Reuters Asia Business

(Reuters) -J.P.Morgan trimmed China’s growth forecast for 2023 after the country’s economy grew at a weaker pace in the second quarter, with the post-COVID momentum faltering rapidly. JPM Economists led by Haibin Zhu said on Monday they now expect China’s economy to grow 5% this year against an earlier estimate of 5.5%. On a year-on-year …

J.P.Morgan cuts China’s 2023 growth forecast after sluggish Q2 GDP growth Read More »

By Summer Zhen and Xie Yu HONG KONG (Reuters) – Asia’s macro hedge funds, which trade on economic trends, have outperformed other strategies so far this year even as they manoeuvred wild moves in global bond markets, while Japan-focused funds also thrived on a domestic stocks rally. Asia-focused macro hedge funds, which typically trade a …

Macro hedge funds lead gains in Asia, Japan shines Read More »

By Muyu Xu and Florence Tan SINGAPORE (Reuters) – Chinese oil refineries, led by heavyweight Sinopec, are set to boost Brazilian crude imports in the third quarter to replace some of the Saudi Arabian supply it cut after the kingdom hiked prices, industry sources said. China, the world’s top crude importer, has booked nearly 1 …

China to boost Brazil oil imports in Q3, replacing some Saudi supply – sources Read More »

HONG KONG (Reuters) – The Hong Kong stock exchange halted trading in both the securities and derivatives markets on Monday due to approaching Typhoon Talim. The Hong Kong Observatory said storm signal No. 8 would remain in force at least until 4 p.m. (0800 GMT) According to the exchange’s arrangement, the morning trading session will …

Trading in Hong Kong markets halted due to Typhoon Talim Read More »

By Kevin Yao and Joe Cash BEIJING (Reuters) -China’s economy grew at a frail pace in the second quarter as demand weakened at home and abroad, with the post-COVID momentum faltering rapidly and raising pressure on policymakers to deliver more stimulus to shore up activity. Chinese authorities face a daunting task in trying to keep …

China’s frail Q2 GDP growth raises urgency for more policy support Read More »

By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) -Indonesia recorded a surprisingly large trade surplus of $3.46 billion in June, as imports plunged more than expected and exports also remained weak, official data showed on Monday, adding to the case for possible rate cuts before year-end. A Reuters poll of economists had expected a surplus …

Indonesia surprises with large trade surplus; rate cuts eyed before year-end Read More »

SEOUL (Reuters) – South Korea’s home prices were flat in June, data showed on Monday, as prices in the capital Seoul city stopped falling for the first time in a year with sentiment improving for some apartment buildings. The nationwide house transaction price index slipped just 0.05% in June, following a 0.22% fall in May, …

South Korea home prices stabilise in June as buying in Seoul improves Read More »

By Muyu Xu BEIJING/SINGAPORE (Reuters) – China’s average daily coal production rebounded in June from a six-month low the prior month, official data showed on Monday, as miners ramped up output to meet increasing demand from power generators amid a heatwave. China churned out 390.1 million metric tons of coal last month, up 2.5% from …

China June coal output rebounds from six-month low as heatwave boosts demand Read More »

RIYADH (Reuters) -Saudi Arabia said on Sunday it remains committed to securing oil supplies for Japan and will continue cooperating with Tokyo on clean hydrogen, ammonia and recycled carbon fuels. The kingdom will keep supplying Saudi crude oil for Okinawa’s government oil reserves in southern Japan, a statement posted on the energy ministry’s website quoted …

Riyadh, Tokyo to cooperate on energy security, hydrogen and ammonia Read More »