Business News Asia
South Korea’s economy contracted for the first time in two and a half years in the fourth quarter of 2022, according to the Bank of Korea (BOK). The decline was due to a decrease in post-COVID-19 spending and a drop…
Crude oil futures closed slightly higher on Wednesday, January 25th, as fears of a recession overshadowed positive news of lower than expected US crude inventories. In the early trading session, WTI crude futures rose 1% to $81 after the US…
Asian stock markets ended the day mixed as investors await the release of earnings reports from US companies. In Japan, the Nikkei ended a four-day gain at 27,395.01, up 95.82 points, or +0.35%, supported by steelmakers and other cyclical stocks.…
According to a report from the SWIFT international money transfer system, the Chinese Yuan also known as the Renminbi or (RMB) has maintained its position as the fifth most used global currency by value, with a 2.15% payment share in…
According to the New Zealand Bureau of Statistics, inflation in the fourth quarter of 2022 came in at 7.2% year-on-year, unchanged from the third quarter. While this is the highest level of inflation in nearly three decades, it is below…
Data released on Wednesday (Jan. 25) by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) showed that Singapore’s core inflation held steady at 5.1% for the third consecutive month in December, slightly higher than…
The Bank of Thailand’s Monetary Policy Committee (MPC) announced a 0.25% increase in the key interest rate, raising it from 1.25% to 1.50%, effective immediately. The decision was made during the MPC’s latest meeting. The MPC stated that a gradual…
According to Krungthai COMPASS, the value of Thai exports in 2023 is likely to grow by 0.7%, supported by the relaxation of China’s disease control measures in January. The return of China’s manufacturing sector to normal is expected to help…
The Australian Bureau of Statistics (ABS) has reported that the Consumer Price Index (CPI) has risen to a 32-year high of 7.8% in the fourth quarter of 2022. This marks the fastest increase in inflation since March 1990. According to…
S&P Global reported that the preliminary Purchasing Managers’ Index (PMI) for UK manufacturing and services fell to 47.8 in January, its lowest level in 2 years, from 49.0 in December. The PMI remaining below 50, indicating that the UK business…
