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By Syndicated Content
By Hideyuki Sano
TOKYO (Reuters) - Japanese firms with strong Chinese ties are seeing their shares fall ahead of a meeting of Prime Minister Yoshihide Suga and U.S. President Joe Biden, as investors fear pressure to align Japan more closely with Washington s tough stance on Beijing.
Shippers, retailers and manufacturers of various machines and components with significant dependence on Chinese demand could bear the brunt of further diplomatic tension in the form of trade restrictions or popular boycotts, analysts said.
Suga on Friday will be the first foreign leader to visit the White House since Biden took office in January, widely seen as an indication by both countries as a desire to revitalise their alliance to counter China s growing clout.
Middle EastWorld shares rebound as investors weigh economy against diplomacy
Hideyuki Sano
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A man wearing a protective face mask, following an outbreak of the coronavirus, talks on his mobile phone in front of a screen showing the Nikkei index outside a brokerage in Tokyo, Japan, February 26, 2020. REUTERS/Athit Perawongmetha
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Global shares bounced back on Friday, with Asian stocks recovering from a three-month low, as investors focused more on optimism about the global economic recovery than rising tensions between the West and China.
European stocks look set to open higher, with Euro Stoxx futures rising 0.8% and Britain s FTSE futures gaining 0.61%.
4 Min Read
TOKYO (Reuters) -Japanese firms with strong Chinese ties are seeing their shares fall ahead of a meeting of Prime Minister Yoshihide Suga and U.S. President Joe Biden, as investors fear pressure to align Japan more closely with Washington’s tough stance on Beijing.
FILE PHOTO: Japanese Prime Minister Yoshihide Suga announces that Tokyo, Kyoto and Okinawa will have pre-emergency status under a new prevention law during a government task force meeting at the prime minister s office, Tokyo, Japan, April 9, 2021. Eugene Hoshiko/Pool via Reuters
Shippers, retailers and manufacturers of various machines and components with significant dependence on Chinese demand could bear the brunt of further diplomatic tension in the form of trade restrictions or popular boycotts, analysts said.
Provided by Dow Jones By Nicholas Bariyo KAMPALA, Uganda French oil giant Total SE said it expects to start commercial oil production from its Ugandan oil fields by early 2025. As much as $10 billion is required to develop the oil fields and build a 900-mile export pipeline to tap around 1.4 billion barrels of crude from Uganda s western border with the Democratic Republic of Congo, according to the company s chief executive Patrick Pouyanne s remarks delivered Sunday in Uganda s lakeside city of Entebbe, where Ugandan and Tanzanian leaders signed several agreements to clear the project. Total s latest projection is less optimistic than an earlier prediction of first commercial oil by 2024, as the landlocked nation grapples with the delayed commercialization of its crude fields, first discovered in 2006. Moody s Investor Service expected the commercialization of the oil fields to significantly boost Uganda s growth.