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BANGKOK, July 20 (Reuters) - Chinese automakers dominated Southeast Asia's fast-growing electric vehicle market, selling three out of every four EVs in the first quarter, research firm Counterpoint Research said on Thursday. Thailand - the main regional auto manufacturing hub - is driving the transition, with the country accounting for almost 79% of all EVs sold in Southeast Asia in the first quarter, Counterpoint said. "Chinese auto groups are experiencing rapid growth and outpacing their competitors in the SEA (Southeast Asia) region, with their market share increasing from 38% a year ago to nearly 75%," Counterpoint analyst Abhilash Gupta said. With Chinese EV offerings expanding, Counterpoint said the share of EVs as a percent of total vehicle sales in Southeast Asia could reach 6% by the end of 2023. Indonesia, Thailand and Malaysia are the largest auto markets in Southeast Asia.

Persons: Abhilash Gupta, Devjyot Ghoshal, Emma Rumney Organizations: Research, Great Wall, Chinese EV, SEA, Hozon New Energy Automobile, Thomson Locations: BANGKOK, Thailand, Southeast Asia, Chinese, Asia, Indonesia, Malaysia, Vietnam, Philippines, Singapore, Myanmar

☆ Asia stocks split as US-China outlooks diverge
▼ + stars: | 2023-07-19 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Overnight the S&P 500 (.SPX) rose 0.7% to hit a three-month high, with results propelling bank shares. Morgan Stanley (MS.N), Bank of America (BAC.N) and Bank of New York Mellon (BK.N) shares rose sharply on strong results and an upbeat outlook overnight. Microsoft (MSFT.O) shares rose 4% - adding $100 billion in market value - after announcing charges for artificial intelligence features in its office software. British inflation data due at 0600 GMT is the next major calendar item and traders are expecting a fall to a still-uncomfortable 8.2% annual pace. "While annual headline inflation fell sharply, which is helpful for inflation expectations, the details suggest persistence in non-tradables inflation."

Persons: Seng, SYDNEY, Dovish, Tapas Strickland, Morgan Stanley, Klaas Knot, Brian Daingerfield, Treasuries, Brent, Lincoln Organizations: Companies, Microsoft, U.S, European Central Bank, New Zealand, Japan's Nikkei, Headline U.S, National Australia Bank, Bank of America, Bank of New York Mellon, NatWest Markets, Bank of, Fed, ECB, ANZ, Thomson Locations: China, Japan, Australia, Asia, Pacific, Hong Kong, South Korea, Sydney, Atlanta, U.S, Europe, New York, New Zealand, Bank of England

One senior Taiwan fund manger told Reuters that third quarter profit would bounce back given expectations for AI demand and launches of new iPhones ahead of the year-end holiday shopping season. The second quarter is traditionally a slow period for sales for the tech industry with demand usually picking up in the third quarter and towards the year-end shopping season. TSMC , Asia's most valuable listed company, posted a surprise rise in net profit for the quarter ended March, up 2% from a year earlier. The company will provide guidance for the third quarter and update previous forecasts on its earnings call at 0600 GMT on Thursday. ($1 = 30.9600 Taiwan dollars)Reporting by Faith Hung and Ben Blanchard Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: TSMC, TSMC's, Faith Hung, Ben Blanchard, Shri Navaratnam Organizations: TAIPEI, Taiwan Semiconductor Manufacturing Co, Nvidia, Reuters, Investment, EV, Thomson Locations: Taiwan, China, Taipei

☆ Putin wanted his own version of NATO. Instead he has a failing alliance that has only made him look weaker since the invasion of Ukraine.
▼ + stars: | 2023-07-18 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +14 min

Putin wanted his own version of NATOPutin has long viewed NATO as a threat to Russia, even citing it as an excuse for his invasion of Ukraine. Russian President Vladimir Putin. He also said that CSTO members states' desires for closer ties with the US weren't new. Russian President Vladimir Putin in Armenia in November 2022. Graham also said the invasion of Ukraine meant Putin is less and less able to deal with CSTO members' complaints.

Persons: it's, Putin, Vladimir Putin, Thomas Graham, NATO Putin, Alexander Cooley, Cooley, Armenia's, Nikol Pashinyan, KAREN MINASYAN, Putin's, isn't Putin, Ilya PITALEV, ILYA PITALEV, Getty Images Graham, Russia's, ANATOLII STEPANOV, you've, Graham, CSTO, Sadyr Japarov, Stanislav Zas, Alexander Lukashenko, Kassym, Tokayev, AP Cooley, – Putin, Vladimir Voronin, Nikol, They've, Hayk Organizations: NATO, Service, Soviet Union, Security, Organization, Yale, Columbia University, REUTERS, Getty Images, SPUTNIK, AFP, CSTO, Kazakh, Russian Defense Ministry Press Service, AP, Collective Security, Vladimir Voronin NATO, Putin, Russian Foreign Ministry Press Service, UN, US, EU, Armenian Locations: Russia, Russian, Ukraine, Wall, Silicon, Soviet, East, Armenia, Kazakhstan, Belarus, Kyrgyzstan, Tajikistan, Azerbaijan, Georgia, Uzbekistan, The Hague, Netherlands, Yerevan, AFP, Soviet Union, Moscow, Asia, Ukrainian, Oskol, Ukraine's Kharkiv, NATO, USSR, Dushanbe, tatters, Photolure, China, Turkey, United States

[1/2] Supporters of the ruling People's Action Party (PAP) wait for their candidates at a nomination center ahead of the general elections in Singapore September 1, 2015. Analysts said the events may not bode well for the PAP, which has ruled Singapore uninterrupted since 1959. "These events appear to have created some public speculation about the PAP's approach to privilege, restraint, and authority," said National University of Singapore political scientist Chong Ja Ian. Prime minister-in-waiting Lawrence Wong said the government would be forthcoming about the corruption case - even if the information was damaging or embarrassing. But political scientist Walid Jumblatt Abdullah at Nanyang Technological University said Lee had enough political goodwill to ride this out.

Persons: Edgar Su, bode, Lee Hsien, Singapore's, Lee Kuan Yew, Chong Ja Ian, Lee, Lawrence Wong, Iswaran, Chong, Lee's, Walid Jumblatt Abdullah, Gillian Koh, Walid, Wong, Xinghui Kok, Robert Birsel Organizations: Action Party, REUTERS, National University of Singapore, Transport, Nanyang Technological University, Institute of Policy, Thomson Locations: Singapore, SINGAPORE

☆ Oil slides more than 1% as Chinese GDP dents demand hopes
▼ + stars: | 2023-07-17 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

"The GDP came in below expectations, so will do little to ease concerns over the Chinese economy," said Warren Patterson, ING's head of commodities research. "China data was always looked forward to with a degree of hope; well, for bulls anyway," John Evans of oil broker PVM said in a report. Oil briefly rose after a Reuters news alert on Saudi Arabia extending a voluntary output cut. Oil also came under pressure on Monday from the resumption of output at two of the three Libyan fields that were shut last week. Reporting by Alex Lawler Additional reporting by Florence Tan and Mohi Narayan Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Warren Patterson, ING's, Brent, John Evans, PVM, Oil, Alex Lawler, Florence Tan, Mohi Narayan, David Goodman Organizations: . West Texas, Thomson Locations: China, Saudi Arabia, Libya, Nigeria, Moscow

☆ UBS just updated its 'highest conviction' stock list with picks to beat the market
▼ + stars: | 2023-07-17 | by ( Lucy Handley | ) www.cnbc.com time to read: +3 min

In a list of "23 for '23" picks, UBS included Baidu , Grab , Merck , Salesforce , Li Ning and Siemens . It updated its stock selection, adding Yum Brands and MGM Resorts International to the list last month, and removing AbbVie and Corteva . Our 23 for '23 theme showcases our highest conviction stock ideas that aim to benefit from these inflections," stated the authors of the UBS report, led by Nadia Lovell. UBS added MGM Resorts International to its picks, with analysts "encouraged by the continued strength in Las Vegas and a healthy outlook for MGM." Manufacturing and technology company Siemens made the UBS list for being "at the forefront of the Industrial Internet of Things (IIoT) transformation."

Persons: Li Ning, Nadia Lovell, Salesforce, Taco, — CNBC's Michael Bloom Organizations: UBS, Baidu, Merck, Salesforce, Siemens, Yum Brands, MGM Resorts International, MGM, Software, Manufacturing, Industrial, Taco Bell Locations: Swiss, Las Vegas

[1/2] A response by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. The EU and its member states have dispatched officials for talks on governing the use of AI with at least 10 Asian countries including India, Japan, South Korea, Singapore and the Philippines, they said. Officials from Singapore and the Philippines expressed concern that moving overly hasty regulation might stifle AI innovation. Seoul will continue discussing AI regulation with the EU but is more interested in what the G7 is doing, a South Korean official said following a meeting with Breton. The EU is planning to use the upcoming G20 meetings to further push for global collaboration on AI, notably with 2023 president India, van Huffelen told Reuters.

Persons: Florence, Alexandra van Huffelen, van Huffelen, Thierry Breton, Breton, Fanny Potkin, Sam Nussey, Supantha Mukherjee, Joyce Lee, Tomasz Janowski Organizations: REUTERS, European, EU, Reuters, Officials, General Data, European Union, South Korean, Thomson Locations: Florence Lo, SINGAPORE, TOKYO, STOCKHOLM, Asia, India, Japan, South Korea, Singapore, Philippines, Canada, Turkey, Israel, EU, France, Germany, Italy, Britain, United States, Hiroshima, Seoul

[1/2] A response by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. The EU and its member states have dispatched officials for talks on governing the use of AI with at least 10 Asian countries including India, Japan, South Korea, Singapore and the Philippines, they said. The officials asked not be named as the discussions, whose extent has not been previously reported, remained confidential. Officials from Singapore and the Philippines expressed concern that moving overly hasty regulation might stifle AI innovation. Seoul will continue discussing AI regulation with the EU but is more interested in what the G7 is doing, a South Korean official said following a meeting with Breton.

SINGAPORE, July 17 (Reuters) - Two senior lawmakers from Singapore's ruling party have resigned over their "inappropriate relationship", Prime Minister Lee Hsien Loong said on Monday, the latest high-profile scandal in a city-state otherwise known for its political stability. Resignations of senior PAP members are rare in Singapore, where the party has been in power since 1959, before the country's independence in 1965. Separately, the opposition Workers' Party (WP) said on Monday it was looking into an "inappropriate exchange" between two of its senior members after a video surfaced online that appeared to show them holding hands in a restaurant. Events like these are unusual in Singapore, which prides itself on being corruption-free and holding politicians to high moral standards. Political scientist Chong Ja Ian at the National University of Singapore said Monday's developments were "relatively controllable issues" that would not affect Singapore's political stability.

Persons: Lee Hsien Loong, Lee, Tan Chuan, Jin, Cheng Li Hui, Cheng, Ong Beng Seng, Chong Ja Ian, Chong, Chen Lin, Martin Petty, Kanupriya Kapoor Organizations: Action Party, Workers ' Party, WP, National University of Singapore, Thomson Locations: SINGAPORE, Singapore

☆ Welcome to the Dollar War: a Global Fight Over America's Economic Dominance
▼ + stars: | 2023-07-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +17 min

The US even reminded everyone just how influential the buck is when it effectively froze Russia out of the global financial system with sanctions last year. Becoming the issuer of the global reserve currency is about trust. The US has controlled the global reserve currency for 102 years — giving it a special status in the world economy. Still, given that the country controlling the global reserve currency holds that status of an average of 94 years, history seems to indicate it's high time for a successor. Why shouldn't the financial world resemble something closer to the mosaic of cultures, politics, and nations that exists today?

Persons: Chenzi Xu, there's, Xu, —, Ron Temple, Gregory Brew, Eurasia's Brew, dollarizing, Stephen Jen, Jen, we've, Stanford's Xu, Luiz Inácio Lula da Silva, Josh Lipsky, " Lipsky, It's, Alexander Wise, Jan Loeys, Loeys, dollarization, Wise, Lazard's Temple, isn't, Phil Rosen Organizations: Stanford, Federal, European Central Bank, People's Bank of China, Lazard, Publishing, Getty Images, International Monetary Fund, Bank of International Settlements, Eurasia Group, Sandman's, Eurizon, IMF, Atlantic Council, JPMorgan Locations: Russia, Israel, France, China, America, Saudi Arabia, Brazil, India, Pakistan, Bolivia, Iraq, South Africa, Beijing

☆ Thailand's royalists foiled Harvard grad Pita Limjaroenrat's first attempt at becoming prime minister. Here's what happens now
▼ + stars: | 2023-07-14 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Thailand's Pita Limjaroenrat may get another shot at the country's prime minister job next week. But his path to potential power remains unclear, especially if the leader of the country's Move Forward Party does not budge from his election pledge to amend a law that prohibits criticism of the monarchy. Limjaroenrat fell 51 votes short of the majority he needed from the 749 members of Thailand's bicameral National Assembly for the top job in a first parliamentary vote on Thursday. Forty-two-year-old Pita, who attended Harvard Kennedy School, will be able to stand for prime minister if nominated again by his eight-party alliance. Otherwise, Pheu Thai — the second-largest party in the eight-party coalition with Move Forward — may also put forward its own candidate from among the three candidates the party had earlier surfaced.

Persons: Thailand's Pita Limjaroenrat, Limjaroenrat, Grace Lim, Pita, Paetongtarn Shinawatra, Thaksin Shinawatra, Srettha Thavisin, Chaikasem Nitisiri Organizations: National Assembly, Senate, Moody's Investors, Harvard Kennedy School Locations: Southeast Asia's

[1/7] Indonesian President Joko Widodo greets Cambodia's Foreign Minister Prak Sokhonn during the Courtesy Call at the Association of Southeast Asian Nations (ASEAN) Foreign Ministers' Meeting in Jakarta, Indonesia, July 14, 2023. REUTERS/Ajeng Dinar Ulfiana/PoolJAKARTA, July 14 (Reuters) - Foreign ministers of two dozen countries meet in Indonesia on Friday with U.S.-China rivalry, the war in Ukraine and North Korean missiles set to dominate roundtable talks in Southeast Asia's annual security gathering. In opening remarks to foreign ministers from the Association of Southeast Asian Nations (ASEAN), chairman Indonesian President Joko Widodo said the gathering aimed to seek solutions rather than exacerbate regional and global problems. LAVROV: WESTERN 'DOMINATION'The 10-member ASEAN hosts an East Asia Summit on Friday morning before holding a separate meeting with Blinken. China's Wang also met with Lavrov, and said the two sides would "strengthen strategic communication and coordination".

Persons: Joko Widodo, Prak Sokhonn, Antony Blinken, Wang Yi, Nancy Pelosi, Matthew Miller, Wang, Blinken, Sergei Lavrov, China's Wang, Lavrov, Myanmar's, Martin Petty, Michael Perry Organizations: Cambodia's, Association of Southeast Asian Nations, REUTERS, U.S, North Korean, Friday's ASEAN Regional Forum, ASEAN, State Department, ARF, enraging, Washington, Department, U.S . Navy, East Asia Summit, United Nations Security Council, Russian, Thomson Locations: Jakarta, Indonesia, JAKARTA, China, Ukraine, North, United States, Russia, Taiwan, enraging Beijing, LAVROV, Australia, Japan, Britain, South Korea, Myanmar

☆ Morning Bid: Relief over US inflation keeps Asia upbeat
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] A woman shops for groceries at El Progreso Market in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. Indeed, Friday's rise in the yen put it within striking distance of its converging 100-day and 200-day moving averages near 137.00 to the dollar. The Reserve Bank of Australia was also in the spotlight in Asia, with the much-anticipated announcement of its next governor. The rest of the day is light on economic data with euro zone May trade, U.S. export and import prices and University of Michigan consumer sentiment the main releases. But it's a bumper day for bank earnings as JPMorgan Chase (JPM.N), Citigroup (C.N), Wells Fargo (WFC.N) and BlackRock (BLK.N) are all due to report second-quarter results.

Persons: Sarah Silbiger, Sonali Desai, Michele Bullock, JPMorgan Chase, Luis de Guindos, Edmund Klamann Organizations: El Progreso Market, Washington , D.C, REUTERS, Treasury, Bank of, People's Bank of China, The Reserve Bank of Australia, University of Michigan, JPMorgan, Citigroup, BlackRock, Hollywood, Central Bank, JPMorgan Chase, Thomson Locations: Mount Pleasant, Washington ,, Asia, Japan Asia, U.S, Wells Fargo, Brussels U.S

REUTERS/Mukesh Gupta/File PhotoNEW DELHI, July 14 (Reuters) - India will not impose countervailing duty (CVD) on select steel products imported from China despite a recommendation from trade officials and lobbying from local steel manufacturers, a government source told Reuters. The decision by the finance ministry aims to protect steel consuming firms from higher prices even though it could hurt local steel manufacturers, the source said. In April DGTR - which is India's trade ministry's arm that investigates unfair trade practices - recommended CVD on some stainless steel flat products. The finance ministry has rejected the recommendation despite steel purchases from China touching a six-year high in April-May period, with imports rising 62%. India's finance and trade ministry did not immediately reply to emails sent after office hours.

Persons: Mukesh Gupta, Nikunj Ohri, Conor Humphries Organizations: REUTERS, Trade, Reuters, Trade Organisation, Jindal Stainless Ltd, Steel Authority of India, Thomson Locations: Jammu, DELHI, India, China

[1/8] Move Forward Party Leader Pita Limjaroenrat poses for a picture on the day of voting for a new prime minister at the parliament, in Bangkok, Thailand, July 13, 2023. One senator resigned on Wednesday, lowering the threshold to 375 votes to become prime minister. "I'm confident that I will do my best to match the hopes and encouragement from the people," Pita told reporters. Political uncertainty has pulled Thailand's main stock index (.SETI) down about 11% so far this year. More turbulence can be expected if Pita cannot prevail in the vote given Move Forward's massive support from young voters and its popularity in the capital.

Persons: Pita Limjaroenrat, Pita, Pheu, ThaiRath, Panarat Thepgumpanat, Panu, Martin Petty, Lincoln, Kanupriya Kapoor Organizations: REUTERS, Senate, Thai, Constitutional, Thomson Locations: Bangkok, Thailand, BANGKOK, Southeast Asia's

☆ China-led electronic vehicle boom in Thailand threatens Japan's grip on key market
▼ + stars: | 2023-07-10 | by ( ) www.cnbc.com time to read: +2 min

A visitor plugs a charger into an electric vehicle on display at the 44th Bangkok International Motor Show in Bangkok on March 22, 2023. Siam Motors is in talks with several Chinese automakers about potential partnerships, particularly for high-end electric vehicles, vice president Sebastien Dupuy said in an interview, referring to previously unreported discussions. Thailand is Southeast Asia's largest car producer and exporter, and its second-largest sales market after Indonesia. Japanese automakers are so dominant that for decades they have treated it almost as an extension of their home market. Thailand's transition offers a test case for other economies as Chinese automakers ramp up exports and build overseas production hubs, partly in response to a hypercompetitive home market for electric cars.

Persons: Sebastien Dupuy, BYD Organizations: Thailand's Siam Motors, Nissan Motors, Siam Motors, EV Locations: Bangkok, Siam, Thailand, China, Thai, Southeast, Indonesia, Japan, Europe

☆ Exclusive: South Korea asks banks to prepare $4 bln to support credit union - sources
▼ + stars: | 2023-07-10 | by ( Seunggyu Lim | ) www.reuters.com time to read: +3 min

An official at the Financial Services Commission confirmed that banks had been asked to prepare liquidity through repurchase-agreement facilities to aid MG Community Credit Cooperatives, but did not comment on the amount. Depositors were lining up last week to withdraw funds from a branch of MG Community Credit Cooperatives after local media reported a rise in non-performing loans tied to real estate projects. Woori Bank, Hana Bank, Shinhan Bank, KB Kookmin Bank and NongHyup Bank had been asked to make financing available to MG Community Credit, although the actual amount extended to the credit union would depend on deposit withdrawals, the sources said. The sources added that each of the banks was asked to prepare 1 trillion won of financing, or 5 trillion won in total ($3.84 billion), as potential support. MG Community and the five banks did not immediately respond to requests for comment.

Persons: Kim Jin, 1,302.7800, Seunggyu Lim, Jihoon Lee, Ed Davies, Edmund Klamann Organizations: Financial Services Commission, Community Credit Cooperatives, MG Community Credit Cooperatives, Woori Bank, Hana Bank, Shinhan Bank, KB Kookmin Bank, NongHyup Bank, MG Community Credit, MG Community, Community, Interior Ministry, Bank of, Ministry of Finance, Citi, Jungdo, Thomson Locations: SEOUL, Namyangju, Seoul, Bank of Korea, Gangwon

☆ Myanmar crisis, South China Sea tensions loom over ASEAN meet
▼ + stars: | 2023-07-10 | by ( Kate Lamb | ) www.reuters.com time to read: +2 min

JAKARTA, July 11 (Reuters) - Southeast Asia's top diplomats will gather in Indonesia on Tuesday amid pressure to address a bloody political crisis in Myanmar and resolve tensions in the South China Sea where some ASEAN members have overlapping territorial claims with China. The meeting of foreign ministers of the Association of Southeast Asian Nations (ASEAN) comes as doubts mount over the credibility and unity of the bloc in dealing with the region's thorniest challenges. Indonesia is also seeking during this week's forum to accelerate talks on a long-stalled code of conduct on the South China Sea. More than $3 trillion in trade passes through the South China Sea each year, and overlapping territorial claims by China and the Philippines, Vietnam, Malaysia, and Brunei have led to a spate of confrontations. ASEAN will also hold the East Asia Summit and the ASEAN Regional Forum later this week, with U.S. Secretary of State Antony Blinken and Russia's Foreign Minister Sergei Lavrov both slated to attend.

Persons: Human Rights Volker Turk, Retno Marsudi, Antony Blinken, Sergei Lavrov, Stanley Widianto, Kanupriya Kapoor Organizations: ASEAN, Association of Southeast Asian Nations, United, United Nations, Human Rights, . Security, International Criminal Court, East Asia Summit, ASEAN Regional Forum, U.S, Russia's, Thomson Locations: JAKARTA, Indonesia, Myanmar, South China, China, ASEAN, United Nations, Jakarta, Philippines, Vietnam, Malaysia, Brunei

The military has for decades invoked its duty to defend the monarchy to justify intervention in politics, and used the lese majeste law to stifle dissent, critics say. Much depends on whether Move Forward's main ally, second-place winner Pheu Thai, sticks with it or seeks other coalition partners if Pita's bid looks doomed. King Vajiralongkorn, 70, who has no role in choosing a government, has remained silent on the lese majeste issue since the election. In the last election in 2019, no party would have dared suggest amending the lese majeste law. Pheu Thai, which has 141 seats to Move Forward's 151, could nominate its prime ministerial candidate with the eight-party alliance intact.

Persons: Maha Vajiralongkorn, Suthida, Pita Limjaroenrat, Pita, Seri Suwanpanon, King Maha Vajiralongkorn, Prayuth Chan, Pheu, King Vajiralongkorn, Thitinan Pongsudhirak, Thaksin Shinawatra, Titipol Phakdeewanich, Amarat Chokepamitkul, Panu, Kay Johnson, Robert Birsel Organizations: REUTERS, Reuters, Royal News, Thai Lawyers for Human Rights, Bangkok's Chulalongkorn University, Senate, Ubon Ratchathani University, Royal Household Bureau, Thomson Locations: Bangkok, Thailand, Thai, Handout, BANGKOK, Pheu

☆ Chinese electric vehicle investment plans in Thailand
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +4 min

July 10 (Reuters) - Chinese electric vehicle manufacturers are pouring into Thailand, having committed to invest $1.44 billion in production facilities in Southeast Asia's biggest automaking hub that has long been dominated by Japanese companies. IN THE PIPELINESeveral deals are also in the pipeline, according to the Thailand Board of Investment (BOI), which has been pursuing Chinese automakers. Chongqing Changan, GAC and Chery did not respond to requests for comment on their plans for Thailand. RISING POPULARITYThe influx of Chinese models appears to be helping to boost the popularity of EVs in Thailand, the second-largest car market in Southeast Asia. On Toyota's (7203.T) Thailand website, the Corolla Altis is priced at 894,000 baht and the Yaris Ativ at 549,000 baht.

Persons: China's, Thailand's, BOI, Geely, Wall's Ora, Devjyot, Jamie Freed Organizations: Asia's, General Motors, EV, Electronics, Auto, SAIC, Charoen, New Energy, Assembly, of Investment, State, Chongqing Changan Automobile, Ford, Mazda, Guangzhou Automobile Group, China's Chery, Chongqing Changan, GAC, Chery, Reuters, Corolla, Thomson Locations: Thailand, EVs, Southeast Asia, Europe, Chongqing, China, BOI, Bangkok

[1/2] The BYD Atto 3 EV car is displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. Siam Motors is in talks with several Chinese automakers about potential partnerships, particularly for high-end electric vehicles, vice president Sebastien Dupuy said in an interview, referring to previously unreported discussions. Thailand is Southeast Asia's largest car producer and exporter, and its second-largest sales market after Indonesia. Japanese automakers are so dominant that for decades they have treated it almost as an extension of their home market. Thailand's pitch to Chinese EV makers has been its existing supply base – built largely for Japanese automakers – and readiness to provide incentives.

Persons: Athit, Sebastien Dupuy, Pasit Chantharojwong, Wall's Ora, Tesla, Isuzu, Hajime Yamamoto, Yamamoto, Goldman Sachs, General Narit Therdsteerasukdi, Narong Sritalayon, BEV, Chayut, Daniel Leussink, Kevin Krolicki, Jamie Freed Organizations: REUTERS, Siam Motors, Nissan Motors, EV, Reuters Graphics CHINA, JAPAN, Toyota Corolla, China's SAIC, Toyota, Honda, Nomura Research, Reuters, Thailand's, of Investment, Wall, Thomson Locations: Thailand, Bangkok, Thailand BANGKOK, Siam, BYD, China, Thai, Southeast, Indonesia, Japan, Europe, JAPAN Bangkok, Tokyo

AIX-EN-PROVENCE, France, July 8 (Reuters) - A "Chinese storm" is looming over Europe's growing electric vehicle (EV) sector, Renault Chairman Jean-Dominique Senard told Reuters on Saturday, as Asia's superpower dominates key raw materials to make batteries for zero emission cars. "When I talk about a Chinese storm, I'm talking about the strong pressure today related to Chinese (electric) vehicle imports into Europe," Senard said. China's export restrictions are escalating a technology war with the United States, potentially causing more disruption to global supply chains. The development of alternative fuels - such as synthetic e-fuels and hydrogen - would be crucial in the event of a sudden shortage of batteries due to a dearth of raw materials, Senard said. Reporting by Mathieu Rosemain; Additional reporting by Gilles Guillaume Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Jean, Dominique Senard, Senard, Mathieu Rosemain, Gilles Guillaume, Mark Potter Organizations: Renault, Reuters, Thomson Locations: PROVENCE, France, China, Europe, United States

SINGAPORE, July 7 (Reuters) - After standing in line for 36 hours, Qayyum Lukman on Friday emerged triumphant from a kiosk where he had just scored tickets to see pop sensation Taylor Swift perform in Singapore, her only stop in Southeast Asia next year. I don’t know what to think, indescribable, I’m very happy I got tickets! Indonesian Friski Riana, 31, joined virtual queues of millions of fans, even borrowing her friend's credit card to try and get tickets. [1/5]Qayyum Lukman, 25, full-time national servicemen, poses with a Taylor Swift vinyl album, as he waits first in line to buy Taylor Swift concert tickets, at a post office in Singapore July 7, 2023. Hours after the pre-sale closed, touts were marking up S$358 ($264.73) tickets to at least S$1,000 on marketplace app Carousell.

Persons: Qayyum Lukman, Taylor Swift, Swift, Lukman, I’m, ”, couldn't, Edgar Su, Friski, Thailand's, Pita Limjareonrat, Lavender, Chayut, Ananda, Kanupriya Kapoor, Simon Cameron, Moore Organizations: REUTERS, Coldplay, Business Times, Twitter, Thomson Locations: SINGAPORE, Singapore, Southeast Asia, Thailand, Malaysia, Indonesia, Vietnam, British, Jakarta, Bangkok, Manila, Kuala Lumpur, Ananda Teresia

☆ Southeast Asia's IPO market is an investor favorite amid global headwinds, Deloitte says
▼ + stars: | 2023-07-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

Firdaus Wajidi | Anadolu Agency | Getty ImagesSoutheast Asia's initial public offering market is showing promising signs despite a global IPO slowdown in the first half of 2023, according to a new Deloitte report. In the last six months, Southeast Asia's market saw 85 IPOs raising $3.3 billion in proceeds, versus the 73 IPOs in the same period last year which raised $3.1 billion. That's a 16% increase in the number of IPOs and a 5% increase in proceeds for the first half of 2023. Indonesia's rising starIndonesia raised 70% of the total IPO proceeds in Southeast Asia for the first half of 2023. Indonesia "looks set to have its best year ever in terms of listing proceeds with 44 IPOs in 2023 H1," said Deloitte.

Persons: Firdaus, — GoTo, Joko Widodo, Harita Nickel Organizations: Anadolu Agency, Getty, Deloitte, Nasdaq, EV, PT Merdeka Battery Materials, Pertamina Geothermal, Indonesia, Harita Locations: JAKARTA, INDONESIA, Jakarta, Indonesia, Southeast Asia, Australia, Thailand, Malaysia, China

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