Latest: Asia Stock Market News
Russian leader condemned the West's idea for a price cap on Russian gas, saying it would lead to price rises and that global demand for Russian energy was high.
China's top banks face narrowing margins as they’ve also been asked by Beijing to boost their lending to the country's struggling economy
The gloomy global outlook and Europe’s Russian gas crisis weighed on sentiment but there were hopes of more economic support from Beijing
India's current account deficits are expected to rise from 1.2% last year to 3.5% of GDP this year, according to Nomura, which said external sector risks remain elevated.
The move by Beijing is seen as a bid gain more leverage over some of the world's biggest mining conglomerates
Many funds in Hong Kong have cut exposure to China stocks and taken positions in US companies or Southeast Asia, portfolio managers say
Stocks across the region slipped lower after Russia shut a major gas pipeline to Europe sparking fears of recession
"The pick-up in growth stemmed from a rebound in new business gains as firms continued to benefit from the lifting of Covid-19 restrictions," an S&P Global analyst said
Move to cut the amount of foreign exchange reserves that financial institutions must hold is seen as aimed at slowing the depreciation of the yuan
Banks have started to dial back their exposure to the ailing sector with total real estate loans rising just 3.3% this year while overall lending rose 7.9%
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AF Market Insights
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China-US Economic TiesChina Stocks Delisting From US: Everything You Need to Know -
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Markets: The Big Picture
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
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Oil & GasIndia Is Likely Exporting Refined Russian Oil to the WestIndia’s fast-rising Russian oil imports are being matched by its rising oil exports suggesting it may be reselling Russia’s oil to the West.
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MarketsApple Asks Suppliers in Taiwan to Meet China Label StandardsUS tech giant Apple told its Taiwan suppliers that products moving to China must be labelled to state that the island is a part of China and not an independent nation
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MarketsIndian-Owned Tech Firms See Sharp Growth in UKDespite a moribund British economy and heavy corporate tax, Indian-owned tech firms are growing in the UK.
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MarketsChina Becomes World’s Second-Biggest Bitcoin Mining HubThe Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.
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