Asia Economy
Asia markets mainly set to prolong gains as Nasdaq hits document significant
In this image illustration the Nvidia emblem is displayed on a smartphone display screen and in the track record. Rafael Henrique | SOPA Images | Lightrocket | Getty Pictures Asia-Pacific marketplaces are set to increase gains from Monday as tech shares pushed the Nasdaq Composite to file highs. Nvidia shares gained far more than 2% […]
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Musk launches SpaceX’s Starlink internet services in Indonesia, says more investments could come
Tech billionaire Elon Musk (2nd L) speaks next to Indonesia’s Health Minister Budi Gunadi Sadikin (L) during a ceremony held to inaugurate satellite unit Starlink at a community health center in Denpasar on Indonesia’s resort island of Bali on May 19, 2024. Musk launched on May 19 his Starlink service on Indonesia’s resort island of […]
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Didi co-founder Liu steps down after decade at the helm of Chinese ride-hailing company
Didi Global, the Chinese ride-hailing company, must face a lawsuit in a U.S. court claiming it defrauded investors by concealing and disobeying a Chinese government order to postpone its 2021 initial public offering until it resolved cybersecurity and privacy concerns. Bloomberg | Bloomberg | Getty Images Didi Global‘s co-founder Jean Liu has stepped down from […]
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Asia markets poised to climb ahead of China rate decision; key Japan data on deck this week
A man walks past the People’s Bank of China (PBOC) building on July 20, 2023 in Beijing, China. (Photo by Jiang Qiming/China News Service/VCG via Getty Images China News Service | China News Service | Getty Images Asia-Pacific markets mostly rose Monday to kick-start a week packed with economic data from across the region. China, […]
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China pledges $42 billion in a slew of measures to support the struggling property sector
China announced “historic” steps to stabilize the crisis-hit property sector on May 17, 2024, allowing local governments to buy “some” apartments, relaxing mortgage rules and pledging to deliver unfinished homes. Nurphoto | Nurphoto | Getty Images BEIJING — Chinese authorities on Friday pledged new support for state-owned enterprises to enable them to buy unsold apartments, […]
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China is a ‘critical’ global supplier, full decoupling may be impossible, survey shows
Foreign trade containers are being stacked at the container yard of Qingdao Port in Qingdao, China, on May 14, 2024. Nurphoto | Nurphoto | Getty Images China remains a “critical supplier” to the world and efforts for a full decoupling remain “difficult, if not impossible,” a trade report by Allianz Trade said. Despite talk of […]
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HSBC falls 3% amid reports that top shareholder Ping An is looking to trim its stake
Key Points Citing people familiar with the matter, Bloomberg said that “one option an internal team at the Chinese insurance giant is considering is further share sales, similar to the $50 million sale it disclosed last week.” Ping An has butted heads with HSBC’s management in recent years, most notably supporting a shareholder motion in […]
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Vietnam reportedly forfeits billions of dollars in foreign aid amid anti-graft freeze
Vietnam forfeited at least $2.5 billion in foreign aid over the last three years and may lose another $1 billion because of administrative paralysis, the United Nations, the World Bank and Western donors told the government in a letter seen by Reuters. Merten Snijders | The Image Bank | Getty Images Vietnam forfeited at least $2.5 […]
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China retail sales, investment data miss expectations in April
Pictured here is a BYD factory producing new energy-powered trucks in Huai’an, China, on February 21, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — China reported data Friday that pointed to slower growth on the consumer side while industrial activity remained robust. Retail sales rose by 2.3% in April from a year ago, the […]
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Asia-Pacific markets are mostly set to open lower as investors await key economic data from China
Drone point view of the Shanghai skyline at sunrise. Aerialperspective Images | Moment | Getty Images Asia-Pacific markets were set to take a breather after rallying in the previous session, as investors await key China data to assess the state of the world’s second largest economy. China data, including new house prices, urban unemployment and […]
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