Reuters Asia Business

By Gaurav Dogra and Patturaja Murugaboopathy (Reuters) – Equity analysts are cutting their estimates for Asian companies’ earnings because of worries about slowing global growth and the absence of a boost from China’s reopening from COVID. According to Refinitiv IBES data, analysts have cut their forward 12-month earnings’ estimates by 3.6% since February, more than …

Asian company earnings cut on China, global slowdown worries Read More »

By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – Apple Inc’s Taiwanese supplier Pegatron Corp is in talks to open a second India factory, said two sources with direct knowledge of the matter, as the U.S. tech giant’s partners continue to diversify production away from China. Pegatron plans to add a second facility near …

Apple Inc supplier Pegatron in talks to open second India factory -sources Read More »

SHANGHAI (Reuters) -Chinese food delivery giant Meituan posted a bigger-than-expected 21.4% rise in quarterly revenue on Friday as it fended off competition from powerful rivals such as Alibaba-backed Ele.me. Meituan – whose so-called super app provides services ranging from bike-sharing, movie ticketing, mapping, to food delivery and restaurant bookings – said its total revenue rose …

Chinese food delivery giant Meituan posts 21.4% rise in Q4 revenue Read More »

By Iain Withers LONDON (Reuters) – HSBC has moved its head of markets in Greater China, Justin Chan, to become an adviser to its co-CEOs in Asia Pacific, according to an internal memo seen by Reuters on Friday. HSBC veteran Chan will take up his new role at the start of next month, the memo …

HSBC moves China markets head to become adviser to Asia Pacific co-CEOs Read More »

BEIJING (Reuters) – China’s financial hub Shanghai has a goal of 5% growth in property investment in 2023, the city’s house management bureau said on Friday, after investment in the city’s property sector shrank by 1.1% in 2022. The metropolitan city of 26 million people was hit hard by strict COVID lockdowns a year ago, …

Shanghai targets 5% growth in property investment in 2023 Read More »

By Heekyong Yang and Hyunsu Yim SEOUL (Reuters) -South Korea’s LG Energy Solution Ltd (LGES) said on Friday it would resume a stalled U.S. battery project with a $5.6 billion investment in Arizona to qualify for federal incentives rolled out under the Inflation Reduction Act (IRA). The world’s third-ranked electric vehicle battery maker said in …

S.Korea’s LGES revives Arizona battery factory with $5.6 billion investment Read More »

SHANGHAI (Reuters) -Chinese battery giant CATL plans this year to start mass production and delivery of batteries based on a new materials technology, M3P, which will perform better and cost less than nickel and cobalt-based batteries, its chairman said. M3P batteries will have greater energy density and perform better than lithium-ion phosphate batteries, a market …

China’s CATL to start mass output of M3P batteries this year Read More »

(Reuters) – The Hong Kong Stock Exchange (HKEX) said on Friday it had framed new listing rules for specialist technology companies, adopting a lower revenue threshold for these firms set out in earlier proposals. The bourse operator, a unit of Hong Kong Exchanges and Clearing Ltd, said it would welcome applications operating in frontier industries, …

Hong Kong makes new rules for specialist tech firm listings, cuts rev threshold Read More »