Reuters Asia Business

US weighs sanctioning Huawei’s Chinese chip network, Bloomberg News reports

(Reuters) – The Biden administration is considering blacklisting a number of Chinese semiconductor firms linked to Huawei Technologies Co, Bloomberg News reported on Wednesday citing people familiar with the matter. The companies that could be blacklisted include chipmakers Qingdao Si’En, SwaySure, and Shenzhen Pensun Technology Co, the report said, adding that U.S. officials are also …

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Asian bonds draw hefty inflows on US rate cut hopes, strong exports

(Reuters) – Asian bonds attracted their largest monthly inflow in three months in February, helped by expectations that the U.S. Federal Reserve would cut rates later this year, and also boosted by the region’s strong exports. Foreign investors accumulated a net $4.41 billion of bonds in India, South Korea, Malaysia, Indonesia and Thailand last month, …

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BOJ cuts maximum limit of JGB purchase amount after major policy shift

By Brigid Riley and Junko Fujita TOKYO (Reuters) – The Bank of Japan (BOJ) will scale back the maximum limit of its purchases of Japanese government bonds, it said on Tuesday, after ending its radical stimulus policies of negative interest rates and yield curve control (YCC). The BOJ has been an aggressive bond buyer to …

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Nippon Steel pledges to move US HQ to US Steel’s Pittsburgh

By Katya Golubkova TOKYO (Reuters) -Nippon Steel would move its U.S. headquarters to Pittsburgh where its acquisition target U.S. Steel is based if the deal goes through, an executive said, adding to the pledges from the Japanese steelmaker to secure the transaction. Nippon Steel’s proposed $15-billion takeover of U.S. Steel has drawn sharp criticism in …

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Tencent Music beats quarterly revenue estimates

By Josh Ye HONG KONG (Reuters) -China’s Tencent Music Entertainment Group beat fourth-quarter revenue estimates on Tuesday, driven by growth in paid subscription on its Spotify-like music streaming platform. The audio entertainment platform reported revenue of 6.89 billion yuan ($957.06 million) for the quarter, marking a 7.2% decline as compared to the same period last …

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Bank of Japan scraps radical policy, makes first rate hike in 17 years

By Leika Kihara TOKYO (Reuters) -The Bank of Japan (BOJ) ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from its focus on reflating growth with decades of massive monetary stimulus. While the move was Japan’s first interest rate hike in 17 years, …

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Corporate Japan welcomes BOJ’s first rate hike in 17 years

TOKYO (Reuters) – The Bank of Japan has made “the appropriate policy decision at the appropriate time,” the head of Japan’s biggest business lobby said, welcoming Governor Kazuo Ueda’s move to hike interest rates for the first time in 17 years. “I think the BOJ has caught the indications that a virtuous cycle between wages …

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Prosecutors seek death penalty for mastermind of Vietnam’s largest financial scam

HANOI (Reuters) -Vietnamese prosecutors called on Tuesday for the death penalty to be handed to Truong My Lan, the mastermind of the Southeast Asian nation’s largest financial fraud on record, state media said. Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, faces a trial in the economic hub of Ho Chi …

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