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☆ Japan fund INCJ sells $1.8 bln of Renesas shares
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

Renesas Electronics Corp's logo is pictured at the company's conference in Tokyo, Japan, April 11, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsTOKYO, Nov 10 (Reuters) - Japanese state-backed fund INCJ said it has sold all but a token portion of its stake in semiconductor manufacturer Renesas Electronics (6723.T), offloading 279 billion yen ($1.84 billion) worth of shares. INCJ had previously held 6.65% of Renesas' shares, it said in a statement on Thursday. The sale price of 2,143 yen ($14.17) per share represented a discount of 8.01% on Renesas' closing share price of 2,329.5 yen on Thursday, the fund said in a separate statement on Friday. Renesas' shares had dropped 4.5% to 2,224 yen by mid-morning on Friday.

Persons: Toru Hanai, INCJ, Renesas, Anton Bridge, Christopher Cushing, Muralikumar Organizations: REUTERS, Rights, Renesas Electronics, Thomson Locations: Tokyo, Japan

SummarySummary Companies UPS slips after Teamsters say it walked away from talksModerna climbs on deal to develop mRNA medicines in ChinaChip stocks slide on China's export curbsFed minutes awaited at 2:00 p.m. ETFutures down: Nasdaq 0.51%, S&P 0.42%, Dow 0.42%July 5 (Reuters) - Wall Street futures fell on Wednesday as investors awaited minutes of the Federal Reserve's June meeting for clues on the central bank's monetary policy path, while Sino-U.S. tensions and weak economic data from Beijing dented sentiment. Investors are focused on the Fed minutes, expected to be released around 2 p.m. More economic data, including the non-farm payrolls report on Friday, is scheduled for release this week. ET, Dow e-minis were down 146 points, or 0.42%, S&P 500 e-minis were down 19 points, or 0.42%, and Nasdaq 100 e-minis were down 78 points, or 0.51%.

Persons: Ipek Ozkardeskaya, Goldman Sachs, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Vinay Dwivedi Organizations: Moderna, Dow, Wall, Sino, Microsoft, Investors, Fed, Swissquote Bank, Traders, Nvidia, Micron Technology, Netflix, Wolfspeed Inc, Renesas Electronics Corp, Tesla, Dow e, Nasdaq, United Parcel Service, Teamsters, Rivian, Thomson Locations: China, U.S, Beijing, Washington, Germany, Bengaluru

Investors are focused on the Fed minutes, expected to be released around 2 p.m. Bets for a 25-basis-point rate hike in July stood at 83%, while traders have priced in a 32% chance the U.S. central bank would deliver another hike by October, according to Refinitiv data. "Stocks have accounted for another 25 basis point rate hike when the Fed meets later this month, but a lot of people are divided on whether or not there's going to be another rate hike (after July)." More economic data, including the non-farm payrolls report on Friday, is scheduled for release later this week. Declining issues outnumbered advancers by a 3.73-to-1 ratio on the NYSE and a 2.24-to-1 ratio on the Nasdaq.

Persons: Robert Pavlik, Goldman Sachs, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Vinay Dwivedi Organizations: Netflix, Dow, Nasdaq, Sino, Dakota Wealth, Fed, Traders, U.S, Nvidia, Micron Technology, Semiconductor, SOX, Renesas Electronics Corp, Tesla, Dow Jones, United Parcel Service, Teamsters Union, Moderna, NYSE, Thomson Locations: China, U.S, Beijing, Washington, Philadelphia, Bengaluru

From its original epicentre in the north, including the capital Beijing, COVID-19 infections are spreading throughout the country and cases are impeding workforces in manufacturing belts, including the Yangtze River Delta, near Shanghai. With mass testing halted after China abruptly dropped its zero-COVID policy this month, official data no longer reliably captures new case numbers. Some estimates, however, predict the wave currently sweeping the country could infect up to 60% of China's 1.4 billion-strong population. LOGISTICS LOGJAMLeading automobile chipmaker, Renesas Electronics Corp (6723.T) suspended production at its Beijing plant last Friday due to COVID-19 infections, but said it would re-open Tuesday. For now, however, that impact is being limited in part by economic hardships elsewhere in the world denting demand for products from China.

☆ Renesas halts work at Beijing plant due to COVID spread
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 19 (Reuters) - Japanese chip maker Renesas Electronics Corp (6723.T) suspended work at its Beijing plant on Friday because of COVID-19 infections, and will keep the facility shut for several days, a spokesperson said on Monday. "There won't be much impact for a stoppage that lasts only several days," the spokesperson said. A recent surge in COVID cases in China has hit major urban centres throughout the nation. Renesas is closely watched by investors because it makes around a third of all the microcontroller chips used by the world's carmakers. Reporting by Mayu Sakoda and Tim Kelly; Writing by Elaine Lies; Editing by Edmund Klamann & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

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