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Japan June Current Account Surplus Y934.6 Billion

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Japan posted a current account surplus of 934.6 billion yen in June, the Ministry of Finance said on Tuesday.

That beat forecasts for a surplus of 860.5 billion yen following the 1,653.9 billion yen surplus in May.

The trade balance showed a surplus of 518.5 billion yen, shy of expectations for 571.5 billion yen following the 115.1 billion yen deficit in the previous month.

Exports were up 9.0 percent on year to 6.370 trillion yen, while imports jumped an annual 15.1 percent to 5.852 trillion yen.

The capital account showed a deficit of 14.5 billion yen, while the financial account saw a surplus of 1.343 trillion yen.

The adjusted current account showed a surplus of 1,522.5 billion yen versus expectations for 1,502.9 billion yen and up from 1,400.9 billion yen a month earlier.

For the first half of 2017, the current account surplus was 10.510 trillion yen, up 0.3 percent on year.

Also on Tuesday, the Bank of Japan said that overall bank lending in Japan was up 3.3 percent on year, coming in at 516.253 trillion yen. That was in line with expectations and unchanged from the June reading.

Excluding trusts, bank lending advanced an annual 3.4 percent to 449.217 trillion yen. Forecasts had expected growth to hold steady at 3.3 percent.

Lending from trusts gained 2.7 percent on year to 67.036 trillion yen, slowing from 2.8 percent in the previous month.

Lending from foreign banks gained 0.4 percent to 2.065 trillion yen, slowing dramatically from 9.1 percent a month earlier.

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