![]() On a month on month basis, the CGPI climbed 0.2%, slightly lower than Reuters expectations of a 0.3% increase. This is also the third straight month that the corporate inflation rate has increased. Japan's corporate goods price index rose 0.8% in March from a year ago, accelerating from the revised 0.7% increase in February and in line with expectations from economists polled by Reuters. Lim Hui Jie Japan's corporate inflation climbs to 0.8% in March, in line with expectations Reuters reported the rise was fueled by central bank purchases and geopolitical tensions, with China's central bank notably adding 160,000 troy ounces of gold to its reserves in March. Gold prices have set new highs for three straight days, according to data from LSEG. Spot gold prices hit fresh highs, reaching a record $2,352.57 per ounce on Tuesday and an intraday high of $2,365.09. Lim Hui Jie Gold prices hits fresh record Tuesday Separately, Microsoft and NetEase have also entered into an agreement to explore bringing new NetEase titles to Xbox consoles and other platforms. The press release states that the renewed publishing agreement will encompass games Chinese players had access to under the previous agreement, including World of Warcraft and Overwatch. The move comes after the partnership between the two companies was terminated in 2023 by Blizzard, citing disagreement over intellectual property control. Lim Hui Jie NetEase and Microsoft to bring games back to ChinaĬhinese internet technology giant NetEase has teamed up with Microsoft to bring back games by Blizzard Entertainment to the world's second-largest economy. However, the bank also expressed confidence that despite near-term price pressures, holding rates at a restrictive level for a sustained period will return inflation to its target range this year. ![]() The Reserve Bank of New Zealand said that "a restrictive monetary policy stance remains necessary to further reduce capacity pressures and inflation," noting that current consumer price inflation remains above its 1% to 3% target range. New Zealand's central bank has held its benchmark interest rate steady at 5.5%, in line with expectations from economists polled by Reuters. Lim Hui Jie New Zealand holds rates at 5.5%, in line with expectations However, Fitch affirmed its A+ rating on China, citing supporting factors including its large and diversified economy, solid GDP growth prospects relative to peers and an integral role in global goods trade. The agency said in its report that the country faces more uncertain economic prospects and a transition away from property reliant growth.įurthermore, it noted that wide fiscal deficits and rising government debt in recent years have eroded fiscal buffers, and that debt could still increase as fiscal policy increasingly plays an important role in supporting growth in the coming years. Ratings agency Fitch revised its outlook on China to "negative" from "stable," citing "increasing risks to China's public finance outlook." Lim Hui Jie Fitch downgrades outlook on China to 'negative', affirms A+ rating In a filing to the Japan Exchange Group, the company said the superstore business has underperformed for many years, due to the competitive landscape for Japanese supermarkets, and its focus on growing the convenience store business.ĭespite recognizing that the superstore business provides a competitive advantage to the group, Seven & i said that the long-term underperformance is not tenable.Īs such, the split will allow the superstore business the autonomy "to pursue re-growth, and to have independence financially in strategic decision making." Japanese retailer Seven & i Holdings announced it is considering splitting its convenience store and superstore businesses, with the aim of listing the latter. ![]() Japan's Seven & i Holdings considering sale of superstore business CNBC's Hakyung Kim and Brian Evans contributed to this report. On the other hand, the S&P 500 notched a gain of 0.14%, while the Nasdaq Composite added 0.32%. Overnight in the U.S., the three major indexes ended mixed ahead of the CPI report, with the Dow Jones Industrial Average closing just below the flatline. In Australia, the S&P/ASX 200 marked a third straight day of gains, climbing 0.31% and ending at 7,848.5. Trump says he would testify in upcoming hush money trial
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