By Kanupriya Kapoor (Reuters) – Most Asian stock indices fell on Wednesday, as growing fears over the global economy drove investors to dump riskier assets in favour of safe havens such as the U.S. dollar and government bonds. Financial markets are grappling with multiple risks, including the prospects for aggressive U.S. interest rate hikes, a…
SINGAPORE (Reuters) – Two of Australia’s big four banks expect the benchmark cash rate will rise next week and a third sees increased risk of a hike after a surprisingly strong inflation reading on Wednesday. National Australia Bank and ANZ Bank pulled forward their lift-off forecasts from June to May and expect a 15 basis…
By Florence Tan (Reuters) -Oil prices extended gains in early Asian trade on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Poland, while hopes of Chinese economic stimulus buoyed the demand outlook. Brent crude futures rose 44 cents, or 0.4%, to $105.43 a barrel by 0418 GMT. U.S. West Texas Intermediate crude…
By Heekyong Yang and Byungwook Kim SEOUL (Reuters) -LG Energy Solution Ltd (LGES) booked a 24% quarterly profit drop on Wednesday, far milder than market estimates, as strong sales of batteries to Tesla Inc offset troubles at automotive clients where chip shortages have hit production. Rising raw materials prices and supply-chain disruption set LGES up…
By Joyce Lee SEOUL (Reuters) -South Korean chipmaker SK Hynix Inc said it expects solid demand for server chips to offset weaker growth from personal computers and mobile phones, after its first-quarter profit more than doubled from a year ago. The world’s second-biggest memory chipmaker on Wednesday posted a 116% jump in Q1 earnings, supported…
TOKYO (Reuters) – Shares in Asahi Group Holdings surged on Wednesday after the Japanese beermaker announced its first price increases for canned beer in 14 years and a range of other price hikes to cope with rising costs. Retail prices on 162 items, mostly beer products, will rise between 6% and 10% from Oct. 1,…
(Corrects to TME from CME in second paragraph) BEIJING (Reuters) – NetEase’s Cloud Music unit said on Wednesday it has initiated legal proceedings against Tencent Music Entertainment (TME), alleging unfair competition. NetEase Cloud Music said in the statement that TME had repeatedly and “illegally” played “unauthorised” songs on TME’s various music-streaming platforms. (This story corrects…
TOKYO (AP) — Tokyo’s Shibuya is famed for its Scramble Crossing, where crowds of people crisscross the intersection in a scene symbolizing urban Japan’s congestion and anonymity. It may have added another boasting right. Tokyu Railways’ trains running through Shibuya and other stations were switched to power generated only by solar and other renewable sources…
By Wayne Cole SYDNEY (Reuters) – Australian consumer prices surged at the fastest annual pace in two decades last quarter as petrol, home building and food costs all climbed, spurring speculation interest rates could rise as soon as next week. That would be unwelcome news for Prime Minister Scott Morrison as he fights a tough…
By Tom Westbrook SINGAPORE (Reuters) – The dollar stood at its highest level since the early days of the pandemic on Wednesday and was heading for its best month since 2015, supported by the prospect of U.S. rate hikes and on safe-haven flows fanned by slowing growth in China and Europe. The U.S. dollar index,…
