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Asia Business

Sri Lankan shares close at 3-week high; Keells leads

13h24 Sri Lankan shares rose on Thursday and marked their highest close in nearly three weeks, led by market heavyweight John Keells Holdings, as foreign buying boosted sentiment.. . .  Full story

Saudi Aramco in talks to buy stake in world's no. 4 chemical firm

12h36 Saudi Aramco <IPO-ARAM.SE> said on Thursday it is looking to buy a strategic stake in Saudi petrochemical maker SABIC, a move that could boost the state oil giant's market valuation ahead of a planned. . .  Full story

SE Asia Stocks-Mostly up; Malaysia gains for 9th session

12h17 Singapore marked its highest close in over three weeks on Thursday and Malaysia extended gains into a ninth session as positive earnings from Wall Street and the Federal Reserve chairman's view on the U.S.. . .  Full story

Kobe Steel says Tokyo prosecutors have indicted company over data tampering scandal

11h11 Kobe Steel Ltd, Japan's third-biggest steelmaker, said on Thursday it has been indicted by prosecutors over a data tampering scandal that shook the company and faith in Japanese manufacturing prowess last year.. . .  Full story

HK shares drop, led by airlines, as yuan falls to 1-yr low vs dollar

11h06 Hong Kong shares fell on Thursday, as an accelerated depreciation of the Chinese currency hit airline stocks and soured investor appetite for yuan-based assets.. . .  Full story

Japan's LNG imports fall to lowest since May 2016 as nuclear units come online

10h26 Japanese imports of liquefied natural gas (LNG) in June fell to the lowest in more than two years as the country's utilities switched on more nuclear reactors that had been shut in the wake. . .  Full story

China stocks fall, airlines slump on yuan weakness

09h30 China stocks fell on Thursday, dragged by airliners, as the yuan dropped to a one-year low against the dollar after news that Beijing plans to step up monetary easing measures.. . .  Full story

Nikkei snaps 4-day winning streak; weak cosmetics cos offset oil, machinery stocks

09h22 Japan's Nikkei share average snapped a four-day winning streak in choppy trade on Thursday as investors took profits, with weakness in inbound-tourism related stocks offsetting gains in oil names and machinery makers.. . .  Full story

Socar's oil trading arm rolls back expansion after weak profits

09h00 Azerbaijan's Socar is refocusing its trading arm's activities on LNG and its new Turkish refinery while winding down less profitable trades as it feels the sting of weak profits, sources familiar with the matter. . .  Full story

Super-long JGBs edge up after central bank's debt-buying operation

07h48 Prices of super-long Japanese government bonds edged higher on Thursday, drawing support from the central bank's regular debt-buying operation.. . .  Full story

China stocks fall despite lending support as yuan weakens

06h28 China stocks dropped on Thursday, despite moves by the central bank to encourage more bank lending, as persistent yuan weakness hit airline stocks. Hong Kong equities were roughly flat.. . .  Full story

Nikkei gains for 5th day; oil shares, chip equipment firms rally

04h56 Japan's Nikkei share average gained on Thursday, hovering at a one-month high thanks to a softer yen as well as strong demand for energy, mining and chip equipment makers, though investors were wary of. . .  Full story

Xi's campaign to draw people back to greying rural China faces uphill battle

04h09 Liu Deke, 73, puffed away on a roll-up as he threshed stalks of dried rapeseed on a large canvas sheet. Nearby, plumes of billowy smoke from burning stalks drifted across the rice fields.. . .  Full story

S.Korea's extra fiscal spending, tax cuts could add 0.1 pct pt to 2018 growth - officials

02h48 South Korea's 4 trillion won ($3.54 billion) of extra fiscal spending and tax cuts announced this week is expected to boost economic growth by 0.1 of a percentage point this year, two finance ministry. . .  Full story

Japan business mood slips amid fears of trade war -Reuters Tankan

01h00 Japanese business sentiment slipped in July, a Reuters poll found, reflecting companies' fear of fallout from an intensifying trade dispute between the United States and China, even though Japan's economy is expected to bounce back. . .  Full story

Venezuela says it is refining gold in Turkey following sanctions

18/07 Venezuela's central bank this year began refining gold in Turkey following a wave of international sanctions that have left it unwilling to carry out such operations in Switzerland, the country's mining minister said on Wednesday.. . .  Full story

Bidders emerge for Abraaj's investment business -sources

18/07 Several potential buyers have emerged for Middle East buyout firm Abraaj's investment management business as a revised offer from previous frontrunner Colony Capital was rejected, say sources familiar with the matter. The bids by Cerberus Capital. . .  Full story

China's to encourage banks to lend more, invest in corporate bonds - source

18/07 China's central bank plans to introduce incentives that will boost the liquidity of commercial banks, helping them to expand lending and increase investment in bonds issued by corporates and other entities, a source with direct. . .  Full story

Ethiopia asks Saudi for year's worth of fuel, with payment delayed

18/07 Ethiopia has asked Saudi Arabia for a year's supply of fuel with payment delayed for 12 months because of its chronic lack of foreign exchange, Prime Minister Abiy Ahmed's chief of staff said on. . .  Full story

Saudi Aramco mulls stake in world's no. 4 chemical firm - sources

18/07 Saudi Arabia's government is considering a plan under which Aramco would buy a stake in Saudi petrochemical maker SABIC, a move that could boost the state oil giant's market valuation ahead of a planned. . .  Full story

India's RCom reports smaller loss in first quarter

18/07 Debt-laden Indian telecoms company Reliance Communications Ltd (RCom) said its losses narrowed in the first quarter and it is confident of closing its debt resolution process by the end of September.. . .  Full story

India's coal demand rose 7.5 pct to 900 mln T in 2017/18 - minister

18/07 India's coal demand rose 7.5 percent to about 900 million tonnes in the year ending March 2018, Coal Minister Piyush Goyal told lawmakers on Wednesday.. . .  Full story

OPEC, non-OPEC ministerial committee, joined by Iran, hold conference call - sources

18/07 A joint OPEC and non-OPEC ministerial monitoring committee, chaired by Saudi Arabia and joined by Iran, held a conference call on Wednesday, two sources familiar with the matter told Reuters.. . .  Full story

Sri Lankan shares fall; foreign selling continues

18/07 Sri Lankan shares slipped on Wednesday from their highest close in nearly three weeks recorded in the previous session, as investors sold diversified and telecommunication shares.. . .  Full story

SE Asia Stocks-Climb on U.S. Fed Chief's testimony; Vietnam up 2.3 pct

18/07 Southeast Asian stock markets ended higher on Wednesday, with the Philippines closing at an over one-month high and Vietnam gaining over 2 percent, as a bullish outlook from the U.S. Federal Reserve chairman lifted. . .  Full story

China Tower aims to raise up to $8.8 bln in Hong Kong IPO -IFR

18/07 China Tower, the world's biggest operator of mobile phone network masts, plans to raise up to $8.8 billion from a Hong Kong listing at a valuation of up to $35 billion, Thomson Reuters publication. . .  Full story

China to open power trading to hydro, nuclear power generators -NDRC

18/07 China will open an electricity trading market for hydropower and nuclear power generators, and accelerate the process for coal-fired power plants to join the market, the country's state planner said in a statement on Wednesday.. . .  Full story

Toshiba may face renewed shareholder accounting claims -US appeals court

18/07 A U.S. appeals court gave investors in Toshiba Corp's U.S.-listed securities another chance to show they suffered losses because the Japanese industrial conglomerate misled them about its internal controls before a 2015 accounting scandal.. . .  Full story

San Miguel to invest $1 bln in new breweries as Philippine beer demand grows

18/07 Philippines conglomerate San Miguel Corp is planning to invest at least $1 billion in the next two years to build 10 breweries inside and outside the country, senior company executives said on Wednesday.. . .  Full story

Hong Kong shares down slightly as yuan weakens

18/07 Hong Kong shares fell slightly on Wednesday, with risk appetite curbed by renewed yuan weakness.. . .  Full story

China stocks fall as yuan hits 2-week low

18/07 China stocks erased earlier gains and ended Wednesday lower as a weaker yuan pulled down prices of real estate developers and airliners.. . .  Full story

Malaysia's June inflation rate at 3-year low, but rate cut unlikely

18/07 Malaysia's annual inflation rate slowed to its lowest in more than three years in June, after the government abolished a goods and services tax (GST), but economists said this was unlikely to lead to any. . .  Full story

Nikkei rises to more than 1-month high; automakers, tech shares gain

18/07 Japan's Nikkei share average advanced to a more than one-month high on Wednesday as exporters such as automakers and technology firms got a boost after the dollar hit a six-month high against the yen.. . .  Full story

BOK needs to closely monitor outflows as Fed raises rates - board member

18/07 South Korea's central bank needs to more closely monitor financial stability and capital outflows as the spread between the nation's benchmark interest rate and its U.S. counterpart widens, a bank board member said on Wednesday.. . .  Full story

JGBs fall as equities extend gains; strong auction limits losses

18/07 Japanese government bonds prices fell on Wednesday, as equities rose further with investors' risk appetite remaining strong on the back of a weaker yen, although a strong liquidity-enhancing auction limited the downside.. . .  Full story