The Asia Eight

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

March 24, 2021

1 TOP STORY: Asia trade, oil prices hit as box ship blocks Suez

2 ATF TV: Singapore is witnessing a fintech transformation

3 THE ATF BIG PICTURE: Chip shortage brings factory chaos

4 ASIA MARKETS: Canal impact on oil, lockdowns in focus

5 NEWS: US lawmakers take aim at Chinese solar panel firm

6 NEWS: Australia-China row extends to refinery capacity

7 COMMENT: Are we seeing the beginnings of a slowdown?

8 NEWS: US imposes $50m penalty on Indian drugs maker

01 Top Story

Asian trade, oil hit by Suez container ship blockage

Egyptian officials say it could take days to get the 224,000-tonne vessel refloated, depending on how much cargo has to be lifted off the ship; already at least 100 other vessels are waiting at both ends of the canal

02 ATF TV

Singapore is transformed again, as global fintech hub

Rohini Malkani, Global Sovereign Ratings analyst at DBRS Morningstar, tracks Singapore’s economic evolution from trading hub to global fintech leader

03 ATF Big Picture

Hyundai factory hit by semiconductor shortage

South Korean car manufacturer says it is slowing down output of its weaker-selling models such as the Sonata to save semiconductors 

04 Asia Markets

Oil spikes on Suez blockage; yields steady after Powell comments but eyes on auction; Hong Kong pressured by vaccine halt

05 Solar panel maker probe

Republican Senator Marco Rubio and Democratic Senator Jeff Merkley are pressing a solar energy lobbying group to detail use of solar products linked to China’s Xinjiang region, with a focus on polysilicon production

06 Oz spat oil refinery risk

Australia has left itself exposed to supply risks that could have been averted with better planning; news that two and possibly three of the country's oil refineries will close in the near future means it may have just one refinery and will end up dependent on imports

07 Comment

Vikram Murarka, chief currency strategist at Kshitij Consultancy Services, highlights a few significant facts that investors should consider

08 US fines India drugs firm

Department of Justice says employees removed computers, documents and other materials and deleted spreadsheets with evidence of non-compliant practices