Reuters Asia Business

By David Kirton and Jason Xue SHENZHEN, China/SHANGHAI (Reuters) -Chinese chip stocks rallied on Wednesday following Huawei Technologies’ launch of its new Mate 60 Pro phone, as investors speculated it could be using a 5G capable chip which, if true, would be a win for China’s local semiconductor sector. Since 2019, Washington has restricted Huawei …

China chip stocks rally after Huawei’s low-key launch of new Mate 60 Pro phone Read More »

By Mayu Sakoda and Rocky Swift TOKYO (Reuters) – Japan’s Suntory Beverage & Food sees Australia as a model for integrating canned alcoholic drinks into offerings in other global markets, Chief Executive Makiko Ono said. As Japan’s second-biggest domestic maker of soft drinks, Suntory Beverage has traditionally focused on non-alcohol offerings under the umbrella of …

Japan’s Suntory Beverage sees Australia as model for canned cocktail expansion Read More »

By Junko Fujita TOKYO (Reuters) – Japan’s Simplex Asset Management said it will launch exchange-traded funds focused on undervalued stocks, including the first aimed at shares below book value, reflecting demand for exposure to the wave of corporate reform rallying Japanese markets. Japan’s Nikkei is up 24% this year, against a 13% gain for world …

Japan’s Simplex launches first ETFs focused on stocks below book value Read More »

By Sumeet Chatterjee and Carolyn Cohn HONG KONG/LONDON (Reuters) – Prudential PLC posted a 3.6% rise in first-half operating profit on Wednesday, as the Asia-focused insurer benefited from a rebound in Chinese investors buying insurance products in Hong Kong, its key revenue centre. The profit numbers, which Jefferies analysts said came in slightly above consensus, …

Chinese demand boosts Prudential first-half profit, shares rise Read More »

By Laurie Chen BEIJING (Reuters) – The European Union Chamber of Commerce in China said on Wednesday that it would not use the term “uninvestable” to describe China, in response to a comment from the United States. U.S. Commerce Secretary Gina Raimondo said late Tuesday American firms had increasingly used the term to describe China, …

‘Uninvestable’ not a term to describe China, says EU Chamber of Commerce Read More »

SEOUL (Reuters) – Hyundai Motor’s unionised workers will resume labour talks with the company’s management after negotiations had stalled earlier this month, the union said on Wednesday. On Monday, the 44,000-strong union won permission to go on a strike from a government organisation that handles labour disputes, raising the probability of the company’s first wage-related …

Hyundai Motor union says will restart talks with management Read More »

WASHINGTON (Reuters) – Commerce Secretary Gina Raimondo said on Tuesday that U.S. companies have complained to her that China has become “uninvestible,” pointing to fines, raids and other actions that have made it risky to do business in the world’s second-largest economy. Below are details on some of the bigger hurdles for doing business in …

Factbox-From raids to exit bans, US companies face growing hurdles in China Read More »

By Zaheer Kachwala (Reuters) -HP Inc tempered expectations for annual profit on Tuesday, as it grapples with a more than a year-long slump in the personal computers segment and sluggish demand in key market China. Shares of the Palo Alto, California-based company fell 5.2% in after-market trading. Inflation and an uncertain global economy triggered a …

HP dials back profit expectations on PC market slump, China weakness Read More »

By Marta Nogueira RIO DE JANEIRO (Reuters) – Brazilian miner Vale SA sees declining steel demand in China, the world’s largest producer, but the situation is not as dire as some indicators suggest, the miner’s vice president of iron ore solutions told Reuters. Vale is “cautiously optimistic” about the largest global consumer of iron ore, …

Chinese steel demand declining less than data suggests, says Vale executive Read More »

By Bernardo Caram BRASILIA (Reuters) – Chinese investments in Brazil tanked 78% in 2022 compared with the previous year, hitting their lowest in 13 years as funds committed to resource projects plummeted, the Brazil-China Business Council (CEBC) said on Tuesday. China, Brazil’s largest trading partner, funneled $1.3 billion in direct investments into the country last …

Chinese investment in Brazil plunges 78% in 2022, hits lowest since 2009 Read More »