The Asia Eight

Daily must-reads from the world’s most dynamic region

November 12, 2020

  • India's regulators renew their gaze over operations of Google
  • Asian pharmaceutical firms join rush to develop Covid vaccine
  • Beijing-encouraged sacking of HK lawmakers ignites ire of US
  • New energy vehicles sales in China double as economy recovers

01 Google under Indian scrutiny again

While Google fights an Indian anti-monopoly probe alleging unfair trade practices to promote GPay, the tech giant is befriending India’s richest man – the powerful entrepreneur Mukesh Ambani.

02 Asia Markets

Stocks softened as optimism over a vaccine that could end the coronavirus pandemic gave way to concern as more infections spread across the US and Europe. Investors were also monitoring the US where President Trump is still to concede defeat in last week’s presidential election.  

03 Softbank doubts linger

Although Softbank posted a $6.1bn quarterly profit in its latest earnings announcement, doubts remain over its operations following a slew of dud and controversial investments, Asia Times Financial TV reports.

04 Asia pharma Covid bid

Pharmaceutical companies in Japan and China take up the mantle to produce and distribute coronavirus vaccines and treatments days after Pfizer’s candidate drug was hailed as a breakthrough.

05 US anger at HK bans

Washington and US senators lined up to renew their attacks on China after Beijing sanctioned the disqualification of four pro-democracy lawmakers in Hong Kong, a move that has sparked condemnation across the globe.

06 Trade of the Day

"The well capitalised Big Three Chinese airlines are set to grab market share as many of their global competitors struggle to survive. We prefer prefer Air China (high international exposure) followed by China Southern (cargo exposure)."

HSBC Global Research

07 China steps on NEV gas

Electric car sales in China more than doubled last month compared with a year earlier. Analysts believe the momentum will continue in the remaining two months of 2020 in a country that seeks to make all new vehicles sold in 2035 “eco-friendly” 

08 Comment

"We have always opposed the US' generalisation of the concept of national security, abuse of national power, and unreasonable suppression of foreign companies."

China's Ministry of Foreign Affairs statement after Bytedance launched last-minute attempt to avert US sanctions on TikTok