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TOKYO: Toyota Motor Corp has raised its annual operating profit forecast by 4.2% on favourable currency rates and better-than-expected vehicle sales, but added that the impact of the new coronavirus was difficult to gauge and had not yet been factored in.
TOKYO: US stock futures rose, extending gains in Asian afternoon trading, after China said it will halve tariffs on some $75 billion of imports from the US starting Feb 14.
TOKYO: Toyota Motor Corp on Thursday raised its forecast for annual operating profit by 4.2% due to a slightly weaker yen.
PETALING JAYA: The local automotive sector is unlikely to face supply disruption in the wake of the coronavirus outbreak, although it has direct exposure to China.
Fears that the coronavirus will ravage global supply chains rooted in China are spreading fast. For automakers, a hiatus from production in the world’s largest car market may force them to take some needed rebalancing.
TOKYO: Toyota Motor Corp and Panasonic Corp have agreed to set up a joint venture that will begin developing electric vehicle (EV) batteries from April, as the Japanese companies gear up for an expected surge in demand.
OUTSIDE China, Thailand has the largest number of patients infected by the novel coronavirus. Unfortunately, the export-reliant US$500bil economy, South-East Asia’s second-largest, was sickly even before the outbreak of the pneumonia-like illness. That reflects simultaneous blows from the Sino-US trade war, the worst drought in decades and a stubbornly strong currency. Add in Beijing’s newly imposed restrictions on Chinese travellers, who account for the lion’s share of arrivals, plus the knock-on effect on other tourists, and a recession begins to look imminent.
NEW YORK: Concerns over the outbreak of coronavirus from China have largely overshadowed corporate results, but the back half of the earnings season could hold greater sway over the performance of individual stocks.