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.
Asian Stocks Fall on Dubai Debt Concern, Yen Strength; Obayashi, BHP Slump Asian stocks slumped, dragging the
MSCI Asia Pacific Index down the most in eight months, on
concern over losses stemming from Dubai’s attempt to reschedule
its debt and as the yen strengthened against the dollar.
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.
Beijing Auto, Merbanco, Renco Said to Make Approaches About GM's Saab Unit Beijing Automotive Industry Holding
Co., Merbanco Inc. and Renco Group Inc. have made approaches
about General Motors Co.’s Saab unit after a sale to Koenigsegg
Group collapsed, two people familiar with the situation 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.
Fisher & Paykel Appliances Shares Decline on Wider Loss, Reduced Forecast Fisher & Paykel Appliances Holdings
Ltd., part-owned by China’s Haier Group, dropped the most in two
months in Wellington trading after first-half losses widened and
the company lowered its full-year profit forecast.
Mobius Says Dubai Debt Concern May Trigger Emerging-Markets `Correction' Templeton Asset Management Ltd.’s
Mark Mobius said Dubai’s attempt to reschedule debt may cause a
“correction” in emerging markets, compounded by Vietnam’s
currency devaluation and an “avalanche” of initial share sales.
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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