Asia Economy

Gold demand surged to 11-year high on ‘colossal’ central bank buying

Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Alexander Manzyuk | Reuters Gold Demand soared to an 11-year high in 2022 on the back of “colossal central bank purchases, aided by vigorous retail investor buying,” according to …

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South Korea posts the worst trade deficit in its history

05 November 2022, South Korea, Pusan: Containers are loaded from the container freighter “Alula Express” at Busan Newport International Terminal, one of the largest container ports in the world. Photo: Bernd von Jutrczenka/dpa (Photo by Bernd von Jutrczenka/picture alliance via Getty Images) Picture Alliance | Picture Alliance | GettyImages South Korea recorded a trade deficit …

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Cost of living is not the only reason many are delaying retirement

Workers surveyed in China are the least likely to retire as soon as possible — even “in an ideal world,” Randstad said. And 3% of workers in Asia-Pacific never want to retire in all, which is the highest percentage out of all regions. Edwin Tan | E+ | GettyImages The cost of living crisis is …

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China returns from New Year, CSI 300, New Zealand trade, Fed meeting

Visitors on Central Street of the Taipa Village in Macau, China, on Wednesday, Jan. 25, 2023. Tourism and spending are reviving in Macau as the Lunar New Year holiday spurred a jump in visitors after pandemic travel restrictions were eased between the territory and mainland China. Bloomberg | Bloomberg | GettyImages Stocks in the Asia-Pacific …

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Asia-Pacific stocks rise as Tokyo’s inflation nears 42-year high

Adani shares plunge further for second straight day of losses Shares of Adani Group companies continued to see sharp losses for a second consecutive trading session in India after short seller firm Hindenburg announced its short position in the conglomerate’s firms earlier this week. Adani refuted the claims in two separate statements, adding that the …

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Australia PMI, Japan Jibun Flash PMI, Lunar New Year holidays

New Zealand’s Auckland airport passenger volumes hit 74% of pre-pandemic levels in November New Zealand’s Auckland Airport saw its total passenger volumes for November reach 74% of levels seen in the financial year to June 2019, or the last full-year not impacted by the pandemic, according to the airport’s monthly traffic update. International passengers were …

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Australia PMI, Japan Jibun Flash PMI, Lunar New Year holidays

CNBC Pro: These 6 low-debt global stocks are set to outperform, Bernstein says Rising interest rates have major implications for companies with large amounts of debt, as they will likely experience higher costs from increased borrowing. As interest rates continue to rise, analysts at Bernstein think that stocks with low debt exposure and a higher …

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Singapore’s 15 fastest-growing jobs for 2023, according to LinkedIn

Jobs that help companies digitize and grow amid economic volatility are on the rise in Singapore, according to LinkedIn. Its latest Jobs on the Rise data revealed spikes in hiring for growth specialists, technical jobs and health-care professionals in Asia — among other jobs expected to expand hiring well into 2023. Researchers from LinkedIn examined …

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China’s growth in 2023 largely hinges on the consumer: KraneShares

The Bund in Shanghai, China, on Oct. 17, 2022. China’s gross domestic product grew by 3% in 2022, less than half of 2021’s rate. Qilai Shen | Bloomberg | GettyImages China’s economy looks poised for a rebound in 2023, but a lot depends on one variable — the consumer, said investment management firm KraneShares. “As …

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Japanese yen weakens as Bank of Japan makes no changes to yield curve range

Morning commuters in front of the Bank of Japan (BOJ) headquarters in Tokyo, Japan, on Monday, Jan. 16, 2023. The Bank of Japan made no changes to its yield curve control policy on Wednesday. Bloomberg | Bloomberg | GettyImages The Japanese currency weakened against the US dollar after the Bank of Japan surprised markets by …

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