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The Japanese yen rose in Asian trading on Monday against a basket of major and minor currencies, extending its gains for a third consecutive session against the US dollar and marking its highest level in two weeks. The currency continued to benefit from persistent weakness in the US dollar amid rising expectations of a Federal Reserve rate cut.   The advance was also supported by comments from Bank of Japan Governor Kazuo Ueda, who kept the door open for near-term policy normalization, boosting the likelihood of a rate hike in Japan this December.   Price overview   • USD/JPY today:…

Silver jumped more than 2 per cent to a record high, with traders placing speculative bets on the white metal given ongoing supply tightness and rising expectations for an interest-rate cut in the US. Gold was steady.Silver rose as high as US$57.86 an ounce, before paring some of its gains. The precious metal has risen for six consecutive days and doubled in value this year, outpacing a roughly 60 per cent rise in gold.A record amount of the metal flowed into London in October to ease a historic squeeze in the world’s biggest silver trading hub. This in turn has…

China’s state-asset watchdog has urged the country’s state-owned enterprises to act as an anchor for strategic industries, while also calling for a predictable, level playing field for private firms – a combination it said was essential for building world-class businesses.Zhang Yuzhuo, chairman of China’s State-owned Assets Supervision and Administration Commission (SASAC), outlined Beijing’s latest push to strengthen both the state and private sectors in an article published in Community Party newspaper People’s Daily on Monday.“We need to guide state capital to play a more active role in upgrading traditional industries, fostering cluster-based growth in strategic emerging sectors, and nurturing the…

The equities staged a swift recovery on Monday morning, rebounding from an early dip as investor sentiment steadied and volumes picked up on the first trading session of December. At 9:45am, the benchmark index was hovering at 166,972.83, an increase of 295.14 points or 0.18%. Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies and OMCs. Index-heavy stocks, including MARI, OGDC, PPL, PSO, SNGPL, WAFI, MCB, MEBL and NBP, traded in the green. The Pakistan Stock Exchange (PSX) ended the previous week on a strong upward trajectory, with the benchmark KSE-100…

Crypto exchange operator HashKey Holdings has cleared its Hong Kong listing hearing after an earlier confidential filing, paving the way for a deal that will test investor confidence in the digital asset sector amid evolving regulation.The operator of Hong Kong’s biggest licensed crypto exchange did not disclose the size or the timing of its initial public offering (IPO) in a filing on Monday. It was reported in October that HashKey could raise as much as US$500 million in a listing this year.Hong Kong has established regulatory regimes for exchanges, stablecoin issuers, dealing service providers and custodians, in moves that proactively…

Crypto exchange operator HashKey Holdings has cleared its Hong Kong listing hearing after an earlier confidential filing, paving the way for a deal that will test investor confidence in the digital asset sector amid evolving regulation.The operator of Hong Kong’s biggest licensed crypto exchange did not disclose the size or the timing of its initial public offering (IPO) in a filing on Monday. It was reported in October that HashKey could raise as much as US$500 million in a listing this year.Hong Kong has established regulatory regimes for exchanges, stablecoin issuers, dealing service providers and custodians, in moves that proactively…

India and Indonesia are close to finalising a US$450 million sale of BrahMos missiles, in a deal analysts say could give Southeast Asia a long-sought alternative to dependence on the US or China.The deal, discussed last Thursday during the third India–Indonesia Defence Ministers’ Dialogue co-chaired by Indian Defence Minister Rajnath Singh and his Indonesian counterpart Sjafrie Sjamsoeddin, would make Indonesia only the second Southeast Asian country after the Philippines to acquire the missile system.Negotiations between New Delhi and Jakarta have been completed, with only Moscow’s formal approval pending – a necessary step given Russia’s 49.5 per cent stake in the…

In an escalation of Beijing’s campaign against perceived pro-independence agitators, mainland Chinese authorities have issued arrest warrants and offered hefty rewards for two Taiwanese social media influencers accused of “inciting secession”.The public security bureau in Quanzhou, Fujian province announced on November 13 a bounty of 50,000 to 250,000 yuan (US$7,040 to US$35,200) for tips leading to the capture of 25-year-old Chen Po-yuan, known online as “Minnan Wolf”, and his collaborator, Wen Tzu-yu.Minnan refers to Southern Min, a group of Chinese dialects spoken in Fujian and Taiwan.The notice, featuring their photos, Taiwanese ID numbers and birth dates, accuses the pair of…

PARIS: Airbus fleets were returning towards normal operations on Monday after the European planemaker pushed through abrupt software changes faster than originally expected, as it wrestled with safety headlines long focused on rival Boeing. Dozens of airlines from Asia to the United States said they had carried out a snap software retrofit ordered by Airbus, and mandated by global regulators, after a vulnerability to solar flares emerged in a recent mid-air incident on a JetBlue A320. But some require a longer process and Colombia’s Avianca continued to halt bookings for dates until December 8. Sources familiar with the matter said…

PERTH: Oil prices rose as much as 1.5% on Monday after OPEC+ members reaffirmed a plan to pause production increases in the first quarter of next year and the prospect of U.S. action against oil producer Venezuela unsettled the market. Brent crude futures later pared gains to sit up 0.98%, or $62.99, a barrel by 0052 GMT. U.S. West Texas Intermediate crude was at $59.12, up 57 cents, or 0.99%. The Organization of the Petroleum Exporting Countries and allies initially agreed on the pause in early November, slowing a push to regain market share amid fear of a supply glut.…