Reuters Asia - Squid Business

Vietnam central bank says Vietcombank, MBBank to take over smaller lenders

HANOI (Reuters) – Vietcombank and Military Commercial Joint Stock Bank (MBBank) will take over smaller lenders Construction Bank and Ocean Bank, respectively, Vietnam’s central bank said on Thursday. The moves are part of the central bank’s restructuring program to stabilise the financial sector and tackle non-performing loans. “The goal of the compulsory takeovers is for …

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Cricket-Woeful India dismissed for 46 by New Zealand

By Shrivathsa Sridhar BENGALURU (Reuters) – India were bowled out for 46 as New Zealand’s fast bowlers ran riot in overcast conditions on the second day of their rain-hit series opener on Thursday. It was India’s third-lowest innings tally in the longest format and their lowest at home since making 75 against the West Indies …

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India to sell onions from reserves to check prices

(Reuters) – India will sell onions from government reserves to bring down prices of the vegetable, consumer affairs secretary said on Thursday. India’s retail inflation in September accelerated to its highest in nine months, due to higher food prices, according to government data released on Monday. (Reporting by Mayank Bhardwaj, Writing by Ainnie Arif; editing …

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Investors turn short on most Asian FX as dollar strength prevails- Reuters poll

By Roushni Nair (Reuters) – Analysts turned bearish on most Asian currencies, with short bets on the Indian rupee at a one-year high, as expectations the Federal Reserve would cut rates less aggressively strengthened the dollar and took the shine off riskier Asian assets. Short positions in the South Korean won, the Philippine peso and …

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Japan’s ruling LDP at risk of losing majority in election, polls show

TOKYO (Reuters) -Japan’s ruling party may lose its majority in the lower house, according to media polling ahead of the Oct. 27 election, meaning it would likely have to rely on coalition partner Komeito to stay in power. The Liberal Democratic Party may not reach the 233 seats it needs for an outright majority in …

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Hyundai Motor India set to price shares at top of range to raise $3.3 billion, sources say

By Kane Wu and Scott Murdoch (Reuters) -Hyundai Motor India is set to price its shares at 1,960 rupees to raise $3.3 billion in its initial public offering, according to two sources with direct knowledge of the matter. That price is at the top of the 1,865 rupees to 1,960 rupees range flagged to investors …

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India’s Bajaj Auto slumps 12% on festive sales caution, drags broader market

(Reuters) – Bajaj Auto’s shares tumbled 12% on Thursday after the Indian motorcycle maker said it anticipated weak festive season sales, a warning that slammed other automakers and also pulled down the broader market. India’s third-biggest motorcycle maker by sales said festive sales of motorcycles had grown only about 1%-2% so far this month, falling …

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India equity option traders hunt for new playgrounds as tighter rules loom

By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – Millions of Indian retail traders are exploring alternative ways to earn profits ahead of stricter regulations on trading equity derivatives next month, but their transition is unlikely to be smooth, investors and brokers say. Derivatives trading in India has boomed in the past few years, with …

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J-Hope, of South Korea’s BTS, finishes military service

WONJU, South Korea (Reuters) -K-pop star J-Hope, a member of the supergroup BTS, was discharged from South Korea’s military on Thursday after 18 months of duty, sparking enthusiasm among fans and investors for a potential reunion of the boy band next year. J-Hope, 30, is the second member of the seven-member group to wrap up …

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China hedge funds caught out by abrupt market surge

SHANGHAI (Reuters) – China’s abrupt and ferocious stock market rally has slammed some of the country’s biggest hedge funds, forcing them to hastily cover short positions and take losses on their bets in the heavily regulated derivatives market. Beijing X Asset Management, Techsharpe Quant (Beijing) Capital Management and Shenzhen Chengqi Funds are among the funds …

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