Good morning, and welcome to Tuesday’s Asia LInks
China’s economic activity plummets as covid hits growth (FT, WSJ, Reuters)
US stocks fall as weak China data compound data concerns (FT)
China unemployment rate near pandemic peak, urban unemployment at 6.1% (Caixin, BBC)
China’s lockdowns are squeezing factories far and wide (Bloomberg)
China April property sales post steepest drop since 2006 (Reuters)
Chinese developers cut new-project spending by 2.7% (Caixin)
But Cabinet official says slowdown is temporary and the economy is reviving as lockdowns ease (People’s Daily, AP)
JPMorgan upgrades Chinese tech stocks recently deemed ‘uninvestable’ (FT, Bloomberg)
New Delhi suffers at 49C as heatwave sweeps India (BBC)
Global wheat prices jump 6% after India export ban (FT, BBC)
Japan companies exit China, Southeast Asia in bid to reshore production (SCMP)
Ant Group completes China Tech sector’s first ESG-linked loan deal with BNP Paribas (Bloomberg, Caixin)
Nomura prepares to launch crypto subsidiary (FT)
Cosco plants its flag in South America with $3 billion Peruvian port (Nikkei Asia)
Sri Lanka down to last day of petrol, PM tells crisis hit nation (Reuters)
Without an IMF bailout, Sri Lanka faces ‘collapse beyond redemption’ (SCMP)
Sri Lanka to privatize airline to raise funds (AP)
India court limits Muslim gatherings at mosque after Hindu idols found, lawyer says (Reuters)
California church shooter who killed one and wounded six was ‘Chinese immigrant who hated Taiwanese’ (SCMP, AP)
North Korea faces covid catastrophe (Chosun Ilbo)
Pakistani separatists turn their sights on China (Lowy Institute)
Wonkery: Studying and implementing Xi Jinping Thought on Diplomacy in a deep-going way and opening up new horizons in China’s external work (People’s Daily)
Thailand beach made famous in “The Beach” reopens after four years (Guardian)
The economist Axel Leijonhufvud died last week. Here’s his classic Life among the Econ (h/t Gillian Tett in the FT)
And finally: Villagers and officials in Guangxi describe book of Xi quotes as ‘vivid’, ‘easy to carry’ (SCMP)