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Japan steelmakers cut profit forecast as weak Asian markets trim margins

TOKYO: The top three Japanese steelmakers reduced their annual profit forecasts this month as slumping steel prices in Asia eroded their export margins while slower auto demand overseas and falling usage in machinery at home forced them to cut output.

A record US$173bil flowing from S. Korea into risky assets

SEOUL: A hunt for yield is prompting South Korean investors to pile tens of billions of dollars into unconventional assets abroad, raising risks of losses on unfamiliar products.