Latest: Asia Stock Market News
Investors were heartened by less pessimistic predictions on US interest rates and buoyed by Beijing’s intervention in China’s deepening property crisis
Beijing will undertake multiple measures to boost risk the strength of small and medium-sized banks, a newspaper report said, citing a CBIRC official
Hong Kong Stock Exchange tells China Evergrande to get a winding-up plea filed by a creditor dismissed for its shares to start trading
A report by the Wall Street Journal, citing sources familiar with the matter, said that Shanghai authorities had summoned executives from Alibaba's cloud division in relation to the data breach.
China's plummeting GDP and the US’s soaring inflation brought a pessimistic air to the region’s trading floors
The Invesco Golden Dragon China ETF, a gauge of China stocks listed in the US, has climbed 11% since May 27 while the Nasdaq 100 is down almost 7%.
TSMC, a key Apple supplier and the world's largest contract chipmaker, said profit soared by 76% in the April-June period, to T$237 billion ($7.9 billion)
Shares of struggling developers dropped further on Friday as homebuyers' refusal to repay loans on partly built apartments outweighed government assurances to get projects completed on time
Analysts said the yen's tumbling value against the dollar caused share price boosts for automakers and microchip producers
``If there comes a massive wave of home auctions, prices will crash,'' said Gavekal Dragonomics. "Both social stability and financial stability will be endangered in the worst case."
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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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