Reuters Asia Business

By Savyata Mishra (Reuters) – Investors turned less bearish on the Chinese yuan and the Singaporean dollar as they cut short bets across most Asian currencies, a Reuters poll found, as fears of a banking crisis likely prompted a shift towards a pause in policy tightening by major central banks. Short bets on the yuan …

Investors cut bearish bets on most Asian FX as policy rate bets shift: Reuters poll Read More »

HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) on Thursday lifted its base rate charged through the overnight discount window by 25 basis points to 5.25%, hours after the U.S. Federal Reserve delivered a rate rise of the same margin. Hong Kong’s monetary policy moves in lock-step with the U.S. as the city’s currency …

Hong Kong central bank raises policy rate after Fed hike Read More »

By Jonathan Stempel NEW YORK (Reuters) -A U.S. judge said Alibaba Group Holding Ltd, the Chinese e-commerce giant founded by Jack Ma, must face claims it defrauded shareholders about its alleged monopolistic practices, but dismissed claims over a shelved initial public offering for its Ant Group affiliate. In a 31-page decision on Wednesday, U.S. District …

U.S. judge narrows shareholder lawsuit against Alibaba Read More »

By Lisandra Paraguassu and Ana Mano SAO PAULO (Reuters) – More than a quarter of business leaders traveling to China with President Luiz Inacio Lula da Silva next week come from Brazil’s booming meat industry, highlighting the high stakes for a sector reliant on Chinese demand for most of its exports. With 69 of the …

With stakes high, Brazil meat industry dominates Lula delegation to China Read More »

BERLIN (Reuters) – Germany’s Interior Minister Nancy Faeser is concerned about the close ties between Deutsche Telekom and Chinese company Huawei and wants to examine them, Handelsblatt newspaper reported on Wednesday. “That doesn’t look good,” Faeser was quoted as saying by the paper. Germany is considering banning certain components from Chinese companies Huawei and ZTE …

Germany to examine Deutsche Telekom, Huawei ties – Handelsblatt Read More »

By Alexandra Alper and David Shepardson WASHINGTON (Reuters) – The Biden administration is under pressure to ban popular Chinese-owned social media app TikTok, but any such move likely hinges on passage of a new law that bolsters the government’s authority to regulate speech, experts said. Pressure is mounting from lawmakers and national security hawks to …

TikTok would be tough to ban in the US without a new law, experts say Read More »

By Josh Ye (Reuters) -Tencent Holdings reported a drop in annual revenue for the first time ever, as China’s economic slowdown due to the pandemic and a long-running regulatory crackdown took a toll.  The world’s largest video game company and the operator of the WeChat messaging platform posted a revenue of 554.55 billion yuan ($81 …

Tencent’s annual revenue drops for first time as China crackdown bites Read More »