Shares of major Asian chip stocks mostly rose on Tuesday, shrugging off the U.S. announcing new emiconductor export controls on China.
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GM to sell stake in battery cell plant to joint venture partner for roughly $1 billion
General Motors plans to sell its stake in a $2.6 billion electric vehicle battery cell plant in Michigan to its joint venture partner LG Energy Solution.
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South Korea’s inflation climbs in November, but misses expectations
Last week, the bank of Korea cut its headline inflation outlook for 2024 and 2025 to 2.3% and 1.9% respectively, down from 2.5% and 2.1%.
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Chinese automakers BYD, Leapmotor and Xiaomi smash annual delivery targets ahead of schedule
The Chinese automakers have raced past their annual delivery targets a month ahead of schedule, underscoring their rapid growth and strong market demand.
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Adani investor GQG’s shares plunge over 15% after UBS downgrades stock, cuts target price
UBS also cut its target price on the firm from AU$3.30 to AU$2.30, and this marks the Swiss bank’s first ever downgrade of the stock since its listing.
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Caixin PMI: China’s November factory growth hits five-month high, beats forecasts
Manufacturers saw incoming new orders rise at its fastest pace in more than three years, signaling that stimulus efforts have already seeped into the economy.
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Adani Green soars 19% as group stocks recover sharply amid ongoing U.S. legal challenges
Shares in India’s Adani Group have been rallying on the back of the group’s statement refuting bribery charges against its billionaire chairman, Gautam Adani.
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India’s quarterly growth slumps to a near two-year low, well below expectations
The Reserve Bank of India had forecast an expansion of 7% for the period.
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South Korea’s largest K-pop agency loses $423 million in value as girl group NewJeans set to part ways
The group claimed that there was a breach of contract by their label ADOR, which is a sublabel of K-pop powerhouse Hybe.
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China plans to restrict exports of a critical metal. But the market isn’t that worried
China dominates 80% of the global tungsten supply chain.