($614 million) of bonds.

Yuan forwards traded at the biggest premium to the spot rate in more than five months, reflecting speculation the central bank will allow faster currency gains to help tame inflation.

“Uncertainty over further tightening measures is growing in the market and leading to fluctuations,” said Li Jun, a strategist at Central China Securities Co. in Shanghai. “The government won’t take their hands off property investment controls until they see a real drop in prices.”

Gold, Silver, Rubber

Gold for immediate delivery reached an all-time high of $1,510.32 an ounce, and the price of the precious metal is up 1.3 percent this week. Futures for June delivery yesterday touched a record $1,509.60 on the Comex in New York.

Silver for immediate delivery was little changed at $46.6225 an ounce after yesterday jumping to $46.6925, the highest price since 1980. The metal has climbed about 8.5 percent this week, heading for a fifth weekly advance.

Rubber for September-delivery contract advanced as much as 3.1 percent to 425 yen per kilogram on concerns that demand may outpace supply during the low-production season in Southeast Asia.

The cost of protecting corporate bonds from non-payment in Japan was little changed, according to traders of credit-default swaps. The Markit iTraxx Japan index stood at 126 basis points, in line with its level the previous day, according to Deutsche Bank AG.

--With assistance from Norie Kuboyama, Satoshi Kawano, Yoshiaki Nohara and Yusuke Miyazawa in Tokyo, Sungwoo Park in Seoul, Irene Shen in Shanghai and James Regan in Hong Kong, Supunnabul Suwannakij in Bangkok, Susanne Walker in New York. Editors: Nick Gentle, Patrick Chu

To contact the reporters on this story: Anna Kitanaka in Tokyo at akitanaka@bloomberg.net; Kana Nishizawa in Tokyo at knishizawa5@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

View the original article here

Japan may prohibit access nuclear plant

The Japan plans to prohibit access to the area evacuated around a nuclear plant damaged in the month last earthquake and tsunami.

Up to 80,000 people lived in the area of 20 km around Fukushima Daiichi nuclear plants, but almost all of them have left.

However, a few people have been back to check their home, despite the police.

The nuclear power plant has been leaks radiation since its cooling system has been damaged in the earthquake on March 11 and the subsequent tsunami.

Now, officials are indicating for the first time that the area around the plant can be concluded.

"We are considering implementation areas of caution as an option to limit effectively the entry," said the Secretary General of Government Yukio Edano.

He said that Prime Minister Naoto Kan will discuss the closure when he travels in the region meeting with local officials on Thursday. Kan will also visit a nuclear crisis management centre.

Noriyuki Shikata, Member of Edano, said more details on how the access could be controlled are still developed.

"There are a number of people who can enter the area." Under the current regime, we are not able to enforce legally - there is no penalty for entering in the box. There is awareness of the need for a stronger application of the region, said Shikata.

Also, Tokyo Electric Power Co., the operator of the nuclear power plant, said Wednesday that it distributes requests for compensation for persons who were forced to leave the region. The company offers approximately 12 000 US $ per person in initial compensation.

The Associated Back press folders of accessibility links

View the original article here

Nuclear power plant Japan still spewing radiation at sea

Measured radiation in seawater ashore off the Central nuclear Japan tsunami-ravaged several million times legal limit in recent days, while officials argue that contamination still does not constitute an immediate danger.

Radiation was cast in the Pacific Ocean the Fukushima Daiichi plant since a 9.0 magnitude earthquake caused a massive tsunami that flooded the complex. Over the weekend, workers he discovered a crack where the highly contaminated water has been discharging directly into the ocean.

The tsunami has sprayed about 400 kilometres from the northeast coast, killing thousands of people and entire towns flattened. Tens of thousands more lost their homes in the crash of the water, and thousands have been forced to leave the area near the plant because of radiation concerns.

A member of the Force of legitimate defence of the Japan Research victims on a coastline that was damaged by the earthquake and the tsunami, in Miyako, Iwate Prefecture, Tuesday. Toru Hanai/ReutersMany of these "radiation refugees" are frustrated by the mandatory 20-kilometre exclusion zone and plant operator Tokyo Electric Power Co. - including the stock value has plunged its lowest level ever - them said Tuesday it would give the affected towns 20 million yen (240 000 US$) each.

Also Tuesday, TEPCO announced that sea water samples near one of the reactors contained 7.5 million times the legal limit of radioactive iodine on April 2. Two days later, this figure dropped to $ 5 million.

Experts have said that radiation quickly dissipates in the vast Pacific, but they also said that it is not known what will be the effects of large amounts of contamination. No fishing is permitted in the vicinity of complex.

TEPCO said in a statement that even large amounts would have "no immediate impact" on the environment, but added that it is working to stop the leak as soon as possible.

The readings were taken more near the plant as before - apparently because the new points have been added after the crack was discovered - and do not necessarily reflect a worsening of the contamination. Other measures metres hundreds of plant have declined to levels approximately 1,000 times the legal limit - down from 4,385 times the legal limit last week.

Measurements of radiation from TEPCO was questioned last week, and the nuclear safety agency ordered the utility to analyze again its samples. As a result, some figures have been chosen and several days worth of measures were released Tuesday.

Radioactivity is cast into the ocean, in part, because the factory workers were forced to use a method fortune to lower temperatures and pressures by pumping water in reactors and allowing Gush out everywhere where it can. This is a difficult process, but it prevents a complete breakdown of fuel rods that would unleash even more radioactivity in the environment.

This means also is pooling of means highly radioactive water through the plant, and some of them blasted their way to the ocean. Workers are now desperately trying to find a place to store the contaminated water because it is preventing them from restoring the normal cooling systems.

From late Monday, they began less than pumping contaminated water into the sea to space in a storage facility for the more highly radioactive water.

This process should take two days.

The building is not designed to hold water, but it is also not flee, so engineers have decided once it is empty, they can pump in plu radioactive water.

Japan is another method of decontamination of the Russia.

Monday, a spokesman for the Russian nuclear agency, Rosatom, Sergei Novikov, told journalists that the Japan had requested send Russia a vessel used to remove nuclear waste liquid from decommissioned submarines.

Novikov said that Moscow expected responses to certain questions before granting the request.

It has more than 15 million litres of contaminated, water pooling around the plant, Hidehiko Nishiyama, a spokesman of the Japan nuclear and industrial safety agency, said Tuesday. It is unclear how much storage space is left at the plant, but the last approach should make room for approximately 2.6 million gallons in the building of waste storage.

Even if TEPCO has made the decision to release deliberately contaminated at least water is a mark of progress on the resolution of a problem, every day seems to bring a new setback and reputation of the company took a serious blow.

On Tuesday, its stock dropped yen 80 - the maximum daily limit, or 18 per cent - just 362 yen ($ 4.3), falling below its previous low record of 393 yen from December 1951 to closing.

Since the earthquake, the prices of the action of the TEPCO has nose-dived a staggering 80 per cent. The Tokyo Stock Exchange said investors have dumped TEPCO shares worth 1.06 billion of yen since March 11.

Stress to announce the bad news also seems to be taking a toll. An official teared up and his voice starts shaking was details at a press conference near the plant this week.

In what could be an effort to counter the bad advertising, Takashi Fujimoto, Vice-President of the TEPCO, said that the company offered 20 million yen ($ 240,000) for each city or city affected by the mandatory evacuation zone. He calls the cash "money apology" and noted that a city he had refused because he disagreed with the approach. He gave no details.

Accessibility links

View the original article here

Closings loom plant in n America Toyota plants.

A spokesman for Toyota Motor Corp., said Monday it is inevitable that the company shall close its North American plants due to lack of parts of the Japan.

A Toyota spokesman said a shortage of parts caused by the earthquake and tsunami of the Japan would inevitably lead to the closure of the plant in North America. (Associated Press)

Spokesman Mike Goss said that the cases are likely to take place later this month, affecting approximately 25 000 workers. But he said that no layoffs are expected.

He said the length of the cases is unknown and depends on the speed of the Japanese earthquake parts plants get damaged resume operations of.

Toyota gets about 15 percent of its parts of the Japan for cars and trucks built in North America.

The company has more than a dozen North American plants including three assembly plants in Ontario.

Goss made the comments Monday before the onset of Louisville, Kentucky, by head of Toyota of North American operations.

Accessibility links

View the original article here

Japanese tsunami survivors camped out in a nuclear power plant

Japanese tsunami survivors camped Thursday, Mar 31, in a nuclear power plant PlantMaggie Koerth-Baker 10 o'clock 2011

It is a little mind-blowing in terms of the ongoing disaster in the Fukushima Daiichi plant. But in a different part of Japan, tsunami survivors living in their local nuclear power plant.

The Onagawa nuclear power station was built 30-ft. The tsunami waves cope with. (Fukushima, only 18 ft.) (Waves was developed.) After the tsunami destroyed much of the city, made the way for the power plant, in search of protection some of the people, who survived. Weeks of later life 240 of them are still there, according to the associated press. The AP describes these people as sleep and play "in addition to the reactors", but it also says that the refugees in the power plant is accommodated employee gym are. I suspect that "next to" - and the resulting mental image of a bunch of huddled masses snuggled up against a ship containment - is misleading.

The Onagawa plant is one of several nuclear power plants, the smaller damage after the earthquake and tsunami suffered. But the problems here much, much smaller than in Fukushima and operators could get the reactors in cold shutdown pretty quickly. Currently is in shutdown mode.

The company, which owns the power station - Tohoku electric power co., runs another company as the Fukushima Daiichi - still the plant keeps pretty locked. The gates are not wide open for anyone. Only employees and the refugees living there are one and allowed. So all the descriptions of life within the AP come from interviews with those who did while they were away from the power station site.

From the sounds of things, life in the power plant is much nicer than in other refugee camps in Onagawa. People living in contrast to other locations report at the power plant, the access to electricity (the availability of which is Onagawa a refugee camp and Fukushima is a disaster zone.) (Onagawa used also diesel generators, but they were not damaged), as well as dedicated clean toilets and the Tohoku electric power company's telephone network.

Image: Nekosuki600 of CC

About Steve Silberman

View the original article here

Japan: Gentleman crashes truck into the goals of the nuclear power plant in Fukushima

Japan: Gentleman crashes truck in gates of Fukushima of nuclear PlantXeni Jardin at 1:39 PM Thursday, Mar 31, 2011

In Japan, a gentleman fell a speaker truck drive today his car right in the gates of one of nuclear power stations in North Japan of TEPCO (Fukushima Daini, not the leaking in, but very close to the leaked one) operated. This mobile boom box trucks are popular with groups are used, to propaganda broadcast while driving around the hood. After deleting this one in Fukushima # 2, the gentleman was immediately arrested by the po-po. Related: someone has seen, Glenn Beck or Bill O'Reilly O'Reilly in the last 24 hours? I think not. (AFP)

Update: an another gentleman was drawn on the same plant for mischief:

an unemployed man from Tokyo was arrested Friday after entering allegedly with the car in the Prefecture of Fukushima Daini nuclear power plant facilities, close to the radiation leak Fukushima Daiichi plant in Fukushima Prefecture, Police said. Hikaru Watanabe, 25, from Shinjuku Ward, Thursday, before the ride to their rooms for about 10 minutes, that said plant operator Tokyo Electric Power Co., reportedly broke through the western gate of the plant of Daini at 10 am added, that no one, in the incident hurt.

View the original article here