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April 30, 2021

Asia News

Singapore names new finance minister in cabinet reshuffle after setback in leadership succession

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CNBC – For more and to sign up click here Singapore’s Minister for National Development Lawrence Wong at a press conference on the country’s Covid-19 situation on April 22, 2021. Singapore’s Ministry of Communications and Information SINGAPORE — Singapore’s Prime Minister Lee Hsien Loong has named a new finance minister,......

Biden’s economic plans will help the U.S. compete with China, says former Treasury secretary

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CNBC – For more and to sign up click here President Joe Biden’s plans to bolster the U.S. economy will help the country compete with China’s massive Belt and Road Initiative, former Treasury Secretary Jacob Lew said on Wednesday. The Belt and Road Initiative is China’s ambitious program to build physical......

Here are the 10 biggest economies in the world — before the pandemic vs. now

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CNBC – For more and to sign up click here A child runs past a wall mural depicting healthcare workers wearing face masks along a road in New Delhi, India on March 21, 2021. Sajjad Hussain | AFP | Getty Images SINGAPORE — The Covid-19 pandemic has shaken up the......

Xi says China ‘will never seek hegemony’ no matter how strong it becomes

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CNBC – For more and to sign up click here Chinese President Xi Jinping attends the World Economic Forum WEF Virtual Event of the Davos Agenda and delivers a special address via video link in Beijing, capital of China, Jan. 25, 2021. Li Xueren | Xinhua News Agency | Getty......

China is starting clinical trials of a Covid vaccine that can be inhaled

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CNBC – For more and to sign up click here China’s CanSino Biologics will be starting clinical trials for a Covid-19 vaccine that is administered through inhalation next week, the company’s co-founder and Chief Executive Xuefeng Yu told CNBC on Sunday. Such a vaccine could be more effective than those......

Biden seeks closer ties with Japan as the U.S. prepares to challenge China

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CNBC – For more and to sign up click here U.S. and Japanese national flags displayed outside the Palace Hotel Tokyo on May 25, 2019 ahead of former U.S President Donald Trump’s state visit. Tomohiro Ohsumi | Getty Images U.S. President Joe Biden will meet with Japanese Prime Minister Yoshihide......

Singapore’s economy grew 0.2% on-year in the first quarter of 2021, beating expectations

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CNBC – For more and to sign up click here A man with a mask on taking a walk at Marina Bay Sands in Singapore’s central business district seen in the background on April 1, 2020. Suhaimi Abdullah | Getty Images SINGAPORE — Singapore’s economy unexpectedly grew 0.2% in the......

China says exports jumped 30.6% in March from a year ago, missing expectations

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CNBC – For more and to sign up click here A Chinese flag flies on a vessel moving past shipping containers being unloaded at a Tianjin Port Group Co. dock in Tianjin, China. Nelson Ching | Bloomberg | Getty Images China on Tuesday said its exports for March jumped 30.6%......

Middle East investor seeks U.S. opportunities as Biden pushes infrastructure plan

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CNBC – For more and to sign up click here Cranes for unloading shipping containers stand at the Port of Los Angeles in San Pedro, California. Patrick T. Fallon | Bloomberg | Getty Images Investcorp, a Bahrain-based investment company, is looking for opportunities to invest in U.S. roads and ports......

Singapore’s leadership succession is in disarray. Here’s who could be the next prime minister

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CNBC – For more and to sign up click here SINGAPORE — Singapore’s carefully planned leadership succession has been thrown into disarray. Political observers say it’s now not clear who would become the Asian financial hub’s next prime minister.   Deputy Prime Minister Heng Swee Keat shocked the nation late......

Economist Stephen Roach questions Biden’s decision to keep Trump’s China policies

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CNBC – For more and to sign up click here Leading economist Stephen Roach said he found it “really curious” that U.S. President Joe Biden has left much of his predecessor’s policies on China in place. Roach, a senior fellow at Yale University, said Biden kept the “seriously flawed” U.S.-China......

Hong Kong people are ‘distressed’ and ‘disillusioned,’ says pro-democracy ex-lawmaker

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CNBC – For more and to sign up click here A former pro-democracy lawmaker in Hong Kong says people there have become “distressed” and “disillusioned” as some fear the city has lost important freedoms. Widespread pro-democracy protests that rocked Hong Kong in 2019 have largely subsided, in part due to......

This analyst says Tesla’s stock is worth $150 — which would be a 78% discount

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CNBC – For more and to sign up click here A Tesla logo is pictured during the Brussels Motor Show on January 9, 2020 in Brussels . Kenzo Tribouillard | AFP | Getty Images Tesla’s stock is overvalued and worth only $150, according to Craig Irwin, senior research analyst at......

Calls grow louder to boycott Beijing’s Olympics — and analysts warn of retaliation from China

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CNBC – For more and to sign up click here A journalist looks at a display at the exhibition center for the Beijing 2022 Winter Olympics in Yaqing district on February 5, 2021 in Beijing, China. Kevin Frayer | Getty Images Countries and companies outside China face rising pressure to......

China’s ‘laissez-faire’ approach toward Myanmar’s coup puts its own interests at risk, says analyst

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CNBC – For more and to sign up click here Anti-coup protesters hold placards as they protest against the military coup Saturday, February 20, 2021, in Yangon, Myanmar. Anadolu Agency | Getty Images China’s “laissez-faire” approach toward Myanmar’s military coup could hurt the Asian giant’s strategic and economic interests in......

Archegos fallout exposes risks from less regulated family offices, says former SEC counsel

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CNBC – For more and to sign up click here Family offices have grown in the U.S., but that segment remains lightly regulated — and that could be a problem for the financial industry, warned a former counsel at the Securities and Exchanges Commission. The risks posed by large family......

Asia’s worst stock market last year is now one of the region’s top performers

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CNBC – For more and to sign up click here A cyclist rides before the city skyline at Marina Bay in Singapore. Roslan Rahman | AFP | Getty Images SINGAPORE – Singapore’s stock market is staging a strong comeback. The benchmark Straits Times Index ended 2020 as the worst performer......

Cargo ship blocking Suez Canal has been refloated, says Inchcape

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CNBC – For more and to sign up click here A handout picture released by the Suez Canal Authority on March 24, 2021 shows a part of the Taiwan-owned MV Ever Given (Evergreen), a 400-metre- (1,300-foot-) long and 59-metre wide vessel, lodged sideways and impeding all traffic across the waterway......

China’s government bonds are in a ‘sweet spot’ after sell off, says portfolio manager

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CNBC – For more and to sign up click here Chinese government bonds are in a “sweet spot” after last year’s sell-off — and now offer higher yields and much lower volatility compared to U.S. Treasurys, a portfolio manager said. The yield on China’s 10-year government bond climbed nearly 1......

China’s dual-listed tech giants lost $60 billion in market value over three days as delisting threats loom

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CNBC – For more and to sign up click here Alibaba founder Jack Ma attends the 5th World Zhejiang Entrepreneurs Convention at Hangzhou International Expo Centre on November 13, 2019 in Hangzhou, Zhejiang Province of China. VCG | Getty Images China’s dual-listed tech giants — Alibaba, Baidu, JD.com, and Netease......

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