Reuters Asia Business

Thailand cuts rates again, could face recession as US tariffs loom

30 Apr 2025

By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) -Thailand’s central bank cut its key interest rate by a quarter point for a second consecutive meeting on Wednesday, as expected, seeking to support the underperforming economy which is facing fresh pressure from steep U.S. tariffs. The Bank of Thailand’s monetary policy committee voted 5-2 to reduce …

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China’s CATL to launch Hong Kong listing in week of May 12, sources say

30 Apr 2025

HONG KONG/SYDNEY (Reuters) – Chinese battery giant CATL <300750.SZ> plans to launch its Hong Kong listing during the week of May 12, according to two sources with direct knowledge of the matter, in what is set to be the city’s largest share sale in four years. The bookbuilding for the deal, or the process to …

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Xi says China’s economy should adapt to external changes

30 Apr 2025

BEIJING (Reuters) -Chinese President Xi Jinping called on Wednesday for action to adjust to changes in the international environment as the country drafts economic plans for the next five years, state-run Xinhua reported. U.S. President Donald Trump’s global trade war has shaken financial markets and stoked fears of a recession, as escalating tit-for-tat tariffs between …

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Logistics firm DSV says trade tensions intensifying production shift out of China

30 Apr 2025

COPENHAGEN (Reuters) -Global freight company DSV said on Wednesday that its customers are hastening a shift of production from China to other Asian markets due to escalating trade tensions and tariff concerns. This trend of diversifying manufacturing, known as the “China plus one” policy, has intensified since the COVID-19 pandemic and the ongoing trade war …

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China’s Zhejiang Jiaao gets export licence for sustainable aviation fuel

30 Apr 2025

By Chen Aizhu and Trixie Yap SINGAPORE (Reuters) -China’s Zhejiang Jiaao Enprotech said on Wednesday its subsidiary had obtained a state-granted export licence for sustainable aviation fuel for 2025. This is one of the first such permits Beijing has granted to the country’s nascent low-carbon aviation fuel industry, industry officials said. Export licences are among …

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Australia’s CSL evaluates China tariff exemptions for its US-made drugs

30 Apr 2025

By Andrew Silver SHANGHAI (Reuters) -Australia’s CSL Ltd said it’s evaluating whether its drugs used in surgery would be exempted from 125% tariffs China imposed on U.S.-made goods, as it seeks to minimise impact of a trade war between Beijing and Washington. China has granted tariff exemptions on select products, including select pharmaceuticals, and has …

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South Korea’s SK Innovation says refining margins will improve after surprise Q1 loss

30 Apr 2025

By Heekyong Yang and Joyce Lee SEOUL (Reuters) -SK Innovation Co Ltd, owner of South Korea’s biggest oil refiner SK Energy, swung to an unexpected operating loss in the first quarter on weaker oil prices, but forecast a recovery in refining margins in the second quarter. The company posted an operating loss of 45 billion …

South Korea’s SK Innovation says refining margins will improve after surprise Q1 loss Read More »

Japan’s Rakuten to invest at least $100 million in India, increase hiring, top executive says

30 Apr 2025

By Shivani Tanna (Reuters) -Japan’s Rakuten aims to invest at least $100 million and increase its headcount by 8% in India this year to strengthen its global operations, a top executive of the internet conglomerate told Reuters. Rakuten plans to invest “at least three digit millions dollars” to scale up technology, infrastructure and hiring, Rakuten’s …

Japan’s Rakuten to invest at least $100 million in India, increase hiring, top executive says Read More »

Record gold prices help keep China’s copper smelters going despite losses

30 Apr 2025

SHANGHAI (Reuters) -Surging prices for gold and other byproducts are keeping China’s copper smelters afloat and could fend off significant production cuts this year despite a key gauge of industry profitability forecast to slump even further into the red. China’s copper smelting industry is in a deep funk as an ever-growing number of furnaces jostle …

Record gold prices help keep China’s copper smelters going despite losses Read More »

Chip designer MediaTek unable to give full-year outlook given tariff uncertainty

30 Apr 2025

TAIPEI (Reuters) -The chief executive of Taiwan’s top chip design company MediaTek said on Wednesday he was unable to give full-year earnings guidance due to uncertainty about U.S. tariffs, but that he was generally optimistic given strong AI demand. Tech firms in Taiwan, home to the world’s largest contract chipmaker TSMC, face the possibility that …

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