Kyodo economic news summary -2-+
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[July 27, 2008]

Kyodo economic news summary -2-+

(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, July 28_(Kyodo) _ ---------- Japan poised to accept WTO compromise proposals for free trade deal

GENEVA - Japan is considering accepting many of the compromise proposals having been put on the negotiation table at the World Trade Organization for a free trade accord, trade sources said Sunday.

Japan is finding it difficult to rebuff the proposed target of 4 percent each rich country is allowed to designate as sensitive farm products to shield them from steep tariff cuts, the sources said.

---------- Tokyo stocks rebound, but caution over Japan earnings reports weighs

TOKYO - Tokyo stocks rebounded Monday morning as investors were encouraged by gains on Wall Street and a weaker yen, but their upside was capped by market caution ahead of Japanese firms' earnings reports which come out in full swing this week.



The 225-issue Nikkei Stock Average gained 71.07 points, or 0.53 percent, from Friday to 13,405.83. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 6.38 points, or 0.49 percent, to 1,304.66.

---------- Dollar hits 1-month high at 108 yen level on relief over U.S. economy



TOKYO - The U.S. dollar hit a one-month high at the 108 yen level Monday morning in Tokyo as relief spread over a series of upbeat U.S. economic readings and the U.S. Senate approval of a key housing bill.

At noon, the dollar traded at 107.89-94 yen against Friday's 5 p.m. quotes of 107.80-90 yen in New York and 106.78-80 yen in Tokyo. It briefly traded above the 108 yen line for the first time in Tokyo since June 26.

---------- Key 10-year JGB yield rises on advance in Nikkei index

TOKYO - The yield on the benchmark 10-year Japanese government bond rose Monday morning as the bond was sold on the back of a rise in the Nikkei stock index.

In interdealer trading, the yield on the No. 294, 1.7 percent issue gained 0.005 percentage point from Friday's close to 1.580 percent. At one point, the yield reached the 1.6 percent level.

Copyright ? 2008 Kyodo News International, Inc.

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