SEOUL (Reuters) -Board members of South Korea’s central bank said it was necessary to continue easing monetary policy to support economic growth, but with caution over associated risks, minutes of their May 29 policy meeting showed on Tuesday. One member “emphasised the importance of assessing the risks associated with further rate cuts and calibrating the …
Bank of Korea to lower interest rates cautiously, minutes show Read More »
(Reuters) -Foreign investments in Asian bonds hit a near-10 year high in May, driven by a weaker dollar, concerns over U.S. fiscal risks, and expectations of rate cuts in regional economies. Foreign investors bought Asian bonds worth $15.29 billion on a net basis in May, the most for a month since at least January 2016, …
Asian bonds draw biggest foreign inflows in nearly a decade in May Read More »
(Changes byline, dateline, no change to text) By Laurie Chen BEIJING (Reuters) – Some Chinese civil servants have been ordered not to dine out in groups of more than three after deaths linked to excessive alcohol consumption at banquets, according to interviews and social media posts, as Beijing’s austerity push ramps up. Revised austerity regulations …
China’s civil servants banned from dining out in Xi’s austerity drive Read More »
LONDON (Reuters) -Central banks around the world expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council (WGC) showed. Gold demand from central banks has risen significantly over the past three years despite …
Central banks favour gold over dollar for reserves, WGC survey Read More »
By Libby George LONDON (Reuters) -A weakening U.S. dollar is lifting a long-neglected asset class – emerging market local currency debt – after a more than decade-long drought. Emerging market local-currency bond funds saw a new record of inflows in the week to Wednesday, according to EPFR data, notching eight straight weeks of inflows. The …
By Summer Zhen and Nell Mackenzie HONG KONG (Reuters) -Global hedge funds posted their biggest jump in trading volumes across Asian markets in over five years last week, a Goldman Sachs note showed. Funds were buying and short-selling, with bullish positions in Asia between June 6 and June 12 hitting their highest level since September …
Hedge funds’ bets on Asia hit five-year high, says Goldman Read More »
By Arriana McLymore NEW YORK (Reuters) -Amazon.com’s annual Prime Day sales event is scheduled for July 8 through July 11, expanding to four days from two days compared to last year, the company announced on Tuesday. “We’re extending it to four days because our members have told us they just need more time to shop …
Amazon announces four-day Prime Day discount event Read More »
By Kitiphong Thaichareon BANGKOK (Reuters) -Thailand’s formal trade proposal will be submitted to the U.S. this week, with the first round of discussions set to take place online, the country’s finance minister said on Tuesday, as it seeks to head off the threat of higher U.S. tariffs. The Southeast Asian nation faces a 36% U.S. …
Thai trade proposal to be submitted to US this week, finance minister says Read More »
HANOI (Reuters) -Vietnam’s National Assembly, the country’s lawmaking body, on Tuesday passed a resolution to extend a cut in the value-added tax rate until the end of next year, state media reported. Vietnam cut its VAT rate to 8% from 10% in early 2022 to support the economy after the COVID-19 pandemic, and has since …
Vietnam parliament approves extension of VAT cut until end-2026 Read More »
By Che Pan and Eduardo Baptista BEIJING (Reuters) -U.S. chip giant Nvidia will attend a major supply-chain expo in July in Beijing for the first time, Chinese state broadcaster CCTV reported on Tuesday. The third edition of the China International Supply Chain Expo will be held from July 16 to 20 and will welcome more …
Nvidia to attend China supply-chain expo in July for first time, CCTV reports Read More »
