Reuters Asia Business

By Karin Strohecker and Ariba Shahid LONDON/ISLAMABAD (Reuters) – The possibility of a political stalemate in Pakistan leading to delays in both reforms and crucial foreign funding has sparked a selloff in its international bonds and fuelled analysts’ fears of further economic misery for the country. Results coming in from Thursday’s election saw an unexpectedly …

Analysis – Pakistan may face more economic misery if election result unclear Read More »

By Sam Nussey TOKYO (Reuters) – Bain Capital-backed chipmaker Kioxia on Friday reported a narrower third-quarter operating loss of 65 billion yen ($434.70 million) sequentially, saying selling prices for its memory chips have begun rising as customer inventories normalise. The loss compared with a 100.8 billion yen loss three months earlier, with Kioxia adding it …

Japan chipmaker Kioxia reports $434 million Q3 loss Read More »

By Rocky Swift TOKYO (Reuters) – Shiseido became the latest victim on Friday of a slowing Chinese economy that has battered earnings at many global consumer goods companies, when the Japanese cosmetics maker reported a 40% slide in annual earnings. China’s weak consumer spending has also hit profits at L’Oreal and Estee Lauder, which like …

China’s consumer slump claims another victim as Shiseido profit slides Read More »

By Sam Nussey TOKYO (Reuters) – Japan’s trade ministry said on Friday it would offer backing worth up to 45 billion yen ($301 million) to an organisation, including chip foundry venture Rapidus, for research into cutting-edge semiconductor technology. The Leading-edge Semiconductor Technology Center (LSTC) is chaired by Rapidus Chairman Tetsuro Higashi and includes research institutions …

Japan offers $300 million backing for chip research organisation Read More »

By Kane Wu and Selena Li HONG KONG (Reuters) – Job cuts at western investment banks in Asia are expected to increase this year as revenue pressures rise due to deepening economic and market turmoil in China, even as deal prospects brighten in Japan and India, headhunters and bankers said. A new round of staff …

As China woes mount, investment banks brace for more Asia job cuts Read More »

By Tetsushi Kajimoto TOKYO (Reuters) – Japanese steelmakers’ labour unions are pushing for a base pay increase of 30,000 yen ($201) a month to ensure workers’ wage growth outpaces inflation, unionists said on Friday, as annual talks with management move into full swing. A wage hike of 30,000 yen would amount to about a 10% …

Japan’s steel workers demand record pay hikes in spring talks Read More »

By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) – Adrian graduated from an Indonesian auto mechanic trade school last summer, but since then has only worked a few weeks in one job: serving fruit juice at a kiosk in downtown Jakarta. The 19-year-old, a first time voter in next week’s Indonesian election, is seeking work …

Analysis-Young Indonesians wary of election promises as jobs boom eludes them Read More »

TOKYO (Reuters) -Nissan Motor saw its shares plunge as much as 11.7% on Friday in what could become their biggest selloff since 2001, after the automaker trimmed its sales volume forecast for this financial year and amid worries about its business in China. The decline wiped around $1.8 billion off the stock’s market value and …

Nissan shares plummet as Q3 earnings highlight China worries Read More »

By Kevin Yao, Joe Cash and Samuel Shen BEIJING (Reuters) – The new head of China’s market regulator is tough on insider trading, fights fires fast, works closely with Communist Party leaders and has managed a stock exchange – a perfect profile for someone taking charge of the country’s cratering stock markets. Wu Qing, nicknamed …

‘Firefighter’ Wu becomes China’s market regulator after rout Read More »