surpassing "1 million times per day"

June 10, 2021 (Thursday) Clear weather Mercury retrograde (5/30–6/23) New Moon

・Prime Minister Yoshihide Suga is increasingly expected within the government and ruling party to dissolve the House of Representatives in September.

He plans to prioritize vaccination as the trump card against COVID-19, assuming a lower level of infections and a House of Representatives election then.

He also orders the drafting of a large-scale economic stimulus by summer to pursue recovery of the economy and employment hit by the corona crisis.

・In the party leadership debate on the 9th, Prime Minister Suga stated that all who wish will be vaccinated by October–November regarding the COVID-19 vaccine.

For the first time, he indicated the target to complete vaccination including the general population under 64 years old.

At the end of June, he forecast that the cumulative number of vaccinations could exceed 40 million, and that the elderly, who are at greater risk of severe illness, would be fully vaccinated by July.

・The government will expand the senior residents' eligibility for vaccination reservations at large-scale vaccination centers operated by the Self-Defense Forces nationwide.

Because there are many vacant slots, the restriction to seniors 65 and older will be removed, and the Tokyo venue will no longer be limited to the Tokyo metropolitan area; Osaka venue to the Kansai region’s 2 prefectures and 1 city will also be removed.

The government will announce soon. A nationwide system to reserve within the week will be prepared.

・Kewpie <2809> [Closing price 2,549 yen] Developed an “egg product” that does not use eggs.

A substitute “scrambled eggs” using soy as the main ingredient will be launched domestically in late June.

Responding to consumer health and environmental concerns, demand for plant-derived “alternative eggs” is rising.

This is the first time a domestic food maker will sell substitute eggs. Initially sold to the foodservice sector, such as hotels and restaurants.

Price will be about three times that of conventional industrial scrambled eggs.

・In China, production costs are rising, and pass-through to final products has lagged.

The May producer price index rose 9.0% year over year, but the consumer price index (CPI) rose only 1.3%.

The government is tightening price controls as rising prices for daily necessities fuel public discontent, contributing to worsening corporate profitability.

The National Bureau of Statistics of China reported on the 9th that the rise in the PPI was the largest since September 2008, 12 years and 8 months ago.

・The governments of Japan and Australia held a U.S.-led 2+2 (foreign and defense) ministerial meeting online on the 9th.

The joint statement expressly notes “the importance of peace and stability across the Taiwan Strait.”

As a US ally, Japan and Australia’s cooperation on security will serve as a frontline in deterring China.

・The leaders’ declaration of the G7 summit to be held in the United Kingdom on the 11th–13th is being adjusted to include support for the Tokyo Olympic and Paralympic Games.

Within the Japanese government, there is a view that securing backing from each country at the summit could raise momentum toward hosting the events.

・Regarding the additional weekly unemployment benefits of $300 (about 33,000 yen) decided by the U.S. federal government as part of COVID-19 measures,

governors in 25 states have announced they will end them sooner than the originally planned early September start.

There is a concern that generous benefits encourage people not to work, leading to labor shortages.

The 25 states account for more than 40% of the total population.

・Domestic fire insurance premiums are rising, and a roughly 10% increase is expected for fiscal year 2022, the largest ever.

This would be the third price increase over four years, with the rise totaling more than 20% during this period.

・El Salvador’s legislature on the 8th passed a bill making Bitcoin a legal tender with an overwhelming majority.

Adopting Bitcoin as legal tender enables tax payments in Bitcoin.

・In the stock market, price increases of established manufacturers focusing on electric vehicles (EVs) stand out.

Stock prices of Germany’s VW and U.S. GM rose 50–80% in 2021, showing better performance than EV-only players like Tesla.

・U.S. electric vehicle (EV) startup Rose Town Motors reported to the SEC on the 8th that doubts arose about the “going concern” assumption.

・Resorts in Hainan Island, known as “China’s Hawaii,” attract attention from overseas brands.

China’s government-led expansion of a tax-free market targeting domestic customers has prompted brands like Shiseido <4911> [Closing price 8,050 yen] and LVMH Moet Hennessy Louis Vuitton to accelerate store openings and exhibitions.

・On the 8th, the U.S. Senate approved a bill to invest $29 billion (about 3.2 trillion yen) in advanced technologies including artificial intelligence (AI) and quantum computing.

Large subsidies for semiconductors are included. To counter China in high-tech fields, government–private sector collaboration in R&D is emphasized.

・As of 4 p.m. on 6/9, the number of new COVID-19 cases worldwide (deaths day over day) summarized by Johns Hopkins University: 174 million globally (9,976 new deaths)

U.S. 33,391,092 (374) India 29,089,069 (2,219) Brazil 17,037,129 (2,378) France 5,781,556 (75) Turkey 5,300,236 (86) Russia 5,086,386 (372)

UK 4,544,372 (14) Italy 4,235,592 (102) Argentina 4,008,771 (721) Germany 3,712,595 (107) Spain 3,711,027 (73) Colombia 3,611,602 (427)

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