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Kyodo economic news summary.

TOKYO, Aug. 14 Kyodo

---------- Tokyo stocks rise on global recovery hopes after U.S., Europe gains

TOKYO - Tokyo stocks opened slightly higher Friday after Wall Street gained on better-than-expected earnings from Wal-Mart Stores Inc. and global recovery hopes were reinforced by unexpected growth in Germany and France.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average gained 51.76 points, or 0.49 percent, from Thursday to 10,568.95.

---------- Dollar trades at lower 95 yen in early Tokyo deals

TOKYO - The U.S. dollar traded in the lower 95 yen zone early Friday in Tokyo, down from its levels overnight in New York.

At 9 a.m., the dollar fetched 95.27-32 yen compared with Thursday's 5 p.m. quotes of 95.43-53 yen and 96.37-40 yen in Tokyo.

---------- U.S. to offer $2.3 billion tax credits for clean energy

WASHINGTON - The treasury and energy departments said Thursday they will provide $2.3 billion in tax credits to U.S. manufacturers of clean energy equipment as part of the administration's economic stimulus plan.

''This program will help encourage innovation in design of clean energy technologies,'' said Treasury Secretary Timothy Geithner in a statement.

---------- U.S. trade body OKs Chinese blanket investigation

WASHINGTON - The U.S. International Trade Commission said Thursday it has given the go-ahead to a probe into allegations that made-in-China woven electric blankets are being sold in the United States at unfairly low prices.

The decision of the semi-judicial ITC is based on a complaint filed by Florida-based Jarden Consumer Solutions. It asked that antidumping duties of between 128 percent and nearly 395 percent be imposed on the imported Chinese blankets.

---------- IMF to pump $250 billion into members' reserves

WASHINGTON - The International Monetary Fund said Thursday it will infuse $250 billion into member countries' foreign exchange reserves to bolster liquidity amid the global economic crisis.

The IMF's Executive Board formally approved the one-time, unconditional allocation of $250 billion worth of Special Drawing Rights to be made Aug. 28, the Washington-based institution said in a statement.
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Publication:Japan Weekly Monitor
Date:Aug 17, 2009
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