Reuters Asia Business

SHANGHAI (Reuters) – China’s Shanghai Stock Exchange said on Tuesday it was looking into trading of Nanjing Chemical Fibre shares after their abnormal price swings raised concerns about potential market manipulation. Shares of the fibre producer, which were up 10% at 8.34 yuan on Monday, tumbled to 6.82 yuan at 14:36 p.m. (2236 GMT) – …

Shanghai reviews trading in fibre company shares over manipulation concerns Read More »

By Divya Rajagopal TORONTO (Reuters) – Solaris Resources has scrapped plans to sell a minority stake to China’s Zijin Mining Group because it feared the deal was unlikely to meet Canada’s stringent foreign- investment standards in a timely manner, the Canadian company said on Tuesday. In January, Solaris announced plans to sell a 15% stake …

Solaris ends plan to sell stake to China’s Zijin Mining, cites government rules Read More »

By Mimosa Spencer PARIS (Reuters) -Chanel plans to invest in opening more stores in mainland China despite a shift in spending by Chinese shoppers to other markets as they resume travelling, the French label said on Tuesday. “The ability to scale is really important,” said Leena Nair, chief executive of the privately-owned label, known for …

Chanel to open more stores in China even as growth shifts abroad Read More »

By Scott Murdoch SYDNEY (Reuters) – Chinese online retailer JD.com is raising $1.5 billion via a convertible bond sale, according to the company’s regulatory filings on Tuesday. The five-year put-three deal was launched after the Hong Kong trading session closed, and ahead of the stock’s open in New York. The deal is being marketed with …

China’s JD.com aims to raise $1.5 billion in convertible bond deal Read More »

HANOI (Reuters) – Vietnam’s electric vehicle maker VinFast is being sued in a California court for not having paid rent for a store, according to a complaint filed by real estate services firm SPG Center LLC, which VinFast said was inaccurate. SPG Center said VinFast had rented the premises in a shopping centre in Palo …

VinFast sued in the US for not paying rent for showroom Read More »

(Fixes spelling in penultimate paragraph) By Anisha Sircar and Divya Chowdhury BENGALURU (Reuters) – Thailand’s new finance minister has refrained from pressuring the central bank and has a chance to improve relations amid a longstanding disagreement on interest rates, former finance minister Thirachai Phuvanatnaranubala said on Tuesday. Speaking in the Reuters Global Markets Forum, Thirachai …

New Thai finance minister has chance to improve strained central bank ties, says ex-Finance Minister Read More »

By Francesco Guarascio and Ben Blanchard HANOI/TAIPEI (Reuters) – Vietnamese officials have called on Apple supplier Foxconn to voluntarily reduce power use by 30% at its assembly plants in the north of the country where there were electricity outages last year, two people familiar with the matter said. The request for energy-saving measures, which two …

Exclusive-Apple supplier Foxconn among firms asked to cut power use in Vietnam, sources say Read More »

ISLAMABAD (Reuters) – Pakistan’s economy grew 2.09% in the third quarter of the financial year 2023-2024, supported by higher growth in agriculture, the Pakistan Bureau of Statistics said in a press release on Tuesday The estimated provisional growth rate of gross domestic product (GDP) for the financial year ending June 2024 is 2.38%, the bureau …

Pakistan GDP grows 2.09% in Q3, supported by agriculture Read More »

BEIJING (Reuters) – China’s survey-based jobless rate for 16-24 year-olds, excluding college students, was 14.7% in April, down from 15.3% in March, data from the National Statistics Bureau (NBS) showed on Tuesday. China’s Vice Premier Ding Xuexiang said last week the country will strive to promote employment of college graduates to stabilise youth employment. (Reporting …

China’s April youth jobless rate drops to 14.7%, stats bureau says Read More »