HONG KONG (MarketWatch) -- The Japanese government will seek to scrap capital gains taxes for foreigners holding stakes in domestic companies through investment funds, the Nikkei business daily reported Tuesday. Japan currently applies a corporate tax of about 40% on capital gains when funds sell shares. The government plans to submit a bill to the current parliament session, seeking to end corporate and income taxes on foreign investors from April. Foreign investors with a stake of 25% or more in partnership funds, or ownership of 50% or higher in management companies for funds won't be eligible for the exemption, the report added.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

HONG KONG (MarketWatch) -- Asian markets climbed further Wednesday, adding to the previous session's advance on Wall Street gains, with Japanese shares stretching their rally into a seventh straight session as exporters like Nikon Corp. soared. The Nikkei 225 Average added 1.5% to 9,214.68 and the broader Topix Index gained 1.2% to 886.78. South Korea's Kospi advanced 0.9% to 1,204.73 and Australia's S&P/ASX 200 rose 1.2% to 3,789, while New Zealand's NZX 50 Index was little changed at 2,784.35.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

SAN FRANCISCO (MarketWatch) - VMWare Inc. on Tuesday named Tod Nielsen as its new chief operating officer, a newly-created position at the business software maker. Previously, Nielsen served as CEO of Borland Software Corp. Nielsen will report directly to VMWare CEO Paul Maritz.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

SAN FRANCISCO (MarketWatch) - Advanced Micro Devices Inc. on Tuesday said the Committee on Foreign Investment in the United States (CFIUS) has given the chip maker clearance to create The Foundry Company, in a joint venture with the Advanced Technology Investment Company. AMD is spinning off its manufacturing facilities to create the new company.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

SAN FRANCISCO (MarketWatch) -- Freddie Mac said on Tuesday it priced its $3.5 billion five-year USD Reference Notes at 2.621% yield, or 95 basis points more than five-year U.S. Treasury Notes. Including the latest offering, Freddie Mac has about $257.6 billion in Reference Notes and Reference Bonds securities outstanding.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.