By Kevin Buckland TOKYO (Reuters) - Asian shares sank on Tuesday, as worries about the Chinese property sector weighed on markets from Hong Kong to ...
By Kevin Buckland TOKYO - Asian shares sank on Tuesday, as worries about the Chinese property sector weighed on markets from Hong Kong to Australia, while Japanese investors sold chip stocksBy Kevin Buckland
Japan's Nikkei tumbled 1.1% under the weight of big losses for chip-related stocks including Tokyo Electron and Advantest. In one positive development, Country Garden won approval from creditors to extend repayment on another onshore bond, the last in the batch of eight bonds it has been seeking extensions for, sources said. The stock climbed about 1%.
Currency markets were also subdued, with the U.S. dollar index - which measures the currency against six major peers - rising 0.06% to 105.14, edging back toward last week's six-month peak of 105.43.The euro eased 0.07% to $1.06825.
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Asia stocks slide amid China woes, Japan catches up on chip sell-offAsian shares sank on Tuesday, as worries about the Chinese property sector weighed on markets from Hong Kong to Australia, while Japanese investors sold chip stocks on their return from a holiday-extended weekend. Benchmark U.S. Treasury yields hovered near 16-year peaks and the dollar held close to six-month highs as traders braced for a Federal Reserve rate decision on Wednesday, in a week that also sees policy decisions from the Bank of Japan and Bank of England, among others. Japan's Nikkei tumbled 1.1% under the weight of big losses for chip-related stocks including Tokyo Electron and Advantest.
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Analysis-More SE Asia firms consider U.S. IPOs, filling void left by China peersSeveral Southeast Asian companies are considering listing in the United States, banking on strong investor appetite for emerging market growth in the absence of Chinese stock offerings. Senior executives in leading SME digital financing platform Funding Societies, Singapore-based entertainment firm Gushcloud International and Thai insurance technology firm Sunday told Reuters they were looking into New York as one of their initial public offering (IPO) venues. This comes on top of recently announced plans by Vietnamese internet company VNG Corp and Philippine real estate company DoubleDragon Corp's Hotel101 Global to list in the U.S., filling a void left by Chinese companies which hit the pause button on U.S. IPOs after political tensions with Washington intensified, Beijing tightened scrutiny of domestic firms seeking overseas listings and China's own economy slowed.
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Analysis-More SE Asia firms consider U.S. IPOs, filling void left by China peersBy Yantoultra Ngui and Scott Murdoch SINGAPORE/SYDNEY (Reuters) - Several Southeast Asian companies are considering listing in the United States, ...
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China's BYD rides on partnerships to expand EV sales in Southeast AsiaBy Devjyot Ghoshal and Stefanno Sulaiman BANGKOK/JAKARTA (Reuters) - China's electric vehicle giant BYD has been on a tear in Southeast Asia, shooting ...
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China's BYD rides on partnerships to expand EV sales in Southeast AsiaChina's electric vehicle giant BYD has been on a tear in Southeast Asia, shooting past rivals including Tesla to take more than a quarter of the share of EVs sold in the region. Along with attractive prices, BYD's early success is based on a pattern of distribution partnerships with large, local conglomerates that have allowed the carmaker to expand reach, test consumer preferences and navigate complex government regulations in the region, officials from three partners and analysts said. This partnership model, similar to that pursued by Japanese automakers in some Southeast Asian countries decades ago, is helping BYD to build market share rapidly and contrasts with Tesla's go-it-alone distribution - though it comes at a cost.
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