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Nikkei Asia
11 hours ago
- Nikkei Asia
US tariff deadline, BOJ monetary policy, Nintendo earnings
Welcome to Your Week in Asia. With several countries in Asia having now secured tariff deals with the U.S. -- even as details remain scarce or disputed for many of them -- the pressure is on those that haven't, with U.S. President Donald Trump's latest deadline for negotiations now just days away. The trade dislocations unleashed by Trump will be among the factors weighing on central bankers from the U.S., Singapore and Japan this week as they decide how to act on interest rates. Get the best of our coverage of Asia and much more by following us on X, where our handle is @NikkeiAsia. We are also now on Bluesky, with the handle @ MONDAY Marcos national address Philippine President Ferdinand Marcos Jr. is set to deliver his fourth State of the Nation Address, an annual event typically used to underscore the government's accomplishments and outline policy. Last year, Marcos Jr. notably condemned China's maritime aggression and ordered a ban on offshore gambling. This year, his address takes place against a backdrop of heightened domestic political turbulence and pressing economic concerns. U.S.-China talks The U.S. and China begin their third round of talks in Stockholm amid a possible extension of their trade truce beyond the Aug.12 deadline. Washington plans to raise issues including China's industrial overcapacity, economic imbalances and continued oil purchases from Iran and Russia. China, on the other hand, says it will seek to "enhance consensus, reduce misunderstandings and strengthen cooperation" with the U.S. Earnings: Singapore Airlines TUESDAY IPO: Oxford Innotech Earnings: ANA WEDNESDAY Fed rate decision The U.S. Federal Reserve will conclude its two-day meeting and reach its latest monetary policy decision. Markets do not expect a rate cut in the meeting, but all eyes are on Chair Jerome Powell's news conference. Market watchers will be seeking clues on the next rate cut, as well as any response to Trump's strong criticisms of the Fed chair. Singapore monetary policy statement Singapore's central bank will announce its monetary policy statement, with some economists expecting further easing, given a forecast economic slowdown in the second half of the year driven by ongoing U.S. tariff uncertainties. The city-state predicts its economy will grow between zero and 2% this year. Nissan earnings Nissan Motor will release its April-to-June results. The company is expected to update investors about progress in its business restructuring and how much its bottom line has been affected by the 25% automotive tariffs set by the U.S. Earnings: JAL, Kansai Electric Data: Philippines trade, Sri Lanka inflation THURSDAY BOJ monetary policy The Bank of Japan wraps up its two-day policy meeting. While market participants expect the central bank to hold interest rates steady, the focus will be on what Gov. Kazuo Ueda says in the wake of the upper house election and the Japan-U.S. trade deal. The BOJ will also release its latest inflation and economic outlook. Earnings: Apple, Sumitomo, Grab, Keppel, Siam Cement, SK Innovation, JERA FRIDAY U.S. tariff deadline After a monthslong pause, Trump is set to impose varying tariff rates on dozens of countries, although some have made arrangements with Washington to lower the U.S. duty rate, although details have yet to be revealed. Governments that have not reached a deal with the U.S. will be slapped with a steep, country-specific tariff rate, which will likely increase costs for U.S. households. Nintendo earnings Nintendo releases its April-to-June earnings following the release of its Switch 2 game console in June. Investors are eager to hear an update on Switch 2 sales, as well as how it is contributing to the company's finances. Other earnings: Nippon Steel, Marubeni, Itochu, OCBC, Mitsui & Co, Tata Power
Yomiuri Shimbun
15 hours ago
- Yomiuri Shimbun
Hong Kong Issues Arrest Warrants for 19 Overseas Activists Accused of Subversion
HONG KONG, July 25 (Reuters) – Hong Kong's national security police announced arrest warrants for 19 activists based overseas, accusing them of subversion under a stringent national security law, marking the largest such tally yet. They are accused of organising or participating in the 'Hong Kong Parliament', a group that authorities in the Asian financial hub say aimed to subvert state power, under the law Beijing imposed in 2020 following months of pro-democracy protests in 2019. The activists are accused of having launched a referendum or run as candidates in the unofficial 'Hong Kong Parliament' group, which authorities say aims at achieving self-determination and drafting a 'Hong Kong constitution'. Police, who said the organisation sought to overthrow the governments of China and Hong Kong by unlawful means, said they are still investigating and further arrests may follow. Among those named are businessman Elmer Yuen, commentator Victor Ho, and activists Johnny Fok and Tony Choi. Four of them are subject to previous arrest warrants, each carrying a bounty of HK$1 million ($127,000). Among the remaining 15, for each of whom police are offering a bounty of HK$200,000 ($25,480), are those said to have organised or run in the election and sworn in as its councillors. None of the accused could be reached for comment. U.S. Secretary of State Marco Rubio on Saturday condemned the move, which he said targeted some U.S.-based individuals. 'We will not tolerate the Hong Kong government's attempts to apply its national security laws to silence or intimidate Americans or anyone on U.S. soil,' he wrote in a statement, calling it 'a form of transnational repression.' The UK's Foreign and Home Secretaries also condemned the move in a joint statement, calling the arrests 'another example of transnational repression' and saying it damages Hong Kong's international reputation. '(The UK) will not tolerate attempts by foreign governments to coerce, intimidate, harass or harm their critics overseas,' it said in a statement on Friday. In response, the Chinese embassy in the UK said the British government's remarks 'constitute a gross interference' in China's internal affairs and the rule of law in Hong Kong. 'China urges the UK to abandon its colonial mentality, stop interfering in Hong Kong affairs…stop shielding criminals,' it said. The former British colony returned to Chinese rule in 1997 with the guarantee of a high degree of autonomy, including freedom of speech, under a 'one country, two systems' formula. Critics of the national security law say authorities are using it to stifle dissent. Chinese and Hong Kong officials have repeatedly said the law was vital to restore stability after the city was rocked for months by sometimes violent anti-government and anti-China protests in 2019. Police reiterated that national security offenses were serious crimes with extraterritorial reach and urged the wanted individuals to return to Hong Kong and surrender. 'If offenders voluntarily give up continuing to violate the crime, turn themselves in, truthfully confess their crimes, or provide key information that helps solve other cases, they may be eligible for reduced punishment,' they said in a statement. Police also warned that aiding, abetting, or funding others to participate in the 'Hong Kong Parliament' could be a criminal offense. ($1=7.8488 Hong Kong dollars)
Nikkei Asia
a day ago
- Nikkei Asia
Thai-Cambodia clashes live: Trump seeks ceasefire, calls both sides
BANGKOK -- Military clashes between Thailand and Cambodia entered a second day on Friday, leaving "more than 20 deaths" in Thailand, according to the acting Thai prime minister, and one civilian dead in Cambodia. More than 130,000 people have been evacuated in Thailand, while Thai financial institutions with branches in Cambodia are gradually repatriating staff. Here are recent Nikkei Asia analysis and opinion articles on the crisis: - With war in mind, Thai military rolls out battle plans on Cambodia front - Cambodia seeks justice, not conflict, in border dispute with Thailand - Hun Sen's gamble: Why Cambodia ex-ruler turned on Thai ally Thaksin Follow the latest developments in this live blog. (Thailand and Cambodia time) For Thursday's developments, visit our previous live blog. July 26 10:45 p.m. U.S. President Donald Trump says he is seeking a ceasefire to the conflict, making calls to the leaders of Thailand and Cambodia. "I have just spoken to the Acting Prime Minister of Thailand, and it was a very good conversation. Thailand, like Cambodia, wants to have an immediate Ceasefire, and PEACE," Trump posts on Truth Social, adding he will relay the message to Cambodian Prime Minister Hun Manet. "After speaking to both Parties, Ceasefire, Peace, and Prosperity seems to be a natural. We will soon see!" Trump writes. July 25 9:17 p.m. Col. Richa Suksuwanont, deputy spokesperson for the Royal Thai Army, announces a total loss of six military personnel, as of 8 p.m., during national defense operations in the clashes that broke out July 24. 8:33 p.m. The Thai government "agrees with in principle and will consider" Malaysian Prime Minister Anwar Ibrahim's mediation effort for a ceasefire, but "any ceasefire must be based on appropriate on-the-ground conditions," the Ministry of Foreign Affairs says in a social media post. It claims that Cambodian forces have continued attacks on Thai territory and their actions "demonstrate a lack of good faith." 8:30 p.m. Thailand declares martial law for eight districts in provinces of Chanthaburi and Trat, both near the Cambodia border, effective immediately. "This action has become unavoidably necessary to mobilize military, police, civilian forces, and the Thai public to defend the country from external threats to the Kingdom," the statement said. Martial law is implemented in Trat province's Khao Saming district and the following districts in Chanthaburi province: Mueang Chanthaburi, Tha Mai, Makham, Laem Sing, Kaeng Hang Maeo, Na Yai Am and Khao Khitchakut. 5:45 p.m. Cambodian Prime Minister Hun Manet posts on social media about his position on the call for an immediate ceasefire, which was suggested by Malaysian Prime Minister Anwar Ibrahim to Thai and Cambodian leaders on Thursday. "Cambodia agreed with his proposal for a ceasefire because Cambodia did not initiate this fighting," he said. According to Hun Manet, he received an initial response that the Thai side had agreed to his proposal for a ceasefire at midnight. "However, it is regrettable that just over an hour later, the Thai side informed that they had reversed their position from agreeing to the ceasefire at 12:00 AM on 24 July 2025, to not agreeing and waiting for a later date," he said. 5:20 p.m. At a news conference, Cambodia's Ministry of Defense spokesperson Maly Socheata detailed three separate attacks reported from the front lines. She said that Thailand had made four F-16 strikes at around noon near the ancient Preah Vihear temple complex and another contested temple site, Ta Krabei. Additionally, Thai strikes had hit Samraong town in Oddar Meanchey province, injuring children and elderly people. "The most regretful thing is that it affected children. In addition, it has completely destroyed the electricity grid in Samraong," she said. She added that four munitions had landed at the Monorom Primary School in Banteay Ampil district, Oddar Meanchey province, citing information from the Education Ministry. 4:20 p.m. The Thai Red Cross Society has launched a nationwide blood donation campaign. The drive is to replenish blood reserves and essential supplies for hospitals in the border regions affected by recent clashes between Thai and Cambodian forces. 3:10 p.m. Cambodia's Ministry of Culture and Fine Arts briefed members of the Preah Vihear temple's governing body, detailing the damage incurred after Thai armed forces allegedly used "heavy artillery" and "bombs from F-16s" at the heritage site and surrounding areas. This included visible damage to four entranceways at the temple and other structures at the site. The ministry also released photos and a map of the site where damage had occurred. 2:30 p.m. Thai army spokesperson Maj. Gen. Winthai Suvaree called Cambodia's allegations that Preah Vihear Temple was damaged due to Thai attacks "a clear distortion of the facts." "The Preah Vihear Temple was not within the direction or scope of Thai military operations," Winthai said in a statement. He made the comment after Cambodia's Ministry of Culture and Fine Arts said Thursday that Thailand's "aggression" has "caused significant damage to both the surrounding area and the structures" of the UNESCO World Heritage site. 2:05 p.m. Indonesian State Secretary Prasetyo Hadi said he hoped that the Thai-Cambodia tensions will not intensify as it could have wider repercussions, including on Indonesia. He added, though, that the government would refrain from commenting on domestic political situations of other countries. About 166,000 Indonesians work in Cambodia and more than 2,300 live in Thailand, so the Indonesian foreign ministry is monitoring the situation closely. "We will ensure the safety of our citizens. And if anything happens, we have mitigation measures in place," Hadi said. 1:50 p.m. Rear Admiral Surasant Kongsiri, the spokesperson of Thailand's ad hoc center for the border said the Ministry of Interior has now evacuated more than 130,000 civilians from Buriram, Surin, Sisaket and Ubon-Ratchathani provinces. "The provinces have established evacuation shelters capable of accommodating over 300,000 people and deployed village security units to ensure the safety of civilians in various areas," he said. He added the Ministry of Public Health has evacuated 11 hospitals. 1:10 p.m. Thai financial institutions with branches in Cambodia are gradually repatriating staff, according to the Bank of Thailand's Assistant Governor Suwannee Jatsadasak. "All of them are expected to return by today," she said, adding that some branches in the border provinces have been closed. "As for impacts to Thailand, uncertainty remains in many dimensions, and it is too soon to make assessments. BOT will continue to monitor the situation closely," she said. 1 p.m. Rear Admiral Surasant Kongsiri, spokesperson of Thailand's ad hoc center for the border situation, told reporters that as of 8:30 a.m., the Cambodian forces continued to use heavy weapons to attack the front lines and rear areas, affecting civilians. Clashes have been reported in 12 locations, according to Surasant. 12:40 p.m. Thailand's Interior Ministry said it had evacuated 100,672 civilians from the four provinces affected by the cross-border clashes with Cambodia. A total of 56,000 people were moved in Surin province, 17,196 in Sisaket, 17,000 in Buriram and 10,476 people in Ubon Ratchathari. 12:30 p.m. The Thai armed forces said it believes Hun Sen, the former Cambodian prime minister, is behind the attack on civilian targets, calling for international organizations to investigate. "Targeting civilians with intent is a war crime, and those responsible must be brought to justice," Maj. Gen. Vithai Laithomya, spokesperson of the Royal Thai Armed Forces Headquarters, said in a statement. "Based on the available evidence, it is believed that the Cambodian government, led by Samdech Akka Moha Sena Padei Techo Hun Sen, is behind these heartbreaking attacks." 12:15 p.m. The contested areas on the Thai-Cambodia border are in the Thai provinces of Buriram, Surin, Sisaket and Ubon-Ratchathani and the Cambodian provinces of Oddar Meanchey and Preah Vinear. Two of the biggest flashpoints are the Prasat Ta Moan Thom and Preah Vihear temples. 11:25 a.m. Thailand's acting Prime Minister Phumtham Wechayachai told reporters that he had received reports of "more than 20 deaths" and several people severely injured. He also talked about his conversation with Malaysian Prime Minister Anwar Ibrahim, who spoke to the leaders of both sides calling for an immediate ceasefire, on Thursday evening. "I told him I'm OK with it in principle. But to specify [the] exact time and date, I ask Cambodia first to prove their intention that they really mean it," he said. "We've been adhering to the principle of peace and trying to request negotiation, but they never cared, and it is us who always proposed... conditions. It shows their lack of sincerity." 11:20 a.m. The Cambodian Mine Action and Victim Assistance Authority (CMAA) released a statement Friday saying that ground reports from local authorities and demining teams showed that Thailand had used cluster munitions in populated areas around Phnom Khmuoch, near the border. "The use of cluster munitions -- especially in or near civilian areas -- is an unacceptable escalation. It shows complete disregard for human life, humanitarian principles and regional peace," said Ly Thuch, vice president of the CMAA. Defense Ministry spokesperson Maly Socheata reiterated the accusation at a press conference and claimed it demonstrated Thailand's willingness to break international law. Thailand and Cambodia are not parties to the Convention on Cluster Munitions, which prohibits the production, use and stockpiling of cluster munitions. 10:15 a.m. Indonesia's foreign ministry said that the country was closely following the development. "We are confident that the two neighboring countries will immediately return to peaceful means to settle their differences in line with the principles enshrined in the ASEAN Charter and the Treaty of Amity and Cooperation," it said in a social media post. 10 a.m. Cambodian Defense Ministry spokesperson Chhum Socheat said on Friday that firing continued overnight but the intensity of shelling was less than the previous day. He also claimed that the Thai military was using surveillance drones in Preah Vihear province. "At around 2 a.m., shots were fired from both sides along the border," Socheat said. "There has been an exchange of fire from last night until this morning. Our soldiers are in control and protecting all areas, but the Thais are still trying to fly drones to shoot at our areas." Chhum Socheat did not comment on whether there were any casualties among civilians and military personnel. However, Met Measpheakdey, deputy governor of Oddar Meanchey province -- where firing was reported on Thursday -- said one civilian was killed and five others injured. Thailand's Second Army Area, which is leading the fighting along the Thai border, also said clashes continued on Friday. 7:50 a.m. The deputy spokesperson of Thailand's Ministry of Health, Varoth Chotpitayasunondh, has posted updated Thai casualty figures on his Facebook account. He said 13 civilians and one soldier were killed and 32 civilians and 14 soldiers injured.
