Latest news with #LISAKIM
Nikkei Asia
11 hours ago
- Business
- Nikkei Asia
Chinese banks trim dollar lending to developing Asia
China's efforts to bolster the global status of its currency in cross-border lending has gained traction since early 2022, primarily to developing countries in Asia. © Reuters STELLA YIFAN XIE and LISA KIM HONG KONG/TOKYO -- The dollar is losing share to the Chinese yuan in lending to developing nations in Asia, marking a rare success for Beijing in its yearslong efforts to challenge the dominance of the greenback. Between the first quarter of 2022 and the second quarter of 2024, dollar-denominated loans to emerging Asian economies declined 16%, due to Chinese banks increasingly shifting to yuan-denominated lending, according to a study published in May by the Federal Reserve.
Nikkei Asia
2 days ago
- Business
- Nikkei Asia
Japan bond yields jump on fiscal fears ahead of upper house vote
Bonds Opposition parties calling for tax cuts gain traction with voters Bond investors are pricing in fiscal deterioration in Japan as the upper house election approaches. (Photo by Yutaka Miyaguchi) LISA KIM TOKYO -- Japanese government bond yields jumped this week, as investors fret over the country's fiscal health and a looming upper house election that threatens to shift power away from the ruling coalition. Yields on benchmark 10-year Japanese government bonds (JGBs) rose to 1.595% on Tuesday, their highest level in about 17 years. 20-year JGB yields rose to 2.650%, their highest in some 25 years. 30-year JGB yields hit 3.200%, an all-time high since the government started issuing these ultra-long bonds in 1999. Bond yields move inversely to prices.
Nikkei Asia
08-07-2025
- Business
- Nikkei Asia
Asian currencies weaken, stocks muted on Trump's new tariffs
A new tariff rate of 25% on Japan is 1 percentage point higher than what U.S. President Donald Trump had suggested on April 2. © Reuters LISA KIM and JADA NAGUMO TOKYO -- Asian currencies depreciated against the dollar on Tuesday morning after U.S. President Donald Trump sent letters to the nation's top allies notifying them of their new tariff rates. The Japanese currency extended losses early in the day after weakening around 1% against the dollar to the 146-yen level in New York trading. The yen slid to a year-low against the euro at 171.40, down around 0.5%. The South Korean won fell around 1% against the greenback before paring losses.
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Nikkei Asia
26-06-2025
- Business
- Nikkei Asia
Yen muted as BOJ decides on a more gradual bond buying taper
The Bank of Japan has been tapering its bond purchases since August as part of its decision to normalize its ultraloose monetary policy. (Photo by Akira Kodaka) LISA KIM TOKYO -- The Japanese yen was largely flat Tuesday after the Bank of Japan said at the end of its policy meeting that it would be less expeditious in reducing its bond purchases, as expected. The currency traded at around 144.70 to the dollar as of 5:16 p.m. Tokyo time, trimming gains to levels seen before the policy decision. The currency fluctuated in a narrow band during BOJ Gov. Kazuo Ueda's post-policy meeting news conference.
