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Photo taken on January 21, 2024 shows a real estate project under construction in Huai 'an city, Jiangsu province, China. Asia-Pacific markets rebounded from Friday's sell-off as investors look to fresh data points out of China, Japan and South Korea this week. On Friday, markets in the region tumbled after Israel launched a strike at Iran, causing stocks to fall and safe-haven assets to climb. On Monday, investors will monitor China's one-year and five-year loan prime rates. The five-year LPR will be closely watched, as it acts as the peg for most property mortgages.

Persons: Huai Organizations: Israel Locations: Jiangsu province, China, Asia, Pacific, Japan, South Korea, Iran

☆ Japan and South Korea could coordinate currency intervention, but they may need U.S. support
▼ + stars: | 2024-04-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

SeongJoon Cho | Bloomberg via Getty ImagesInvestors have been monitoring for potential intervention in the Japanese yen, but recent comments have triggered discussion about "coordinated intervention" with South Korea. The currency has struggled, slipping past 150, since the Bank of Japan raised rates in March. Following that volatility, the U.S. last week acknowledged Japan and South Korea's "serious concerns" over the recent sharp depreciation in their currencies. The comments spurred chatter about possible coordinated currency intervention. Brady said South Korea and Japan could amplify their individual messages to the market by coordinating policy, which might also enhance the short-term impact compared to unilateral action.

Persons: SeongJoon Cho, James Brady, Brady Organizations: Korean, Woori, Bloomberg, Getty, U.S ., Bank of, South Korean, greenback, Authorities, Treasury, Bank of Japan Locations: Seoul, South Korea, Bank of Japan, U.S, Japan, South, Tokyo, Bank of Korea

☆ Beijing half-marathon winner stripped of medal after 3 African runners let the Chinese athlete overtake, video appears to show
▼ + stars: | 2024-04-20 | by ( Cameron Manley | ) www.businessinsider.com time to read: +3 min

Organizers of Beijing's half-marathon stripped the winner of his gold medal, say reports. Video evidence appeared to show African runners slow to allow China's He Jie to overtake and win. Robert Keter then waves at He to overtake and signals to the other two African runners to pull back. AdvertisementThe investigation revealed the three African runners to be pacemakers, hired by Chinese sports company Xtep, which sponsored both He and the Beijing Half Marathon, but it did not inform the organizers. AdvertisementAll four runners' results have been revoked, and they will be stripped of their trophies, medals, and bonuses.

Persons: Jie, Kenya'sWilly Mnangat, —, Kenya's Robert Keter, Willy Mnangat, Mnangat, Robert Keter, Xtep, Zhong'ao Organizations: Service, Guardian, BBC Sport, South China Morning, World, Sports Management Co Locations: Beijing, BBC Sport Africa

☆ Beijing half marathon winners stripped of medals after African trio let Chinese runner win
▼ + stars: | 2024-04-19 | by ( Nectar Gan | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —The top four finishers of the Beijing Half Marathon have been stripped of their medals after an investigation found three African runners deliberately slowed down near the finish line to let a Chinese competitor win, according to organizers. The three African runners were invited to join the race as pacemakers by Chinese sports company Xtep, which sponsored both He and the Beijing Half Marathon, according to the committee. But Xtep failed to note the trio as pacemakers to the race operator, Zhong’ao Lupao Beijing Sports Management company, the committee said. The committee disqualified the operator from hosting the Beijing Half Marathon and banned Xtep from sponsoring any more races this season. He is ranked 74th in the world in the men’s marathon by World Athletics and is expected to lead the way for Asian runners in the upcoming Paris 2024 Summer Olympics.

Persons: China’s, Jie, Kenya’s Willy Mnangat, gesturing, Robert Keter, Ethiopia’s, Xtep, Xtep “, ” Organizations: Hong Kong CNN, Beijing Sports Management, Marathon, World Athletics Locations: Hong Kong, Beijing, Kenya, China

☆ Asia markets trade lower tracking Wall Street's losses; Japan inflation numbers watched
▼ + stars: | 2024-04-19 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets were all lower on Friday, tracking Wall Street's losses overnight and giving up gains from the previous day. Traders will also be watching chip stocks, after Taiwanese chip giant Taiwan Semiconductor Manufacturing Corp beat first quarter revenue and profit expectations on Thursday. Japan released March inflation data, with the headline inflation rate coming in at 2.7%, down from the 2.8% seen in February. The core inflation rate — which strips out fresh food prices — stood at 2.6%, in line with expectations from economists polled by Reuters. Japan's benchmark Nikkei 225 was down 1.88% after the inflation reading, while the broad based Topix fell 1.3%.

Organizations: Traders, Taiwan Semiconductor Manufacturing Corp, Reuters, Nikkei Locations: Asia, Pacific

☆ A 33-year-old man turned a Japanese farmhouse into a mountainside Airbnb retreat for $25,000 — here's how he did it
▼ + stars: | 2024-04-18 | by ( Claire Turrell | ) www.businessinsider.com time to read: +6 min

Read previewSingaporean Xian Jie Lee, 33, moved to Japan in 2012 to study political science. Xian Jie LeeShu told Lee that he could rent a farmhouse in a village called Ryujinmura. "I removed the tatami (traditional straw floor covering) in the inner room and fell through the floor," Lee said. Xian Jie LeeWhile renovating the guesthouse, Lee turned his own home into a café three days a week to earn extra income. Xian Jie LeeLee has also been able to participate in unique experiences himself.

Persons: —, Jie Lee, Lee, Shu, Wayakama, Xian Jie Lee Shu, who'd, shoji, Lance Yeo, Xian Jie Lee, he'd, Xian Jie Lee Lee Organizations: Service, Business, YouTube Locations: Japan, Kyoto, Wakayama, Singapore

☆ Asia markets mixed after S&P and Nasdaq fall for fourth straight day
▼ + stars: | 2024-04-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets were mixed on Thursday, following Wall Street's overnight losses which saw the S&P 500 and the Nasdaq Composite fall for a fourth straight day. Tech stocks led markets lower as artificial intelligence darling Nvidia fell nearly 4%, joined by Netflix , Meta , Apple and Microsoft . Tech was the worst-performing S&P 500 sector, falling 1.7%. Investors are "trimming some of the high fliers," said Kevin Gordon, senior investment strategist at Charles Schwab. Investors in Asia will assess Australia's unemployment rate, which is one of the metrics the country's central bank weighs when considering monetary policy.

Persons: Kevin Gordon, Charles Schwab Organizations: Nasdaq, Tech, Netflix, Meta, Apple, Microsoft Locations: Asia, Pacific

☆ Asia markets rebound after Tuesday's broad sell-off; Japan and Singapore data expected
▼ + stars: | 2024-04-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets rebounded after Tuesday's broad sell-off, with traders watching trade data out of Japan and Singapore on Wednesday. Investor sentiment, however, might be tempered by comments from U.S. Federal Reserve Chair Jerome Powell, who said there has been "a lack of further progress so far this year on returning to our 2% inflation goal." Echoing recent statements by central bank officials, Powell indicated the current level of policy likely will stay in place until inflation gets closer to target.

Persons: Jerome Powell, Powell Organizations: Wednesday, U.S . Federal Locations: Asia, Pacific, Japan, Singapore, U.S

☆ Singapore non oil domestic exports plunge 20.7%, misses expectations by a huge margin
▼ + stars: | 2024-04-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Singapore's non-oil domestic exports plunged 20.7% in March from a year ago, a sharp decline from the revised 0.2% fall in February. The 20.7% fall missed expectations by a huge margin, with economists polled by Reuters forecasting a 7% fall. This is the largest drop in non-oil domestic exports recorded by Singapore since January 2023. On a month-on-month basis, non-oil domestic exports slid 8.4%, also more than the 4.5% expected in the Reuters forecast. Non-oil domestic exports to Singapore's top markets declined in March, particularly for the U.S., the European Union and Japan.

Persons: Singapore's Organizations: Reuters, Enterprise Singapore, European Union, . Enterprise Singapore Locations: Marina, Sands, Singapore, Japan, China, Hong Kong, Taiwan

☆ K-pop stocks have sold off this year, but Goldman sees a turnaround
▼ + stars: | 2024-04-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

Goldman Sachs, however, expressed optimism for the industry in a March 14 report, saying the K-pop sector is "misunderstood." Nonetheless, Goldman Sachs said it sees a "high potential for valuation re-rating," as companies still continue to deliver multi-year earnings growth. Goldman pointed out that Japan's top talent agency Johnny & Associates has been mired in a major scandal, leading to the industry turning more favorable to K-pop artists. In 2023, Kouhaku Uta Gassen, the largest music show in Japan, invited five K-pop artists and two localized groups produced by K-pop companies. It was the first time the show has featured male K-pop artists since 2011 and the largest number of K-pop groups ever featured in its line up.

Persons: Danielle, Hyein, NewJeans, Gary Miller, Goldman Sachs, Karina, Goldman, Kouhaku Uta Gassen Organizations: Park, Filmmagic, JYP, YG Entertainment, SM Entertainment, Hybe, SM, Johnny, Associates Locations: CHICAGO , ILLINOIS, Chicago , Illinois, Japan, U.S

☆ China's economy grew 5.3% in the first quarter, beating expectations
▼ + stars: | 2024-04-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

China's economy in the first quarter grew faster than expected, official data released Tuesday by China's National Bureau of Statistics showed. On a quarter-on-quarter basis, China's GDP grew 1.6% in the first quarter, compared to a Reuters poll expectations of 1.4% and a revised fourth quarter expansion of 1.2%. Beijing has set a 2024 growth target of around 5%. Last week, Morgan Stanley raised its 2024 real GDP forecast for China to 4.8%, from its previous expectation of 4.2%. The world's second largest economy saw weak export and inflation data earlier this month, with both sets of data coming in below expectations.

Persons: Morgan Stanley Organizations: China's National Bureau, Statistics, Gross, Reuters Locations: Qingzhou, Weifang City, Shandong Province, China, Beijing

☆ Asia markets extend declines amid Iran-Israel tensions; China economic data on deck
▼ + stars: | 2024-04-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A batch of cars are ready to be shipped to overseas markets at the port of Taicang, Jiangsu province, China, April 9, 2024. Future Publishing | Future Publishing | Getty ImagesAsia-Pacific markets extended their declines as the world awaits Israel's response to Iran's air assault over the weekend. On Tuesday, China's first-quarter gross domestic product numbers will be in focus, with the world's second-largest economy expected to grow 4.6% from a year ago. Futures for Hong Kong's Hang Seng index stood at 16,430, pointing to a weaker open compared to the HSI's close of 16,600. Japan's Nikkei 225 plunged 1.5% at the open, while the broad based Topix was down 1.04%.

Persons: China's, Kospi Organizations: Future Publishing, Getty, Nikkei Locations: Taicang, Jiangsu province, China, Asia, Pacific, Australia

☆ Did Three African Runners Let a Chinese Runner Win a Race in Beijing?
▼ + stars: | 2024-04-16 | by ( Yan Zhuang | More About Yan Zhuang | ) www.nytimes.com time to read: 1 min

After a grueling hour, there was little to separate the four runners as the finish line approached. Seconds later, another runner did the same. He Jie of China then strode ahead of the others, a recorded livestream of Sunday’s Beijing Half Marathon shows. He took first place with a time of 1 hour 3 minutes 44 seconds. Mnangat, Keter and Hailu tied for second place, one second later.

Persons: Jie, strode, — Willy Mnangat, Robert Keter, Ethiopia —, Hailu Organizations: Marathon Locations: China, Sunday’s Beijing, Kenya, Ethiopia

☆ Asia-Pacific markets fall amid Israel-Iran tensions with spotlight on oil, gold and bitcoin
▼ + stars: | 2024-04-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, Feb. 6, 2024. Asia-Pacific markets slipped Monday as traders weighed the impact of Iran's drone attack on Israel over the weekend, with focus also on key economic data from China and Japan later in the week. The U.S. intervened to directly help Israel shoot down nearly all of the incoming munitions, Biden said in a statement Saturday. India will release its wholesale inflation figures for March later in the day, while China will announce its first quarter GDP numbers on Tuesday. Japan will release its March trade data and inflation numbers on Wednesday and Friday, respectively.

Persons: Joe Biden, Israel, Biden Organizations: Brent, . West Texas Locations: Shibuya, Tokyo, Japan, Asia, Pacific, Israel, China, Iran, U.S, India

☆ Chinese runner’s win invites suspicion after rivals appear to step aside
▼ + stars: | 2024-04-15 | by ( Andrew Mcnicol | Hassan Tayir | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Chinese runner He Jie’s victory Sunday in the Beijing Half Marathon is facing a probe after his win was called into question by Chinese internet users because a trio of African runners appeared to deliberately slow down to let him win. The Chinese runner crossed the finish line in 1:03:44 to claim the $5,500 first prize, with the African trio just one second behind in joint-second place. The video clip shows the African runners applauding He’s win and patting him on the back, though the Asian Games marathon champion appears less enthused despite winning his first ever competitive half marathon. Some Chinese internet users called for an investigation into the race, while others demanded action from organizers. He is ranked 77th in the world in men’s marathon by World Athletics and is expected to lead the way for Asian runners in the upcoming Paris 2024 Summer Olympics.

Persons: Kenya’s Willy Mnangat, Robert Keter, Ethiopia’s, He’s, patting, “, ”, ” Xstep, It’s, Mark Dreyer, That’s, “ It’s, Jie, ” Dreyer Organizations: Hong Kong CNN, Asian Games, Beijing Municipal Sports Bureau, Chinese Athletics Association, CNN, Sporting, World Athletics Locations: Hong Kong, Beijing, Kenya, Weibo, China’s Ningxia

☆ China has strong fundamentals and should remain a focus for businesses, Singapore trade minister says
▼ + stars: | 2024-04-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Businesses should continue to focus on China and explore opportunities to expand their presence in the world's second-largest economy, Singapore Minister for Trade and Industry Gan Kim Yong said Friday. China had briefly entered deflation territory late last year, and is still struggling with a debt-laden real estate sector. However, "if you take a deeper look, when I engaged the businesses and the people on the ground, I think the sense it gives me is that China's fundamentals are strong," Gan said on CNBC's "Squawk Box Asia." The country's investments in infrastructure will also put it in a good position to recover in the longer term, Gan added. "So I think in the meantime, in the immediate future, they will see headwinds, but I think in the longer term, the fundamentals remain strong."

Persons: Industry Gan Kim Yong, China, Fitch, Gan Organizations: Singapore Minister, Trade, Industry, Moody's Locations: China, Singapore

☆ Asia markets mixed ahead of China trade data; Singapore first-quarter GDP climbs 2.7%
▼ + stars: | 2024-04-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets were mixed Friday after an inflation-fueled selloff in the previous session, with investor assessing economic data from Singapore and South Korea while awaiting China trade numbers. China's trade data for March will be released later in the day, with exports forecast to fall 2.3% year on year by economists polled by Reuters. The city-state's central bank held its monetary policy steady, leaving the width and level of its policy band unchanged. In contrast to other countries, Singapore uses exchange rate settings for its monetary policy, instead of a benchmark interest rate. South Korea's March unemployment rate rose to 2.8%, while investors awaited the Bank of Korea's rate decision.

Persons: Singapore's Organizations: Reuters, Bank of Locations: Qingdao, Shandong province, Asia, Pacific, Singapore, South Korea, China

☆ Asia markets tumble after hotter-than-expected U.S. inflation; China inflation on deck
▼ + stars: | 2024-04-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Customers at a fresh food market in Shanghai, China, on Monday, Aug. 7, 2023. Asia-Pacific markets tumbled after U.S. inflation for March came in hotter than expected, climbing 3.5% on a year-on-year basis and 0.4% higher compared to the previous month. Economists surveyed by Dow Jones had been looking for a 0.3% month-on-month gain and 3.4% year-over-year. Excluding volatile food and energy components, the core CPI also accelerated 0.4% on a monthly basis while rising 3.8% from a year ago, compared with respective estimates for 0.3% and 3.7%. Investors in Asia will also monitor China's inflation figures Thursday, with economists polled by Reuters expecting the consumer price index to climb 0.4% in March.

Persons: Dow Jones Organizations: Investors, Reuters Locations: Shanghai, China, Asia, Pacific

☆ Asia markets mostly fall as Japan corporate inflation climbs; New Zealand rate decision on tap
▼ + stars: | 2024-04-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

People commuting to work in the morning cross a pedestrian crossing in Tokyo on February 15, 2024. Asia-Pacific markets mostly fell as of Japan's corporate inflation climbed in March and rate decisions are awaited from New Zealand and Thailand's central banks. South Korea's markets are closed Wednesday, as the country heads to the polls to elect its next parliament. Japan's corporate inflation rate came in at 0.8% for March, its third straight month of increase and in line with expectations from a Reuters poll of economists, while investors also brace for the U.S. consumer price index report later Wednesday.

Locations: Tokyo, Asia, Pacific, New Zealand, South

☆ Asia markets climb as U.S. Treasury yields pressure Wall Street; data from Australia and Japan on deck
▼ + stars: | 2024-04-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

An aerial view of the central business district and Sydney Opera House on February 17, 2023. On Tuesday, investors in Asia will observe business confidence surveys from Australia and consumer confidence data from Japan. Asia-Pacific markets climbed even as U.S. Treasury yields put pressure on Wall Street equities Monday. Futures for Hong Kong's Hang Seng index stood at 16,831, pointing to a weaker open compared to the HSI's close of 16,732.85. Treasury yields rose, with the rate on the benchmark 10-year Treasury note up about 4 basis points to 4.42%.

Persons: CNBC's Hakyung Kim, Yun Li Organizations: Sydney Opera House, Treasury, Wall, Nikkei, Dow Jones, Nasdaq Locations: Asia, Australia, Japan, Pacific, U.S, . Federal

☆ Japan's real wages fall for 23rd straight month, dampening Bank of Japan's hopes for 'virtuous cycle'
▼ + stars: | 2024-04-08 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Real wages in Japan fell for a 23rd straight month, suggesting that high inflation is still biting into consumer spending power in the country. Labor ministry data released Monday showed that real wages fell 1.3% in February from a year ago, accelerating from a revised 1.1% drop in January. The data showed special payments, which include bonuses, slipped 5.5% year-on-year. But those pay hikes benefit only a fraction of Japan's workers, given only 16.3% of workers are unionized in the country and most unionized workers are concentrated in large companies. If real wages continue to decline, consumers may choose to save instead of spend, thereby generating little demand and impetus for prices to rise.

Organizations: Labor, Bank of Japan's Locations: Japan

☆ Asia markets largely set to fall on fears the Fed could hold off interest rate cuts; oil soars
▼ + stars: | 2024-04-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets were largely set to fall on Friday, mirroring moves on Wall Street after comments from U.S. Federal Reserve officials fueled worries that the central bank could hold off on rate cuts. Minneapolis Fed President Neel Kashkari cast doubts on Thursday over the central bank cutting rates at all if inflation remained sticky. Oil prices continued to rise, with WTI crude surpassing $86 a barrel to test six-month highs. Brent crude prices also set a new six-month high of $90.65. S&P will also release its business activity numbers for Hong Kong, while the Reserve Bank of India will announce its rate decision later in the day.

Persons: Neel Kashkari Organizations: U.S . Federal Reserve, Minneapolis, Brent, Reuters, Reserve Bank of India Locations: Tokyo, Japan, Asia, Pacific, U.S, Hong Kong

☆ Apple supplier Foxconn posts 9% fall in first-quarter revenue, sees growth ahead
▼ + stars: | 2024-04-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Pictured here is a Foxconn factory in Zhengzhou city on Sept. 4, 2021. Apple iPhone manufacturer Foxconn on Friday posted a dip of 9.6% in revenue for the first quarter of 2024, compared to the same period last year. The company, which trades as Hon Hai Precision Industry in Taiwan, recorded a first-quarter revenue of 1.32 trillion New Taiwan dollars ($41.2 billion), which was also 28.58% lower compared to the fourth quarter of last year. It was also below economists' expectations in an LSEG poll. However, the company expects revenue to grow in the second quarter, despite noting that it "remains a traditional off-peak season."

Organizations: Apple, Hai Precision Industry Locations: Zhengzhou, Taiwan

☆ Japan leads gains in Asia as investors assess Powell's comments; Hong Kong, China and Taiwan markets closed
▼ + stars: | 2024-04-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

People visit the Kartavya Path in the early evening in New Delhi, India, on Tuesday, April 18, 2023. India has overtaken China as the world's most populous nation, according to UN data released on April 19. Photographer: Prashanth Vishwanathan/Bloomberg via Getty ImagesAsia-Pacific markets rebounded following a sell-off in the previous session, as investors digest comments from U.S. Federal Reserve Chairman Jerome Powell. In Asia, investors will assess March service sector activity data from India, as well as retail sales numbers from Hong Kong. Markets in Hong Kong, mainland China and Taiwan are closed for a public holiday.

Persons: Prashanth Vishwanathan, Jerome Powell, Powell Organizations: Bloomberg, Getty Images, U.S . Federal, Hong Kong . Markets Locations: New Delhi, India, China, Getty Images Asia, Pacific, U.S, Asia, Hong Kong, Taiwan

☆ In the wake of bitcoin's new highs, South Korea's 'kimchi premium' is in the spotlight again
▼ + stars: | 2024-04-03 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

Now, get ready for the "kimchi premium," named after the popular side dish of fermented vegetables that's a staple in Korean cuisine. The "kimchi premium" refers to the price gap in cryptocurrencies, especially bitcoin, when listed in South Korea versus those listed in U.S. or European exchanges. The kimchi premium is in the spotlight again after bitcoin reached all-time highs in mid-March, soaring past $73,000 to a record high on March 13, according to Coin Metrics data. According to cryptocurrency data provider Cryptoquant, the Korea Premium Index reached its highest level since May 2021 on March 16, reaching 10.88%. That means bitcoin's trading price in South Korea was roughly 10% higher than the global spot price.

Persons: it's, bitcoin, Sam Bankman, Fried, FTX, Chainalysis, Baik Seunghoon, Baik Organizations: Alameda Research, CNBC, University of Calgary, country's Financial, Commission, South, South Korean Locations: Korea, South, cryptocurrencies, South Korea, Japan, China, East Asia, Korean

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