Asia-Pacific News

More

• Trial of China's Bo Not Being Held Monday

  

  The trial of disgraced senior Chinese leader Bo Xilai, the central figure in the country's biggest political scandal in decades, will not be held on Monday as some media had reported, a court official in the southern Chinese city of Guiyang said.

• Troubled Miner Bumi to Revamp Name: Board Source

  

  Indonesia-focused miner Bumi will announce plans for a smaller board and a new company name as it seeks to break with two years of damaging battles between investors, a source familiar with the matter said on Sunday.

• Mitsubishi Recalls 14,700 Electric Cars Over Brakes

  

  Mitsubishi Motors said it is recalling about 14,700 electric vehicles globally due to a brake problem unique to the electric-powered cars in one of the biggest callbacks involving the new generation of eco-friendly cars.

• Former Chinese Leader Steps Back, Fueling Speculation

  

  A decade after he stepped down as China's top leader, the powerful Communist Party elder Jiang Zemin has used the death of a former rival to signal that he may allow his political shadow to recede and give the nation’s newest leader more room to consolidate his authority. The New York Times reports.

• Apple Needs China, Now More Than Ever

  

  Apple's third straight disappointing quarter signals an urgent need for the global technology leader to drum up new revenue - and China may provide the answer.

• Hyundai Motor Posts Surprise Profit Decline, Shares Fall

  

  South Korea's Hyundai Motor posted a surprise 5.5 percent fall in quarterly net profit, missing forecasts, as record car sales were dented by the impact of a stronger local currency and the cost of compensating drivers in North America for overstated fuel-economy claims.

• South Korea's Growth Picks Up but Outlook Challenging

  

  South Korea's economy grew 0.4 percent in the fourth quarter, the central bank's advance estimates showed on Thursday, up from the preceding quarter and roughly matching market expectations.

• Trade Deficit in Japan Swells to Record Levels

  

  Japan logged a record annual trade deficit in 2012 as exports continued to slide in December in a worrying signal that the effects of a weaker yen and the new government's moves to boost the economy with fiscal and monetary stimulus have been slow in coming.

• Gangnam Brings Fans—and Tourism Revenue—to Korea

  

  Even as the South Korean economy struggled in 2012, there was one bright spot-K-Pop sensation Psy's "Gangnam Style" video–that helped bring a record number of tourists boosting revenues to a new high.

• Korea Becomes the Red Flag for Asia's Currency War

  

  South Korea's threat to impose a broad tax on financial transactions is the first sign of deepening concern in Asia that speculation of competitive currency devaluations is prompting investors to head for the exit.

• China Factory Activity Eases in January, Misses Forecast

  

  China's official purchasing managers' index (PMI) eased to 50.4 in January, the National Bureau of Statistics said on Friday, missing market expectations and underscoring that the economy is making only a mild recovery from its weakest year since 1999.

• India's Bharti Airtel Profit Sinks, Misses Estimates

  

  Profit at India's top mobile network operator Bharti Airtel fell for the twelfth successive quarter, with higher costs dragging its results well below market expectations.

• Hong Kong, Where Parking Is Free… Almost

  

  Hong Kong residents are obsessed with property, and I'm no exception. But I never thought my dank, dark car park space in the building where I live would turn out to be my best investment ever. I bought it four years ago for $90,000. Recent deals indicate it's now worth $167,000, an 85 percent increase.

• Is China's Newest Monetary Tool a Form of QE?

  

  Shortly after the central bank announced an addition to its regulatory tool kit, the Short-term Liquidity Operation (SLO), analysts started wondering if this meant small-scale quantitative easing. The Caixin Media reports.

• ANA Investors Look Past Dreamliner's Woes

  

  All Nippon Airways, Asia's top airline by revenue, has cancelled close to 850 flights over a 4-week period and rescheduled more than 82,000 passengers due to the grounding of the Boeing 787 Dreamliner jet with undiagnosed battery problems.

• Is It Time to Get Off the China Stocks Train?

  

  Chinese shares are having their day in the sun, with the benchmark Shanghai stock index trading at an eight-month high on Thursday. The rally, however, may be close to running its course, some analysts say.

• Singapore’s High Cost of Living Comes at a Cost

  

  As rising prices threaten high living standards, this Asian financial hub may be at risk of becoming a victim of its own success.

• Correction Looms for Euphoric Aussie Markets

  

  Investors have been reaping the benefits of a bull run on the Australian Securities Exchange, but a correction is looming and they should take heed, said analysts.

• Abenomics Overrated, Time to Underweight Japan

  

  Japanese equities have soared on expectations Prime Minister Abe's leadership will be a game changer for the economy, but is there is too much optimism priced into the stocks?

• Singapore Targets Population Jump as Discontent Rises

  

  That is the vision for Singapore is to have more babies to build the ranks of Singaporeans and get set for a construction boom but accept heavier congestion and more foreign workers as the crowded Asian city-state grows into a global center with 30 percent more people.