Japan

Tokyo stocks gain despite economy slump

Tokyo stocks gain despite economy slumpTokyo  - Japanese stocks rose Tuesday despite a revised government estimate outlining an annualized third-quarter gross domestic product (GDP) decline of 1.8 per cent.

Driven up by gains on Wall Street and a rally in commodities, the benchmark Nikkei 225 Stock Average closed up 66.82 points, or 0.8 per cent, to 8,395.87.

The broader Topix index of all first-section issues rose 5.86 points, or 0.72 per cent to 817.94.

On currency markets at midday (0300 GMT), the dollar was quoted at 92.75-80 yen, compared to Monday's 5 pm quote of 93.01-03 yen.

Greenpeace protests detention of Japanese anti-whaling activists

Tokyo  - Members of the environmental group Greenpeace on Tuesday launched a major anti-whaling campaign in Japan, protesting the arrest of two activists who investigated corruption in the country'

China rejects Japanese protest over island dispute

Beijing - Beijing on Tuesday rejected Japanese protests against two Chinese ships entering the waters around a group of disputed islands in the East China Sea.

The Diaoyu Islands have been part of China since "ancient times" Liu Jinachao, a Foreign Ministry spokesman, was quoted as saying by the official Xinhua news agency.

"The usual cruising of the Chinese ships within Chinese seas is irreproachable," he said.

The islands, a source of bilateral tension for many years, are called Diaoyu in China and Senkaku in Japan.

Japan has held the islands since China9s defeat in the Sino-Japanese War in 1895, but they are also claimed by China and Taiwan.

Tokyo stocks gain despite economy slump

Tokyo stocks gain despite economy slumpTokyo  - Japanese stocks rose Tuesday despite a revised government estimate outlining an annualized third-quarter gross domestic product decline of 1.8 per cent.

Driven up by gains on Wall Street and a rally in commodities the benchmark Nikkei 225 Stock Average was up 40.38 points, or 0.48 per cent, to 8,369.43 by mid-trading.

The broader Topix index of all first-section issues rose 5.8 points, or 0.71 per cent to 817.88.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 93.00-03 yen, compared to Monday's 5 pm quote of 93.01-03 yen.

Japanese economy contracted by 1.8 per cent in third quarter

Japanese economy contracted by 1.8 per cent in third quarter Tokyo  - Japanese gross domestic product declined in the third quarter by an annualized 1.8 per cent, according to a revised government estimate, contracting more sharply than in an earlier, initial estimate.

For the July-September period, the Japanese government had initially estimated a contract at an annualized rate of 0.4 per cent.

The sharper contraction only confirms a second quarter of shrinking GDP, clarifying that Japan's economy has plummeted into the textbook definition of recession.

Japanese prime minister under pressure, survey results hit new low

Taro AsoTokyo - Just ten weeks after taking office, Japanese Prime Minister Taro Aso finds himself under growing pressure, with approval ratings dropping below 25 per cent, according to latest surveys.

Levels that low indicate that an administration's life signs have reached the critical stage. The first calls for Aso's resignation have started to filter in.

In light of the survey results, Aso spoke Monday of a "very serious" situation. "I think it indicates criticism that we are not living up enough to expectations about measures against the slumping economy and the deteriorating job situation," he was quoted as saying.

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