Reuters Asia Business

China’s November industrial output grows 4.8% y/y, retail sales up 1.3%

BEIJING, Dec 15 (Reuters) – China’s industrial output in November rose 4.8% year-on-year, slowing from the 4.9% growth in October, while retail sales growth slowed, official data showed on Monday. The industrial output data, released by the National Bureau of Statistics, missed a 5.0% increase forecast in a Reuters poll. Retail sales, a gauge of …

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Korea Zinc board to discuss plan to build smelter under US joint venture, source says

SEOUL, Dec 15 (Reuters) – Korea Zinc’s board will meet on Monday to vote on a plan to build a smelter to refine key minerals in the U.S. under a joint venture with the U.S. government and companies, a source familiar with the issue said, adding investments would total 10 trillion won ($6.78 billion). South …

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Nomura seeking private debt acquisitions in alternatives push, CEO says

TOKYO, Dec 15 (Reuters) – Japan’s Nomura Holdings is on the lookout for private debt asset management acquisitions as it expands its alternative assets business, chief executive Kentaro Okuda said in an interview with Reuters. Nomura also hopes to bring know-how from more mature overseas markets to the fledgling direct lending industry in Japan, where …

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South Korea financial regulator extends bond market stabilisation programmes

SEOUL, Dec 15 (Reuters) – South Korea has decided to extend bond market stabilisation programmes through next year, the financial regulator said on Monday, citing risk from monetary policy changes at home and abroad as well as increases in treasury bond issuance.  The Financial Services Commission statement said its bond and short-term money market stabilisation …

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China’s small bank mergers shrink sector but raise financial risks

Dec 12 (Reuters) – Many of China’s newly merged small banks have seen profits fall and capital buffers shrink over the past year, a Reuters review of data showed, testing Beijing’s record consolidation drive designed to avert risks in its $8 trillion small banking sector. China’s bank consolidation has accelerated, with at least 350 banking …

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Tokyo Gas to steer more than half of overseas investments to US in next 3 years, CEO says

TOKYO, Dec 15 (Reuters) – Tokyo Gas, Japan’s top city gas provider, plans to direct more than half of the 350 billion yen ($2.3 billion) it has earmarked for overseas investments over the next three years to the U.S. to drive growth, CEO Shinichi Sasayama said. In October, Tokyo Gas unveiled a plan to invest …

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China urges stronger coordination between business and finance systems to spur consumption

SHANGHAI, Dec 14 (Reuters) – China’s commerce ministry and financial regulators have urged local authorities to promote stronger coordination between business and financial systems to boost consumption, a joint statement showed on Sunday. Local commerce departments are encouraged to tap existing funding channels for consumption-boosting campaigns and work with financial institutions to unlock spending potential, …

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China Vanke bondholders reject payment extension, raising default risk

Dec 14 (Reuters) – China Vanke failed to secure bondholder approval to extend by one year a bond payment due on Monday, a filing showed, increasing the risk of default for the developer and renewing concerns about the crisis-hit property sector. The setback for state-backed Vanke, one of China’s highest-profile developers with projects in major …

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China’s Wang Yi seeks deeper oil and gas ties with UAE on Middle East tour

BEIJING, Dec 13 (Reuters) – China’s Foreign Minister Wang Yi met his United Arab Emirates counterpart on Friday, pledging deeper cooperation in investment, oil and gas, and infrastructure with the Gulf country, China’s foreign ministry said on Saturday. Wang, on a three-nation tour of the Middle East that began on Friday, held talks with UAE …

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