HONG KONG: China’s Xiaomi said on Tuesday ( Apr 1 ) that it was actively cooperating with police after a fatal accident involving a SU7 electric vehicle on Mar 29 and that it had handed over driving and system data. The event marks the first big incident involving the SU7Continue Reading
As investors prepare themselves for a wave of US tariffs this week that has fueled recession fears, Hong Kong led another decline across Asian markets on Monday ( Mar 31 ).
In recent weeks, stocks across the globe have been hit heavily onward of Donald Trump’s” Liberation Day,” which will feature a number of charges against both friends and foes, citing what he calls unjust trading practices.
His news last week that he may also impose 25 % duties on imports of all vehicles and parts sparked a panic on trading floors, hammering auto giants like Japan’s Toyota, the largest in the world.
Governments around the world have reacted to Trump’s taxes and are considering imposing additional countermeasures, while Canadian Prime Minister Mark Carney announced on Friday that he will employ punitive tariffs to defend his country’s employees and business.
Data from last month’s survey of the Federal Reserve’s favored measure of inflation, which was exacerbated by concerns that Trump’s tariffs will stifle price increases and stifle further interest rate reduction, heightened the mood.
On Monday, businesses across the board experienced a decline, with businesses in all industries feeling the strain.
The decline in Japan’s Nikkei 225 index, which included manufacturers Toyota, Nissan, and Mazda, increased by more than 4 %, while it investment leader SoftBank experienced a decline of more than 5 %, adding to last week’s decline.
The stock’s decline placed it in a adjustment, having fallen more than 10 % from its most recent optimum in December.
Zensho Holdings, which operates a number of Chinese restaurant businesses, lost 3. 9 percent after Sukiya, a chain that serves meat dish, announced it would temporarily close nearly all of its 2,000 locations after finding a bug in another meal and a rat in one.
Additionally, the sea was significantly lower.
The car charges did hit Japan and South Korea the hardest in the Asia-Pacific area, according to the report. Automobiles are shipped to the US for about 6 % of Japan’s entire exports. In the case of South Korea, it’s 4 %, according to economists from Moody’s Analytics.
A” significant tax increase” will “erode trust,” hurt production, and stifle orders. The effects will have a ripple effect on these locations ‘ economy because of the lengthy and complex supply chains in car manufacturing.
According to “back-of-the-envelope calculations, the behavior may cut 0.” 2 to 0. 5 percentage points in each’s progress. “
Samsung and Samsung Electronics, South Korean tech giant, and SEUL ( Mar 25 ) announced on Tuesday that Han Jong-hee, its co-CEO, has died from cardiac arrest. Han was 63. Han served as co-CEO of Samsung’s consumer electronics and smart devices section, while Jun Young-hyun, a different co-CEO, manages theContinue Reading
BEIJING: For the first time ever, it announced that it would build a charging network throughout China on Monday ( Mar 17 ), unveiled a new platform for electric vehicles ( EVs ) that it claimed would charge EVs as quickly as it takes to pump gas. The so-called” veryContinue Reading
Tokyo: Shares of the owner of 7-Eleven fell on Tuesday ( Mar 4 ) after a report revealed that the Japanese retailer intended to reject a multibillion-dollar takeover offer from Canada’s Alimentation Couche-Tard (ACT). An ACT give worth almost US$ 40 billion that would have been the largest internationalContinue Reading
TOKYO: Japan’s Seven &, i Holdings, operator of the 7-Eleven convenience store chain, has picked Bain Capital as its preferred buyer for a stake of its non-core assets, local media reported on Saturday ( Feb 22 ). Since late last year, Bain has been bidding for a significant interest inContinue Reading
Earlier on Friday, Moody’s downgraded the credit score of Nissan to garbage, saying the choice “reflects Nissan’s poor success driven by slowing demand for its age type portfolio”. Nissan reported a 93 percent decline in first-half gross revenue last year, leading to thousands of job cuts, and the company thenContinue Reading
BEIJING: Taiwanese search engine slam dubbed Baidu’s announcement to make its next-generation artificial intelligence type Ernie open-source starting on June 30. This is a significant change in strategy as the competition is fierce. The development of DeepSeek has upended the field, but Baidu CEO Robin Li had long advocated forContinue Reading
Private surveys released on Monday ( Feb. 3 ) showed that Asia’s factory activity decreased in January as a result of soft Chinese demand and President Trump’s threat of higher tariffs, lowering the outlook for the region’s economy. The most recent stock observations come as the world’s markets sag afterContinue Reading
Tokyo and Seoul’s early trading on Monday ( Feb. 3 ) saw a rise in shares of the two cities as a result of US President Donald Trump’s massive trade tariffs on Canada, Mexico, and China. Tokyo’s benchmark Nikkei score fell 2.70 per share or 1, 067.17 items to 38,Continue Reading