By Liz Lee BEIJING (Reuters) – China’s new yuan loans are expected to fall sharply in October from September, a Reuters poll showed on Friday, signalling weak credit demand even as the central bank ramps up policy stimulus to buttress the economy. Banks likely issued 700 billion yuan ($97.86 billion) in net new yuan loans …
China October bank lending seen declining despite policy measures: Reuters poll Read More »
BANGKOK (Reuters) – Thailand is pursuing new digital policies to handle emerging security threats including the impacts of U.S.-China rivalry on the economy and technology, its prime minister said on Friday. “We will accelerate policies so that the digital economy makes up 30% of GDP by 2030,” Paetongtarn Shinawatra said in an address at the …
Thailand to pursue new policies to boost and protect digital economy Read More »
TOKYO (Reuters) – U.S. President-elect Donald Trump’s economic and policies could further weaken the yen’s value against the U.S. dollar, the head of an opposition party that Japanese Prime Minister Shigeru Ishiba needs to stay in power said on Friday. “The potential increase in tariffs or tax cuts could lead to inflation (in the U.S.) …
Japan’s political kingmaker says Trump policies may weaken yen Read More »
By Antoni Slodkowski, James Pomfret and Laurie Chen BEIJING/HONG KONG (Reuters) – After Donald Trump first stormed the White House eight years ago, rattled Chinese leaders responded to his tariffs and fiery rhetoric with force, resulting in a trade war that plunged ties between the globe’s largest economies to multiyear lows. This time around, Beijing …
Analysis-Ready or not? How China scrambled to counter the second Trump shock Read More »
By Yantoultra Ngui SINGAPORE (Reuters) -Singapore’s second- and third-biggest banks, among Southeast Asia’s largest by assets, forecast on Friday an improving loan growth environment in 2025, after posting strong sets of third-quarter net profits that beat market expectations. The forecasts followed the U.S. central bank’s interest rate cut by a quarter percentage point on Thursday, …
Singapore’s banks flag better loan growth in 2025 as rates drop Read More »
HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) on Friday cut by 25 basis points its base rate charged via the overnight discount window, to 5.0%, tracking a move by the U.S. Federal Reserve. Major Hong Kong banks followed with HSBC cutting its Hong Kong dollar best lending rate by 25 basis points and …
Hong Kong central bank cuts interest rate after Fed move, banks follow Read More »
(Reuters) – Japanese investors aggressively divested their foreign asset holdings in the week to Nov. 2 on caution ahead of the U.S. presidential election, while the recent downtrend in the yen also prompted them to lock in profits. According to Ministry of Finance data, Japanese investors withdrew a robust 4.46 trillion yen ($29.22 billion) and …
Japanese investors were big sellers of foreign assets before US election Read More »
BEIJING (Reuters) -Semiconductor Manufacturing International Corp, China’s largest chipmaker, warned on Friday that overcapacity in mature node chips will persist through 2025 and that it was turning cautious on building new capacity. The global semiconductor industry has struggled to recover since late 2022, when pandemic-driven shortages turned into oversupply, with many end users, including automakers, …
SMIC sees prolonged chip glut, signals cautious expansion outlook Read More »
TOKYO (Reuters) – Japanese authorities would take appropriate steps against excess moves in the foreign exchange market, Finance Minister Katsunobu Kato said on Friday, amid expectations that a Donald Trump U.S. presidency could boost the dollar and drive the yen down lower. “We are recently seeing one-sided and drastic moves on the currency market,” Kato …
Japan to respond appropriately to excess FX moves, finance minister says Read More »
By Yantoultra Ngui SINGAPORE (Reuters) – Singapore’s United Overseas Bank, or UOB, posted a faster-than-expected rise in third quarter net profit to a record, helped by brisk trading and investment, and flagged a pick-up in loans growth next year. Southeast Asia’s third-largest bank by assets said on Friday July-September net profit jumped 16% to a …
Singapore’s UOB sees better loan growth in 2025 as Q3 profit hits record Read More »
