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Asia Top News and Analysis Japan

  • ZAGREB, Oct 10- Croatia will choose by next April its strategic partner in the construction of a 500- megawatt thermal power plant in the northern Adriatic, Deputy Prime Minister Radimir Cacic said on Wednesday. The bidders were Italy's Edison, KOSEP from South Korea, Marubeni from Japan and Poland's POL-MOT.

  • HONG KONG/ SINGAPORE, Oct 10- AIA Group Ltd. AIA was in the lead to buy both the Malaysian and Thai units of ING, sources familiar with the matter told Reuters in early September. However, ING is now bundling the Thai unit with its much larger Japan and Hong Kong operations and selling that group to another suitor, the sources said.

  • Indeed the reception to the four deals that priced last night by Sunac China, United Overseas Bank, Syndicate Bank and Lifestyle suggest that there is still an enormous pool of funds that have to be put to work with only three months left of 2012..

  • SINGAPORE, Oct 10- Honam Petrochemical Corp has bought 75,000 tonnes of naphtha at about $13 to $14 a tonne above Japan quotes on a cost-and-freight basis, the highest premiums paid in South Korea in about 3-1/ 2 weeks, traders said on Wednesday. It operates another 1 million tpy cracker in Yeosu, making it the largest ethylene operator in South Korea.

  • Britain's FTSE 100 fell 0.3 percent to 5,792.95. Stock markets in Asia also posted losses, with the exception of mainland China, where shares rose a day after posting big gains on hopes that Chinese authorities were preparing sizeable steps to help reverse the decline in growth in the world's second-largest economy.

  • NEW DELHI, Oct 10- Russia delayed delivery of a trouble-plagued aircraft carrier for at least a year on Friday, a blow to India's efforts to quickly build up naval strength as increasingly assertive Asian rival China expands its maritime reach.

  • TOKYO, Oct 10- Japan Advisory will have the opportunity to challenge insider trading charges against the Tokyo- based hedge fund at a hearing on Oct. 17, the country's financial regulator said on its website on Wednesday.

  • Nikkei Business Report

    Toyota says it will recall about 2.4 million cars in the U.S., 1.4 million in China and nearly 1.4 million in Europe - the biggest single recall since 1996, the Nikkei's Nozomu Kitadai reports.

  • *FTSE 100 down 0.2 percent, yo-yoing around 5,800. LONDON, Oct 10- Britain's top shares edged lower on Wednesday, tracking falls on Wall Street and in Asia on concerns over the global growth outlook, although gains in heavyweight miners and banks provided a floor under the FTSE 100 index around the 5,800 level. At 0805 GMT, the FTSE 100.

  • TOKYO, Oct 10- Japan's Toyota Motor Corp announced a massive recall on Wednesday to fix malfunctioning power window switches, saying it will pull back 7.43 million vehicles worldwide in the biggest single recall since 1996, performed by Ford Motor Co. The recall primarily affects cars in the United States, China and Europe.

  • TOKYO, Oct 10- Japan Advisory will challenge an insider trading charge against the Tokyo- based hedge fund at a hearing on Oct. 17, according to a notice on the website of Japan's financial regulator.

  • SENDAI, Japan, Oct 10- World Bank President Jim Yong Kim said on Wednesday he had great faith that Japan and China would find a way to cooperate in the future, amid a deterioration in relations between the two countries due to a territorial dispute.

  • TOKYO, Oct 10- Japan's Toyota Motor Corp announced a massive recall on Wednesday to fix malfunctioning power window switches, saying it will pull back 7.43 million vehicles worldwide in the biggest single recall since 1996, performed by Ford Motor Co. The recall primarily affects cars in the United States, China and Europe.

  • *SK Hynix slides after peer Intel's downgrade. SEOUL, Oct 10- South Korean shares retreated, led by a slump for Samsung Electronics following brokerage downgrades of Intel that sparked a sell-off of U.S. technology firms overnight.

  • BEIJING, Oct 10- Vehicle sales in China fell 1.8 percent in September from a year earlier, as Japanese automakers' sales collapsed, adding to downward pressures from a slowing economy and rising fuel costs that have weighed on the world's biggest auto market.

  • Oct 10-=============================================================================== Summary analysis-- Sharp Corp.----------------------------------- 10- Oct-2012=============================================================================== CREDIT RATING: BB+/ Watch Neg/B Country: Japan Primary SIC: Household appliances, nec Mult. CUSIP6: 819882=============================================================================== Credit Rating History: Local currency Foreign currency 31- Aug-2012 BB+/ B BB+/ B 03- Aug-2012 BBB/A-2 BBB/A-2 03- Feb-2012 BBB+/ A-2 BBB+/ A-2 11- May-2011 A-/A-2 A-/A-2=============================================================================== Rationale.

  • BEIJING, Oct 10- Vehicle sales in China fell 1.8 percent in September from a year earlier as Japanese automakers' sales collapsed, adding to downward pressures from a slowing economy and rising fuel costs that have weighed on the world's biggest auto market.

  • BEIJING, Oct 10- Vehicle sales in China fell 1.8 percent in September from a year earlier as Japanese automakers' sales collapsed, adding to downward pressures from a slowing economy and rising fuel costs that have weighed on the world's biggest auto market.

  • TOKYO, Oct 10- Mitsubishi Motors Corp said on Wednesday that one or more shareholders had converted 5,300 preferred shares into 74.6 million new common shares at 71 yen per share, or worth 5.3 billion yen since the start of October.

  • *Toyota falls on vehicle recall, China sales slump. *Tokyo Electron rises after Q2 orders beat expectations. TOKYO, Oct 10- Japan's Nikkei average shed 2 percent to hit a two-month closing low on concerns that coming corporate earnings will be hurt by sluggish global growth, as the IMF cut its forecasts for the second time since April.