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Kyodo news summary -2-
[July 18, 2014]

Kyodo news summary -2-

(Japan Economic Newswire Via Acquire Media NewsEdge) ---------- Dollar trades in lower 101 yen in morning amid Ukraine, Gaza concerns TOKYO - The U.S. dollar traded in the lower 101 yen range Friday morning in Tokyo as traders stepped back from risk-averse yen buying that had been spurred by a Malaysia Airlines jet crash near the Ukraine-Russia border, apparently shot down, and rising tensions in Gaza.

At noon, the dollar fetched 101.38-43 yen compared with 101.12-22 yen in New York and 101.49-51 yen in Tokyo at 5 p.m. Thursday.

---------- U.S. criticizes Russia over Malaysian aircraft crash WASHINGTON - The U.S. government on Thursday criticized Russia over the reported downing of a Malaysia Airlines aircraft in Ukraine the same day and called on forces concerned for an immediate cease-fire.

"We do know that this incident occurred in the context of a crisis in Ukraine that is fueled by Russian support for the separatists, including through arms, materiel, and training," White House Press Secretary Josh Earnest said in a statement.

---------- New Defense Ministry post for int'l negotiations named TOKYO - The Defense Ministry on Friday appointed Hideshi Tokuchi first vice defense minister for international affairs, a post newly created for international negotiations.

Tokuchi, 58, currently Defense Policy Bureau director general, will take charge of international conferences and negotiations with other countries, including overseeing talks with the U.S. Department of Defense on revising bilateral defense cooperation guidelines.

---------- Abe convenes NSC meeting on Malaysia Airlines plane crash TOKYO - Japanese Prime Minister Shinzo Abe convened a National Security Council meeting Friday to discuss the crash of a Malaysia Airlines plane carrying nearly 300 passengers and crew over eastern Ukraine.

His government plans to analyze information carefully as the Malaysia Airlines Boeing 777-200 is feared to have been shot down. U.S. media quoted U.S. intelligence sources as saying that the plane was brought down by a land-to-air missile.

---------- Japan's smartphone app operator Line applies for IPO in U.S.: report NEW YORK - Japanese smartphone messaging application operator Line Corp. has confidentially filed for an initial public offering in the United States, Bloomberg News reported Thursday, citing people with knowledge of the matter.

The move comes after the Tokyo-based subsidiary of South Korea's Naver Corp. applied for an IPO on the Tokyo Stock Exchange. The market capitalization of Line is expected to reach over 1 trillion yen.

---------- Japan's key bond yield briefly falls to 15-month low in morning TOKYO - The yield on the bellwether 10-year Japanese government bond fell briefly to its lowest intraday level in 15 months Friday morning on buying due to intensifying geopolitical risks including the crash of a Malaysia Airlines plane in Ukraine.

The yield on the No. 334, 0.6 percent issue, the main yardstick of long-term interest rates, ended morning interdealer trading at 0.530 percent, unchanged from Thursday's close, after dropping to 0.510 percent at one point.

---------- Tokyo stocks drop in morning on Ukraine, Mideast TOKYO - Tokyo stocks dropped Friday morning as a risk-averse mood spread among market participants due to the crash of a Malaysia Airlines plane in Ukraine and the escalating conflict in Gaza.

The 225-issue Nikkei Stock Average shed 167.71 points, or 1.09 percent, from Thursday to 15,202.55. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 10.82 points, or 0.85 percent, to 1,262.56.

---------- Malaysia Airlines plane with 298 aboard feared shot down in Ukraine KIEV - A Malaysia Airlines passenger plane crashed Thursday in a rebel-controlled area of eastern Ukraine, apparently killing all 283 passengers and 15 crew aboard, according to Ukrainian officials, as U.S. intelligence sources reportedly confirmed that the plane was downed by a surface-to-air missile.

U.S. Vice President Joe Biden said after talking with Ukrainian President Petro Poroshenko over the phone that Malaysia Airlines Flight 17, which was en route from Amsterdam to Kuala Lumpur, was apparently "shot down...blown out of the sky." ---------- Fujitsu to end chip production, sell plants to Taiwan, U.S. firms TOKYO - Fujitsu Ltd. will end its production of semiconductors by selling two main factories in Japan to Taiwanese and U.S. companies, sources close to the matter said Friday.

The major electronics firm is in talks with Taiwan's United Microelectronics Corp. and ON Semiconductor Corp. of the United States to sell the factories, the sources said.

(c) 2014 Kyodo News

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