Reuters Asia Business

By Kanishka Singh WASHINGTON (Reuters) – The United States “firmly” opposes export controls announced by China on gallium and germanium, metals needed to produce semiconductors and other electronics, a U.S. Commerce Department spokesperson said on Wednesday, adding that Washington will consult its partners and allies to address the issue. Earlier this week, China put export controls …

US says it opposes export controls by China on metals, will consult allies Read More »

KARACHI, Pakistan (Reuters) – The International Monetary Fund (IMF) Executive Board meeting on Pakistan has been scheduled for July 12, the lender confirmed in email on Wednesday. Pakistan secured a badly needed $3 billion stand-by arrangement (SBA) from the International Monetary Fund on Friday, giving the South Asian economy a much-awaited respite as it teeters …

IMF Executive Board meeting on Pakistan scheduled for July 12 Read More »

By Chibuike Oguh NEW YORK (Reuters) – Shares in U.S. rare earth materials firm MP Materials Corp surged more than 11% on Wednesday following China’s announcement of restrictions on exports of some gallium and germanium products – minor metals used in semiconductors and electric vehicles. China’s commerce ministry said on Monday the curbs would take …

China metals export curbs lift shares in US producer MP Materials Read More »

By Nia Williams (Reuters) -The Trans Mountain pipeline expansion (TMX) was meant to unlock Asian markets for Canadian oil, but analysts and traders said those barrels now will probably land on the U.S. West Coast as Asia gobbles up Russian oil that is cheaper due to sanctions from Western countries after Moscow’s invasion of Ukraine. …

Trans Mountain pipeline expansion likely to send more Canadian oil to US, not Asia Read More »

By Kevin Buckland and Ankur Banerjee TOKYO (Reuters) – A tailwind behind Japanese stocks is strengthening as large foreign funds who have been avoiding the market for decades start to reach into pockets deep enough to take the Nikkei back to its 1989 peak. Their money was on the sidelines while the Nikkei 225 surged …

‘Top dog in Asia’: Nikkei’s stellar rise starts drawing big money Read More »

By Kane Wu HONG KONG (Reuters) – Beijing Fourth Paradigm Technology, an AI startup, has completed procedural work for a Hong Kong initial public offering, becoming only one of a handful of companies to get the nod from China’s securities regulator since new rules became effective this year. The company has successfully completed the offshore …

Chinese AI startup Fourth Paradigm receives China’s nod for Hong Kong IPO Read More »

SHANGHAI (Reuters) -Chinese banking shares listed in Hong Kong tumbled on Wednesday after Goldman Sachs downgraded top lenders including Agricultural Bank of China (AgBank) in a report that raised questions over the sector’s financial health. The Hang Seng Mainland Banks Index dropped more than 3%, on track for its worst day in eight months. Goldman …

China bank shares slump in Hong Kong after Goldman downgrades Read More »