AJMEDIA News Digest: Jan. 4, 2023

Tokyo, 4 January, /AJMEDIA/

Tokyo stocks slide on fears over BOJ tightening, strong yen

TOKYO – Tokyo stocks slid Wednesday morning, as investors started the first trading day of 2023 with heightened fears that the Bank of Japan could move further toward monetary tightening and cause the yen to rise sharply against the U.S. dollar.

The 225-issue Nikkei Stock Average dropped 369.84 points, or 1.42 percent, from Friday to 25,724.66. The broader Topix index was down 19.28 points, or 1.02 percent, at 1,872.43. Japanese financial markets were closed Monday and Tuesday due to the New Year holidays.

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Japan vows to work for unity of Security Council over North Korea

NEW YORK – Japan’s top envoy to the United Nations pledged to do his utmost Tuesday so the Security Council can reach a consensus over North Korea’s weapons programs and other contentious issues as its rotating president this month.

“What I wish to do is to try to have a united, unified voice of the Security Council so that the voice could have an impact” upon North Korea, Kimihiro Ishikane told a press conference.

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Yen hits 7-month high in 129 zone vs dollar on BOJ speculation

TOKYO – The yen strengthened to the mid-129 zone against the U.S. dollar Tuesday, a level last seen in June, amid speculation that the Bank of Japan will further shift away from its ultraloose monetary policy.

The dollar slid to around 129.50 yen from the lower 131 yen range before fetching 130.10-11 yen at 5 p.m.

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Bird flu cases rise to record high in Japan

TOKYO – Bird flu cases in Japan hit a record high after new infections were confirmed in Chiba and Fukuoka prefectures, the farm ministry said Tuesday.

As of Tuesday, a total of 54 cases of avian flu were confirmed across 23 prefectures in Japan this season, according to the Ministry of Agriculture, Forestry and Fisheries.

Philippine leader Marcos to broach S. China Sea issue on China trip

BEIJING – Philippine President Ferdinand Marcos Jr. started Tuesday a three-day trip to China with the leader expected to broach the issue of the South China Sea, where Manila has overlapping territorial claims with Beijing, as both countries set a fresh tone for their relations.

The trip marks Marcos’ first state visit outside Southeast Asia since he took office in June last year. His predecessor Rodrigo Duterte was known for his appeasement of Beijing, taking an accommodating stance toward China’s incursions in waters claimed by Manila in exchange for promised investment from the major Asian economy.

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China warns of countermeasures for COVID entry restrictions

BEIJING – China said Tuesday it plans to take countermeasures for COVID-19 entry restrictions targeting travelers from the Asian country announced by a number of nations, saying Beijing “firmly opposes” the practice of manipulating coronavirus control measures to achieve political goals.

Countries such as Japan, the United States, Britain and France have decided to strengthen border controls for visitors from China, requiring them to test negative for the virus, as cases surge in China following the easing of antivirus measures in December.

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Biden, Japan’s Kishida to meet in Washington on Jan. 13: White House

WASHINGTON – U.S. President Joe Biden will meet Japanese Prime Minister Fumio Kishida in Washington on Jan. 13 to further deepen ties between the two countries, the White House announced Tuesday, saying that they will discuss issues ranging from North Korea’s nuclear and ballistic missile threats to maintaining peace over Taiwan.

While the two leaders have already held talks multiple times, including in Japan where Biden traveled last year, Kishida’s upcoming trip would be his first visit to the U.S. capital since taking office in October 2021.

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New condo releases in Tokyo area expected to increase in 2023

TOKYO – The number of new condominiums put on sale in the Tokyo metropolitan area for 2023 is expected to rise 3.9 percent from the previous year to 32,000 units, according to a recent report by a real estate research firm.

The forecasted rise, the first in two years, is speculated to be led by scheduled sales of large condominiums near train stations in Tokyo’s 23 wards, Real Estate Economic Institute said in late December.

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FEATURE: Japan face tall order replicating Rugby World Cup success

TOKYO – Having reached new heights at the past two tournaments, Japan face an uphill battle replicating their success at this year’s Rugby World Cup in France.

Jamie Joseph’s men will tackle heavyweights England and Argentina in Pool D at the Sept. 8 to Oct. 28 World Cup and must beat at least one of them to reach their goal of a second straight trip to the knockout stage.

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