The Nikkei gained 0.24% timidly, to 10,260 points by 6:15, after having opened Tuesday's session up 0.76% for the Nikkei 225. While the broader Topix slid into the red, falling 0.3% to 917 points. On Monday, the Nikkei had slipped 2.17% at 10,235 points amid concern vis-à-vis the euro.
In Hong Kong, the Hang Seng has put forward more than 0.21%, to 19,756 points and the Singapore Straits Times 0.04%, to 2834 points. In Shanghai, the Exchange has started doing the yo-yo, before anchoring in the red: -0.64% to 2697 points.
Monday evening, the finance ministers of the eurozone met to discuss the single currency, which lost nearly 20% since late November 2009 including 13.5% since 1 January.The euro is a "credible currency, said on Tuesday, Jean-Claude Juncker, the leader of Ministers of the euro area.
If this decline in European currencies could help grow the Old Continent, mechanically, through the principle of competitive devaluation, foreign companies suffer a cost of more expensive imports.
Against the yen, the euro down 0.44% and also score 114.7 yen. Levels for 2009 and … early 2002.
The Bank of Japan lends to 0.1%
The Bank of Japan (BoJ) has announced plans to lend money at preferential rates of 0.1%, the interest rate, to companies investing in growth areas, the newspaper Asahi.The central bank should decide in principle on the plan at a meeting of its Monetary Policy Committee this week, before details of the next month, the newspaper said.
This project would support modest growth in Japan low fee pay day loans. In addition to promoting growth, the BOJ has taken steps in recent months to try and halt the deflation that has raged for over a year: It has increased to 20,000 billion yen (174 billion euros) the allocation to provide loans to very low rates to banks.
Back to profit faster JAL
The first Japanese airline Japan Airlines (JAL), currently under judicial restructuring, has set a goal of finding operating income from fiscal year 2010-2011, a year earlier than expected, says Mainichi newspaper on Tuesday.And, thanks to a plan to revive its business that includes an operating profit target of several tens of billions of yen (several hundred million euros) for the current fiscal year.The titles do cotent over $ 0.01.
At the Shanghai Stock Exchange, what are the values of the aviation sector suffering most: China Eastern Airlines: -4.55% to 3.33 Hong Kong dollars despite an increase in traffic in April, China Southern Airlines -3.77%, 3.32 HKD.
Moreover, the Japanese steel companies Nippon Steel (-2.4% to 326 yen) and Argentine Ternium (-2.93% to 33.5 dollars a barrel Monday) announced Tuesday that it plans to invest $ 350 million in common two and a half years in a joint venture in Mexico to manufacture sheets for the automotive sector.
This site eventually produce the equivalent of 400,000 tons "of galvanized steel sheet of high quality and high-grade" for the automotive industry in Mexico, including the Japanese manufacturers on site.