Yen weakens to 159 per dollar as oil prices surge despite reserve release

TOKYO -- The Japanese yen slid against the dollar to its weakest level since mid-January on Thursday, as investors worry higher oil prices will lead to bigger trade deficits for Japan.


Asian exporters like Toyota fear losing out under 'Made in Europe' law

BRUSSELS -- The European Commission unveiled plans last week for boosting manufacturing to counter what it perceives as unfair competition from China, but Japanese carmakers such as Toyota Motor and Honda Motor are unnerved by ambiguity in the legal framework.


Malaysian retailers cash in on billion-dollar Ramadan spending spree

KUALA LUMPUR -- Shazwan Ahmad, a bank executive in his 30s, is a regular visitor to Ramadan bazaars in the Malaysian state of Selangor, where he lives. These markets are open only during the Islamic fasting month and mainly sell food and drinks to Muslims breaking their fast.


Iran war rattles Asian investors in Gulf property and stocks

HAMBURG, Germany/HONG KONG -- The chaos unleashed by the joint U.S.-Israeli strikes on Iran is making Asian investors rethink their holdings in the Middle East, even if the regional conflict ends, analysts said.


Chinese broker Guotai says office raided as Hong Kong tightens scrutiny

HONG KONG -- Chinese securities broker Guotai Junan said on Thursday that Hong Kong anti-corruption authorities searched its office in the city this week and detained an employee.


Taiwan's No. 2 chipmaker UMC bets on next-gen optical tech amid AI boom

TAIPEI -- Taiwan's second-largest contract chipmaker, United Microelectronics Corp., has forged a manufacturing partnership to accelerate mass production of a new type of optical material and chips aimed at boosting transmission speeds inside AI computing clusters and data centers, a senior company executive told Nikkei Asia.


Hong Kong's first 5-year plan to highlight role as global finance hub

HONG KONG -- The government of Hong Kong will create its first economic blueprint for the next five years in line with China's 15th Five-Year Plan, hoping to maintain the city's position as an international finance hub.


Reactor parts supplier Japan Steel Works shines amid nuclear power revival

TOKYO -- As nuclear power makes a comeback amid growing demand for clean energy,  Japan Steel Works is drawing the spotlight as a leading supplier of reactor components, with its stock price roughly quadrupling since the end of 2023.


Nomura Asset shifts clerical work on investments to India

TOKYO -- Japan's Nomura Asset Management is moving administrative work involving investment trusts and other investments to India, looking to accommodate the next-day settlement cycle that is becoming a global norm.


Indonesian superapp firm GoTo targets profit growth but wary of oil prices

JAKARTA -- Indonesian ride-hailing and food delivery provider GoTo Group's new CEO expressed concern Wednesday that prolonged high crude oil prices stemming from the Middle East conflict will have "an adverse impact" on its business, even while looking forward to growth in profitability after a money-losing year.