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Kyodo economic news summary.

TOKYO, Oct. 15 Kyodo

---------- Bush to ask Koizumi to halt forex intervention

WASHINGTON - U.S. President George W. Bush signaled Tuesday he will urge Japan to refrain from currency market intervention to stem the yen's rise against the dollar when he meets Prime Minister Junichiro Koizumi in Tokyo on Friday.

''I will remind him that our position, when it comes to currency exchanges, is that the market ought to decide the relative values of currencies based upon on the fiscal policy of each government, the monetary policy of each government, the future economic picture of each country,'' Bush said in an interview with Japan's Fuji Television Network Inc.

---------- Japan presents fresh compromise in FTA talks with Mexico

TOKYO - Japan presented a fresh compromise early Wednesday to break an impasse in negotiations with Mexico on a bilateral free trade agreement (FTA), Japanese officials said.

The new proposal came as Japan and Mexico decided to continue ministerial talks for a third straight day on Wednesday in search of a breakthrough in the stalled FTA negotiations.

---------- Tokyo stocks open slightly lower on profit-taking

TOKYO - Stocks opened slightly lower on the Tokyo Stock Exchange on Wednesday as profit taking outpaced buying of select high-tech issues following an overnight rise on Wall Street.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 23.97 points, or 0.22%, to 10,942.46. The broader Tokyo Stock Price Index (TOPIX) of all First Section issues edged down 0.33 point, or 0.03%, to 1,086.98. The Second Section rose.

---------- Dollar at upper 108 yen in early Tokyo trading

TOKYO - The U.S. dollar was trading in the upper 108 yen level early Wednesday in Tokyo following turbulent trading overnight in New York, where it briefly rose to the 110 yen level.

At 9 a.m., the dollar was quoted at 108.85-87 yen against Tuesday's 5 p.m. quotes of 108.80-90 yen in New York and 109.73-75 yen in Tokyo.
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Publication:Japan Weekly Monitor
Date:Oct 20, 2003
Words:332
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