Reuters Asia Business

BEIJING -China’s foreign exchange reserves fell more than expected in June, official data showed on Thursday, as the dollar climbed against other major currencies. The country’s foreign exchange reserves – the world’s largest – fell $56.5 billion to $3.071 trillion last month, compared with $3.113 trillion tipped by a Reuters poll of analysts and $3.128 …

China’s June forex reserves fall more than expected to $3.071 trln Read More »

BANGKOK (Reuters) – Thailand’s financial system is resilient and domestic financial markets continue to function normally despite higher volatility stemming from global financial markets, the central bank said on Thursday. Banks held ample levels of capital and loan loss provisions, and were capable of extending liquidity to support continued economic recovery. Securities companies and insurance …

Thai financial system resilient amid global volatility -central bank Read More »

By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) -Sri Lanka raised interest rates to the highest level in two decades on Thursday, saying it had to head off runaway inflation to avoid even deeper pain for an economy that is already in crisis and is shrinking. The Sri Lankan central bank increased its standing lending …

Sri Lanka hikes rates in face of record inflation, despite economic contraction Read More »

By Sonali Paul MELBOURNE (Reuters) -Japan complained to Australia after the state of Queensland, one of the world’s biggest sources of coal and other resources, shocked miners with a steep hike in coal royalty rates to capture windfall profit, Japan’s embassy said on Thursday. Japan has informed the new Labor government about its concerns and …

Japan slams Australian state’s steep coal royalty hike Read More »

By Joyce Lee and Heekyong Yang SEOUL (Reuters) – South Korea’s Samsung Electronics Co Ltd turned in its best April-June profit since 2018 on Thursday, underpinned by strong sales of memory chips to server customers even as demand from inflation-hit smartphone makers cools. Shares of the world’s largest memory-chip and smartphone maker closed up 3.2% …

Chips drive highest Samsung Q2 profit since 2018, but demand cooling Read More »

By Bernadette Christina and Fransiska Nangoy JAKARTA (Reuters) – Indonesia is considering cutting its palm oil export levy to encourage more shipments, a cabinet minister said on Thursday, another move to spur exports after a ban designed to protect domestic cooking oil supplies saw palm oil inventories swell. The world’s biggest producer of the edible …

Indonesia considering cutting palm oil export levy to spur shipments Read More »

HANOI (Reuters) – Vietnam’s rice exports in June were up 2.2% from May at 726,308 tonnes, valued at $354 million, government customs data released on Thursday showed. The country exported 3.5 million tonnes of rice in the first half this year, up 15.4% from a year earlier, worth $1.7 billion, the agency said in a …

Vietnam June rice exports up 2.2% m/m at 726,308 tonnes – customs Read More »