Yen clings to sharp gains after suspected intervention, Fed in focus
By Brigid Riley TOKYO (Reuters) - The yen held its line against the dollar on Tuesday after making sharp gains the previous day in moves that traders said were sparked by suspected intervention by Japanese authorities. The Japanese currency was tra...
1h ago
China's factory activity expands at fastest clip in 14 months, Caixin PMI shows
BEIJING (Reuters) - China's manufacturing activity expanded at the fastest pace in 14 months in April, driven by a solid uptick in new export orders, a private survey showed on Tuesday, an encouraging sign for an economy still struggling to mount a...
1h ago
Stocks in Asia rise, yen wobbles after volatile start to week
By Ankur Banerjee SINGAPORE (Reuters) - Asian stocks inched higher on Tuesday as investors awaited a slew of economic data, corporate earnings and the U.S. Federal Reserve's policy meeting, while the yen was slightly weaker a day after suspected in...
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China developer Fantasia proposes new restructuring terms, shares up
By Clare Jim HONG KONG (Reuters) - Embattled Chinese property developer Fantasia said on Monday it has entered into a new agreement with its ad hoc group of bondholders to restructure its $4 billion dollar bonds with new notes and equities. The lat...
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China Vanke's first public commercial REIT falls in early trade on debut
SHANGHAI (Reuters) - China Vanke's first public commercial real estate investment products fell as much as 3% in early trade on their debut on Tuesday, reflecting caution towards China's second-largest developer amid a prolonged property market dow...
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China's factory activity grows at slower pace in April
BEIJING (Reuters) - China's manufacturing activity expanded at a slower pace in April, an official factory survey showed on Tuesday, suggesting some loss of momentum for the sprawling sector at the start of the second quarter. The National Bureau o...
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Asia Pacific economies headed for 'soft landing', says IMF
SINGAPORE (Reuters) - Rapid disinflation and resilient growth will help Asia Pacific achieve a "soft landing" even though economic expansion is expected to slow over the next two years, the International Monetary Fund (IMF) said on Tuesday. While t...
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KFC Malaysia temporarily shutters outlets citing challenging economy
KUALA LUMPUR (Reuters) - KFC Malaysia has temporarily closed outlets in the country, citing challenging economic conditions, after local media reported that the closings were because of boycotts over the fast food chain's perceived links to Israel....
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China non-manufacturing activity expands at slower pace in April
BEIJING (Reuters) - China's non-manufacturing activity expanded at a slower pace in April, an official survey showed on Tuesday, likely due to disruption caused to construction and services businesses by adverse weather in the southern region. The...
2h ago
Oil dips as investors eye Israel-Gaza truce talks, US Fed policy review
By Georgina McCartney (Reuters) - Oil edged down in early trade on Tuesday after Israel-Hamas ceasefire talks in Cairo helped quell market fears of an expanded conflict in the Middle East, while worries about the outlook for U.S. interest rates wei...
3h ago
Computer parts maker Logitech's fourth-quarter sales rise
ZURICH (Reuters) - Logitech International increased its sales during its fourth quarter, the computer peripherals maker said on Tuesday, snapping two-and-a-half years of sales downturns after a pandemic-driven boom. The maker of computer mice and k...
3h ago
Japan forex authorities ready 24 hours, top currency diplomat Kanda says
TOKYO (Reuters) -Japan's top currency diplomat Masato Kanda said on Tuesday that authorities were ready to deal with foreign exchange matters "24 hours", while declining again to comment on whether the finance ministry had intervened to prop up the yen...
3h ago
US to require new cars to have emergency braking systems by 2029
By David Shepardson WASHINGTON (Reuters) - Nearly all new passenger cars and trucks sold in the United States will be required to have automatic emergency braking systems by September 2029, the National Highway Traffic Safety Administration (NHTSA)...
3h ago
Japan March jobless rate stays flat at 2.6%
TOKYO (Reuters) - Japan's jobless rate in March was unchanged at 2.6% compared to February, government data showed on Tuesday. The seasonally adjusted unemployment rate compared with economists' median forecast of 2.5%. The jobs-to-applicants ratio...
3h ago
Samsung says AI to drive technology demand in second half
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics said on Tuesday it expected demand for artificial intelligence to hold strong in the second half, driving sales of memory chips and tech devices, as it reported a more than 10-fold ris...
3h ago
Japan March factory output rises 3.8% vs month earlier
TOKYO (Reuters) - Japan's factory output rose 3.8% in March from the previous month, versus the median market forecast for a 3.5% rise, government data showed on Tuesday. Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect ...
3h ago
Supermaket chain Coles posts 3.4% rise in revenue
(Reuters) -Australia's Coles Group on Tuesday reported a rise in third-quarter revenue, as signs of cooling inflation helped drive sales of key grocery items at its stores. The company said group sales rose 3.4% to A$10.03 billion ($6.58 billion) for t...
5h ago
Strained Chinese cities struggle to pay home buying subsidies
By Liangping Gao and Marius Zaharia BEIJING/HONG KONG (Reuters) - Amy Wang was counting on a 100,000 yuan ($13,800) subsidy promised by authorities in the eastern Chinese city of Weifang to fit and furnish an apartment she bought two years ago. Sti...
5h ago
Multi-strategy hedge fund launches tumble in first quarter, says Preqin
By Nell Mackenzie LONDON (Reuters) - New multi-strategy hedge fund launches accounted for less than one in 10 of new funds in the first quarter, down from about one in four in the last quarter of 2023, according to data provider Preqin, a sign that...
5h ago
South Korea March factory output falls most in 15 months
SEOUL (Reuters) - South Korea's factory output fell in March by the most in 15 months, government data showed on Tuesday, missing market expectations. The industrial production index fell 3.2% from a month earlier on a seasonally adjusted basis, af...
5h ago
NBC plans about $2.5 billion offer to get NBA rights from TNT, WSJ reports
(Reuters) - Comcast's NBCUniversal is planning to invest an average of about $2.5 billion a year to broadcast a package of National Basketball Association games, the Wall Street Journal reported on Monday. (Reporting by Jaspreet Singh in Bengaluru...
6h ago
NXP Semiconductors forecasts Q2 profit above estimates on industrial demand recovery
(Reuters) - NXP Semiconductors NV forecast second-quarter profit above estimates on Monday, as easing inventory corrections at its industrial and mobile customers helped offset decelerating revenue from automotive customers due to slowing EV demand...
6h ago
Caterpillar to delist shares from two European exchanges
(Reuters) - Caterpillar Inc. said on Monday it would delist its shares from two European exchanges, following a review of the listings. The company's shares will be delisted from Euronext Paris on May 28 and the SIX Swiss Exchange before the end of...
6h ago
Morning Bid: Dollar recoils at 160 yen, Tesla's China joy
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Asian FX traders will be on heightened Japanese intervention alert again on Tuesday after Tokyo reportedly stepped into the market on Monday, catapulting the yen up from a 34-y...
6h ago
Paramount CEO Bob Bakish resigns amid merger talks
By Lisa Richwine (Reuters) -Paramount Global CEO Bob Bakish is stepping down and will be replaced by three executives, the company said on Monday as it reported quarterly earnings that beat Wall Street expectations. CBS President and CEO George Cheeks,...
7h ago