Latest: Asia Stock Market News
Stocks across the region were still retreating on Friday after the US Fed’s pessimistic rate hikes forecast rattled investors and unsettled currencies
Currency traders said the currency swap deal with the National Pension Service would remove a big source of dollar demand and could help bolster the weakening currency
The intervention came after the Bank of Japan stuck with its ultra-low rate policy, which prompted a drop in the yen past 145 per dollar to a 24-year low.
The ETFs will test investor appetite for chipmakers, producers of new materials and machine tool manufacturers at a time when rivalry between the US and China in the chip sector is intensifying
The China Aviation Lithium Battery Co plans to use the proceeds to build new battery production lines
A feeble yen is less of a benefit for Japan’s manufacturers than it used to be as companies have moved production and supply chains overseas
About 10 officials from the China Securities Regulatory Commission and the Ministry of Finance have arrived in Hong Kong to aid and monitor the audit inspection, sources say
Hong Kong stocks tumbled to a near 11-year low and Japan shares slipped after the US Fed hiked rates again and warned there was more pain to come
Japanese government sells dollars to stem sharp recent falls in the yen - their first intervention in the foreign exchange market since 1998
Bearish bets on most Asian currencies rose to record highs, driven by a towering dollar and mounting pressure on the Chinese yuan, which has slipped to a 27-month low
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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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