Reuters Asia Business

China urges swift implementation of expansive financial policies

18 Oct 2024

BEIJING/SHANGHAI (Reuters) -China’s central bank and financial regulators have held meetings with key financial institutions, urging them to swiftly implement expansive policies to support the economy and the capital markets. The People’s Bank of China (PBOC) said in a statement on its website on Friday that it urged financial institutions to boost credit support for …

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Tokyo inflation likely to miss BOJ target for first time in five months: Reuters poll

18 Oct 2024

By Kantaro Komiya TOKYO (Reuters) – Consumer inflation in Tokyo for October likely undershot the central bank’s price target for the first time in five months, a Reuters poll showed on Friday. The core consumer price index (CPI) in Tokyo, a leading indicator of nationwide price trends, was expected to have risen 1.7% from a …

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TSMC stock hits new high after posting forecast-beating earnings

18 Oct 2024

TAIPEI (Reuters) – Taipei-listed shares in TSMC hit a record high on Friday after the chipmaker posted forecast-beating third-quarter earnings and predicted a rosy outlook on strong artificial intelligence (AI) demand. Shares jumped 6% shortly after opening to reach T$1,100 ($34.25), surpassing the previous record of T$1,080 hit on July 11. That gave TSMC a …

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Fuji Soft founder backs buyout by Bain over KKR offer, letter says

18 Oct 2024

By Kane Wu, Makiko Yamazaki and Anton Bridge TOKYO/HONG KONG (Reuters) -Fuji Soft founder and shareholder Hiroshi Nozawa said in a letter to the company, seen by Reuters, that he supports U.S. buyout fund Bain Capital’s takeover bid for the Japanese software developer. Bain made a binding offer on Oct. 11 to buy Fuji Soft …

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China’s economy grows 4.6% in Q3, keeping stimulus calls alive

18 Oct 2024

By Kevin Yao BEIJING (Reuters) -China’s economy grew slightly quicker than expected in the third quarter, but a prolonged property downturn and weak consumption remain a drag on activity, maintaining pressure on policymakers as they consider more stimulus steps to revitalise growth. Data released on Friday showed the world’s second-largest economy grew 4.6% year-on-year in …

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China September industrial output rises 5.4%, beating expectations

18 Oct 2024

BEIJING (Reuters) – China’s industrial output in September grew 5.4% from a year earlier, up from a 4.5% pace in August, providing some encouragement to policymakers as they step up efforts to revive a sluggish economy as the year-end draws closer. The official data from the National Bureau of Statistics (NBS) on Friday beat expectations …

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China’s property investment falls 10.1% y/y in Jan-Sept

18 Oct 2024

BEIJING (Reuters) – Property investment in China fell 10.1% in the first nine months of 2024 from a year earlier, after dropping 10.2% in January-August, National Bureau of Statistics (NBS) data showed on Friday. Property sales by floor area in January-September fell 17.1% from a year earlier, compared with a 18.0% slump in January-August. New …

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China’s Q3 GDP grows 4.6% y/y, slightly above economists’ estimate

18 Oct 2024

BEIJING (Reuters) – China’s economy expanded 4.6% in the third quarter from a year earlier, official data showed on Friday, slightly beating analysts’ expectations, maintaining pressure on policymakers as they consider more stimulus measures. Economists polled by Reuters had expected third-quarter gross domestic product to have grown 4.5% from a year earlier, slowing from 4.7% …

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Mitsubishi acquires half of Ayala’s stake in fintech unicorn Mynt

18 Oct 2024

(Reuters) – Philippine conglomerate Ayala Corp is selling half of its stake in Mynt, the fintech unicorn which operates e-wallet brand GCash, to Japan’s Mitsubishi Corp for a minimum of 18.4 billion pesos ($318.89 million), it said on Friday. The Japanese conglomerate will acquire the stake by buying 50% of Ayala-owned AC Ventures, the Philippine …

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