Asia Business

Algeria prepares new plan to revive economy, reduce dependence on oil

07/07 OPEC member Algeria, facing financial pressure after a fall in energy revenue, will launch a new economic plan to reduce reliance on oil and gas and give the private sector a greater role, the. . .  Full story

Jordan energy plan seeks major reduction in foreign fuel imports, minister says

07/07 Energy-dependent Jordan said a ten-year plan to expand renewable and oil shale resources will reduce its reliance on costly foreign fuel imports that burden its economy and move it towards self-sufficiency.. . .  Full story

Libya's NOC says oil blockade to halve oil output in coming years

07/07 Libya's National Oil Corporation (NOC) said on Tuesday that a forced shutdown in production since January was expected to result in output dropping to 650,000 barrels per day (bpd) in 2022 from about 1.2. . .  Full story

UAE's ADNOC to boost August oil exports as OPEC+ cuts set to ease- sources

07/07 Abu Dhabi National Oil Company (ADNOC) plans to boost its oil exports in August, the first signal that OPEC and its allies are preparing to ease record oil output cuts next month, three sources. . .  Full story

Israel pushes back creation of sovereign wealth fund as gas revenue trickles in

07/07 Israel has pushed back the creation of a sovereign wealth fund because tax revenue from natural gas has not yet hit the minimum needed to begin investing, and fund managers have not yet been. . .  Full story

Global recession will hasten refinery rationalisation: Kemp

07/07 Coronavirus and the cyclical slump in petroleum consumption are accelerating a long-term rationalisation of the global refining industry and a shift eastwards in its centre of gravity to Asia.. . .  Full story

Angola agrees to comply fully with oil cuts after OPEC pressure, sources say

07/07 Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduction by cutting more from July to September, two OPEC sources. . .  Full story

Moody's, S&P monitoring Indonesian central bank's credibility in new debt scheme

07/07 The ratings agencies Moody's and S&P said on Tuesday Indonesia's debt monetization would not affect the country's credit ratings in the short term, but they are monitoring how the central bank maintains its credibility. . .  Full story

Despite downturn, Saudi Arabia pursues goal of doubling size of capital city

07/07 Saudi Arabia is pressing on with plans to double the size and population of its capital city in the next decade, a government official said, despite an economic downturn due to the coronavirus crisis. . .  Full story

Indian shares end higher for fifth day, lenders soar

07/07 Indian shares closed higher for a fifth straight session on Tuesday, as gains in IT and beaten down financial companies helped Mumbai's main indexes outperform other stock markets after a week-long rally.. . .  Full story

Japan boosts rescue efforts as it warns of more rain in flood-hit areas

07/07 Japan on Tuesday warned of more heavy rain on the southwestern island of Kyushu and bolstered rescue operations as the death toll in flood-hit areas rose past 50 with about a dozen people reported. . .  Full story

Asia Distillates-Gasoil cracks drop on concerns over demand recovery

07/07 Asian refining margins for 10 ppm gasoil slipped on Tuesday despite weaker raw material crude prices as traders expect refiners to add fresh supplies to the market, while concerns about demand due to. . .  Full story

Turkish floating power plant firm aims to end blackouts in west Libya

07/07 A Turkish company that runs a fleet of floating power generators is sending a technical team to Libya to make a proposal to supply electricity to the west of the North African nation, an. . .  Full story

Thai Q1 household debt at 80% of GDP, highest in 4 years

07/07 Thailand's household debt level to gross domestic product (GDP) rose slightly to 80.1% in the first quarter, the highest level in four years, central bank data showed, with the trend set to continue as. . .  Full story

As FOMO drives torrid Chinese stocks rally, 2015 is a faint memory

07/07 A state-endorsed rally in Chinese stocks has driven share prices to five-year highs, spurred a retail investor splurge and raised concern among some market participants about a repeat of 2015's bubble-and-burst episode.. . .  Full story

Hong Kong shares retreat as investors book profits

07/07 Hong Kong shares fell on Tuesday as a rally that pushed the city's benchmark index sharply higher over four days lost steam, with investors booking profits from recent gains. ** At the close of trade,. . .  Full story

Malaysia's cuts rates to support recovery, spur inflation

07/07 Malaysia's central bank cut its key interest rate for the fourth straight meeting to a record low as policymakers sought to support a budding recovery in Southeast Asia's third largest economy, which has been battered. . .  Full story

Nikkei falls on record slump in household spending; SoftBank Group jumps

07/07 Japanese stocks ended lower on Tuesday after domestic household spending dropped at the fastest pace on record in May due to the coronavirus lockdown, although heavyweight SoftBank Group's sharp gains helped stem the benchmark's losses.. . .  Full story

China blue-chip shares end at over 5-yr high in bull run's 6th day

07/07 Chinese blue-chip shares rose for a sixth straight day to close at a more than five-year high on Tuesday, as retail investors rushed to join an officially sanctioned bull market, but stocks pared gains. . .  Full story

JGBs rally on relief after 30-year auction attracts strong demand

07/07 Japanese government bond (JGB) prices gained on Tuesday after an auction of 30-year bonds attracted solid demand, allaying concerns about an increased supply from this month.. . .  Full story

Malaysia's AirAsia sees 2020 capacity at 45-60% of 2019 levels on virus hit

07/07 Malaysia's flagship budget carrier AirAsia Group Bhd expects its 2020 capacity to be just 45%-60% of last year's levels due to the coronavirus outbreak and to fill 70-75% of seats this year compared with the. . .  Full story

Japan's household spending slumps by record as curbs hit travel, dining out

07/07 Japan's household spending fell at the fastest pace on record in May, as consumers heeded authorities' calls to stay home to contain the coronavirus pandemic, pushing the world's third-largest economy deeper into decline.. . .  Full story

Japan households most pessimistic in over a decade - BOJ survey

07/07 Japanese households were the most pessimistic about the economy in more than a decade in the three months to June, a central bank survey showed on Tuesday, underscoring the devastating impact the coronavirus pandemic. . .  Full story

Indian committee recommends moving S.Korea-owned plant hit by gas leak

07/07 An investigation into a deadly gas leak at a South Korean-owned chemical plant in southern India that killed 12 people in May recommended the factory be moved away from inhabited areas, according to its full. . .  Full story

Japan govt says coincident indicator index suggests economy is worsening

07/07 Japan's coincident indicator index fell in May and the government kept its view on the index, signalling the coronavirus outbreak was hurting the economy.. . .  Full story

China shares extend rally into sixth day; Hang Seng takes breather

07/07 A Chinese share rally extended into its sixth day on Tuesday, as retail investors rushed to join an officially sanctioned bull market, but stocks in Hong Kong paused as investors consolidated gains.. . .  Full story

Japanese shares fall as household spending slumps; SoftBank Group soars

07/07 Japanese shares edged lower on Tuesday after data showed that domestic household spending had dropped at the fastest pace on record in May during the coronavirus-led lockdown, pushing the world's third-largest economy deeper into decline.. . .  Full story

Philippine inflation quickens in June as coronavirus lockdown eased

07/07 Philippine inflation picked up faster than expected in June as economic activity gradually resumed with the easing one of the world's longest coronavirus lockdowns, driving food and fuel prices as well as the transport index. . .  Full story

New security law starts to break down Hong Kong's pro-democracy economy

07/07 As soon as Hong Kong's new national security law came into force last week, Ivan Ng removed all the protest-themed paintings, posters and flags from the list of items for sale at his Onestep. . .  Full story

-India reviewing around 50 investment proposals from Chinese firms - sources

07/07 The Indian government is reviewing around 50 investment proposals involving Chinese companies under a new screening policy, three sources familiar with the matter told Reuters.. . .  Full story

Bahrain's GDP growth rates down by 1.1% in Q1 Y/Y - BNA

06/07 Bahrain's GDP growth rates down by 1.1 percent in Q1 on an annual basis, state news agency (BNA) reported on Monday citing a finance ministry report.. . .  Full story

Gold gains as surging virus cases eclipse positive U.S. data

06/07 Gold on Monday edged toward a near 8-year high hit last week as a spike in coronavirus cases kept safety demand elevated, although robust equities and positive U.S. services sector data limited the metal's. . .  Full story

Probe into deadly south Indian gas leak finds LG Polymers negligent

06/07 An investigation into a gas leak that killed 12 people at a plant run by LG Polymers in southern India in May found the company was negligent and warning systems were not working, the. . .  Full story

Cerberus wants 'orderly process' to fill Commerzbank leadership void

06/07 Cerberus, a major shareholder in Commerzbank, said on Monday that the German bank must find a chairman before there is a formal search for a chief executive.. . .  Full story

Cambricon to raise $367.8 mln in IPO amid Chinese chip fever

06/07 AI chipmaker Cambricon Technologies Corp said it will raise 2.58 billion yuan ($367.76 million) in its Shanghai initial public offering after pricing the listing at 64.39 yuan a share.. . .  Full story

India reviewing around 50 investment proposals from Chinese firms - sources

06/07 The Indian government is reviewing around 50 investment proposals involving Chinese companies under a new screening policy, three sources familiar with the matter told Reuters.. . .  Full story

Israel cenbank expands bond market intervention, holds interest rates

06/07 Bank of Israel Governor Amir Yaron said risks to the economy were rising due to a resurgence in COVID-19 cases, but the central bank opted to focus on calming financial markets and ensuring the. . .  Full story

Malaysia’s AirAsia reports first-quarter loss as virus hits demand

06/07 Malaysia's flagship budget carrier AirAsia Group Bhd on Monday reported a first-quarter loss, battered by a collapse in air travel demand resulting from the coronavirus pandemic, as well as losses on a fuel hedges settlement.. . .  Full story

Japan agrees with experts to ease restrictions on events from July 10

06/07 Japanese Economy Minister Yasutoshi Nishimura said on Monday the government had agreed with members of a new expert panel to ease restrictions on holding events from July 10.. . .  Full story

Kenya announces phased reopening from coronavirus lockdown

06/07 Kenya's President Uhuru Kenyatta announced on Monday a phased reopening of the country from a COVID-19 lockdown, lifting restrictions on travel in and out of the capital Nairobi and allowing air travel to resume.. . .  Full story

Asia Distillates-Jet cash discounts narrow; market recovery still afar

06/07 Asia's cash discounts for jet fuel narrowed on Monday amid hopes for firmer aviation demand in coming months though traders remained worried the market would stay under pressure as long as international travel. . .  Full story

Indian stocks at 4-month highs as HDFC Bank, autos climb

06/07 Indian shares closed higher on Monday, jumping aboard a China-driven rally in global shares, with HDFC Bank Ltd gaining after it reported strong loan growth through the first months of the COVID-19 crisis.. . .  Full story

Wuhan raises flood alert level as rains batter China

06/07 The central Chinese city of Wuhan, epicentre of the new coronavirus pandemic, raised its flood alert level on Monday as torrential rain and thunderstorms battered swathes of the country, including the Yangtze river on which. . .  Full story

Hong Kong stocks track mainland gains, end at over 4-month high

06/07 Hong Kong shares closed at a more than four-month high on Monday, tracking equities in the mainland that rose on hopes of a faster economic recovery, Beijing's continued reforms in the capital markets and. . .  Full story

China's blue-chips vault to 5-year high on hopes of economic recovery, policy support

06/07 China stocks closed higher for a fifth straight session on Monday, extending a robust rally, led by financial shares on hopes of a quick economic recovery, Beijing's continued reforms in the capital markets and. . .  Full story

Tunisia's Ennahdha party to review stance on government

06/07 The moderate Islamist party Ennahda will review its stance on Tunisia's coalition government over an alleged conflict of interests involving Prime Minister Elyes Fakhfakh, the party said on Sunday.. . .  Full story

Nikkei hits near 1-month high as China rebound hopes boost shippers, steelmakers

06/07 Japanese shares rose on Monday as signs of an economic rebound in China boosted shippers and steelmakers, while worries over a spike in COVID-19 cases in some U.S. states were offset by prospects of. . .  Full story

Production resumes at two oilfields shared with Saudi Arabia -Kuwait oil ministry

06/07 Crude oil production resumed early July at the Wafra oilfield, shared by Kuwait and Saudi Arabia, after a five-year halt, the Kuwaiti oil ministry said on Twitter on Monday.. . .  Full story

Malaysia June-end palm oil stocks seen down 4.9% as exports hit 10-month high

06/07 Malaysia's palm oil inventories in June likely fell about 5% from May as a recovery in demand from key importers due to the easing of coronavirus-fuelled curbs lifted exports to a 10-month high.. . .  Full story

China needs a bull market to build strength - state media

06/07 In a world reshaped by coronavirus, China needs further share market gains to fund a rapidly developing digital economy and strengthen its hand in intensifying power rivalries, state media said on Monday.. . .  Full story

JGBs dip as China recovery hopes boost risk appetite

06/07 Japanese government bonds dipped on Monday as hopes of a solid economic recovery in China boosted investors' risk sentiment and lifted regional stock prices ahead of a crucial 30-year debt auction.. . .  Full story

Foreign yuan bond holdings hit new peak in June as yields lure buyers

06/07 Foreign holdings of Chinese yuan bonds hit fresh highs in June as attractive yield premiums continued to lure investors, official data showed on Monday.. . .  Full story

Indonesian beauty startup Social Bella raises $58 mln funding round

06/07 Indonesian beauty startup Social Bella, which operates beauty e-commerce platform Sociolla, said on Monday it had raised $58 million from its existing investors, including Singapore state-investor Temasek .. . .  Full story

Fujitsu to halve office space in 3 years citing 'new normal'

06/07 Japan's Fujitsu Ltd said on Monday it would halve its office space in three years as it rewrites the way employees work under a "new normal" amid the coronavirus pandemic.. . .  Full story

Nearly 40 feared dead as torrential rains hit southwest Japan

06/07 Nearly 40 people were feared dead as torrential rains continued to hit Japan's southwestern island of Kyushu, with river banks at risk of bursting on Monday morning and new evacuation orders put in. . .  Full story

Japanese shares jump 1.5% as China rebound hopes boost shippers, steelmakers

06/07 Japanese shares rose on Monday as signs of an economic rebound in China boosted shippers and steelmakers, while investor concerns about a spike in U.S. COVID-19 cases were offset by prospects of policy support. . .  Full story

SoftBank governance reforms stop short of Vision Fund -sources

06/07 SoftBank Group Corp has no plans to increase board oversight of its $100 billion Vision Fund, two sources said, disregarding calls from activist investor Elliott Management and signalling governance reforms have stopped short of the. . .  Full story

China reports 4 new coronavirus cases in mainland for July 5

06/07 China on Monday reported 4 new coronavirus cases in the mainland for July 5, down from 8 cases a day earlier, the health authority said.. . .  Full story

Israel's El Al to become leaner after government bailout

05/07 El Al's fate is expected to be decided in the coming days, with the Israeli airline looking to reach a deal with workers on job and spending cuts to get government aid.. . .  Full story

Mainland China reports eight new coronavirus cases, two in Beijing

05/07 China recorded eight new coronavirus cases for July 4, up from with three a day earlier, the national health authority said on Sunday, while city officials in Beijing said nearly all the cases in. . .  Full story

Democracy activists' books unavailable in Hong Kong libraries after new law

05/07 Books by prominent Hong Kong pro-democracy figures have become unavailable in the Chinese-ruled city's public libraries as they are being reviewed to see whether they violate a new national security law, a government department said. . .  Full story

Bajaj Auto unions demand factory halt after 250 workers catch coronavirus

04/07 Workers at Bajaj Auto, India's biggest exporter of motorbikes, are demanding the temporary closure of one of its plants after 250 employees there tested positive for coronavirus, its unions said on Saturday, as companies struggle. . .  Full story

China says G4 swine flu virus not new; does not infect humans easily

04/07 China's Ministry of Agriculture and Rural Affairs said on Saturday that the so-called "G4" strain of swine flu virus is not new and does not infect or sicken humans and animals easily, rebuffing a. . .  Full story

China names and shames misbehaving shareholders of banks, insurers

04/07 Chinese regulators adopted shock and awe tactics on Saturday to target misbehaving shareholders of banks and insurers by naming and shaming 38 corporate investors for having "gravely" violated rules and laws in their first such. . .  Full story

Sharp says sticking to plans to list Dynabook PC unit in FY2021

04/07 Japan's Sharp Corp said on Saturday it is sticking to an original plan to list its laptop making unit in the business year from next April, denying a media report that it may take. . .  Full story

Vietnam to sell remaining 36% stake in largest brewer Sabeco

04/07 Vietnam's government will sell its remaining 36% stake in the country's largest brewer Sabeco by the end of this year, according to a government document released this week.. . .  Full story

Thai government survives key test with $106 bln budget vote

03/07 Thailand's coalition government survived a key challenge on Friday when parliament passed the first reading of a $106 billion draft budget bill for the 2021 fiscal year, aimed at reviving an economy battered by. . .  Full story

Turkish suspect tells court Ghosn mused on Hollywood movie of escape from Japan

03/07 A Turkish jet executive on trial over Carlos Ghosn's dramatic escape from Japan told a court on Friday that the former Nissan boss spoke about Hollywood making a movie of his getaway as he. . .  Full story

Angola resists OPEC pressure to comply fully with oil cuts- sources

03/07 Angola is resisting pressure by OPEC for a steeper oil output cut to comply fully with record supply curbs, OPEC and industry sources said.. . .  Full story

S.Korea's parliament approves third extra budget, of 35.1 trln won

03/07 South Korea's parliament on Friday approved a supplementary budget of 35.1 trillion won ($29.3 billion) to fight the economic fallout from the coronavirus pandemic.. . .  Full story

Thailand expects $39.5 billion in tourism revenue in 2020

03/07 Thailand expects to generate 1.23 trillion baht ($39.5 billion) in tourism revenue this year, mainly driven by local holiday makers, the tourism minister said on Friday, after a drop in international tourism due to. . .  Full story

Asia Distillates-Gasoil cracks mark weekly gain as demand improves

03/07 Asian refining margins for 10 ppm gasoil inched lower on Friday, but marked a weekly gain of nearly 2% as demand for the industrial and transport fuel gradually picks up pace with countries. . .  Full story

Indian shares close near 4-month highs as Reliance boosts

03/07 Indian shares ended at near four-month highs on Friday, boosted by Reliance Industries Ltd after Intel Corp agreed to invest in the Asian conglomerate's digital unit, although a record spike in domestic COVID-19 cases curbed. . .  Full story

Japan picks four more 'promising areas' for offshore wind power

03/07 Japan's industry ministry said on Friday it has identified 10 areas as potentially suitable for development of offshore wind farms, four of which were designated "promising areas", as it started a second round of the. . .  Full story

Philippine broadband firm Converge ICT files for up to $725 mln IPO

03/07 Philippine fiber broadband services provider Converge ICT Solutions Inc, on Friday filed for an initial public offering (IPO) of up to 35.92 billion pesos ($725 million) on the local bourse, braving volatile markets amid the. . .  Full story

Indian video-sharing apps surge in popularity on TikTok ban

03/07 Indian tech and entertainment firms are looking to capitalise on sudden opportunities arising from a government ban on Chinese owned apps, including the wildly popular TikTok, with one rival video app saying it. . .  Full story

Asia Gold-Physical demand in China, India continues to wane as virus weighs

03/07 Physical gold demand in top consumers China and India continued to struggle due to the COVID-19 pandemic this week, while investment activity ticked up in Singapore and Japan.. . .  Full story

Indonesia's anti-trust watchdog levies $3 mln in fines on Grab and partner

03/07 Indonesia's anti-trust watchdog announced fines totalling more than $3 million for Grab and its business partner after finding it guilty of breaking anti-monopoly laws, a verdict the ride-hailing firm vowed to appeal.. . .  Full story

Vedanta's Zambia copper unit warns part of Nchanga open-pit mine about to collapse

03/07 Zambia's Konkola Copper Mines (KCM), a unit of diversified miner Vedanta Resources, has closed part of its open-pit mine as a portion of the pit is about to collapse, the chief. . .  Full story

HK stocks notch best week in 4 as investors embrace new security law

03/07 Hong Kong stocks ended higher on Friday to post their best weekly gain in one month, as investors reckoned that Beijing's new security law will benefit local markets and lead to more listings by. . .  Full story

Japan curbed bond issuance last fiscal year even as pandemic hit tax revenue

03/07 Japan's government's bond issuance was 500 billion yen less than earlier planned in the fiscal year that ended on March 31, the Ministry of Finance said on Friday, after closing the books on the. . .  Full story

Marine fuel market facing tougher Q3 as supply rises

03/07 Global supply of fuel oil, used by ships and power plants, is expected to grow in the third quarter, depressing the marine fuel market as shipping demand remains weak, analysts and trade sources said.. . .  Full story

Milestones and markers flash bullish signals for Chinese stocks

03/07 Surging volumes, massive margin borrowings and a deluge of foreign money this week in China's stock markets are pointing to another sizable run-up in share prices in the second half of 2020.. . .  Full story

Taiwan June exports seen down 3%, inflation -0.87%

03/07 Taiwan's exports in June are likely to have dropped 3%, compared with a year earlier, as the COVID-19 pandemic continues to hit global demand for the island's electronics exports, a median forecast of 13. . .  Full story

China's blue-chip index hits five-year high on hopes of recovery, stimulus

03/07 China stocks rose for a fourth straight session on Friday, with the blue-chip index scaling a five-year high on hopes of recovery in the world's second largest economy as Beijing rolled out more stimulus.. . .  Full story

Japan's GPIF posts record quarterly loss of $165 bln as virus hits stocks

03/07 Japan's Government Pension Investment Fund (GPIF), the world's largest pension fund, on Friday reported a record quarterly loss of 17.71 trillion yen ($164.74 billion) in January-March after global stock markets plunged during the COVID-19 pandemic.. . .  Full story

Japan shares rise on upbeat US jobs data; virus spike in Tokyo checks gains

03/07 Japanese stocks ended higher on Friday as strong U.S. jobs data provided assurance that recovery in the world's largest economy was well under way, though investors remained cautious as Tokyo reported a spike in COVID-19. . .  Full story

JGBs gain as spike in coronavirus cases boosts safe-haven demand

03/07 Japanese government bond prices rose on Friday as a spike in new coronavirus cases increased the appeal of the safe-haven debt.. . .  Full story

Japan's May household spending, machinery orders seen falling as virus hits

03/07 Japan's household spending and machinery orders likely extended declines in May, providing further evidence that the coronavirus crisis is hurting the economy.. . .  Full story

Oman seeks $2 billion bridge loan, says source confirming LPC

03/07 Oman is seeking a $2 billion bridge loan from international and regional banks, a source familiar with the matter said on Friday, confirming a report by LPC, a fixed income news service owned by. . .  Full story

Japan FSA head Endo says banks' priority now is to support borrowers

03/07 Japan's Financial Services Agency head, Toshihide Endo, said on Friday the priority for the country's private financial institutions now was to give firms some "breathing space" by supporting their funding.. . .  Full story

Thai June headline CPI falls 1.57% y/y, less than forecast

03/07 Thailand's headline consumer price index (CPI) in June dropped at a slower pace of 1.57% from a year earlier, following the end of a government utilities subsidy to ease the impact of the. . .  Full story

Malaysia's seen cutting key rate again as pandemic persists

03/07 Malaysia's central bank is expected to cut interest rates to a historic low next week, according to a slim majority in a Reuters poll, as it seeks to protect Southeast Asia's third largest economy. . .  Full story

China's services sector grows at fastest pace in over a decade in June - Caixin PMI

03/07 China's services sector expanded at the fastest pace in over a decade in June as the easing of coronavirus-related lockdown measures revived consumer demand, a private survey showed on Friday, though companies continued to shed. . .  Full story

China stocks extend rally on upbeat survey; Hong Kong up

03/07 China stocks rose for a fourth straight session on Friday, on course for its best week since March last year, as an upbeat survey showed expansion in the country's services sector.. . .  Full story

India's services activity stayed in deep contraction in June - PMI

03/07 India's crippled services industry, the lifeblood of economic growth and jobs, contracted sharply in June as an extended lockdown imposed to stop the spread of the coronavirus stalled business activity, a private sector survey showed.. . .  Full story

China-backed AIIB to lend $500 mln to two Turkish development banks

03/07 The Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it would lend $500 million to two development banks in Turkey, to help ease liquidity issues caused by the COVID-19 pandemic.. . .  Full story

Nikkei inches up; investors cautious as domestic COVID-19 cases spike

03/07 Japanese shares edged up on Friday as U.S. jobs data provided assurance that recovery in the world's largest economy was well under way, though investors maintained a cautious stance a day after Tokyo reported. . .  Full story

Asia Rice-Thai rates slip as demand drops, rains hamper Vietnamese harvest

03/07 Thai rice export prices fell to the lowest in a month this week as demand sagged, while Vietnamese rates rose as persistent rain continued to hamper the harvest.. . .  Full story

China makes biggest weekly cash drain via OMO since Feb

03/07 China's central bank skipped open market operations on Friday, making the biggest weekly net fund drain in 4-1/2 months.. . .  Full story

Japan's service sector slump eases as pandemic curbs lift - PMI

03/07 Japan's services sector extended activity declines for a fifth straight month in June, although the pace of contraction slowed significantly after a nationwide state of emergency was lifted, easing disruptions to businesses.. . .  Full story

Japan's Sharp Corp may move up Dynabook PC unit IPO -Nikkei

02/07 Japan's Sharp Corp has indicated that its laptop making unit may go public this year instead of 2021, the Nikkei Asian Review reported on Thursday.. . .  Full story

Citic Securities, China Securities dismiss report of merger plan

02/07 China's largest broker Citic Securities Co Ltd and smaller rival China Securities Co Ltd (CSC) said on Thursday they were not aware of any information about a merger plan, following a media report they had. . .  Full story

Emerging market debt rush set to run despite Ukraine U-turn

02/07 A flourishing first half for emerging market debt issuance is expected to continue, with worries among some investors about a risk of oversupply eased by Ukraine's cancellation of a $1.75 billion Eurobond.. . .  Full story