Asia Economy

BUSINESS

China frees up $70 billion for banks to underpin slowing economy

A man walks past the People’s Bank of China (PBOC) building on July 20, 2022 in Beijing, China. Jiang Qiming | China News Service | Getty Images China said on Friday it would cut the amount of cash that banks must hold as reserves for the second time this year, releasing about 500 billion yuan […]

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BUSINESS

Asia-Pacific stocks mostly lower, Tokyo inflation at highest in 40 years; U.S. markets closed

Hong Kong movers: Casinos, technology stocks drop on rising China case numbers Hong Kong-listed stocks related to reopening and technology fell in Asia’s morning session following reports of a surge of Covid cases in China. Shares of casino operator MGM China fell more than 4%, Wynn Macau lost 2.5%, Sands China fell 3%, and SJM […]

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BUSINESS

Hong Kong stocks lead losses as China Covid cases rise; Asia markets mixed

JD.com shares drop after company cuts senior management pay Hong Kong-listed shares of JD.com traded more than 5% lower in the afternoon after the company confirmed pay cuts of its senior management team. The Chinese e-commerce giant confirmed that it will slash the cash salaries of its senior management team by up to 20%, effective […]

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BUSINESS

Japan sees core inflation at highest in 40 years as Asia-Pacific stocks rise

Philippines central bank expects economy to see “low growth” next year, not a recession Central bank governor Felipe Medalla of Bangko Sentral ng Pilipinas (BSP) said the economy is expected to see “low growth” of under 5%, not a recession, next year. Speaking to CNBC’s Sri Jegarajah in an interview, he said the central bank […]

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BUSINESS

Hong Kong stocks jump after China trims quarantine period, up more than 7%

Oil prices rise more than 2% on back of China easing quarantine measures Reopening stocks jump after China’s eased Covid measures reported China trims Covid quarantine time by two days Chinese state media announced on Friday that the country will reduce quarantine time for international travelers by two days. The revised rules state travelers will […]

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Latest-News

Analysts on how outcome might affect tech sector

U.S. President Joe Biden in a virtual meeting with Chinese President Xi Jinping at the White House in November 2021. Just last month, the U.S. announced export controls restricting China’s access to specific types of advanced semiconductor chips, a move that crimps Chinese companies’ access to key tech. Alex Wong | Getty Images News | […]

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BUSINESS

One of China’s inflation gauges drops for the first time since 2020

China’s producer price index fell year-on-year in October 2022 for the first time since December 2020. Pictured here is a furnace at a steel plant in August 2022 in Jiangxi province. Zhang Yu | Visual China Group | Getty Images BEIJING — China’s producer price index fell in October for the first time since December […]

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BUSINESS

Asia-Pacific stocks mostly rise ahead of U.S. midterm elections

Bank of Japan headquarters in Tokyo, Japan Tomohiro Ohsumi | Bloomberg | Getty Images Stocks in the Asia-Pacific traded mostly higher early Tuesday morning as investors digest the Bank of Japan’s summary of opinions and look ahead to the U.S. midterm elections. The Nikkei 225 in Japan rose 1.25% and the Topix was also 1.21% […]

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BUSINESS

Goldman Sachs says China is still ‘months away’ from reopening

An advertisement of the People’s Liberation Army overlooks a street scene in Beijing on the day Chinese President Xi Jinping and his U.S. counterpart Joe Biden hold a virtual summit, in Beijing, China, November 16, 2021. Thomas Peter | Reuters Stocks in Hong Kong and China rallied at the end of a volatile week last […]

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ENTERTAINMENT

K-pop ETF creator says Korean content is at an ‘inflection point’

K-pop girl group BlackPink performed at The Late Late Show with James Corden airing Thursday, April 18, 2019. (Photo by Terence Patrick/CBS via Getty Images) Cbs Photo Archive | Cbs | Getty Images The creator behind the new exchange-traded fund aimed at converting global fans of Korean content into an investment opportunity is optimistic in […]

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