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☆ On Malaysia homecoming, Oscar winner Yeoh vows to nurture local film talent
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +2 min

Yeoh, 60, won the Oscar for her portrayal of Chinese American laundromat owner Evelyn Wang in the science-fiction kung fu comedy "Everything Everywhere All at Once". We have to create platforms that will showcase their talent," Yeoh told a news conference before a fan event. Dressed in loose jeans and a white blouse, Yeoh posed for pictures smiling with her Oscar statuette in front of a sign that said "pride of Malaysia". [1/7] Malaysian actress Michelle Yeoh shows her engraved Oscar statuette during a news conference after returning to her home country for the first time since winning her first Oscar for Best Lead Actress, at Kuala Lumpur, Malaysia April 18, 2023. "I heard the roar of joy, happiness all across the world to Los Angeles," she told fans, recalling when the winner was revealed.

☆ Oil steady as market awaits Chinese GDP data
▼ + stars: | 2023-04-17 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

Companies Vanda Pharmaceuticals Inc FollowSINGAPORE, April 17 (Reuters) - Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world's second-largest oil consumer. "Crude prices have defaulted to tracking the daily mood in the broader financial markets" as fears over possible recession continue to cloud the horizon, she added. Further tightening supplies, oil exports from northern Iraq to the Turkish port of Ceyhan remain at a standstill almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorised exports. Rising costs for Middle Eastern crude supplies, which meet more than half of Asia's demand, are already squeezing refiners' margins, prompting them to secure supplies from other regions. The greenback has been strengthening alongside interest rate hikes, making dollar-denominated oil more expensive for holders of other currencies.

☆ Oil steady as market awaits China GDP data
▼ + stars: | 2023-04-17 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

SINGAPORE, April 17 (Reuters) - Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world's second-largest oil consumer. Further tightening supplies, oil exports from northern Iraq to the Turkish port of Ceyhan remain at a standstill almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorised exports. "Weaker refinery margins remain a feature, with the weakness predominantly driven by middle distillates. Stronger crude prices will not be helping margins for refiners either," ING analysts said in a note. The greenback has been strengthening alongside interest rate hikes, making dollar-denominated oil more expensive for holders of other currencies.

☆ Oil holds above $80/bbl on OPEC+ cuts, traders eye China recovery
▼ + stars: | 2023-04-17 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, April 17 (Reuters) - Oil prices edged up on Monday, supported by OPEC+'s plans to cut more output, while investors eyed Chinese economic data for signs of a demand recovery by the world's No. However, the IEA warned in its monthly report that the output cuts announced by OPEC+ producers risk exacerbating an oil supply deficit expected in the second half of the year and could hurt consumers and a global economic recovery. Rising costs for Middle East crude supplies, which meet more than half of Asia's demand, are already squeezing refiners' margins, prompting them to secure supplies from other regions. The greenback has been strengthening alongside interest rate hikes, making dollar-denominated oil more expensive for holders of other currencies. "(That) means some of the supportive tailwinds for crude oil demand from expectations of Fed rate cuts are starting to fade," he added.

☆ It seems that the worst of Asia's trade slowdown is behind us, Morgan Stanley says
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt seems that the worst of Asia's trade slowdown is behind us, Morgan Stanley saysChetan Ahya of the investment bank says, however, that the recovery won't be "V-shaped" like it was in previous cycles.

☆ Asia's growth will outpace both the U.S. and Europe this year, Morgan Stanley says
▼ + stars: | 2023-04-17 | by ( Sumathi Bala | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesAsia's economic growth will outpace both the U.S. and Europe this year, led by strong domestic demand, according to Morgan Stanley. "The big argument that we've been making ... for Asia, including Japan, to outperform versus U.S. and Europe — is the fact that there is domestic demand strength," Chetan Ahya, chief Asia economist, told CNBC's "Street Signs Asia" on Monday. It's going through a rebound like quite nicely because of reopening, but also for fiscal and monetary policy being supportive." Three other large Asian economies — India, Indonesia and Japan — are also showing robust domestic demand, added the economist. The agency pointed out last week that Asia's domestic demand has so far remained strong despite monetary tightening.

☆ Oil holds above $80 per barrel on OPEC+ cuts, traders eye China recovery
▼ + stars: | 2023-04-17 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

☆ Germany to support critical minerals-rich countries build processing capacity
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +1 min

BERLIN, April 16 (Reuters) - Germany wants to help countries that are rich in critical minerals such as Chile, Indonesia and Namibia to build their own processing infrastructure to cut dependency on China, Chancellor Olaf Scholz said on Sunday. Berlin is trying to rebalance its relationship with China and reduce reliance on Asia's powerhouse for key inputs, such as nickel and other critical minerals. Scholz said he supported a free trade agreement between the European Union and Indonesia, which the two parties have been negotiating since 2016. "I am committed to ensuring that we finally get this agreement across the finish line now," he said, adding that geopolitical developments in Europe and in Asia argued for similar deals with other countries such as Mexico and Australia, Kenya and India. Reporting by Riham Alkousaa and Andreas Rinke; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ China says hopes Germany supports peaceful Taiwan 'reunification'
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +2 min

[1/4] German Foreign Minister Annalena Baerbock and Chinese Foreign Minister Qin Gang attend a joint press conference at the Diaoyutai State Guesthouse in Beijing, China, April 14, 2023. Suo Takekuma/Pool via REUTERSBEIJING, April 15 (Reuters) - China's top diplomat Wang Yi "hopes and believes" Germany will support China's "peaceful reunification" with Taiwan, the Chinese foreign ministry said in a statement on Saturday. Wang made the remarks at a meeting with German Foreign Minister Annalena Baerbock, who is visiting China until Saturday, adding that China once supported Germany's reunification. Taiwan's Foreign Ministry said in a statement on Saturday it strongly approved of Baerbock's comments. "The Foreign Ministry thanks many high-level officials in the executive departments of various countries, including Germany, for their solidarity with Taiwan," it said.

☆ Tesla to skip Shanghai Autoshow, organiser's plan shows
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 14 (Reuters) - Tesla will not occupy a booth at China's largest annual autoshow to be held next week in Shanghai, according to plans published by the event's organisers. The financial hub is set to host Auto Shanghai between April 18-27. It is Asia's largest auto show where brands from BYD (002594.SZ) to Volkswagen (VOWG_p.DE) are expected to show off their latest models and technologies. Tesla, which has a large electric vehicle factory in Shanghai, has attended the show in past years. Tesla and Auto Shanghai did not immediately respond to a request for comment when asked about the U.S. automaker's participation at the Shanghai auto show on Friday.

☆ Japan approves Osaka as site of country's first casino
▼ + stars: | 2023-04-14 | by ( Kantaro Komiya | ) www.reuters.com time to read: +2 min

[1/2] The spinning wheel on a roulette table is seen at Japan Casino School in Tokyo, Japan August 4, 2018. Put forth by the city and Osaka prefecture, the project aims to open a casino, conference centre and other facilities in 2029 with 1.8 trillion yen ($13.5 billion) of initial investment. MUFG Bank (8306.T) and Sumitomo Mitsui Banking Corp (8316.T) will provide 550 billion yen in project financing for the resort, the document showed. The national government's decision came after the pro-casino Japan Innovation Party retained both the office of prefectural governor and city mayor in Osaka on Sunday. Japan's casino plans have faced a number of obstacles such as the coronavirus pandemic and a bribery scandal.

☆ Japan approves $13.5 bln Osaka resort, country's first casino
▼ + stars: | 2023-04-14 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

[1/2] The spinning wheel on a roulette table is seen at Japan Casino School in Tokyo, Japan August 4, 2018. U.S. casino operator MGM Resorts International (MGM.N) and local partner Orix Corp (8591.T) have spearheaded the Osaka IR project, with each owning a 40% stake in the company set up to manage the complex. The national government's decision came after the pro-casino Japan Innovation Party retained the prefectural governor and city mayor offices in Osaka on Sunday. Major casino operators Las Vegas Sands Corp (LVS.N), Caesars Entertainment Corp and Wynn Resorts Ltd (WYNN.O) withdrew from planned projects. The government on Friday said it would need more time to review the Nagasaki plan, led by Casinos Austria International.

☆ IMF urges Asia to keep monetary policy tighter for longer
▼ + stars: | 2023-04-13 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

REUTERS/Siphiwe SibekoSummarySummary Companies IMF revises up this year's Asia-Pacific growth f'castChina's reopening to underpin Asia's recoveryImpact of global banking stress on Asia limited - IMFWASHINGTON, April 13 (Reuters) - Asian central banks may need to keep monetary policy "tighter for longer" to combat still substantial inflation risks, senior International Monetary Fund official Krishna Srinivasan said on Thursday. The latest forecast implies the region will contribute over 70% of global growth this year, Srinivasan said. The IMF expects China's economy to expand by 5.2% in 2023, higher than the previous year's 3.0% growth. "China's reopened economy is rebounding strongly, and this will generate positive spillovers to its trading partners, providing fresh momentum for Asia's growth," he said. "Unless strains increase and raise broad-based stability concerns, central banks should separate monetary policy objectives from financial stability goals," he said.

☆ New year revelry returns to Thai streets as tourism rebounds
▼ + stars: | 2023-04-13 | by ( Devjyot Ghoshal | ) www.reuters.com time to read: +2 min

[1/5] People play with water as they celebrate during the Songkran holiday which marks the Thai New Year in Bangkok, Thailand, April 13. Festivities for Songkran, a much-loved Thai festival sometimes described as the world's largest water fight, had been muted or barred for the past few years due mainly to COVID-19 restrictions. ABut as travellers now return to Thailand, the key tourism sector is helping revive Southeast Asia's second-largest economy. Thailand beat its target of 6 million tourist arrivals in the first quarter, recording 6.15 million visitors between January and late March, according to government data. At least 30 million tourists are expected to visit Thailand this year and spend 1.5 trillion baht ($43.74 billion), according to projections by the Tourism Council, an industry body.

☆ England's top soccer clubs agree to ban gambling sponsors on front of matchday shirts
▼ + stars: | 2023-04-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Dwight McNeil (L) and Demarai Gray of Everton during the Premier League match between Manchester United and Everton FC at Old Trafford on April 08, 2023 in Manchester, England. The club's shirts are sponsored by online casino Stake.com. Soccer clubs in England's top-flight Premier League on Thursday agreed not to allow gambling firms to advertise on the front of matchday shirts from the end of the 2025/2026 season. The move comes amid widespread concern and ongoing campaigns to reduce or ban gambling advertising. The Premier League did not immediately respond to a request for comment.

☆ Asia likely to grow 5% faster than developed economies by year-end - Morgan Stanley
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 12 (Reuters) - Asia's economic growth could outpace developed countries' by 5% by end-2023 driven by China's easing of COVID-19 curbs, strong domestic demand and interest rates staying in less-restrictive territory, said Morgan Stanley economists. The recent banking stress in the U.S. and Europe strengthens the case for Asia's outperformance, MS Asia economists, led by Chetan Ahya, said in a note dated Tuesday. "Lending standards will tighten in the U.S. and Europe, and, in turn, weigh on domestic demand," wrote Ahya. A 5% higher growth than developed markets would be the strongest since 2017, MS notes. Additionally, China's reopening distributes benefits to the rest of the region, while Asia's other three large economies – Japan, India and Indonesia – all have economy-specific factors driving domestic demand, MS said.

LAUNCESTON, Australia, April 12 (Reuters) - Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports in March. India was another LNG importer stung by the record high spot prices last year, but is returning to the market as prices retreat. Europe's March LNG imports were 11.49 million tonnes, up from February's 11.37 million, according to Kpler. The question for the market is whether the signs of stronger demand in Europe and among some buyers in Asia will be enough to spark a renewed rally in spot prices. And if spot prices do head higher, how quickly will that translate to lower demand from price-sensitive buyers in Asia such as India and Pakistan.

The firm debut by Harita Nickel could boost sentiment surrounding upcoming IPOs in Indonesia, which is one of the world's hottest IPO markets this year on a drive by the government to privatise some state-owned enterprises. Harita Nickel's stock opened at 1,285 rupiah per share, slightly higher than its initial public offering (IPO) price of 1,250 rupiah a share, on the Indonesian stock exchange. The IPO comes at a time when nickel-rich Indonesia steps up efforts to become a major player in the electric vehicle industry. Harita Nickel's peer Merdeka Battery Materials is scheduled to debut on the local bourse next, on April 18, after raising 8.75 trillion rupiah. Harita Nickel's IPO was the largest in Indonesia in almost a year after the $1.1 billion listing of tech firm GoTo (GOTO.JK) in April.

☆ Asia is aging rapidly. Strategists reveal stocks to cash in — including tech
▼ + stars: | 2023-04-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

He recommended the Global X Aging Population ETF , which includes not just health-care companies and pharmaceutical firms, but also wearables and medical device companies such as Cochlear, GN Store Nord and Teleflex. China's 'very promising bets' Investors can look to focus on China's aging population by market reach or income segment, according to Leverage Shares' Rao. As for investors looking to get exposure to China's wealthier income segment, he named Raffles Medical, Asian Healthcare Specialists and IHH Healthcare — stocks that will also give similar exposure in other Asian countries. Dividend payers and financial services High-dividend-paying stocks as well as financial services are set to benefit from the aging population, according to analysts. Another potential beneficiary of aging populations is financial services, according to Rob Clarry, investment strategist at wealth manager Evelyn Partners.

The short-lived fight nonetheless underscores the lengths at which scrappy restaurant operators will go to chase consumer dollars. For restaurants that have been open longer than 13 months, Chipotle’s sales grew faster than Sweetgreen’s in the fourth quarter. Sweetgreen billed itself as a tech innovator when it first went public and acquired robotic-kitchen company Spyce back in 2021. Follow on @sharonlam_ TwitterCONTEXT NEWSChipotle Mexican Grill sued rival U.S. take-out chain Sweetgreen for violating its trademarks rights in a similarly branded burrito bowl on April 4, leading to a prompt settlement. Chipotle had argued that Sweetgreen’s “Chipotle Chicken Burrito Bowl” violated its trademark rights.

The short-lived fight nonetheless underscores the lengths at which scrappy restaurant operators will go to chase consumer dollars. For restaurants that have been open longer than 13 months, Chipotle’s sales grew faster than Sweetgreen’s in the fourth quarter. That could explain why Chipotle’s valuation, at nearly 5 times forward sales, is more than double that of Sweetgreen’s. Follow on @sharonlam_ TwitterCONTEXT NEWSChipotle Mexican Grill sued rival U.S. take-out chain Sweetgreen for violating its trademarks rights in a similarly branded burrito bowl on April 4, leading to a prompt settlement. Chipotle had argued that Sweetgreen’s “Chipotle Chicken Burrito Bowl” violated its trademark rights.

☆ CNBC Daily Open: Reality settles in
▼ + stars: | 2023-04-06 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The 10-year Treasury yield also fell to its lowest since mid-September, and its spread with the 3-month Treasury yield maintained wide levels. And we'll see what European leaders have to say as they visit Beijing to denounce Russia's invasion, following Chinese President Xi Jinping's visit with Russian President Vladimir Putin. Subscribe here to get this report sent directly to your inbox each morning before markets open.

LAUNCESTON, Australia, April 6 (Reuters) - Asia's imports of crude oil stayed at relatively robust levels in March, as strong inflows to the top-importing region's heavyweights China and India offset weaker demand among some others buyers. Total March crude imports were estimated by Refinitiv Oil Research at 116.73 million tonnes, equivalent to 27.60 million barrels per day (bpd). This was up almost 4% from February's 112.32 million tonnes, but down 6.1% on a daily basis from February's 29.4 million bpd, and also below January's 29.13 million bpd. However, the first three months of 2023 were stronger than every month in 2022, except for November when Asia's crude imports were 29.10 million bpd. Saudi Arabia reclaimed its place as China's top supplier with 8.08 million tonnes, or a share of 16.4%, edging out Russia at 7.95 million tonnes, or a share of 16.1%.

☆ Chinese officials step up foreign travel in race to find investors
▼ + stars: | 2023-04-06 | by ( Clare Jim | ) www.reuters.com time to read: +5 min

Their urgency highlights the pressure local governments face in boosting growth while burdened with cumulative debt of $9 trillion, said the sources who met Chinese officials in Hong Kong. The other executive and Yim said they had often attended as many as eight to 10 events a day with Chinese officials. Fengze, a district in the nearby city of Quanzhou, signed up procurement deals of up to 30 billion yuan from Hong Kong, the city's social media accounts showed. Shenzhen’s Boao district alone aims to attract 100 billion yuan in foreign investment this year, with 26 business managers and 10 officials responsible for key streets committing themselves to the task in a letter, Chinese media said. ($1=6.8810 Chinese yuan renminbi)Reporting by Clare Jim; Editing by Marius Zaharia and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

April 6 (Reuters) - There will be no Asia Morning Bid on Friday, April 7. Chinese services PMI and Australian trade figures are also on the docket Thursday, while remarks from Reserve Bank of Australia governor Philip Lowe on could shed further light on the RBA's outlook following Tuesday's policy decision. chartIt's a difficult one to call, and after the Reserve Bank of New Zealand's hawkish surprise on Wednesday, investors would do well to be humble in their predictions. Wall Street is finally buckling, rates markets are now gunning for almost 100 basis points of Fed rate cuts this year and the dollar is sagging. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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