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Latest: Asia Stock Market News

Alibaba to Rejig Operations Into Six Units to Lift its Mojo – SCMP
Alibaba to Rejig Operations Into Six Units to Lift its Mojo – SCMP

Chinese tech giant will reorganize its businesses into six independently run entities to shorten its decision-making processes, CEO Daniel Zhang said this week

Adani Seeks More Time to Pay $4bn Debt, Shares Fall on Report
Adani Seeks More Time to Pay $4bn Debt, Shares Fall on Report

The group's flagship firm, Adani Enterprises, slid nearly 7% to a near four-week low, while Adani Ports tumbled more than 5%

Asian Stocks Advance on Easing Global Banks Crisis Fears
Asian Stocks Advance on Easing Global Banks Crisis Fears

A deal to buy failed Silicon Valley Bank calmed nervous investors but doubts linger about brittleness in the banking sector

Nio Trials Stations to Swap EV Batteries in Under 5 Minutes
US, Japan Set to Sign Trade Deal on EV Battery Minerals
China Asks Deloitte to ‘Learn Lesson’ From $31m Audit Fine – FT
Baidu Scraps Public Launch of ChatGPT-Rival Ernie Bot
Jack Ma Returns to China in Sign of Easing Tech Crackdown
Asia Shares Slip on Banking Fears But Weak Yen Boosts Nikkei
China’s Industrial Profits Plunge 23% on Weak Global Demand

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Markets: The Big Picture

ASML in the Centre of the Chip War

With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors