Reuters Asia - Squid Business

India ETF flows hit record in 2023, analysts see momentum persisting in election year

By Bansari Mayur Kamdar NEW DELHI (Reuters) – Net inflows into exchange traded funds (ETFs) tracking Indian stocks hit a record high in 2023, with analysts optimistic that investors will continue to buy into the world’s fastest-growing major economy even as keenly watched general elections loom. India-focused ETFs saw net inflows of $8.6 billion last …

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India’s IT stocks extend gains on bets of growth rebound

BENGALURU (Reuters) -India’s IT companies gained 4% on Monday following better-than-expected results from Wipro and HCLTech, signalling stability in demand. Wipro’s shares rose 13.7% to their highest since April 2022, and were on track for their best day since July 2020. HCLTech shares rose over 5% to a record high. The 10-member Nifty IT index …

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Tourists stranded by avalanches in China’s Xinjiang lifted to safety by helicopter

BEIJING (Reuters) – Some tourists stranded for several days after avalanches hit highways leading to a popular winter tourism area in China’s northwest region of Xinjiang were lifted by helicopter to safety, according to local media reports on Sunday. Days of heavy snow at Altay Prefecture in northwest China’s Xinjiang Uygur Autonomous Region triggered dozens …

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Vietnam’s top leader attends parliament session after health concerns

HANOI (Reuters) -Vietnam’s top leader, Communist Party head Nguyen Phu Trong, on Monday attended a session of the National Assembly after concerns had been raised for days over his health. Earlier this month, contrary to normal practice, Trong, 79, had not been included in official schedules of meetings held with Vietnam’s leaders by visiting Indonesian …

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China central bank holds medium-term rate but adds liquidity

SHANGHAI (Reuters) -China’s central bank left the medium-term policy rate unchanged on Monday, defying market expectations as signs of a weaker currency continued to limit the scope of monetary easing. A slew of recent economic indicators continued to reflect the country’s uneven economic recovery, with a pick-up in exports in December but weak credit growth …

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North Korea says it tested solid-fuel hypersonic missile

By Hyunsu Yim SEOUL (Reuters) – North Korea on Sunday tested a new solid-fuel hypersonic missile with intermediate range, state news agency KCNA said on Monday, in a move that was condemned by the United States, South Korea and Japan. The launch was aimed at testing the reliability of new multi-stage, high-thrust solid-fuel engines and …

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Weak demand, tighter lenders: Hong Kong property developers face tough 2024

By Clare Jim HONG KONG (Reuters) -Hong Kong’s property companies face a squeeze in 2024 from rising funding costs and sluggish home sales and office rentals, making creditors and investors cautious about developers’ financial health. Some of Hong Kong’s major banks have cut off fresh financing to the city’s highly leveraged or weak property companies, …

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China’s 2023 bank lending at record high, but economy still struggling

By Judy Hua and Kevin Yao BEIJING (Reuters) -New bank lending in China rose less than expected in December, but 2023 lending hit a new record as the central bank kept policy accommodative to support an unexpectedly shaky economic recovery. Chinese banks extended 1.17 trillion yuan ($163.31 billion) in new yuan loans in December, up …

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Exclusive-China’s military and government acquire Nvidia chips despite US ban

By Eduardo Baptista BEIJING (Reuters) – Chinese military bodies, state-run artificial intelligence research institutes and universities have over the past year purchased small batches of Nvidia semiconductors banned by the U.S. from export to China, a Reuters review of tender documents show. The sales by largely unknown Chinese suppliers highlight the difficulties Washington faces, despite …

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Explainer-What are solid-fuel missiles, and why is North Korea developing them?

By Hyonhee Shin SEOUL (Reuters) -North Korea test-fired what it says was a new intermediate-range ballistic missile (IRBM) on Sunday, in what would be its first such missile powered by solid fuel designed boost capabilities for launching with little preparation. The new missile was also equipped with a hypersonic manoeuvrable controlled warhead, state media said. …

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