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Reuters quotes two people familiar with the matter, as saying that Japan has approved shipments of a high-tech material to South Korea for the second time since imposing export curbs last month.

A senior government official  noted: “Tokyo’s latest export approval is positive for the local industry, but I don’t see Japan’s move as a conciliatory message to South Korea.”

South Korean Foreign Minister Kang Kyung-wha said, “I believe that (we are) in a very difficult situation.”

This development comes a day ahead of the bilateral meeting between the South Korean and Japanese trade teams in Beijing.

The market sentiment is pretty mixed so far this Tuesday’s Asian trading, as traders turn cautious ahead of the Fed’s Jackson Hole Symposium and the G7 meeting due later this week. The USD/JPY pair trades in a tight range just above the 106.50 level, almost unchanged on the day.