The economic situation worsens in Japan, as reported by the deterioration of the super index, which heralds a new weakening of the current conditions and expected the next 12 months.
The leading indicator of Japan for the month of May was revised down to 99.7 points from 100 points of the preliminary estimate and is now down from 100 points in April. This was announced by the Cabinet Office of Japan in its final reading.
The success of Pokemon Go is not proving equal to the Nintendo accounts. The Japanese company has nearly doubled its stock market value since the game was launched earlier this month, but it has specified in a note – on Friday evening at the close of the markets – the financial impact of the game on the company’s accounts will be "limited" and that is not on the agenda in a rise in estimates on the results for the current year, based on the" current conditions. " It also further dampened enthusiasm by specifying that the sale of Pokemon Go Plus, an accessory for the game produced by Nintendo itself, is already discounted in current forecasts.
The Volkswagen Group has announced that from next Monday will make a voluntary stop the sale of 79 models in South Korea, as reported by various German newspapers. "We have decided to suspend sales to limit confusion between dealers and customers," said a spokesman for Volkswagen South Korea, who added that in case of withdrawal, to regain certification of the involved models may take up to three months.
The "Pokemon Go" successful drag up the title that Nintendo has today gained another 14% to the Tokyo Stock Exchange to close at 31,700 yen (295 francs). Since the launch of the game, on July 6, Nintendo’s market capitalization has more than doubled to 4.5 trillion yen (42 billion francs), more than that of Sony. Nintendo has also established a new record for the largest number of shares traded in one day in Japan, beating the record that he scored last Friday.
Ninth consecutive month of growth in housing prices in major cities in China, after a losing streak lasted 14 months. The signs of a stabilization in the housing market therefore continued in June, thanks to incentives such as lower taxes, and the requirements in terms of initial deposit. According to information of the Chinese National Statistical Office, the average price of new homes rose last month by 7.3% annually compared to 6.9% registered in May (6.2% in April). Instead it slows from 0.9% to 0.8% sequential growth in house prices.
The Federal Authorities of the Swiss Financial Market Supervisory Authority (FINMA) has launched a process of "Enforcement" against the former head of Asian Affairs of the BSI Hans Peter Brunner. The aim is to clarify the responsibilities in the matter of money laundering linked to Malaysian fund 1Malaysia Development Berhad (1MDB).
First slightly positive signals coming today from China, with the service sector in the month of June shows a slight recovery. After the manufacturing industry continues to falter, the indicator on the scale services is the uncertainty among investors about the direction of the second largest economy in the world.
After rumors of recent weeks, the official approval has arrived: Abu Dhabi will have a new banking giant 175 billion dollars of assets. NBAD and First Gulf Bank, respectively the second and the third largest bank in the UAE, today approved their merger. In a joint statement the two banks explain that the merged bank will be the largest in the Middle East and North Africa.
The transaction, which will be completed in the first quarter of next year, will lead to the cancellation of the First Gulf Bank name from the register of the Abu Dhabi stock exchange values. The new institute will be named National Bank of Abu Dhabi, although FGB shareholders will have a majority with 52% of capital.
