Asian stocks mixed as treasury yields stabilise from seven-year peak

Asian stocks traded mixed on Wednesday, as yields on Treasuries retreated from a seven-year peak. The dollar edged lower against major currencies.

Shares in Japan rose after four days of losses, while those in China reversed gains. Hong Kong stocks outperformed their South Korean counterparts, lagging after a holiday.

Earlier, the S&P500 Index was dragged down by materials shares, after a profit warning in the sector, while technology shares rebounded from a three-day rout. Treasuries steadied with the yield on the 10-year benchmark little changed at 3.21 per cent, while the greenback remained under pressure after US President Donald Trump said the Federal Reserve is moving too fast with interest-rate hikes.

Asian investors are assessing increasingly attractive valuations against a backdrop of deepening US-China tensions and a surge in volatility for stock and bond markets.

Flipkart deal wrapped, Walmart now eyeing deals in Brazil and Japan

The sun never sets on Walmart Inc.’s empire, thanks to its network of stores across five continents. But in the span of 10 days, chief executive Doug McMillon has begun dramatically redrawing the retailer’s map, and there’s likely more to come as it places bets to remain on top.

“All of a sudden, everything is in play,” said Dave Marcotte, an analyst at Kantar Retail.

In less than two weeks, Walmart has agreed to cede control of its British business to a competitor and spend $16 billion to acquire India’s e-commerce leader in its biggest-ever deal, fending off Amazon.com Inc. The wheeling and dealing show how McMillon is focusing on high-potential markets like China and India, finding partners to help it battle online and cutting loose middling businesses. He’s got more work to do, though, and subpar markets like Brazil and Japan might be next on his list.

Walmart’s far-flung international units don’t get much attention, but they’re important as a source of cash, management talent and ideas that percolate into its core U.S. operations. Sales growth outside the U.S. once topped more than 10 percent annually, adjusted for currency moves, but it’s less than half that now as sluggish economies, store closures and fierce competition have taken their toll.

Jio plans to raise Rs 32.5 bn from Japan's MUFG, Mizuho and Sumitomo Mitsui

Telecom operator Reliance Jio is learnt to be in talks with three Japanese banks to raise $500 million (around Rs 32.50 billion) in debt.

"Reliance Jio is in discussion with MUFG (formerly The Bank of Tokyo-Mitsubishi UFJ) , Mizuho Bank and Sumitomo Mitsui Banking Corporation to raise $500 million," sources in the know of the development told PTI.

An e-mail query sent to the company seeking a response remained unanswered.

Last month the Reliance Jio board had approved raising of around Rs 200 billion in debt. The company has invested over Rs 2 billion in the mobile business which has garnered over 168 million customers.

The Mukesh Ambani firm has also signed agreement to buy mobile business assets of Reliance Communications-- the company led by his younger brother Anil Ambani, for around Rs 250 billion.

The source did not mention the timeline for raising the loan from Japanese banks and said, "The agreement is yet to be signed.

Apple's iPhone 8 pops open due to bloated battery: Chinese state media

A fresh case of Apple Inc's new iPhone popping open due to a swollen battery has been reported in state media in China, the world's biggest smartphone market where the US firm is seeking to revive faltering sales.

The incident comes as Apple investigates similar cases reported in Taiwan and Japan of batteries in its latest iPhone 8 Plus becoming bloated, causing the device's casing to open.

On its website on Thursday, China's state-backed ThePaper.cn cited an iPhone buyer surnamed Liu as saying his newly purchased iPhone 8 Plus arrived cracked open on Oct 5. There was no sign of scorching or an explosion.

Liu told ThePaper he bought the handset through online marketplace of JD.com Inc. He said he did not charge the new device and returned it to the seller.

Pictures taken by Liu and displayed on ThePaper's website showed an iPhone 8 plus split open along the side featuring the sim card holding, with the phone's internal parts visible.

An Apple spokesperson said the company is looking into the matter and declined to comment further.

The incident comes as indifferent reviews of the iPhone 8, which comes 10 years after Apple released the first version of the revolutionary phone, drove down shares of the company since the handset's launch.

Some investors worry whether pre-orders for the device were well below previous launches, although some Apple fans are waiting for the premium iPhone X due out in early November.

Apple competes in China with local makers, including Huawei Technologies Co Ltd and Oppo which sell phones with high-end features at lower prices.