Friday, March 29, 2024

Asia Trade

Yuan Payments Surpassed Dollar in China

As China continued its attempt to shake its dollar hegemony, yuan payments surpassed the dollar for the first time in China's foreign trade transactions in March. Tthe yuan's payment ratio in external transactions stood at 48.4% last month, beating the...

BB&B Filed for Bankruptcy

BB&B, a leading meme stock in the U.S. stock market, eventually filed for bankruptcy protection on the 23rd (local time). BB&B issued a statement saying, "We eventually filed for bankruptcy protection due to financial difficulties," adding, "We will continue to...

TSMC Reported 2.1% YoY Net Profit Increase

Taiwan's TSMC, the world's largest semiconductor consignment producer, announced on the 20th that its net profit in the first quarter of this year rose 2.1% year-on-year to T$206.99 billion. According to the Central News Agency and Yonhap News Agency, TSMC...

CS is Found to Have Helped Tax Evasion

Credit Suisse (CS), which was recently sold to UBS, has been found to have continued to support Americans' overseas tax evasion in violation of an agreement with U.S. law enforcement authorities. According to the Wall Street Journal (WSJ) on the...

Asian Stocks Fell Due to SVB Bankruptcy

Asian stock markets plunged en masse due to the impact of the Silicon Valley Bank (SVB) bankruptcy. In particular, Korea's KOSPI recorded the largest drop. On the 14th, KOSPI of Korea, Nikkei of Japan, and ASX of Australia closed sharply...

Indonesia to Declare New Capital Next Year

Indonesia is pushing to relocate its capital to Nusantara due to overcrowding and rising sea levels. This is because 60% of the total population is concentrated on Java Island, where Jakarta, the current capital, is located, making it too economically...

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