Bailout,Asia Real Time News items

• OVERNIGHT: Japan to introduce $154bln stimulus planPosted:09/07/2009 13:59 GMT by NeedToKnowNews
  Tokyo said will pay for the plan with bond issues totalling $100bln. The total amout of the stimulus package is 3.1% of Japan's GDP.
• Overnight: No new stimulus announcement from Chinese PremierPosted:14/07/2009 14:16 GMT by NeedToKnowNews
  China's Premier Wen Jiabao did not announce any new spending measures to boost the economy in a speech today, contrary to widespread market speculation. Mr Wen did reiterate a full-year growth target of 8% for the Chinese economy, however. In November China announced a 4trln yuan stimulus package including infrastructure investment and tax cuts.
• Overnight: Japan Offers Public Funds to Struggling CompaniesPosted:13/07/2009 6:49 GMT by NeedToKnowNews
  The Japanese government said it will provide public funds to firms whose capital has been seriously damaged by the financial crisis. A government-affiliated bank will buy shares in the companies, which are required to become profitable within three years. The Nikkei surged on the news, rising 5%, while the yen struggled on the associated rebound in risk appetite.
• China's Regulators Says Banks' Balance Sheets 'Worsening -- ReportPosted:14/07/2009 0:22 GMT by NeedToKnowNews
  China's top banking regulator said banks' balance sheets were 'worsening,' but that the government had no intention to recapitalize them.
• Update: Japan Stimulus PackagePosted:10/07/2009 14:02 GMT by NeedToKnowNews
  The Japanese economic stimulus will be worth JPY 26.9trln in nominal terms, with more than 2trln available for bank recapitalisation, a 2trln cut in income taxes, new spending of 5trln, and help for small companies of 500bln. The total value of JPY 26.9trln includes guarantees for loans, among other measures.
• Update: ASEAN Financial Markets Summit Called for OctoberPosted:14/07/2009 16:26 GMT by NeedToKnowNews
  The Association of Southeast Asian Nations (ASEAN) is planning a summit on the state of financial markets for October 23 or 24 in Beijing, its secretary general Surin Pitsuwan said. The summit could include talks on an emergency fund to support member nations' currencies, but it is being described as a precaution rather than a panic move. Pitsuwan said the summit might include China, Japan and South Korea, who are not members of the group.