Reuters Asia Business

By Neha Arora NEW DELHI (Reuters) – Signs of thawing ties a day after the leaders of India and China met are unlikely to deter New Delhi’s plans to back tariffs on steel as they are not country-specific measures, a senior government official with direct knowledge of the matter said. Mills in the world’s second-biggest …

Thaw in China ties unlikely to deter India’s plans for steel tariffs, source says Read More »

SEOUL (Reuters) -Hyundai Motor Co warned on Thursday of slowing demand and intensifying competition, but stuck to its 2024 earnings target after reporting a 7% fall in third-quarter operating profit, sending its shares down more than 5%. “The business environment for the car industry is worsening,” Hyundai Motor’s CFO, Lee Seung-jo said during a conference …

Hyundai Motor Q3 profit misses forecast as demand slows; shares slide Read More »

By Jihoon Lee SEOUL (Reuters) – South Korea’s economy barely grew in the third quarter as consumer spending showed signs of recovery but exports declined, raising the chances for more stimulus to support growth. That prompted the central bank to warn of a potential downgrade to its 2024 growth forecast, while the finance minister called …

South Korea’s economy barely grows in Q3 as exports slip Read More »

TOKYO (Reuters) – Japan’s factory activity contracted for the fourth straight month in October on subdued demand and weak orders, a private-sector survey showed on Thursday. The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) declined to 49.0 in October from 49.7 in September. The index stayed below the 50.0 threshold separating growth …

Japan’s factory activity dips for 4th straight month, PMI shows Read More »

BANGKOK (Reuters) -Car production in Thailand fell 25.48% in September from a year earlier, the Federation of Thai Industries said on Thursday. The figure compared with August’s 20.56% year-on-year decline. Domestic car sales dropped 37.11% to 117,000 units in September, Surapong Paisitpattanapong, a spokesman for the federation’s automotive division, told a news conference. Exports were …

Thailand car production drops dropped 25.48% y/y in Sept, federation says Read More »

By Heekyong Yang, Hyunjoo Jin and Joyce Lee SEOUL (Reuters) -South Korea’s SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier booked strong sales of its advanced chips, and said demand for high-bandwidth memory (HBM) chips would continue to outpace supply next year. The company played down market concerns about an …

Nvidia supplier SK Hynix sees no AI chip oversupply as profit soars to record Read More »

TAIPEI (Reuters) -Taiwan Semiconductor Manufacturing Co has suspended shipments to a customer after it discovered that one of its chips supplied to the client ended up in a Huawei product, according to a Taiwan official familiar with the situation. About two weeks ago, TSMC suspended shipments to the client and began a detailed investigation, the …

TSMC halts chip supply to customer after finding it in Huawei product, source says Read More »