Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Koryx Copper Inc. V.KRY

Alternate Symbol(s):  KRYXD

Koryx Copper Inc. a Canada-based mineral exploration and development company. The Company is in the business of exploring and evaluating mineral properties located in Africa. Its Haib copper project is located in the south of Namibia. The Haib project lies approximately 12 to 15 kilometers (km) east of the main tarred interstate highway connecting South Africa and Namibia and the nearest railway station is at Grunau, approximately 120 km north on the main highway. It also holds three copper exploration licenses in the center of the Zambian Copper belt, which includes Luanshya West project (license 23246), Chililabombwe Project (license 23247), and Mpongwe project (license 23248). The license 23246 covers approximately 5,423.26 hectares (54.24 square kilometers (Km2)). The license 23247 covers approximately 2,200 hectares (22.5 km2). The license 23248 covers approximately 67,500 hectares (675 Sq. Km).


TSXV:KRY - Post by User

Bullboard Posts
Post by member321on Mar 17, 2011 10:00pm
157 Views
Post# 18302697

Nikkei Up - G7 Pledge Yen Intervention

Nikkei Up - G7 Pledge Yen Intervention

Japan stocks jump on G7 pledge to intervene

tokyo_stock_prices.gi.top.jpgBy Ben Rooney, staff reporter


NEWYORK (CNNMoney) -- Stocks in disaster-stricken Japan opened higherFriday after finance ministers from the Group of Seven nations announceda coordinated intervention in the currency market to prevent the yenfrom rising further.

The Nikkei 225index, the most prominent measure of stocks traded in Tokyo, climbed260 points, or 2.9%, shortly after the market opened. The Hang Senggained 0.5%, while the Shanghai Composite was flat.


Authoritiesof the United States, the United Kingdom, Canada and the EuropeanCentral Bank said in a statement that they will join with Japan in"concerted intervention in exchange markets."

"As we have longstated, excess volatility and disorderly movements in exchange rateshave adverse implications for economic and financial stability," theministers said in the statement. "We will monitor exchange marketsclosely and will cooperate as appropriate."

The yen, considered asafe haven by global investors, has been driven higher in recent days byuncertainty and speculation that more cash will flow into Japan as itrebuilds.

But a strong yen is a serious threat to Japan'sexport-driven economy, since it undermines profits for Japanesecompanies that do business overseas.

The Japanese stock market hasalso been roiled by uncertainty this week, with investors struggling tocomprehend the implications of last week's devastating natural disasterand the resulting crisis at a crippled nuclear power plant.

The Nikkei fell 1.4% in Thursday's session,giving back some of Wednesday's gains. On Tuesday, the index plunged10.6%, marking the third worst one-day plunge in the Nikkei's history.

Aftera massive earthquake and tsunami devastated the northern part of thecountry, workers at Japan's Fukushima Daiichi nuclear power plant havebeen struggling to cool damaged reactors.

The Tokyo Electric PowerCompany said early Friday that water dumped by helicopters, fire trucksand police water cannons was "somewhat effective" in cooling thecrippled reactors, housed in a facility located about 138 miles north ofTokyo.

In the currency market, the yen stabilized against the U.S. dollar Thursday after surging to an all-time high on Wednesday.The retreat came amid speculation that the Bank of Japan will soonintervene in the market to curb the yen's rise by selling the currency.

Foran economy facing a tough road ahead, a weaker currency would be a goodthing. A stronger home currency would make Japanese goods moreexpensive in overseas markets, to the detriment of Japan's manufacturingindustry.

Under normal circumstances, intervention would be frowned on by other central bankers.

In the United States, stocks closed broadly higher Thursday, after two days of heavy losses on Wall Street, as investors cheered an upbeat outlook from economic bellwether FedEx (FDX, Fortune 500).

-- CNNMoney's Charles Riley contributed to this report.To top of page

Bullboard Posts