Reuters Asia Business

New Asian undersea cable ADC ready to operate, developer says

19 Dec 2024

HANOI (Reuters) -A new undersea fiber-optic cable connecting Japan to Singapore with branches to other Asian countries is ready for operation this month, one of the developers said on Thursday. The Asia Direct Cable (ADC), which has been under development for years, was inaugurated on Wednesday at a ceremony in Hanoi, Vietnam’s capital, Vietnamese military-run …

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US considers ban on China’s TP-Link over security concerns, WSJ reports

19 Dec 2024

(Reuters) -U.S. authorities are considering a ban on China’s TP-Link Technology Co over national security concerns after its internet routers were linked to cyber attacks, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. In August, two U.S. lawmakers urged the Biden administration to probe the Chinese router-manufacturer and its affiliates …

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Sumitomo Chemical to exit resale business of imported aluminium ingots

19 Dec 2024

By Yuka Obayashi TOKYO (Reuters) – Japan’s Sumitomo Chemical said on Thursday it will sell its 2.97% stake in Brazilian smelter Nippon Amazon Aluminium to YKK AP for an undisclosed sum and exit the business of reselling imported aluminium ingots. The decision to leave the long-standing business was due to high volatility in profitability driven …

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China expected to leave lending benchmarks unchanged amid rate risks

19 Dec 2024

SHANGHAI (Reuters) – China is widely expected to leave its benchmark lending rates unchanged on Friday, a Reuters poll showed, as falling yields, shrinking net interest margins and a weakening yuan create limits for immediate monetary easing. Yield differentials between China and the U.S. hit their widest in 22 years this week, dragging the yuan …

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Indonesian arm of Malaysia’s Mr DIY climbs on market debut

19 Dec 2024

By Stefanno Sulaiman and Yantoultra Ngui JAKARTA/SINGAPORE (Reuters) -The Indonesian arm of Malaysia-based home improvement retailer Mr DIY Group shook off a wobbly start to rise on its stock market debut on Thursday. The listing came against the backdrop of broad weakness in Asian stocks after the U.S. Federal Reserve cautioned it would ease the …

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South Korean won hits 15-year low as hawkish Fed, domestic politics weigh

19 Dec 2024

By Jihoon Lee and Yena Park SEOUL (Reuters) -The South Korean won dropped to its weakest level in 15 years on Thursday, weighed down by risk-averse sentiment after the U.S. Federal Reserve’s cautious stance on more interest rate cuts, as well as domestic political uncertainty. The won was quoted at 1,448.9 per dollar in onshore …

South Korean won hits 15-year low as hawkish Fed, domestic politics weigh Read More »

Hong Kong central bank cuts interest rate tracking Fed move, banks follow

19 Dec 2024

HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) on Thursday cut its base interest rate charged via the overnight discount window by 25 basis points to 4.75%, tracking a move by the U.S. Federal Reserve. Major Hong Kong banks followed with reductions, but some at a smaller magnitude. HSBC cut its Hong Kong dollar …

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Dealmakers eye $4 trillion-plus M&A haul in 2025

19 Dec 2024

By Anirban Sen, Anousha Sakoui and Kane Wu LONDON/NEW YORK/HONG KONG (Reuters) – Top dealmakers expect global mergers and acquisitions (M&A)volumes to surpass $4 trillion next year, the highest in four years, buoyed by U.S. President-elect Donald Trump’s promise of less regulation, lower corporate taxes and a broadly pro-business stance. Following are comments from investment …

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Investors react to BOJ’s decision to keep rates steady

19 Dec 2024

(Reuters) – The Bank of Japan kept interest rates steady on Thursday, as policymakers preferred to tread cautiously in pushing up borrowing costs amid uncertainty over U.S. president-elect Donald Trump’s economic plans. As widely expected, the nine-member BOJ board decided to keep its short-term policy rate unchanged at 0.25%. But hawkish board member Naoki Tamura …

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