The Traderszone Network

WASHINGTON/DETROIT (Reuters) – The top U.S. auto safety regulator on Tuesday imposed a relatively modest $70-million fine on air-bag supplier Takata Corp (7312.T) and ordered it to stop making inflators that use ammonium nitrate. The National Highway Traffic Safety Administration cited the chemical as a factor in explosive air-bag ruptures that caused seven deaths and nearly 100 injuries in the United States. NHTSA said millions of cars equipped with potentially defective Takata air bags may not be repaired until the end of 2019 because not enough replacement parts are available.

TransCanada Corp (TRP.TO) is pushing ahead to develop Energy East, an all-Canadian alternative pipeline project to its struggling U.S. Keystone XL pipeline, and will soon reveal the location of a new export terminal. TransCanada’s chief executive officer said the company was preparing to work with Canada’s new Liberal government on Energy East as it reviews the country’s regulatory regime. The comments came a day after TransCanada asked the U.S. government to delay its decision on the controversial Keystone project, a move seen pre-empting a possible rejection by U.S. President Barack Obama.

Japan data from Nikkei/Markit
Services PMI, 52.2
– prior was 51.4
Composite PMI, 52.3
– prior was 51.2
– Business activity at services firms increases at second-sharpest rate in over a year
Comment from Amy Brownbill, economist at Markit:

Why the online real estate maven is nicely positioned for sustainable growth.

Opening indications for Chinese stockmarkets
– Shanghai Comp to open up 0.3%
– CSI300 index to open +0.3%

 USD/JPY is ticking up toward and slightly above the overnight high

The Japan post IPO(s) has gone off successfully, with opening delayed due to the huge number of bids, and the opening prices have reflected this, trading higher

Yuan reference rate
– yesterday was set at 6.3310
– yesterday’s close was 6.3366
“Go ahead, try to take it further than +/-2% … make my day”: PBOC