East Asia Tonight - Tue 3 Jun 2025
48:38 Min
Spotlight on East Asia, a region steeped in history and now helping to write the future of our world. We'll break down the key stories and explain why they matter.
East Asia Tonight
About the show:
'East Asia Tonight' shines a spotlight on a region steeped in history and now helping to write the future of our world. Greater China, Japan, and the Korean Peninsula have economic and political might, and are major drivers of daily news and business. We'll break down the key stories and explain why they matter.
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CNA
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Japan's Eneos says unplanned shutdown begins at 77,000-bpd unit at Kawasaki
TOKYO :Japan's biggest refiner, Eneos Corp, experienced an unplanned shutdown of the 77,000 barrels-per-day No.3 crude distillation unit at its Kawasaki refinery near Tokyo, starting June 4, a company spokesperson said on Thursday. The company declined to provide a reason for the shutdown or an expected timeline for resuming operation. The refiner, part of Eneos Holdings, restarted another crude distillation unit, the 105,000-bpd No.3 CDU at its Mizushima-B refinery in western Japan on June 3, following a scheduled turnaround that began on February 26, the spokesperson said. At the same refinery, the company had resumed operations at the 95,200-bpd No.2 CDU on May 16 after an unplanned shutdown that started on April 24. Also on May 16, Eneos shut the 141,000-bpd CDU at its Sakai refinery in western Japan for scheduled maintenance, with plans to restart it in early July, the spokesperson added.
CNA
6 hours ago
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Late Behich strike puts Australia on brink of World Cup
Left back Aziz Behich scored a last-minute winner as Australia moved to the brink of qualification for the 2026 World Cup with a 1-0 win over Japan in Perth on Thursday. With time running out, Behich pounced on Riley McGree's cut back and turned to lash the ball into the net to the delight of a crowd of 57,226 that had endured a laboured performance from the Socceroos. Australia remain in second place in Group C behind the already qualified Japanese and will go through to the finals if third-placed Saudi Arabia fail to beat Bahrain in Riffa later on Thursday. Even if the later result in Bahrain goes against them, Australia's superior goal difference means they will progress to a sixth successive World Cup with anything barring a heavy defeat when they meet the Saudis in Jeddah next Tuesday. "It's a great feeling," said Behich. "It was a tough game. We knew we had to grind it out. The boss at halftime said no matter how tough it gets, we'll get our opportunity if we stick to it. And fortunately enough, it fell for me." Australia's first win over Samurai Blue in 16 years and Japan's first international loss since February last year looked highly unlikely for 89 minutes until Behich struck. Japan, who were the first country to qualify for the World Cup, rested most of their top players and fielded a team with three debutants but still dominated possession as Australia struggled to get a foothold in the contest. Outworked and starved of the ball, the Socceroos won their first corner after half an hour which resulted in their first shot, a glancing header wide from Connor Metcalfe. For all their possession, the Samurai Blue produced little to trouble Mat Ryan in the Australia goal with new cap Yu Hirakawa coming closest to scoring with a low shot that flew past the post in the 37th minute. Australia coach Tony Popovic made two changes at halftime to try and secure more possession but his players continued to chase shadows as Hajime Moriyasu's young team stroked the ball around. The Japanese still lacked a cutting edge up front even after a bit more experience came off the bench and substitute Takefusa Kubo beat Ryan but missed the target with a great opportunity in the 80th minute. Australia never gave up, however, and substitute midfielder McGree finally produced a moment of quality to turn his defender and get to the byline before pulling the ball back for Behich to score the goal.
CNA
8 hours ago
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Japan's 30-year bonds rise as weak auction adds to pressure to curtail issuance
TOKYO : Japan's 30-year government bond prices rose after the weakest auction of the securities in more than a year added to pressure on the Ministry of Finance to reduce supply of super-long notes. The bid-to-cover ratio, a measure of demand that gauges the number of bids against the amount of securities on offer, fell to 2.921, the worst since December 2023, and was down from 3.074 at the prior sale in May. The auction followed a weak outcome of the 40-year bond sale last week, and was a gauge for demand in so-called super-long bonds, whose yields hit record highs in May after heavy sell-offs. "Investors bought the bonds as they thought the 30-year bonds had become cheap," said Miki Den, a senior Japan rate strategist at SMBC Nikko Securities. "But fundamentally, the sentiment was supported by the expectations that the finance ministry may cut the issuance of super-long bonds," he said. The finance ministry could reduce the sale amounts as early as July, after hearing opinions from primary dealers at a meeting scheduled later this month, strategists said. Expectations for the move rose after Reuters reported last week the Ministry of Finance is considering reducing its sales of super-long bonds. The 30-year JGB yield trimmed losses soon after the auction, but fell as much as 7 basis points to 2.875 per cent. It was last down 6 bps at 2.885 per cent. Bond yields move inversely to prices. Keisuke Tsuruta, a senior fixed income strategist at Mitsubishi UFJ Morgan Stanley Securities, said some investors probably rushed to buy back the securities to cover their short positions. "They needed to do so before bond prices rise further," he said. Yields across tenors fell, with the 10-year JGB yield slipping 4 bps to 1.46 per cent. The five-year yield fell 3.5 bps to 1.005 per cent. The 20-year JGB yield fell 7 bps to 2.355 per cent.
