News Today - July 27

* Tokyo's benchmark index Nikkei reclaims psychologically key 10,000 level, with Japan brokerages higher on a report tipping strong earnings.

* South Korea's key consumer sentiment index hit its highest in nearly seven years, central bank data showed on Monday, raising further questions about how long the government's accommodative policy would be maintained.

* For the first time since the Great Depression, the US economy will have contracted for four consecutive quarters, economists said in advance of the government's first estimate for second-quarter gross domestic product.

* The US jobless rate is likely to stay high even once the nation exits recession some time in the next few months, Federal Reserve Chairman Ben Bernanke said on Sunday.

* Japan’s corporate service prices fell at a record pace in June as companies reduced spending, adding to evidence deflation may again be taking hold in the world’s second-largest economy.


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