RSS Breaking News - Asia

S Korea April department store sales fall vs year ago

Thu, 23 May 2013 07:00:00 GMT

May 23, 2013 7:00 AM

[SEOUL] Sales at South Korea's top department store and discount store chains both fell in April from a year earlier for the first time in three months, underscoring shaky consumer confidence.

China milk powder firms court foreign cachet for domestic gains

Thu, 23 May 2013 06:59:00 GMT

May 23, 2013 6:59 AM

[SHANGHAI] The rolling green hills and gurgling blonde toddlers in the ads for Yashili International Holdings Ltd underscore how keen China's biggest milk powder producers are to appear global to emerge from the shadow of a fatal baby formula scandal.

China to lend US$580m for Sri Lanka development projects

Thu, 23 May 2013 06:32:00 GMT

May 23, 2013 6:32 AM

[COLOMBO] China Development Bank Corporation will lend US$580 million to Sri Lanka to help implement key infrastructure projects, a government document released on Wednesday showed.

India set to resume oilmeal exports to China: trade body

Wed, 22 May 2013 23:01:00 GMT

May 22, 2013 11:01 PM

[NEW DELHI] India is on course to resume oilmeal exports to China, after Beijing agreed in principle to lift a ban that it imposed last year citing traces of a hazardous chemical, an industry body chief said on Wednesday.

Fallout spreads in Hong Kong over shut-down Mercantile Exchange

Wed, 22 May 2013 22:32:00 GMT

May 22, 2013 10:32 PM

[HONG KONG] A close political ally of Hong Kong's chief executive has vowed to cooperate with an investigation into the shuttered Hong Kong Mercantile Exchange after the city's financial watchdog said it had alerted the police to "serious irregularities".

Chinese PM pledges stronger partnership with Pakistan

Wed, 22 May 2013 20:25:00 GMT

May 22, 2013 8:25 PM

[ISLAMABAD] Chinese Premier Li Keqiang vowed to strengthen his country's partnership with Pakistan on Wednesday as he began an official visit less than a fortnight after the country's general election.

Equity investors flock to Japan funds, exit emerging markets: Lipper

Wed, 22 May 2013 20:22:00 GMT

May 22, 2013 8:22 PM

[LONDON] Equity investors piled a net US$9.1 billion into Japan mutual funds and ETFs last month, while exiting some emerging markets, showing continued support for"Abenomics" - Japan's efforts to revitalise economic growth.

Japan mulls resuming talks with N. Korea: official

Wed, 22 May 2013 18:48:00 GMT

May 22, 2013 6:48 PM

[TOKYO] Japan is considering direct talks with North Korea, the government said on Wednesday, adding momentum to the cause after a top level aide to the prime minister made a surprise trip to Pyongyang.

Profit growth moderates for China state firms in Jan-April

Wed, 22 May 2013 18:34:00 GMT

May 22, 2013 6:34 PM

[BEIJING] Profit growth at China's state-owned companies cooled in the first four months of the year, government data showed on Wednesday, underscoring a faltering recovery in the world's second-biggest economy.

Gold bar premiums in Asia hit record highs on China demand

Wed, 22 May 2013 17:26:00 GMT

May 22, 2013 5:26 PM

[SINGAPORE] Gold bars premiums hit a record high in Asia as lower spot gold prices wooed more buyers mainly in China, the world's second biggest gold consumer, amid tight physical supplies.

Indonesian MPs say proposed new bank law should limit foreign ownership

Wed, 22 May 2013 16:53:00 GMT

May 22, 2013 4:53 PM

[JAKARTA] Indonesian MPs said they want a new banking law, under discussion since late last year, to limit foreign ownership to a maximum of 50 to 51 per cent and suggested it could make it to the statute books by next year.

China Property Digest: Home prices keep rising despite new curbs

Wed, 22 May 2013 16:31:00 GMT

May 22, 2013 4:31 PM

[BEIJING] China's home prices are still on the rise despite stricter measures by the central government and major cities in the past few weeks to calm frothy real estate market.

China banks curb loans to commodities firms in hot-money battle

Wed, 22 May 2013 16:01:00 GMT

May 22, 2013 4:01 PM

[SHANGHAI/HONG KONG] Chinese commodities firms importing everything from gold and rubber to base metals are struggling to get trade loans as banks scrutinise their activities and hold back credit following Beijing's orders to rein in currency speculation.

China mining services firm plans Australia IPO

Wed, 22 May 2013 15:54:00 GMT

May 22, 2013 3:54 PM

[SYDNEY] Chinese mining services company Sino Australia Oil and Gas Ltd is planning an initial public offering in Australia in July, tapping international investors while domestic markets remain frozen, and braving an uncertain outlook for the sector.

Indonesia wants a fuel price increase in June: FinMin

Wed, 22 May 2013 13:37:00 GMT

May 22, 2013 1:37 PM

[JAKARTA] Indonesia's new finance minister said the government wants to increase fuel prices next month and proposed additional compensation in this year's budget to help protect the poor from the impact of the rise.

CIMB rises after strong Q1 earnings

Wed, 22 May 2013 12:17:00 GMT

May 22, 2013 12:17 PM

Shares in CIMB Group Berhad, southeast Asia's fifth-largest bank by assets, were up after its first quarter results came in higher than expected.

Bank of Japan says no new easing measures

Wed, 22 May 2013 12:16:00 GMT

May 22, 2013 12:16 PM

[TOKYO] The Bank of Japan on Wednesday held off fresh easing measures, saying after a two-day policy meeting that a continuation of steps introduced last month would help Japan overcome deflation.

Update: HK's rainstorm warning cancelled, trading resumes at 1pm

Wed, 22 May 2013 11:16:00 GMT

May 22, 2013 11:16 AM

Trading in Hong Kong's securities and derivatives markets will resume from 1pm, after the cancellation of the Black Rainstorm Warning on Wednesday morning.

China's May lending seen to reach 900b yuan: paper

Wed, 22 May 2013 10:31:00 GMT

May 22, 2013 10:31 AM

[SHANGHAI] China's four major banks issued new loans of 233 billion yuan (US$37.98 billion) by May 21st, 21st Century Business Herald reported on Wednesday, citing industry sources, adding that total loans for the month could reach 900 billion yuan.

Update: Black rainstorm warning disrupts HKEx, court hearings, flights in Hong Kong

Wed, 22 May 2013 09:28:00 GMT

May 22, 2013 9:28 AM

Hong Kong Exchanges and Clearing Ltd (HKEx) on Wednesday announced that the morning trading sessions of both its securities and derivatives markets have been delayed due to the issuance of the Black Rainstorm Warning.

Update: Sony shares hit 2-yr high on report of spin-off proposal

Wed, 22 May 2013 09:10:00 GMT

May 22, 2013 9:10 AM

[TOKYO] Shares of Sony Corp rose 6.3 per cent to 2,300 yen, a two-year high, on Wednesday after the Nikkei newspaper reported Sony is considering evaluating a proposal from top shareholder Third Point LLC to spin off its movie and music business.- Reuters

HK markets delay open due to Black Rainstorm warning

Wed, 22 May 2013 08:38:00 GMT

May 22, 2013 8:38 AM

Japan April exports rise 3.8% y/y: MOF

Wed, 22 May 2013 08:07:00 GMT

May 22, 2013 8:07 AM

[TOKYO] Japanese exports rose 3.8 per cent in April from a year earlier, marking a second straight month of gains, Ministry of Finance data showed on Wednesday, in a sign that a weaker yen and a pickup in global demand are helping the export-reliant economy.

With wary eye on the US, China courts India

Wed, 22 May 2013 07:00:00 GMT

May 22, 2013 7:00 AM

[NEW DELHI] Chinese Premier Li Keqiang, smiling and effusive, was out to smooth ruffled feathers in India this week, promising to ease tensions and increase trade between Asia's fastest growing economies in his first trip overseas since taking office.

BOJ may seek to ease bond market jitters, policy seen on hold

Wed, 22 May 2013 06:55:00 GMT

May 22, 2013 6:55 AM

[TOKYO] The Bank of Japan is expected to stand pat on monetary policy on Wednesday despite jitters over the recent volatility in bond markets, hoping it can prevent a renewed spike in yields by fine-tuning market operations.