Reuters Asia Business

(Reuters) – Chinese chipmakers expect to make next-generation smartphone processors as early as this year despite U.S. efforts to curb their development of advanced technologies, the Financial Times reported on Tuesday. Semiconductor Manufacturing International Corp (SMIC), the country’s top chipmaker, has put together new semiconductor production lines in Shanghai to mass produce chips designed by …

China aims to boost chip production despite US restrictions – FT Read More »

By Hyonhee Shin SEOUL (Reuters) – The majority of North Koreans who resettled in South Korea over the last decade said they never received government rations in the isolated state and had to rely on an informal market to survive, a study issued by Seoul’s unification ministry showed. The 280-page report on North Korea’s economic …

North Korea defectors cite dwindling food rations, market reliance -study Read More »

SHANGHAI (Reuters) – Battered Chinese stocks leapt to their largest one-day gain in two years on Tuesday and the yuan rose on a slew of signals that authorities are strengthening their resolve to support slumping markets. The Shanghai Composite jumped 3.2%, its biggest daily gain since March 2022. Trade volume was the highest since May …

China stocks rebound sharply on renewed talk of official support Read More »

By Yantoultra Ngui SINGAPORE (Reuters) – Indonesia’s state-owned communication giant Telkom Indonesia is considering selling a stake in its data centre business and is expected to finish the selling process in the second half of this year. The group is in the process of selecting its financial adviser and considering how much stake to sell, …

Telkom Indonesia looking to sell stake in data centre business, to conclude deal by H2 Read More »

HANOI (Reuters) – Vietnam’s electric vehicle (EV) maker VinFast is recalling nearly 6,000 of its VF 5 cars sold in the domestic market to replace the combination switch, the company said on Tuesday. The vehicles being recalled were manufactured from March to December last year, it said in a statement. (Reporting by Phuong Nguyen; Editing …

VinFast recalls nearly 6,000 units in Vietnam to replace switch Read More »

By Sam Nussey TOKYO (Reuters) -Nintendo on Tuesday raised its full-year Switch sales forecast to 15.5 million units from 15 million units previously, as the company squeezed sales out of the aging console over the year-end shopping season. With the hybrid home-portable Switch nearing its eighth year on the market, expectations are rising that Nintendo …

Nintendo hikes Switch forecast as hardware launch expectations rise Read More »

SEOUL (Reuters) – South Korea’s finance minister and central bank governor met on Tuesday to discuss long-term policy initiatives for tackling the country’s falling potential growth rate. At the meeting, the policymakers exchanged opinions on various structural factors dragging down the nation’s potential growth rate, which is the maximum growth an economy can achieve without …

S.Korea Finance Minister, central bank governor discuss long-term policy tasks Read More »

COLOMBO (Reuters) – Sri Lanka has approved gradually lifting some limits on converting rupees to foreign exchange for outward remittances and the new directions will be presented to parliament for approval, cabinet spokesperson Bandula Gunawardane said on Tuesday. The island nation’s central bank had suspended permission to remit funds for overseas investments by Sri Lankan residents …

Sri Lanka approves lifting some limits on rupee conversion for outward remittances Read More »

(Reuters) – Chinese equities headed for their biggest gains in 14 months on Tuesday and the yuan rose on further signs of state support for markets and a news report that President Xi Jinping was set to discuss markets with financial regulators. Bloomberg News reported the China Securities Regulatory Commission plan to update top leaders …

China markets leap on prospect of policy boost Read More »