March 2022

By Kevin Buckland TOKYO (Reuters) – The dollar traded near a five-year high against the yen on Wednesday as investors awaited a Federal Reserve policy decision, with the Ukraine war and China’s surging COVID-19 cases as the backdrop. Treasury yields surged ahead of the Federal Open Market Committee decision, buoying the dollar against its Japanese…

BEIJING (Reuters) – Oil prices rose early on Wednesday, bouncing back after earlier falling more than $1 a barrel, as Russia’s invasion of Ukraine continues to dominate volatile trading with ceasefire talks the latest market trigger. Brent futures were up 83 cents, or 0.8%, at $100.74 a barrel at 0120 GMT. U.S. West Texas Intermediate…

SHANGHAI (Reuters) – Chinese electric vehicle (EV) maker BYD Co Ltd late on Tuesday said it would raise prices on its cars by 3,000-6,000 yuan ($471-942), citing the rising cost of raw materials. The price increases will take effect from Wednesday, it said, adding that customers who had paid deposits on vehicles prior to then…

By Pratima Desai LONDON (Reuters) – Nickel trading on the London Metal Exchange (LME) resumes on Wednesday with limits on price movements to prevent disorderly trading after wild swings triggered a rare market shutdown. China’s Tsingshan Holding Group bought large amounts of nickel to reverse bets on lower prices, propelling the metal up more than…

By Daniel Leussink TOKYO (Reuters) – Japan reported a wider-than-expected trade deficit in February as an energy-driven surge in import costs added to vulnerabilities for the world’s third-largest economy. Exports rose slightly less than expected despite a rebound in China-bound shipments, in a worrying sign for an economy facing growing uncertainty due to global supply…

By Kentaro Sugiyama and Yoshifumi Takemoto TOKYO (Reuters) – Japan will revoke Russia’s most-favoured nation trade status as part of further sanctions against Moscow following the invasion of Ukraine, two people with direct knowledge with the matter told Reuters on Wednesday. The government is set to announce the decision on Wednesday, public broadcaster NHK reported….

By Engen Tham and Xie Yu SHANGHAI/HONG KONG (Reuters) – Greenland Holdings Corp Ltd, a major Shanghai-based Chinese state-backed property developer responsible for marquee projects at home and abroad, was scrambling for funds late last year, people with direct knowledge of the matter said. In danger of defaulting on a $500 million offshore bond in…

By Kantaro Komiya TOKYO (Reuters) – Japanese manufacturers’ business confidence improved for the first time in three months in March, as automakers became less pessimistic, though firms feared a fresh surge in energy prices due to the Ukraine crisis, the Reuters Tankan poll showed. Service-sector sentiment turned negative for the first time since October due…

By Stephanie Kelly NEW YORK (Reuters) -Oil prices tumbled more than 6% on Tuesday to their lowest in almost three weeks, as Russia suggested it would allow a revival of the Iran nuclear deal to go forward and as traders worried growing pandemic lockdowns in China could dent demand. Both Brent and U.S. crude futures…