Good morning, and welcome to Thursday’s Asia Links.
Overnight
S&P500: -0.61%, FTSE100: -0.09%, HSI: +0.39%
Fed hikes rates by another 0.5%, signals more in 2023 (BBC, FT, WSJ, Bloomberg)
ADB lowers ‘22 growth forecast for developing Asia from 4.3% to 4.2% amid global gloom (ADB)
Covid wave batters China’s overstretched hospitals (BBC)
China stops counting asymptomatic cases as covid crisis deepens (FT, AP)
China’s message to people shifts from war to self-care (Reuters)
‘Panic buying’ in China as covid curbs are eased (BBC)
China covid spike not due to lifting of restrictions, WHO director says (SCMP)
China’s zero-covid retreat sparks wealth management product selloff (FT)
China financial futures exchange adjusts rules for new option product (Reuters)
US adds Chinese chipmaker Yangtze Memory Technologies to trade blacklist (FT, Nikkei Asia)
Senate bill would bar China’s Huawei from US finance system (Caixin)
ASML chief pushes back on chip manufacturing equipment export restrictions to China (Caixin)
Binance founder says bumpy road ahead after $1 billion pulled in a day (Guardian, CNBC)
Hong Kong watchdog warns of risks of crypto platforms (BBC)
EU promises 10bn Euro package for Asean, but leaders seek trade pact (SCMP, AP, Straits Times)
India wholesale inflation eases to 21-month low of 5.85% in November (Scroll)
Xi Jinping doubles down on his Putin bet (WSJ)
Vietnam seals $15.5 billion deal with G7 to exit coal (Bloomberg, AP)
Under pressure on climate policies, HSBC to stop funding new oil, gas projects (SCMP, Bloomberg)
Swapping debt for climate or nature pledges can help fund resilience (IMF)
China diplomats leave UK over October protester attack (BBC, FT)
Australia signs security deal with Vanuatu (AP)
Vietnam is accelerating dredging and landfill at its South China Sea outposts — CSIS (Reuters)
Philippines concerned over Chinese vessels ‘swarming’ in South China Sea — defence chief (Reuters, Inquirer)
China makes breakthrough on using AI for drug development (SCMP)
Goldman weighs bonus cut of at least 40% at investment bank (FT)
RBA governor Philip Lowe on improving the payments ecosystem (BIS)
Ranking the top 25 countries receiving US immigration visas: China 2, Philippines4, India 7. (Visual Capitalist)
Thai police find high-speed data cables serving call scammers in Cambodia (Bangkok Post)
Twitter suspends account that tracked Musk’s jet (BBC, Guardian)