Reuters Asia Business

Lighting maker Signify cuts 2022 outlook again on China, business lighting

12 Jan 2023

(Reuters) -Signify NV, the world’s biggest maker of lights, on Thursday again cut its full-year 2022 profit margin and sales guidance, citing a steeper than expected slowdown in China and lower demand for professional indoor lighting. Signify’s shares fell 3.9% in early Amsterdam trading to 31.84 euros. The Dutch group, which had already cut forecasts …

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China’s resale-home transactions 39% higher in Jan than Dec – private survey

12 Jan 2023

BEIJING (Reuters) – Average daily resale-home transactions in China’s 50 cities in the first half of January were 39% higher than in December, reflecting early signs of recovery in the property sector, according to a survey by Beike Research Institute. The number of home buyers’ visits to housing showrooms and home sales, which represent demand, …

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Uniqlo parent says profit slid 2% as Japan, China drag growth

12 Jan 2023

By Rocky Swift TOKYO (Reuters) -Japan’s Fast Retailing Co, owner of clothing brand Uniqlo, said on Thursday that first quarter earnings slid 2%, reflecting weakness at home and continuing COVID-19 restrictions in China. A day after announcing plans for big wage rises, the company said operating profit had been 117.1 billion yen ($889.82 million) in …

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Samsung India says reviewing govt notice on tax dispute

12 Jan 2023

BENGALURU (Reuters) -Samsung Electronics’ Indian unit is reviewing a government notice related to a tax dispute, it said on Thursday, after a media report said a domestic agency accused the company of evading import duties worth 17.28 billion rupees ($212 million). The Economic Times reported that India’s Directorate of Revenue Intelligence (DRI) sent Samsung India …

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Vietnam’s largest refinery to shut for 55 days from Aug 25 for maintenance

12 Jan 2023

HANOI (Reuters) – Vietnam’s largest refinery, Nghi Son, will be shut down for 55 days starting August 25 for major maintenance, the Ministry of Industry and Trade said on Thursday. The 200,000-barrel-per-day refinery will process 7.96 million tonnes of crude oil this year, the ministry said in a statement. This will be the first major …

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Stocks advance, bond yields fall with hopes for weaker U.S. inflation

11 Jan 2023

By Sinéad Carew and Huw Jones NEW YORK/LONDON (Reuters) – Wall Street equities were rising while Treasury yields were falling and the dollar was flat on Wednesday as investors bet that upcoming U.S. inflation data would give the Federal Reserve the go-ahead to slow the pace of its interest rate hikes. Longer-dated treasury yields fell …

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Oil gains 3% on global economic optimism, despite surprise U.S. crude build

11 Jan 2023

By Scott DiSavino NEW YORK (Reuters) -Oil prices rose 3% to a one-week high on Wednesday as hopes for an improved global economic outlook and concern over the impact of sanctions on Russian crude output outweighed a massive surprise build in U.S. crude stocks. Brent futures rose $2.57, or 3.2%, to settle at $82.67 a …

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Failed crypto exchange FTX has recovered over $5 billion, attorney says

11 Jan 2023

By Dietrich Knauth and Tom Hals NEW YORK/WILMINGTON, Del. (Reuters) -Crypto exchange FTX has recovered more than $5 billion in liquid assets but the extent of customer losses in the collapse of the company founded by Sam Bankman-Fried is still unknown, an attorney for the company told a U.S. bankruptcy court on Wednesday. The company, …

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Euro ekes out 7-month high against dollar ahead of U.S. inflation data

11 Jan 2023

By John McCrank NEW YORK (Reuters) -The euro briefly hit a seven-month high against the dollar on Wednesday but held within a narrow range as traders avoided making big moves ahead of U.S. inflation data on Thursday, which may offer a clearer picture of where interest rates are headed. The euro touched $1.07765, its highest …

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