Reuters Asia Business

Chinese foreign ministry urges Sino-US dialogue as import tariffs kick in

5 Feb 2025

BEIJING (Reuters) -The Chinese foreign ministry called for dialogue between China and the United States on Wednesday as an additional 10% in U.S. tariffs on all Chinese products kicked in. China, in response to the latest U.S. tariffs, has announced counter-tariffs of up to 15% on some U.S. imports starting on Feb. 10, buying Washington …

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Fuel oil rally seen short-lived as market shakes off US-Iran policy jitters

5 Feb 2025

By Jeslyn Lerh SINGAPORE (Reuters) -Fuel oil margins climbed after U.S. President Donald Trump reimposed a stricter policy on Iran, though trade sources expect a short-lived rally due to unclear supply disruptions, while soft China demand and broader tariff fears weighed on sentiment. The market, particularly for high-sulphur fuel, has undergone volatile movements so far …

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Data centre demand drives Keppel’s annual profit higher

5 Feb 2025

(This Feb. 4 story has been corrected to show that the net profit excludes effects of legacy offshore and marine assets in paragraph 6) (Reuters) – Singapore’s Keppel posted a 5% rise in its full-year underlying profit on Wednesday, as earnings for its connectivity segment were boosted by strong demand for digital infrastructure required for …

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Tokyo tech IPO soars but Seoul deal tanks 10% in volatile Asian markets

5 Feb 2025

By Scott Murdoch and Joyce Lee SYDNEY/SEOUL (Reuters) -Shares of a small Japanese technology firm shot up nearly 60% on its first day of trade on Wednesday, while Seoul’s largest initial public offering (IPO) in three years tanked almost 10% as volatility driven by geopolitics again gripped Asia’s equity markets. South Korea’s LG CNS shares …

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Chinese firms control around 75% of Indonesian nickel capacity, report finds

5 Feb 2025

JAKARTA (Reuters) – Chinese firms control about 75% of Indonesia’s nickel refining capacity, raising concern over supply chain control and environmental risks, Washington-based global security nonprofit C4ADS has said in a report. According to the report, Indonesia’s 8 million metric ton refining capacity was distributed across 33 companies, but ownership tracing showed shareholder overlap, and …

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BNP Paribas appoints Karine Delvallee as new regional head for Southeast Asia

5 Feb 2025

SINGAPORE (Reuters) – BNP Paribas said on Wednesday that it has appointed Karine Delvallee as its new regional head for Southeast Asia and new chief executive officer of the BNP Paribas Singapore branch, according to a statement from the French bank. In her new role, Delvallee, having previously served as CEO of BNP Paribas Australia …

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Thai business group keep 2025 GDP forecast at 2.4% to 2.9%

5 Feb 2025

BANGKOK (Reuters) – Thailand’s economy is still expected to grow between 2.4% to 2.9% this year despite intensifying global trade wars and increased competition from imported goods, a leading joint business group said on Wednesday. Domestic demand remains weak while the strengthening of the baht poses a challenge to exports, a key driver of Southeast …

Thai business group keep 2025 GDP forecast at 2.4% to 2.9% Read More »

Chinese chip makers, cloud providers rush to embrace homegrown DeepSeek

5 Feb 2025

By Brenda Goh and Yuhan Lin SHANGHAI (Reuters) – Chinese companies, from chip makers to cloud service providers, are rushing to support DeepSeek’s artificial intelligence models, spurring analysts to hail a “watershed moment” for the industry. Moore Threads and Hygon Information Technology, which makes AI chips and looks to compete with Nvidia, said on Monday …

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China has delayed or redirected 600,000 tons of wheat imports, sources say

5 Feb 2025

By Naveen Thukral and Peter Hobson SINGAPORE/CANBERRA (Reuters) – China has delayed imports of up to 600,000 metric tons of mostly Australian wheat and offered some of these cargoes to other buyers as ample domestic supplies reduce demand in the world’s top buyer of the grain, two trade sources with direct knowledge of the matter …

China has delayed or redirected 600,000 tons of wheat imports, sources say Read More »

Xiaomi founder sets 10,000 sales target for luxury version of flagship EV

5 Feb 2025

BEIJING (Reuters) – The luxury version of Xiaomi’s flagship electric vehicle, the SU7 Ultra, will be launched at the end of February, with a sales target of 10,000 units for this year, founder Lei Jun said on his Red Note account on Wednesday. (Reporting by Qiaoyi Li and Brenda Goh; Editing by Jacqueline Wong)

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