Dollar hits low, stocks retreat on subprime fears

(Reuters) - The weaker dollar hit Asian exporters such as Canon Inc., with overall market sentiment also soured by losses on Wall Street and caution after China raised interest rates on Friday in another attempt to prevent the buoyant economy from overheating.




Oil prices fell from near-record highs after oil producer group OPEC expressed concern about the impact of high oil prices on the global economy, which traders saw as a sign it might decide to pump more oil. Gold held on to Friday's gains, benefiting from the weak dollar and heightened market uncertainty.


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Japanese Exporter, Energy Shares May Gain; Sony May Pace Rise on Weak Yen

(Bloomberg) -- Japanese exporter shares such as Sony
Corp. and Canon Inc. may advance on speculation a weakened yen
will inflate the value of their overseas sales and boost profits.

Energy-related shares including Inpex Holdings Inc. and
Itochu Corp. may also gain after crude oil jumped to a 10-month
high last week.


Read more at Bloomberg Stocks News

Yen's Drop to 22-Year Low Threatens Earnings at Nissan, Canon, Mitsubishi

(Bloomberg) -- Nissan Motor Co., Canon Inc. and
Ricoh Co. say the yen's slump to a 22-year low is too much of a
good thing for Japan's exporters.

Nissan, the nation's third-biggest carmaker, can't afford
to rely on exchange rates to compete, Chief Executive Officer
Carlos Ghosn says. Canon Chairman Fujio Mitarai, head of the
country's largest business lobby, and Ricoh President Masamitsu
Sakurai, leader of the biggest executive group, said the yen's
drop is becoming a concern.


Read more at Bloomberg Currencies News

Japan's Topix Index Declines the Most in 12 Weeks on U.S. Housing Concern

(Bloomberg) -- Japanese stocks dropped, with the
Topix index slumping by the most in more than 12 weeks on
concern U.S. demand will falter, curbing profits, amid signs the
housing market there is worsening and after the yen strengthened.

Canon Inc. fell by the most since March and Honda Motor Co.
slid 1.6 percent. Mitsubishi Corp. had its second-worst
performance of the year, leading commodities-related shares
lower after prices of oil, copper, gold and other raw materials
slumped.


Read more at Bloomberg Stocks News

Japan's Nikkei 225 Stock Average, Topix Fall; Toyota, Canon Lead Decline

(Bloomberg) -- Japan's Nikkei 225 Stock Average
fell 103.87, or 0.6 percent, to 18,107.81 at 9:02 a.m. in Tokyo.
The broader Topix index dropped 8.97, or 0.5 percent, to
1774.75.

Toyota Motor Corp. and Canon Inc. led the declines.


Read more at Bloomberg Stocks News