China's Great Wall Motor is targeting annual production of 300,000 vehicles by 2029 in Europe where it is scouting locations for its first car plant in a battle to revive flagging regional sales, a company executive said.
Most Asian stocks advanced on Thursday, tracking an extended recovery in Wall Street as investors bought back into technology shares amid growing conviction the U.S. Federal Reserve will cut interest rates next month.
U.S. economic activity was little changed in recent weeks, though employment was weaker in about half of the Federal Reserve's 12 districts and consumer spending declined, the U.S. central bank said on Wednesday, likely reinforcing concerns about the job market as the next interest rate decision nears.
J.P. Morgan said on Wednesday it now expects the U.S. Federal Reserve to deliver a 25-basis-point rate cut in December, reversing its earlier call that policymakers would stay on hold until January.
Oil prices slipped in Asian trade on Thursday after official data showed a much larger-than-expected build in U.S. crude stocks, while a Washington-backed Ukraine peace framework raised the prospect of more Russian supply returning to markets.
Thailand put its military in charge of tackling a devastating flood crisis on Tuesday and readied reinforcements to evacuate thousands of people, as heavy rain hobbled relief efforts after some of the worst flooding to hit the south in years.