Mutual funds in China surge to $3.75tn amid Evergrande crisis

TOKYO/SHANGHAI -- While the China Evergrande Group debt crisis has roiled Chinese financial markets, China's version of Twitter has become alive with posts talking up mutual funds.

"99.99% of people should buy mutual funds instead of picking stocks on their own," read one message on Weibo.

"These are the reasons why I recommend mutual funds rather than single stocks," another user wrote.

These trends, which have been observed over the past year, illustrate how publicly offered mutual funds


Tokyo Tower to headline new retail district in Japan's capital

TOKYO -- Opened in December 1958 as a multipurpose radio tower, the 333-meter high Tokyo Tower has stood as a landmark of the capital for over six decades.

But with the taller Tokyo Skytree (634 meters) opening in 2012, taking over the role as the main broadcasting facility, Tokyo Tower is looking for a new purpose in its second life.

Real estate developer Mitsui Fudosan has been tasked with developing the area around the red-and-white tower


Turkey's Erdogan orders 10 ambassadors to get out, including U.S. envoy

ISTANBUL -- Turkish President Recep Tayyip Erdogan said on Saturday that he ordered Foreign Minister Mevlut Cavusoglu to remove 10 Western ambassadors from the country, including envoys from the U.S., Germany and France for saying a detained civil society leader should be released.

"I gave the order to our foreign minister and said what must be done: These 10 ambassadors must be declared persona non grata at once. You will sort it out immediately. They should know and understand Turkey. The day they do not know


China law tightens land borders amid regional tensions

BEIJING -- China’s top legislative body on Saturday passed a law to strengthen the country's land borders amid rising tensions with India over disputed territory and concerns over a possible influx of Islamic extremists from Afghanistan.

The move comes as authorities look to prevent border incidents flaring in the run up to a once-every-five-years congress in the fall of 2022 to decide the Communist Party's top leadership.

Under the new law, the People's Armed Police Force and the Public


Japan defense minister warns of Crimea-style invasion of Taiwan

TOKYO -- In a veiled reference to China's recent aggressive moves on Taiwan, Japan's defense minister pointed to Russia's annexation of Crimea as an example of how an invasion can begin without deploying troops.

Russia's act was an "illegal annexation of Crimea," Nobuo Kishi said on Friday in a video message to the 18th CSIS/Nikkei Symposium. "An invasion may begin without anyone realizing it, and a war may be fought without the use of military forces."

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China to create rare-earths giant by joining three state companies

CHONGQING, China -- China will restructure three rare-earths producers to create a state-owned company with a nearly 70% share of the domestic production quota for the metals that are essential to manufacturing high-tech products.

The move is aimed at accelerating the development of resources and processing technology, as well as strengthening Beijing's control over the mining sector in anticipation of prolonged trade tensions with Washington.

By restructuring the country's major rare-earth companies, the government seeks to extend control from production


China, Russia ships needle through Japan's southern chokepoint

TOKYO -- Four days after passing through a maritime chokepoint in northern Japan, 10 Chinese and Russian warships have now sailed through a southern chokepoint, in effect circumnavigating the nation in an unprecedented provocative move.

In a statement, Japanese Defense Ministry's Joint Staff said 10 vessels passed westward through the Osumi Strait between Osumi Peninsula and Tanegashima Island, both in the southern prefecture of Kagoshima, on Friday. Tokyo said this was the first time Chinese and Russian ships have jointly sailed through the Osumi Strait.

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Dam, that's beautiful: Infrastructure tourism gains steam in Japan

MITO, Japan -- As Japan's tourism sector plots a comeback from a coronavirus-induced chill, one Tokyo-based company aims to give the curious public an inside look at dams, power stations and other infrastructure that make daily life possible.

Club Tourism International recently opened up applications for one-day bus tours to neighboring Ibaraki Prefecture, where officials will give a handful of guests access to facilities normally closed to the general public.

Its Nov. 17 tour, which is capped at 10 people,

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Tokyo Tower to headline new retail district in central Tokyo

TOKYO -- Opened in December 1958 as a multipurpose radio tower, the 333-meter high Tokyo Tower has stood as a landmark of the capital for over six decades.

But with the taller Tokyo Skytree (634 meters) opening in 2012, taking over the role as the main broadcasting facility, Tokyo Tower is looking for a new purpose in its second life.

Real estate developer Mitsui Fudosan has been tasked with developing the area around the red-and-white tower


Leni Robredo's candidacy has been worth the wait

Criselda Yabes is a journalist based in the Philippines. She is author of "The Battle of Marawi," her 10th book, which was published last year.

Belittled and derided by President Rodrigo Duterte, Philippine Vice President Leni Robredo's decision to seek the presidency in next year's elections has, quite unexpectedly, unleashed a pink wave.

Announcing her candidacy, Robredo pinned a pink ribbon to her pale blue top, colors that evoked -- whether intentionally or subliminaly -- the robes worn by statues