The Nasdaq, along with the S&P 500, closed at a record high on Dec. 2, boosted by tech-related shares following the market's strong November gains.
Markets

S&P 500, Nasdaq post record highs as tech-related shares gain

Investors await this week's economic data including monthly jobs report

3 December 2024
APA Hotel & Resort Namba Ekimae Toweris the group's second-largest hotel overall. (Photo by Katsuyuki Tanimoto)
Travel & Leisure

Japan's APA opens new Osaka flagship hotel as Marriott, IHG move in

Hospitality group eyes surging tourist demand for midtier accommodations

3 December 2024
General Motors' headquarters in Detroit, Michigan. The automaker said it will sell its stake in a joint-venture battery plant to partner LG Energy Solution.
Automobiles

GM to sell its stake in Michigan battery plant to LG Energy Solution

American automaker to recoup $1bn investment in Lansing facility

3 December 2024
A Vietnamese grower for Hokken holds some of the shiitake mushrooms now being grown in the country. (Hokken)
Agriculture

Japanese shiitake mushroom producer eyes Vietnam market

Hokken develops fungal strains that thrive on local wood

3 December 2024
The amount of outstanding debt on Indonesia's online lending platforms soared from 13.16 trillion rupiah ($828 million) in 2019 to over 66 trillion rupiah at the end of September. (Illustration by Hiroko Aida)
ASEAN Money

Millions of Indonesians fall into digital debt trap as spending power wanes

Many middle-income earners caught out by stratospheric interest rates

3 December 2024
GPIF has been dubbed the "whale" for its outsize market presence, with more than 240 trillion yen in assets under management as of March 31. (Photo by Akira Inujima)
Finance

Japan eyes higher return target of 1.9% for GPIF pension fund

Analysts say proposal could lead to more Japanese stocks in portfolio

3 December 2024
BYD's monthly sales topped 500,000 vehicles in October. (Photo by Shizuka Tanabe)
Electric cars in China

China's BYD marks 30th year by chasing 4m car milestone

EV maker dominates home market but only sells about 10% of its vehicles abroad

3 December 2024
The European Union looks to protect domestic manufacturers of equipment for producing "green" hydrogen.
International relations

EU shuts out Chinese hydrogen equipment from subsidy program

Effective ban seeks to shield industry after struggles in solar and wind

3 December 2024
Saudi Arabia is seeking to diversify its oil-dependent economy under the Saudi Vision 2030 initiative.
Finance

SBI to launch Saudi Arabia's first Japanese equity fund

Japan financial group taps Middle Eastern appetite for overseas assets

3 December 2024
Workers from Malaysia enjoy halal dishes at the cafeteria in Yokowo's plant in Tomioka, a city to the north of Tokyo. (Photo by Nobuyuki Okada)
Japan immigration

Halal cafeteria is among Japan factory's perks for Muslim workers

Yokowo attracts best employees from Malaysia by targeting common stress point

3 December 2024
Stellantis and Samsung SDI plan to build two electric vehicle lithium-ion battery plants in Indiana.
Electric vehicles

U.S. offers $7.54bn loan to Stellantis, Samsung SDI battery venture

Companies plan 2 electric vehicle lithium-ion battery plants in Indiana

3 December 2024
The first location of Capital Lat Kar opened in Mandalay on Nov. 30. (Photo by Nikkei)
Retail

Myanmar's CDSG launches wholesale club to tap urban demand

Opening in Mandalay, convenience store operator eyes northward expansion

3 December 2024
Kobayashi Pharmaceutical's red yeast supplement has been linked to dozens of deaths. (Photo by Koji Uema)
Pharmaceuticals

Oasis seeks shareholder meeting at Kobayashi Pharma amid yeast scandal

Activist investor wants independent directors and new investigator at Japanese drugmaker

3 December 2024
Daiwa Securities Group is making a broader play for growth in Southeast Asia. (Photo by Ken Kobayashi)
Interview

Daiwa Securities targets rich Japanese expats with new Thailand office: CEO

Japanese group also aims to cater to more high-net-worth Chinese clients in Hong Kong

3 December 2024
 Intel CEO Pat Gelsinger delivers a speech in Taipei on June 4, 2024.
Electronics

Intel CEO Pat Gelsinger retires from struggling chipmaker

Shares of the company have lost more than half their value this year

3 December 2024
The first launch from the Hainan spaceport used China's newly developed Long March 12 midsize rocket. (Taken from the operator's social media page)
Aerospace & Defense Industries

China's first commercial spaceport opens with rocket launch

Hub capable of handling craft from more than 10 domestic space companies

3 December 2024
U.S. Commerce Secretary Gina Raimondo. The restrictions targeting China are aimed at slowing its technological advances.
US-China tensions

U.S. expands controls on China chip industry, adds 140 firms to Entity List

Biden administration implements export rules in final push to curb Chinese tech

2 December 2024
Geo Holdings aims to have more stores in untapped U.S. markets such as Texas. 
Retail

Japan secondhand stores speed up U.S. and Asia expansion

Geo, Bookoff aim to capitalize on their experience of accurate pricing

2 December 2024
A woman standing by her flooded house after super typhoon Man-yi hit Quezon town, Nueva Ecija, Philippines, on Nov. 18.
Economy

Philippines downgrades 2024 GDP growth forecast to 6%-6.5%

Country now expects 6%-8% growth in 2025 as Trump uncertainty looms

2 December 2024
Pedestrians walk past the logo of property developer Shimao Group in Shanghai in January 2022.
China debt crunch

Hong Kong court dismisses petition to liquidate China's Shimao Group

About 79% of developer's creditors support proposed restructuring

2 December 2024
Men carry ducks as they wade through floodwaters in Setiu, Malaysia, on Nov. 29.
Natural disasters

Malaysia suffers more than 380 sq. km of paddy damage from floods

Farmers reeling in state of Kedah, which grows about half of the nation's rice

2 December 2024
Mitsubishi Heavy Industries is rapidly expanding its defense business, including increased production of missiles for the Japan Self-Defense Forces. (Photo from the Ground Self-Defense Force website)
Aerospace & Defense Industries

South Korea and Japan arms industries grow nearly as fast as Russia's

SIPRI study credits nearly 40% increase to bigger defense budgets and exports

2 December 2024
Passengers wait for a local bus in Seoul on Dec. 2. (Ahn Seong-bok)
Immigration

South Korea labor ministry puts brakes on plan for foreign bus drivers

Yoon administration has pledged to make foreign nationals a bigger part of workforce

2 December 2024
The 350-kilometer-an-hour train would take 5.5 hours from Hanoi to Ho Chi Minh City. It has some advantages over air travel as it connects major cities in Vietnam. (Nikkei montage)
Transportation

Vietnam OKs $67bn bullet train for 5-hour trip north to south

ASEAN factory hub studies Japan, China for national rail dream 18 years in the making

2 December 2024
Super typhoon Man-Yi flooded farmland in Quezon, Nueva Ecija province, the Philippines, on Nov. 18.
Economy

Philippines' Q4 growth to be dampened by typhoons, official says

Agricultural damage weighs down ability to meet full-year target of 6-7%

2 December 2024
China is supplying Japan with affordable seafood that may have been processed by involuntary Uyghur workers. (Source photo on left is from a Douyin video posted under the Haiyangshijie account name; photo on right is by Kento Awashima)
Supply Chain

Japan and the Uyghur fish connection

Factories in China involved in supplying cheap precooked fish online

2 December 2024
Chief Executive Officer of Stellantis Carlos Tavares speaks at the Paris Automotive Summit during the 2024 Paris Auto Show on Oct. 15.
Automobiles

Stellantis CEO Carlos Tavares abruptly quits as U.S. Jeep, Ram sales falter

Move comes after profit warning, shares dropping around 40% this year

2 December 2024
Adani Green Energy shares rebounded toward the end of last week on rumors that some investors reassured their investment in the company, but remains down 6.3% from their trading level before the indictment as of Friday. (Nikkei montage/Source photo by Reuters)
Trading Asia

Adani crisis sequel makes investors in Indian companies think twice

Stock market hangover from indictment of Asia's second-richest man likely to linger

2 December 2024
People drink red wine at a bar in Shanghai, China.
Opinion

China's young, female and educated lead cultural shift on booze

Changes in drinking habits offer opportunities for global beverage brands

2 December 2024
DMM Bitcoin has struggled since the fraud incident in May. (Photo by Takanobu Aimatsu)
Cryptocurrencies

Japan crypto exchange DMM Bitcoin set for liquidation

SBI Group to acquire the assets after $320m fraud curtailed DMM's services

2 December 2024