Asia markets mixed as China vows support for ailing property market

[ad_1] South Korea’s gross domestic product grows 0.9% in second quarter South Korea’s gross domestic product grew 0.9% year-on-year in the second quarter of 2023, according to advance estimates. This was unchanged from the 0.9% seen in the first quarter, and beat the 0.8% estimate by economists polled by Reuters. On a quarter to quarter … Read more

TSMC reports first profit drop in 4 years as electronics demand slump continues

[ad_1] A woman walks past a Taiwan Semiconductor Manufacturing Company (TSMC) logo at the Hsinchu Science Park in Hsinchu on July 5, 2023. (Photo by Sam Yeh / AFP) (Photo by SAM YEH/AFP via Getty Images) Sam Yeh | Afp | Getty Images Taiwan Semiconductor Manufacturing Company, the world’s largest chipmaker, posted a second-quarter profit … Read more

Singapore’s ‘squeaky clean’ image takes a beating as scandals rock the government

[ad_1] SINGAPORE – SEPTEMBER 11: Prime Minister and People’s Action Party (PAP) Secretary General, Lee Hsien Loong (L) and Dr Koh Poh Koon (R) celebrate after winning their seat for Ang Mo Kio Group Representation Constituency (GRC) on September 11, 2015 in Singapore. Suhaimi Abdullah | Getty Images News | Getty Images SINGAPORE — Political … Read more

Two Singapore lawmakers resign after admitting to ‘inappropriate relationship’

[ad_1] Lee Hsien Loong, Singapore’s prime minister and leader of the People’s Action Party (PAP), walks and talks with people in Singapore on Saturday, Sept. 5, 2015. Nicky Loh | Bloomberg via Getty Images Singapore’s government was dealt a further blow on Monday, following the resignations of two lawmakers from the ruling party who admitted … Read more

China June new home prices flat in weakest showing this year

[ad_1] High-rise buildings in downtown Shanghai, China, on March 12, 2018. China cut its benchmark reference rate for mortgages by an unexpectedly wide margin on Friday, its second cut this year as Beijing seeks to revive the ailing housing sector to prop up the economy. Johannes Eisele | Afp | Getty Images China’s new home … Read more

From Taylor Swift to the World Cup, travelers are paying big bucks to catch overseas games and shows

[ad_1] When Taylor Swift’s Eras tour rolls into Singapore next year, Rjay Ignacio said he’ll be there — whether he has a ticket or not. “Taylor Swift has a huge fan base in Asia,” the YouTube content creator from Pasig City, Philippines said. “So the probability is very small to get a ticket.” But that’s … Read more

Yellen says ‘direct’ and ‘productive’ Beijing talks a step forward in putting U.S.-China ties on ‘surer footing’

[ad_1] U.S. Treasury Secretary Janet Yellen addresses journalists in a press conference July 9 capping her four-day Beijing visit. She said “direct, substantive and productive” talks have set relations between the world’s two largest economies on a “surer footing.” Pedro Pardo | Afp | Getty Images U.S. Treasury Secretary Janet Yellen said 10 hours of … Read more

China imposes export curbs on chipmaking metals in tech war with the U.S, Europe

[ad_1] China is restricting the exports of gallium and germanium, two metals key to the manufacturing of semiconductors, its commerce ministry said in a statement late on July 3, escalating a technological trade war over access to microchips with Europe and the United States. Nurphoto | Nurphoto | Getty Images China is restricting the exports … Read more

India’s HDFC Bank completes $40 billion takeover of the country’s largest mortgage lender. Here’s what it means

[ad_1] A HDFC Bank branch in Mumbai, India, on Friday, April 14, 2023. Bloomberg | Bloomberg | Getty Images India’s largest private lender HDFC Bank has completed its merger with Housing Development Finance Corporation, the country’s biggest mortgage lender, in a deal that pits the new entity against the world’s largest banks. The merger took … Read more

China’s manufacturing activity shrinks again, casting a shadow on recovery hopes

[ad_1] Factory activity in China in June contracted for a third month, official data released June 30, 2023 show. Weak China economic data in April and May have fanned calls for economic stimulus for the world’s second-largest economy. Future Publishing | Future Publishing | Getty Images China’s factory activity in June contracted for a third … Read more