Reuters Asia Business

(Reuters) -BYD Co shares sank nearly 12% on Tuesday after a large stake matching the size of Berkshire Hathaway Inc’s investment in the Chinese electric car company appeared in Hong Kong’s clearing system. The development prompted speculation that Warren Buffett’s company might be reducing its multi-billion-dollar stake in BYD. A 225 million share BYD stake …

Chinese electric car company BYD slides on speculation Buffett is reducing stake Read More »

(Reuters) – Malaysian state oil company Petronas confirmed on Tuesday that two of its subsidiaries in Luxembourg were seized. The units were seized by the descendants of a late sultan, escalating a $15 billion legal dispute linked to an agreement signed 144 years ago, the Financial Times reported earlier in the day, citing lawyers. The …

Malaysia’s Petronas says Luxembourg assets seized Read More »

By Jeanny Kao and Ben Blanchard TAIPEI (Reuters) – Taiwan would be “happy” to see its chip firms invest in the European Union but deeper ties with the bloc akin to Taipei’s relations with Washington could help pave the way for that, a senior Taiwanese official told Reuters. The EU has been courting Taiwan, a …

Taiwan ‘happy’ to see chip investment in EU, wants deeper ties Read More »

TOKYO (Reuters) – Japan’s industry minister Koichi Hagiuda said on Tuesday he will again ask the United States and Australia to boost output of liquefied natural gas (LNG) and ensure a stable supply to the country when he meets his counterparts in Sydney later this week. “I will once again firmly request the United States, …

Japan to ask U.S., Australia to ensure stable LNG supply – industry minister Read More »

(Reuters) – The London Metal Exchange (LME) is hoping to announce a return to Asian trading hours for its nickel contract “soon”, its chief executive said on Tuesday. The LME wants the market to focus on liquidity of the nickel contract in London hours until it reaches a comparable level prior to a suspension in …

LME hopes to announce nickel Asian trading return ‘soon’ – CEO Read More »

By Kane Wu HONG KONG (Reuters) – Alibaba’s supermarket chain Freshippo is seeking to raise funds at a valuation of about $6 billion, much lower than a hoped-for valuation of up to $10 billion earlier this year, three people familiar with the matter told Reuters. The company had to cut its valuation expectations after China’s …

Exclusive: Alibaba’s Freshippo seeks funds at much lowered $6 billion valuation – sources Read More »

SINGAPORE (Reuters) -Saudi Aramco has notified at least three North Asian buyers that it will supply full contractual volumes of crude oil in August, sources with knowledge of the matter said on Tuesday. The world’s top oil exporter cut supply to some refiners, mostly Chinese, in July as more cheap Russian oil heads to the …

N.Asian refiners to receive full Saudi crude allocation in August Read More »

By Alun John and Chen Lin HONG KONG/SINGAPORE (Reuters) – Singapore’s burgeoning cryptocurrency sector has been shaken by the recent collapse of Three Arrows Capital, a cryptocurrency hedge fund, and signs of tighter scrutiny by regulators at the Monetary Authority of Singapore. Following are key facts about the rise of Singapore as an Asian cryptocurrency …

Factbox – Singapore’s rise, and falter, as Asia cryptocurrency hub Read More »

By Selena Li and Julie Zhu HONG KONG (Reuters) -Wang Sheng, investment banking head of China International Capital Corp Ltd (CICC), is set to leave the bank to take over as chief executive of smaller peer China Galaxy Securities, six people with direct knowledge of the matter said. Wang, who has spent his entire career …

CICC investment banking head to take helm at broker Galaxy – sources Read More »

By Scott Murdoch HONG KONG (Reuters) -Hong Kong needs to allow financial sector employees to travel freely to retain its global investment and banking hub status, an industry report said, as the city continues to maintain some of the strictest coronavirus regulations in the world. “It is critical that a delicate balance is struck giving …

Hong Kong needs to allow free travel to retain financial hub status – report Read More »