Japan's factory activity growth slowed in June as China's strict COVID-19 curbs took a toll on manufacturing demand, even as service sector sentiment hit a nearly nine-year high on the fading pandemic drag. China's COVID-19 lockdowns have disrupted supply chains, heavily impacting trade-reliant economies such as Japan.
China will step up support for automobile consumption and expects vehicle and auto-related consumption to increase by about 200 billion yuan in 2022, state media reported, citing a regular cabinet meeting on Wednesday. China is also considering extending a purchase tax exemption for new energy vehicles, the meeting, chaired by premier Li Keqiang, said.
Authorities in Bangladesh intensified efforts on Wednesday to deliver food and drinking water to millions of people struggling after heavy rain unleashed catastrophic flooding across a quarter of the country.
* Powell to begin two-day testimony to Congress. * S.Africa's consumer inflation rises in May. * Czech crown flat ahead of CNB rate decision. * Sri Lanka plans donor conference with China, India, Japan. By Shreyashi Sanyal.
Sri Lanka will call China, India and Japan to a donor conference to drum up more foreign assistance and present an interim budget in August, the prime minister said on Wednesday, amid ongoing negotiations with the International Monetary Fund.
The United States should "urgently" start talks with Taiwan on a free trade agreement with the aim to present a completed text for passage in 2024, the American Chamber of Commerce in Taiwan said in an annual policy paper published on Wednesday.
The safe haven dollar gained ground on most peers on Wednesday as investors turned nervous again about global growth prospects, while the yen hit a fresh 24-year low as elevated bond yields in the U.S. and Europe contrasted with low Japanese interest rates.
Asian stocks slipped across the board on Wednesday, failing to extend Wall Street's rally as persistent worries about interest rates and inflation remained a key focus for investors, while the Japanese yen hit a fresh 24-year low against the dollar. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.39%, still up 1.02% on the more than five-week low it hit on Monday.
Indonesian President and G20 chairman Joko Widodo will meet leaders of Ukraine and Russia next week to advocate for peace and try to help ease a global food crisis, his foreign minister said on Wednesday, the first such trip by an Asian leader.
Asian stocks slipped in volatile trade on Wednesday, failing to extend Wall Street's rally as persistent worries about interest rates and inflation remained a key focus for investors, while the Japanese yen hit a fresh 24-year low against the dollar. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1%, but was still up 1.39% on the more than five-week low it hit on Monday.
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