Reuters Asia Business

(Reuters) – Monday’s selloff in Chinese equities does not correspond with fundamentals and creates an opportunity for investors, analysts at JPMorgan said on Monday. “We believe this is a good opportunity to add given an expected growth recovery, gradual COVID reopening, and monetary and fiscal stimulus,” wrote the bank’s analysts in a strategy note, adding …

China equity selloff not on fundamentals, creates opportunity – JPM Read More »

By Tetsushi Kajimoto and Yoshifumi Takemoto TOKYO (Reuters) -Japanese policymakers on Monday continued efforts to tame sharp yen falls, including through two straight market days of suspected intervention, but ultimately failed to prop up the currency against persistent dollar strength. The yen’s sell-off is hurting the world’s third-largest economy by driving already surging import bills …

Japan’s suspected FX intervention fails to stem yen slide Read More »

TOKYO (Reuters) – Japanese ruling party secretary general Toshimitsu Motegi indicated on Monday that a planned economic spending package aimed at cushioning the blow from rising living costs will total around 26 trillion yen ($174 billion), Kyodo news agency reported. Prime Minister Fumio Kishida’s administration is expected to approve the package at a cabinet meeting …

Japan ruling party indicates stimulus to total around $174 billion -Kyodo Read More »

By Leika Kihara TOKYO (Reuters) – The Bank of Japan is expected to raise its inflation forecasts on Friday but keep ultra-low interest rates steady in a show of resolve to support the fragile economy, even at the cost of accelerating an unwelcome fall in the yen to fresh 32-year lows. Authorities have struggled to …

Unfazed by yen’s slump, BOJ seen keeping ultra-low rates Read More »

TOKYO (Reuters) – Japanese Economy Minister Daishiro Yamagiwa plans to step down on growing calls from the opposition to resign due to his insufficient explanations about his ties to the controversial Unification Church, public broadcaster NHK said on Monday. His resignation would be a blow to Prime Minister Fumio Kishida as revelations about connections between …

Japan econmin Yamagiwa to step down – NHK Read More »

By Selena Li HONG KONG (Reuters) – Goldman Sachs has launched a joint venture in China with local logistics company Sunjade in a bid to boost investment in Chinese logistics and infrastructure real estate assets, the U.S. bank said on Monday. The bank is forming the new unit via its investment arm Goldman Sachs Asset …

Goldman Sachs launches Chinese infrastructure real estate joint venture Read More »

By Dominique Patton and Chen Aizhu (Reuters) – China’s diesel exports in September surged to their highest in more than a year while aviation fuel shipments were the most in 29 months as refiners rushed to cash in on robust export margins, data showed on Monday. Exports of diesel fuel last month more than doubled …

China’s diesel fuel exports more than doubled in September Read More »

By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korea’s POSCO Holdings on Monday forecast weak steel demand would persist into the first half of next year after a price slump and a production halt at its second-biggest plant led to a 71% fall in third-quarter operating profit. The holding company of South Korea’s biggest …

S.Korea’s POSCO Holdings sees steel demand remaining weak; Q3 profit tumbles Read More »

By Ryan Woo and Ellen Zhang BEIJING (Reuters) – China’s economy rebounded at a faster-than-anticipated clip in the third quarter, but a more robust revival in the longer term will be challenged by persistent COVID-19 curbs, a prolonged property slump and global recession risks. Helped by a raft of government measures, the world’s second-biggest economy …

China Q3 GDP growth tops forecasts but meaningful rebound elusive Read More »

By Heekyong Yang and Joyce Lee SEOUL (Reuters) – Hyundai Motor Co raised earnings guidance on Monday, buoyed by premium vehicle sales and a foreign exchange lift, but disappointing quarterly results and an uncertain U.S. electric vehicle (EV) sales outlook sent its shares down 3%. South Korea’s Hyundai and its affiliate Kia Motors, which make …

Hyundai’s bright profit view clouded by U.S. EV concerns Read More »