Thursday, Apr 19 2018 | Time 21:02 Hrs(IST)
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  • Most Indians, including those in BJP, understand truth about Amit Shah: Rahul
  • Day PDP-BJP formed Govt, Pak created unrest in J&K: Dy CM
  • 960 gm gold powder seized at Mumbai airport
  • Khorlo Bhutia appointed Chairman of Sikkim IFFCO Organics Ltd
  • Tripura CM demands Congress, CPI(M) to seek apology on Loya case
  • 50 fall sick after consuming contaminated food
  • CBI recreated crime scene of killing of rape victim's father
  • Shiv Sena workers take out 'morcha' to Kolhapur civic body's office
  • All 13 in UP, 11 in Bihar elected unopposed in council election, Nitish, Rabri, Sushil Modi win
  • Unidentified person snatch a 12 bore rifle from a bank guard in Kashmir
  • Showkat to take additional charge of Commissioner, Patiala from April 21 to May 13
  • Hundreds of deprived villagers in Tripura district hoping for basic amenities
  • Hideout busted in Doda, cache of arms, ammunition recovered
  • Property worth of Rs 25 lakhs destroyed in fire
  • Shah targets Chidambaram with ‘Pakoda’ jibe again
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Nikkei falls to 1-1/2-week low as financials weaken; Softbank down

TOKYO, March 21 (Reuters) Japan's Nikkei share average fell to a 1-1/2-week low on Tuesday morning as financial stocks were battered after U.S. yields fell, while index-heavyweight SoftBank tumbled and weighed on the index.
The Nikkei dropped 0.5 percent to 19,432.71 in midmorning trade after a public holiday on Monday. Earlier, it hit as low as 19,337.22, the lowest level since March 9.
Financial stocks lost ground after U.S. yields rose as Chicago Federal Reserve President Charles Evans reinforced the perception that the U.S. central bank won't accelerate the pace of its interest rate hikes.
Evans' public comments were among the first since the U.S. central bank lifted its policy rate a notch last week, as expected.
"Participants in the Japanese market have become cautious again and their wait-and-see stances will likely last until the next U.S. rate hike," said Kazuhiro Takahashi, an equity strategist at Daiwa Securities.
That said, he also said that markets may find short-term catalysts from Japan Inc.'s earnings forecasts for the next fiscal year, which will be out in early May when companies report their full-year earnings for the year ended March 2017.
SoftBank Group Corp dropped 2.2 percent and contributed a hefty negative 21 points to the Nikkei index after the Wall Street Journal reported that the company scrapped a planned $100 million investment in a smartphone startup founded by the creator of Google's Android software, citing people familiar with the matter.
"SoftBank's aggressive investment stance in the U.S. has nothing to do with its earnings growth or stock fundamentals, but it affects sentiment," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management. "Since SoftBank is one of the 'Trump beneficiary stocks' which had risen earlier, people seem to be taking profits on this report."
Led by founder Masayashi Son, SoftBank has made a string of surprising acquisitions and investments over the past months, which include an all-cash deal to buy asset manager Fortress Investment Group.
Son also promised a $50 billion investment and 50,000 new jobs in the United States after meeting U.S. President Donald Trump in early December. SoftBank shares have jumped 36 percent since Trump won the U.S. presidential election in November.
Insurers Dai-ichi Life Holdings stumbled 1.9 percent and Sompo Holdings fell 1.4 percent. Mitsubishi UFJ Financial Group slipped 1.8 percent.
Exporters were mixed, trimming earlier declines after the dollar rose against the yen during Asian trade. Toyota Motor Corp was down 0.1 percent, Nissan Motor Co gained 0.5 percent and Panasonic Corp shed 0.3 percent.
The broader Topix dropped 0.2 percent to 1,563.28 and the JPX-Nikkei Index 400 shed 0.2 percent to 13,986.79.
REUTERS RSD 0821
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New data from Africa allays fears of bowel obstruction from rotavirus vaccine

19 Apr 2018 | 5:12 PM

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Israel asked to halt plans to relocate Palestinian Bedouin communities in WB

Israel asked to halt plans to relocate Palestinian Bedouin communities in WB

19 Apr 2018 | 4:55 PM

United Nations, Apr 19 (UNI) A senior United Nations humanitarian official has called on Israeli authorities to halt plans to demolish Palestinian-owned structures and cease plans for the relocation of Palestinian Bedouin communities in the West Bank.

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Six Bangladeshis killed in S Arabia fire; Family faces uncertain future

19 Apr 2018 | 4:54 PM

By Mir Afroz Zaman
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Plastic straw and cotton bud ban proposed

Plastic straw and cotton bud ban proposed

19 Apr 2018 | 4:46 PM

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