Reuters Asia Business

Thai central bank chief sees limited policy space ahead of tariffs-induced ‘storm’ 

9 May 2025

By Kitiphong Thaichareon BANGKOK (Reuters) – Thailand has limited fiscal and monetary policy room ahead of what could be a prolonged impact from steep U.S. tariffs, but the economy is not in crisis despite facing a very high degree of uncertainty, its central bank chief said on Friday.   Thailand is among the Southeast Asian nations …

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Exclusive-Nvidia modifies H20 chip for China to overcome US export controls, sources say

9 May 2025

By Liam Mo and Brenda Goh BEIJING (Reuters) -Nvidia plans to release a downgraded version of its H20 artificial intelligence chip for China in the next two months, following U.S. export restrictions on the original model, three sources familiar with the matter told Reuters. The U.S. chipmaker has notified major Chinese customers, including leading cloud …

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Indonesia eyes cut in fuel imports from Singapore in favour of US as part of tariffs negotiations

9 May 2025

JAKARTA (Reuters) – Indonesia plans to change the source of some of its fuel imports from Singapore to the United States as part of negotiations over steep tariffs, its energy minister said on Friday.   The United States has imposed a 32% tariff on Indonesian goods, but like other countries, implementation has been paused until July …

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China’s April soybean imports hit decade-low as customs delays disrupt trade

9 May 2025

By Ella Cao and Naveen Thukral BEIJING/SINGAPORE (Reuters) – China’s soybean imports plunged to a 10-year low in April as prolonged customs clearance delays and late Brazilian shipments caused by harvest slowdowns and logistics issues disrupted the usual flow of cargoes, traders and analysts say. Total imports for the month reached 6.08 million metric tons, …

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Singapore’s banks boost buffers amid tariffs uncertainties, OCBC Q1 profit beats

9 May 2025

By Yantoultra Ngui SINGAPORE (Reuters) -Singaporean banks beefed up their buffers against potential loan losses that could emerge due to uncertainties triggered by U.S. President Donald Trump’s tariffs despite strong balance sheets, while delivering a solid first-quarter earnings season. Oversea-Chinese Banking Corp (OCBC), Singapore’s second-largest bank, on Friday said it adopted a prudent approach to …

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BASF’s agriculture arm eyes seeds and Asia as it prepares for listing

9 May 2025

By Patricia Weiss and Ludwig Burger (Reuters) – BASF’s agriculture unit is aiming to expand in Asia and global seed markets as it prepares for a stock market listing in about two years, a senior executive told Reuters. The German industrial chemicals giant has said that its Agricultural Solutions unit should be ready by 2027 …

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China’s SMIC has strong quarter but outlook cloudy due to tariffs, production yields

9 May 2025

By Che Pan and Brenda Goh BEIJING (Reuters) -China’s top foundry, Semiconductor Manufacturing International Corp (SMIC), said first-quarter revenue surged and profit more than doubled, helped in part by rush orders from U.S. customers seeking to beat hikes in tariffs. But the results fell short of analysts’ expectations and SMIC predicted a drop in revenue …

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China’s April bank lending seen plunging from a month ago: Reuters poll

9 May 2025

By Liz Lee BEIJING (Reuters) – China’s April new yuan loans probably shrank significantly from March levels as the trade war with the United States further weighed on the market at a traditionally quiet time of the year, according to a Reuters poll on Friday. Chinese banks are estimated to have issued 700 billion yuan …

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Hong Kong interbank rates witness sharp weekly drop as cash flows in

9 May 2025

By Summer Zhen and Winni Zhou HONG KONG/SHANGHAI (Reuters) -Hong Kong dollar rates fell across the board on Friday, heading for their biggest weekly drop in decades, with money pouring into the city, away from U.S. dollar assets and China’s struggling economy. The surge in liquidity also reflects an infusion of cash from the city’s …

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