Reuters Asia

China to prevent superfluous new energy vehicle projects by local governments

BEIJING (Reuters) – China will take forceful measures to prevent superfluous new energy vehicle (NEV) projects by some local governments and automakers, China’s vice industry minister Xin Guobin said at a press conference on Friday. China will also take measures against disruptive competitive practices in NEV sales, Xin said. (Reporting by Beijing newsroom; Editing by …

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Japan’s finance minister: Watching currency moves carefully

By Leika Kihara TOKYO (Reuters) – Japanese Finance Minister Shunichi Suzuki said on Friday the government was watching currency moves carefully, when asked about the yen’s recent fast-pitched declines. “It’s important for currency rates to move stably reflecting fundamentals,” Suzuki told a regular news conference. The dollar has risen nearly 5% against the yen this …

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Japan’s core inflation slows for 2nd month, takes pressure off BOJ

By Leika Kihara and Takahiko Wada TOKYO (Reuters) -Japan’s core inflation stayed above the central bank’s 2% target in December but slowed for a second straight month, data showed on Friday, reinforcing expectations it will be in no hurry to phase out its massive monetary stimulus. The data, which matched median market forecasts, highlights receding …

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TSMC shares soar after bullish outlook

TAIPEI (Reuters) – Taipei-listed shares of Taiwanese chipmaker TSMC opened up 6% on Friday after the company projected more than 20% growth in 2024 revenue on booming demand for high-end chips used in artificial intelligence (AI) applications. The outlook also cheered the broader market, which rose 2%. (Reporting by Ben Blanchard; Editing by Tom Hogue)

China to track developments in Red Sea, provide support to foreign trade enterprises

BEIJING (Reuters) – China’s Ministry of Commerce said it was closely tracking developments in the Red Sea in response to the escalating situation there and the country would provide support and assistance to foreign trade enterprises. “It is hoped that all parties concerned will restore and ensure the security of shipping lanes in the Red …

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