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Latest: Asia Stock Market News

China Power Consumption Soars With Tech, EV Growth – C/Daily
China Power Consumption Soars With Tech, EV Growth – C/Daily

Power consumption in China surged in the first half of 2024, but the country also expects another jump in installed renewable power this year

Nikkei’s 8-Day Losing Run, Hang Seng Gains On US Growth Bets
Nikkei’s 8-Day Losing Run, Hang Seng Gains On US Growth Bets

Faster-than-expected second-quarter growth in the US lifted the mood on most trading floors though there was also a post-typhoon Taiwan drag

Chinese Firms Trying to Cut Indonesian Nickel Smelter Stakes
Chinese Firms Trying to Cut Indonesian Nickel Smelter Stakes

Indonesia has been negotiating a critical mineral deal with the US so its nickel can be recognised for EV tax cuts; that means Chinese firms need to reduce their holdings

Typhoon Pounds China’s Fujian After Lashing Taiwan, Manila
China to Use Bonds to Pay For Consumer Trade-in Scheme
Thai Task Force to Help Stop Arms Funding For Myanmar Military
World’s Wealthiest 1% Added $42tn to Fortunes Since 2014 – F24
Indonesia Offers ‘Golden Visa’ to Draw Foreign Investors, Lift Economy
Nikkei Dives as Yen Surges, Tech Earnings Weigh on Hang Seng
China’s Central Bank in Surprise MLF Loan at Low Rate

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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