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Japan’s Chief Is Stepping Down. Right here’s Who Would possibly Exchange Him.

TOKYO — When Prime Minister Yoshihide Suga announced on Friday that he would not seek re-election as head of Japan’s governing party, the decision created an unexpected opening to replace him.

The winner of a party leadership contest later this month will be a shoo-in to become the next prime minister. But it’s a job that may have few takers.

Mr. Suga leaves the Liberal Democratic Party facing its biggest crisis in over a decade. Japan’s vaccine rollout started slowly. Coronavirus case counts are at their highest levels of the pandemic. The economic recovery has been tepid. And the government has failed to articulate a clear path forward.

The public is angry “about the way that Covid-19 and its economic effects have been handled,” said Michael Cucek, an assistant professor of Asian studies at Temple University’s Japan campus.

There’s little chance that the L.D.P. will lose power, but it is almost certain to see its majority diminished, he said. That means that, as the party decides who will replace Mr. Suga, the priority is finding someone who can “stanch the bleeding.”

With rank-and-file party members afraid for their prospects in the lower house elections that are likely to be held next month, many will want to “take this opportunity to change the image of the L.D.P.,” said Jiro Yamaguchi, a professor of political science at Hosei University in Tokyo.

Standing in the way of that desire, however, are the entrenched interests of the party’s elite, who will be reluctant to hand power to a new generation, he said.

The outcome of the party election is likely to hinge, as always, on the results of horse trading and back-room deals among the various internal factions led by those insiders. Here are some of the candidates they are likely to consider.

Credit…Pool photo by Philip Fong

So far, only one person has officially announced an intention to run: Fumio Kishida, a former foreign minister. During a news conference on Tuesday outlining his platform, he sought to draw a bright line with Mr. Suga, pledging a more transparent and accountable style of government that would get the coronavirus firmly under control by early next year.

Mr. Kishida, 64, is a party insider, educated at the elite Waseda University, for whom politics is a family business: He got his start working in the office of his father, who represented the city of Hiroshima.

Over his years in politics, Mr. Kishida has held a wide range of cabinet positions and important roles in the L.D.P., but he is best known as the long-serving foreign minister under Shinzo Abe, Mr. Suga’s predecessor. He also briefly served as defense minister.

Last year, when Mr. Abe stepped down, Mr. Kishida was his favored successor. But rival factions within the L.D.P. opposed the pick, and Mr. Suga emerged as a compromise candidate.

Although Mr. Kishida seems the most likely choice of the old guard, Mr. Abe and other party grandees have not yet indicated whom they will support.

Mr. Kishida is unpopular among backbench lawmakers. “If the rank-and-file members are obedient to these bosses, then Mr. Kishida will get enough votes to replace Mr. Suga,” Mr. Yamaguchi, the political science professor, said. But if those members insist that the party needs a makeover, Mr. Abe and others will have to look elsewhere.

Credit…Koji Sasahara/Associated Press

If the L.D.P. is looking for a new face, it might turn to Sanae Takaichi, a conservative who is a darling of the Japanese right wing.

A former minister of internal affairs and telecommunications, Ms. Takaichi, 60, said on Friday that she would be interested in running for the top job, taking the opportunity to draw a contrast with Mr. Suga by dressing him down for what she called his indecisive leadership.

“She’s very conservative, and she tries to present herself as the idol of the right wing or conservative camp in the L.D.P., the true believers,” Mr. Yamaguchi said, adding that many in the party would be happy to line up behind her.

That said, Ms. Takaichi has no faction of her own, so she would need to clear the hurdle of getting 20 L.D.P. lawmakers to endorse her before she could run. The party, which has governed Japan for most of the postwar era, has never had a female leader.

“The Japanese public wants to see a female prime minister, but in the inside-party struggle, she has no base,” said Lully Miura, a political scientist and head of the Yamaneko Research Institute in Tokyo.

If Ms. Takaichi enters the race, Ms. Miura said, “she’s running in this election to become the top female candidate in the future,” hoping that the profile boost would give her an edge in the next leadership race.

Credit…Charly Triballeau/Agence France-Presse — Getty Images

Mr. Ishiba, 64, is a former defense minister popular among the public but disliked by L.D.P. lawmakers for his abrasive, populist style.

He twice ran against Mr. Abe, nearly beating him in the 2012 election, and was one of the leading contenders for Mr. Suga’s job during last year’s contest.

Mr. Ishiba has said he will take another shot at seizing the reins of the party, but it is not clear who would support him. Mr. Abe reportedly still holds a grudge against him, and the other faction leaders actively worked to foil him last year.

“He’s a borderline case in terms of a candidate. He can probably get the 20 signatures, but he’s not particularly well liked by the Diet members,” said Mr. Cucek of Temple University, referring to the Japanese Parliament.

Still, Ms. Miura argued that Mr. Ishiba may be the best positioned to challenge Mr. Kishida. Local party members, she said, are fans. “They want to win their election, and in order to win their election, they want the candidate that can win,” she said.

Credit…Kazuhiro Nogi/Agence France-Presse — Getty Images

Mr. Kono, 58, is a popular, charismatic figure with the right policy experience to be the next prime minister. But his current position as the minister in charge of the vaccine rollout could make it tough for him to win.

That’s partly because it will be hard for him to avoid responsibility for Japan’s missteps and partly because many will argue that he should be devoting his time and energy to combating the current crisis, not politicking.

But if Mr. Kono jumps in — he said on Friday that he was consulting with colleagues about the possibility — he could shake up the election. With a widely followed Twitter account and an easy, relatable style that contrasts with the traditional wooden affect of many Japanese politicians, he is seen as a leading contender to usher in a generational shift in the L.D.P.

“He’s well known for saying the right things to powerful politicians. So he is regarded as a brave challenger to old-style politics,” Mr. Yamaguchi said.

But the party might be better off having him wait to run until after the pandemic, when he would have an easier time marshaling support, Ms. Miura said.

If the party leadership lines up behind him during this election, it will be a sign that it is very worried about the L.D.P.’s political prospects, she said, adding, “He’s the last resort.”

Hisako Ueno, Makiko Inoue and Hikari Hida contributed reporting.

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Asia-Pacific shares set to drop; Japan’s retail gross sales information forward

SINGAPORE – Asia Pacific markets were mostly lower in early Friday trading. Meanwhile, US stocks rebounded, despite data showing that gross domestic product grew less-than-expected in the second quarter.

The Japanese Nikkei 225 lost 0.8% in early trading while the Topix lost 0.46%.

Reuters reported that the country’s industrial production rose 6.2% in June, up sharply after falling 6.5% in May. Retail sales in June were up 0.1% yoy, less than forecast for a 0.2% increase.

South Korea’s Kospi lost 0.55%.

The S & P / ASX 200 in Australia traded just above the flatline. Markets will be tracking the Covid situation in Sydney, which reported a record daily surge in Covid cases despite an extended lockdown on Thursday. Reuters reported that authorities have asked the military for help enforcing the lockdown.

MSCI’s broadest index for Asia Pacific stocks outside of Japan was unchanged.

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Shares rebounded during Thursday’s regular session in the US, although data showed US GDP rose 6.5% on an annualized basis in the second quarter, well below the 8.4% Dow Jones estimate.

The Dow Jones Industrial Average gained around 150 points on Thursday after hitting a new intraday high. The S&P 500, which also briefly hit an all-time high, ended the day up 0.4% at 4,419.15.

“Yesterday’s rebound in Chinese equities after the recent regulatory-induced sell-off resulted in solid performance overnight in risk assets,” said Rodrigo Catril, senior FX strategist at National Australia Bank.

Investors will watch as Chinese stocks end a week of volatile trading. Hong Kong’s Hang Seng index fell more than 8% in two days and rebounded 3% in Thursday’s session.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its competitors, stood at 91.880, falling from a level above 92 the previous day.

The Japanese yen was trading at 109.40 per dollar, up slightly from above 109.9 at the beginning of the week. The Australian dollar changed hands at $ 0.7394 after falling to around $ 0.735 earlier in the week.

Oil prices fell on the morning of Asian trading hours, with Brent crude oil futures falling 0.34% to $ 75.79 a barrel. US crude oil futures are down 0.42% to $ 73.33 a barrel.

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Critics Pounce on Naomi Osaka After Loss, Denting Japan’s Declare to Variety

TOKYO – Just four days after Naomi Osaka climbed the stairs to ignite the Olympic cauldron unveiled as a symbol of a new, more inclusive Japan, that image was undermined on Tuesday by a backlash following her surprise defeat in Tokyo.

Many Japanese were stunned by Ms. Osaka’s third-round loss to Czech Republic’s Marketa Vondrousova after winning the gold medal in women’s tennis on home soil.

But when the face of the Summer Games was riddled with scandals and anxiety over an unshakable pandemic – Tokyo reported a record number of new coronavirus cases on Tuesday – Ms. Osaka was beaten on Japanese social media, with some questioning her identity or right of representation represented the country at all.

“I still can’t understand why she was the last torchbearer,” one commenter wrote on a Yahoo News story of her loss. “Even though she says she is Japanese, she doesn’t speak much Japanese.” Several comments like this one that harshly criticized Ms. Osaka were given “thumbs up” by 10,000 or more other Yahoo users.

As the Japanese-born daughter of a Haitian American father and Japanese mother, Ms. Osaka helped challenge Japan’s longstanding sense of racial and cultural identity.

It’s hugely popular in Japan and some online commentators came out in favor of it on Tuesday. The news media covered her victories extensively, and her face appeared in advertisements for Japanese products ranging from Citizen watches to Shiseido makeup to Nissin cup noodles.

Her election as the final torchbearer at the opening ceremony on Friday showed how eager the Olympic organizers were to promote Japan as a diverse culture. Washington Wizards star Rui Hachimura, who is of Japanese and Benin descent, also played a major role as the standard bearer for the Japanese Olympic team. But in some corners of society, people remain xenophobic and refuse to accept those who do not adhere to a very narrow definition of Japanese.

“I was a little concerned that it might be a little too early and that there might be some kind of kickback,” said Baye McNeil, a black man who has lived in Japan for 17 years and who writes a column for the Japan Times , an English language newspaper.

Those who felt uncomfortable might have thought, “If we had to swallow this Black Lives Matters thing and the portrayal of the country, you could do the least thing to win the gold medal,” said Mr. McNeil of Ms. Osaka. “When she didn’t, some people are now unleashing her ugliness.”

Mixed race residents, or “Hafu” as they are called in Japan, still struggle to be accepted as authentic Japanese, even if they were born and raised in the country.

Melanie Brock, a white Australian who runs a consultancy for overseas companies looking to do business in Japan and who has raised two sons whose father is Japanese, said that even though they attended the Japanese school system, they were often viewed as different . Other mothers often attributed their problematic behavior to the fact that the boys were multiracial.

“I think Japan is very tough for Hafus,” said Ms. Brock.

When she saw Ms. Osaka light the kettle at the opening ceremony, “I thought it was a brave decision” from Tokyo organizers, she said. “But I was mad at myself because I thought it was brave. It’s not brave at all. That’s right. She is a remarkable athlete. She is a great Presenter and she deserves to be advertised as such. “

Ms. Osaka may also have touched some nerves when she pulled out of the French Open in May after an argument with tennis officials over her decision not to appear at a press conference. She then revealed on Instagram that she was struggling with depression and anxiety.

Updated

July 27, 2021, 7:42 p.m. ET

Much of the online comments in Japan after her loss on Tuesday were derogatory about her mental health.

“She conveniently became ‘depressed’, was comfortably cured, and was honored to be the last torchbearer,” wrote a commenter on Twitter. “And then she just loses an important game. I can only say that she takes the sport lightly. “

Mental health is still a taboo subject in Japan. Naoko Imoto, UNICEF education specialist, Tokyo Organizing Committee’s gender equality advisor and former Olympian who swam for Japan, said in a press conference Monday that mental health is not yet well understood in Japan.

“In Japan we still don’t talk about mental health,” said Ms. Imoto. “When Naomi Osaka came up on the subject, there were a lot of negative comments about her and that was exaggerated because of the gender issue as she is a woman.”

“I think a lot of athletes are coming out now, and it’s actually common, and almost every athlete experiences it,” Ms. Imoto said.

Some of the comments on Ms. Osaka seemed to reflect the conservative criticism of the Racial Justice Movement in the United States, which the tennis star has vociferously endorsed.

“Your selection as the last torchbearer was wrong,” wrote another commenter on the Yahoo News story of the loss of Ms. Osaka. “Was the theme of the Tokyo Games human rights issues? Should it show Japan’s recovery and show appreciation to the many countries that have supported Japan? BLM is not the issue. I don’t think she could focus on the game and she deserves her defeat. “

Nathaniel M. Smith, an anthropologist at Ritsumeikan University in Kyoto who studies right wing movements in Japan, said online critics could now copy from a global pool of comments.

“A Japanese online right-winger is aware that he is in the Twitter environment of Black Lives Matter, but also as whites criticize Black Lives on Twitter,” said Smith. “So there is this common digital repertoire of how to attack.”

But he added, “I think it’s pretty far from the sensitivity or awareness of the average television viewer, let alone the average person.”

In fact, some comments on social media were more supportive of Ms. Osaka. A post from someone who claimed not to be a fan showed gratitude for their appearance at the Olympics.

“Personally, I don’t particularly like Naomi Osaka, but let me say one thing,” the poster wrote on Twitter. “Thank you for playing as the representative of Japan. Thanks for your hard work! “

Hisako Ueno and Hikari Hida contributed to the coverage.

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Japan’s Various Olympic Stars Mirror a Nation That’s Altering (Slowly)

But Tokyo itself remains remarkably monochromatic. According to the city government, only about 4 percent of residents were born outside Japan – about twice as many as in the country. (In contrast, more than 35 percent of London and New York residents were born abroad.)

Marie Nakagawa, a former Senegalese-Japanese model, said she felt like a “foreigner” who grew up in Japan. Even today, she regularly endures shouts from men saying she is a doorbell for Ms. Osaka, whose advocacy for racial justice has forced the country to confront a problem that many here think does not apply to her.

Basics of the Summer Olympics

“I hear experts say all the time that things have changed since Naomi Osaka, but the tyrants are still the same,” Ms. Nakagawa said. “You weren’t reeducated.”

In 2019, when Ms. Osaka won her second Grand Slam at the Australian Open, Nissin featured her pale skin and brown hair in a marketing cartoon, leading to whitewash allegations.

“It’s obvious that I’m tanned,” Ms. Osaka replied. Nissin apologized.

Takeshi Fujiwara, a sprinter who specializes in the 400 meters, grew up in El Salvador, where his Japanese name raised his eyebrows. His mother is from there and his father is Japanese. Even after Mr. Fujiwara took part in the Olympic Games in Athens for El Salvador, the whispers about his nationality continued.

In 2013 he switched his loyalty to Japan and moved to his father’s homeland. The greeting was not immediate, he said, even if people commented positively on his “macho-macho” muscles.

“When I came to Japan, I thought, ‘Hey, I’m here in my country.’ They said, ‘Hey, where are you from?’ ”Said Mr. Fujiwara. “It’s gotten better, but we’re still a long way from a place where multiracial Japanese are considered normal.”

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Japan’s Yo-Yoing Financial system Shrinks as Virus Spreads and Vaccinations Lag

Japan’s economy contracted in the first three months of 2021 and continued to alternate between growth and contraction as the vaccination campaign threatened to hold back recovery from the pandemic, although other major economies appeared poised for rapid growth.

In about a year since the coronavirus emerged, Japan’s domestic demand has seen cycles of shrinking and expansion as coronavirus cases have risen and consumers have withdrawn indoors and then infections have receded and businesses have welcomed customers back to have.

Japan is currently experiencing a resurgence of virus cases with much of the country in a state of emergency and the number of deaths rising, particularly in Osaka. According to analysts, the yo-yo economic pattern is unlikely to stop until the country has vaccinated a significant portion of its population. These efforts have only just begun and are unlikely to accelerate significantly in the months ahead.

These dynamics could potentially drag the country back into recession – defined as two consecutive quarters of contraction – later this year as it struggles to control the spread of more deadly and contagious variants of coronavirus.

Japan’s economy, the third largest in the world after the US and China, contracted 1.3 percent from January to March, an annual decline of 5.1 percent. The contraction followed two consecutive quarters of expansion.

Growth skyrocketed in the second half of last year as consumers who had holed up at home for months to avoid the virus piled into department stores, restaurants, bars and theaters.

The recovery went a long way in getting the economy out of the huge hole that formed in the early months of the pandemic. However, as the new data shows, the turnaround is fragile and will be difficult to sustain as long as the country continues to face the threat from the virus.

“We are in a situation where we cannot relax until the vaccine is well distributed,” said Keiji Kanda, senior economist at the Daiwa Institute of Research in Tokyo.

In early 2020, when the pandemic hit, Japan’s economy was already battling headwinds from falling demand from China, a hike in consumption tax, and a devastating typhoon. When the country plunged into distress this spring, domestic consumption crumbled and exports fell to new lows.

The result was the biggest blow to the economy since 1955, when the country first began using gross domestic product to measure its growth.

Even so, the impact of the pandemic on Japan was relatively minor compared to the devastation in the US and many European countries. Japan has never been completely locked down and the total death toll remains below 12,000.

Updated

May 17, 2021, 6:24 p.m. ET

These factors, combined with – by some measures – the world’s largest stimulus measures, have kept the country’s unemployment rate low and propped up many small businesses such as restaurants and hotels.

While Japan’s pandemic response has managed to mitigate the worst of the economic damage, the recovery will continue to be an uphill battle, said Tomohiro Ota, senior economist at Goldman Sachs in Japan.

Trade has rebounded in recent months as some countries reopened, but “without a recovery in consumption we cannot go back to the days before Covid,” he said.

To achieve this goal, two steps forward and one step back had to be taken. Home consumption has increased in waves that increase and decrease as the number of cases increases.

Japan’s state of emergency last spring devastated domestic demand when people stashed at home. Consumption recovered briefly in summer and autumn. A similar upswing followed a second state of emergency in January.

Last month, authorities put the country in dire straits for the third time to review the spread of the coronavirus ahead of the Olympics, which are slated to begin in Tokyo in late July.

The latest round of restrictions only affects parts of the country, but also includes major metropolitan areas such as Tokyo and Osaka and is stricter than the previous one. Earlier iterations focused on shortening the opening times of bars and restaurants. In this version, for the first time, officials demanded that department stores restrict most services and that restaurants stop serving alcohol.

The economic impact of the measures will depend on the response of a public already tired of staying home, said Taro Saito, an executive research fellow at the NLI Research Institute in Tokyo.

“We cannot say with certainty that there will be a contraction between April and June,” he said because of the restrictions. But “if the target areas expand, this could put pressure on growth. The situation is very fluid. “

The stop-and-go pattern is likely to repeat itself for some time, said Izumi Devalier, Japan’s chief economist at Bank of America Merrill Lynch.

“The domestic economy continues to be affected by developments surrounding the virus,” Devalier said, adding that vaccination remained key to improving domestic demand.

Japan’s vaccine rollout was one of the slowest among major industrialized nations. Authorities have approved the use of only one vaccine, made by Pfizer and BioNTech, and strict regulations that require vaccinations to be given by doctors and nurses have slowed its spread. Just over 3 percent of the country has received an initial shot, and vaccines are unlikely to be made available to the general population until late this summer at the earliest.

“Japan is way behind other countries that were in their vaccination programs at the time,” Ms. Devalier said, adding that slow progress “simply delays recovery.”

Mr. Kanda of the Daiwa Institute of Research said, “If vaccination makes good progress, economic activity can basically resume from fall this year.”

But, he added, “if the current pace continues, we could see another explosion of infections.”

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Japan’s Nikkei 225 jumps greater than 1% because the second quarter kicks off

SINGAPORE – Asia Pacific stocks rose Thursday morning as the second quarter began with several economic data releases expected in the region.

The Japanese Nikkei 225 rose 1.24% in morning trading while the Topix index rose 0.67%. South Korea’s Kospi was also up 0.76%.

Australian stocks rose as the S & P / ASX 200 rose 0.32%.

MSCI’s broadest index for stocks in the Asia Pacific region rose 0.19%.

Economic data

A range of economic data will be released across the region on Thursday. The headline index for major manufacturers in the Bank of Japan’s quarterly Tankan Business Sentiment poll came in at 5, contrary to expectations of 0 in a Reuters poll.

Retail sales in Australia fell by a seasonally adjusted 0.8% month-on-month in February. This compares with expectations for a 1.1% decline in a Reuters poll.

The country also recorded a trade surplus of A $ 7.529 billion (about $ 5.71 billion) in February, compared with expectations for a trade surplus of A $ 9.7 billion, according to Reuters.

A private survey on China’s factory activity is also expected in March. The Caixin / Markit Manufacturing Purchasing Managers’ Index (PMI) is due to be released around 9:45 a.m. HK / SIN.

China’s official manufacturing PMI, released Wednesday, came in at 51.9, up from February’s 50.6. PMI values ​​above 50 represent expansion, while those below this value represent contraction. The PMI values ​​are sequential and represent a monthly expansion or contraction.

Overnight, the S&P 500 closed 0.36% higher at 3,972.89 while the Nasdaq Composite rose 1.54% to end its trading day at 13,246.87. The Dow Jones Industrial Average, on the other hand, fell 85.41 points to close at 32,981.55.

For the quarter, the Dow and S&P 500 gained 7.8% and 5.8%, respectively. The Nasdaq showed relative underperformance as technology stocks are particularly sensitive to rising interest rates due to their reliance on cheap money to invest in their future growth. Still, it rose 2.8% in the quarter.

Meanwhile, US President Joe Biden announced on Wednesday an infrastructure package worth more than $ 2 trillion. The goals of the plan include revitalizing American transportation infrastructure as well as manufacturing.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its peers, closed at 93.202 after a previous low of 93.188.

The Japanese yen was trading at 110.73 per dollar, still weaker than below 109.6 against the greenback earlier this week. The Australian dollar changed hands at $ 0.7585 after falling above $ 0.765 earlier in the week.

Oil prices were higher in Asia on the morning of trading hours and the international reference Brent crude oil futures rose 0.46% to $ 63.03 a barrel. The US crude oil futures also gained 0.51% to $ 59.46 a barrel.

Here’s a look at what’s on tap:

  • China: Caixin / Markit Manufacturing Purchasing Managers Index at 9.45am HK / SIN

– CNBC’s Yun Li contributed to this report.

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Japan’s Financial system Surges, however Covid-19 Looms

However, the last two quarters of the growth failed to offset the damage caused by the pandemic. The economy fell by 4.8 percent over the course of the year. This was the first annual decline since 2009, when the country suffered the aftermath of the global financial crisis.

Updated

Apr. 14, 2021, 6:09 p.m. ET

While the people of Japan don’t face the same short-term economic threat as the US, growth is expected to slow again in the first three months of this year.

After a sharp increase in the daily number of infections, Japan declared a second, albeit more limited, state of emergency in late December. The edict, originally announced for a month, was extended to early March, in part in response to the emergence of new, more contagious variants of the coronavirus.

“Because of the urgency, consumer spending, especially on services, will decrease in the first three months of the year,” said Akane Yamaguchi, an economist at the Daiwa Institute of Research.

However, she said the damage will not be nearly as severe as it was last spring, when lockdowns destroyed demand for exports and Japan’s national emergency spread across the country.

Japan has further complicated the economic picture for 2021 and has been slow to start vaccinating.

The Pfizer shot was the first to receive approval from Japanese regulators on Sunday. Frontline health workers are expected to get their first doses this week, but it will be months before the public comes into question.

The effects of the pandemic have been much less severe in Japan than in the west. The total death toll is below 7,000, and daily infection rates peaked at around 8,000 in early January. However, a solid vaccination program could give more people the confidence to return to shops and restaurants, said Nagahama of Dai-Ichi Life Research.

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Japan’s preliminary GDP knowledge forward; China, Hong Kong closed

SINGAPORE – Stocks in Japan should rise on Monday as several markets in North Asia closed for the New Year holidays.

Futures indicated a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 29,725 while its Osaka counterpart was at 29,590. This is compared to the Nikkei 225’s last closing price at 29,520.07.

Japan’s preliminary pressure on fourth quarter gross domestic product is expected around 7:50 a.m. HK / SIN.

Australian stocks rose in morning trade, with the S & P / ASX 200 up around 0.8%.

The markets in China, Hong Kong, Taiwan and the USA are closed on Mondays for public holidays.

Currencies

The US dollar index, which tracks the greenback against a basket of its peers, stood at 90.422 after weakening against the 91.2 handle earlier this month.

The Japanese yen was trading at 104.98 per dollar, weaker than below 104.8 against the greenback last week. The Australian dollar was trading at $ 0.7766 after rising below $ 0.772 last week.

Here’s a look at what’s on tap:

  • Japan: Preliminary gross domestic product data for the fourth quarter at 7:50 a.m. HK / SIN