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n. NKY225 opened stronger and closed on its highs +2.88% as JPY weakened to a 2.5yr low vs USD (90.85). Japan's Dec CPI released before the open in Tokyo showed the 7th decline in 8 months (core CPI -0.2% y/y vs est -0.2%) and boosted speculation that the BOJ will need to re-think the timing of the ne
grade KNIN VX, -ve NOK1V FH, upgrade TCG LN EFTA00397051 ••• JPM initiate VSVS (ow), upgrade IAG LN, GS downgrade NAUR NO, add FLUG AV to CL buy, BofAML adds BAY GY to Europe list ••• Commerzbank Steel Sector: (downgrade SZG GY & VOE AV), Barclays downgrades FUM1V FH, VER AV, SPM IM & upgrades TEC
nks Face Tougher Standards WSJ • Koch Brothers Angle for Bigger Role in Wall Street Deals WSJ • Cosco Group Chairman Wei Jiafu Steps Down WSJ • Tokyo's New Economic Policy Mix Stirs Hope and Fear, Poll Shows WSJ • Portugal's Government Thrust Into Turmoil WSJ • Brazil's President Proposes Overh
N ••• UBS make AVV LN most pref stock — replaces FENR LN, HSV LN least pref stock — replaces RSW LN ••• MS resume LSE LN (ow), DB downgrade ADS GY, BofAML upgrade UHR VX, Numis downgrade DOM LN ••• JPM downgrade BMW GY, APPC AB, upgrade PETROCH AB, NOK1V FH, Exane downgrade FME GY • Nomura upgrade ELI
ging" them to increase lending efforts to non- traditional industries and to help support domestic consumption. The Nikkei reversed earlier losses as Tokyo Electron (+7.1%) led chip- equipment makers higher and exporters rebounded on a weaker JPY as BOJ Governor Haruhiko said global policy makers would
oved, upgrade TCELL TI, TRMK RM, PHOR RM, SZG GY, downgrade TAVHL TI, SHI LN • Barc initiate KYG ID (ow), Citi upgrade TNET BB, CS downgrade SW FP, BofAML remove SOLB BB from Europe 1 list e DB upgrade UBSN VX, BNP FP, GS add MC FP, BRBY LN, REE SM, ITX SM to cony buy list — SFER IM removed • HSBC upg
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