By Joyce Lee SEOUL (Reuters) -South Korean battery maker LG Energy Solution said on Monday it plans to invest 4 trillion won ($3.1 billion) from this year to 2026 in a facility making batteries for electric vehicles and other goods. The project in Ochang, South Korea, will include R&D and production facilities and related infrastructure, …
LG Energy Solution to invest $3.1 billion in S.Korea battery facility Read More »
By Summer Zhen and Xie Yu HONG KONG (Reuters) – Asia’s hedge funds are heading for their worst showing in a dozen years, with long-short stockpickers wrongfooted by volatility in China, while macro strategy funds riding big global shifts in interest rates shine. China is loosening its rigid COVID-19 movement and testing controls, but the …
Asia’s stockpickers struggle in vintage year for big picture hedge funds Read More »
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s key interest rate will continue to rise until the economy grows at its full potential and inflation returns to target, with gradual policy normalisation still appropriate, the central bank said on Monday. Monetary tightening globally has had a limited impact on the country’s financial conditions, …
Thai rates to rise for “a while” to help economy grow fully – central bank Read More »
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Japan next year will consider revising its decade-old blueprint for fighting deflation, sources said, as financial markets bet that a weak yen and rising consumer prices will force the central bank to finally drop its ultra-loose monetary policy. The government could initiate the revision after a …
Japan to consider revising Abe-era deflation fighting mandate – sources Read More »
SHANGHAI (Reuters) – China is likely to keep benchmark lending rates unchanged for the fourth straight month in December on Tuesday, a Reuters survey showed, but expectations for monetary easing are rising. Political leaders vowed at an agenda-setting meeting last week to step up support for the economy battling a wave of infections after rigid …
China seen keeping benchmark lending rates unchanged for 4th month Read More »
TOKYO (Reuters) -Japan’s Renesas Electronics Corp has suspended work at its Beijing chip plant because of COVID-19 infections and will keep it closed for several days, it said on Monday, one of the first suspensions by a major foreign manufacturer. Renesas, the world’s leading maker of automobile chips, said it halted the factory on Friday. …
Japanese chipmaker Renesas halts Beijing plant as COVID spreads Read More »
MELBOURNE (Reuters) – Australia revised upwards its resources and energy export earnings for the current financial year to hit a record A$459 billion ($308 billion) on Monday, as the war in Ukraine boosts prices of energy commodities. The country is set to see strong growth in revenue from exports of thermal coal used in power …
Australia revises up resources export earnings to $308 billion for FY23 Read More »
HONG KONG (Reuters) – Chinese logistics and commercial developer China South City Holdings Limited said it had agreed to sell a nearly 70% shareholding in a business that holds its projects in the central city of Xian to a state-owned shareholder for 5 billion yuan ($717 million). The developer said in a filing it is …
Developer China South City sells 70% stake in Xian projects for $717 million Read More »
SINGAPORE (Reuters) – China’s diesel and gasoline exports continued to surge in November, hitting their highest levels since June and May 2021 respectively, as refiners dashed to use up their 2022 export quotas and sell down rising inventory. China shipped out 2.1 million tonnes of diesel last month, double the level in October and up …
China’s November diesel, gasoline exports jump to highest in over a year Read More »
BEIJING (Reuters) – China’s aluminium imports in November fell 35.7% from a year earlier as a result of mounting domestic supply, also as the COVID-hit economy continued to temper demand for the light metal. The country brought in 255,744 tonnes, including primary metal and unwrought, alloyed aluminium, last month, according to data from the General …
China Nov aluminium imports fall amid rising domestic supply Read More »
