China eases more Covid restrictions; travel stocks in Hong Kong rise

China lifts negative test requirement for cross-region travelers Cross-region travelers in China will no longer need to show Covid-negative test results, according to a National Health Commission release. Areas that are not designated as high-risk cannot halt work or production, the notice said. Covid patients without symptoms can also choose to isolate at home for … Read more

Asia markets trade mixed amid recession fears; China to report trade data

China expected to see a further drop in exports and imports China’s trade data for November is expected to show a further drop in both exports and imports, according to a Reuters poll of economists. Average forecasts predict exports will drop 3.5% in November on an annualized basis after declining 0.3% in October, and imports … Read more

Wall Street, Reserve Bank of Australia, interest rates

Philippines inflation soars to 14-year high on food prices Philippines’ consumer price index for November popped 8.0% on an annualized basis, marking a 14-year high on the back of higher food prices according to the Philippines Statistics Authority. The figure was the highest since November 2008 and came in above Reuters’ estimate of 7.8%. It … Read more

Oil tankers en route to Russia as price cap on exports starts

Two tankers were heading to Russia on Monday expecting to be filled with Russian crude as a price cap on its oil exports from a coalition of Western countries went into effect. On Friday, the European Union agreed to cap Russian seaborne oil prices at $60 a barrelaiming to limit Moscow’s revenues and curb its … Read more

SM Entertainment founder Lee Soo-man on K-pop future, running business

It’s been more than 3 decades since Soo-man Lee founded SM Entertainment, one of South Korea’s music agencies known for bringing K-pop to the world. The entertainment company, originally founded as SM Studio in 1989, became one of the first to kickstart the global Hallyu wave — better known as the Korean wave. But Lee’s … Read more

Singapore and New York are the most expensive cities to live in: EIU

New York City, along with Singapore, is the most expensive city to live in, according to the Economist Intelligence Unit. Alexander Spatari | Moment | Getty Images Singapore has once again been ranked as the most expensive city to live in, sharing the top spot with New York City this year, according to the Economist … Read more

South Korea inflation, US jobs report, China Covid-zero

Singapore, New York ranked the most expensive cities to live in: EIU Singapore and New York have been ranked as the most expensive cities to live in this year, according to the Economist Intelligence Unit (EIU). EIU’s survey showed the average price of goods in 172 major cities globally rose 8.1% in local currency terms … Read more

South Korea GDP, Caixin Manufacturing PMI, Japan Consumer Confidence

Japanese yen strengthens after Powell’s commentary on smaller hikes Temasek’s $245 million FTX loss ’caused reputational damage’ to Singapore, says deputy prime minister Singapore’s Deputy Prime Minister Lawrence Wong said the state sovereign wealth fund’s investment loss of $275 million in collapsed crypto exchange FTX is “disappointing and has caused reputational damage” to the city-state. … Read more

China’s zero-Covid has shaken confidence in supply chains

While Chinese authorities could gradually unwind restrictions in March, zero-Covid policies are starting to hurt global confidence in the country’s industrial supply chains, said Li Daokui, Mansfield Freeman professor of economics at China’s Tsinghua University. In the short term, supply chains will be largely unaffected since factories are still operating even if consumption is lower … Read more

China’s factory activity at lowest reading since April; Asia markets largely higher

China’s factory activity misses expectations, contracts for a second straight month China’s official manufacturing Purchasing Managers’ Index for November came in at 48, below the 50-point mark that separates growth from contraction. That’s lower than the expectations of analysts polled by Reuters, who predicted a reading of 49. October’s PMI was 49.2. PMI readings are … Read more