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Hong Kong Financial Markets

Asian stocks sink after Wall Street rises

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Asian stock markets declined Tuesday after Wall Street rose as a wave of investor concern about possible higher interest rates receded. Tokyo, Shanghai, Hong Kong and Sydney declined. Seoul advanced. Overnight, Wall Street's benchmark S&P 500 index climbed 2.4%, recovering most of its losses from the past week. That came… Read

Business

Pandemic widens divide between winners and losers in apparel business

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The coronavirus pandemic has widened a divide between winners and losers in the retail apparel sector in Japan as an increasing number of people prefer reasonably priced functional garments, moving away from traditional business wear. A retailer of food and apparel items in Gunma Prefecture opened its first store named… Read

Business

Tech demand drives Asia's factory revival; China's slowdown puts dampener

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Solid demand for technology goods drove extended growth in Asia's factories in February, but a slowdown in China underscored the challenges facing the region as it seeks a sustainable recovery from the shattering COVID-19 pandemic blow. The vaccine rollouts globally and pick-up in demand provided optimism for a vast number… Read

Business

U.S. probing engine fires in nearly 1.9 mil Toyota RAV4 SUVs

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The U.S. government is investigating complaints of engine compartment fires in nearly 1.9 million Toyota RAV4 small SUVs. The National Highway Traffic Safety Administration began investigating after getting 11 fire complaints involving the 2013 through 2018 model years. The RAV4 is the top-selling vehicle in the U.S. that isn’t a… Read

Business

Asian shares rise on hopes for U.S. stimulus package

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Asian shares rose Monday on hopes for President Joe Biden's stimulus package and bargain-hunting after sell offs last week. Japan's benchmark Nikkei 225 surged 2.4% in afternoon trading to 29,663.50. Australia's S&P/ASX 200 jumped 1.7% to 6,789.60. Hong Kong's Hang Seng advanced 1.3% to 29,348.99, while the Shanghai Composite rose… Read

Business

Hyundai bought chips when rivals didn't; its assembly lines are still rolling

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Hyundai Motor has so far avoided a chip shortage that has plagued global automakers, largely maintaining its stockpile of chips last year and even accelerating purchases towards the end, three people with knowledge of the matter said. The shortage has forced production cuts worldwide, including at Volkswagen and General Motors,… Read

Business

Women making inroads on Wall Street, but still a long way to go

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Pin-up photos and smutty jokes have long been commonplace on trading floors, but the finance world is gradually opening up to women -- underlined by the arrival on Monday of Jane Fraser at the head of Wall Street banking flagship Citigroup. Her elevation marks "a milestone," according to Lorraine Hariton,… Read

Business

Bitcoin extends retreat from record high to hit lowest in 20 days

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Bitcoin dropped 6.39% to $43,165.78 on Sunday, losing $2,944.20 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, has fallen 26% from the year's high of$58,354.14 on Feb. 21 when it soared amid increasing confidence that it will become a mainstream investment and payments vehicle. Major firms such… Read

Business

I choose you! Pokemon turns 25

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Twenty-five years after Pokemon first began delighting children and adults alike, the phenomenon is still capturing hearts, with smartphone craze Pokemon Go enjoying record success in virus-hit 2020. The augmented-reality game raked in $1 billion in just the first 10 months of last year -- its most lucrative yet --… Read

Business

Mitsubishi pulls out of Vinh Tan 3 coal project in Vietnam

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Mitsubishi Corp has decided to pull out of the Vinh Tan 3 power plant in Vietnam, two sources familiar with the company's thinking on the matter told Reuters, as it shifts away from carbon intensive businesses in the face of climate change. Mitsubishi's move to exit the estimated $2-billion project… Read

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