Indian shares led gains in Asia Wednesday after a surprise rate cut by the Reserve Bank of India, while the rest of the region traded mixed.» Read More
We look at Asia's 10 richest first-generation businessmen. Find out who these self-made billionaires are and how they made their money.
Australian stocks approached their highest levels in nearly five years on Wednesday after China's trade balance swung to a surplus in April while Japan's benchmark Nikkei remained the region's out performer, extending gains to hit a fresh near five-year high.
Australian stocks retreated from Tuesday's four-and-a-half-year high after Chinese manufacturing data revealed the nation's economic recovery may not be on solid footing while the Nikkei 225 extended losses as the yen strengthened.
Sharp, Japan's leading maker of liquid crystal displays posted a worse than forecast 500 billion yen ($5.1 billion) net loss as panel plants asset write offs crimped its bottom line.
Samsung, with a $110 million investment in cash-strapped Sharp, will broaden its supplier base and get a foot in the door at one of Apple key Asian display suppliers.
Samsung Electronics is set to invest about $110 million in struggling Sharp, a deal that will ensure it a smooth supply of large-sized TV panels and help bolster the Japanese company's chances of survival.
Japanese blue-chip firms, from electronics giants to brewers, are selling prime real estate to shore up battered balance sheets, stoking a resurgent property market.
Asian stocks closed mixed on Monday after Wall Street hit a five-year high in the previous session as strong economic data buoyed sentiment.
Sharp rebounded to a third-quarter operating profit on Friday, improving the bailed-out consumer electroncs maker's chances of convincing lenders and shareholders that it is a viable company.
LG Electronics fell short of consensus forecasts in quarterly earnings on Wednesday, with profits in its TV division tumbling to around one tenth of year-earlier levels as the world's No.2 TV maker bumped up promotional spending in the year-end holiday season.
Some of the names on the move ahead of the open.
Apple has cut orders for LCD screens and other parts for the iPhone 5 this quarter due to weak demand, the Nikkei reported.
Two thirds of the 420,000 patrol cars in the United States are equipped with Panasonic's rugged Toughbook computers, and chief Kazuhiro Tsuga sees the niche product as a model for how the sprawling conglomerate can make money beyond a gadget mass market increasingly dominated by Samsung Electronics and Apple.
Japan's Nikkei share average climbed to a 22-month high on its first trading day of 2013, as a deal in Washington to avert the "fiscal cliff" buoyed investor risk appetite and the weaker yen lifted exporters such as Toyota Motor Corp.
The Japanese government plans to spend up to 1 trillion yen ($11.6 billion) to buy machinery and factories from domestic manufacturers in a bid to strengthen Japan industrial competitiveness by providing funds for new corporate investments, the Nikkei business daily said on Monday.
Apple's TV innovation will be in software, not hardware, said Porter Bibb of Media Tech Capital Partners.
Japan's TV makers are selling buildings and businesses in a giant "garage sale" that could raise a combined $3 billion.
Qualcomm will invest as much as $120 million in Sharp, a cash injection likely to make it the struggling Japanese TV maker's biggest shareholder.
*Toyota lifts mood in automakers. But Toyota Motor Corp rose 2.2 percent to a one-month high at 3,210 yen after public broadcaster NHK said it was set to slightly raise its operating profit forecast.
*Fitch joins Moody's, S&P in cutting Sharp rating to junk. TOKYO/ HONG KONG, Nov 2- Shares of Japan's Sharp Corp fell and Fitch Ratings downgraded its debt to junk status on Friday, a day after it warned of a $5.6 billion net loss for the year and said it might not be able to survive on its own.