Good morning, and welcome to Thursday’s Asia Links
Overnight
S&P500: +3.09, FTSE100: +0.81%, HSI: +2.16%
Guangzhou, Chongqing ease restrictions despite worsening covid outbreak (FT, SCMP, Reuters, Caixin)
China’s high youth unemployment stokes student covid protests (FT)
Chinese police are knocking on protesters’ doors, searching cellphones (Washington Post)
Yuan rises 1.1% against dollar as reopening bets boost sentiment (Caixin)
China factory activity shrinks more than expected (BBC, Reuters)
Former Chinese president Jiang Zemin dies aged 96 (FT, BBC, Guardian, SCMP, Bloomberg, AP)
People’s Daily changes headline banner from red to black
Jiang Zemin: the president who took China from Tiananmen pariah to rising power (SCMP, Washington Post)
India GDP growth slows to 6.3% amid stubborn inflation (Nikkei Asia, Scroll)
Why the Chinese dream matters to global economy (People’s Daily)
China media seems to be talking about the ‘Chinese Dream’ again after a years-long hiatus
Hong Kong’s exchange fund spent $12.8bn to support HK$ in last quarter (Caixin)
HSBC to close a quarter of UK branches (FT, SCMP)
Chinese companies set up in Singapore to hedge against geopolitical risk (FT)
South Korea scrambles jets after Chinese and Russian warplanes enter air defence zone (Guardian, SCMP, AP)
NATO chief warns against repeating Russia errors with China (Bloomberg, FT)
Still no deal with South Korea’s striking truckers (Reuters)
Japan court upholds ban on same-sex marriage, campaingers say ruling is a step forward (BBC, Guardian, Reuters)
Saudi Arabia to host China-Arab summit during Xi visit, sources say (Reuters)
Technology powers China’s Gulf strategy forward (East Asia Forum)
Australian parliament censures ex-PM over his mulitiple secret ministerial self-appointments (Reuters)
Remittances grow 5% in 2022 to $626 billion despite global headwinds (World Bank)
Asia’s healthcare future revolves around patient-centric ecosystems (McKinsey)
Biden’s Inflation Reduction Act makes green hydrogen profitable at scale, Goldman says (CNBC)
The BIS’ mBridge CBDC pilot is a wakeup call for the US (Lawfare)
Big balance-of-payment imbalances are back, with big geopolitical implications (CFR)
Big numbers: Notional value of OTC derivatives rose to $632 trillion at end-June (BIS)
1MDB wants to get back $3.5bn from fugitive Jho Low’s siblings (Straits Times)
Back problems are on the rise for phone-addicted young people (Chosun Ilbo)
Filippino referee admits to cheating in controversial 2000 Manny Pacquiao boxing win against Australian Nadal Hussein (Inquirer)
Indonesia set to auction development rights for a chain of over 100 islands (Guardian)