Wall Street extends losses after Reid comments


NEW YORK (Reuters) - Stocks fell to session lows on Thursday after Senate Majority Leader Harry Reid said that going over the fiscal cliff "looks like where we're headed."


Investors are worried that going over the cliff, a combination of tax hikes and spending cuts slated to take effect next week, could push the economy into recession.


The CBOE Volatility index <.vix> jumped 4.5 percent to 20.36, rising above 20 for the first time since July.


The Dow Jones industrial average <.dji> was down 86.17 points, or 0.66 percent, at 13,028.42. The Standard & Poor's 500 Index <.spx> was down 9.67 points, or 0.68 percent, at 1,410.16. The Nasdaq Composite Index <.ixic> was down 20.12 points, or 0.67 percent, at 2,970.04.


(Reporting by Ryan Vlastelica; Editing by Chizu Nomiyama)



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Russian Parliament Sends Adoption Ban to Putin





MOSCOW — The upper chamber of Parliament on Wednesday unanimously approved a bill to ban adoptions of Russian children by United States citizens, sending the measure to President Vladimir V. Putin, who has voiced support but not yet said if he will sign it.




Enactment of the adoption ban, which was developed in retaliation for an American law punishing Russians accused of violating human rights, would be the most severe blow yet to relations between Russia and the United States in a year marked by a series of setbacks.


Since Mr. Putin returned to the presidency in May, Russian officials have used a juggernaut of legislation and executive decisions to curtail United States influence and involvement in Russia, undoing major partnerships that began after the fall of the Soviet Union.


In September, the Kremlin ordered the United States Agency for International Development to cease operations here, shutting a wide portfolio of public health, civil society and other initiatives. And officials announced plans to terminate a joint effort to dismantle nuclear, chemical and other nonconventional weapons known as the Nunn-Lugar agreement.


Russia also passed a law requiring nonprofit groups that get financing from abroad to register as “foreign agents,” sharply curtailing the ability of the United States to work with good-government groups, and another law broadening the definition of treason to include “providing financial, technical, advisory or other assistance to a foreign state or international organization.”


The adoption ban, however, is the first step that takes direct aim at the American public and would effectively undo a bilateral agreement on international adoptions that took effect on Nov. 1. The agreement called for heightened oversight in response to several high-profile cases of abuse and deaths of adopted Russian children in the United States.


About 1,000 Russian children were adopted by parents from the United States in 2011, more than any other country, and more than 45,000 such children have been adopted by American parents since 1999.


Pavel Astakhov, Russia’s child rights commissioner, told news agencies on Wednesday that the ban, if enacted, could prevent the departure of 46 children who are ready to be adopted by parents from the United States. Some of those adoptions have already received court approval, he said. And some lawmakers said they believed that the bilateral agreement on adoptions with the United States would be void as of Jan. 1, even though Mr. Putin, at his annual news conference last week, said that changes to the agreement required one-year notice by either side.


The proposed ban has opened a rare split at the highest levels of the Russian government, with several senior officials speaking out against it. And it has provoked a huge public outcry and debate, with critics of the ban saying that it would most hurt Russian orphans, many of whom are already suffering in the country’s deeply troubled foster care and orphanage system.


In debate on Wednesday, lawmakers said that they felt an imperative to retaliate for a law signed by President Obama this month that will punish Russian citizens accused of violating human rights, by prohibiting them from traveling to the United States and from owning real estate or other assets there.


Lawmakers also said that Russia, which has more than 650,000 children living without parental supervision, should take care of them on its own. The vote in the Federation Council was 143 to 0.


“We need to set a plan for the future,” said Valery V. Ryazanksy, a senator from the Kursk region. Then, reiterating a slogan adopted by many lawmakers in recent days, he declared: “Russia without orphans!” Gennady I. Makin, a senator from Veronezh, gave it a slight twist: “Russia without orphanages.”


Several child-welfare advocates have mocked this sort of talk, noting that more than 80,000 children were identified as in need of supervision in 2011 and that the country had been unable to find homes for a vast majority of children eligible for adoption.


There were slightly more than 10,000 adoptions in Russia in 2011, about 3,400 of which were by foreigners.


In addition to banning adoptions by Americans, the bill approved on Wednesday would impose sanctions on American judges and others accused of violating the rights of adopted Russian children in the United States.


A number of cases involving the abuse or even the deaths of adopted Russian children in recent years have generated publicity and outrage in Russia, including a case in which a 7-year-old boy was sent on a flight back to Russia alone by his adoptive mother in Tennessee.


The Russian law was named for Dmitri Yakovlev, a toddler who died of heatstroke in Virginia in 2008, after his adoptive father left him in a parked car for nine hours. The father, Miles Harrison, was acquitted of manslaughter by a judge who ruled that the death was an accident.


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Carlyle takes on KKR in race for Reynolds and Reynolds: sources






NEW YORK (Reuters) – Private equity firms Carlyle Group LP and KKR & Co LP have emerged as the lead contenders to take over Reynolds and Reynolds, a software company hoping to sell itself for $ 5 billion, three people familiar with the matter said.


Dayton, Ohio-based Reynolds, which provides business management software for auto dealers in North America and Europe, had hired technology-focused investment bank Qatalyst Partners to run a sale, people familiar with the matter told Reuters in October.






The process has progressed and is now in its final stages, though no decision is expected before January, the sources said.


Reynolds may be sold to Carlyle or KKR for between $ 4 billion and $ 5 billion, less than the company had hoped, one of the people added.


The people spoke on condition of anonymity because the negotiations are confidential. Spokesmen for Reynolds, Carlyle and KKR declined to comment.


Reynolds sells software tools that allow car dealers to run their operations, including providing car dealer websites, digital advertising and marketing services, as well as data archiving.


Reynolds was founded in 1866 by Lucius Reynolds and his brother-in-law as a company that prints standardized business forms. It started to serve automotive retailers as major clients in the 1920s.


In October 2006, the company was acquired by Universal Computer Systems (UCS) for $ 2.8 billion. The merged company retained the Reynolds name and is currently headed by Chairman and Chief Executive Bob Brockman, who used to run UCS.


Brockman’s $ 2.8 billion buyout was funded primarily by a group of investors that included Goldman Sachs Capital Partners, the private equity arm of Goldman Sachs Group Inc, and Vista Equity Partners.


(Reporting by Greg Roumeliotis and Soyoung Kim in New York; editing by John Wallace)


Tech News Headlines – Yahoo! News





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Jennifer Aniston & Justin Theroux Spend Holidays in Mexico















12/26/2012 at 10:05 AM EST







Jennifer Aniston and Justin Theroux


FameFlynet (2)


While most hustled to finish up their last-minute shopping, Jennifer Aniston and fiancé Justin Theroux spent their Christmas Eve soaking up the sun.

With Aniston, 43, in a red bikini and Theroux, 41, in black shorts, the couple showed off their sculpted beach bodies while vacationing in Cabo San Lucas, Mexico.

Aniston is no stranger to Cabo – the We're the Millers actress spent Thanksgiving relaxing at the vacation spot with Chelsea Handler and some girlfriends.

She also celebrated her 41st birthday there last February with pals including Courteney Cox.

Aniston and Theroux celebrated the holiday season by throwing a star-studded party earlier this month. Demi Moore, Ellen DeGeneres, Portia de Rossi, Ben Stiller, Christine Taylor, Tobey Maguire, Jennifer Meyer and more celebrated at the duo's Beverly Hills rental home.

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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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Wall Street flat ahead of "cliff" talks restart

NEW YORK (Reuters) - Stocks were little changed on Wednesday ahead of the resumption of negotiations over the "fiscal cliff".


President Barack Obama, after vacationing in Hawaii, is due back in Washington early Thursday for a final effort to negotiate a deal with Congress to avert or at least postpone the cliff, a series of tax increases and government spending cuts set to begin next week.


"There is so little out there in terms of driving the market, it is so quiet and the horizon is just so blank, the only thing that could really bring the market any kind of movement is something as symbolic as the President's early return to Washington from his vacation in Hawaii," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.


"No one is hitting the panic button yet and part of that lack of panic selling is the notion that the Street is getting comfortable with the likelihood of a temporary fix for the fiscal cliff - something that gets us over the date of January 1 in a way where it can be re-addressed."


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


Data showed U.S. single-family home prices rose in October, reinforcing the view the domestic real estate market is improving, as the S&P/Case Shiller composite index of 20 metropolitan areas gained 0.7 percent in October on a seasonally adjusted basis.


The Dow Jones industrial average <.dji> gained 15.34 points, or 0.12 percent, to 13,154.42. The Standard & Poor's 500 Index <.spx> shed 0.31 points, or 0.02 percent, to 1,426.35. The Nasdaq Composite Index <.ixic> dropped 1.92 points, or 0.06 percent, to 3,010.68.


The benchmark S&P index is up 13.5 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.


Retailers will be in focus as data on the holiday shopping season begins to come in. Holiday-related sales rose 0.7 percent from October 28 through December 24, compared with a 2 percent increase last year, according to data from MasterCard Advisors SpendingPulse.


"The broad brush was Christmas wasn't all that merry for retailers and you have to ask what those margins look like if the top line didn't meet their expectations," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


The Morgan Stanley retail index <.mvr> slipped 0.8 percent.


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. Conoco shares edged up 3 cents to $58.47.


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.


Amazon lost 1 percent to $256 and Netflix shed 0.7 percent to $89.57.


(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)



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South Africa’s President Says Mandela Looking ‘Much Better’





JOHANNESBURG — President Jacob Zuma of South Africa gave a largely upbeat assessment on Tuesday of the health of Nelson Mandela, the nation’s first black president and anti-apartheid icon, who has spent more than two weeks in the hospital for a lung infection and gallstones.




Mr. Zuma said in a statement that Mr. Mandela, 94, “is looking much better” and that “the doctors are happy with the progress he is making.”


The president visited Mr. Mandela on Christmas morning at a Pretoria hospital along with Mr. Mandela’s wife, the children’s rights activist Graça Machel.


“We found him in good spirits,” Mr. Zuma said in the statement. “He shouted my clan name, Nxamalala, as I walked into the ward.”


Mr. Mandela has been in increasingly frail health, and his latest hospitalization has been the longest since he was released from prison in 1990. His health is closely watched; local news organizations have been camped outside the hospital.


He has suffered recurrent lung infections, a legacy of the tuberculosis he contracted in prison. The government tightly controls information about his condition, releasing only occasional updates. When Mr. Mandela was first hospitalized on Dec. 8, the government said that he was in no danger, but Mr. Zuma later said that Mr. Mandela’s condition was serious.


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Season's Greetings and Personal Pics! Star Families Share Photos




From picking out a tree to posing with Santa, see how these celeb parents and their tots spread cheer together








Credit: Courtesy Snooki



Updated: Wednesday Dec 19, 2012 | 05:30 PM EST
By: Anya Leon




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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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