Kenya hospital imprisons new mothers with no money


NAIROBI, Kenya (AP) — The director of the Pumwani Maternity Hospital, located in a hardscrabble neighborhood of downtown Nairobi, freely acknowledges that he detains mothers who can't pay their bills.


Lazarus Omondi says it's the only way he can keep his medical center running. Now, a New York-based group filed a lawsuit this month in hopes of forcing Pumwani to stop the practice.


Two mothers who live in a mud-wall and tin-roof slum near the maternity hospital said Pumwani wouldn't let them leave after delivering their babies. The bills the mothers couldn't afford were $60 and $160. Guards with sticks would beat mothers who tried to leave without paying, one of the women said.


Omondi says one solution to the problem would be a national health insurance program.


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Stock futures edge up with effort to break "cliff" deadlock

NEW YORK (Reuters) - Stock index futures edged higher on Thursday, putting the S&P 500 on track to snap a three-day skid, as U.S. President Barack Obama returned to Washington to restart negotiations over the "fiscal cliff."


Obama cut short a Christmas holiday in Hawaii to fly back to the capital and make another push for a deal between Democrats and Republicans to head off devastating tax hikes and spending cuts set to begin on January 1.


In a sign of a possible way to break the deadlock in Congress, Republican House Speaker John Boehner said if the Democrat-controlled Senate were to pass a bill, the House would at least consider it.


"As we've seen this year, the market really trades on the last headline or the last sound bite that you get in spite of fundamental indicators," said Keith Bliss, senior vice-president at Cuttone & Co in New York.


"For this week, it's been all about when they are going to have a conversation and what that conversation is going to be like."


Treasury Secretary Timothy Geithner announced the first of a series of measures that should push back the government's debt ceiling by around two months.


Economic data expected on Thursday includes weekly initial jobless claims at 8:30 a.m. Economists in a Reuters survey forecast a total of 360,000 new filings, compared with 361,000 filings in the previous week.


Also due at 8:30 a.m. is the Chicago Fed Midwest Manufacturing Index for November.


Later in the session at 10 a.m., investors will eye December consumer confidence and November new home sales data. The Conference Board's main consumer confidence index is expected to show a reading of 70 versus the 73.7 reported in November while new home sales are expected to show a total of 378,000 annualized units.


The benchmark S&P 500 index has fallen 1.7 percent over the past three sessions as negotiations over the budget crisis have stalled, its longest losing streak since mid-November.


But the S&P has recouped nearly all of its declines suffered in the wake of the U.S. elections and is up 12.9 percent for the year, putting it on pace for its best year since 2009.


S&P 500 futures rose 2.4 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 4 points, and Nasdaq 100 futures gained 6.25 points.


Marvell Technology Group cut losses in premarket trading after it said it would seek to overturn a jury's finding of patent infringement. Marvell stock was down 3 percent at $7.18. Shares had fallen earlier after a federal jury found the company infringed two patents held by Carnegie Mellon University and ordered the chipmaker to pay $1.17 billion in damages.


European shares edged higher on Thursday, with mining stocks among the best performers, although concerns over the outcome of U.S. budget talks prevented many investors from taking on big, new equity positions. <.eu/>


Asian shares rose amid caution ahead of the U.S. fiscal negotiations, while the yen hit a 21-month low against the dollar on the prospect of drastic monetary easing and massive state spending.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)



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IHT Rendezvous: IHT Quick Read: Dec. 26

NEWS The Tea Party might not be over, but it’s increasingly clear that the U.S. election last month significantly weakened the movement, which had nearly captured control of the Republican Party through a potent combination of populism and fury. Trip Gabriel reports.

As Russia’s middle class becomes a force in commerce, G.M., Ford, Volkswagen and other automakers have been expanding, or plan to expand, in the country with new factories. Andrew E. Kramer reports.

Whether he stays in Damascus or tries to flee, President Bashar al-Assad has no easy options as Syria plunges deeper into chaos. Anne Barnard and Hwaida Said report from Beirut.

How did something as innocuous as the sugary pink polio vaccine turn into a flash point between Islamic militants and Western “crusaders,” flaring into a confrontation so ugly that Pakistani teenage girls — whose only “offense” is that they are protecting children — are gunned down in the streets? Donald G. McNeil Jr. reports.

ARTS As officials plan to expand the Buddenbrookhaus, a museum devoted to Thomas Mann, the challenge is how to make an author of weighty tomes approachable to coming generations weaned on Twitter messages and status updates. Nicholas Kulish reports from Lübeck, Germany.

On stages large and small, via new plays but also (very much so) the classics, the theater in London proved time and again in 2012 that it matters. Matt Wolf writes.

SPORTS Syd Fischer, an 85-year-old ocean-racing legend in Australia, is taking yet another shot at winning the Rolex Sydney Hobart Yacht Race outright, with his hand on the helm. Christopher Clarey reports.

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Giada De Laurentiis: My Daughter Still Believes in Santa

Giada De Laurentiis Jade Still Believes in Santa
Courtesy Giada De Laurentiis


The tree’s done. The stockings are hung. Giada De Laurentiis and her family — husband Todd Thompson and their daughter Jade Marie — are officially ready to host the holidays.


“Christmas Eve is the big tradition in an Italian family. It’s when my entire family gets together,” the newest face of Clairol tells PEOPLE exclusively.


“This year, for the first time, it will be held at my house … so Jade and I and my husband are very excited.”


On the menu for the family festivities is “a big fish dinner,” one that no doubt Jade will help her mother to prepare. After all, adds the celebrity chef, she is the unofficial taste tester.


“My daughter loves to cook. We have a lot of laughs together. I spend a lot of time in the kitchen and she loves hanging out with me,” De Laurentiis, 42, shares. “The reason she loves it so much is because she can stick her finger in everything and taste it as she goes along.”

Once the big dinner is done with, and the evening starts to wind down, De Laurentiis and Jade will start to prepare for the night’s biggest guest to arrive: Santa Claus. At 4½-years-old, her little girl is still a strong believer in the magic of it all, notes her proud mama.


“She leaves him little treats — for the reindeer and for him too — and she’s very much a believer in Santa,” De Laurentiis says. “I hope she’ll be a believer for a long time, I think it’s really fun for kids to be able to do that.”


Recently, the pair sat down to write out Jade’s wish list, but after much pleading on Jade’s part over the past few weeks, it’s no surprise as to what she hopes to find under the tree this year.


“The one thing she keeps asking me for over and over again is clip-on earrings. She must have seen them on somebody else, but she has asked me for clip-on earrings for the past month,” De Laurentiis notes. “I am on a mission to find clip-on earrings for her because I don’t think she’ll ever forgive me if I don’t.”


But based on her newly transformed play space, the “girly girl’s” specific accessory request should come as no surprise.


“She’s opened up her own little salon in her playroom. She gives free makeovers, she curls people’s hair and gives them little manicures as well,” De Laurentiis says. “I’ve always been a girly girl my whole life — maybe she will, maybe she won’t — but it’s a lot of fun to play with her right now.”


– Anya Leon with reporting by Kate Hogan


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Predicting who's at risk for violence isn't easy


CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.


Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.


But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.


"They're yellow flags. They only become red flags once the blood is spilled," he said.


Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.


Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)


Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.


Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.


"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."


The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."


In a guidelines for families, the academy lists several risk factors for violence, including:


—Previous violent or aggressive behavior


—Being a victim of physical or sexual abuse


—Guns in the home


—Use of drugs or alcohol


—Brain damage from a head injury


Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.


Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.


Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.


According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.


Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.


Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.


And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.


All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.


Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.


Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.


Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.


___


Online:


American Academy of Child & Adolescent Psychiatry: http://www.aacap.org


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


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Stock futures edge higher ahead of "cliff" talk resumption

NEW YORK (Reuters) - Stock index futures edged higher on Wednesday, indicating the S&P 500 may stem its worst two-day drop since mid-November, ahead of the resumption of "fiscal cliff" negotiations.


U.S. President Barack Obama is cutting short his Hawaiian holiday to leave for Washington on Wednesday to address the unfinished negotiations with Congress.


Obama is due to arrive in Washington on Thursday to resume talks on the cliff, a sharp rise in taxes and deep spending cuts due to begin on January 1 that could tip the U.S. economy into recession.


"This is what we've come to - the President might get on a plane today and this is what the markets might react to," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


"It's all about the fiscal cliff."


A Republican plan that failed to gain traction last week triggered the recent decline in the S&P 500 <.spx>, highlighting market sensitivity to headlines centered around the talks.


Investors will also look to housing data for signs of improvement in that sector of the economy, with the S&P Case/Shiller Home Price Index for October expected at 9 a.m. (1400 GMT).


Housing data has shown modest improvement in recent months, and continued strength could help support the sagging economy.


"The data is two months old, so it's interesting, but I don't know that people will react to it given these other more timely events," said Forrest.


S&P 500 futures rose 3 points and were slightly above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 17 points, and Nasdaq 100 futures climbed 3.25 points.


The benchmark S&P index is up 13.4 percent for the year, and has recouped nearly all of the losses suffered in the wake of the U.S. elections, when the fiscal cliff concerns moved to the forefront of investors' focus.


China's Sinopec Group and ConocoPhillips will research potentially vast reserves of shale gas in southwestern China over the next two years, state news agency Xinhua reported.


An outage at one of Amazon.com Inc's web service centers hit users of Netflix Inc's streaming video service on Christmas Eve and was not fully resolved until Christmas Day, a spokesman for the movie rental company said on Tuesday.


In Asian markets, the Nikkei moved to a new nine-month high but shares elsewhere in the region were capped in thin holiday trade, with investors focusing on the fate of U.S. negotiations to avert a budget crunch looming at the end of the year.


(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)



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Pope Prays for Freedom in China and Peace in Syria


Alessandro Bianchi/Reuters


Pope Benedict XVI blessed the crowd during his "Urbi et Orbi" address fin St. Peter's Square in Vatican.







ROME — Speaking from the balcony of St. Peter’s Basilica, Pope Benedict XVI called on Tuesday for religious freedom in China and peace for the “defenseless” in Syria in his annual Christmas Day message.




“May peace spring up for the people of Syria, deeply wounded and divided by a conflict which does not spare even the defenseless and reaps innocent victims,” Benedict said. “I appeal for an end to the bloodshed, easier access for the relief of refugees and the displaced, and dialogue in the pursuit of a political solution to the conflict.”


Wearing a short red cape lined with snow-white ermine and trimmed with gold embroidery, Benedict smiled as he offered Christmas greetings in 65 languages to thousands of the faithful in St. Peter’s Square. Marching bands from the Italian armed forces and the Carabinieri police played festive anthems. During Christmas Eve Mass on Monday evening, the 85-year-old pontiff had appeared tired and his voice hoarse, but on Tuesday he appeared more vivacious as he delivered the traditional message, “Urbi et Orbi,” to the city and the world.


He also addressed China, where in recent weeks the Vatican has been increasingly at odds with the government over the ordination of bishops, who cannot hold office without approval from the authorities, to the dismay of the Vatican.


“May the King of Peace turn his gaze to the new leaders of the People’s Republic of China for the high task which awaits them,” Benedict said. “I express my hope that, in fulfilling this task, they will esteem the contribution of the religions, in respect for each, in such a way that they can help to build a fraternal society for the benefit of that noble people and of the whole world.”


Aggravating tensions, the Chinese Catholic Bishops Council, a government entity, stripped Thaddeus Ma Daqin, 45, the auxiliary bishop of Shanghai, of his title this month, according to Catholic Web sites that cited sources in the Chinese church.


The bishop had been under house arrest since he shocked Communist Party officials and his faithful by renouncing his government position during his consecration in July. In recent years, the Chinese Patriotic Catholic Association, which does not recognize the authority of the pope, has consecrated a number of bishops over the Vatican’s objections, resulting in their excommunication.


On Tuesday, Benedict asked God to give Israelis and Palestinians the “courage to end long years of conflict and division, and to embark resolutely on the path of negotiation,” and he called for peace in Egypt, the “land where the Redeemer was born.”


The pope also urged “the return of peace in Mali and that of concord in Nigeria, where savage acts of terrorism continue to reap victims, particularly among Christians.” He prayed for “the refugees from the east of the Democratic Republic of Congo,” and for peace in Kenya, “where brutal attacks have struck the civilian population and places of worship.”


On Monday evening, communicating through his new Twitter handle, @pontifex, Benedict recalled that as a boy he loved his family’s Christmas crèche, and he asked his followers what their favorite Christmas traditions were. “The cribs that we built in our home gave me much pleasure,” his message read. “We added figures each year and used moss for decoration.”


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Mundie, one of Gates’ successors, to retire from Microsoft






NEW YORK (Reuters) – Craig Mundie, one of two Microsoft Corp executives who took over Bill Gates‘ role at the company, has relinquished control of Microsoft’s large research organization and is to retire from the company in 2014.


Mundie is taking on a new role as a senior adviser to Chief Executive Steve Ballmer, according to a memo circulated internally earlier this month but only made public on Monday.






Eric Rudder, another Microsoft veteran, is taking on responsibility for Microsoft Research, Trustworthy Computing, and the Technology Policy Group, which were all run by Mundie.


A 20-year Microsoft veteran, Mundie was one of two men hand-picked by co-founder Gates to take over leadership of the technical side of Microsoft when he retired from day-to-day work at the company in 2008.


Mundie took over responsibility for the company’s long-term research activities, while Ray Ozzie became chief software architect. Ozzie left Microsoft in 2010. According to Ballmer’s memo, Mundie will retire from Microsoft in 2014, when he will be 65.


Mundie’s new role was first reported on Monday by the All Things D tech blog.


(Reporting By Bill Rigby; Editing by Steve Orlofsky)


Tech News Headlines – Yahoo! News





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Predicting who's at risk for violence isn't easy


CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.


Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.


But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.


"They're yellow flags. They only become red flags once the blood is spilled," he said.


Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.


Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)


Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.


Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.


"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."


The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."


In a guidelines for families, the academy lists several risk factors for violence, including:


—Previous violent or aggressive behavior


—Being a victim of physical or sexual abuse


—Guns in the home


—Use of drugs or alcohol


—Brain damage from a head injury


Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.


Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.


Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.


According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.


Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.


Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.


And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.


All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.


Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.


Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.


Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.


___


Online:


American Academy of Child & Adolescent Psychiatry: http://www.aacap.org


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


Read More..

Yen on defensive on U.S. fiscal worry, helps Nikkei

TOKYO (Reuters) - Uncertainty over whether U.S. lawmakers will strike a deal by an end-of-year deadline to avert a severe fiscal retrenchment undermined the yen and bolstered Japanese shares on Tuesday in low volume, with many participants away on Christmas holiday.


The dollar rose to a 20-month high of 84.965 yen early on Tuesday in Asia, as Japanese markets caught up with global investors who had reacted overnight to incoming Japanese Prime Minister Shinzo Abe's weekend comments that raised the pressure on the Bank of Japan.


During a meeting on Tuesday with officials from Japan's major business lobby, Keidanren, Abe reiterated calls on the BOJ to conduct bold monetary easing to beat deflation by setting an inflation target of 2 percent.


The head of Abe's coalition partner said on Tuesday the coalition party and Abe had agreed to set a 2 percent inflation target and compile a large stimulus budget to help the economy return to growth and overcome deflation.


The yen has come under pressure as a result of expectations that the BOJ will be compelled to adopt more drastic monetary stimulus measures next year.


The dollar was expected to stay firm this week as investors repatriate dollars, and as the U.S. fiscal impasse is likely to continue to sap investor appetite for risky assets and raise the dollar's safe-haven appeal.


"The dollar is seen relatively well bid, with all focus on the fiscal cliff," said Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo.


"Negotiations may be carried over the weekend, but markets still expect a deal to be struck by December 31. It is unthinkable that the U.S. will risk driving its economic growth sharply lower by not agreeing to avoid it."


U.S. lawmakers and President Barack Obama were on Christmas holiday and talks were unlikely to resume until later in the week.


House of Representatives Speaker John Boehner failed to gain support for a tax plan at the end of last week, raising fears that the United States may face the "fiscal cliff" of some $600 billion in automatic spending cuts and tax increases set to start on January 1.


Japan's Nikkei stock average <.n225> resumed trading after a three-day weekend with a 1.1 percent gain, recapturing the key 10,000 mark it ceded on Friday after Boehner's failure sparked a broad market sell-off and the Tokyo benchmark closed down 1 percent. The Nikkei was likely to be supported as long as the yen stayed weak. <.t/>


"Ongoing optimism about the weak yen is lifting hopes that exporters' earnings will be better than expected," said Hiroichi Nishi, general manager at SMBC Nikko Securities.


Analysts say a near-term correction may be possible as the index is now in "overbought" territory after gaining 16.2 percent over the last six weeks, hitting a nine-month high last Friday. Its 14-day relative strength index was at 72.34, above the 70 level that signals an overbought condition.


MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> nudged up 0.1 percent, driven higher by surging Shanghai shares, as most Asian bourses were shut for Christmas.


The Shanghai Composite Index <.ssec> soared over 2 percent to five-month highs as investors bought property stocks on mounting optimism about the sector. Taiwan shares <.twii> jumped 1.3 percent on gains in technology and financial shares.



Asset performance in 2012: http://link.reuters.com/muc46s


2012 commodities returns: http://link.reuters.com/faz36s


^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>


U.S. HOLDS 2013 KEY


Goro Ohwada, president and CEO at Japan-based fund of hedge funds Aino Investment Corp, said investors were likely to focus on economic fundamentals and the United States for cues on investment direction in 2013.


"There is a feeling that an investment strategy based on economic fundamentals may finally work next year, with asset prices more closely reflecting fair value. The problem is, we don't know yet which asset is a better bet than others," Ohwada said, adding that oil and gold appeared to be near their highs.


Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory, said commodities and energy prices will likely move in tight ranges in 2013, with investors eyeing political events, including the U.S. fiscal cliff outlook, Italian parliamentary election set for February 24-25, and Germany's elections in September.


"The macroeconomic policies taken this year around the world to support growth are expected to result in a moderate recovery in 2013 to reduce an excessive downside risk to prices. This will likely keep commodities, gold and energy prices near their highs," Niimura said.


(Additional reporting by Ayai Tomisawa in Tokyo; Editing by Edmund Klamann and Daniel Magnowski)



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