Day: August 27, 2023

Japan Postpones ‘Moon Sniper’ Liftoff for Third Time

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TOKYO —  Japan’s space agency on Monday postponed for the third time the launch of its “Moon Sniper” lunar mission due to poor weather. The H2-A rocket due to blast off from the southern island of Tanegashima was also carrying a research satellite developed with NASA and the European Space Agency. The Japan Aerospace Exploration Agency (JAXA) gave no new date for the start of the mission, which comes after India successfully landed a probe on the Moon last week. MHI Launch Services, the rocket co-developer, said on the social…

Foxconn billionaire Terry Gou announces Taiwanese presidential run

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Gou failed to win the nomination from the main opposition Kuomintang party, which chose New Taipei Mayor Hou Yu-ih as its candidate in May. He told journalists on Monday that in the past he had had no desire to take part in politics. That changed because “the DPP has led Taiwan to the risks of war in its seven years of administration” and its “internal policies are full of mistakes”, he said. 04:06 Foxconn billionaire Terry Gou announces Taiwan presidential run as independent candidate Foxconn billionaire Terry Gou announces Taiwan…

Evergrande suffers US$2.2 billion market beating as stock plunges 79%, testing creditors in debt workout plan

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China Evergrande Group plunged in Hong Kong when trading resumed after a 17-month trading suspension, lopping off US$2.4 billion from its market value as investors rushed for the exit amid a debt restructuring by the world’s most indebted property developer. Evergrande’s shares tumbled 79 per cent to 35 HK cents, versus the pre-suspension price of HK$1.65 on March 21 last year. The slump erased HK$17.2 billion (US$2.2 billion) from its capitalisation. The stock earlier sank by as much as 87 per cent to 22 HK cents. In its application to…

South China Sea: Beijing may need to show restraint ahead of US-Vietnam meeting

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The summit was considered a watershed moment for Biden’s Indo-Pacific strategy of using Washington-led alliances to counter China’s growing influence. Some Chinese media described the Camp David meetting as a “half-step away” from forming a Nato in Asia. In a move that could further rattle Beijing, it has also been reported that Biden will visit Hanoi next month to bolster ties with Vietnam. 01:56 Biden to introduce new restrictions on US investments in China, declares tech ‘emergency’ Biden to introduce new restrictions on US investments in China, declares tech ‘emergency’…

‘Barbie’ Movie Drawn Into Controversy Over Contested Region

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Geopolitics may be the last thing on the minds of audiences who will be lining up for the Barbie movie in 2023. But the pastel-drenched blockbuster based on a children’s doll seems to have waded into an international controversy about one of the globe’s most heavily contested regions, leading it to be banned in Vietnam and censored in the Philippines. Written by Alex Gendler and narrated by Salem Solomon Voice of America

Businesses in Japan receive abusive calls from China after Fukushima water release

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Tokyo has urged Beijing to “ensure the safety of Japanese residents in China” after a wave of telephone harassment targeting businesses in Japan sparked by the controversial discharge of Fukushima wastewater last week. While Japan insists the release of the treated water is safe – a view backed by the UN’s nuclear watchdog – China has staunchly opposed it and banned all Japanese seafood imports, saying it contaminates the ocean. The Japanese government on Sunday published new data showing waters off Fukushima continued to post radioactivity levels well within safe…

Chinese companies’ earnings to lay bare impact of economic slowdown

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Receive free Chinese business & finance updates We’ll send you a myFT Daily Digest email rounding up the latest Chinese business & finance news every morning. The full extent of China’s economic slowdown is set to be laid bare this week as corporate earnings reports are forecast to log poor performance and companies are set to downgrade outlooks, particularly in sectors with heavy exposure to the struggling real estate industry. Second-quarter results come as a worsening liquidity crisis among property developers and shaky local government finances compound investor doubts that…

Markets are not signalling doom and gloom for China’s economy

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Receive free Chinese economy updates We’ll send you a myFT Daily Digest email rounding up the latest Chinese economy news every morning. The writer is chief executive of Gavekal, a Hong Kong-based financial services company Property prices are falling. Large real estate developers have fallen into dire straits. A big financial conglomerate has missed interest payments on products sold to investors. For many investors, such recent events in the country all feel like the remake of a 2008 movie few enjoyed. The gloomiest foretell the unfolding implosion of the Chinese…

With Xi Jinping facing challenges on multiple fronts, can China’s helmsman navigate through stormy seas?

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This has spilled over to having other developed economies call for so-called de-risking in their supply chains, further hindering China’s aim to become a top global exporter and tech power. Xi is facing challenges on multiple fronts, and they are interconnectedYeling Tan Advertisement This all could, analysts said, culminate in a defining moment for Xi. Hailed as China’s “helmsman” and “navigator” by state media and his political aides, Xi has a chance to shape his legacy during another five-year term. “Xi is facing challenges on multiple fronts, and they are…

China Halves Stock Trade Tax to Boost Market

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Beijing —  China halved the stamp duty on securities transactions, state media reported Sunday, in an effort to restore confidence in the world’s second-largest stock market as the country battles an economic slowdown. The cut, which will take effect on Monday, is the country’s first since 2008. China’s Ministry of Finance and its State Taxation Administration said in a joint statement the move was designed to “invigorate the capital market and boost investor confidence.” Chinese markets have eagerly awaited the reduction of the duty from its current rate of 0.1%…