Reuters Asia Business

Dollar crumbles vs yen, in line with Treasury yields, as U.S. growth falls in Q2

28 Jul 2022

By Karen Brettell and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar dropped to a six-week low against the yen on Thursday, tracking the decline in Treasury yields, after data showed the U.S. economy contracted again in the second quarter, fueling speculation that the Federal Reserve will not raise rates as aggressively as previously expected. …

Dollar crumbles vs yen, in line with Treasury yields, as U.S. growth falls in Q2 Read More »

Shares rally, U.S. Treasury yields fall as U.S. economy shrinks

28 Jul 2022

By Sinéad Carew NEW YORK (Reuters) -Wall Street stocks rallied on Thursday, while Treasury yields fell for the third straight day as investors digested data showing a declining U.S. economy for a second straight quarter, a day after the Federal Reserve hiked interest rates. The dollar dropped to a six-week low against the yen, tracking …

Shares rally, U.S. Treasury yields fall as U.S. economy shrinks Read More »

Stellantis CEO says easing chip crunch could throttle back pricing power

28 Jul 2022

By Giulio Piovaccari and Gilles Guillaume MILAN/PARIS (Reuters) -Stellantis beat first-half profit forecasts thanks to strong pricing and high-margin vehicle sales, but rising production as a chip shortage eases could hit the auto industry’s ability to raise prices in 2023, its top executive warned on Thursday. The car industry has benefited from what chief executive …

Stellantis CEO says easing chip crunch could throttle back pricing power Read More »

Asian firms’ capex to shrink in 2023, first since ’15 – data

28 Jul 2022

By Gaurav Dogra and Patturaja Murugaboopathy (Reuters) – Asian companies will slow investment sharply this year, deterred by soaring interest rates and fears of deepening recession, and budgets will on average fall next year, the first contraction since 2015, data showed. Capital spending at large and mid-cap Asian companies is expected to grow 6.4% in …

Asian firms’ capex to shrink in 2023, first since ’15 – data Read More »

PetroChina begins $4.5 billion refinery expansion, state media says

28 Jul 2022

SINGAPORE (Reuters) – PetroChina has launched a 30.5 billion yuan ($4.52 billion) programme to expand a subsidiary refinery in southern China into an integrated petrochemicals complex, Chinese state media reported on Thursday. China’s second-largest state refiner is expected to keep crude oil refining capacity at the Guangxi Petrochemical plant unchanged while adding 14 major petrochemical …

PetroChina begins $4.5 billion refinery expansion, state media says Read More »

Several Taiwan central bank board members raise off-cycle rate hike possibility

28 Jul 2022

TAIPEI (Reuters) – Several board members of Taiwan’s central bank suggested that it could make an off-cycle rate hike before the next scheduled meeting in September, minutes of their June meeting showed on Thursday. The central bank, at its last quarterly meeting in June, raised its policy rate for the second time this year and …

Several Taiwan central bank board members raise off-cycle rate hike possibility Read More »

Hong Kong central bank raises rates, warns of tighter interbank market

28 Jul 2022

By Donny Kwok and Kiki Lo HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 75 basis points to 2.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. Hong Kong’s monetary policy moves in lock-step with …

Hong Kong central bank raises rates, warns of tighter interbank market Read More »

China targets $148 billion in financing for cash-strapped developers – FT

28 Jul 2022

By Akriti Sharma and Clare Jim BENGALURU/HONG KONG (Reuters) -China will help property developers by issuing 1 trillion yuan ($148.2 billion) in loans for stalled developments, the Financial Times said on Thursday, as it tries to revive the debt-stricken sector and relieve pressure on the economy. Once a key pillar of growth, China’s property sector …

China targets $148 billion in financing for cash-strapped developers – FT Read More »

Indonesia’s Krakatau Steel, S.Korea’s POSCO plan $3.5 billion investment

28 Jul 2022

JAKARTA (Reuters) – Indonesia’s Krakatau Steel and South Korea’s POSCO Holdings have agreed to invest $3.5 billion to expand their production capacity in the Southeast Asian country, the companies said on Thursday. Under the deal, the companies agreed to increase production capacity of KRAKATAU POSCO to 10 million tonnes per year for upstream and downstream …

Indonesia’s Krakatau Steel, S.Korea’s POSCO plan $3.5 billion investment Read More »

Close Bitnami banner
Bitnami