Reuters Asia Business

By Scott Murdoch and Clare Jim SYDNEY (Reuters) – China Evergrande Group’s offshore bondholder group said on Monday it was surprised by the property developer’s recent announcement that its offshore debt restructuring plan failed to meet regulatory requirements. In a statement, the ad hoc bondholder group said it had not been given any documents or …

Evergrande offshore bondholders surprised by debt restructuring regulatory hurdles Read More »

MANILA (Reuters) – Philippine Finance Secretary Benjamin Diokno believes the central bank has “done enough” policy tightening to tame inflation, but reiterated future interest rate moves would remain data dependent. Diokno’s remarks echoed that of the country’s economic planning minister, who on Friday said further rate hikes may be unnecessary because inflationary pressures in the …

Philippines has ‘done enough’ policy tightening, finance secretary says Read More »

HONG KONG (Reuters) – A share sale plan between China Evergrande New Energy Vehicle Group, the electric-vehicle arm of embattled property developer China Evergrande and U.S.-listed NWTN has been halted, according to a Hong Kong bourse stock filing on Sunday. The suspension of the share subscription deal was due to “significant uncertainties” tied to the …

Evergrande’s $500 million EV share deal suspended, stock to resume trading Read More »

BEIJING/SHANGHAI (Reuters) – U.S. automaker Tesla sold 74,073 China-made electric vehicles (EVs) in September, a 10.9% decrease from a year earlier, showed data from the China Passenger Car Association (CPCA) on Sunday. Sales of China-made Model 3 and Model Y cars were down 12.0% from a month earlier. Chinese rival BYD, with its Dynasty and …

Tesla’s China-made EV sales volume falls 10.9% year-on-year in Sept Read More »

BEIJING (Reuters) – The Shanghai Stock Exchange said it will probe Zhejiang King Co Ltd after the Chinese maker of air conditioners halted its initial public offering (IPO) amid media reports about alleged issues such as the overpricing of shares. The probe comes as China’s securities regulators have tightened their scrutiny of IPOs and slowed …

Shanghai stock exchange probes Zhejiang King after its public listing halt Read More »

SHANGHAI (Reuters) – Tesla has signed a leasing contract with Shanghai Waigaoqiao Free Trade Zone Group to open a massive sales and service centre in an industrial park in the city, its biggest one in China, the government-owned company said. The Tesla store, with a size of 8,000 square metres, or 861,000 square feet, will …

Tesla signs lease to open vast sales and service centre in Shanghai industrial park Read More »

SHANGHAI (Reuters) – China’s foreign exchange reserves fell more than expected in September, official data showed on Saturday, as the U.S. dollar rose against other major currencies. China’s reserves – the world’s largest – fell $45 billion to $3.115 trillion last month, compared with $3.13 trillion tipped by analysts in a Reuters poll, from $3.16 …

China forex reserves fall to $3.115 trln in September Read More »