By Tom Westbrook and Summer Zhen SINGAPORE/HONG KONG (Reuters) – For a second day running state-backed buying likely scraped Chinese stocks from multi-year lows. Investors doubt the support will last and warn it leaves markets unbalanced and unstable. Formed in response to a market crash in 2015, the so called “national team” of Chinese state-backed …
Analysis-Why China’s national team won’t save spiralling markets Read More »
SHANGHAI (Reuters) – China’s securities regulator vowed to prevent abnormal market fluctuations, after Chinese stocks plunged to five-year lows, but announced no specific measures. The watchdog also said it will crack down on ill-intended short selling, attract more investment by long-term capital, and earnestly listen to investors’ voices. China’s blue-chip CSI300 Index tumbled nearly 5% …
China regulator vows to stabilise market after stocks hit 5-year lows Read More »
By Fanny Potkin and Julie Zhu SINGAPORE/HONG KONG (Reuters) – Soaring appetite for Huawei’s artificial intelligence (AI) chips coupled with manufacturing constraints has forced the Chinese tech giant to prioritise AI and slow production for its premium Mate 60 phones, people familiar with the matter said. Huawei uses one facility producing both its Ascend AI …
Exclusive-AI chip demand forces Huawei to slow smartphone production -sources Read More »
By Clare Jim HONG KONG (Reuters) – More distressed property developers in China have had projects added to local authorities’ so-called whitelists, reflecting the rapid expansion of a government policy aimed at injecting liquidity into the crisis-hit sector. Sunac China, Greenland, CIFI and SCE Group said local governments had listed some of their projects as …
Distressed Chinese developers get project loan backing as Beijing ramps up support Read More »
By Makiko Yamazaki and Anton Bridge TOKYO (Reuters) -Mitsubishi UFJ Financial Group (MUFG), Japan’s largest lender by assets, on Monday reported third-quarter net profit tripled from the same period a year prior, when earnings were pulled down by an asset sale. MUFG posted profit of 370.64 billion yen ($2.50 billion) for October-December, against 112.08 billion …
Japan’s top bank MUFG reports third-quarter profit tripled Read More »
TAIPEI (Reuters) -Taiwan’s Foxconn, the world’s largest contract electronics maker and Apple’s biggest iPhone assembler, on Monday reiterated that it expected an on-year drop in first quarter revenue coming off a high base. The first quarter is traditionally quieter than the previous one, the season when Taiwan’s tech companies race to supply smartphones, tablets and …
Foxconn reiterates guidance for Q1 revenue drop off high base Read More »
TOKYO (Reuters) – Itochu Corp’s aviation unit will end its strategic cooperation with Israeli defence company Elbit Systems Ltd by the end of February over the war in Gaza, the Japanese trading house’s executive said on Monday. Itochu Aviation, Elbit Systems and Nippon Aircraft Supply (NAS) signed the strategic cooperation memorandum of understanding (MoU) in …
Japan’s Itochu to end cooperation with Israel’s Elbit over Gaza war Read More »
BEIJING (Reuters) – China issued new regulations on Sunday to improve the regulation of carbon trading and crack down on emissions data fraud, a key part of efforts by the world’s biggest greenhouse gas producer to expand the market into new industrial sectors. The new rules, passed by China’s cabinet, will be effective from May …
China to crack down on emissions data fraud as CO2 market expansion nears Read More »
BEIJING (Reuters) – Many Chinese are venting their frustration at the slowing economy and the weak stock market in an unconventional place: the social media account of the U.S. Embassy in Beijing. A post on Friday on protecting wild giraffes by the U.S. embassy on Weibo, a Chinese platform similar to X, has attracted 130,000 …
Chinese turn U.S. embassy post into ‘Wailing Wall’ for stock plunge Read More »
DOHA (Reuters) – QatarEnergy has signed a deal to supply Japan’s Mitsui & Co with 11 million barrels of condensate per year for 10 years starting in April, Qatar’s state-owned energy company said on Sunday. The deal includes an option to increase the volume of condensate QatarEnergy exports to Mitsui & Co when additional volumes …
QatarEnergy to supply condensate to Japan’s Mitsui in 10-year deal Read More »
