Reuters

BEIJING/SINGAPORE (Reuters) - Chinese smartphone maker Xiaomi has become the country's eighth-largest electric vehicle upstart after selling more than 7,000 units of its first model, the SU7 sedan, in April, according to industry data.

Xiaomi's strong entry into China's crowded EV market is set to further upend the world's largest auto market, where companies have been locked in a fierce price war amid weakening demand. Xiaomi is already a household... (continue reading...)

By Wayne Cole

SYDNEY (Reuters) - Australian wage growth unexpectedly slowed from 15-year highs in the first quarter, data showed on Wednesday, likely marking the peak for this cycle and another sign the labour market was finally starting to loosen.

Crucially, the pullback should soothe long-running concerns about a potential price-wage spiral and lessen pressure for a further rate rise from the Reserve Bank of Australia (RBA).

By Ankur Banerjee

SINGAPORE (Reuters) - Asian stocks rose on Wednesday while the dollar drifted lower as traders weighed mixed U.S. producer price data and braced for the crucial consumer price report later in the day that is likely to influence the Federal Reserve's near-term policy path.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.38%, scaling a fresh 15-month high earlier in the session. Japan's Nikkei gained... (continue reading...)

By Sam Nussey

TOKYO (Reuters) - Shares in Sony Group jumped 12% in early Tokyo trading on Wednesday after the company pledged to boost shareholder returns and forecast higher annual profit with a boost from its image sensors business.

The tech and entertainment conglomerate said it would spend up to 250 billion yen ($1.6 billion) on a share buyback and gradually increase dividends with a target of a 40% total payout ratio by the... (continue reading...)

SHANGHAI/SINGAPORE (Reuters) - China's central bank left a key policy rate unchanged when rolling over maturing medium-term lending facility (MLF) loans on Wednesday, in line with market expectations.

WHY IT'S IMPORTANT

The steady MLF rate shows the central bank's focus on keeping currency stability, analysts say, even as an unexpected credit contraction in April added to the case for more policy stimulus to prop up the world's... (continue reading...)