Reuters Asia Business

SEOUL (Reuters) – Bank of Korea (BOK) monetary policy committee member Suh Young-kyung said on Tuesday that monetary policy needs to be flexible, as trade-offs have intensified between external and internal financial stabilities. “There is a need to operate macroeconomic policy in a flexible manner in order to maintain internal and external balances,” Suh said, …

Bank of Korea board member Suh says macroeconomic policy needs to be flexible Read More »

LONDON (Reuters) – Investment bank JPMorgan cut its forecasts for economic growth in China on Tuesday due to the country’s ongoing COVID-19 restrictions. JPMorgan has lowered its projections a number of times already this year and the latest move cut its fourth quarter forecasts to 2.4% quarter-on-quarter from 5.2% previously and dropped the full-year forecast …

JPMorgan cuts China quarterly and full-year growth forecasts Read More »

TAIPEI (Reuters) – China is no longer a place to invest and has left “the free market” under President Xi Jinping, said U.S. venture capitalist Tim Draper, an early investor in Elon Musk’s Tesla and SpaceX. Draper was also an early and prominent investor in Chinese search engine Baidu Inc, but he is now turning …

Tech investor Draper sours on China, says it has left the free market Read More »

By Ellen Zhang and Kevin Yao BEIJING (Reuters) – China’s economy suffered a broad slowdown in October as factory output grew more slowly than expected and retail sales fell for the first time in five months, underscoring faltering demand at home and abroad. The world’s second-largest economy is facing a series of headwinds including protracted …

China’s economy loses momentum as COVID curbs hit factories, consumers Read More »

By Tetsushi Kajimoto and Kantaro Komiya TOKYO (Reuters) – Japan’s economy unexpectedly shrank for the first time in a year in the third quarter, stoking further uncertainty about the outlook as global recession risks, a weak yen and higher import costs took a toll on household consumption and businesses. The world’s third-biggest economy has struggled …

Japan’s economy unexpectedly shrinks as hot inflation, global slowdown take toll Read More »

By Julie Zhu, Scott Murdoch and Kane Wu HONG KONG/SYDNEY (Reuters) – The fintech arm of Chinese e-commerce firm JD.Com aims to win Beijing regulators’ approval to list in Hong Kong as soon as the end of the year, three people with direct knowledge of the matter said, after a first attempt failed earlier this …

JD.Com fintech unit aims to win Beijing approval for HK IPO as soon as year-end – sources Read More »

By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) – Sri Lanka needs to implement budget proposals and reform measures to start earning crucial foreign exchange to help stabilise its economy and ensure it does not return to crisis, its central bank chief said on Tuesday. The Sri Lankan economy can turn around by the end …

Sri Lanka must implement budget proposals to avoid return to crisis Read More »

By Lisa Pauline Mattackal and Medha Singh (Reuters) – Solana, a poster coin of the crypto future, is in trouble. The cryptocurrency, which had been lauded by FTX’s founder Sam Bankman-Fried, has been hit harder than any other major coin by the collapse of the exchange. The Solana token, or SOL, has dropped 53.8% since …

Cryptoverse: So long, Solana? Ether rival clobbered by FTX crash Read More »