• The dollar eased versus the yen on Monday, as traders worried that a suspected cronyism scandal in Japan involving the sale of state-owned land could dampen investors’ risk appetites.
The name of Japanese Prime Minister Shinzo Abe’s wife was removed from documents regarding the suspected cronyism scandal, media said on Monday, as pressure mounted on the premier and his ally Finance Minister Taro Aso over a possible cover-up.
Abe has repeatedly denied he or his wife did favours for school operator Moritomo Gakuen, which bought the land in question, and has said he would resign if evidence were found that they had.
The dollar eased 0.2 percent to 106.62 yen, edging away from a one-week high of 107.05 yen set on Friday following news of higher-than-expected U.S. jobs growth in February.
The euro edged up 0.1 percent to $1.2322, but was still some ways below a near three-week high of $1.2447 set on Wednesday.
• North Korea’s silence on its upcoming summits with the United States and South Korea is likely due to caution over organising its stance regarding the meetings, South Korea’s Ministry of Unification said on Monday.
“We have not seen nor received an official response from the North Korean regime regarding the North Korea-U.S. summit,” said Baik Tae-hyun, spokesman for the ministry, in a regular press conference.
“I feel they’re approaching this matter with caution and they need time to organise their stance.”
• China removed presidential term limits from its constitution on Sunday, giving President Xi Jinping the right to remain in office indefinitely, and confirming his status as the country’s most powerful leader since Mao Zedong died more than 40 years ago.
China’s ruling Communist Party announced the proposed amendment only last month and there was never any doubt it would pass as parliament is packed with loyal party members who would not have opposed the proposal.
• South Korea will “deploy all possible means” to respond to U.S. President Donald Trump’s decision to impose tariffs on steel and aluminium imports, the country’s finance minister said on Monday.
• Companies in Britain and the European Union face an extra billion pounds in annual costs if there is a no-deal Brexit, with Britain’s vast financial sector set to be the worst-hit industry, according to a report on Monday.58
Firms across the EU’s 27 countries other than Britain will have to pay 31 billion pounds a year in tariff and non-tariff barriers if Britain leaves the bloc without a deal, the report by Oliver Wyman management consultants and law firm Clifford Chance said.
In return, British exporters to the EU will have to pay 27 billion pounds a year.
• Chris Liddell, a former executive at Microsoft Corp (MSFT.O) and General Motors Co (GM.N), is under consideration to become U.S. President Donald Trump’s top economic adviser, a White House official said on Sunday, confirming media reports.
Trump is searching for a new director for the White House National Economic Council after Gary Cohn, a former Goldman Sachs (GS.N) president, said he would resign. Cohn’s decision came after Trump decided to put tariffs on steel and aluminium imports.
Peter Navarro, a trade adviser to Trump who promoted the tariffs, has also been touted as a candidate for the top economic job, though he has said he is not in the running. Conservative commentator Larry Kudlow has also been cited as a contender.
• U.S. Defense Secretary Jim Mattis said on Sunday he will not publicly discuss issues related to North Korea, deferring to diplomats and the White House, ahead of a proposed meeting between President Donald Trump and North Korea’s leader, Kim Jong Un.
Mattis said the situation was simply too sensitive for comment by officials in places such as the Pentagon, which is not directly involved in the diplomatic outreach.
• Japanese Finance Minister Taro Aso said on Monday he had no intention to resign over revelations that documents related to a state land sale were altered.
• Oil prices gave up earlier gains on Monday as rising U.S. output loomed over markets, despite a slowdown in rig drilling activity.
U.S. West Texas Intermediate (WTI) crude futures were at $61.90 a barrel at 0714 GMT, down 14 cents, or 0.2 percent.
Brent crude futures were at $65.36 per barrel, down 13 cents, or 0.2 percent, from their previous close.
Reference: Reuters,CNBC
Thai
Eng