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Japanese exports surge at fastest in nearly 4 years

Japanese exports surged at the fastest pace in nearly 4 years in August on the back of booming shipments of cars and electronics.

August exports rose 18.1% y/y, beating the estimate of 14.7%. This was the ninth straight month of expansion. Imports rose 15.2% in the year to August, beating the median estimate of an 11.8% increase.

The trade balance came to a surplus of JPY 113.6 billion ($1.02 billion), versus the median estimate of a JPY 93.9 billion surplus.

PBOC set the Yuan reference rate at 6.5670

The People's Bank of China [PBOC] set the Yuan reference rate at 6.5670 vs. Tuesday's fix of 6.5530.
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Abe won't waver on sales tax - Economic Adviser

According to Motoshige Itoh, a member of the Japanese government's economic and fiscal policy council, PM Abe would not waiver from his current stance
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