The Asia Eight

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

December 23, 2020

1 TOP STORY: Tech giants abandon bank shopping

2 ATF BIG PICTURE: APAC mergers surge in 2020

3 ATF TV: Covid's long-term economic impact

4 ASIA MARKETS: Nikkei, HSI, CSI300 climb

5 NEWS: Coal ban to blame for China blackouts?

6 NEWS: Digital yen urged by Japan ruling party

7 NEWS: Rubio calls for tighter SMIC sanctions

8 COMMENT: Asia reacts to Trump bill veto threat

01 Top Story Ant, Tencent drop bank deposit search

Leading fintech companies remove app features that allow users to shop around for bank deposits that offer high rates, amid concern from regulators that these services are a risk to financial stability, and 'exploit' the government's deposit insurance fund

02 The ATF Big Picture

03 ATF TV Covid's long-term economic impact

AIA CIO Mark Konyn speaks to ATF TV about the prospects for the global economy in a post-Covid world.

04 Asia Markets

Nikkei 225 climbs 0.3% to 26,524.79; Hang Seng Index rises 0.9% to 26,343.10; CSI300 adds 0.8% to 3,382.32.

05 Oz coal ban puzzle

Australian media gloats over Beijing's apparent missteps in banning fuel for power plants but doubt remains over Canberra's importance to maintaining reliable electricity supply

06 Tokyo mulls e-yen

Ruling Liberal Democratic Party lawmakers urge the country's central bank to accelerate rollout and involve the private sector as China steps up the pace of 'digital yuan' project

07 Rubio targets SMIC

US Senator Marco Rubio has urged the Trump administration to close loopholes that he says will allow China’s biggest chipmaker SMIC to evade the latest crackdown

08 Comment

"Asia's first reaction appears to be that President Trump is bluffing, or that even if Trump vetoes the fiscal stimulus, Congress will act quickly with the necessary votes" to override his veto.

OANDA's Jeffrey Halley after outgoing US President Trump threatens to scupper stimulus agreement