Jumat, 08 Juli 2022

Shinzo Abe, former Japanese prime minister, dies after being shot during election campaign - Reuters.com

NARA, Japan, July 8 (Reuters) - Former Prime Minister Shinzo Abe, Japan's longest-serving leader, died on Friday after being shot while campaigning for a parliamentary election, an official from his political party said.

A man opened fire on Abe, 67, from behind with an apparently homemade gun as he spoke at a drab traffic island in the western city of Nara, Japanese media showed earlier.

It was the first assassination of a sitting or former Japanese premier since the days of prewar militarism in the 1930s.

Speaking before Abe's death was announced, Prime Minister Fumio Kishida condemned the shooting in the "strongest terms" while Japanese people and world leaders expressed shock at the violence in a country in which political violence is rare and guns are tightly controlled.

"This attack is an act of brutality that happened during the elections - the very foundation of our democracy - and is absolutely unforgivable," said Kishida, struggling to keep his emotions in check.

A fire department official had said Abe appeared to be in a state of cardiac arrest when airlifted to hospital.

Police said a 41-year-old man suspected of carrying out the shooting had been arrested. NHK quoted the suspect, identified as Tetsuya Yamagami, as telling police he was dissatisfied with Abe and wanted to kill him.

Reuters Graphics

Abe was making a campaign speech outside a train station when two shots rang out at about 11:30 a.m. (0230 GMT). Security officials were then seen tackling a man in a grey T-shirt and beige trousers.

"There was a loud bang and then smoke," businessman Makoto Ichikawa, who was at the scene, told Reuters, adding that the gun was the size of a television camera.

"The first shot, no one knew what was going on, but after the second shot, what looked like special police tackled him."

TRANSFUSIONS

Earlier, Kyodo news service published a photograph of Abe lying face-up on the street by a guardrail, blood on his white shirt. People were crowded around him, one administering heart massage.

Nara emergency services said he had been wounded on the right side of his neck and left clavicle. His brother, Defence Minister Nobuo Kishi, had said Abe was getting blood transfusions.

NHK showed live footage of Abe's wife, Akie, on her way by train to the hospital where he was being treated.

Airo Hino, political science professor at Waseda University, said such a shooting was unprecedented in Japan. "There has never been anything like this," he said.

Senior Japanese politicians are accompanied by armed security agents but often get close to the public, especially during political campaigns when they make roadside speeches and shake hands with passersby.

In 2007, the mayor of Nagasaki was shot and killed by a yakuza gangster. The head of the Japan Socialist Party was assassinated during a speech in 1960 by a right-wing youth with a samurai short sword. A few other prominent postwar politicians were attacked but not injured.

Police said the suspected shooter was a resident of Nara. Media said he had served in Japan's military for three years until 2005. Defence Minister Kishi declined to comment on that.

Abe served two terms as prime minister, stepping down in 2020 citing ill health. But he has remained a dominant presence over the ruling Liberal Democratic Party (LDP), controlling one of its major factions.

Kishida, Abe's protege, had been hoping to use the election to emerge from Abe's shadow and define his premiership, analysts have said. Kishida suspended his election campaign after the shooting. All main political parties condemned the attack.

'VERY, VERY SAD'

Speaking before Abe's death was announced, U.S. Secretary of State Antony Blinken expressed deep concern over his condition.

"Our thoughts, our prayers are with him, with his family, with the people of Japan," Blinken said on the sidelines of a G20 meeting on the Indonesian island of Bali.

The United States is Japan's most important ally.

The yen rose and Japan's Nikkei index (.N225) fell on news of the shooting, partially driven by a knee-jerk flight to safety.

Abe is best known for his “Abenomics” policy of aggressive monetary easing and fiscal spending. read more

He also bolstered defence spending after years of declines and expanded the military’s ability to project power abroad.

In a historic shift in 2014, his government reinterpreted the postwar, pacifist constitution to allow troops to fight overseas for the first time since World War Two.

The following year, legislation ended a ban on exercising the right of collective self-defence, or defending a friendly country under attack.

Abe, however, did not achieve his goal of revising the U.S.-drafted constitution by writing the Self-Defense Forces, as Japan’s military in known, into the pacifist Article 9.

Abe first took office in 2006 as Japan’s youngest prime minister since World War Two. After a year plagued by political scandals, voter outrage at lost pension records, and an election drubbing for his ruling party, Abe quit citing ill health.

He became prime minister again in 2012.

Abe hailed from a wealthy political family that included a foreign minister father and a grandfather who served as premier.

Reporting by Satoshi Sugiyama in Nara, Chang-Ran Kim in Tokyo; Additional reporting by Reuters staff; Writing by Robert Birsel; Editing by William Mallard

Our Standards: The Thomson Reuters Trust Principles.

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2022-07-08 09:13:00Z
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China economy recovering but foundation not solid: Premier Li Keqiang - CNA

BEIJING: China's economy is recovering but the foundation of that recovery is not solid and more efforts are still needed, Premier Li Keqiang was quoted by state media as saying on Thursday (Jul 7).

The world's second-largest economy has started a slow recovery from the supply shocks caused by extensive lockdowns since the second quarter, although headwinds to growth persist.

"At present, the economy is recovering, but the foundation is unstable. Hard work is needed to stabilise the economy," Li was also quoted as saying during a meeting with senior officials from Shanghai, Guangdong, Fujian, Jiangsu and Zhejiang.

More efforts will be made to boost enthusiasm of officials at both central and local levels and keep the economy operating within a reasonable range, Li said.

Shanghai and the four provinces account for over a third of China's economy, and play a key role in the central government's transfer payments to poorer regions given their fiscal revenues account for nearly 40 per cent of the total, Li said.

The country's most affluent regions are also vital in absorbing migrant workers and underpinning their incomes, Li said.

China will continue to promote reforms and improve the business environment, and will keep opening up its economy to the outside world no matter how the international situation changes, Li added.

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2022-07-07 11:46:00Z
CBMicWh0dHBzOi8vd3d3LmNoYW5uZWxuZXdzYXNpYS5jb20vYnVzaW5lc3MvY2hpbmEtZWNvbm9teS1yZWNvdmVyaW5nLWZvdW5kYXRpb24tbm90LXNvbGlkLXByZW1pZXItbGkta2VxaWFuZy0yNzk0NTMx0gEA

Kamis, 07 Juli 2022

Buy the dip in China markets despite Covid concerns, says Bank of America Securities - CNBC

Short-term corrections in the Chinese stock markets can be a buying opportunity for investors, says a strategist from Bank of America Securities.

Winnie Wu, a China strategist at the investment bank, acknowledged that there's still a potential volatility from China's evolving Covid situation, and there could be more bad news ahead if Covid cases rebound or real estate companies default on their debt.

"But you know, generally speaking, looking at the bigger picture, the worst in terms of corporate earnings, the disruptions, Covid cases — those should be behind us in the second quarter already," she told CNBC's "Street Signs Asia" on Wednesday.

Wu pointed to recent announcements such as reduced quarantines for international visitors to China.

"China is sticking to the zero-Covid policy, but we've seen some changes," she said, adding that she hopes the authorities would try to minimize disruption to the daily lives of residents.

"Even though we are seeing some rebound in Covid cases, [and] we've seen a few more cities start to do this mass testing, ... I doubt we'll go back to that extended lockdown like we've been through in second quarter," she said.

Shanghai is conducting Covid testing in several districts this week after detecting new Covid cases, a statement on the city's WeChat account said.

Wu also pointed to Bank of America Securities' so-called "wax-and-wane indicator" which measures sentiment based on factors such as investment flows to predict the outlook for China's markets.

We advise investors to ride on the rally and to take these short-term corrections as buying opportunities.
Winnie Wu
China strategist at Bank of America Securities

That indicator is currently in the very bullish zone. During backtesting, the very bullish zone signaled a 100% chance that the CSI 300 index will rise in the near term, with median returns in the following two to six months in the high teens, she said.

"So we stay positive. We advise investors to ride on the rally and to take these short-term corrections as buying opportunities," she said.

Mainland China markets have outperformed major global indexes in the past month, but traded lower on Wednesday.

The Shanghai Composite closed 1.43% lower on Wednesday, while the Shenzhen Component fell 1.25%. The CSI 300 index, which tracks the largest mainland-listed stocks, shed 1.46% that day.

— CNBC's Evelyn Cheng contributed to this report.

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2022-07-07 05:21:21Z
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Rabu, 06 Juli 2022

Nam Joo Hyuk's Agency Responds To 3rd Accuser's New Alleged Evidence Of School Bullying And Sexual Harassment In Group Chat - soompi

Nam Joo Hyuk’s agency has released a new statement following a third round of school violence allegations against the actor, this time with alleged evidence of bullying and sexual harassment.

Last month, a person claiming to have been bullied by Nam Joo Hyuk during their school days (hereafter referred to as “the first accuser”) gave an interview to a news outlet about their alleged experience. Nam Joo Hyuk’s agency Management SOOP firmly denied the allegations, and several days later, they announced that they had taken legal action against the reporter, the first accuser, and the publication in which the interview was first published.

The following week, a second individual (hereafter referred to as “the second accuser”) came forward claiming to have been a victim of school violence at the hands of the actor and his friends during high school, stating that they had decided to speak up after seeing that Nam Joo Hyuk’s agency had sued the first accuser and denied their claims. Management SOOP denied this second round of allegations as well.

On July 6, another news outlet reported that they had obtained evidence from a third accuser—this time a woman—that Nam Joo Hyuk and his friends had bullied and sexually harassed her during their senior year of high school.

The third accuser provided text messages from a KakaoTalk group chat from May 10, 2012, claiming that she had been forcefully invited into the group chat against her will and bullied simply because one of Nam Joo Hyuk’s friends disliked her. In a form of cyberbullying known as “KakaoTalk prison” in Korea, Nam Joo Hyuk and his friends reportedly took turns sending her hateful messages that included sexual harassment, comments disparaging her looks, and sexual insults.

The news outlet stated that through Nam Joo Hyuk did not create the group chat, the text messages showed that he personally insulted the third accuser and participated in the conversation.

The third accuser revealed that she reported the incident to the school at the time, and the perpetrators’ punishment was mandated community service within the school. She also stated that, at the time, the perpetrators only apologized when forced to do so by their teacher. However, according to the third accuser, the perpetrators recently attempted to apologize to her 10 years after the incident, when she wanted to come forward with her story.

Later that evening, Management SOOP released an official statement addressing both the new report and the previous allegations by the first two accusers.

While Nam Joo Hyuk’s agency confirmed that the text messages provided by the third accuser were real, they alleged that the messages were merely an out-of-context fragment of a bigger picture. The agency also confirmed that, as the third accuser had claimed, the incident had been wrapped up with an apology at school. However, they denied that Nam Joo Hyuk had recently attempted to apologize to her.

Explaining their decision not to provide further explanations or context for the text messages, Management SOOP stated, “The things that took place in the KakaoTalk group chat are very complicated and an extremely personal matter for the individuals in the chat. As mentioned in the article itself, it is also an incident that was wrapped up with an apology at school. Therefore, we don’t believe it is right to reveal the full story through the media at present.”

Management SOOP also reiterated their position that the second anonymous report made by the second accuser last month was untrue, announcing once again that they would be taking legal action against both the first and second accusers.

The agency’s full statement is as follows:

We are making a statement regarding the article about Nam Joo Hyuk.

First, in regards to the content of the recent second anonymous report, we checked the truth from various angles through a number of channels, including, of course, the actor himself. We reiterate that we clearly confirmed that the claims made by the second accuser are not true.

Next, today’s article about the messages sent in the KakaoTalk group chat did not reveal the whole story of the situation at the time, and it only provided an excerpt of one fragment of the scene, without any context or explanation of what took place before and after [those messages]. Additionally, it is completely untrue that the actor attempted to apologize to the informant.

The things that took place in the KakaoTalk group chat are very complicated and an extremely personal matter for the individuals in the chat. As mentioned in the article itself, it is also an incident that was wrapped up with an apology at school. Therefore, we don’t believe it is right to reveal the full story through the media at present. The truth of this aspect will also be clearly confirmed during the legal process. Furthermore, we express our deep regret towards the news outlet that unilaterally published the report without checking with us about the truth.

We entreat you. Even though the claims of the accusers hiding behind anonymity have not been carefully fact-checked, and though there is no clear proof, those claims are being revealed in the media as if they are true, and people are currently taking them to be true. No matter how much our agency and the actor counter by stating that they are not true, because this malicious content has already been reported as if it is true, it is very difficult to disprove the claims and prove that he is innocent. Even if his innocence is later revealed through criminal proceedings, it will be impossible to undo this current reality, and that itself clearly means an incredibly great deal of suffering for the actor.

For this reason, our agency has determined that we have no choice but to respond strongly to both the first accuser and the second accuser in order to protect our actor’s reputation, and we plan to speedily file lawsuits against them. We are also letting you know that we plan to take strong and decisive legal action against YouTubers or news outlets that spread unconfirmed and groundless claims or rumors.

Thank you.

Source (1) (2)

Top Photo Credit: Xportsnews


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2022-07-06 14:43:53Z
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Sri Lankans return to cooking with firewood as economy burns - CNA

Some tried to shift to kerosene oil cookers, but the government did not have dollars to import it along with petrol and diesel, which are also in short supply.

And those who bought electric cookers were in for a rude shock when the government imposed lengthy power blackouts as it ran out of dollars to import fuel for generators.

Niluka Hapuarachchi, 41, was miraculously unharmed when her gas range exploded soon after cooking Sunday lunch in August.

"Fortunately, no one was there at the time. There were pieces of glass all over the floor. The glass-top stove had exploded. I will never use gas for cooking. It is not safe. We are now on firewood," she said, despite moves to address the propane problem.

Roadside eatery owner M G Karunawathi, 67, also switched to wood and said it was a choice between closing her business or putting up with smoke and soot.

"We suffer (smoke inhalation) when cooking with firewood, but we have no choice," Karunawathi told AFP. "It is also difficult to find firewood and it is also becoming very expensive."

ECONOMIC CRISIS

Sri Lanka used to be a middle-income country, with the gross domestic product per head comparable to the Philippines and living standards the envy of neighbouring India.

But with economic mismanagement and the crucial tourism industry hammered by COVID-19, the nation has run out of dollars needed to pay for most imports.

And the pain will likely continue for some time, with Prime Minister Ranil Wickremesinghe in parliament on Tuesday (Jul 5) saying, "We will have to face difficulties in 2023 as well.

"This is the truth. This is the reality."

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2022-07-06 04:42:54Z
CBMiVGh0dHBzOi8vd3d3LmNoYW5uZWxuZXdzYXNpYS5jb20vYXNpYS9zcmktbGFua2EtZmlyZXdvb2QtY29va2luZy1ydW4tb3V0LWZ1ZWwtMjc5MTg3NtIBAA

Greater China stocks lead losses as Covid concerns resurge; Asia-Pacific markets fall - CNBC

SINGAPORE — Greater China stock indexes led losses as Covid concerns resurfaced, while Asia-Pacific markets traded lower on Wednesday. Oil futures rose after plunging overnight.

Hong Kong's Hang Seng index slipped 2.57%, with heavyweights HSBC and CNOOC falling 3.93% and 5.87% respectively. The Hang Seng Tech index was down 2.91%.

Mainland China markets also declined. The Shanghai Composite shed 2.07%, and the Shenzhen Component lost 1.8%.

"New rounds of Covid testing in Shanghai have increased fears of further lockdowns for China, which would have a ripple effect on other markets," an ANZ Research note dated Wednesday said.

Shanghai will be conducting mass testing in several districts after Covid cases were detected earlier this week, a statement on the city's WeChat account said.

Some 11 cities in China were restricting local movement as of Monday, up from five cities a week earlier, according to Ting Lu, chief China economist at Nomura.

Japan's Nikkei 225 fell about 1% and the Topix index slipped 1.3%.

In South Korea, the Kospi declined 1.13%, but the Kosdaq gained 0.51%.

The S&P/ASX 200 in Australia was 0.34% lower.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.78%.

U.S. stock indexes initially fell sharply on Tuesday stateside before rallying in the afternoon. The Nasdaq Composite ended the session 1.75% higher at 11,322.24, while the S&P 500 was up 0.16% at 3,831.39.

The Dow Jones Industrial Average shed 129.44 points, or 0.4%.

There is no doubt that recession is the biggest issue markets are currently grappling with.
Ben Snider
Senior strategist, Goldman Sachs

The U.S. 10-year Treasury yield and the 2-year yield inverted on Tuesday in the U.S., a closely watched measure that signals recession. Longer duration yields are usually higher than shorter duration yields. But the 2-year yield was last at 2.8426, above the 10-year yield of 2.8364.

"There is no doubt that recession is the biggest issue markets are currently grappling with, both equity, fixed income and frankly commodity markets as well," Ben Snider, a senior strategist at Goldman Sachs, told CNBC's "Squawk Box Asia" on Wednesday.

In central bank news, Bank Negara Malaysia is expected to release its monetary policy statement today. Analysts polled by Reuters expect the bank to raise rates by 25 basis points.


Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 106.497, jumping from below 105.3 earlier this week.

The Japanese yen traded at 135.47 per dollar, strengthening from more than 136 against the greenback on Tuesday. The Australian dollar was at $0.6796 after falling against the stronger U.S. dollar.

"The deteriorating global economy is the main weight on AUD," Kristina Clifton, an economist at Commonwealth Bank of Australia wrote in a note Wednesday.

In Asia's morning trade, oil futures pared gains but still traded higher. West Texas Intermediate crude was up 0.5% at $100. Brent crude rose 1.13% to $103.93.

The U.S. oil benchmark plunged as much as 10%, breaking the $100 level on Tuesday stateside before settling 8.24% lower at $99.50 on the back of recession fears.

International benchmark Brent crude settled 9.45%, or $10.73, lower at $102.77 per barrel.

— CNBC's Evelyn Cheng contributed to this report.

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2022-07-05 23:43:20Z
1472911307

China's Shanghai announces two new rounds of mass COVID testing - Reuters.com

A resident gets tested for the coronavirus disease (COVID-19) behind barriers of a sealed area, amid new lockdown measures in parts of the city to curb the coronavirus disease (COVID-19) outbreak in Shanghai, China June 17, 2022. REUTERS/Aly Song/File Photo

SHANGHAI, July 5 (Reuters) - The city of Shanghai on Tuesday announced two new rounds of mass COVID-19 testing of most of its 25 million residents over a three-day period, citing the need to trace infections linked to an outbreak at a karaoke lounge.

The city government said on its official WeChat account that all residents in nine of the city's 16 districts would be tested twice from Tuesday to Thursday. People in parts of three other districts would also have to undergo tests.

The testing was needed because multiple COVID infections found this week were linked to a karaoke lounge, which had been visited by residents from several districts, it said.

"No household or person should be missed," the city government said of the testing.

During the testing, people living in the affected districts would be required to show a test taken within the last two days to leave their homes, it said.

City lockdowns and repeated mass testing in China, part of its zero-COVID policy that aims to eradicate all outbreaks, have brought case numbers down but many of the measures have fuelled anger and taken a toll on the economy.

Shanghai reported eight new local COVID cases on Monday, seven of which it said were found in quarantined areas.

The city already requires all of its districts to organise mass testing of residents every weekend until the end of July. Residents also need to test themselves every three days in order to enter public areas such as shopping malls or take public transport.

Although China's most populous city has lifted a two month-long lockdown of its 25 million residents, it still imposes targeted curbs on movements whenever a COVID case is found outside quarantined areas.

The northwestern city of Xian, which reported 18 local infections in a flare-up driven by the BA.5.2 sub-variant, will from Wednesday suspend operations at various entertainment venues, dining at restaurants and big events for seven days, a government official said.

Reporting by the Shanghai Newsroom; Editing by Robert Birsel

Our Standards: The Thomson Reuters Trust Principles.

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2022-07-05 11:14:00Z
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