16 April, 2014 AsiaNews.it Twitter AsiaNews.it Facebook            

Help AsiaNews | About us | P.I.M.E. | | RssNewsletter





mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato
e-mail this to a friend printable version


» 09/14/2010 15:54
JAPAN
Prime Minister Naoto Kan keeps his job as yen reaches 15-year high
Kan’s victory over challenger Ichiro Ozawa for the leadership of the Democratic Party of Japan gives yen a boost, now pegged at 83.25 against the US dollar, the best result since May 1995.

Tokyo (AsiaNews/Agencies) – The yen rose to a 15-year high against the US dollar on news that Prime Minister Naoto Kan beat rival Ichiro Ozawa in a vote today for the leadership of the Democratic Party of Japan. For many observers, this outcome is good for the economy. Meanwhile, Asian stocks fluctuated after three days of gains.

The yen climbed to 83.36 per dollar in Tokyo, down from 83.71 in New York yesterday after earlier rising to 83.25, the strongest level since May 1995.

Overall, the MSCI Asia Pacific Index gained 0.3 per cent to 124.15.

Analysts believe the yen’s upward swing is due to Kan’s victory, which lowered the likelihood that the government might sell yen to weaken the currency, a move Ozawa backed.

“Kan has shown a less aggressive stance than Ozawa on currency intervention,” said Kazuya Yashiro, a Tokyo-based foreign-exchange analyst at Himawari Securities Inc. “His victory will therefore give some opportunities to test the upside of the yen.”

At the helm of the government for the past three months only, Kan was able to get his party to back his leadership, giving his administration a vote of confidence.

Nicknamed the ‘son of a salary man’, Kan beat Ozawa, dubbed the ‘shadow shogun’, by a margin of 721 to 491 votes.

Now, his task is to regain the confidence of the hundred or so members of parliament who backed Ozawa.


e-mail this to a friend printable version

See also
06/07/2010 JAPAN
Government change in Tokyo baffles politicians, worries ordinary people
by Pino Cazzaniga
05/12/2009 JAPAN
Opposition party embroiled in scandal, fears impact on election
04/30/2012 JAPAN
The rise to power Ichiro Ozawa: the "shadow shogun".
by Pino Cazzaniga
09/13/2007 JAPAN
Stress, confusion and criticism sink Shinzo Abe
by Pino Cazzaniga
09/11/2010 JAPAN
Democratic Party of Japan: war between Ozawa and Kan
by Pino Cazzaniga

Editor's choices
SYRIA
I will miss you Fr Frans, you inspired us all, says Syrian Jesuit
by Tony Homsy*A young priest from the Society of Jesus remembers the life and work of Fr Frans van der Lugt, who was killed in Homs after he refused to abandon residents beleaguered by hunger and war. "He gave and continues to give everything for the Church, Syria, and peace. His story and qualities made him an exceptional missionary and witness to the Gospel." Reprinted courtesy of 'The Jesuit Post'.
FRANCE - IRAQ
Chaldean Patriarch on the uncertain future of eastern Christians, a bridge between the West and Islam
by Mar Louis Raphael I SakoThe wars in Iraq, Libya and Afghanistan have made things worse for their peoples, especially minorities. As Western policies have been a failure, fundamentalism has grown with the Arab Spring losing out to extremism. Muslim authorities have a role in protecting rights and religious freedom. The presence of Christians in the Middle East is crucial for Muslims.
CHINA - EUROPEAN UNION
Xi Jinping returns home full of deals and silence
by Bernardo CervelleraThe Chinese president signed agreements worth tens of billions of Euros in France, Germany, the Netherlands, and Belgium. He also stayed clear of any press conference. At the College of Europe in Bruges, he presented his dream of a new trillion-dollar Silk Road. Yet, he also made it clear that at home, the monopoly of power stays with the Party, squashing any dream for political reform in China. On the Internet, netizens disagree with him.

Dossier
by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
by Lazzarotto Angelo S.
pp. 528
by Bernardo Cervellera
pp. 240
Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.