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Latest: Asia Stock Market News

China’s Yuan Leapfrogs Yen in Global Payments Rankings – FT
China’s Yuan Leapfrogs Yen in Global Payments Rankings – FT

Analysts said the renminbi’s advance was likely to be welcomed by Beijing, which is keen to increase the currency’s international profile

Tesla Gains $31m Shanghai Land For New Megapack Battery Plant
Tesla Gains $31m Shanghai Land For New Megapack Battery Plant

Tesla paid 222.42 million yuan ($31.13 million) for use rights to a 19.7-hectare (48.7 acres) plot in Shanghai for $31.13 million

Hang Seng Dips on China Gaming Curbs, US Bets Lift Nikkei
Hang Seng Dips on China Gaming Curbs, US Bets Lift Nikkei

Beijing revealed new draft curbs on gamers’ spending which weighed on tech stocks though there were hopes of more upbeat US data

China’s BYD Plans EV Production Base in Hungary
China’s Geely Says Ship Attacks Will Delay EV Arrivals in EU
Tencent, Netease Shares Plunge After China Issues Gaming Rules
Japan Looking to Trim Budget for First Time in 12 Years
Inflation Worries Mount as Exporters Hunt Ways Around Red Sea
China Curbs The Export of Rare Earths Processing Technology
Xi Warned Biden That China Would Reunify With Taiwan – NBC

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Markets: The Big Picture

ASML in the Centre of the Chip War

With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors