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Reports from Tokyo

 

-Japan's parliament on Friday (today) approved the government's nomination for the new Bank of Japan leadership, setting the stage for the incoming governor, Haruhiko Kuroda, to push ahead with more aggressive easing measures than his predecessor. nomination 

- Nikkei rose to above 12,500 which is the level that Nomura  predicted as of the end of the financial year (31-mar-13). I am hearing that Nomura changed their prediction  from 12,500 to 14,500 .

- USD JPY swings from 96.50 to 95.70 yesterday /today  basically supported by Nikkei , JPY crosses such as EURJPY,AUD JPY etc. Maybe it is not wise to buy JPY at this stage  yet.

- I am not so optimistic fro the current Japanese Gov. as Abenomics has not started yet  and it has so many difficult matters to solve ;

- Whether Mr Kuroda  and his team will pursue very aggressive monetary policy …this is a question. 
Real supply of funds will commence from the year 2014.

- TPP is now a big issue. Prime minister Abe will announce today that Japan will join the negotiation. But Japan cannot rule out to protect current taxation on RICE and agricultural products. It is unimaginable for Mr Abe to say NO to the USA.

- Nothing decided  on Okinawa and Osplay .

- Two years passed from earth quake attacked North Japan area on 11-mar-11, but many people left in the temporary houses under severe weather.
Nuclear power plants have  been left without any concrete ideas to settle.

 

 

 

akio kagawa
15-mar-13

 


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