SESC officials are reportedly paying special attention to capital increases totaling 64 billion yen that IHI reported in January and February 2007.

Bloomberg news service reported today that Takeda Pharmaceuticals Company applied to the U.S. Food and Drug Administration to sell Alogliptin as a daily treatment for type-2 diabetes. The new drug is poised to replace Astos and hedge against future losses when Astos pills patent expires in 2011.

Analysts believe the new drug might begin selling in 2009, generating $2 billion per year. Takeda closed down 6.9%.

Nippon Telegraph and Telephone fell on Nikkei News reports the company will cut leasing fees for its fiber optic lines by 7% for the fiscal year starting April. Spokesman for regional unit NTT East Corporation Masaya Suzuki and Yasuhiro Lida for NTT West said they will file proposed new rates with the telecommunications industry by January 15.


5:00AM New York, 9:00PM Sydney- ASX 200 index gained 0.3% after gains in resource stocks

ASX 200 index gained 0.2% or 12.80 to close at 6,385.40.

The Preliminary market turnover was 1.61 billion, worth a total $3.77 billion, with 640 stocks moving up, 549 moving down, and 336 unchanged.

The most actively traded stock was Gondwana Resources with 131.7 million shares worth $3.3 million.

National Australia Bank Ltd and Australia & New Zealand Banking Group Ltd set the tone for other banks by becoming the first two banks to respond to the global credit market turmoil by increasing their interest rates on mortgages to recover higher funding costs, without action from the central bank.

Australia''s biggest lenders last raised home loan rates without any action from the central bank over ten years ago. National Australia Bank hiked its variable rate for home loans by 12 basis points to 8.69% while ANZ, raised the borrowing charge for some of its products by 25 basis points to 8.44% and 8.54%.

The central bank last increased its key rate by a quarter of a percentage point, or 25 basis points in November resulting in its benchmark rate rising to an 11-year high of 6.75% as it sought to stem inflation after concerns that the economy''s expansion was likely to be inflationary.

Westpac and Commonwealth Bank of Australia officials said the two banks were also reviewing their charges. National Australia Bank gained 1%, ANZ rose 0.3%, Commonwealth gained 0.5% percent and Westpac banking was up 0.2%.

Centro Properties Group today disclosed that it has just 50% of its Australian dollar borrowings hedged and 40% of its U.S. dollar borrowings. The latest development comes after the group''s failure to extend interest rate hedges on its debt.

The Group said that any interest rates changes might result in a cut in its earnings. Centro the Australian owner of U.S. malls that put itself up for sale and invited bids of its assets as it struggled to raise money to refinance its $3.9 billion of debt.

The group lost 90% of its market value over two days in December resulting in it becoming the worst Asian casualty of the global credit squeeze. Centro shares closed up 14.7% and Centro Retail Group rose 2.6%.

Energy Resources of Australia Ltd today indicated that it has been forced to halt mining activities at its Ranger operation in the Northern Territory due to heavy rain from Tropical Cyclone Helen.

The Australian Bureau of Meteorology indicated that tropical Cyclone Helen may cross the coast and move closer to Ranger and Alcan Inc.''s Gove alumina refinery as early as tonight.

Energy Resources missed contracted deliveries last year after a flood at Ranger stopped production in February. The company''s share fell 0.2% after rising as much as 2.1% during trade.

Rams Home Loans said it has completed the sale of its brand and distribution business to Westpac. The company was Australia''s first high profile casualty of the subprime crisis.

RAMS Home Loans Group has been renamed RHG Ltd with effect from today. RAMS outgoing chief executive Greg Kolivos has been replaced by Glenn Goddard.