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Latest: Asia Stock Market News

China-Saudi Sign $7bn Currency Swap Deal in Fresh Hit to Dollar
China-Saudi Sign $7bn Currency Swap Deal in Fresh Hit to Dollar

The People's Bank of China said the deal "will help strengthen financial cooperation" and "expand the use of local currencies"

Stellantis and CATL to Build EV Battery Factory in Europe
Stellantis and CATL to Build EV Battery Factory in Europe

Stellantis and CATL have a preliminary agreement on producing lithium iron phosphate (LFP) batteries for the automaker's EVs in Europe

Yen Gains Weigh on Nikkei, Hang Seng Dips Despite Tech Boost
Yen Gains Weigh on Nikkei, Hang Seng Dips Despite Tech Boost

Investor mood was mixed with bets on an end to central bank tightening failing to sustain an early session rally

COP28: France, US to Seek Ban on Private Funds for Coal Plants
Japan’s Salaries Surge Could See BoJ Turn to Tightening
Xinjiang Exports Jump as Trade to Central Asia Rises – Nikkei
Turmoil at OpenAI After Board Coup, Altman Heads to Microsoft
Workers in Cambodia Made Ill by ‘Toxic’ Fast Fashion Waste
Nikkei U-Turn After Early Surge, Hang Seng Enjoys Tech Boost
Japan to Drop Quarterly Reports for Listed Businesses – Nikkei

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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