Reuters Asia Business

China leaves benchmark lending rates unchanged for the sixth straight month

SHANGHAI (Reuters) -China left benchmark lending rates unchanged on Thursday for the sixth consecutive month in November, matching market expectations. WHY IT’S IMPORTANT The steady loan prime rate (LPR) fixings underscore the central bank’s reduced urgency to deliver additional monetary easing in the wake of a trade truce between Beijing and Washington, even as October …

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Trafigura’s Nyrstar casts first antimony at South Australia plant

(Reuters) -Trafigura unit Nyrstar said on Thursday it had started casting antimony metal in a pilot plant at its Port Pirie metals facility in South Australia, a project listed as part of the U.S.-Australia Critical Minerals and Rare Earths Framework. The milestone follows an A$135 million ($87 million) investment from the South Australian and Australian governments …

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Analysis-Decades-long contracts chain Asia to coal-fired power

By Sudarshan Varadhan BELEM, Brazil (Reuters) -Decades-long coal-fired power purchase contracts are slowing the transition to cleaner energy sources in Asia, leading utilities to burn more coal even when wind and solar power are available, according to climate researchers and renewable energy advocates. Rising dependence on coal for power generation in countries such as Indonesia …

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NZ’s a2 Milk lifts annual earnings forecast on strong infant formula demand, weaker kiwi

By Rajasik Mukherjee (Reuters) -New Zealand’s a2 Milk on Thursday upgraded its full-year earnings forecast, citing stronger-than-expected trading across its core product categories and a weaker New Zealand dollar, but failed to woo investors with shares hitting a near one-month low. The Auckland-headquartered firm said trading in infant milk formula, or IMF, its top market, …

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Amkor shares rally in late trade, to work with Nvidia on packaging 

(Reuters) -Shares in Amkor Technology rose more than 8% in after-the-bell trading on Wednesday during Nvidia’s conference call after the AI chip leader’s chief financial officer named Amkor among companies it plans to work with on chip packaging.  Amkor shares were last at $33.58 after hitting a high of $34.75 after closing the regular session up 2.4% …

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Japan policymakers agree to watch market with ‘strong sense of urgency’, yen weakens

By Makiko Yamazaki and Leika Kihara TOKYO (Reuters) -Bank of Japan Governor Kazuo Ueda and key economic ministers in the country’s new government have agreed to watch market developments with a “strong sense of urgency,” Finance Minister Satsuki Katayama said on Wednesday.    Katayama also said she had “no particular objection” to Ueda’s explanation that the …

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US senators unveil bill to prevent export monopolies after Huawei showdown 

By Alexandra Alper WASHINGTON (Reuters) -A bipartisan duo of U.S. senators unveiled a bill on Wednesday that directs the Commerce Department to create a level playing field when issuing export licenses and not make decisions that benefit one U.S. company over another.  The legislation, drafted by Democrat Elizabeth Warren and Republican Rick Scott, comes after …

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South Korea antitrust regulator probes Arm Holdings in Seoul, source says

(Reuters) -South Korea’s antitrust regulator is investigating the Seoul offices of Arm Holdings as part of ongoing scrutiny of the company’s licensing practices, a person familiar with the matter told Reuters on Wednesday. Bloomberg News reported earlier that South Korea’s Fair Trade Commission visited Arm’s Seoul office, following a complaint from Qualcomm alleging that the …

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Dutch government steps back from Nexperia intervention to pursue talks with China

By Toby Sterling and Eduardo Baptista AMSTERDAM/BEIJING (Reuters) -A move by the Netherlands to step back from taking control of computer chip maker Nexperia was welcomed by China on Wednesday as a “first step in the right direction” to easing chip supply shortages, following talks between the two governments. Nexperia and its Chinese owner Wingtech …

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