The comments made by the Bank of Japan has provided world with positive hopes of recovering from the global financial crunch. Today, the Bank said that the economy of the overseas countries would shortly witness recovery as they will stand firm against the prevalent trend of global meltdown.

None country has been saved from the devastating impact of global crisis. But the Asian markets, in the recent times have been hot really hard by the global financial crunch. The market analysts have informed that the downturn in the Asian market has pushed the investors to withdraw themselves from investing.

It has been reported that Ichiro Ozawa, a former ruling-party leader’s condition is critical as he has admitted to hospital last night because of kidney stone problems. It has been informed that Ozawa would be required to hospitalize for a period of week.

It has been reported that Japan’s battery giant, Panasonic Corp. is planning to place halt on expansion of its battery manufacturing unit. Due to growing competition with South Korean rivals, Japanese battery manufacturer ‘Panasonic Corp.’ has succumbed to low demand.

Earlier, Panasonic Corp. was planning of investing ¥100 billion at its Suminoe plant located in two different states Osaka and western Japan. Suminoe plant produces lithium-ion batteries which are majorly used in consumer electronics.

The devastating earthquake in Japan, which shook the whole economy, is still revoking the country from overcoming the devastation. It has come to light that soon, the dominating political party of the country would be selling its stakes in Japan Tobacco Inc. to raise funds for repairing damages.

Last week, the MSCI Asia Pacific Index cited low as figures were down by 5.7% to 111.73. On Thursday, the index cited 4.1% fall that added majorly in counting the entire loss which had almost all significant short-term technical indicators in negative position, including absence of an oversold signal.

Asian stocks boosted as the inventors favored the stocks based on international economic development and the exporters of Japan were eased by the fall of Yen.

According to reports, Wen Jiabao, Chinese Prime Minister, recently claimed that he was very happy for the Japan's newly elected Prime Minister Yoshihiko Noda.

While sharing his views about new Prime Minister he asserted that he certainly believed that the new chief would continue to maintain the good relationships between both countries.

According to the grapevine, he was left unsaid when he was asked about the China’s and other Asian nations concerns regarding Noda's opinions on Japan's wartime inheritance controversies.

According to reports, Japan’s Finance Minister Yoshihiko Noda could probably become the next Prime Minister of the country, as he has been selected as the leader of the major Democratic Party in the country.

In what would be the first large-scale acquisition of a major Japanese consumer appliance business by a Chinese company, Haier is all set to acquire Panasonic’s Sanyo brand washing machine and refrigerator business in Japan and Southeast Asia.

Sanyo Electric Co. Ltd. is a subsidiary of the Panasonic Group and is a global corporation manufacturing energy and environmental products for consumer and commercial use.

Panasonic Corporation has confirmed the acquisition. However, the terms of agreement have not been disclosed yet.