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Latest: Asia Stock Market News

China Bid to Stop Yuan Slide: Dollar Deposit Rates Slashed
China Bid to Stop Yuan Slide: Dollar Deposit Rates Slashed

Major state banks have chopped dollar deposit rates for the second time in a month to prevent a prolonged slide in the yuan, which could discourage foreign investment and spur an outflow of funds

China Move to Block Chipmaking Metals Spurs Supply Fears
China Move to Block Chipmaking Metals Spurs Supply Fears

Beijing has ramped up trade rivalry with the US by announcing controls on gallium and germanium - two minor metals widely used in chips, EVs and high-tech products - and it could get worse

Private India Refiners ‘Now Paying for Russian Oil in Yuan’
Private India Refiners ‘Now Paying for Russian Oil in Yuan’

Sources claim two of India's three private refiners have settled some recent Russian oil import deals in Chinese yuan

BYD Sets New Sales Record as China EV Market Recovers – SCMP
EU to Beef Up Japan Ties on Chips, AI to ‘De-Risk’ From China
Nikkei Soars to 33-Year Peak, Hang Seng Fired by Stimulus Bets
Treasury Secretary Yellen’s China Trip Aims to Steady Ties
Russia Buying Chinese Drones for War in Ukraine – Nikkei
China’s New Anti-Espionage Law Puts Firms at Risk, US Warns
Australian Corruption Probe Finds China Links to State MP

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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