Reuters Asia Business

BEIJING (Reuters) – Chinese banks extended 260 billion yuan ($36.26 billion) in new yuan loans in July, down from the previous month and undershooting analysts’ forecasts, highlighting weak demand as a prolonged property downturn and job insecurity drag on business and consumer confidence. Analysts polled by Reuters had expected new yuan loans would come in …

China July new bank loans dip to 260 billion yuan, miss forecasts Read More »

By Selena Li and Alessandro Diviggiano HONG KONG (Reuters) – Soaring demand from Chinese investors for offshore investments has left foreign banks and fund managers scrambling to ration outbound-investing quotas despite the recent selloff in the U.S. and Japanese markets. To cope with the surging appetite, firms using China’s Qualified Domestic Institutional Investor (QDII) programme …

China’s outbound investing quota crunch spurs foreign asset managers to get creative Read More »

TOKYO (Reuters) -Japan’s parliament will ask central bank Governor Kazuo Ueda to participate in special sessions next week to discuss the decision last month to raise interest rates, officials said on Tuesday. Ueda will be requested to participate in separate sessions on Aug. 23 held by the finance committees of the upper and lower houses. …

Japan parliament asks central bank governor Ueda to discuss rate hike Read More »

(Reuters) -Tencent Music Entertainment topped estimates for quarterly revenue on Tuesday as its paid subscriber base grew across its music streaming platforms, sending its U.S. listed shares up 2.4% in premarket trading. The company’s targeted promotions have helped it cultivate a strong base of long-term paying customers. Tencent Music has ventured into multi-channel promotions through …

Tencent Music Entertainment beats quarterly revenue estimates Read More »

By Summer Zhen HONG KONG (Reuters) – Global investors are turning bearish on once-favoured Japanese stocks following last week’s turbulence as they reassess economic prospects and the viability of yen-funded trades. Using cheap yen to buy stocks on the Nikkei was a hot trade until this month. The Nikkei index had doubled since the start …

Overseas investors turn bearish on Japanese equities after brutal sell-off Read More »

SHANGHAI (Reuters) – China’s long-dated sovereign bonds have surged as investors seek safety from a slowing economy and volatile stock markets. The rally has pushed yields to record lows, however, and authorities have grown uncomfortable and are starting to push back. Below are some of the measures the authorities have taken so far with the …

Factbox-How China is trying to cool a runaway bond rally Read More »

COLOMBO (Reuters) -Sri Lanka’s telecommunications regulator has issued a licence to Elon Musk’s Starlink, the satellite unit of SpaceX, to provide the country with satellite broadband services, the president’s office said. Sri Lanka’s parliament passed a new telecommunications bill last month, which amended the law for the first time in 28 years and paved the …

Musk’s Starlink wins Sri Lanka licence Read More »

By Alessandro Parodi (Reuters) – Global sales of fully electric and plug-in hybrid vehicles rose by a yearly 21% in July, thanks to China’s strongest growth this year and despite dropping demand in Europe, market research firm Rho Motion said Monday. In the European Union MG Motor, owned by China’s SAIC Motor Corp, expects to …

Global EV sales up 21% in July as China records biggest jump of 2024, Rho Motion says Read More »

BANGKOK (Reuters) – Thailand will increase the size of a government mutual fund by an amount of 100 billion baht to 150 billion baht ($2.8 billion to $4.3 billion), Finance Minister Pichai Chunhavajira said on Tuesday. The Vayupak Mutual Fund will offer new fund units to the public in the third quarter of this year, …

Thailand to increase state equity fund by up to $4.3 billion, Finance Minister says Read More »