DIRS.INFO The most relevant business & tech news

☆ Japanese investors slow investments in overseas bonds and equities in Oct
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

According to the data, domestic investors accumulated a net 1.12 trillion yen ($7.40 billion) worth of overseas bonds last month in a third straight month of net buying. They also poured 736.6 billion yen into foreign equities, much lesser than about 1.17 trillion yen they put in the previous month. Japanese banks poured a net 609.2 billion yen into long-term overseas bonds last month after about 4.76 trillion yen worth of net buying a month ago. Meanwhile, trust accounts and insurers pulled out a net 210.8 billion yen and 270.6 billion yen, respectively. Year-to-date data indicated that Japanese investors were net purchasers of U.S. bonds, buying about 18.81 trillion yen worth by September, while they emerged as net sellers of European debt, offloading 1.25 trillion yen.

Persons: Kim Kyung, Gaurav Dogra, Patturaja, Rashmi Organizations: REUTERS, Japan's Ministry, Finance, Reuters Graphics Reuters, Treasury, Thomson Locations: Tokyo, Japan, Bengaluru

☆ Asia stocks slide as Powell comments quell rate peak bets
▼ + stars: | 2023-11-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The sombre mood is set to continue as Europe wakes up, with futures indicating a steeply lower open. Eurostoxx 50 futures were down 0.73%, German DAX futures dropped 0.66% and FTSE futures were 0.78% lower. The Fed is "committed to ... monetary policy that is sufficiently restrictive to bring inflation down to 2% over time," Powell said at an International Monetary Fund event. U.S. rate futures have priced in about 60% chance of a rate cut at the Fed's June 2024 meeting, according to the CME's FedWatch tool, compared to odds of about 70% before Powell's speech. The oil market has been reeling this week on demand concerns, with a fading war-risk premium triggering a sell-off.

Persons: Kim Kyung, Powell, Jerome Powell, DAX, Rob Carnell, Powell's, ING's Carnell, there's, Hong, Tapas Strickland, Brent, Ankur Banerjee, Tom Hogue Organizations: Tokyo Stock Exchange, REUTERS, Fed, . Federal, International Monetary Fund, ING, Investors, Reuters, Nasdaq, NAB, New, Thomson Locations: Tokyo, Japan, EUROPE, SINGAPORE, U.S, Asia, Pacific, Europe, Beijing, New Zealand, Singapore

☆ Exclusive: ICBC injected capital into U.S. unit after hack - sources
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

The logo of Industrial and Commercial Bank of China (ICBC) is seen at its branch at its headquarters in Beijing, China, March 30, 2016. The rest of Wall Street has cut off the bank’s connection to their systems pending the review, the sources said. The attack, confirmed by ICBC on Thursday, is the latest in a string of ransom demands by hackers this year. ICBC Financial Services, the bank's U.S. unit, said on Thursday it was investigating the attack that disrupted some of its systems, and making progress toward recovering from it. Reporting by Paritosh Bansal and Lananh Nguyen; additional reporting by Carolina Mandl; editing by Megan DaviesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, ICBC, SIFMA, Paritosh Bansal, Lananh Nguyen, Carolina Mandl, Megan Davies Organizations: Industrial, Commercial Bank of China, REUTERS, Securities Industry, Financial Markets Association, ICBC Financial Services, Thomson Locations: Beijing, China, U.S

☆ Asian stocks slide as hawkish Powell comments weigh
▼ + stars: | 2023-11-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

A man works at the Tokyo Stock Exchange after market opens in Tokyo, Japan October 2, 2020. U.S. Federal Reserve officials including Powell said on Thursday they are still not sure interest rates are high enough to finish the battle with inflation. The yield on 10-year Treasury notes eased 1 basis point to 4.620% in Asian hours, having risen 10.7 bps overnight. In the currency market, the dollar index held on to its overnight gains and was last at 105.87. The oil market has been reeling this week on demand concerns, with a fading war-risk premium triggering a sell-off.

Persons: Kim Kyung, Jerome Powell, Powell, Rob Carnell, Carnell, there's, Hong, Tapas Strickland, Brent, Ankur Banerjee, Tom Hogue Organizations: Tokyo Stock Exchange, REUTERS, Rights, Fed, Japan's Nikkei, . Federal, International Monetary Fund, ING, Investors, Nasdaq, NAB, Treasury, New, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, U.S, Asia, Pacific, China, Beijing, New Zealand, Singapore

☆ Exclusive: ICBC hack led to unit temporarily owing BNY $9 bln - sources
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

The logo of Industrial and Commercial Bank of China (ICBC) is seen at its branch at its headquarters in Beijing, China, March 30, 2016. BNY has since been paid back, the sources said. The attack, confirmed by ICBC on Thursday, is the latest in a string of ransom demands by hackers this year. ICBC Financial Services, the bank's U.S. unit, said on Thursday it was investigating the attack that disrupted some of its systems, and making progress toward recovering from it. Reporting by Paritosh Bansal; editing by Megan DaviesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, BNY, ICBC, Paritosh, Megan Davies Organizations: Industrial, Commercial Bank of China, REUTERS, Commercial Bank of China's, U.S, Bank of New York Mellon, ICBC Financial Services, Securities Industry, Financial Markets Association, Thomson Locations: Beijing, China, U.S

☆ Asian shares rise as S&P 500 records longest win streak in two years
▼ + stars: | 2023-11-09 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was flat, although up 4.6% so far this month. The dollar index , which tracks the greenback against a basket of currencies of other major trading partners, was down slightly at 105.52. On Wall Street, the S&P 500 (.SPX) rose 0.10% and the Nasdaq Composite (.IXIC) added 0.08%. The S&P 500 rose for the eighth consecutive day, extending its longest win streak in two years. In Asia on Thursday, U.S. crude and Brent crude both rose 0.8% following the weak performance in the U.S. session.

Persons: Kim Kyung, Ping, Brent, Gold, Scott Murdoch, Tom Hogue Organizations: Nikkei, REUTERS, Rights, CPI, ANZ, Reuters, Ping An Insurance Group, Garden Holdings, HK, Ping An, U.S, U.S . Federal, Nasdaq, Dow Jones, Federal Reserve, Thomson Locations: Tokyo, Japan, Asia, Pacific, U.S, U.S ., China

China's foreign ministry said on Friday the lender is striving to minimise risk impact and losses after the attack. "We don't often see a bank this large get hit with this disruptive of a ransomware attack," said Allan Liska, a ransomware expert at the cybersecurity firm Recorded Future. TRADES CLEAREDICBC said it had successfully cleared Treasury trades executed on Wednesday and repurchase agreements (repo) financing trades done on Thursday. Some market participants said trades going through ICBC were not settled due to the attack and affected market liquidity. The Treasury market appeared to be functioning normally on Thursday, according to LSEG data.

Persons: Kim Kyung, ICBC, Wang Wenbin, Wang, Lockbit, Allan Liska, Scott Skrym, Michael Gladchun, Loomis Sayles, SIFMA, Urvi, Pete Schroder, Gertrude Chavez, Davide Barbuscia, Carolina Mandl, Paritosh Bansal, Joe Cash, Stephen Coates, Tomasz Janowski Organizations: Commercial Bank of China Ltd, REUTERS, Industrial, Commercial Bank of China, Commercial Bank of China's, U.S . Treasury, ICBC Financial Services, Cybersecurity, Infrastructure Security Agency, Boeing, U.S . Treasury Department, Treasury, Securities, Financial Times, U.S . Securities Industry, Financial Markets Association, Thomson Locations: Beijing, China, U.S, Bengaluru, Washington, Carolina

☆ US Treasury Dept aware of cybersecurity issue at ICBC affecting Treasury market -spokesperson
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: 1 min

The logo of Industrial and Commercial Bank of China (ICBC) is seen at its branch at its headquarters in Beijing, China, March 30, 2016. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsCompanies Industrial and Commercial Bank of China Ltd FollowWASHINGTON, Nov 9 (Reuters) - The U.S. Treasury Department is aware of a cybersecurity issue at Industrial and Commercial Bank of China (601398.SS) that has affected the Treasury market, and is in regular contact with key financial sector participants and regulators, a spokesperson said on Thursday. The Treasury issued the statement following a Financial Times report that a ransomware attack at ICBC had "disrupted" the US Treasury market by preventing the bank from settling Treasury trades on behalf of other market participants. Reporting by Pete Schroeder Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, Pete Schroeder, Chris Reese Organizations: Industrial, Commercial Bank of China, REUTERS, Commercial Bank of China Ltd, WASHINGTON, U.S . Treasury, Treasury, Times, US Treasury, Thomson Locations: Beijing, China, ICBC

Industrial and Commercial Bank of China Ltd (ICBC)'s logo is seen at its branch in Beijing, China, March 30, 2016. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsCompanies Industrial and Commercial Bank of China Ltd FollowNov 9 (Reuters) - A ransomware attack on Industrial and Commercial Bank of China (ICBC) disrupted some trades in the U.S. Treasury market on Thursday, the Treasury Department said. In ransomware attacks, hackers encrypt an organization's systems and demand ransom payments in exchange for unlocking them. The Financial Times reported earlier on Thursday that the U.S. Securities Industry and Financial Markets Association (SIFMA) told members that ICBC (601398.SS) had been hit by ransomware that disrupted the U.S. Treasury market by preventing it from settling trades on behalf of other market players. We continue to monitor the situation," a Treasury spokesperson said in a response to a question about the FT report.

Persons: Kim Kyung, Urvi, Pete Schroder, Zeba Siddiqui, Alexander Smith, Michelle Price, Lisa Shumaker Organizations: Commercial Bank of China Ltd, REUTERS, Industrial, Commercial Bank of China, U.S . Treasury, Treasury Department, Financial Times, U.S . Securities Industry, Financial Markets Association, Treasury, Thomson Locations: Beijing, China, U.S, Bengaluru, Washington

☆ Asia stocks snap winning streak, await RBA
▼ + stars: | 2023-11-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsSINGAPORE, Nov 7 (Reuters) - Asian stocks snapped a three-day winning streak on Tuesday, slipping as the bond market's rally paused and investors reined in enthusiasm about a possible peak in global interest rates. Focus is on whether Australia's central bank turns odd man out and raises rates, with a policy decision due at 0330 GMT. Overnight the dollar had rallied with a rise in U.S. Treasury yields, leaving the Australian dollar under gentle pressure at $0.6495 in morning trade in Asia. Aussie government bond futures fell slightly and the ASX200 (.AXJO), which had gained five sessions in a row, slipped 0.4%. Ten year yields rose 10 bps on Monday, but had fallen almost 30 bps last week.

Persons: Kim Kyung, Ben Bennett, Alan Ruskin, George Saravelos, Commonwealth Bank analyst Carol Kong, Gold, bitcoin, Ankur Banerjee Organizations: Tokyo Stock Exchange, REUTERS, Rights, Reserve Bank of Australia, Treasury, Japan's Nikkei, U.S . Federal Reserve, Nasdaq, Legal, General Investment Management, U.S, Deutsche Bank, Commonwealth Bank analyst, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, U.S, Asia, Pacific, Taiwan, East, Russia, Australia, Saudi Arabia, Singapore

☆ Mitsubishi Heavy expects record defence orders as Japan boosts military
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

The logo of Mitsubishi Heavy Industries is seen at the company headquarters in Tokyo, Japan December 8, 2022. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Nov 6 (Reuters) - Mitsubishi Heavy Industries (7011.T) has doubled its forecast for defence orders to a record 1.6 trillion yen ($10.7 billion) in the current financial year, it said on Monday, as Japan expands its military by the most since World War Two. The country's top defence contractor Mitsubishi Heavy makes missiles, tanks, submarines and other defence equipment, and military work accounts for around a tenth of its overall revenue. The revision of the internal projection for defence orders compared to a range of 800 billion to 850 billion yen it had previously expected, a company spokesperson told Reuters. The company on Monday also lifted estimates for total orders for the full year by around a fifth, to 5.6 trillion yen.

Persons: Kim Kyung, Seiji Izumisawa, Maki Shiraki, Mariko Katsumura, Barbara Lewis Organizations: Mitsubishi Heavy Industries, REUTERS, Rights, Mitsubishi, Reuters, Thomson Locations: Tokyo, Japan, China, North Korea

☆ Asia stocks snap winning streak, Aussie slips
▼ + stars: | 2023-11-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1.2% following a three-day rally that lifted the benchmark by nearly 6%. South Korean shares (.KS11) fell 3% as traders unwound some of Monday's surge on the reimposition of a short-selling ban. Treasuries were broadly steady in Asia, having unwound a little of last week's rally on Monday. Ten-year yields hovered at 4.92% - about 10 basis points above where they closed on Friday, but below where they were a week earlier. "It was a dovish hike...it's not pointing to any immediate need for a follow-up," said RBC Capital Markets rates strategist Rob Thompson on the phone from Sydney.

Persons: Kim Kyung, Nicholas Chia, it's, Rob Thompson, Alan Ruskin, George Saravelos, Gold, bitcoin, Ankur Banerjee, Lincoln Organizations: Tokyo Stock Exchange, REUTERS, Rights, Reserve Bank of Australia, South, Japan's Nikkei, Shanghai, Nasdaq, Standard Chartered, Fed, Capital Markets, U.S, Deutsche Bank, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Australia, Asia, Pacific, Sydney, Taiwan, East, Russia, Saudi Arabia, Singapore

☆ Bain Capital to buy consulting firm Guidehouse in $5.3 bln deal
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. REUTERS/Kim Kyung-Hoon/FIle photo Acquire Licensing RightsNov 6 (Reuters) - Private equity firm Bain Capital will acquire government and business consulting firm Guidehouse in a deal valued at $5.3 billion, the companies said on Monday. Bain Capital declined to comment on specific terms of the Guidehouse deal, when contacted by Reuters. Guidehouse has been owned by Veritas Capital since 2018, when the PE firm acquired Big Four firm PwC's U.S. public sector business and rebranded it as Guidehouse. It also agreed to acquire 90% of India's Adani Capital and Adani Housing, buying out all of the Adani family's private investments in the company.

Persons: Kim Kyung, Guidehouse, Grant, Pritam Biswas, Devika Nair, Savio D'Souza, Shailesh Organizations: Bain Capital, REUTERS, U.S . Department of Defense, Homeland Security, Reuters, Veritas Capital, Big, Macquarie, Dovel Technologies, Chindata, Adani, Thomson Locations: Tokyo, Japan, United States, Bengaluru

☆ Bain close to buying consulting firm Guidehouse in $5 bln deal- WSJ
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. REUTERS/Kim Kyung-Hoon/File photo Acquire Licensing RightsNov 5 (Reuters) - Bain Capital is close to acquiring Guidehouse, a consulting firm that advises government organizations and businesses, in a deal valuing it at $5.3 billion including debt, the Wall Street Journal reported on Sunday. Bain Capital declined to comment when contacted by Reuters, while Guidehouse did not immediately respond to a request for comment. Private equity firm Veritas Capital acquired the U.S. public sector business of accounting firm PricewaterhouseCoopers in 2018 and rebranded it as Guidehouse. Reporting by Devika Nair in Bengaluru; Editing by Rashmi Aich and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, Guidehouse, Devika Nair, Rashmi Aich, Subhranshu Organizations: Bain Capital, REUTERS, Wall Street, Reuters, Veritas Capital, U.S, PricewaterhouseCoopers, Thomson Locations: Tokyo, Japan, Bengaluru

☆ Philippines military remains loyal to the president - national security adviser
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +2 min

Philippine National Security Adviser Eduardo Ano arrives to meet Japanese Prime Minister Fumio Kishida at the prime minister's office in Tokyo, Japan, June 15, 2023. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsMANILA, Nov 4 (Reuters) - The Philippines' National Security Adviser on Saturday rejected talk of a plot to destabilise the government of President Ferdinand Marcos Jr, saying the military and entire security sector were loyal to the commander-in-chief. "Yes, there were healthy and passionate exchanges (and) debates among some retired or former military officers and even some criticism against certain policies of the current administration, but they are within the bounds of our democratic space," National Security Adviser Eduardo Año said. "The security sector shall remain vigilant and ready to take immediate action against any sinister group that will undermine our national security," Ano said. The Philippines has seen more than a dozen coup attempts since the overthrow of President Ferdinand Marcos in 1986.

Persons: Eduardo Ano, Fumio Kishida, Kim Kyung, Ferdinand Marcos Jr, Eduardo Año, Año, Año's, Romeo Brawner, Brawner, Ano, Marcos, Ferdinand Marcos, Karen Lema, Michael Perry Organizations: Philippine National Security, REUTERS, Rights, National Security, Philippine, Thomson Locations: Tokyo, Japan, Rights MANILA, Philippines

The 10-year Japanese government bond yield rose 2 basis points (bps) to 0.970%, a level last seen in May 2013, before retreating to 0.960% immediately after the BOJ announced an emergency bond-purchase operation. Tsuruta sees the tweak as a step toward the BOJ eventually exiting from negative interest rates policy, which he expects around the beginning of next year at the earliest. The two-year JGB yield had ticked up to 0.160%, while the five-year yield reached 0.480%, levels not seen since 2011. On the superlong end, the 20-year JGB yield rose to its highest since July 2013 at 1.735%. The 30-year JGB yield was up 3 bps at 1.905%.

Persons: Kim Kyung, Keisuke Tsuruta, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Tsuruta, James Malcolm, YCC, Malcolm said, Brigid Riley, Vidya Ranganathan, Shri Navaratnam Organizations: Bank of Japan, REUTERS, Rights, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, UBS, Thomson Locations: Tokyo, Japan, London

☆ Instant View: BOJ modifies bond yield control, re-defines long-term rate cap
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +10 min

But it's also likely the BOJ have their finger on the intervention button to cap any runaway rally on USD/JPY." Nevertheless, this is working in a way to increase the volatility of the global rates market. This means it will still have a certain distance until the BOJ exit from the negative rate policy." "A yield cap isn't a yield cap if you change it every time the market gets close." The Bank of Japan could lift the negative policy rate to zero over the coming year.

Persons: Kim Kyung, KYLE RODDA, MATT SIMPSON, JPY, it's, NOMURA, They've, TONY SYCAMORE, normalisation, TAKAYUKI MIYAJIMA, ROB CARNELL, they're, JEFF NG, TOM NASH, OMORI, SHOTARO KUGO, me, IZURU KATO, MARCEL THIELIANT, today's, FREDERIC NEUMANN, CHRISTOPHER WONG, BOJ's, Sherry Jacob, Phillips Organizations: National Printing Bureau, Bank of Japan, REUTERS, Bank of, Nikkei, SAXO, SONY, ING, UBS, CHIEF, DAIWA, OF, HSBC, Global, Thomson Locations: Tokyo, Japan, Bank of Japan, MELBOURNE, BRISBANE, SINGAPORE, TOKYO, U.S, SYDNEY, ASIA, PACIFIC, CHIEF JAPAN, stagflation, OF ASIA, YCC, HONG KONG

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsNov 1 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. But Asian markets' first chance to react to that will be Thursday. But if the yuan is under pressure, it is nothing compared to the onslaught Japan's yen is facing. The currency and bond market reactions to the BOJ's policy tweak could not have been more different - the yen fell the most since April, while Japanese bond yields surged to a fresh decade-high. World, U.S. and Asian stocks all fell for a third month in a row, bond yields surged and financial conditions tightened significantly.

Persons: Kim Kyung, Jamie McGeever, China's Organizations: National Printing Bureau, Bank of Japan, REUTERS, U.S . Federal, U.S, Treasury, PMI, Tuesday, China PMI, Indonesia CPI, Thomson, Reuters Locations: Tokyo, Japan, Asia, India, South Korea, Indonesia, Korean, Hong Kong, China

☆ Analysis: Yen comeback may be a longer waiting game
▼ + stars: | 2023-10-27 | by ( Tom Westbrook | ) www.reuters.com time to read: +5 min

One result is an uneasy calm in spot and options markets for dollar/yen as traders give up waiting for the yen to bounce. Driven weaker by the widening gap between U.S. and Japanese interest rates, the yen has lost 13% on the dollar this year and at 150 is near the three-decade low of 151.94 that prompted government intervention a year ago. Market participants say what's changed is the expectation that Japan would be in the driver's seat for the yen this year. Yet together with the risk of intervention, it only seems to have stopped the yen from falling, rather than driving the sort of rally investors had been girding for at the outset of 2023. To be sure, Sachdev said interest in 'carry trades' - borrowing yen to sell for higher-interest paying currencies is waning, while investors have been keen for long exposure to yen assets.

Persons: Kim Kyung, Patrick Law, Masafumi Yamamoto, Yen, Shafali Sachdev, Sachdev, Tom Westbrook, Jacqueline Wong Organizations: National Printing Bureau, Bank of Japan, REUTERS, Rights, Federal, Pacific FX, Bank of America, Bank of International Settlements, Bank of, Mizuho Securities, U.S ., Swiss, Reuters, BNP, Wealth Management, Citi, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Hong Kong, U.S

☆ Why China's 1 trillion yuan debt plan isn't necessarily such a big deal
▼ + stars: | 2023-10-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Kim Kyung-Hoon | ReutersBEIJING — Chinese authorities late Tuesday announced one of the biggest changes to the national budget in years, along with the issuance of 1 trillion yuan in ($137 billion) in government bonds. Chinese state media said the 1 trillion yuan in central government issuance is set to be transferred to local governments in two parts, half for this year and half for next year. "It is roughly around 5% of transfer revenues or 2% of total revenues for the local governments," Yin said. "Note a special program has already been started since October, allowing local governments to issue special refinancing bonds to swap their outstanding hidden debt. Goldman Sachs analysts estimated the early issuance could be as much as 2.7 trillion yuan, based on prior government practice.

Persons: Kim Kyung, Hoon, Larry Hu, it's, Ting Lu, Yin, Nomura's Lu, Ricky Tsang, they're, Tsang, —, Goldman Sachs, Macquarie's Hu, It's Organizations: Reuters, Macquarie, Monetary Fund, People's Bank of Locations: Beijing, Reuters BEIJING, China, Hong Kong, People's Bank of China

☆ China's quiet campaign to win over Middle Eastern countries has run into a problem Beijing isn't really ready to deal with
▼ + stars: | 2023-10-24 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

Until recently, 2023 looked to be a major year for Chinese outreach in the Middle East. Until this month, 2023 looked to be a landmark year for China's outreach to the Middle East. Zhai, China's Middle East envoy, began a tour of the region last week, stopping in Qatar first on October 19. "It's the kind of role we've played for the last half-century in the Middle East. Paul Iddon is a freelance journalist and columnist who writes about Middle East developments, military affairs, politics, and history.

Persons: —, Xi Jinping, Bashar Assad, Benjamin Netanyahu, Kim Kyung, Yoav Gallant, Ariel Hermoni, Zhai Jun, Wang Yi, Chuck Schumer, Xi, Nicholas Burns, Burns, Michael Singh, Abraham, Singh, Mahmud Abbas, Jade Gao, Alexus Grynkewich, Grynkewich, Abu Dhabi, ATTA KENARE, it's, Zhai, we've, Paul Iddon Organizations: Service, Initiative, Israeli, REUTERS, Saudi, UAE, Israeli Defense Ministry, Getty Images, Washington, The Washington Institute, White House, Israel, US Air Forces, Defense Writers, Huawei, Getty Locations: East, Beijing, Israel, China, Iran, Syria, Kuwait, Saudi Arabia, Gaza, Anadolu, Getty Images Beijing, Saudi, Egypt, UAE, Jordan, Iraq, Abu, AFP, Qatar, Palestine

☆ Nidec shares slump over 9% after it retains annual profit outlook
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Oct 24 (Reuters) - Nidec (6594.T) shares tumbled more than 9% on Tuesday after the electric motor maker kept its annual profit outlook unchanged the previous day despite reporting a rise in quarterly profit. Some analysts said the unchanged profit outlook of 220 billion yen ($1.47 billion) for the current year to March 2024 came short of market consensus, while also voicing concerns over declining margins in the Chinese automotive business. "We are still concerned about the outlook for the Chinese EV market and the shift to lower output motors, which is impacting profitability." After the market close on Monday, the Kyoto-based company announced a 7.6% rise in quarterly operating profit, helped by stronger sales and a weaker yen currency. The company's shares were trading down 9.2% by mid-morning, after being untraded with a glut of sell orders earlier in the day.

Persons: Kim Kyung, Mark Chadwick, Mariko Katsumura, Jacqueline Wong Organizations: REUTERS, Rights, EV, Thomson Locations: Tokyo, Japan, China, Kyoto

Toyota Motor Corporation's cars are seen at a briefing on the company's strategies on battery EVs in Tokyo, Japan December 14, 2021. The Japan Mobility Show, which opens on Thursday, comes at a critical moment for the domestic industry. Toyota (7203.T), the world's top-selling automaker, this year announced a strategic pivot to battery EVs, including plans to commercialise advanced batteries and adopt die-casting technology pioneered by Tesla (TSLA.O). Toyota's shift has helped silence criticism that it was too slow to embrace battery EVs. In contrast to the darkening outlook in Japan, data from the ASEAN Automotive Federation shows that the auto market in Southeast Asia has been growing.

Persons: Kim Kyung, Koji Endo, Daniel Leussink, David Dolan, Jamie Freed Organizations: Toyota, REUTERS, Companies, Japan, Japan Mobility, Tesla, Subaru, Mazda, Mitsubishi Motors, BYD, HK, BMW, Honda, SBI Securities, Nissan, Mitsubishi, Japan Automobile Manufacturers Association, ASEAN Automotive Federation, EV upstarts, Thomson Locations: Tokyo, Japan, TOKYO, China, Southeast Asia, Thailand

☆ Kioxia has reached out to JIC to invest in merger with Western Digital - Bloomberg News
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: 1 min

Japanese chipmaker Kioxia's products are displayed at its headquarters in Tokyo, Japan, September 30, 2021. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Oct 20 (Reuters) - Kioxia Holdings has reached out to state-backed Japan Industrial Partners (JIC) to invest in a planned merger of its flash memory business with that of Western Digital, Bloomberg News reported on Friday, citing people familiar with the matter. Japan's top banks are set to commit to 1.9 trillion yen ($12.67 billion) in financing to support the merger, Reuters reported on Thursday. read more($1 = 149.9400 yen)Reporting by Rocky Swift; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, Rocky Swift, Christopher Cushing Organizations: REUTERS, Rights, Kioxia Holdings, Japan Industrial Partners, Western Digital, Bloomberg, Reuters, Thomson Locations: Tokyo, Japan

☆ Japan provides up to $80 mln subsidy to moonshot startup ispace
▼ + stars: | 2023-10-20 | by ( Kantaro Komiya | Thomson Reuters | Kantaro Writes About Everything Japan'S Economic Indicators To North Korea'S Missiles To Global Regulation On Ai Companies. His Previous Stories Have Been Published In The Associated Press | ) www.reuters.com time to read: +1 min

A model of the lunar rover in HAKUTO-R lunar exploration program by "ispace" is pictured at a venue to monitor its landing on the Moon, in Tokyo, Japan, April 26, 2023. REUTERS/Kim Kyung-Hoon/File photo Acquire Licensing RightsTOKYO, Oct 20 (Reuters) - Japan will provide a subsidy of up to 12 billion yen ($80 million) to moon exploration startup ispace (9348.T) as part of a grant programme for innovative ventures, industry minister Yasutoshi Nishimura said on Friday. Tokyo-based ispace aims to launch its second moon lander next year and start a NASA-sponsored moonshot in 2026, following its failed first lunar landing attempt in April this year. The grant would not have any material impact on the company's near-term earnings forecast since it relates to a future mission, ispace added. The company has expected to book a net loss of 4.5 billion yen in the current financial period ending in March 2024.

Persons: Kim Kyung, Yasutoshi Nishimura, ispace, Kantaro Komiya, Christopher Cushing, Robert Birsel Organizations: REUTERS, Rights, NASA, Thomson Locations: HAKUTO, Tokyo, Japan

Search resuls for: "Kim Kyung"

25 mentions found