SYDNEY (Reuters) – Westpac on Friday lifted its forecast for Australia’s cash rate peak to 4.6%, tipping quarter-point hikes in July and August, joining other major banks that are expecting higher rates and slower growth as the central bank turns more hawkish. Rates are already at an 11-year high of 4.1%, but the Reserve Bank…
By Yukiko Toyoda and Tim Kelly TOKYO (Reuters) -The U.S. expects a “transformational moment” in India ties during Prime Minister Narendra Modi’s upcoming trip to Washington, President Joe Biden’s national security adviser said as he downplayed chances for a diplomatic breakthrough in China when U.S. Secretary of State Antony Blinken visits next week. “Secretary Blinken’s…
By Elaine Lies TOKYO (Reuters) -Japan enacted a law on Friday meant to promote understanding of the LGBT community that critics say provides no human rights guarantees, though some conservative lawmakers said the measure is too permissive. Japan, the only Group of Seven (G7) nation that does not have legal protection for same-sex unions, had…
By Rae Wee and Patturaja Murugaboopathy SINGAPORE (Reuters) – Thailand’s stock market has become the symbol of investor disenchantment with China’s economic reopening, going from market darling in January to Asia’s second-worst performing market by June, with little sign of a turnaround. Not only has the promised export boom and tourism boost from China’s return…
By Ira Dugal MUMBAI (Reuters) – A sequential increase in merchandise imports in May that led to the trade deficit widening to a five-month high signalled a stable local economy, economists said. Merchandise imports advanced 14.5% over the previous month to $57.1 billion, while exports inched up 0.7% to $35 billion. The merchandise trade deficit…
By Brenda Goh SHANGHAI (Reuters) -U.S. memory chipmaker Micron said on Friday it was committed to China and would invest 4.3 billion yuan ($603 million) over the next few years in its chip packaging facility in the Chinese city of Xian. The company has been targeted by China’s cyberspace regulator, which last month said the…
By Georgina Lee HONG KONG (Reuters) – Hong Kong interbank rates rose across all tenors on Friday, with the overnight interbank offered rate rising the most, climbing to the highest in four weeks. The overnight Hong Kong interbank offered rate (Hibor) jumped 63.5 basis points (bps) to 4.88%. One-week Hibor rose 62 bps to 4.92%,…
SEOUL (Reuters) – A U.S. nuclear-powered submarine has arrived at a port in the South Korean city of Busan, the South Korean military said on Friday. It is the first time in nearly six years that a submarine classified as “SSGN” by the U.S. Navy, or a cruise-missile submarine, has stopped off in South Korea….
By Soo-hyang Choi and Hyonhee Shin SEOUL (Reuters) – South Korea has recovered from the sea part of a rocket used in North Korea’s failed attempt to launch its first military satellite last month, the Joint Chiefs of Staff said on Friday. The announcement came about two weeks after North Korea unsuccessfully tried to launch…
BEIJING (Reuters) – China will speed up the process to allow private firms to access infrastructure of major national scientific research projects and will encourage private businesses to participate in key supply chain projects, a state planner spokesperson said on Friday. Private fixed-asset investment shrank 0.1% in the first five months of the year, a…
