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Real-time News
Former Bank of Japan board member Makoto Sakurai stated that if the yen weakens again before the expected Japan-US summit in March, the Bank of Japan could raise interest rates as early as March. Sakurai said, "Intervention in the exchange rate will only have a temporary effect on curbing yen selling pressure. The best way to deal with a weak yen is for the Bank of Japan to raise interest rates." Sakurai added that further yen depreciation would push up inflation by increasing import costs and offset some of the downward pressure from government fuel subsidies. He further added that if a significant yen depreciation is needed, the Bank of Japan could raise interest rates as early as March, citing the expectation of strong wage growth from companies and unions in the spring annual wage negotiations.SK Group Chairman Chey Tae-won, chairman of SK Hynixs parent company, has pledged to expand production of AI memory chips to meet surging demand from global data center construction. He stated that high-bandwidth memory chips are "monster chips" that have brought huge profits to SK Hynix. The chipmakers stock price has more than quadrupled in the past year due to record earnings. While he did not specify the scale of the expansion at his chip company, SK Hynix stated in January that its capital expenditure in 2026 would increase significantly compared to last year to meet demand for HBM chips.A source at Indias Ministry of Commerce said on the 22nd that India has postponed its planned trip to Washington this week, primarily due to uncertainty following the US Supreme Courts overturning of President Trumps tariffs. This is one of the first concrete reactions from Asian countries to the ruling. Previously, after the court rejected the tariffs, Trump announced on the 21st a temporary 15% tariff on all goods imported into the US, the highest rate allowed by law. The source, who requested anonymity, said, "The decision to postpone the visit was made after consultations between officials of both countries. A new date for the visit has not yet been determined."Data from the Tongcheng Travel platform shows that the top ten popular destinations for traditional "New Years flavor tours" during this years Spring Festival holiday were, in order: Shantou, Fuzhou, Beijing, Ganzhou, Suzhou, Jiujiang, Shanghai, Quanzhou, Dehong, and Kaifeng. Among them, hotel bookings in popular Guangdong destinations such as Shantou saw year-on-year increases exceeding 80%, ranking among the highest in the country. Furthermore, the first long Spring Festival holiday after the border closure, coupled with the festive atmosphere created by events such as the 18th Haikou Wanchun Fair, led to record-breaking popularity for shopping and leisure travel in Hainan during the Spring Festival, with hotel bookings across the island increasing by over 70% year-on-year.South Koreas upcoming local elections entered their 100-day countdown on February 22, with political parties intensifying their preparations to garner voter support. This election is considered the first major test since President Lee Jae-myung took office, and the success of his ruling Democratic Party is a key focus of international attention. South Koreas local elections are held every four years, electing leaders of provincial, special city, metropolitan city, city, county, and district governments, as well as education supervisors, education councilors, and local councilors at various levels of local autonomy. The new local elections are scheduled for June 3, coinciding with by-elections for members of the National Assembly. According to regulations, public officials running for office must resign by March 5, while members of the National Assembly must resign by May 4.
