Tokyo

Sumitomo Mitsui Financial to incur 3.9-billion-dollar loss

Sumitomo Mitsui Financial to incur 3.9-billion-dollar loss Tokyo - Japan's Sumitomo Mitsui Financial Group (SMFG) has announced Fridaythat it would incur losses for the previous fiscal year that ended March 31, a turnaround from earliar profit forecasts, a media report said. Sumitomo Mitsui, one of Japan's three mega-banking groups had expected a net profit in November, but it revised downward the full-year forecast amid declining stock prices and the global financial turmoil, the bank said.

Japanese government approves 154-billion-dollar stimulus plan

Japanese government approves 154-billion-dollar stimulus plan Tokyo - The Japanese government and the ruling coalition parties finalized an additional stimulus plan Friday to pull the nation's economy out of the worst recession of the postwar era. Japan's third stimulus package since September is to inject 15.4 trillion yen (154 billion dollars ), worth 3 per cent of the gross domestic product, into the world's second largest economy in what is considered the nation's largest-ever stimulus plan.

Including other non-spending measures and loan guarantees, the package totals 56.8 trillion yen.

Tokyo market extends gains on Wall Street's overnight surge

Tokyo market extends gains on Wall Street's overnight surgeTokyo - The Tokyo market extended gains to end Friday trading higher after briefly sending the key Nikkei 225 Stock Average above 9,000 at one point on Wall Street's overnight surge. The Nikkei index was up 48.05 points, or 0.54 per cent, to close at 8,964.11 after peaking at 9,068.8 during morning trading. The Nikkei rose above the 9,000 level for the first time in three months.

The broader Topix index of all first-section issues also rose 4.16 points, or 0.49 per cent, at 845.97.

Japan's royal couple celebrates 50th wedding anniversary

Japan's royal couple celebrates 50th wedding anniversary Tokyo - Japanese Emperor Akihito tearfully thanked his wife, Empress Michiko, for her support Friday as they marked their 50th wedding anniversary at their palace in Tokyo. While expressing heartfelt gratitude to well-wishers, the 75-year-old emperor said he felt bad about receiving congratulations from many citizens while the nation suffers through a recession.

The emperor choked up at a press conference as he looked back on the years he has spent with his wife, who was the first commoner to marry into Japan's imperial family.

Japan imposes new sanctions against North Korea

Japan imposes new sanctions against North Korea Tokyo - Japan on Friday imposed stronger restrictions on money transfers to North Korea and extended existing sanctions against its totalitarian neighbour after its weekend rocket launch. The existing sanctions - including a ban on North Korean imports and a ban on ferry trips, the only transport link between the two countries - were due to expire Monday but were extended for another year.

The new sanctions are "aimed at shedding light on the flow of funds [to North Korea]," Foreign Minister Hirofumi Nakasone said.

Tokyo market open higher on Wall Street's overnight surge

Tokyo market open higher on Wall Street's overnight surgeTokyo - The Tokyo market opened higher Friday, briefly sending the key Nikkei 225 Stock Average above 9,000 after an overnight surge on Wall Street. The Nikkei index was up 47.45 points, or 0.53 per cent, to 8,963.51 after peaking at 9,068.8 at during morning trading.

The broader Topix index of all first-section issues gained 3.66 points, or 0.43 per cent, at 845.47.

Exporters were helped by a weaker yen, which boosts earnings of Japanese firms.

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