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Japanese yen gains against dollar Original Source Link: (May no longer be active)    http://quote.bloomberg.com/apps/news?pid=10000101&sid=aGrY.AXhH2TM&refer=japan http://quote.bloomberg.com/apps/news?pid=10000101&sid=aGrY.AXhH2TM&refer=japan Japanese Bonds May Rise as Strengthening Yen Deepens Deflation Aug. 11 (Bloomberg) -- Japanese benchmark bonds may gain for a fourth day as the yen's advance against the dollar will help push import prices lower, fueling deflation and preserving the value of debt's fixed payments. The yen rose about 1 percent against the dollar last week. A stronger currency may also squeeze profits on exports, which accounted for about half of economic growth in the fourth quarter. ``The strong yen is good for the Japanese government bond market,'' said Xinyi Lu, Tokyo-based chief strategist at UFJ Bank Ltd., the banking unit of the nation's fourth-largest lender. ``No one believes deflation in the economy will disappear.'' Ten-year bond futures for September delivery rose to 142.15 on the London International Financial Futures Exchange from 142.12 at the 3 p.m. close in Tokyo Friday. The contract will open for trading at 9 a.m. Tokyo time. The 1 percent bond due in 2013 rose on Friday, pushing its yield down 3 basis points to 0.87 percent, according to Japan Bond Trading Co. A basis point is 0.01 percentage point. Nationwide prices excluding fresh food fell 0.4 percent in June from a year earlier and haven't risen since April 1998. Deflation bolsters the value of debt's fixed payments. The yen traded at 119.03 to the dollar as of 7:15 a.m. in Tokyo. It gained 1.1 percent to 118.96 in New York trading on Thursday. Last Updated: August 10, 2003 18:23 EDT

Asia bankers gear up china stock deals { August 28 2003 } Asian stocks slide india halted { April 2004 } Bank of japan predicts continued deflation China gdp 20 percent bigger than expected { December 13 2005 } China losing protections for poor { January 15 2006 } China raises interest rates for first time in 9 years China replaces us { June 28 2002 } China says 2005 surplus near 102 billion China toy sweat shops China widens role in latin america { November 20 2004 } Downgrade for japanese economy Economic damage seen in asia after terror Foreign direct investment in china hits records India buys 1b in asian bonds Japan 18yr low { September 2 2002 } Japan 19yr low Japan europe concerned for dollar slide Japan markets two days plunge { January 19 2006 } Japan pursuing weak yen policy { August 27 2003 } Japan vm prefers bonds local currency { August 15 2003 } Japanese stocks plunge april 2005 { April 18 2005 } Japanese yen gains against dollar Rural healthcare dies as china wealth grows { January 14 2006 } Tokyo nikkei 20 yr low { April 11 2003 } Tokyo stocks fall 5 percent Files Listed: 25

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