Posts by Yurie Miyazawa
Euro at three-month low, yen under pressure
THE US dollar climbed above 152 yen for the first time since late July on Wednesday (Oct 23) and pushed the euro to an over three-month low, supported by expectations the Fed won’t rush to cut rates and investors bracing for a potential Trump election victory. The US currency was last up 1.1 per cent…
Read MoreTSMC cuts off client after discovering chips diverted to Huawei
TAIWAN Semiconductor Manufacturing Co (TSMC) discovered this month that chips it made for a specific customer ended up with Huawei Technologies, a potential violation of US sanctions intended to sever the flow of technology to a Chinese national champion. TSMC halted shipments to the client around mid-October after it realised semiconductors fabricated for that entity…
Read MoreHengrui Pharmaceuticals is said to weigh second listing in Hong Kong
JIANGSU Hengrui Pharmaceuticals is considering a second listing in Hong Kong that could happen as soon as next year, according to people familiar with the situation. The company is in talks with advisers about the potential share sale, which might raise at least US$2 billion, the people said, asking not to be identified as the…
Read MoreNvidia’s design flaw with Blackwell AI chips now fixed, CEO says
NVIDIA CEO Jensen Huang said on Wednesday (Oct 23) a design flaw with its latest Blackwell AI chips which impacted production has been fixed with the help of longtime Taiwanese manufacturing partner TSMC. Nvidia unveiled Blackwell chips in March and had earlier said they would ship in the second quarter but were delayed, potentially affecting…
Read MoreMapletree Logistics Trust to shrink China footprint to rejuvenate portfolio
MAPLETREE Logistics Trust (MLT), whose earnings have been weighed down by an economic slowdown in China, plans to divest about S$1 billion worth of its assets – of which about half will be from China and Hong Kong. The remaining assets identified for divestment are from Malaysia and Singapore, with a smaller proportion from Australia,…
Read MoreXiaomi’s automobile plant expansion to be completed in mid-2025, report says
CHINESE smartphone maker Xiaomi is expected to complete the construction of an expansion of its electric vehicle factory in mid-2025, according to government-backed Chinese media on Wednesday (Oct 23). The second phase of the Xiaomi Intelligent Manufacturing Industrial Base is scheduled to be completed on Jun 15, according to a report by the National Business…
Read MoreJapan bonds are latest casualties as Fed rate fears jolt markets
Japan’s bonds are the latest to succumb to a global debt selloff as traders unwind bets for aggressive US interest-rate cuts. Yields on Japan’s 40-year government debt rose to a 16-year high on Wednesday (Oct 23), a day after their 10-year Treasury peers climbed past 4.2 per cent for the first time since July. The…
Read MoreHyundai testing novel hydrogen production as part of green push
HYUNDAI Motor’s plant in Georgia has been running its internal logistics operations using hydrogen and the South Korean automaker has been testing domestic production of the fuel using biogas from food scraps as part of its push to build a sustainable energy future around the gas. The company’s so-called Metaplant facility in the US state,…
Read MoreAustralia’s Qantas hits record high as Jefferies lifts price target
SHARES of Qantas Airways hit an all-time high on Wednesday (Oct 23) after Jefferies analysts hiked their price target on Australia’s flag carrier, on the back of low fuel costs and expectations of a dividend payment. Qantas stock rose as much as 3.6 per cent to a record high of A$7.830 by 0054 GMT. It…
Read MoreChina Resources Beverage shares climb 14% in Hong Kong debut
SHARES of China Resources Beverage Holdings rose 14 per cent early in their trading debut in Hong Kong, showing a strong response to one of Hong Kong’s biggest initial public offerings (IPOs) this year. The stock traded at HK$16.46 after an IPO priced at HK$14.50, the top of a marketed range. The owner of the…
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