Asia Links

Tuesday, December 6

Good morning, and welcome to Tuesday’s Asia Links

Overnight
S&P500: -1.79%, FTSE100: +0.15%, HSI:+4.51%

Beijing seeks positive spin on covid easing (WSJ, Nikkei Asia)
Covid chaos at Foxconn iPhone plant causes 29% revenue fall (FT, CNBC)

RMB hits 12-week high on reopening hopes (FT)

Jiang Zemin cremated in Beijing, top leaders pay their respects (China Daily, SCMP, AP)
Tencent suspends gaming to honor late leader Jiang Zemin (Nikkei Asia)

China report says China offers the world an example on human rights (China Daily)

Hidden exposure to currency derivative positions poses risks to global financial system, BIS says (Bloomberg)
Global foreign exchange markets turn over about $7.5 trillion a day (BIS)
A link to the BIS Quarterly Review focusing on FX and the OTC derivatives market

Sweeping victory likely for BJP in Gujurat state elections (Scroll)

Ambitious plans to build Indonesia a brand-new capital are falling apart (Bloomberg)

Chinese hackers stole millions worth of covid relief money, Secret Service says (Reuters)

North Korea fires over 130 artillery rounds as warning after South Korea-US drills (Reuters, AP)
Canada to send more warships through Taiwan Strait in signal to China (FT)
Japan aims to boost defence spending by 50% over next five years (AP)

New Malaysia PM says ‘serious’ breaches in $185bn worth of projects under previous government (Straits Times)

0.82% of Korea’s population own 58.5% of household assets (Chosun Ilbo)

NZ plans law to make Google, Facebook, Asia Links pay for news (Reuters)

Australia PM Albanese tests positive for covid, working from home (Reuters)

Croatia push Japan out of World Cup on penalties (BBC)
Brazil beat South Korea 4-1 (Bloomberg)

Scientists cross-breed new wheat strain that can withstand extreme heat and drought (Guardian)

China’s Gen-Z is entering the workforce. Employers are terrified. (Sixth Tone)

Papua New Guinea population may be double what the governemnt thought (FT)

Museum finds remains of the last Tasmanian Tiger in a cupboard (BBC, Guardian)