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☆ Buffett says geopolitics a factor in Berkshire sale of TSMC stake
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Warren Buffett called geopolitical tensions "a consideration" in Berkshire Hathaway Inc's (BRKa.N) decision to sell most of its stake in Taiwanese chipmaker TSMC (2330.TW) just a few months after buying it, Nikkei reported on Tuesday. Berkshire had bought more than $4.1 billion of Taiwan Semiconductor Manufacturing Co's shares between July and September 2022, but in February said it had sold 86% of its stake by year-end. The size of the investment suggested that Buffett, rather than one of his Berkshire portfolio managers, had bought the shares for Berkshire, and the sale was unexpected given the billionaire's preference to invest for the long-term. In an interview with Nikkei, Buffett described TSMC as a well-managed company, but said Berkshire had better places to deploy capital. Buffett was in Japan to meet with five Japanese trading houses in which Berkshire invests.

BEIJING/TAIPEI, April 11 (Reuters) - China's latest military drills near Taiwan show it is serious about being able to cut off the democratically ruled island in a conflict, analysts said, as Beijing said its aircraft carriers could "shatter" defences from the east. 1) Carrier OperationsMany analysts noted the jets flying off the Shandong aircraft carrier, which took up position east of Taiwan, about 230 kilometres (143 miles) south of Japan's Miyajima island. The aim of the drills was to show that they could encircle Taiwan in a blockade and deter foreign powers from intervening, Zhao said. 3) Precision TargetingThe PLA also said it carried out virtual simulations showing how its forces could execute targeted missile attacks on Taiwan. Japan's military said in a briefing on Tuesday that it was assessing China's manoeuvres around Taiwan, but described them as "without question, serious training".

☆ Taiwan Foreign Minister Joseph Wu: Military exercises suggest China is getting 'ready to launch a war against Taiwan'
▼ + stars: | 2023-04-11 | by ( Jim Sciutto | ) edition.cnn.com time to read: +4 min

And no matter whether it is 2025 or 2027 or even beyond, Taiwan simply needs to get ready,” he said. The exercises appeared to mark the first time the Chinese navy has simulated strikes by aircraft carrier-based warplanes on Taiwan. And China cannot dictate how our friends want to show support to Taiwan.”Beijing conducted similar large-scale military exercises around Taiwan last August, after then-US House Speaker Nancy Pelosi visited the island. Those exercises included Chinese missile launches over the island, something that has not been seen so far in the current drills. Taiwan and China have been governed separately since the end of a civil war more than seven decades ago, in which the defeated Nationalists fled to Taipei.

☆ Photo catches Taiwan pilot with a patch of Winnie the Pooh getting punched in the face — a jab at China's Xi as Beijing ups the pressure
▼ + stars: | 2023-04-11 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Amid this, Taiwan's defense ministry published a photo of a patch worn by fighter pilots. The patch depicts a cartoon Winnie the Pooh getting punched by a bear — a dig at Xi Jinping. Her visit stoked ire in Beijing, with China's defense ministry calling it "provocative." Beijing's defense ministry said the war games — dubbed "Joint Sword" — are meant to be a "stern warning" to Taiwan, which sharply criticized the exercises. #ROCArmedForces have monitored the situation and tasked CAP aircraft, Navy vessels, and land-based missile systems to respond these activities," Taiwan's defense ministry wrote in a statement posted to social media.

☆ Wall Street meanders, dollar gains as Fed rate hike seen in May
▼ + stars: | 2023-04-10 | by ( Herbert Lash | ) www.reuters.com time to read: +4 min

"My sense is that the labor market and CPI would favor the Fed raising rates again. However, what has made the market have second thoughts is the extent of the tightening of lending." The dollar index rose 0.52% and the two-year Treasury yield, which typically moves in step with interest rate expectations, added 4.2 basis points to 4.014%. On Wall Street, the Dow Jones Industrial Average (.DJI) rose 0.3%, the S&P 500 (.SPX) gained 0.10% and the Nasdaq Composite (.IXIC) dropped 0.03%. The dollar extended gains against the yen to 133.87 , the highest since March 15, on receding expectations of a near-term tweak to Japan's ultra-loose monetary policy.

☆ Asian shares muted, dollar buoyant on odds of rate rise
▼ + stars: | 2023-04-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.12% higher, while Japan's Nikkei (.N225) gained 0.5%. Traders have increasingly become convinced that the Fed will cut rates in the second half to ward off an economic downturn. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, eased to 3.951%, after closing at 3.993% on Friday's abbreviated trading. A closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes , seen as an indicator of economic expectations, was at -57.7 basis points. The yen weakened 0.41% to 132.69 per dollar as Japan's new central bank governor Kazuo Ueda takes over from Haruhiko Kuroda.

☆ Yen sinks as rates outlook diverges; NZ dollar tumbles
▼ + stars: | 2023-04-10 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The yen slipped 0.4% against the U.S. dollar to 132.70, extending its decline from Friday, when data showed the U.S. economy continued to add jobs at a brisk pace in March. The yield remained elevated at 3.3719% in Tokyo on Monday, when many markets in Asia as well as Europe will remain closed. Against the euro , the yen slumped over 0.5% to 144.635. Barring an upside surprise in U.S. consumer price data on Wednesday, the dollar has limited room to rise against the yen from current levels, they added. Meanwhile, the New Zealand dollar slumped about 0.7% to $0.62325, and the Aussie slipped 0.13% to $0.6665.

☆ Yen sinks as rates outlook diverges; NZ dollar slides
▼ + stars: | 2023-04-10 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

Meanwhile, the risk-sensitive New Zealand and Australian dollars weakened amid heightened U.S.-China tensions over Taiwan, with Beijing a key trading partner for the Antipodean nations. The yen slipped 0.3% against the U.S. dollar to 132.47, extending a similar-sized decline from Friday, when data showed the U.S. economy continued to add jobs at a brisk pace in March. The yield remained elevated at 3.3776% in Tokyo on Monday, when many markets in Asia as well as Europe will remain closed. Barring an upside surprise in U.S. consumer price data on Wednesday, the dollar has limited room to rise against the yen from current levels, they added. Meanwhile, the New Zealand dollar slumped 0.6% to $0.6238, and the Aussie slipped 0.21% to $0.6660.

☆ Yen sinks as rates outlook diverges; New Zealand dollar tumbles
▼ + stars: | 2023-04-10 | by ( ) www.cnbc.com time to read: +2 min

Yen, euro and U.S. dollar banknotes of various denominations. Meanwhile, the risk-sensitive New Zealand and Australian dollars weakened amid heightened U.S.-China tensions over Taiwan, with Beijing a key trading partner for the Antipodean nations. The yen slipped 0.4% against the U.S. dollar to 132.70, extending its decline from Friday, when data showed the U.S. economy continued to add jobs at a brisk pace in March. Barring an upside surprise in U.S. consumer price data on Wednesday, the dollar has limited room to rise against the yen from current levels, they added. Meanwhile, the New Zealand dollar slumped about 0.7% to $0.62325, and the Aussie slipped 0.13% to $0.6665.

☆ Japan, China meet to discuss maritime concerns as Beijing simulates attack on Taiwan
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

TOKYO, April 10 (Reuters) - Senior Japanese and Chinese government officials met on Monday to discuss maritime concerns in disputed waters in the East China Sea as Beijing conducted wargames around Taiwan. Prior to the start of the talks, a top Japanese government spokesperson said Japan has been following China's military drills around Taiwan consistently and "with great interest". Beijing considers Taiwan as a part of China and regards meetings between senior U.S. and Taiwanese officials as interference in its internal affairs. He also asked Japan to pull its ships back from the seas around islands in the East China Sea claimed by both countries. China and Japan last month established a military communications hotline to help them defuse any air and sea incidents in the contested waters.

☆ Taiwan president slams 'irresponsible' China military drills
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, April 11 (Reuters) - China's military exercises have caused instability in Taiwan and the region and are irresponsible acts for a major country, Taiwan President Tsai Ing-wen wrote on Facebook after Beijing ended three days of drills around the island. China began the war games on Saturday after Tsai returned to Taipei following a meeting in Los Angeles with U.S. House of Representatives Speaker Kevin McCarthy. "However, China used this to launch military exercises, causing instability in Taiwan and the region. China simulated precision attacks and blockades of Taiwan during the drills, sending up dozens of fighter jets and bombers. "Although China's military exercises have come to an end, the nation's military and national security team will continue to stick to their posts and defend the country," she added.

Eastern Theatre Command/Handout via REUTERSTOKYO/TAIPEI, April 10 (Reuters) - Japan has been following China's military drills around Taiwan consistently and "with great interest", a top government spokesperson said on Monday, on the last scheduled day for the exercises where Beijing has simulated striking the island. China claims democratically-governed Taiwan as its own territory and has never renounced the use of force to bring the island under Beijing's control. Japan has long worried about China's military activities in the area given how close its southern islands are to Taiwan. The United States has said it is also watching China's drills closely. China's military simulated precision strikes against Taiwan in the second day of drills around the island on Sunday.

☆ The Chinese military posted an animated video simulating how China's forces would attack Taiwan if war breaks out
▼ + stars: | 2023-04-10 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

An animated video from the Chinese military shows how China's forces could attack Taiwan. The video showed a targeted, multi-prong assault on Taiwan executed by aircraft and navy vessels. An animated video from the Chinese military's Eastern Theatre Command's official WeChat account was re-posted to Twitter by the state-linked media outlet Global Times. Taiwan's Ministry of Defense said in a statement on Monday that 70 Chinese aircraft and 11 Chinese navy vessels encircled the island on Monday morning. But China considers Taiwan as part of its territory, a breakaway province with a democratic government that poses a threat to China's Communist Party.

[1/5] Alec Hsu shows to the camera patches depicting a Formosan black bear holding Taiwan’s flag and punching Winnie the Pooh at his store in Taoyuan, Taiwan April 10, 2023. The patch shows an angry Formosan black bear holding Taiwan's flag and punching Winnie the Pooh, with the slogan "Scramble!" The endangered Formosan black bear is seen as a symbol of Taiwanese identity. China claims democratically governed Taiwan as its own territory and has not ruled out taking the island by force. While the Winnie the Pooh patch cannot be found on Chinese social media, Beijing has also been promoting videos and commentary about its drills around Taiwan.

The dramatic escalation in China-Taiwan tensions will loom large over Asia on Monday, potentially cranking up market volatility in a session with trading volume already likely to be reduced with much of Europe closed for the Easter Monday holiday. On the economic data front on Monday, Japanese current account figures for February and the possible release of Chinese credit, loan growth and money supply data for March could divert investors' attention away from the geopolitics. chartchartGlobally, market direction this week will be driven in part by March U.S. consumer price inflation on Wednesday. chartThe first-quarter U.S. earnings season gets underway this week too, with major banks including JPMorgan and Citigroup out on Friday. More immediately though, attention on Monday will be fixed on the final day of China's three-day military drills around Taiwan.

For years, Chinese fishermen trawling for fish, shrimp and crab have played cat and mouse with Taiwanese authorities as they closely track boats that near the median line of the Taiwan Strait. MEDIAN LINEOn Saturday, Taipei said more than 40 Chinese planes crossed the Taiwan Strait's "median line", which Beijing does not recognise. Deteriorating relations have made Chinese fishermen more afraid of approaching the line. Several times last year, Taiwan's coast guard detained Chinese fishing crew members, citing illegal trawling, according to official statements. ($1 = 6.8681 Chinese yuan renminbi)Reporting by Josh Arslan and Thomas Peter; Writing by Ella Cao and Ryan Woo.

☆ U.S. says it's monitoring China's drills around Taiwan as Beijing kicked off 3 days of military drills
▼ + stars: | 2023-04-09 | by ( ) www.cnbc.com time to read: +1 min

Two Chinese military helicopters fly past a PLA Navy tugboat, as seen from Pingtan island, the closest point to Taiwan, in China's southeast Fujian province on April 7, 2023. The U.S. says it's closely monitoring China's drills around Taiwan after Beijing began three days of military exercises around the island. The United States is monitoring China's drills around Taiwan closely and is "comfortable and confident" it has sufficient resources and capabilities regionally to ensure peace and stability, the de facto U.S. embassy in Taiwan said on Sunday. China, which claims democratically governed Taiwan as its own territory, began three days of military exercises around the island on Saturday, the day after Taiwan President Tsai Ing-wen returned from the United States. "We are monitoring Beijing's actions closely," said a spokesperson for the American Institute in Taiwan, which serves as the United States' de facto embassy in the absence of formal diplomatic ties.

☆ Macron says Europe should not follow U.S. or Chinese policy over Taiwan
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +2 min

April 9 (Reuters) - French President Emmanuel Macron said in comments published on Sunday that Europe had no interest in an acceleration of the crisis over Taiwan and should pursue a strategy independent of both Washington and Beijing. Macron has just returned from a three-day state visit to China, where he received a warm welcome from President Xi Jinping. "The worst thing would be to think that we Europeans must become followers on this topic and adapt to the American rhythm or a Chinese overreaction," Politico quoted him as saying. On Friday, an adviser to Macron told reporters in Guangzhou that Xi and Macron had a "dense and frank" discussion on the issue of Taiwan during their meetings. Macron travelled to China with a 50-strong business delegation including Airbus and nuclear energy producer EDF, which signed deals during the visit.

☆ China’s Military Greets Return of Taiwan’s President With Live-Fire Drills
▼ + stars: | 2023-04-08 | by ( Joyu Wang | Frances Yoon | ) www.wsj.com time to read: 1 min

TAIPEI—China’s military launched exercises around Taiwan in an apparent escalation of its response to an international tour by the self-governing island’s president that included highly scrutinized stops in the U.S. Hours after President Tsai Ing-wen returned to Taiwan on Friday night, Chinese maritime safety authorities said the country’s navy planned to conduct seven live-fire exercises over the course of 12 days off the coast of Fujian province, which faces Taiwan, starting Saturday morning.

☆ China's military encircles Taiwan in new drills following its president's visit to the US
▼ + stars: | 2023-04-08 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

China's military has encircled Taiwan during three days of "combat readiness patrols." The move follows Taiwanese President Tsai Ing-wen's visit to the US. China has described the drills as a "stern warning against the collusion between separatist forces." House Speaker Kevin McCarthy, R-Calif., second from right, welcomes Taiwanese President Tsai Ing-wen as she arrives at the Ronald Reagan Presidential Library in Simi Valley, Calif., on April 5, 2023. McCarthy said, "America's support for the people of Taiwan will remain resolute, unwavering, and bipartisan," per AP.

☆ Chinese planes cross Taiwan Strait median line, start drills
▼ + stars: | 2023-04-08 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsChinese planes cross Taiwan Strait median line, start drillsPostedChinese fighter jets briefly crossed the sensitive median line of the Taiwan Strait on Saturday as China began drills around Taiwan in anger at President Tsai Ing-wen's meeting with the speaker of the U.S. House of Representatives. Lauren Anthony reports.

☆ China announces drills around Taiwan after US Speaker meeting
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +3 min

REUTERS/David Swanson/File PhotoBEIJING, April 8 (Reuters) - China will hold three days of military exercises around Taiwan from Saturday, the People's Liberation Army's Eastern Theatre Command announced, the day after Taiwan President Tsai Ing-wen returned from a trip to the United States. Tsai met U.S. House of Representatives Speaker Kevin McCarthy while in Los Angeles on Wednesday, angering Beijing, which views Taiwan as its own territory. Beijing staged war games around Taiwan, including live fire missile launches, in August after then-House Speaker Nancy Pelosi visited Taipei. Then, China published a map at the same time as its announcement of the drills showing which maritime areas near Taiwan it would be firing into. Xi responded by saying that expecting China to compromise on Taiwan was "wishful thinking", according to China's official reading of the meeting.

[1/4] A Chinese warship fires at a target during a military drill near Fuzhou, Fujian Province, near the Taiwan-controlled Matsu Islands that are close to the Chinese coast, China, April 8, 2023. REUTERS/Thomas PeterFUZHOU, China, April 8 (Reuters) - A Chinese warship in seas facing the Taiwan Strait began live-fire drills on Saturday as Beijing began military exercises it calls a warning against what it considers pro-Taiwan independence forces. China views democratically governed Taiwan as its own territory and has never renounced the use of force to bring the island under its control. Smoke and muzzle flares were visible from the stern of the warship as shells were fired on targets on land and water. When asked about Taiwan, Zhao said he hopes the two sides could "reunite" as quickly as possible.

SummarySummary Companies China starts three days of drills around TaiwanTaiwan says 71 Chinese planes crossed Taiwan Strait median lineTaiwan says it will respond calmlyChina angered by Taiwan president meeting U.S. House SpeakerAnnouncement comes shortly after French president left ChinaFUZHOU, China/TAIPEI, April 8 (Reuters) - Seventy-one Chinese military aircraft crossed the sensitive median line of the Taiwan Strait on Saturday as China began drills around Taiwan in anger at President Tsai Ing-wen's meeting with the speaker of the U.S. House of Representatives. The People's Liberation Army said it had started the combat readiness patrols and "Joint Sword" exercises around Taiwan, having said earlier it would be holding them in the Taiwan Strait and to the north, south and east of Taiwan "as planned". SITUATION 'AS EXPECTED'There was no broader sense of alarm in Taiwan about the drills, where people are long accustomed to Chinese threats. European Union chief Ursula von der Leyen, also in China this week to meet Xi, said stability in the Taiwan Strait was of paramount importance. The Taiwan security source said China's recent efforts to charm foreign leaders proved in vain after the announcement of the drills.

☆ China starts drills around Taiwan after U.S. Speaker meeting
▼ + stars: | 2023-04-08 | by ( ) www.cnbc.com time to read: +1 min

Taiwan's president Tsai Ing-wen at an event with U.S. House Speaker Kevin McCarthy, a Republican from California, at the Ronald Reagan Presidential Library in Simi Valley, California, on April 5, 2023. China began three days of military exercises around Taiwan on Saturday to express anger at Taiwan President Tsai Ing-wen's meeting with the speaker of the U.S. House of Representatives, as the island's defense ministry said it would respond calmly. The drills, announced the day after Tsai returned from the United States, had been widely expected after China condemned the meeting with Speaker Kevin McCarthy in Los Angeles. China views democratically governed Taiwan as its own territory and has never renounced the use of force to bring the island under its control. China was using Tsai's U.S. visit "as an excuse to carry out military exercises, which has seriously damaged regional peace, stability and security," the ministry said in a statement.

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