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Japan current account surplus up 4.2% in August
by Staff Writers
Tokyo (AFP) Oct 9, 2012



Japan's current account surplus expanded 4.2 percent in August from a year earlier, official data showed Tuesday, the first monthly rise since last year's quake-tsunami disaster and nuclear crisis.

The surplus in the current account, the broadest measure of Japan's trade with the rest of the world, stood at 454.7 billion yen ($5.8 billion) in August, the finance ministry said, slightly beating market expectations.

That was the first monthly expansion since February 2011, a positive sign for Japan's economic recovery after last year's March 11 disasters triggered the worst nuclear accident in a generation.

The latest monthly reading was higher than forecasts by economists surveyed by Dow Jones Newswires and the Nikkei business daily, who estimated a surplus of 442.0 billion yen.

But export weakness remained a risk to the world's third-largest economy as a slowdown in the global economy and a strong yen weighed on demand for Japanese products overseas, analysts said.

The current account measures trade in goods, services, tourism and overseas income.

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China auction house holds first sale in Hong Kong
Hong Kong (AFP) Oct 7, 2012
China's oldest auction house held its first sale in Hong Kong Sunday, underscoring an intensified competition between Chinese auctioneers and their foreign rivals in the booming art market. Over 300 collectors packed the auction hall at the one-day sale by China Guardian, which offered more than 300 Chinese paintings and calligraphy including works from renowned artists Zhang Daqian and Qi B ... read more


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