Asia Business

Flock on: Mongolia meat exporters turn to Iran's halal markets

07h20 Mongolian butcher Kuntuguan Ajbai chants under his breath as he slits the throat of a sheep with a single stroke of his sharpened knife, making sure the animal's swift death is halal – acceptable. . .  Full story

Japanese nuclear power companies in talks over alliance -source

06h59 Four of Japan's biggest nuclear operators and plant builders have started talks on a potential partnership in atomic energy, as the sector struggles to reboot in the wake of the Fukushima disaster seven years. . .  Full story

China's Hebei plans more rail, river freight to cut truck pollution

06h57 The smog-prone Chinese province of Hebei is aiming to slash road freight in favour of rail and river transport over the next two-and-a-half years as part of efforts to improve air quality, officials said.. . .  Full story

JGBs dip as stronger risk appetite lifts stocks

06h49 Japanese government bond prices dipped on Wednesday as stronger investor risk appetite lifted equity markets, denting demand for safe-haven debt.. . .  Full story

China stocks fall as growth, trade concerns continue to weigh; HK up

06h28 China stocks fell on Wednesday, weighed down by persistent economic concerns and worries over the outlook for trade ahead of lower-level talks between Washington and Beijing.. . .  Full story

Australia cancels livestock shipper's live export licence after sheep deaths at sea

06h15 Australia's government has cancelled the live export licence of the country's biggest livestock shipper, Emanuel Exports Pty Ltd, after investigating the death of thousands of sheep during a shipment to the Middle East last year.. . .  Full story

SE Asia Stocks-Philippines rebounds; Thailand gains on financials

06h12 Philippine shares resumed trade on Wednesday on a firm note after a holiday, led by real estate stocks, while gains in financials and energy pushed the Thai index higher. Asian. . .  Full story

-Ping An Insurance posts best 6-month profit in decade on strong customer growth

05h50 Ping An Insurance Group Co of China , the country's largest insurer by market value, on Tuesday reported its biggest half-yearly profit in at least a decade on robust customer growth.. . .  Full story

Nikkei rises supported by tech shares; telecom shares volatile

05h18 Japan's Nikkei rose on Wednesday morning supported by tech shares, which tracked gains in their U.S. peers, while telcos were volatile on worries that their mobile fees will be cut.. . .  Full story

Japan may dial back stimulus before price goal met - ex-BOJ Ishida

05h00 Japan's healthy economic growth should allow its central bank to whittle down its massive stimulus programme, even before inflation hits its 2 percent target, Koji Ishida, a former Bank of Japan board member, said.. . .  Full story

NZ retail sales jump in Q2, point to robust GDP growth

02h19 New Zealand retail sales jumped in the second quarter, pointing to a rosier outlook for economic activity and pushing the New Zealand dollar to its highest in nearly two weeks.. . .  Full story

Iraq's southern oil exports head for record high in August - sources

21/08 Oil exports from southern Iraq are on course to hit another record high this month, two industry sources said, adding to signs that OPEC's second-largest producer is following through on the group's agreement to raise. . .  Full story

Sri Lankan shares extend falls to near 17-month closing low

21/08 Sri Lankan shares extended losses into an eighth session on Tuesday and posted their lowest close in nearly 17 months, as foreign investors continued to sell, while a report about new tax proposals weighed. . .  Full story

Spanish energy company Cepsa ready to launch listing in September -sources

21/08 The Abu Dhabi owner of Spanish energy company Cepsa is expected to opt for an IPO instead of a private stake sale and plans to launch the listing as early as September, according to. . .  Full story

China's Country Garden to slow development pace after safety incidents

21/08 Country Garden, China's top property developer by sales, said on Tuesday it will slow the pace of new projects to focus on safety and quality, as core profit in the first six months hit. . .  Full story

SE Asia Stocks-Most markets rise on Sino-U.S. trade-talk hopes

21/08 Most Southeast Asian stock markets rose on Tuesday on hopes that the United States and China would be able to ease trade hostilities, while U.S. President Donald Trump's comment about the Fed rate hike. . .  Full story

Petronas Chemicals eyeing acquisitions to boost specialty business

21/08 The chemical manufacturing unit of Malaysia's state energy firm Petronas is actively looking to acquire companies to expand its specialty chemical business, its chief executive officer said on Tuesday.. . .  Full story

Ping An Insurance posts best 6-month profit in decade on strong customer growth

21/08 Ping An Insurance Group Co of China , the country's largest insurer by market value, on Tuesday reported its biggest half-yearly profit in at least a decade on robust customer growth.. . .  Full story

Indonesia revises palm crop fund rules to back biodiesel drive

21/08 Indonesia made public on Tuesday a revised regulation that gives the country's palm crop fund more leeway to support the expanded use of biodiesel in Southeast Asia's largest economy.. . .  Full story

Malaysia's Mahathir cancels China-backed rail, pipeline projects

21/08 Malaysian Prime Minister Mahathir Mohamad said on Tuesday that the Chinese-funded $20 billion East Coast Rail Link (ECRL) project and a natural gas pipeline project in Sabah will be cancelled for now, according to media. . .  Full story

Hong Kong shares up on Beijing stimulus hopes

21/08 Hong Kong stocks rose on Tuesday as the yuan stabilized and investors expect Beijing to further relax its policies to counter the impact of Sino-U.S. trade frictions.. . .  Full story

China says will keep liquidity reasonably ample

21/08 China's central bank said on Tuesday that it will keep liquidity reasonably ample but will not resort to strong policy stimulus.. . .  Full story

China stocks close higher, technology leads gains

21/08 China stocks extended their gains on Tuesday, led by technology, consumer and financial stocks, as risk appetite improved on signs the government will relax monetary and fiscal policies to counter the impact of Sino-U.S. trade. . .  Full story

Nikkei edges up on futures-buying; mobile carriers tumble

21/08 Japan's Nikkei shed losses and edged up after a weakening of the yen spurred futures purchases, but mobile phone carriers tumbled after a media report cited a Japanese official as saying the industry needs. . .  Full story

Nikkei drops as yen rises after Trump rate comment; U.S.-China talks eyed

21/08 Japan's Nikkei dropped on Tuesday morning as a stronger yen hurt risk sentiment, with cyclical stocks such as shippers, machinery stocks and automakers losing ground.. . .  Full story

-India tells state oil firm ONGC to list overseas unit

21/08 The Indian government has asked its biggest state-owned firm, Oil and Natural Gas , to list its overseas unit ONGC Videsh, according to a letter seen by Reuters.. . .  Full story

Iran resumes electricity supplies to Iraq

21/08 Iran said on Tuesday it had resumed supplies of electricity to Iraq and other neighbouring states 10 days earlier, after shortages in Iraqi cities sparked unrest in July.. . .  Full story

Longer-dated JGBs gain as 20-year auction attracts firm demand

21/08 Longer-dated Japanese government bond prices rose on Tuesday after a 20-year debt auction attracted firm demand from investors, with the market drawing an additional lift from overnight gains in U.S. Treasuries.. . .  Full story

China stocks extend rebound as healthcare, consumer firms rally; Hong Kong up

21/08 China stocks extended rebound on Tuesday, aided by strong gains in consumer and healthcare firms, as investors hunted for bargains after recent losses. ** The CSI300 index rose 1.9 percent to 3,329.08 points at the. . .  Full story

Latest CEFC default brings China bond defaults near $6 billion in 2018

21/08 CEFC Shanghai International Group, a unit of troubled energy firm CEFC China Energy Co Ltd, defaulted on bond payments due Monday, the company's fifth bond default this year. As of CEFC's. . .  Full story

Beijing to act against 'hidden' local debt - China Daily

21/08 China has drawn up new guidelines on measuring and controlling "hidden" local government debt, the official China Daily said on Tuesday, citing senior government sources.. . .  Full story

Oil gains on easing trade war concerns, sanctions on Iran

20/08 Oil futures rose on Monday after weeks of declines, as investors grew more concerned about an expected fall in supply from Iran due to U.S. sanctions and worried less that a trade war between. . .  Full story

Sri Lankan shares fall for 7th session in thin trade

20/08 Sri Lankan shares extended losses into a seventh session on Monday and posted their lowest close in nearly seven weeks, as foreign investors continued to reduce their holdings, while confusion over new tax measures weighed. . .  Full story

China Vanke posts record first-half profit on strong sales

20/08 China Vanke Co , the country's No.3 property developer by sales, reported record first-half profit on Monday, buoyed by strong contract sales.. . .  Full story

China says will keep providing aid to Pacific for sustainable development

20/08 China will continue to provide aid to Tonga and other countries in the Pacific to help them achieve sustainable development, China's Foreign Ministry said on Monday, amid a mounting debt problem in the region.. . .  Full story

SE Asia Stocks-Most markets rise; Indonesia jumps nearly 2 pct

20/08 Most Southeast Asian stock markets rose in line with broader Asia on Monday as investors cheered planned Sino-U.S. trade talks, while Philippine shares fell over 1 percent on continued selling by foreign investors.. . .  Full story

HK shares rise, led by IT, resources shares as risk appetite improves

20/08 Hong Kong shares rebounded on Monday, led by IT and resources shares, as a stabilizing yuan and optimism over Sino-U.S. trade talks improved risk appetite.. . .  Full story

Taiwan Q2 current account surplus at $17.82 bln

20/08 Taiwan's second-quarter balance of payments data, released by the central bank on Monday. Figures are in billions of U.S. dollars.. . .  Full story

Bangladesh starts operations at country's first LNG terminal

20/08 Bangladesh has started operations at the country's first liquefied natural gas (LNG) terminal, the country's energy minister said on Monday, following delays related to technical problems and bad weather.. . .  Full story

China stocks end higher as report of regulator meeting lifts sentiment

20/08 Shanghai stocks recovered from a 2-1/2-year low to close higher on Monday after a report that China's securities regulators summoned brokerage analysts for views on the market improved investor sentiment.. . .  Full story

Thailand can't buck global policy tightening trend - chief

20/08 Thailand cannot buck global policy tightening trend but any interest rate hike will be gradual, its central bank governor said on Monday.. . .  Full story

Sri Lanka's July tea output down 7.3 pct y/y

20/08 Sri Lanka's tea output fell 7.3 percent in July from a year earlier, the state-run Tea Board said on Monday, and brokers attributed the fall to adverse weather conditions. "There. . .  Full story

Japanese stocks ease, investors await U.S.-China talks

20/08 Japan's Nikkei fell on Monday as chip-related stocks weakened, tracking their U.S. peers's declines on Friday, while trading was thin as investors awaited developments from trade talks expected between the United States and China this. . .  Full story

Breakdown of Thai Q2 GDP growth data by sector

20/08 Thailand's economy grew at a slower pace in April-June than the first three months of the year as tourism decelerated. In the second quarter, there was growth of 1.0 percent. . .  Full story

JGBs little changed in subdued trade; 2, 5 and 40-yr cash bonds untraded

20/08 Japanese government bond prices were little changed on Monday, as a wait-and-see mood prevailed ahead of proposed Sino-U.S. trade talks and the Federal Reserve's Jackson Hole meeting coming up later this week.. . .  Full story

Malaysia's Aug 1 - 20 palm oil exports fall 10.6 pct -AmSpec Agri

20/08 Exports of Malaysian palm oil products for August 1 - 20 fell 10.6 percent to 609,098 tonnes from 681,178 tonnes shipped during July 1 - 20, according to independent inspection company AmSpec. . .  Full story

China, Hong Kong stocks firm with yuan; investors await Sino-U.S. talks

20/08 China and Hong Kong stocks firmed on Monday, tracking other Asian markets, as investors awaited developments on planned Sino-U.S. trade talks and the Chinese yuan moved away from recent lows. ** The CSI300 index was. . .  Full story

-Thai Q2 GDP growth pace slows, but govt keeps 2018 target

20/08 Thailand's economy expanded at a slower pace in April-June and tourism decelerated, but the state planning agency kept its 2018 growth forecast at 4.2-4.7 percent and raised its projection for export gains.. . .  Full story

Nikkei falls as chip-related stocks weigh; market focuses on U.S.-China talks

20/08 Japan's Nikkei fell on Monday morning as chip-related stocks weakened, tracking their U.S. peers's declines on Friday, while investors awaited developments from trade talks scheduled between the United States and China this week.. . .  Full story

BOJ may be 'stealth tapering' in stock markets, analysts say

20/08 Japan's central bank appears to be growing more comfortable with larger declines in the country's stock prices, a sign it may have begun in the share market what analysts describe as "stealth tapering" of. . .  Full story

Tel Aviv exchange gets green light for stake sale to hedge fund Manikay

19/08 The newly privatised Tel Aviv Stock Exchange (TASE) has won approval from Israel's securities regulator for a deal to sell nearly 20 percent of the exchange to investment fund Manikay Partners and another 19. . .  Full story

China regulator asks financial institutions to support infrastructure investment

19/08 China's banking and insurance regulator has asked financial institutions to give more support to infrastructure investment, importers and exporters, and creditworthy companies experiencing temporary problems.. . .  Full story

Philippine Finance chief wants samurai bond issue every other year-Nikkei

18/08 Philippine Finance Secretary Carlos Dominguez would like his country to issue yen-denominated "samurai" bonds every two years after a successful issuance of such bonds earlier this month, Japan's Nikkei business daily on Saturday quoted him. . .  Full story

China sacks 6 senior officials at food and drug regulator over vaccine scandal

18/08 China said on Saturday it has sacked six senior officials at its food and drug regulator after a safety scandal at vaccine maker Changsheng Biotechnology Co Ltd revealed failings at the government body including inadequate. . .  Full story

Worst floods in a century kill scores in India's Kerala

17/08 The worst floods in a century in the Indian state of Kerala have killed 164 people and forced more than 200,000 into relief camps, officials said on Friday, with the toll expected to rise. . .  Full story

Saudi Aramco committed to meeting future oil demand- energy minister

17/08 Saudi state oil giant Saudi Aramco remains committed to meeting future oil demand through continued investments, the kingdom's Energy Minister Khalid Al Falih said in a company report on Friday.. . .  Full story

German bond yields hit one-month low as Turkey worries resurface

17/08 German bond yields returned to one-month lows on Friday as the threat of more U.S. sanctions on Turkey hit the lira once again, boosting demand for safe-haven assets including high-grade euro zone government debt.. . .  Full story

Malaysian financier wanted in 1MDB probe says he will not surrender

17/08 A Malaysian financier wanted for his role in the multi-billion-dollar scandal at state fund 1MDB has said he does not expect to get a fair hearing anywhere and will not present himself to any. . .  Full story

Asia Gold-Buyers snap up bargains as price dive revives demand

17/08 Physical gold demand in India regained momentum this week as jewellers stocked up after prices dipped to their lowest in over seven months, with lower prices attracting fresh buying and driving premiums higher in other. . .  Full story

In rare move, China punishes ratings agency Dagong over violations

17/08 One of China's biggest debt rating agencies has been punished by the securities regulator and a supervisory group under the central bank, in a rare rebuke that underscores Beijing's concern about credit risks at. . .  Full story

World's top pork firm shuts China slaughterhouse in race to contain deadly swine fever

17/08 China has ordered the world's top pork producer, WH Group Ltd, to shut a major slaughterhouse as authorities race to stop the spread of deadly African swine fever (ASF) after a second outbreak in. . .  Full story

Taiwan nudges up 2018 growth outlook, sees slower pace next year

17/08 Export-reliant Taiwan raised its 2018 economic growth forecast on Friday for the third time this year, despite worries about global trade frictions and softening demand for its hi-tech gadgets.. . .  Full story

SE Asia Stocks-Most markets rise on plans for U.S.-China trade talk

17/08 Most Southeast Asian stock markets ended higher on Friday after China and the United States agreed to hold their first trade talks since June later this month and the Turkish lira extended its recovery. . .  Full story

S.Korea's poor job data increases pressure on Moon to boost growth

17/08 South Korea's president is under mounting pressure to create more jobs and spur economic growth after his plan to boost demand by sharply hiking minimum wages has backfired.. . .  Full story

Oman oil output 975,500 bpd in July, ministry says

17/08 Oman's crude oil and condensate production averaged 975,500 barrels per day in July, the oil ministry said on its website on Friday. (Reporting by Maher Chmaytelli; Editing by Susan Fenton). . .  Full story

Turkish firms and government face $3.8 bln bond crunch in Oct -SocGen

17/08 Turkey and its firms face repayments of nearly $3.8 billion on foreign currency bonds in October as the country struggles with a plunging lira that has lost more than a third of its value. . .  Full story

Japan ministries may have fiddled numbers of disabled employees - media

17/08 Several ministries in Japan may have been inflating for decades the number of disabled people they employ in order to meet quotas, media said on Friday, even as the government imposes levies on private. . .  Full story

Hong Kong shares rise on Tencent rebound, easing trade tensions

17/08 Hong Kong shares closed higher on Friday after five consecutive days of losses, as index heavyweight Tencent made rebound after its recent battering, and in response to hopes talks next week between the U.S.. . .  Full story

China's money rates rise on signs of liquidity tightness

17/08 China's primary money rates rose over the past week as corporate tax payments drove demand for funds in the financial system, prompting the central bank to resume liquidity injections through its bond facilities.. . .  Full story

Shanghai stocks end at 31-month low as healthcare firms slump

17/08 Shanghai stocks closed at a near 31-month low on Friday, dragged down by a slump in healthcare firms amid a vaccine scandal fallout, but planned talks between the United States and China helped ease. . .  Full story

Malaysia's Mahathir faces headwinds as Q2 economic growth falters

17/08 Malaysia cut its full-year growth forecast and reported much slower second-quarter expansion on Friday, as the country reviews mega projects and tackles a massive debt left by the previous government.. . .  Full story

Nikkei rises on hopes for U.S.-China trade talks; chip-related stocks fall

17/08 Japan's Nikkei rose on Friday on hopes that talks between China and the United States next week would ease trade tensions, but chip-related stocks fell after Applied Materials disappointed investors with worse-than-expected earnings forecasts overnight.. . .  Full story

Temasek-backed Chinese travel site aims to raise up to $300 mln - sources

17/08 A Chinese travel website backed by Singaporean state investor Temasek Holdings hopes to raise up to $300 million in a new funding round that it hopes to value the firm at $2 billion to. . .  Full story

JGBs post modest gains on central bank bond-buying operation

17/08 Japanese government bond prices rose modestly on Friday, helped by a regular debt-buying operation conducted by the central bank.. . .  Full story

Vaccine scandal weighs on China shares; HK stocks climb

17/08 Shares in China fell on Friday, pulled down by healthcare companies after a vaccine maker warned it could be delisted due to an ongoing vaccine scandal, but planned talks between the United States and. . .  Full story

Japan July inflation seen ticking up but still far from BOJ target

17/08 Japan's core consumer inflation rate likely picked up slightly in July but due mostly to rising energy costs rather than robust demand, a Reuters poll showed, further evidence the central bank is making little. . .  Full story

Nikkei rises on U.S.-China trade talks; chip-related stocks fall

17/08 Japan's Nikkei rose on Friday morning as trade tensions appeared to ease and gains in U.S. shares supported sentiment, but chip-related stocks fell after Applied Materials disappointed investors with worse-than-expected earnings forecasts overnight.. . .  Full story

China sacks top official over vaccine scandal, firm may de-list

17/08 China has sacked a senior provincial official and is probing a former top drug regulator after a safety scandal at vaccine maker Changsheng Biotechnology Co Ltd, which again warned it could be delisted over the. . .  Full story

China cenbank's maturing bills, repos next week

17/08 Maturing Chinese central bank reverse bond repurchase agreements will drain 130 billion yuan ($18.90 billion) next week. The People's Bank of China (PBOC) has drained 1.12 trillion yuan on a net. . .  Full story

China's new 2-year treasury futures flat on first day of trade

17/08 China's new two-year benchmark treasury futures were flat on the their first day of trade on Friday.. . .  Full story

China weekly open market operations; drains 1.12 trln yuan YTD

17/08 The People's Bank of China (PBOC) has drained 1.12 trillion yuan ($162.81 billion) on a net basis from money markets via open market operations so far this year. China's. . .  Full story

Japan's manufacturers most confident in 7 mths despite trade war worries -Reuters Tankan

17/08 Business confidence among Japanese manufacturers was at its highest in seven months in August thanks to a firm global economy, a Reuters poll showed on Friday, but the service sector's mood hit its lowest. . .  Full story

Oil steadies but outlook for demand grows gloomy

16/08 Oil rose slightly as global markets steadied on Thursday, recovering some of the previous day's 2 percent slide, though a weakening outlook for crude demand kept prices in check.. . .  Full story

-China finds second African swine fever case at WH Group plant

16/08 China found its second case of African swine fever (ASF) on Thursday at a slaughterhouse owned by WH Group Ltd's Chinese unit, stirring concerns about the spread of the deadly infection across the world's largest. . .  Full story

India monetary policy panel cites inflationary risks as reason for rate hike

16/08 India's monetary policy committee (MPC) members cited possible risks of inflation in the second half of the year as one of the key drivers for raising interest rates in August, according to minutes of. . .  Full story

China to prosecute suspects, confiscate illegal income of scandal-hit vaccine maker

16/08 Chinese authorities will prosecute all suspects in a safety scandal at vaccine maker Changsheng Biotechnology Co Ltd and confiscate its illegal earnings, state broadcaster CCTV reported on Thursday.. . .  Full story

Japan must act to protect Fukushima clean-up workers: UN experts

16/08 Japan must act urgently to protect tens of thousands of workers labouring to clean up the damaged Fukushima Daiichi nuclear power station from reported exploitation and exposure to radiation, U.N. human rights experts said on. . .  Full story

China nearly quadruples infrastructure approvals in July as growth slows

16/08 China almost quadrupled the value of fixed-asset investment projects approved in July from the previous month as Beijing looks to accelerate infrastructure spending to stabilize the cooling economy.. . .  Full story

Iraqi southern oilfields export 3.6 mln bpd so far in August

16/08 Iraq exported an average of 3.6 million barrels per day (bpd) from its southern oilfields so far in August, two oil executives said on Thursday.. . .  Full story

China ploughs $144 bln into shantytown redevelopment so far in 2018

16/08 China has invested 990 billion yuan ($143.63 billion) for a massive urban redevelopment project in the first seven months of 2018, the housing ministry said on Thursday.. . .  Full story

China court rejects appeal from Anbang's jailed ex-boss Wu Xiaohui

16/08 A Chinese court has rejected an appeal by Anbang Insurance Group Co Ltd's former chairman, Wu Xiaohui, against a conviction for fundraising fraud and embezzlement that led to an 18-year jail sentence and confiscation of. . .  Full story

SE Asia Stocks-Most markets fall as risk appetite remains fragile

16/08 Most Southeast Asian stock markets tracked broader Asia to end lower on Thursday, as Turkey's currency woes and concerns of slowing economic growth in China weighed on investor risk appetite. However,. . .  Full story

Hong Kong shares fall for 5th straight day; Tencent down 3 pct

16/08 Shares in Hong Kong fell for a fifth consecutive session on Thursday, as concerns over slower growth in China and Turkey's currency crisis weighed on regional markets, but hopes of a possible rapprochement between. . .  Full story

Thailand to ban imports of high-tech trash, plastic waste

16/08 Thailand will ban imports of 432 types of scrap electronics within six months, an environment ministry official said on Thursday, the latest country to respond to China's crackdown on imports of high-tech trash this year.. . .  Full story

China stocks fall for fourth session; news of trade talks caps decline

16/08 China stocks hit a near two-and-half-year low in early trading on Thursday as the yuan's recent fall dampened investor confidence, but news of Sino-U.S. trade talks later this month helped recoup some of the. . .  Full story

Nikkei ends lower on hopes of new U.S.-China trade talks

16/08 Japan's Nikkei ended lower on Thursday after paring early losses following news of fresh talks between China and the United States, which raised hopes of a potential thaw in their trade war and weakened. . .  Full story

Asian physical rubber prices - Aug 16

16/08 Grade Prices Thai RSS3. . .  Full story

Digital payment firms fight for Hong Kong market

16/08 Hong Kong's shopping districts are well known for their fierce competition. Now, a new battleground is forming as digital payments firms fight for retailers and shoppers.. . .  Full story

China Evergrande invests in project to build world's fastest supercomputer

16/08 Property developer China Evergrande Group on Thursday said it will invest 1.65 billion yuan ($239.53 million) into six high-tech projects by the Chinese Academy of Sciences, including one aimed at building the world's fastest supercomputer.. . .  Full story

China stocks extend losses on weak yuan; trade talks report caps fall

16/08 China stocks hit a near two-and-half-year low in early trading on Thursday as the yuan's descent dampened investor confidence, but news of Sino-U.S. trade talks later this month helped recoup some of the losses. **. . .  Full story

Nikkei erases early losses on hopes for new US-China trade talks

16/08 Japan's Nikkei erased losses on Thursday morning following news of coming talks between China and the United States, which raised hopes of an easing of their trade war and made the yen weaken.. . .  Full story