Apple faces action for coercing Yahoo Japan to quash game platform: Report

Apple allegedly pressured Yahoo Japan to quash a game platform that offered competition to the App Store, prompting regulators in Japan to initiate an investigation, Nikkei Asian Review reported on Thursday.

Launched in July 2017, Yahoo Japan's Game Plus allows users to play games without needing to download apps and gives developers lesser restrictions in matters relating to sales, fees and software updates than Apple's App Store, the report said.

The platform elicited interests from a large number of companies including famed role-playing game maker Square Enix Holdings.

But Apple allegedly found this strategy of Yahoo Japan a direct threat to its model of App Store which contributes a big amount to the tech giant's revenue and pressurised Yahoo Japan to quash the platform.

Global stocks tumble, yen gains after North Korea fires missile over Japan

US stock futures and Asian share markets tumbled on Tuesday, while the yen jumped to four-month highs against the dollar after North Korea fired a missile over northern Japan, setting up a tense start to trading for markets in the region.

S&P mini futures fell as much as 0.85 percent on the news before paring losses to trade 0.5 percent below its close on Monday, when it was little changed.

Japan's Nikkei fell 0.7 percent to four-month low while South Korea's Kospi shed 0.5 percent, helping to drag down MSCI's broadest index of Asia-Pacific shares outside Japan 0.3 percent.

North Korea fired a missile early on Tuesday that flew over Japan and landed in the Pacific waters off the northern region of Hokkaido, South Korea and Japan said, in a sharp escalation of tensions on the Korean peninsula.

North Korea has conducted dozens of ballistic missile tests under young leader Kim Jong-Un, the most recent on Saturday, but firing projectiles over mainland Japan is rare.

"North Korea's reckless action is an unprecedented, serious and a grave threat to our nation," Japanese Prime Minister Shinzo Abe told reporters.

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Asian markets trade lower ahead of ECB meet and UK election

Asian shares wobbled in early Thursday trade as investors braced for any surprises from former FBI director James Comey's congressional appearance, the European Central Bank's policy meeting and the UK general elections.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.27 percent while Japan's Nikkei rose 0.3 percent thanks to the dollar's rebound against the yen.

Wall Street shares ticked up on Wednesday, despite sharp decline in energy prices, after written testimony from Comey did not add major revelations about an investigation into Russian meddling with last year's US presidential election.

The 10-year US Treasuries yield ticked up to 2.185 percent after having fallen to a seven-month low of 2.129 percent on Tuesday.

Many investors are wary ahead of Comey's Senate appearance later in the day for any hints that President Donald Trump may have been engaged in obstruction of justice - an offence that could lead to impeachment hearings.

"If the hearing does not produce clear-cut evidences of obstruction of justice, uncertainties will remain but for market the issue will likely be put on a back burner," said Hiroko Iwaki, senior fixed income strategist at Mizuho Securities.

"Unless you assume there will be a complete chaos in US politics or a downturn in the U.S. economy, it is hard to see further falls in US bond yields," she said.

In the foreign exchange market, the dollar stayed near its seven-month low against a basket of currencies as doubts over Trump's ability to push through his stimulus plans have eroded the greenback's gains late last year.

The dollar index stood at 96.695, near Wednesday's seven-month low of 96.511.

The euro traded at $1.1258, near its seven-month high of $1.1285 touched earlier this month, ahead of the European Central Bank's policy meeting later in the day.

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Asian stocks retreat from highs after Trump tax plan

Asia stocks ticked down from a near two-year high on Thursday after a long-awaited U.S. tax plan failed to inspire investors, though sentiment remains supported by global growth prospects and receding worries about political risks in Europe.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.1 percent after hitting its highest level since June 2015 on Wednesday. Japan's Nikkei dipped 0.3 percent.

U.S. President Donald Trump proposed slashing tax rates for businesses to 15 percent from the current 35 percent for public corporations and 39.6 percent for small businesses, and on overseas corporate profits returned to the country.

But the one-page plan offered no specifics on how it would be paid for without increasing the deficit, which many analysts think would be difficult to achieve.

"There were no specifics in terms of funding for the tax cuts. The announcement appeared many thins are still in flux," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management.

On Wall Street, the S&P 500 ended down 0.05 percent, failing to cling to earlier gains made on optimistic views on corporate earnings.

Overall profits of S&P 500 companies are estimated to have risen 11.8 percent in the first quarter, the most since 2011, according to Thomson Reuters I/B/E/S.

The world's share markets have been bolstered by relief over the first round of the French presidential election and also by signs of solid global economic growth in recent months.

The disappointment on the tax plan prompted fall in U.S. bond yields and the U.S. dollar.

The 10-year U.S. Treasuries yield slipped to 2.304 percent from two-week high of 2.350 percent touched earlier on Wednesday.

The euro traded at $1.0908 , having bounced back from Wednesday's low of $1.0856 and near its 4 1/2-month high of $1.09515 touched on Wednesday.

The ECB is scheduled to hold a policy meeting on Thursday, with the focus on the potential for a scaling back of monetary stimulus in the months ahead.
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