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Tag: South Korea

  • Eastern transport massive to participate in tidal energy mission deliberate for Singapore

    Constructions in Singapore at nightfall. Asia is already house to plenty of tidal energy initiatives.

    Guvendemir | E+ | Getty Pictures

    Eastern transport massive Nippon Yusen Kaisha is to participate in a tidal energy mission deliberate for Singapore, because the rising marine power sector features traction.

    The demonstration mission, run through Singapore-owned Bluenergy Answers, is concentrated at the building of off-grid tidal energy methods. The hope is that they may someday substitute diesel turbines.

    The scheme will see three-bladed generators — portions of which endure a resemblance to those used on wind farms — deployed underwater.

    NYK stated it will be operating on 3 spaces as a part of the off-grid mission: power garage, the price of energy era and the potency of energy era.

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    Established in 1885, Tokyo-listed NYK is all for bulk transport, air shipment transportation and logistics, amongst different issues.

    Ultimate week’s announcement represents its newest foray into tidal energy. It used to be in the past all for a mission that put in generators underneath the Sentosa Boardwalk, which hyperlinks the Singapore mainland to Sentosa Island.

    Tasks like those being deliberate for Singapore are of their early levels, however Asia is already house to South Korea’s Sihwa Lake Tidal Energy Plant. A tidal barrage energy plant, it began operations in 2011 and is claimed to be the most important tidal plant on this planet.

    In line with U.S. database Tethys, tidal barrages are “usually constructed around the front to a bay or estuary” and convey electrical energy through harnessing “the variation in water top outside and inside of the construction.”

    Whilst tidal barrage trends have been the preliminary center of attention of the ones working within the marine power trade — EDF’s L. a. Rance tidal barrage dates again to the Nineteen Sixties, as an example — contemporary years have noticed corporations center of attention their consideration on other methods.

    Those come with tidal circulation units which, the Eu Marine Power Centre says, “are extensively very similar to submerged wind generators.”

    Loads of doable, paintings to be accomplished   

    The Global Power Company has stated that “marine applied sciences dangle nice doable,” however provides that further coverage toughen for analysis, building and demonstration is needed to cut back prices.

    Clear of Asia, Eu installations of tidal and wave power capability jumped in 2021, as deployments reverted to pre-pandemic ranges amid a considerable build up in funding.

    In March, Ocean Power Europe stated 2.2 megawatts of tidal circulation capability used to be put in in Europe final yr, when put next with simply 260 kilowatts in 2020. For wave power, 681 kilowatts used to be put in in Europe in 2021, which OEE stated used to be a threefold build up on 2020.

    Globally, 1.38 MW of wave power got here on-line in 2021, whilst 3.12 MW of tidal circulation capability used to be put in.

    Whilst there’s pleasure about the potential for marine power, the total measurement of tidal circulation and wave initiatives stays very small when put next with different renewables.

    In 2021 by myself, Europe put in 17.4 gigawatts of wind energy capability, in step with figures from trade frame WindEurope.

  • Nancy Pelosi vows beef up to denuclearise North Korea, plans to seek advice from Korea border

    US Area of Representatives Speaker Nancy Pelosi and her South Korean counterpart vowed on Thursday to beef up efforts to take care of a powerful deterrence in opposition to North Korea and reach its denuclearisation.

    A joint observation used to be issued after Pelosi met South Korea’s Nationwide Meeting Speaker Kim Jin-pyo in Seoul, by which they expressed considerations over the North’s evolving nuclear and missile threats.

    “Each side expressed considerations in regards to the dire scenario of North Korea’s rising danger,” the observation mentioned. “We agreed to beef up the efforts of the 2 governments to reach sensible denuclearisation and peace via world cooperation and diplomatic discussion, in keeping with the robust and prolonged deterrence in opposition to the North.”

    Pelosi additionally mentioned at a information convention that she and Kim mentioned tactics to spice up cooperation on regional safety and financial and local weather problems.

    Pelosi arrived in South Korea overdue on Wednesday following a short lived forestall in Taiwan, and met US embassy officers in Seoul previous on Thursday earlier than talks with Kim and different lawmakers.

    Afterward Thursday, Pelosi plans to seek advice from the Joint Safety House close to the closely fortified inter-Korean border, patrolled in combination through the American-led UN Command and North Korea, a South Korean legitimate mentioned.

    She will be the highest-level US legitimate to seek advice from the realm after former President Donald Trump, who met North Korean chief Kim Jong Un there in 2019.

    South Korean President Yoon Suk-yeol didn’t meet Pelosi because of his scheduled holiday this week, however held a 40-minute telephone name along with her the place he promised shut cooperation with the United States Congress for the advance in their world strategic alliance, Deputy Nationwide Safety Adviser Kim Tae-hyo advised newshounds.

    Yoon additionally mentioned that Pelosi’s deliberate seek advice from to the closely fortified inter-Korean border house will probably be “an indication of a powerful deterrence in opposition to North Korea.”

    The presidential workplace in a separate press liberate mentioned Yoon, all the way through the telephone name, expressed his hopes to fulfill Pelosi when he visits the US to speak about tactics to fortify the alliance between the 2 nations.

    South Korean media speculated that Yoon may well be shunning assembly Pelosi in particular person to keep away from antagonising China, after her seek advice from to Taiwan led to outrage in Beijing, which claims the self-governed island as its personal.

    Choi Younger-bum, senior presidential secretary for public members of the family, alternatively, advised newshounds that “each choice used to be made in attention of our nationwide pastime”, and that there will probably be no exchange within the place to place the South Korea-US alliance above all.

    When requested whether or not the nationwide pastime additionally integrated diplomatic members of the family and the regional scenario, Choi declined to remark.

  • Hong Kong’s Dangle Seng down 2% as Asia markets drop; South Korea’s inflation rises

    SINGAPORE — Asia-Pacific shares fell on Tuesday as South Korea’s inflation rose and buyers stay up for the Reserve Financial institution of Australia’s rate of interest choice.

    Hong Kong’s Dangle Seng index fell 2.13% in early business, and the Dangle Seng Tech index slipped 3.1%.

    The town’s gross home product shrank through 1.4% in the second one quarter of 2022, in keeping with advance estimates launched through the federal government on Monday. GDP reduced through 3.9% within the first quarter of the yr.

    Mainland China shares additionally dropped. The Shanghai Composite misplaced 1.49% and the Shenzhen Part shed round 2%.

    The Nikkei 225 in Japan slipped 1.35%, and the Topix index misplaced 1.72%.

    Australia and South Korea noticed extra average losses.

    In South Korea, the Kospi shed 0.45% and the Kosdaq declined 0.38%.

    Client costs in South Korea rose 6.3% in July when put next with the similar duration in 2021, reliable information confirmed on Tuesday. That is consistent with expectancies and the quickest acceleration in costs since November 1998, Reuters reported.

    The Financial institution of Korea raised charges through 50 foundation issues in July.

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    Australia’s S&P/ASX 200 was once 0.34% decrease.

    The Reserve Financial institution of Australia is predicted to hike through 50 foundation issues after reliable information confirmed costs in Australia rose 6.1% in the second one quarter when put next with a yr in the past.

    MSCI’s broadest index of Asia-Pacific stocks out of doors of Japan declined 1.33%.

    In a single day within the U.S., the Dow Jones Commercial Reasonable misplaced 46.73 issues, or 0.14%, to 32,798.40.

    The S&P 500 shed 0.28% to 4,118.63 and the Nasdaq Composite misplaced 0.18% and closed at 12,368.98.

    Currencies

    The U.S. greenback index, which tracks the dollar towards a basket of its friends, was once at 105.224.

    The Eastern yen traded at 130.63 in step with greenback, proceeding its strengthening development. The Australian greenback was once at $0.7014, after breaking above $0.7.

    “The AUD is upper because the USD drifted decrease in a single day amid extra susceptible U.S. information,” ANZ Analysis mentioned in a Tuesday word.

    Oil futures slipped on Tuesday. U.S. crude shed 0.6% to $93.33 in step with barrel after settling 4.8% decrease within the earlier consultation, and Brent crude misplaced 0.75% to $99.28 in step with barrel. The global benchmark settled 3.79% decrease.

  • South Korea, Australia amongst 4 nations in quest of to host 2023 Asian Cup: AFC

    South Korea, Australia, Indonesia and Qatar have submitted ‘Expressions of Hobby’ to exchange China as hosts of subsequent 12 months’s Asian Cup, the Asian Soccer Confederation stated on Monday.

    The cut-off date for the 4 associations to publish their bid paperwork has been set for Aug. 31, and the AFC’s govt committee will announce the brand new host on October 17, it stated.

    China was once because of host the 24-team match, scheduled for June and July subsequent 12 months, however the nation’s efforts to practice a zero-COVID-19 coverage ended in it being moved.

    South Korea gained the inaugural Asian Cup in 1956 and retained the trophy as hosts 4 years later – the one time they staged the finals. The rustic has no longer staged a significant match since co-hosting the Global Cup with Japan in 2002.

    Australia, Asian Cup winners in 2015, already has a hectic 2023 deliberate as co-hosts of the Girls’s Global Cup with New Zealand. That match begins on July 20 subsequent 12 months.

    Soccer Australia leader govt James Johnson stated previous this month the governing frame had consulted with the AFC to believe transferring the Asian Cup to later within the calendar to keep away from a conflict with the Global Cup.

    Qatar will level the lads’s Global Cup this 12 months from November 21 to December 18. They have got hosted the Asian Cup two times, in 1988 and 2011, and gained the match in 2019.

    Indonesia have been one among 4 co-hosts of 2007 Asian Cup and exited within the team level – their very best end within the match.

    Japan’s Soccer Affiliation showed in Might that they had been informally approached about the potential of changing China as hosts however technical director Yasuharu Sorimachi instructed native media previous this month there was once little probability of it bidding.

  • South Korea shares lead features in Asia markets; New Zealand inflation at 32-year top

    South Korea shares led features in Asia-Pacific markets early on Monday as traders seemed forward to bulletins later within the week.

  • Asia-Pacific markets are combined forward of China industry knowledge; Financial institution of Korea raises charges

    SINGAPORE — Stocks within the Asia-Pacific had been combined on Wednesday forward of China industry knowledge and central financial institution selections within the area.

    Japan’s Nikkei 225 rose 0.33%, and the Topix index won 0.20%

    In South Korea, the Kospi complicated 0.38% and the Kosdaq used to be 0.62% upper.

    The S&P/ASX 200 in Australia used to be rather decrease.

    Hong Kong’s Hold Seng index won 0.32% in early industry.

    Tianqi Lithium plunged round 10% at its marketplace debut in Hong Kong from its be offering worth of 82 Hong Kong bucks ($10.45). It used to be closing at 73.90 Hong Kong bucks.

    Mainland China markets had been upper. The Shanghai Composite rose 0.2% and the Shenzhen Part used to be up 0.16%.

    MSCI’s broadest index of Asia-Pacific stocks out of doors Japan used to be 0.56% upper.

    Traders may also be taking a look forward to the U.S. inflation document for June.

    Sharp weak point in oil costs in July means that June would possibly mark a top [in inflation].

    Chinese language industry knowledge is due on Wednesday. A Reuters ballot predicts that exports will develop by means of 12%, whilst imports will build up by means of 3.9%.

    The Financial institution of Korea raised charges by means of 50 foundation issues for the primary time, bringing the speed to two.25%, Reuters reported. That is in step with analyst expectancies in a Reuters ballot. The Korean received stood at 1,306.27 in opposition to the buck.

    The Reserve Financial institution of New Zealand is about to extend charges by means of part some extent as smartly.

    Thailand’s inventory alternate is closed for a vacation Wednesday.

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    Primary indexes within the U.S. see-sawed right through the buying and selling day prior to final decrease.

    The Dow Jones Business Moderate dipped 192.51 issues or 0.62% to 30,981.33, whilst the S&P 500 dropped 0.92% to a few,818.80. The Nasdaq Composite slid 0.95% to near at 11,264.73.

    The U.S. will document shopper worth index knowledge later Wednesday, and markets predict sizzling inflation, which might stay the Fed firmly on its climbing trail.

    “Sharp weak point in oil costs in July means that June would possibly mark a top,” ANZ Analysis stated in a be aware Wednesday. That might imply probably the most dynamic section of Fed tightening may finish after the central financial institution raises charges on July 27.

    “Then again, our expectation is that underlying energy in core inflation and nonetheless deeply unfavorable actual coverage charges approach 50bps price rises will nonetheless be suitable after the summer season,” the be aware stated.

    Currencies and oil

    The U.S. buck index, which tracks the buck in opposition to a basket of its friends, used to be at 108.239 after in brief falling underneath 108.

    The Eastern yen modified fingers weakened to 137.18 in keeping with buck. The Australian buck used to be at $0.6751.

    The euro hit parity with the U.S. buck on Tuesday for the primary time in two decades, with the typical foreign money weakened by means of Europe’s power provide considerations and financial troubles, whilst the safe-haven buck has been supported by means of international expansion worries.

    The euro used to be closing at 1.0025.

    Oil futures declined in Asia industry. U.S. crude futures fell 0.48% to $95.38 in keeping with barrel, and Brent crude slipped 0.47% to $99.02 in keeping with barrel.

    Each benchmarks settled greater than 7% decrease within the earlier consultation.

    — CNBC’s Samantha Subin, Sarah Min, Sam Meredith, Elliot Smith and Carmen Reinicke contributed to this document.

  • Asia-Pacific markets fall in early industry after Wall Boulevard staged a comeback

    SINGAPORE — Asia-Pacific stocks fell on the open on Wednesday regardless of Wall Boulevard convalescing maximum of its losses via the shut.

    Japan’s Nikkei 225 fell 0.77% and the Topix index slipped 0.72%.

    In South Korea, the Kospi declined 0.52% and the Kosdaq shed 0.28%.

    The S&P/ASX 200 in Australia misplaced 0.35%.

    MSCI’s broadest index of Asia-Pacific stocks out of doors Japan used to be 0.16% decrease.

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    U.S. inventory indexes to begin with fell sharply on Tuesday stateside earlier than rallying within the afternoon. The Nasdaq Composite ended the consultation 1.75% upper at 11,322.24, whilst the S&P 500 used to be up 0.16% at 3,831.39,

    The Dow Jones Commercial Reasonable shed 129.44 issues, or 0.4%.

    In central financial institution information, Financial institution Negara Malaysia is predicted to free up its financial coverage remark as of late. Analysts polled via Reuters be expecting the financial institution to boost charges via 25 foundation issues.

    Currencies and oil

    The U.S. greenback index, which tracks the buck towards a basket of its friends, used to be remaining at 106.495, leaping from under 105.3 previous this week.

    The Jap yen traded at 135.52 in line with greenback, strengthening from greater than 136 towards the buck on Tuesday. The Australian greenback weakened to $0.6792 towards the more potent U.S. greenback.

    “The deteriorating international economic system is the principle weight on AUD,” Kristina Clifton, an economist at Commonwealth Financial institution of Australia wrote in a be aware Wednesday.

    In Asia’s morning industry, West Texas Intermediate crude used to be up 2.11% at $101.60. Brent crude rose 2.33% to $105.16 in line with barrel.

    The U.S. oil benchmark plunged up to 10%, breaking the $100 stage on Tuesday stateside earlier than settling 8.24% decrease at $99.50 at the again of recession fears.

    Global benchmark Brent crude settled 9.45%, or $10.73, decrease at $102.77 in line with barrel.

  • China’s Shenzhen shares upward push as information presentations manufacturing unit task grew in June; Asia shares slip

    SINGAPORE — Chinese language markets rose on Thursday as govt information confirmed manufacturing unit task grew in June, however maximum different Asia-Pacific indexes fell.

    The Shenzhen Part jumped greater than 2% previous within the consultation however gave up a few of the ones positive factors to upward push 1.573% to near at 12,896.2, and the Shanghai Composite complicated 1.10% to a few,398.62.

    The Cling Seng index in Hong Kong declined 0.57% within the ultimate hour of business, and the Cling Seng Tech index fell 1.46%. Stocks of synthetic intelligence instrument corporate SenseTime plunged up to 50.5% on Thursday after a six-month lock-up duration for a few of its stocks ended. The inventory used to be ultimate 47.79% decrease within the overdue afternoon.

    The Nikkei 225 in Japan dropped 1.54% to near at 26,393.04 whilst the Topix slipped 1.2% to1,870.82.

    In Australia, the S&P/ASX 200 fell 1.97% to six,568.1.

    South Korea’s Kospi declined 1.91% to two,332.64, whilst the Kosdaq used to be 2.22% decrease at 745.44.

    MSCI’s broadest index of Asia-Pacific stocks used to be down 1.14%.

    The hot button is that till the inflation information display a sustainable moderation, it stays dangerous to leap on softer financial information.

    In financial information, China’s authentic production Buying Managers’ Index for June used to be at 50.2, fairly less than the anticipated 50.5, consistent with a Reuters ballot.

    The 50-point mark separates expansion from contraction on a per thirty days foundation, and the index has been below 50 since March.

    South Korea’s manufacturing unit output grew mildly in Would possibly, govt information confirmed. Business manufacturing larger 0.1% from April’s determine. Carrier sector output grew 1.1% in Would possibly.

    Japan’s business manufacturing dropped 7.2% in Would possibly, consistent with govt information. That determine used to be a lot less than marketplace consensus and may have been suffering from lockdowns in China, Rob Carnell, ING’s regional head of analysis in Asia-Pacific, wrote in a Thursday notice.

    In company information, Toyota Motor overlooked its per thirty days manufacturing goal in Would possibly for the 3rd month in a row, Reuters reported. The corporate’s stocks have been down 1.32% on Thursday.

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    In a single day within the U.S., shares fluctuated on Wednesday after the foremost averages made a failed strive at a leap within the earlier consultation, and because the marketplace prepares to near out the worst first part of the 12 months since 1970.

    The Dow Jones Business Reasonable ended the consultation up 82.32 issues, or 0.27%, to 31,029.31, whilst the opposite benchmarks closed fairly decrease. The S&P 500 dipped 0.07% to a few,818.83, and the tech-heavy Nasdaq Composite edged down via 0.03% to 11,177.89.

    Charge hikes, recession fears and inflation issues have plagued the marketplace.

    ANZ Analysis in a Thursday notice mentioned markets were “wary and missing robust conviction” as central bankers say they’ll prioritize tackling inflation.

    “The hot button is that till the inflation information display a sustainable moderation, it stays dangerous to leap on softer financial information and claim that the height in central financial institution rates of interest for this cycle has been priced in,” the notice mentioned.

    Currencies and oil

  • Stocks within the Asia Pacific fall; Australia retail gross sales upward push

    SINGAPORE — Stocks within the Asia-Pacific fell on Wednesday after Wall Side road’s damaging efficiency on Tuesday. Traders can be taking a look ahead to Japan’s client self assurance knowledge unlock.

    Hong Kong’s Grasp Seng index declined about 1% in early industry, whilst the Grasp Seng Tech index dropped 1.44%.

    In South Korea, the Kospi dropped 1.55%, whilst the Kosdaq fell 1.68%.

    South Korea’s client sentiment index fell, status at 96.4 for June 2022, down 6.2 issues from Would possibly’s print, in step with Financial institution of Korea’s survey.

    The Nikkei 225 in Japan was once down 0.96%, and the Topix slipped 0.63%. Retail gross sales in Japan rose 3.6% in Would possibly in comparison to a 12 months in the past, a 3rd consecutive month of expansion, govt knowledge confirmed.

    The Shanghai Composite slipped fractionally, and the Shenzhen Element was once additionally relatively decrease.

    Australia’s S&P/ASX 200 was once 1.2% decrease. Retail gross sales in Australia rose 0.9% in Would possibly in comparison to April, the similar build up in April from March.

    MSCI’s broadest index of Asia-Pacific stocks declined round 1%.

    U.S. shares gave up early good points to say no in a single day following disappointing financial knowledge. The shopper self assurance index fell to 98.7 in June from 103.2 in Would possibly, in step with The Convention Board.

    The Dow Jones Business Reasonable dropped 491.27 issues, or 1.56%, to 30,946.99. The S&P 500 slipped 2.01% to a few,821.55, and the Nasdaq Composite was once the laggard, declined 3% to 11,181.54.

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    The U.S. buck index, which tracks the dollar in opposition to a basket of its friends, was once at 104.417, bouncing again from under 104 previous this week.

    The Eastern yen weakened previous the 136 stage in opposition to the buck once more, after strengthening and maintaining secure previously few classes. It ultimate modified fingers at 136.02. The Australian buck was once at $0.6905.

    Oil futures had been little modified in Asia’s morning industry. U.S. crude futures had been fractionally upper at $111.80 in step with barrel, whilst Brent crude misplaced 0.11% to $117.85 in step with barrel.

    — CNBC’s Evelyn Cheng contributed to this document.

  • Asia-Pacific shares are combined as traders weigh financial considerations

    SINGAPORE — Stocks within the Asia-Pacific area have been combined on Tuesday as traders weigh financial considerations.

    Japan’s Nikkei 225 was once up 0.43%, whilst the Topix rose 0.61%.

    In South Korea, the Kospi climbed 0.4%, however the Kosdaq declined 0.15%.

    Australia’s S&P/ASX 200 was once 0.24% upper.

    Mainland Chinese language markets fell. The Shanghai Composite misplaced 0.26% and the Shenzhen Element inched down 0.295%.

    Hong Kong’s Dangle Seng index fell 0.71% in early business, whilst the Dangle Seng Tech index slipped 1.51%.

    There’s a transparent loss of conviction by way of traders with gentle buying and selling volumes favoring the perception of an exhausted marketplace.

    Rodrigo Catril

    Foreign money strategist, Nationwide Australia Financial institution

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    In a single day within the U.S., the most important indexes fell following a big rebound on Friday.

    The Dow Jones Commercial Moderate slipped 62.42 issues, or 0.2%, to 31,438.26. The S&P 500 fell 0.3% to a few,900.11, and the Nasdaq Composite dropped 0.7%, falling to 11,524.55.

    “There’s a transparent loss of conviction by way of traders with gentle buying and selling volumes favoring the perception of an exhausted marketplace, with giant declines set to be recorded this quarter, however the oversized beneficial properties logged final week,” Rodrigo Catril, a foreign money strategist at Nationwide Australia Financial institution, wrote in a word Tuesday.

    Currencies and oil