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Kyodo economic news summary -3-.

TOKYO, June 1 Kyodo

---------- Nissan plans to move headquarters to Yokohama around 2010

TOKYO - Nissan Motor Co. is considering moving most of its head office operations from Tokyo to Yokohama, where it was founded 71 years ago, sources close to the move said Tuesday.

Nissan is looking to transfer its head office functions from Tokyo's Ginza district to Yokohama's Minato Mirai in a waterfront area around 2010, the sources said.

---------- South Korea's trade surplus hits 65-month high in May

SEOUL - South Korea's trade surplus topped $3 billion in May, the largest monthly surplus in more than five years on the back of strong exports to the United States and China, South Korea's Yonhap News Agency reported Tuesday.

Yonhap, quoting the ministry of Commerce, Industry and Energy, said customs-cleared exports rose 42.4 percent in the month to $20.9 billion and imports rose 32.3 percent to $17.88 billion for an overall surplus of $3.01 billion, the biggest single-month figure in five years and five months.

---------- Dollar recovers to upper 109 yen level in Tokyo morning deals

TOKYO - The U.S. dollar recovered to the upper half of the 109 yen range Tuesday morning in Tokyo as market participants bought back the currency following its falls the previous day.

At noon, the dollar was quoted at 109.81-83 yen against Monday's 5 p.m. quote of 109.55-57 yen in Tokyo. The markets in New York and London were closed Monday for holidays.
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Publication:Japan Weekly Monitor
Date:Jun 7, 2004
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