Markets

Tech shares rise in China, HK; investors evaluate Mideast peace talks

SHANGHAI: Tech shares rose across mainland China and Hong Kong markets on Tuesday, led by gains in Tencent and Meituan, while investors cautiously evaluated Middle East peace talks.

Markets

GIC-backed Asia Healthcare eyes IPO within 12-18 months, cautious on market volatility

BENGALURU: Asia Healthcare Holdings (AHH) is considering listing its shares within the next 12 to 18 months, although it remains wary of market volatility, Executive Chairman Vishal Bali said.

Forex

Dollar stuck in narrow band as traders eye Middle East, US data

The dollar traded in a tight range on Tuesday as investors watched for progress on a potential deal to reopen the Strait of Hormuz, while awaiting key U.S. economic data later in the day, which could shape the Federal Reserve's policy path.

Business

Thailand sees 2% growth and 3% inflation in 2026, central bank chief says

BANGKOK: Thailand's economy is expected to grow 2% this year, central bank governor Vitai Ratanakorn told a news briefing on Tuesday.

Commodities

Gold gains on easing Treasury yields amid Mideast uncertainty

Gold prices rose on Tuesday, supported by lower Treasury yields and a partial ceasefire between Hezbollah and Israel, while investors awaited details on the status of U.S.-Iran peace talks amid conflicting news.

Economy

Indonesia April trade surplus smallest in six years, May inflation quickens

JAKARTA: Indonesia posted its smallest trade surplus in six years in April, while its annual inflation rate in May moved closer to the top end of the central bank's target range as a result of rising food and transport prices, official data showed on Tuesday.

Technology

YTL AI Cloud achieves NVIDIA exemplar cloud status

KUALA LUMPUR: YTL Artificial Intelligence (AI) Cloud has officially achieved the NVIDIA Exemplar Cloud status, making it one of the first cloud infrastructure providers in Asia to earn this validation, placing it within an elite tier of global hyperscalers and AI-specialised clouds.  

Markets

Southeast Asia stocks rise as trading resumes; South Korean equities retreat from peak

Stock markets across major Southeast Asian countries rose on Tuesday as trading resumed after a long weekend, while South Korean equities pulled back from record highs following a sharp rally in recent sessions.

Energy

Oil slips after Trump says talks with Iran are ongoing

Oil prices trended lower on Tuesday following the previous session's sharp gains as the market remained cautious about progress in U.S.-Iran peace talks.

Business

Trump administration proposes 25% tariff to punish Brazil over trade practices

WASHINGTON: The Trump administration has proposed a new punitive tariff of 25% on many imports from Brazil, after deciding its practices were unfair on a range of issues from digital trade to illegal deforestation, top trade official Jamieson Greer said on Monday.

Economy

Indonesia May inflation picks up to 3.08% y/y

JAKARTA: Indonesia's annual inflation rate quickened to 3.08% in May from 2.42% the previous month, data showed on Tuesday, lifted closer to the top end of the central bank's target range by rising prices of food and transport.

Forex

China's yuan hits 3-year high; investors eye Mideast peace talks

SHANGHAI: China's yuan inched firmer to hit a more than three-year high against the dollar on Tuesday, but gains were capped as investors cautiously evaluated Middle East peace talks.

Corporate News

General Mills to sell Haagen-Dazs ice-cream shops in mainland China

General Mills said on Monday it will sell its Haagen-Dazs ice-cream shops in mainland China to an investor group that includes local tea chain operator Ningji, as part of a strategy to focus on businesses with stronger profit growth.

Investment

Blackstone raises US$13.1bil for its largest Asia private equity fund

ALTERNATIVE asset manager Blackstone said on Tuesday it has raised $13.1 billion for its Asia private equity fund, exceeding its initial target and marking its largest such fundraise in the region.

Economy

AMRO keeps ASEAN+3 growth forecast at 4%, raises inflation outlook

SINGAPORE: Asean+3 Macroeconomic Research Office (AMRO) has maintained its Asean+3 growth forecast at 4% for 2026, while raising its inflation projection to 1.8% from 1.4%, reflecting more prolonged disruptions from the Middle East conflict.

Markets

Japan's Nikkei retreats from record peak as traders gauge fragile Mideast peace talks

TOKYO: Japan's Nikkei share average retreated on Tuesday from a record high hit in the previous session, as investors cautiously assessed Middle East peace talks, with broader geopolitical uncertainties weighing on risk appetite.

Markets

Asia stocks skittish as Middle East anxiety offsets AI optimism

SINGAPORE: Asian stocks made a cautious start to trading on Tuesday as uncertainty over whether the ceasefire in the Middle East conflict would hold capped the lift to sentiment from renewed optimism around AI.

Business

Malaysia manufacturing PMI slips to 49.9 in May after two months of expansion

KUALA LUMPUR: Malaysia's manufacturing sector recorded a slight deterioration in business conditions in May, with the S&P Global Malaysia Manufacturing Purchasing Managers' Index (PMI) easing to 49.9 from 51.6 in April.

Economy

South Korea inflation hits two-year high, imminent rate hike in play

SEOUL: South Korea's consumer inflation quickened in May to a more than two-year high, exceeding market expectations on high oil prices triggered by the Middle East conflict, supporting the case for monetary tightening as early as next month.

Economy

Australia lifts minimum wage to match increases in inflation

SYDNEY: Australia's independent wage-setting body said on Tuesday that the country's lowest-paid workers will get a 4.75% pay rise from July, roughly in line with an expected rise in inflation projected by the central bank.