Reuters Asia Business

ZURICH (Reuters) – Swiss agrichemicals and seeds group Syngenta has withdrawn its application to float on Shanghai’s tech-focused STAR Market and will instead seek a listing on the main board of the Shanghai Stock Exchange. Thursday’s step came as Syngenta sought to rescue its 65-billion-yuan ($9.4-billion) IPO, which hit the buffers after authorities canceled an …

Syngenta shifts IPO application to main board of Shanghai stock exchange Read More »

TOKYO (Reuters) -Japan’s Panasonic Holdings Corp aims to ramp up its production capacity for 4680 battery cells by 2030 by building two or more new factories in North America, it said on Thursday, as it seeks to supply the growing electric vehicle (EV) market. The company, whose energy unit makes batteries for EV maker Tesla …

Panasonic plans two or more new battery factories in North America by 2030 Read More »

By Clare Jim and Xie Yu HONG KONG (Reuters) – A shrinking land bank and sluggish property demand are likely to hamper the plans of a growing number of private Chinese developers who have defaulted on their debt and are restructuring it to win breathing room to revive their fortunes. Those hurdles could hinder the …

Debt restructuring no panacea for Chinese developers as challenges loom Read More »

By Anisha Sircar and Divya Chowdhury (Reuters) – Equity markets in North Asia will outperform the broader region this year, buoyed by China’s reopening and a post-pandemic recovery-led earnings rebound, investors and strategists said. Liquidity from easing monetary and fiscal policy, along with Asian central banks’ early victory on inflation, is expected to defend against …

China reopening, earnings rebound to boost North Asian equities -investors Read More »

TOKYO (Reuters) – Toyota Motor Corp and two allied automakers unveiled a micro-sized electric van targeted at Japan’s delivery industry on the sidelines of the Group of Seven (G7) summit in Hiroshima on Thursday. The small electric commercial van will run on a battery electric vehicle (BEV) system that Toyota is jointly developing with minivehicle …

Toyota, partners to start selling electric micro-vans by March 2024 Read More »

(Reuters) -Aston Martin’s stock popped nearly 22% on Thursday, after the luxury carmaker announced a 234 million pound investment by China’s Geely, that will see the automotive firm become its third-largest shareholder. Geely will acquire about 42 million ordinary shares from Chairman Lawrence Stroll’s Yew Tree, which is currently the Aston Martin’s largest stakeholder, at …

Aston Martin stock soars after $295 million on Geely investment Read More »

By Winni Zhou and Rae Wee SHANGHAI/SINGAPORE (Reuters) – China’s heavily managed yuan has dropped to multi-month lows and breached the closely watched 7-per-dollar level, and analysts who are predicting more weakness point to the U.S. Federal Reserve’s policy as being the bigger driver than economic weakness at home. The yuan, also referred to as …

Analysis-As China’s yuan drops through 7 again, the dollar is in the driver’s seat Read More »

By David Shepardson (Reuters) – Montana Governor Greg Gianforte on Wednesday signed legislation to ban Chinese-owned TikTok from operating in the state to protect residents from alleged intelligence gathering by China, making it the first U.S. state to ban the popular short video app. Montana will make it unlawful for Google and Apple’s app stores …

Montana to become first US state to ban TikTok Read More »