Market Report – Asian Shares Ease, Japan-China Watched

In today’s market report… Asian shares edged lower, as Japanese investors eyed the yen and bilateral ties with China.

The Nikkei dipped as the Japanese currency remained near a post-intervention high with expectations that Japan may buy dollars again.

Consumer finance lender Takefuji planned to file for bankruptcy with $5.2 billion in debts, stemming in part from Japan’s cap on interest rates at 20 percent and limiting the amount for individual borrowing.

Looking to attend to a sharp rift in ties, Japan announced Prime Minister Naoto Kan would attend an Asian and European leaders‘ meeting next week and try to meet with his Chinese counterpart.

Separately, Japan’s Economics Minister said China’s de facto ban on rare earth exports to Japan would have a big impact on his country’s economy.

Elsewhere in Asia, China’s Ningbo Port declined in its Shanghai trading debut, after it raised $1.1 billion in its initial public offering.

Foto: NTDTV