Asia Top News and Analysis Japan

  • SEOUL, Oct 11- Seoul shares reversed some losses in early trade on Thursday, though investors remained worried about global growth. "The index is recovering from a week of losses, but its movement today will be limited as there is no new momentum," said Bae Sung- yung, an analyst at Hyundai Securities.

  • Bernanke and Maehara will be meeting on the sidelines of the semi-annual meeting of the International Monetary Fund and World Bank being held in Tokyo through Oct. 14.

  • TOKYO, Oct 11- Longer-dated Japanese government bonds slumped on Thursday ahead of a 30- year sale that was expected to meet firm demand in light of that sector's recent underperformance. *The Ministry of Finance is offering 700 billion yen of 30- year bonds with a coupon of 1.90 percent, matching that of the previous sale, which had drawn decent demand.

  • *S&P downgrades Spain; Brazil and South Korea cut rates. TOKYO, Oct 11- The IMF prodded the world's rich countries for swifter action on Thursday as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.

  • Bernanke and Maehara will be meeting on the sidelines of the semi-annual meeting of the International Monetary Fund and World Bank being held in Tokyo through Oct. 14.

  • *ING's first deal in Asia asset sell-off. HONG KONG/ AMSTERDAM, Oct 11- Pan Asian insurer AIA Group Ltd has agreed to buy ING's Malaysian insurance operations for $1.73 billion in cash, handing the Dutch financial services firm its first deal in a nine-month drive to sell off Asian assets.

  • Treasury prices were firm in Asia on Thursday after they rallied following a solid 10- year bond auction the previous day, as uncertainty over the global economic outlook pushed Wall Street shares to one-month lows.

  • TOKYO-- The head of the International Monetary Fund on Thursday called for urgent action to tackle Europe's debt problems and an approaching fiscal crisis in the U.S., warning that the struggling world economy is already falling short of even pessimistic expectations.

  • KUALA LUMPUR, Oct 11- The global economic doldrums may have weighed on businesses around the world, but in Malaysia a luxury hand-crafted carmaker struggles to keep up with demand as orders pour in from China and the Middle East.

  • MELBOURNE, Oct 11- Australian shares recovered from session lows to be down 0.3 percent on Thursday, paring steeper losses after data showed a jump in jobs in September and more people looking for work.

  • Yaskawa Electric Corp slipped 0.8 percent to 509 yen after J.P. Morgan lowered its price target on the electric motor maker to 575 yen from 660, citing weak market conditions. "While we think the company is likely to lower guidance when reporting 1 H results on Oct. 17, we expect only a limited negative reaction by the stock price," J.P. Morgan said in a report.

  • HONG KONG, Oct 11- These are some of the leading stories in Hong Kong newspapers on Thursday. --Poly Real Estate Group has acquired a commercial-residential block in Shanghai's centre for 4.5 billion yuan, the highest price for a site in the city this year.

  • KDDI Corp advanced 2.8 percent to 5,910 yen after J.P. Morgan lifted its price target on the mobile operator to 6,000 yen from 5,000, saying it expects improvement in earnings for the quarter ended September.

  • BANGKOK, Oct 11- Following is some company-related and market news which could have an impact on the local market on Thursday. --ADVANCED INFO SERVICE PCL, TOTAL ACCESS COMMUNICATION PCL, TRUE CORPORATION PCL. >Blue chips Chevron, Alcoa lead Wall Street's sell-off.

  • *Car parts maker Tokai Rika sags after Toyota recall. *Shin-Etsu Chemical rises after Nomura upgrade. TOKYO, Oct 11- Japan's Nikkei average fell to its lowest in two months on Thursday, losing ground for a third straight day on mounting concerns that upcoming quarterly corporate earnings will be weak after the U.S. results season got off a slow start.

  • Toray Industries Inc slipped 0.9 percent to 425 yen after Nomura Securities downgraded the synthetic fibre maker to' neutral' from' buy', saying demand for the company's products was unlikely to recover in the near term because of the delay in economic recovery in Asia.

  • TAIPEI, Oct 11- Taiwan stocks fell 1.28 percent on Thursday, underperforming regional bourses, with computer makers. The Taiwan market was closed on Wednesday for a holiday. The Taiwan dollar was up by T $0.053 to trade at T $29.346.

  • *ING's first deal in Asia asset sell-off. HONG KONG/ AMSTERDAM, Oct 11- Pan Asian insurer AIA Group Ltd has agreed to buy ING's Malaysian insurance operations for $1.73 billion in cash, handing the Dutch financial services firm its first deal in a nine-month drive to sell off Asian assets.

  • TOKYO, Oct 11- The IMF prodded the world's rich countries for swifter action on Thursday as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.

  • *BOJ board agreed recovery delayed "considerably"- minutes. TOKYO, Oct 11- Signs of considerable delay in Japan's economic recovery and weakening prices drove Bank of Japan policymakers into expanding monetary stimulus last month with some suggesting buying more risk assets or seeking ways to influence currency moves, minutes of the meeting showed.