Reuters Asia Business

Slump in China’s home prices, sales set to worsen this year: Reuters poll

By Liangping Gao and Ryan Woo BEIJING (Reuters) – China’s home prices will fall at a faster pace this year with worsening slumps in property investment and sales, a Reuters poll showed, a sombre reminder to policymakers as they redouble efforts to revive the crisis-hit property sector. The poll showed new home prices would fall …

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Apple slashes iPhone prices in China amid fierce Huawei competition

BEIJING (Reuters) – Apple has launched an aggressive discounting campaign on its official Tmall site in China, offering discounts of up to 2,300 yuan ($318) on select iPhone models. The discounting comes as the U.S. tech giant seeks to defend its position in the high-end smartphone market, where it faces increasing competition from local rivals …

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Audi, partner SAIC to develop China-specific EV platform

BEIJING (Reuters) – Volkswagen’s premium brand Audi said on Monday it would jointly develop a new China-specific platform for intelligent and electric vehicles with its Chinese joint venture partner SAIC. The move, coming about 10 months after VW’s landmark Chinese partnership deal, highlights mounting pressure on western brands and legacy automakers to rejig to survive …

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China regulators plan European investor meet to revive stocks, Bloomberg reports

(Reuters) – China’s markets regulators are planning a meet with investors in Europe this week to revive their interest in the world’s second-biggest stock market, Bloomberg News reported on Monday, citing unidentified people familiar with the matter. Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC), would speak with investors in Paris on …

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Taiwan April export orders grow at fastest pace in 2 years

By Roger Tung and Faith Hung TAIPEI (Reuters) – Taiwan’s export orders rose more than expected and at the quickest pace in two years in April, with the government optimistic about the potential future demand for the island’s tech products from the growing artificial intelligence industry. Export orders last month jumped 10.8% from a year …

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China’s property support measures disappoint, developers’ shares falter

By Clare Jim and Xie Yu HONG KONG (Reuters) -Shares of Chinese developers wobbled on Monday as investors fretted that China’s “historic” steps to stabilise its crisis-hit property sector fell short of what is required to foster a sustainable turnaround in demand and confidence. Hong Kong’s Hang Seng Mainland Properties Index closed down 0.7%, after …

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Japan manufacturers want BOJ to keep yen stable, survey shows

By Leika Kihara TOKYO (Reuters) -Japan’s large manufacturers saw exchange rate stability as the biggest factor they wanted out of the central bank’s monetary policy, a Bank of Japan survey showed on Monday. Roughly 70% of firms polled said they experienced drawbacks from the BOJ’s 25-year-long monetary easing measures including a weak yen that pushed …

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AstraZeneca to build $1.5-billion cancer drug plant in Singapore

(Reuters) -AstraZeneca plans to build a $1.5 billion manufacturing facility in Singapore to produce a promising category of cancer-killing drugs called antibody-drug conjugates (ADCs), the Anglo-Swedish drugmaker said on Monday. The facility, which will be the drugmaker’s first end-to-end ADC production site, will be supported by the Singapore Economic Development Board. The company did not …

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China’s agriculture chief stripped from ministry’s leadership roster amid investigation

By Mei Mei Chu and Ryan Woo BEIJING (Reuters) -China’s agriculture minister, under investigation by Beijing’s graft watchdog for potential corruption, has been removed from the leadership roster on the ministry’s website, a change analysts said could delay China’s food security plans. Tang Renjian, 61, was placed under investigation for “serious violations of discipline and …

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Top Japan companies agree to 5.58% average pay hike, business lobby says

By Kentaro Sugiyama TOKYO (Reuters) -Top Japanese companies agreed to wage increases of an average 5.58% at annual labour talks that wrapped up in March, the Keidanren business lobby’s preliminary data showed on Monday, representing the heftiest pay hike in 33 years. The average wage increase at the “shunto” spring wage talks this year exceeded …

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