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Japan Nikkei stumbles

Asian stocks trampled as Nikkei crashes 13%

The scale of losses on Japan’s Nikkei had not been seen since the global financial crisis

US Treasuries - stocks

US stocks stumble on Wall Street over recession worries

A manufacturing report spooked investors, sparking broad risk-off moves across markets

BYD CARS

BYD unveils new hybrid tech as battle with rivals heats up

BYD, which has been accelerating its international expansion, still trails multi-branded automakers such as Toyota, Volkswagen, General Motors and Stellantis, in sales

Singapore Airlines Flight SQ321 at Bangkok Airport

Singapore Airlines horror as one dead, over 70 injured due to turbulence

Singapore Airlines did not immediately say what type of turbulence was involved

Pakistan

IMF approves $1.1bn funding tranche to help Pakistan’s economy

The $350bn economy faces a chronic balance of payments crisis, with nearly $24bn to repay in debt and interest over the next fiscal year

coal

G7 reaches deal to exit from coal by 2035

The agreement on coal marks a significant step in the direction indicated last year by the COP28 United Nations climate summit to phase out fossil fuels

samsung

Samsung reports 900% rise in Q1 2024 profit as chip prices recover

The better performance came as its chip division, is expected to report its first quarterly profit in five quarters, as memory chip prices bounce back from a deep trough

HUALIEN, TAIWAN - APRIL 04: An area of a damaged building is cordoned off following the earthquake on April 04, 2024 in Hualien, Taiwan. A 7.5 magnitude earthquake hit eastern Taiwan on Wednesday, triggering a tsunami warning for the coastline in Taiwan, the Philippines and Japan. (Photo by Annabelle Chih/Getty Images)

Nvidia says it expects no impact to chip supply from Taiwan earthquake

Taiwan weather officials ranked Wednesday’s quake in Hualien as “Upper 6”, or the second-highest level of intensity on a scale ranging from 1 to 7

earthquake

Over-7 magnitude earthquake hits Taiwan, Japan with tsunami warnings issued

The 7.5 magnitude earthquake impacted Japan, Philippines, Taiwan, and China with tsunami warnings issued

Xiaomi SU7-scaled

Xiaomi’s EV buyers face up to seven-month wait for the SU7

Xiaomi built a Beijing factory capable of producing 200,000 cars annually before it had regulatory approval to start manufacturing in China

onion ban - India

India extends ban on onion exports indefinitely ahead of general election

Traders estimate that India accounts for more than half of all onion imports by Asian countries

Tokyo

Bank of Japan has ended 8 years of negative interest rates

The Bank of Japan ended eight years of negative interest rates and other remnants of its unorthodox policy at the conclusion of its two-day policy meeting

Gold

Gold rally hits pause ahead of US inflation data

Gold set a record peak of $2,194.99 for the fourth straight day on Friday after data signalled a cooling US labour market

Malaysia eyes sealing free trade deal with UAE by June

Amid the agreement, Malaysia hopes that the UAE will invest in its energy, digital economy, electric vehicle and chip sectors

Sheikh Mohamed in Gujarat

UAE President Sheikh Mohamed lands in India for Vibrant Gujarat Global Summit

The Vibrant Gujarat Global Summit will see the participation of 34 countries and 16 international organisations in its 10th edition

Mukesh Ambani and Gautam Adani

Billionaire index: Gautam Adani surpasses Mukesh Ambani as India’s richest man

Adani currently ranks 12 among the world’s richest

Neodymium, on periodic table. Rare earth metal in lanthanide series, with atomic number 60 and element symbol Nd, from Greek neos didymos, meaning new twin. Used for lasers and high strength magnets.

China bans export of rare earths processing tech over national security

China has significantly tightened rules guiding exports of several metals this year, in an escalating battle with the West over control of critical minerals

Toshiba

From scandal to delisting: Toshiba’s long-running crisis

Toshiba will be delisted on Wednesday after 74 years on the Tokyo exchange, following a decade of upheaval and scandal

India China

India’s economy follows China to reach rapid take off: Kemp

India is entering the central take-off portion of the S-curve when urbanisation, industrialisation, household incomes and energy consumption increase most rapidly

CYCLONE MICHAUNG

Cyclone Michaung: Dozens of flights affected at Chennai, Hyderabad and Pune airports

Heavy rainfall due to Cyclone Michaung has impacted international and domestic inbound and outbound flights across multiple airports in India

iPhone 15 Pro

China bans iPhone use by government employees, Apple stocks in freefall

China is Apple’s third-largest market and accounted for 18 per cent of its total revenue in 2022

China bans seafood from Japan

China bans seafood from Japan, restaurants brace for cost jump

Beijing curbs food imports from multiple prefectures in Japan as Tokyo begins to release wastewater from Fukushima into the Pacific

Fukushima Daiichi nuclear plant

The science behind Japan’s plan to empty Fukushima’s nuclear wastewater into Pacific

Japan’s Prime Minister Fumio Kishida confirmed the process will start on August 24 after a meeting of a cabinet panel

Mukesh Ambani Jio Financial Services

Mukesh Ambani’s Jio Financial makes disappointing debut on BSE, NSE

Jio Financial plans to digitally deliver a range of products in the non-banking financial consumer market in India

China Evergrande Group files bankruptcy

China Evergrande files Chapter 15 bankruptcy in New York

The Chinese builder has been working for months to finalise an offshore debt restructuring plan

India marks its 77th independence day

India at 77: A rising economic force

With 6-6.5 per cent GDP growth expected in 2023-24, India is set to enter the league of three largest economies before 2030

rice price

Soaring rice prices stretch budgets for billions in Asia, Africa

Rice contributes as much as 60 per cent of total calorie intake for people in parts of Southeast Asia and Africa

China'es economy enters a delation period

China slides into deflation as consumer, producer prices decline

A prolonged property market slump, plunging demand for exports and subdued consumer spending are weighing on the economy’s recovery

Gautam adani

Bain to buy majority stake in Adani Capital, Adani Housing

The sale of Adani Capital will help Gautam Adani cut liabilities on his conglomerate’s balance sheet as it focuses on its infrastructure development businesses

US Treasuries - stocks

Here are the Asia bank earnings to watch after Wall Street results fuel optimism

Wall Street behemoths such as Bank of America, Morgan Stanley, JPMorgan Chase, and Citigroup beat analysts’ expectations in the second quarter, sparking anticipation about a similar upswing in Asia