Chinese President Xi travels overseas to promote his strategic role

BEIJING (AP) — President Xi Jinping is using his first overseas trip since the start of the pandemic to promote China’s strategic ambitions during a summit with Russia’s Vladimir Putin and other leaders of a Central Asian security group. Chinese leader promotes ‘Global Security Initiative’ announced in April following formation of Quad by Washington, Japan, … Read more

Asian markets rise, South Korean stocks explode ahead of US CPI report

China’s tourism revenue still well below 2019 levels, data shows Domestic tourism revenue for the Mid-Autumn Festival hit 28.68 billion yuan ($4.16 billion), just 60.6 percent of pre-pandemic levels in 2019, official data showed. . Revenues have remained below 2019 levels since the pandemic hit in early 2020. Cinema ticketing site Maoyan showed the long-weekend … Read more

Japan travel stocks rise following report on easing of rules

North Asian refiners will receive a full allocation of Saudi crude in October, Reuters reports At least three refiners in North Asia have been told by Saudi Aramco that they will receive full contract volumes of crude in October, Reuters reported, citing people with knowledge of the matter. In its first cut in four months, … Read more

Hong Kong’s Hang Seng rises 2%, leads Asian markets higher after Powell’s inflation comments

HSBC says latest inflation readings from China allow PBOC to maintain accommodative monetary policy China’s latest inflation figures give the People’s Bank of China room to maintain its current monetary stance, HSBC said in a note. “The moderation in price pressures gives the PBOC room to remain dovish,” said China economist Erin Xin. Xin added … Read more

Japan’s Nikkei rises 2% in mixed Asian session after Wall Street rebound

Australia’s central bank pleads for slower rate hikes Reserve Bank of Australia Governor Philip Lowe said the central bank “acknowledges” that “the case for slowing the pace of interest rate increases is growing stronger as the level of the cash rate increases”. National Australia Bank economist Tapas Stickland said Lowe’s remarks could “signal a shift … Read more

Japan’s Nikkei rises 2% in mixed Asian session after Wall Street rebound

Australia’s central bank pleads for slower rate hikes Reserve Bank of Australia Governor Philip Lowe said the central bank “acknowledges” that “the case for slowing the pace of interest rate increases is growing stronger as the level of the cash rate increases”. National Australia Bank economist Tapas Stickland said Lowe’s remarks could “signal a shift … Read more

Russia will hold extensive joint war games with China and others

MOSCOW (AP) — Russia said on Monday it would launch extensive military drills in the east of the country that would involve Chinese forces — a show of increasingly close defense ties between Moscow and Beijing amid tensions with the West about the Kremlin’s action in Ukraine. The Russian Defense Ministry said exercise Vostok 2022 … Read more

Japan is turning to more nuclear power – IEA says that’s good news

This image, from March 2022, shows wind turbines in front of the Hamaoka nuclear power plant in Japan. The country now plans to use more nuclear energy in the coming years. Korekore | Istock | Getty Images Japan’s plans to return to using more nuclear power have been welcomed by the International Energy Agency, with … Read more

Sony raises price of PlayStation 5 console due to soaring inflation

In this photo illustration a PlayStation 5 logo displayed on a smartphone. Mateusz Slodkowski | SOPA Pictures | Light Rocket via Getty Images sony on Thursday raised the recommended retail price of its PlayStation 5 game console in several international markets citing the global economic environment, including high inflation. The Japanese gaming giant said the … Read more

Jackson Hole and HKEX cancel morning session on typhoon warning

Qantas shares jump after takeover announcement, earnings report Australian airline shares Qantas jumped 10% after the company announced its earnings and announced its intention to buy back its shares. The company posted an underlying pre-tax loss of A$1.86 billion ($1.29 billion) for the 2022 financial year. “While the first three quarters of the year were … Read more