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Japan exports fall at fastest pace since financial crisis on strong yen

Japan's exports tumbled in July at the fastest pace since the global financial crisis with a resurgent yen and weakness in overseas economies weighing on overseas shipments - leaving the economy and the government more reliant on shaky domestic demand to drive growth.

The 14.0 percent annual decrease in exports in July matched the median estimate in a Reuters poll of economists and was the fastest decline since October 2009.

Japan's exports have now fallen for 10 consecutive months, the longest losing streak since losses on U.S. subprime mortgages sparked a global financial crisis that almost destroyed the U.S. financial system.

Economists say there is a growing risk that weakness in exports will persist as global economic uncertainty shows little sign of receding, which could undermine Japanese policymakers' efforts to re-energise the economy.

China July home prices showing signs of fatigue

China home prices rose 0.8 percent in July nationwide, but stalled or fell in more cities than in June, adding to concerns that one of the economy's key growth drivers is losing steam but offering some relief for policymakers worried about property bubbles.

A robust recovery in home prices and sales gave a stronger-than-expected boost to the world's second-largest economy in the first half of the year, helping to offset stubbornly weak exports.

However, some analysts say slowing price growth and weakening property investment suggest the rebound may have peaked, as more local governments tighten restrictions on home purchases in a bid to keep fast-rising prices in check.

Average new home prices in China's 70 major cities rose 7.9 percent in July from a year earlier, an official survey showed on Thursday, accelerating from a 7.3 percent increase in June.

Monthly trends, however, painted a somewhat weaker picture.

Oil prices rise as potential supply cuts remain in focus

Oil prices rose on Thursday, with Brent topping $50 a barrel for the first time in six weeks, as traders continued to talk up the potential for an output cut agreement at a meeting of OPEC and non-OPEC producers next month.

Brent crude oil futures were trading at $49.93 per barrel at 0750 GMT, up 8 cents, after earlier rising as high as $50.05 a barrel.

West Texas Intermediate (WTI) crude futures were trading at $47.10 a barrel, up 31 cents.