Reuters Asia Business

GlobalWafers expects Chips Act to continue in Trump administration

7 Nov 2024

TAIPEI (Reuters) – Taiwan’s GlobalWafers said it expects the Chips and Science Act award aimed at encouraging investment by chipmakers in the United States would continue under the new U.S. administration. “Multi-year and decadal programs like the CHIPS Act and the agreements we have signed are regularly continued from one administration to the next,” it …

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Japan’s top FX diplomat escalates warnings against weaker yen

7 Nov 2024

By Makiko Yamazaki TOKYO (Reuters) -Japan’s top currency diplomat Atsushi Mimura flagged on Thursday readiness to act against the weaker yen, in the government’s strongest warning against speculators in recent months as the yen plunged to fresh three-month lows. Describing recent currency moves as “one-sided and drastic,” he told reporters that Japanese authorities were “closely …

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Japan inflation-adjusted wages slip in Sept as price rises offset pay growth

7 Nov 2024

TOKYO (Reuters) – Japan’s inflation-adjusted wages fell for the second straight month in September, government data showed on Thursday, underlining the negative effect of persistently elevated prices on nominal pay. Real wages, a key indicator of consumer purchasing power in the world’s fourth-largest economy, fell 0.1% in September, labour ministry data showed, compared with a …

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South Korea says it will work to minimise any adverse trade impact after US election

7 Nov 2024

SEOUL (Reuters) – South Korea’s finance minister said on Thursday its government would work to minimise any adverse impact expected from changing U.S. trade policies by closely discussing the issue with local companies. “We will listen to what companies need to say to come up with strategies to respond, and work to minimise any adverse …

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Half of Japan firms target wage hike of 3% or more for 2025, Reuters survey shows

7 Nov 2024

TOKYO (Reuters) – Slightly more than half of Japanese firms are looking to raise wages by 3% or more for the next business year, a Reuters survey showed, but a majority of companies baulked at Prime Minister Shigeru Ishiba’s quest to hike minimum pay by over 40% in five years. The survey, conducted by Nikkei …

Half of Japan firms target wage hike of 3% or more for 2025, Reuters survey shows Read More »

Arm forecasts results in line with expectations and shares drop

7 Nov 2024

By Max A. Cherney, Deborah Mary Sophia SAN FRANCISCO (Reuters) -Chip designer Arm Holdings on Wednesday forecast revenue in line with Wall Street targets, sparking a 4.5% drop in shares that some analysts attributed to dashed hopes for stronger, AI-fueled growth. Bets that Arm, which licenses its designs, will benefit from a surge in AI …

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Manulife profit beats expectation on Asia, wealth management businesses strength

7 Nov 2024

(Reuters) -Manulife Financial posted a better-than-expected third-quarter profit on Wednesday, as the Canadian insurer benefited from a robust performance in its Asia and wealth management businesses. Canada’s leading life insurers have increasingly focused on expansion in Asia, a key market for their growth and global exposure. Core earnings from Manulife’s Asia business jumped 17% to …

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Malaysia central bank set to manage market volatility, monitoring US election

6 Nov 2024

By Yantoultra Ngui SINGAPORE (Reuters) -Malaysia’s central bank, Bank Negara Malaysia (BNM), is closely monitoring the U.S presidential election and was prepared to manage market volatility and ensure orderly market conditions, it told Reuters late on Tuesday. “Bank Negara Malaysia closely monitors global developments, including the U.S. elections, that could affect the financial markets,” it …

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