JAPAN: ‘ Taxpayers pay increased #Fukushima compensation bill though #TEPCO profits rise ‘

#AceFinanceNews – JAPAN:July.29: Japan on Tuesday approved an increase in compensation payments for the Fukushima disaster to 7.07 trillion yen ($57.18 billion), Reuters said.

Tokyo Electric Power Co (Tepco), the operator of the wrecked Fukushima Daiichi nuclear station, will receive 950 billion yen more in public funds, on top of the 6.125 trillion yen agreed earlier, according to the utility and the government.

The increase was agreed after a request by Tepco, and it adds to the bill for taxpayers for the disaster in March 2011.

Tens of thousands of evacuees still remain in temporary housing.

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What a China selloff may mean for U.S. investors

Peace and Freedom

China’s stock market:

It’s not just about the market rout. It’s about a structural shift to slower growth.By Fidelity Viewpoint

After a year of flying high, stocks in China’s markets have sold off dramatically in recent weeks. The drop contributed to volatility in bond and currency markets, and is another sign of stress in the world’s second largest and formerly fastest-growing economy.

The rally in Chinese stock prices through the first few months of 2015 had made it one of the best performing markets in the world, but the markets have since entered bear market territory. (See chart right.) Chinese policymakers have taken a series of measures that attempt to calm the markets. But the episode sheds light on China’s…

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Article: No need for us to confirm, WSJ’s 1MDB articles are clear enough, Dow Jones tells PM ’s lawyers

#AceNewsReport – July.29: No need for us to confirm, WSJ’s 1MDB articles are clear enough, Dow Jones tells PM’s lawyers:

http://www.themalaymailonline.com/malaysia/article/no-need-for-us-to-confirm-wsjs-1mdb-articles-are-clear-enough-dow-jones-tel

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#GREECE: ‘ Bourse to reopen Wednesday or Thursday after ECB approval – regulator

#AceMarketsReport – July.29: ATHENS (Reuters) – The Greek stock market will reopen on Wednesday or Thursday after a month-long shutdown but with restrictions on trading by local investors at the request of the European Central Bank, the Greek securities regulator chairman told Reuters on Tuesday.

The Athens Stock Exchange (ASE) has been shut since June 29, after the government closed its banks and imposed capital controls to prevent them from collapsing in the face of mass withdrawals.

Greece sent a first proposal to the ECB last week to reopen the stock market as soon as possible because it risked its place in global securities indexes if it remained closed for too long.

But the process was delayed because the ECB wanted assurances that Greek investors would not pull money out of banks to convert them to shares or bonds, putting a further strain on the country’s struggling lenders which depend on the ECB’s emergency funding (ELA) to remain afloat.

On Tuesday, Greece gained the European Central Bank’s approval to reopen its stock market with no restrictions for foreign investors but with limitations for local ones.

“The commission will convene tomorrow morning to decide if the Athens Stock Exchange will reopen on Wednesday or Thursday,” the chairman of Hellenic Capital Market Commission Konstantinos Botopoulos told Reuters.

A ministerial decree on the bourse’s operations is expected to be issued, opening the way for trading.

Greek regulators on Monday offered the ECB two plans for the re-opening: one allowing unrestricted trading, the same as proposed last week, and a second that imposed restrictions on trading by Greek investors to prevent capital fleeing banks, sources said earlier.

Botopoulos said the ECB approved the second plan. “What we have won in the negotiations is that the restrictions will last for a limited period of time,” he said.

WHAT HAPPENS?

A European official said the process for the reopening of the market was delayed due to fears that it could result in a crash, as well as continued uncertainty about Greece’s political future and that of its banks.

“What nobody knows is what happens if you reopen. Is there going to be dumping of Greek assets? No one can say that everything is under control,” the official said.

A senior official at the regulator said local investors would be allowed to buy shares by using existing cash, such as that stored at home for security in the face of the crisis or money transfers from abroad, and not by withdrawing money from their Greek bank accounts.

Some market participants had warned that unlimited trading for domestic investors would have posed a serious risk for lenders.

“The problem is that if the trading starts without restrictions, then many Greeks could withdraw their deposits and turn them into shares or bonds,” Takis Zamanis, chief trader at Athens-based brokerage Beta Securities, told Reuters.

The European Securities and Markets Authority (ESMA) said a ban on the short selling of Greek shares, as requested by the Greek securities regulator, would remain in place. The ban, which also affects electronic trading of Greek government bonds, is set to stay in effect until Aug. 3.

Greece’s main equity index was down 16 percent from its 2015 peak, hit in February, when the bourse was shut down.

FTSE Russell, which compiles indexes across major asset classes, said last week it was retaining Greece securities in its indices for another 10 business days to see if the Greek bourse reopened.

(Additional reporting by John O’ Donnell and John Geddie; Writing by Angeliki Koutantou; Editing by Janet Lawrence)

Greek bourse to reopen Wednesday or Thursday after ECB approval – regulator

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MARKETS: ‘ Asia stocks edge up, markets hushed for Fed ‘

#AceMarketsNews – SYDNEY (Reuters) July.29: Asian shares clung to modest gains on Wednesday on hopes that Beijing could stem the rout in its markets without damage to the economy, while caution ruled elsewhere ahead of a policy decision from the U.S. Federal Reserve.

The major European markets were also expected to open higher, while the calmer mood prompted a bounce in some hard-beaten commodities including copper.

While China’s main indexes could not sustain an early rally neither were they much lower, a relief after Monday’s 8 percent plunge. The CSI300 index of the largest listed companies in Shanghai and Shenzhen was off 0.7 percent, while the Shanghai Composite slipped 1 percent.

Sentiment has been soothed a little by pledges from Chinese regulators to buy shares to stabilise stocks if needed and hints of more policy easing from the central bank.

The steadier tone was enough to lift Australia’s main index 0.9 percent, while MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent.

Japan’s Nikkei eased 0.3 percent, hit by sharp falls in Fanuc Corp and Tokyo Electron. [.T]

On Wall Street, the Dow had ended on Tuesday with gains of 1.09 percent, while the S&P 500 rose 1.24 percent and the Nasdaq 0.98 percent. [.N]

Not faring so well was Twitter, which sank 11 percent in extended trade after the microblogging company said its monthly average users grew at the slowest pace since it went public in 2013.

The Fed ends a two-day policy meeting later on Wednesday with markets divided on whether it will take a hawkish or dovish stance, while some suspect it might chose to do neither. No move on rates is expected this week.

In recent congressional testimony, Fed Chair Janet Yellen neither ruled out a September hike nor guided the market toward thinking it was a done deal.

“We think the upcoming FOMC statement will reflect this non-committal approach,” said Tom Porcelli, chief U.S. economist at RBC Capital Markets.

“In other words, there will be no explicit tweak to the guidance signalling a hike is imminent.”

At most, the Fed might sound a little more positive on the economy and describe risks to the outlook as balanced rather than “nearly” balanced, Porcelli added.

In currency markets, investors seemed to decide it was safer not to be actively short of the U.S. dollar ahead of the policy statement at 1800 GMT.

That kept the dollar steady at 123.45 yen, from a low of 123.04 on Tuesday, while the euro softened to $1.1052.

Against a basket of currencies, the dollar was off 0.1 percent at 96.716.

In energy markets, oil prices were subdued ahead of official data on U.S. stockpiles. [O/R]

Brent futures were down 24 cents at $53.06 a barrel and near their lowest since February. U.S. crude futures slipped 22 cents to $47.76 a barrel.

(Editing by Kim Coghill and Jacqueline Wong)

Asia stocks edge up, markets hushed for Fed

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