By Leika Kihara
TOKYO (Reuters) - Asian factory activity expanded in May as manufacturers benefited from broadening global demand, private surveys showed on Monday, adding to hopes for sustained economic recovery in the region where China is showing early signs of rebound.
Manufacturing activity expanded in Japan for the first time in a year and in South Korea at the fastest pace in two years, due in part to hints of a pick-up in the... (continue reading...)
By Arsheeya Bajwa
TAIPEI (Reuters) - Advanced Micro Devices unveiled its latest artificial intelligence processors on Monday and detailed its plan to develop AI chips over the next two years in a bid to challenge industry leader Nvidia.
At the Computex technology trade show in Taipei, AMD CEO Lisa Su introduced the MI325X accelerator, which is set to be made available in the fourth quarter of 2024.
The race to develop... (continue reading...)
BEIJING (Reuters) - China's manufacturing activity in May grew at the fastest pace in about two years with strong production and new orders, a private sector survey showed on Monday, indicating the sector remains robust amid supportive industrial policies.
The Caixin/S&P Global manufacturing PMI rose to 51.7 in May from 51.4 the previous month, marking the fastest pace since June 2022 and beating analysts' forecasts of 51.5. The 50-point mark separates... (continue reading...)
By Ankur Banerjee
SINGAPORE (Reuters) - The currency market started the week cautiously, with the dollar slightly lower on Monday after data last week showed U.S inflation had stabilised in April, keeping the door open for the Federal Reserve to cut interest rates later in the year.
The dollar posted its first monthly decline of the year in May, weighed down by shifting expectations on when the U.S. central bank will cut rates and by how... (continue reading...)
SYDNEY (Reuters) - Australia's independent wage-setting body on Monday raised the national minimum wage by 3.75%, largely in line with inflation, as families tackle soaring living costs.
The minimum rate will rise to A$24.10 ($16.05) per hour from July 1, resulting in an extra A$33 per week for about a fifth of the Australian workforce or about 2.6 million employees.
In its annual review, the Fair Work Commission said cost-of-living... (continue reading...)
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