The Asia Eight

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

March 03, 2021

1 TOP STORY: TSMC joins chip makers in surge to US

2 ATF TV: The ramifications of south China's GBA

3 ASIA MARKETS: HSI, CSI300 and Nikkei climb

4 NEWS: India proving a vaccine diplomacy winner

5 NEWS: Ant plunged in new battle – with its staff

6 NEWS: Australia surprise with strong GDP data

7 NEWS: $20bn Wuhan chip fiasco brought to end

8 ATF BIG PICTURE: Baidu's electronic car ambitions

01 Top Story TSMC joins surge of chip makers to US

TSMC gets green light for cutting-edge $12-billion plant in Arizona, while Samsung Electronics is considering four sites for a $17-billion facility; these projects will help the Asian tech giants and the US to keep pace with boom in global demand for computer chips

02 ATF TV GBA promise

Priscilla Dell’Orto, partner at Bain & Co, looks at the ramifications of the Greater Bay Area initiative in southern China

03 Asia Markets

Tokyo's Nikkei 225 rises 0.5% at 29,559.10, Hong Kong’s Hang Seng climbs 2.7% to 29,880.42 and China’s CSI300 jumps 2% to 3,576.90

04 Indian vaccine success

The world’s pharmacy hub is doling out millions of doses of Covid vaccines to friendly and once-estranged countries to spread goodwill and win ties around the world

05 Ant woes compounded

Workers upset that pulled IPO won’t make them their promised billions are being helped with short-term money troubles; Beijing reportedly angry at lack of customer data transfer 

06 Oz recovery surprise

Annual output shrinks 1.1%, underscoring havoc wreaked by the coronavirus pandemic and suggesting policy support will still be needed to maintain economic recovery

07 Wuhan chip plan halted

Wuhan Hongxin Semiconductor Manufacturing (HSMC), which had promised to deliver China’s first 7-nanometre (nm) chips, has decided to dismiss all employees as hopes for a resumption of business evaporated

08 ATF Big Picture

Jidu Auto, based in Shanghai, lists its business scope as new energy vehicle and automotive components manufacturing, as well as related technology and sales