Reuters Asia Business

Japan’s Advantest lowers profit outlook as smartphone softness lingers

31 Oct 2023

TOKYO (Reuters) – Japanese chip testing equipment company Advantest Corp on Tuesday downgraded its full-year operating profit forecast by 24% compared to July as recovery in the smartphone market takes longer than expected. Advantest sees operating profit of 80 billion yen ($532 million) in the year ending in March, down 52%, pointing to softer demand …

Japan’s Advantest lowers profit outlook as smartphone softness lingers Read More »

Berkshire Hathaway sells $25.8 million worth of shares in China’s BYD

31 Oct 2023

HONG KONG (Reuters) – Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 820,500 Hong Kong-listed shares of electric vehicle maker BYD Co for HK$201.73 million ($25.78 million), a stock exchange filing showed. The sale on Oct. 25 lowered Berkshire’s holdings in BYD’s issued H-shares to 7.98% from 8.05%, the filing to the …

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Taiwan’s economic growth surprises in Q3 on strong domestic demand

31 Oct 2023

TAIPEI (Reuters) – Taiwan’s export-dependent economy grew faster than expected in the third quarter, helped by domestic consumption, though exports remained weak as flagging global demand hits sales of the island’s hi-tech products. Taiwan is a key hub in the global technology supply chain for companies such as Apple Inc, and home to the world’s …

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Toyota set to ride robust demand, weak yen to bumper profit

31 Oct 2023

TOKYO (Reuters) – Toyota Motor is expected to report a surge in third quarter profit on Wednesday and lift its full-year outlook as the Japanese automaker benefits from both robust demand and a weaker yen currency. Even as worries about the global economic outlook deepen, the world’s top-selling car manufacturer has been little fazed so …

Toyota set to ride robust demand, weak yen to bumper profit Read More »

Canada bans WeChat, Kaspersky applications on government devices

31 Oct 2023

OTTAWA (Reuters) -Canada on Monday banned Chinese messaging application WeChat and Russian antivirus program Kaspersky on government-issued mobile devices due to privacy and security risks, but said government information had not been compromised. The ban was announced after an assessment by Canada’s chief information officer that Tencent-owned WeChat and applications made by Moscow-based Kaspersky “present …

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ANA says H1 operating profit quadrupled, keeps outlook

31 Oct 2023

TOKYO (Reuters) -ANA Holdings said on Tuesday its first-half operating profit had more than quadrupled amid the post-pandemic travel boom but kept its full-year forecast unchanged citing higher oil prices and costs related to inspections of Pratt & Whitney engines. Japan’s largest airline plans to cut about 30 domestic and international flights a day between …

ANA says H1 operating profit quadrupled, keeps outlook Read More »

China’s semiconductor state fund invests $2 billion in memory chip firm

31 Oct 2023

BEIJING (Reuters) – China’s state-backed chip investment fund has invested 14.56 billion yuan ($1.99 billion) in a memory chip company called Changxin Xinqiao, records showed. The deal saw China Integrated Circuit Industry Investment Fund, also known as the “Big Fund”, contribute to 33.15% of the total registered capital of Changxin Xinqiao, according to an update …

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BOJ relaxes grip on rates as end to yield control looms

31 Oct 2023

By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -The Bank of Japan further loosened its grip on long-term interest rates by tweaking its bond yield control policy again on Tuesday, taking another small step towards dismantling the controversial monetary stimulus of the past decade. The bank’s nine-member board also revised up its price forecasts to …

BOJ relaxes grip on rates as end to yield control looms Read More »

Dental company Straumann’s results boosted by a recovery in Asia

31 Oct 2023

By Andrey Sychev and Anna Mackenzie (Reuters) – Swiss dental implants maker Straumann on Tuesday reported an 11% rise in organic sales growth due to robust demand in its Asia-Pacific business. Quarterly sales in the region jumped almost by a third, mainly due to a recovery in patient numbers in China, boosted by the government’s …

Dental company Straumann’s results boosted by a recovery in Asia Read More »

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