Asia Economy
Chinese stocks are looking cheap. Fund manager explains why he’s betting on Alibaba
Investors may still be nervous about Chinese stocks despite massive declines that have made them compelling, but portfolio manager Sid Choraria assures tech titan Alibaba is no “value trap.” To classify Alibaba as one, investors would have to believe that the e-commerce giant’s growth will be in the single digits, said Choraria of SC Asia. […]
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Indonesians are increasingly wary of Australia, but its new leader wants to change that
Australian Prime Minister Anthony Albanese returns from laying a wreath at Indonesia’s National Heroes Cemetery on June 6, 2022 in Jakarta, Indonesia. Albanese made his first trip to Indonesia promising to strengthen ties during two days of diplomatic and business meetings. Ed Wray | Getty Images Long before Australia’s new Prime Minister Anthony Albanese made […]
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China’s economic numbers come in better than expected, but ‘difficulties and challenges’ remain
New energy vehicles, which include hybrid and battery-powered cars, have seen sales surge in China despite a slump in the overall car market. Pictured here is an unnamed new energy vehicle factory in Jiangsu province on June 13, 2022. Wan Shanchao | Visual China Group | Getty Images BEIJING — China released economic data for […]
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Luxury brands say China’s latest Covid wave has whacked consumer demand
China’s retail sales plunged 11.1% in April from a year ago as Covid controls kept many people at home and malls closed. Pictured here is a luxury store in Shanghai on June 4, 2022, just a few days after the city officially began to reopen. Hugo Hu | Getty Images News | Getty Images BEIJING […]
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Most factories in Shanghai resume work as Covid controls ease, ministry says
German automaker Volkswagen is one of state-owned automaker SAIC’s foreign partners in China. Pictured here on June 7, 2022, is the joint venture’s factory in Shanghai. Qilai Shen | Bloomberg | Getty Images BEIJING — Factories in two of China’s Covid-hit economic hubs have mostly resumed work as the impact of the virus subsides, according […]
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Latest Shanghai quarantines add more pressure to global supply chain
Staff members of China Post unload parcels of daily necessities for residents quarantined at home from a minivan on May 14, 2022 in Shanghai, China. Tian Yuhao | China News Service | Getty Images The mass quarantine measures imposed this past weekend in Shanghai, including highway closures, severely affected trucks carrying exports bound for the […]
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More South Korea businesses hit as trucker strike enters 7th day
Truck drivers and members of the Korean Confederation of Trade Unions shout slogans during a demonstration on Friday, June 10, 2022. South Korean petrochemical firms on Monday joined the automobile and steel makers in cutting operations due to mounting inventories as transport disruptions from a strike by truckers spread quickly across Asia’s manufacturing powerhouse. SeongJoon […]
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Global food prices are soaring. Rice could be next
The spider web rice fields in Flores, Indonesia. The United Nations’ Food and Agriculture Organization Food Price Index shows international rice prices creeping up for the fifth straight month to reach a 12-month high, according to the latest May data published last week. Tanutkij Wangsittidej Food prices have been on the rise in the past […]
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The world will face ‘a severe food crisis and famine,’ Zelenskyy says
Ukraine’s President Volodymyr Zelenskyy addresses participants at Singapore’s Shangri-La Dialogue summit virtually via a video link on June 11, 2022. Roslan Rahman | Afp | Getty Images SINGAPORE — Ukraine President Volodymyr Zelenskyy warned that the world will face a “severe food crisis,” with Russia’s war on his country dragging on, as he virtually addressed the […]
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Taiwan to cut Covid-related quarantine for arrivals to 3 days
People, wearing face masks to curb the spread of coronavirus, wait at a food stall in Taipei, Taiwan on April 19, 2022. Annabelle Chih | Reuters Taiwan said on Saturday it would cut mandatory quarantine for all arrivals to three days from seven, its latest relaxation of the rules to try to live with Covid-19 […]
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