Yen strengthens amid doubts about 'Abenomics', upwardly revised growth

Japanese Prime Minister Shinzo Abe. Photo: AFP

Japan's prime minister, Shinzo Abe, is losing the confidence of the currency market, where traders are repudiating his efforts to end persistent deflation and revive the world's third-largest economy.

Tuesday, 11 June, 2013, 3:25am

Yen heads towards highest weekly rise in five years

Finance minister Taro Aso rules out yen intervention. Photo: Reuters

The yen headed for its largest weekly rise since October 2008 after Japan's finance minister, Taro Aso, said he would not intervene to weaken the currency. Yuji Saito, the director of foreign exchange at Credit Agricole in Tokyo, said: "[Thursday's] sell-off in dollar-yen has picked back up after Aso dismissed the idea of intervention."

8 Jun 2013 - 3:39am

Take advantage of cheap yen by shopping around

Assessing where the yen is heading is not easy, with global volatility a factor in its rise or fall. Photo: EPA

Holidaymakers looking towards Japan as a destination this summer should think ahead when it comes to currency exchange.

3 Jun 2013 - 1:18am

Apple raises prices in Japan after yen weakens

Despite pricier iPads, overall Japanese prices are falling. Photo: AFP

Apple has raised the price of iPad tablet computers and iPod music players in Japan after a weaker yen that's boosting importing costs prompted Toshiba and Fujitsu to consider increasing their prices.

1 Jun 2013 - 4:19am

Nikkei up over 3pc after dollar tops 100 yen

Japan’s benchmark Nikkei 225 index gained more than three per cent in early trade on Friday morning while the US dollar topped 100 yen for the first time in more than four years. Photo: Reuters

Tokyo stocks jumped more than three per cent on Friday morning following the dollar’s surge past the 100 yen mark overnight, underscoring the Japanese currency’s sharp decline in recent months.

10 May 2013 - 10:46am

Yen falls as Japanese investors eye overseas assets

A weaker yen means lower sourcing costs for the 759 snack store chain, which is operated by CEC International. Photo: Nora Tam

The Japanese yen yesterday fell to a 4-1/2-year low to trade at more than 100 to the US dollar. The key level was breached after speculation that Japanese institutional investors were buying overseas assets in search of higher returns.

11 May 2013 - 4:23am

South Korea economy to eke out growth

South Korea’s economic growth probably ticked up in the first quarter but fell short of achieving a firm recovery at a time of heightened risks from a falling yen and North Korea’s war threats, a Reuters poll shows.

24 Apr 2013 - 12:42pm

Yen weakens as G20 applauds BOJ stimulus moves

Haruhiko Kuroda. Photo: Bloomberg

The yen weakened to nearly 100 per US dollar for the first time since April 2009, after the Group of 20 offered no opposition to the Bank of Japan's monetary stimulus policies.

23 Apr 2013 - 4:45am

Caught in the yen current

The yen has hit fresh lows against a host of major currencies, raising big concerns for export-heavy South Korea. Photo: AFP

South Korean Finance Minister Hyun Oh-seok said Japan's weakening yen was hurting his country's economy more than North Korean threats, an example of a "spillover" that merits discussion.

20 Apr 2013 - 5:44am

Japanese exports exceed forecasts as yen weakens

Japan's exports beat estimates in March. Photo: Reuters

Overseas shipments rose 1.1 per cent from March last year, the Finance Ministry said. The median estimate of 22 economists in a survey was for a 0.2 per cent increase. The trade shortfall was 362.4 billion yen (HK$28.6 billion), against 777.5 billion yen in February.

19 Apr 2013 - 4:06am

US calls on Japan not to drive yen down

The yen has fallen against all 16 of its most-traded counterparts since April 4. Photo: Reuters

Japan will be reminded of its pledge not to drive down the yen when Group of 20 finance chiefs meet this week for the first time since the world's third-largest economy intensified its campaign to defeat deflation.

16 Apr 2013 - 6:39am

A yen for Japan

Cherry blossom season is a popular time of year for Hongkongers to visit Japan, and the recent weakness of the country's currency has made it even more appealing. Photo: AFP

Macqueena Fan has been to Japan 15 times. She is a huge fan of the cuisine and every time she goes, she makes sure she indulges in local delicacies like sashimi and Sendai gyutan, a type of grilled ox-tongue. But her most recent trip over Easter was extra sweet.

15 Apr 2013 - 3:11am

Hong Kong shoppers cashing in on weak yen

Japan Premium Store has seen its profit margin surge as lower prices attract buyers at its Causeway Bay outlet. Photo: Edmond So

The fall of the yen has boosted Tokyo-bound Hong Kong tourists back to pre-tsunami levels, said Wing On Travel, one of the biggest travel agents in Hong Kong.

6 Apr 2013 - 4:48am

Outgoing commerce chief warns over trade, inflation

Chen Deming, Minister of Commerce, listens a foreign reporter's question at a press conference at the NPC media centre in Beijing. Photo: Simon Song

The outgoing commerce minister fired a parting shot at Japan and the United States over the negative impact of their monetary easing on China's trade. Chen Deming's criticism came as unexpectedly strong figures were released yesterday for mainland exports last month

9 Mar 2013 - 5:42am

Currency warmongering as out of place as the real thing

The yen has fallen 13pc against the yuan in the past three months.

Last week People's Bank of China deputy governor Yi Gang declared that the central bank is fully prepared for an outbreak of hostilities. This week the former economics tutor of incoming premier Li Keqiang said "China doesn't approve of some countries' overly accommodative monetary policy."

8 Mar 2013 - 4:30am