The banks' joint statement on Friday was their strongest objection yet to plans by Minister for Financial Services Heizo Takenaka to make lenders write off bad debts choking the banking system of the world's second-largest economy.
On Thursday, Fitch Ratings said Japan's third-ranking AA credit rating may be cut next month if a plan to strengthen its banking system is delayed again or watered down.
Taiwan
Computer-related stocks in Taiwan may decline. Asustek, Taiwan's largest maker of boards connecting the chips that run computers, was downgraded to "reduce" from "hold" by UBS Warburg AG, which cited falling gross margins in the third quarter.
All Taiwan's publicly traded companies must report earnings by the end of the month.
South korea
The South Korean government plans to sell a part or all of its 80 percent stake in Chohung by the end of next month, Yonhap News reported on Friday, citing an unidentified senior finance ministry official.
Government-driven bank mergers may offset concerns that lenders' profits will be dented because of rising household debts, some investors said.
"Possible mergers will reduce unnecessary competition in the industry and increase the synergy among lenders," said Lee Young-ho, who oversees about US$406 million at Kyobo Investment Trust Management Co.
Hong kong
In Hong Kong, exporters such as Johnson Electric Holdings Ltd may gain after overseas sales rose more than some economists expected in September. The government said Friday that exports grew 10 percent from a year earlier, beating the 8.1 percent gain forecast by economists polled by Bloomberg News.
"Competition isn't so huge" for exporters that have based production in China and have increased their competitiveness in the international market, said Andrew Chak, who manages HK$2 billion (US$256 million) for China Everbright Assets Management Ltd.
His fund bought shares of Johnson Electric, the world's second-biggest maker of small electric motors, and other industrial stocks, in the week just ended.
Singapore
Singapore Air said Friday that net income in the half ended Sept. 30 rose to S$773.5 million (US$436 million), from S$134.8 million a year ago. That compares with the S$405 million mean estimate in a Bloomberg survey.
The company expects a tougher second half because of the threat of war in the Middle East, the bombings on the Indonesian resort island of Bali and increased competition in the cargo business.
Australia
Australia's BHP Billiton may drop. Some analysts expect the world's largest miner to say Thursday its first-quarter profit to Sept. 30 fell 12 percent as slowing US and European economies crimped demand for commodities. Copper futures on the New York Mercantile Exchange fell 15 percent in that period.
"BHP have certainly made comments that demand on the copper side isn't as robust as they'd like to see it," said Tim Barker, who holds the stock among the US$18.9 billion he helps manage at Sagitta Wealth Management Ltd.
He declined to say if he was buying more shares.
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