Reuters Asia Business

BEIJING (Reuters) – China on Wednesday said a situation in which national security restrictions severely impede global growth due to “the politicisation of economic and trade issues” would be “immoral and unsustainable”. after a International Monetary Fund warning. IMF Deputy Managing Director Gita Gopinath in December said that if the world economy and trade fragmented …

Politicisation of trade is immoral and unsustainable, China says Read More »

BEIJING (Reuters) – U.S. automaker Tesla sold 94,139 China-made electric vehicles (EVs) in December, a 68.7% increase from a year earlier, China Passenger Car Association (CPCA) data showed on Wednesday. Deliveries of China-made Model 3 and Model Y vehicles were up 14.2% from November. Chinese rival BYD, with its Dynasty and Ocean lineup of EVs …

Tesla’s China-made EV sales jump 68.7% y/y in December Read More »

By Scott Murdoch and Joyce Lee (Reuters) – South Korea’s SK Hynix, the world’s second-biggest memory chipmaker, aims to raise about $1 billion in a dollar bond deal, according to three sources with direct knowledge of the matter. SK Hynix said in a statement the issue amount will be determined at a later date according …

S. Korea’s SK Hynix aims to raise about $1 billion in dollar deal -sources Read More »

By Heekyong Yang and Joyce Lee SEOUL (Reuters) -South Korea’s Hyundai Motor Co and affiliate Kia Corp forecast on Wednesday that their combined global sales will rise about 2% in 2024, even as last year’s sales fell short of target. The duo sold 7.3 million vehicles in 2023, about 3% less than their combined target …

Hyundai Motor, Kia expect auto sales to rise 2% in 2024 Read More »

By Summer Zhen HONG KONG (Reuters) – Global long-only funds offloaded China equities at the fastest pace of 2023 in December as they rushed to meet redemption requests and to diversify away from the world’s second-largest economy, according to Morgan Stanley analysts. China and Hong Kong equities saw a combined net outflow of $3.8 billion …

Foreign funds accelerated China equity sell-off in December -Morgan Stanley Read More »

(Reuters) – Some of China’s top banks have sharpened scrutiny of smaller peers’ asset quality and have tightened standards for interbank lending, three sources said, in an effort to curb credit risk as a deepening property debt crisis ripples through the economy. Two of China’s biggest state-owned banks and a leading joint-stock bank have stepped …

Exclusive-China’s top banks tighten exposure to smaller peers to curb credit risk, sources say Read More »

(Reuters) -Chinese privately-controlled refiner Rongsheng Petrochemical and Saudi Aramco are in talks for the Chinese company to buy a 50% stake in the Saudi company’s refining unit SASREF, a filing showed on Tuesday. Rongsheng is also negotiating to sell Aramco an up to a 50% stake in its unit Ningbo Zhongjin Petrochemical Co, the Chinese …

China’s Rongsheng, Saudi Aramco in talks to buy stake in each other’s units Read More »

By Josh Ye HONG KONG (Reuters) – China removed an official at a government body overseeing its press and publications regulator, five sources who were briefed on the matter said, days after Chinese gaming stocks were hit by proposed rules to curb spending on video games. Feng Shixin was removed last week from his position …

China removes official after video games rules spark turmoil -sources Read More »

(Reuters) – Delta Air Lines said on Tuesday there were some flight delays due to the closure of Tokyo’s Haneda airport, but the carrier did not have any cancellations in its schedule. Haneda, one of the two main airports serving the Japanese capital, was closed for several hours after a Japan Airlines plane caught fire. …

Delta Air sees some flight delays after closure of Tokyo’s Haneda Airport Read More »