News from Japan dominated the opening hours of the first business day of this week.In M&A news,Toshiba is said to be close to acquiring Swiss smart meter firm Landis+Gyr.Landis+Gyr has outfitted tens of thousands of Danish homes with their energy management technology.
Japan's machinery orders were up 2.9% for the month of April and 6.8% on the year.This may be because Japanese companies are getting set to resume full operations following March 11th's earthquake and tsunami.
The Japanese government is asking banks to forgive Tokyo Electric Power's debt.Tepco,owner of the damaged nuclear plants,is critical to the Tokyo area and the national economy.
Mizuho Financial forecasts an 11% profit increase this year.
Elsewhere in Asia,Singapore strongman Lee Kuan Yew has resigned from the nation's cabinet after five decades,saying it was time for someone younger to take the reins.
In early Asia trading,Japan's Nikkei 225 was down 82.66,while the Korean Kospi declined 14.26 and the Australian ASX 200 dropped 64.70.
It was 82F in Hong Kong under mostly cloudy skies.The day had begun with fog and rain.
iShares Japan MSCI Index Fund(EWJ)
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