Japan shares open 0.83% lower

JAPANESE shares have opened 0.83 per cent lower after US stocks fell on disappointing earnings reports as official data showed Japan's trade deficit more than quadrupled year-on-year in March.

The Nikkei 225 index at the Tokyo Stock Exchange fell 110.67 points to 13,272.22 in the first few minutes of trading on Thursday.

"Despite the difficulty over financial results at several US companies, the dollar held relatively firm against the yen, which should offer some salve for Japan stocks," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.

"But ahead of the upcoming G20 summit, concerns about overall economic growth will nevertheless weigh on the market," he told Dow Jones Newswires.

The US dollar was trading at 97.80 yen in early Asian trade, against 99.19 yen in New York late Wednesday.

The euro fetched $US1.3031 and 127.45 yen, against $US1.3033 and 127.97 yen.

US stocks closed sharply lower after disappointing earnings reports and a 5.5 per cent plunge in Apple shares, along with dreary economic sentiment in Europe.

The Dow Jones Industrial Average dropped 138.19 (0.94 per cent) to 14,618.59.

Shortly before the opening bell in Tokyo, official data showed Japan's trade deficit was $US3.7 billion ($A3.60 billion) in March as a weaker yen inflated import costs.

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What's the best escorted tour in Japan?

Japan's ancient capital of Nara, built in 710, still has many buildings left from the former imperial period and is popular with tourists. Source: Supplied

DOC Holiday has got the diagnosis for your travel qualms.

Q: I WOULD like to take my mother and sister on a trip to Japan. We are first-time travellers so want to do an escorted tour sometime this year. I am unsure who to book with and which cities and attractions we should visit. Can you please help?

Doc: Certainly, and I know of the perfect company for you. Japan Holidays, long-time operators of tours to Japan has two upcoming trips that will interest you. I recently had the pleasure of experiencing one of these tours escorted by the lovely Jan Hutton, who knows Japan inside out.

Not only does Jan speak the language, she knows all the shortcuts, the best eating houses and, most importantly is an expert at navigating the train system. She will escort The Wildflowers, Walks & Wonders tour, which departs on June 2 for 16 nights. On this tour you will take in the magnificent scenery of the Japan Alps, discover onsens, see monkeys in hot springs, walk in the footsteps of samurai, visit castles and more.

You will experience local culture, visit teahouses, stroll around ponds, gardens and beech forests and maybe even see a geisha. Jan is also escorting the Kumano Kodo Autumn Leaves tour departing October 26 for 14 nights.

This tour takes in Tokyo, Nara where you will find portions of this ancient capital built in 710 still intact, and Koyasan. Here you will travel 900m by cable-car to a plateau where the Shingon sect of Buddhism that was founded in 816 still lives.

Then there is a visit to Todaiji Temple, the largest wooden construction in the world, which houses the Great Buddha standing 16m tall. There is an overnight stay in one of the oldest temples in Koyasan, where Buddhist monks will serve you a traditional vegetarian meal, followed by a walk in the footsteps of ancient pilgrims.

Jan organises all your train and entrance tickets, helps you navigate the yen when shopping and has great local contacts. Most meals are included in the tours and, if not, it's usually put to the vote, giving the group a chance to decide on what they feel like.

For more information, costs and full itineraries you can call 3300 2396 or fill in the inquiry form on the website.

Q: WE ARE looking for a package including flights and a cruise in the Mediterranean. We are first-time cruisers and would also like to include some time in Italy. Our budget is about $6000 a person all up and we wish to travel in August, for about three weeks. Would it be possible to break our journey on the way to Europe?

Doc: Ken from Noonan's Travel in Melbourne has put together the perfect package for you. Flying with Singapore Airlines, you would have a two-night stopover in Singapore before arriving in Barcelona. Then you would be off on a 12-night Mediterranean cruise from Barcelona to Venice, aboard the new Royal Princess from Princess Cruises.

After the cruise, your accommodation in Venice, near St Mark's Square, also includes a gondola ride. A train ride between Venice and Rome is next, along with three nights' accommodation in Rome. Ken has included full breakfasts and transfers in this package, which is priced at $5786 a person.

Tell the Doc: A few weeks ago, I wrote about a day trip in Auckland. I have received many ideas from readers about additional things to do and see, whether on a stopover or an extended stay. I have listed some of these great readers' suggestions below.

* Villa Maria Vineyard is only minutes from the airport and is well known for its excellent sauvignon blanc. You can tour the premises daily at 11am and 3pm, and the cafe is open seven days a week, 11.30am to 3.30pm.

* Visit Kelly Tarlton's Sea Life Aquarium, on the waterfront of Ohaku Bay, it's just moments from Mission Bay beach, and, if you buy your tickets online, you will save at least 10 per cent. If it's your birthday you get in free.

* Lunch at Ecca Stonehouse, right on the beach in Mission Bay, because it has unbeatable views of the Hauraki Gulf, and is open every day from 7am.

* Walk around Auckland's former commercial harbour waterfront, now known as Viaduct Basin. It was the America's Cup host area and nowadays is a residential, commercial and entertainment precinct, with bars, restaurants, cafes and museums.

* If you're feeling a little more adventurous: Take the ferry to Devonport for lunch at the Esplanade Hotel on the waterfront, then walk up the extinct volcanoes to view the harbour.

* Or, get on a Fullers ferry to Waiheke Island, about a 35-minute ride from downtown Auckland. The island is a blend of farmland, forest, beaches, vineyards and olive groves and has an international reputation for its food and arts.

* There's even snow skiing in Auckland - Snowplanet at Silverdale is 20 minutes north of Auckland, and is an indoor snow recreation centre where you can ski on real powder. It has three lifts, a terrain park and a separate learners' slope

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View the original article here

What's the best escorted tour in Japan?

Japan's ancient capital of Nara, built in 710, still has many buildings left from the former imperial period and is popular with tourists. Source: Supplied

DOC Holiday has got the diagnosis for your travel qualms.

Q: I WOULD like to take my mother and sister on a trip to Japan. We are first-time travellers so want to do an escorted tour sometime this year. I am unsure who to book with and which cities and attractions we should visit. Can you please help?

Doc: Certainly, and I know of the perfect company for you. Japan Holidays, long-time operators of tours to Japan has two upcoming trips that will interest you. I recently had the pleasure of experiencing one of these tours escorted by the lovely Jan Hutton, who knows Japan inside out.

Not only does Jan speak the language, she knows all the shortcuts, the best eating houses and, most importantly is an expert at navigating the train system. She will escort The Wildflowers, Walks & Wonders tour, which departs on June 2 for 16 nights. On this tour you will take in the magnificent scenery of the Japan Alps, discover onsens, see monkeys in hot springs, walk in the footsteps of samurai, visit castles and more.

You will experience local culture, visit teahouses, stroll around ponds, gardens and beech forests and maybe even see a geisha. Jan is also escorting the Kumano Kodo Autumn Leaves tour departing October 26 for 14 nights.

This tour takes in Tokyo, Nara where you will find portions of this ancient capital built in 710 still intact, and Koyasan. Here you will travel 900m by cable-car to a plateau where the Shingon sect of Buddhism that was founded in 816 still lives.

Then there is a visit to Todaiji Temple, the largest wooden construction in the world, which houses the Great Buddha standing 16m tall. There is an overnight stay in one of the oldest temples in Koyasan, where Buddhist monks will serve you a traditional vegetarian meal, followed by a walk in the footsteps of ancient pilgrims.

Jan organises all your train and entrance tickets, helps you navigate the yen when shopping and has great local contacts. Most meals are included in the tours and, if not, it's usually put to the vote, giving the group a chance to decide on what they feel like.

For more information, costs and full itineraries you can call 3300 2396 or fill in the inquiry form on the website.

Q: WE ARE looking for a package including flights and a cruise in the Mediterranean. We are first-time cruisers and would also like to include some time in Italy. Our budget is about $6000 a person all up and we wish to travel in August, for about three weeks. Would it be possible to break our journey on the way to Europe?

Doc: Ken from Noonan's Travel in Melbourne has put together the perfect package for you. Flying with Singapore Airlines, you would have a two-night stopover in Singapore before arriving in Barcelona. Then you would be off on a 12-night Mediterranean cruise from Barcelona to Venice, aboard the new Royal Princess from Princess Cruises.

After the cruise, your accommodation in Venice, near St Mark's Square, also includes a gondola ride. A train ride between Venice and Rome is next, along with three nights' accommodation in Rome. Ken has included full breakfasts and transfers in this package, which is priced at $5786 a person.

Tell the Doc: A few weeks ago, I wrote about a day trip in Auckland. I have received many ideas from readers about additional things to do and see, whether on a stopover or an extended stay. I have listed some of these great readers' suggestions below.

* Villa Maria Vineyard is only minutes from the airport and is well known for its excellent sauvignon blanc. You can tour the premises daily at 11am and 3pm, and the cafe is open seven days a week, 11.30am to 3.30pm.

* Visit Kelly Tarlton's Sea Life Aquarium, on the waterfront of Ohaku Bay, it's just moments from Mission Bay beach, and, if you buy your tickets online, you will save at least 10 per cent. If it's your birthday you get in free.

* Lunch at Ecca Stonehouse, right on the beach in Mission Bay, because it has unbeatable views of the Hauraki Gulf, and is open every day from 7am.

* Walk around Auckland's former commercial harbour waterfront, now known as Viaduct Basin. It was the America's Cup host area and nowadays is a residential, commercial and entertainment precinct, with bars, restaurants, cafes and museums.

* If you're feeling a little more adventurous: Take the ferry to Devonport for lunch at the Esplanade Hotel on the waterfront, then walk up the extinct volcanoes to view the harbour.

* Or, get on a Fullers ferry to Waiheke Island, about a 35-minute ride from downtown Auckland. The island is a blend of farmland, forest, beaches, vineyards and olive groves and has an international reputation for its food and arts.

* There's even snow skiing in Auckland - Snowplanet at Silverdale is 20 minutes north of Auckland, and is an indoor snow recreation centre where you can ski on real powder. It has three lifts, a terrain park and a separate learners' slope

"Like" Escape.com.au on Facebook

Follow @Escape_team on Twitter

View the original article here

Japan says October-December revised GDP

JAPAN says growth was flat in the October to December quarter from the previous quarter, revising up a preliminary figure of a 0.1 per cent contraction and signalling an end to recession.

On an annualised basis, GDP grew a revised 0.2 per cent in the quarter, showing the world's third largest economy technically ended its latest recession, according to figures from the Cabinet Office.

Japan's economy had shrunk for two consecutive quarters from April through September as export demand weakened due to financial turmoil in key market Europe, a strong yen and a diplomatic row with China.

The country has seen a mixed bag of economic data lately, with the unemployment rate edging down to 4.2 per cent in January and the struggling economy remaining mired in deflation, while industrial output showed a modest rise of 0.1 per cent in January from the previous month.

However, the yen has weakened in recent months, helping make the nation's exporters more competitive and boosting their latest earnings results.

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Japan to nominate ADB prez as BoJ chief

THE Japanese government of Shinzo Abe is set to nominate Asian Development Bank president Haruhiko Kuroda as governor of the central bank, reports say, sending the dollar surging against the yen.

The greenback surged past 94 yen in early Asian trade on Monday from 93.37 yen in New York on Friday, with investors confident that there will be fresh aggressive easing steps by Abe's administration to boost the flagging economy.

The cabinet plans to submit his nomination to parliament this week, the Nikkei and other newspapers said. The appointment requires parliamentary approval.

If approved, the 68-year-old former finance ministry bureaucrat will succeed incumbent Bank of Japan (BoJ) governor Masaaki Shirakawa, who is stepping down on March 19, several weeks before the end of his term.

Abe has decided to pick Kuroda "as he backs Prime Minister Shinzo Abe's bold monetary easing policies while maintaining good links with the international financial industry", the Nikkei said.

Abe also plans to pick Tokyo's Gakushuin University economics professor Kikuo Iwata as one of the deputy governors, while BoJ executive-director Hiroshi Nakaso is the leading contender for the other deputy position, Nikkei reported.

Immediate confirmation of the reports was not available.

Abe told a news conference on Friday in Washington that his government would start picking nominees on Monday after concluding his US trip, during which he held talks with President Barack Obama.

Kuroda spent decades as a Japanese finance ministry bureaucrat. He was responsible for international affairs and foreign exchange policy between 1999 and 2003 before assuming the post of ADB president in 2005.

A former vice finance minister for international affairs, he is known as an advocate of aggressive monetary easing to overcome Japan's deflation, a stance in line with Abe's economic policy.

Abe had warned he could change a law guaranteeing the bank's independence if it did not follow his prescription of big spending and aggressive monetary easing to rescue the economy from decades of weak growth and deflation.

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