Nintendo Switch 2 sparks excitement despite high price

Business

April 4, 2025

AFP – Nintendo fans excited over the upcoming Switch console said yesterday they were disappointed by the high price tag, as United States (US) tariffs bite.

The Japanese video game giant revealed details about the Switch 2 on Wednesday, announcing an update to the hugely successful 2017 original that has sold over 150 million units.

But shares in the Kyoto-based company tanked nearly six percent following the announcement, partly because the recommended retail price – USD449.99 in the US, GBP395.99 in Britain and EUR469.99 in France – is at least a third more than its predecessor.

Shares closed down 3.3 per cent in the wake of US President Donald Trump’s sweeping levies.

These include 46 per cent on Vietnam and 49 per cent on Cambodia – countries where Nintendo has reportedly shifted an increasing share of its production in recent years. The Switch 2 games, including Donkey Kong Bonanza, Kirby Air Riders and Mario Kart World, will cost EUR80-90 (USD86-USD97).

“I will buy it, but maybe not when it’s released,” 33-year-old data analyst Felix Sorge told AFP in Tokyo. “It’s quite expensive in comparison to the old one.”

Industry research firm Niko Partners poured cold water on the idea of waiting for a discount, however.

A man walks by a Nintendo Switch display at an electronics retail chain store in Tokyo, Japan. PHOTO: AP

“We do not expect a price drop for the Switch 2 within its first five years given continued uncertainty around reciprocal tariffs, global trade and higher component costs,” it said.

The original Switch was an all-ages hit thanks to its hybrid concept, which allows players to use it on the go and connect to a TV. The new version retains many of its features, including detachable Joy-Con controllers.

What’s new is a C button that activates GameChat – allowing users to speak with one another while playing.

“Even when you’re apart, you can play games and hang out as if you were together in the same room,” Nintendo said.

The Switch 2, which will be released on June 5, will have eight times the memory of the first Switch at 256 gigabyte, and a 7.9-inch screen up from 6.2 inches for the original. Its controllers, which attach with magnets, can also be used like a desktop computer mouse, a new functionality the company clearly hopes game developers will use.

A GameShare function will also enable users to share games with friends and temporarily play together.

A 21-year-old Japanese university student, Rio Narita, called the wider range of gameplay possibilities a big deal and said Sony’s PlayStation 5 console was also expensive.

“Given all these functions and the larger screen, it’s sort of unavoidable,” he said.

But student Sayaka Motoya, 18, said the price was “tough for younger people or those who don’t have much money”.

Nintendo offered a glimpse of the hotly anticipated new console in mid-January, ahead of the live presentation Wednesday.

“The Switch 2 is more of an iteration than a reinvention of the wheel,” Niko Partners said.

Despite recent diversification efforts into movies and theme parks, Nintendo’s core business still relies on video games.

The company could sell around 19 million units in 2025 and 21 million the following year, Toyo Securities estimated.

Trump’s tariff hikes pull Asian shares, US futures sharply lower

Business

April 4, 2025

AP – Shares tumbled in Europe and Asia and United States (US) futures tumbled yesterday following US President Donald Trump’s announcement of big increases in tariffs on imports of goods from around the world.

The double-digit tariff hikes sent shivers across world markets, as economists warned it raises the risk of recession.

The future for the S&P 500 dropped 3.1 per cent while that for the Dow Jones Industrial Average lost 2.6 per cent, auguring potential losses when US markets reopen yesterday.

Germany’s DAX fell 1.7 per cent to 21,998.48, while the CAC 40 in Paris lost 1.8 per cent to 7,716.66. Britain’s FTSE 100 shed 1.2 per cent to 8,506.44.

In Asian trading, Tokyo’s Nikkei 225 index dipped four per cent briefly, with automakers and banks taking big hits. It closed down 2.8 per cent at 34,735.93.

United States President Donald Trump is shown on a screen at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea. PHOTO: AP

Mitsubishi UFJ Financial Group’s shares plunged 7.2 per cent as the potential impact of the 24 per cent tariffs on the export-dependent Japanese economy dashed expectations that the central bank will keep raising interest rates. Mizuho Financial Group skidded eight per cent.

Sony Corp.’s stocks sank 4.8 per cent and Toyota Motor Corp gave up 5.2 per cent.

Japan’s yen gained, with the US dollar falling to JPY147.42 from JPY149.28. The euro rose to USD1.0952 from USD1.0855.

In South Korea, which was hit with a 25-per-cent tariff, the benchmark Kospi fell 1.1 per cent to 2,486.70.

Hong Kong’s Hang Seng lost 1.7 per cent to 22,813.22, while the Shanghai Composite index edged 0.2 per cent lower to 3,342.01.

The announcement came as a “major shock”, Yeap Junrong of IG said in a commentary.

“China, in particular, was hit with an additional 34 per cent tariff, bringing its total tariff burden to 64 per cent when accounting for previous measures.” However, losses were partly blunted by expectations of further economic stimulus from Beijing to offset the impact of the higher tariffs.

In Australia, the S&P/ASX 200 fell 0.9 per cent to 7,859.70.

Bangkok’s SET shed 1.1 per cent after Thailand was assigned at 36 per cent tariff on its exports to the US.

That could cause Thai exports to fall by USD7 billion to USD8 billion, or about 2.3 per cent of the total, Kasem Prunratanamala of CGS International said in a report.

Malaysian ringgit stable against US dollar, ends marginally higher at 4.44

Business

April 4, 2025

BERNAMA – The ringgit, which faced pressure against the US dollar following United States (US) President Donald Trump’s announcements on global reciprocal tariffs, closed relatively stable today, said an analyst.

At 6pm, the ringgit traded marginally higher at 4.4400/4460 against the greenback from Wednesday’s close of 4.4510/4565.

Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the ringgit traded weaker in the morning session against the US dollar to MYR4.4822 but regained ground by late afternoon.

He said traders, investors, and analysts were weighing the potential fallout due to the tariff announcements.

“In response, the Ministry of Investment, Trade and Industry expressed openness to engage in discussions with the US, signalling Malaysia’s pragmatic stance. A tit-for-tat approach, after all, could backfire-import tariffs essentially function as a domestic tax burden.

“This measured response also helps maintain diplomatic ties, with both sides appearing keen to resolve tensions. Nonetheless, market sentiment is expected to remain fragile in the short term as the risk of broader retaliatory actions looms, potentially dampening global demand,” he told Bernama. Mohd Afzanizam said that given this backdrop, the ringgit is likely to trade within the MYR4.44 to MYR4.45 range in the near term.

Meanwhile, SPI Asset Management managing director Stephen Innes said the road ahead for the ringgit could be challenging from a fundamental perspective.

“However, foreign exchange is a relative game, and local traders are already shifting focus to the US side of the equation – specifically, the growing probability that this tariff shock triggers a US Federal Reserve (Fed) interest rate cut, maybe even sooner than the market’s current pricing.

“So, while the ringgit’s still nursing wounds, the narrative has shifted. (Now) it is less about the ringgit’s weakness and more about the US macro blowback, which could eventually lend some support for the ringgit. A Fed dovish pivot could be timely,” he said. On April 2, Trump declared America’s ‘Liberation Day’ from the White House Rose Garden and signed an executive order launching a sweeping global tariff regime.

Heat humble Celtics for sixth straight win, Thunder roll on

Sports

April 4, 2025

LOS ANGELES (AFP) – The Miami Heat ended Boston’s nine-game NBA winning streak with a 124-103 victory that pushed the reigning champion Celtics further behind Eastern Conference leaders Cleveland – who rallied to beat New York.

Tyler Herro scored 25 points to lead seven players in double figures for the Heat, who fought off a late Celtics surge to notch a sixth straight victory.

Boston connected on just 37.2 per cent of their shots in the first half in the face of stout Miami defense and the Heat extended their lead to 22 points early in the third quarter.

The Celtics, led by 24 points from Jaylen Brown, cut the deficit to three, but Miami had pushed it back to 10 entering the fourth quarter.

After the Celtics pulled within four early in the final frame the Heat relentlessly pulled away again.

“That just plays into that connection piece that we’ve been talking about the last couple of weeks,” Herro said.

“Playing as one, playing as a unit. They made their run – we stayed together. We didn’t fold, we didn’t let go of the rope.”

Miami Heat guard Pelle Larsson drives to the basket against Boston Celtics forward Jayson Tatum. PHOTO: AP

The victory solidified Miami’s position in the Eastern Conference play-in while the Celtics fell five games behind the Cavaliers atop the conference with six games left in the regular season.

Donovan Mitchell scored 27 points and Jarrett Allen added 21 on impressive 10-of-11 shooting for the Cavs, who rallied from an early 15-point deficit to beat the Knicks 124-105 in Cleveland.

After leading by as many as 15 points on the way to a 60-53 halftime lead, New York ran out of gas.

New York’s OG Anunoby made five of six from three-point range on the way to 19 first-half points, but scored just four in the second half.

Karl-Anthony Towns led the third-placed Knicks with 25 points and 13 rebounds, but after closing the first half on a 10-2 scoring run the Cavaliers outscored the Knicks 38-25 in the third quarter to seize control.

“We didn’t put our best foot forward at the start,” Mitchell said. “We came out kind of sloppy… For the rest of the game, the last three quarters, we did what we were supposed to do.”

The Knicks remained three games ahead of the fourth-placed Indiana Pacers, who were fuelled by 22 points and 10 assists from Tyrese Haliburton in a 119-105 victory over the Charlotte Hornets.

In the Western Conference, the Oklahoma City Thunder took their winning streak to 11 games with a 119-103 home victory over the Detroit Pistons. Most Valuable Player candidate Shai Gilgeous-Alexander scored 33 points, Jalen Williams added 23 and Chet Holmgren chipped in 22 points and 11 rebounds for the Thunder, who are assured of the top seed in the West.

Behind them, the second-placed Houston Rockets clinched a playoff spot in emphatic style, beating the league-worst Utah Jazz 143-105.

The Rockets are three games ahead of the Los Angeles Lakers and Denver Nuggets – who fell 113-106 to the San Antonio Spurs as Denver coach Mike Malone rested all five of his regular starters one day after their double overtime loss to the Minnesota Timberwolves.

The absentees included reigning MVP Nikola Jokic, who scored 61 points and played 53 minutes in Tuesday’s defeat but has been nursing elbow and ankle injuries.

In Dallas, Anthony Davis took an elbow to the eye early but came back to drive for the game-winner with 3.4 seconds left in the Mavericks’ 120-118 victory over the Hawks.

Davis, who suffered a cut over his right eye when teammate Daniel Gafford accidentally elbowed him, scored a game-high 34 points with 15 rebounds and the Mavs gained a much-needed win as they battle for a play-in tournament berth.

The top six finishers in each conference qualify automatically for the playoffs, while teams placed seventh to 10th will battle through the play-in tournament for the final two spots.

Messi, Miami stunned by LAFC in CONCACAF Champions Cup

Sports

April 4, 2025

LOS ANGELES (AFP) – Los Angeles FC sent Lionel Messi and Inter Miami spinning to their first defeat of the season, scoring an upset 1-0 victory in their CONCACAF Champions Cup quarter-final clash.

A 57th-minute strike from El Salvador international Nathan Ordaz handed LAFC a precious advantage heading into next Wednesday’s return leg in Florida.

“I think we saw a complete performance,” said LAFC coach Steve Cherundolo, whose only complaint was that his team had not managed to win by a more convincing margin.

“If we’re honest with ourselves we need to be a little sharper in front of goal. If we get the same types of chances next week in Miami we need to be a little more ruthless.”

Miami coach Javier Mascherano had few complaints about his team’s defeat.

“Obviously we didn’t have the best night tonight but it’s only the first leg,” Mascherano said. “We have another game next week. We can do what we need to reach the semi-finals.”

Unbeaten in nine games across all competitions since the start of the season, Messi and Miami arrived in Los Angeles as the form team of Major League Soccer.

But after a cagey first half that saw neither side manage to get on top, Los Angeles raised their intensity and began causing problems for the visitors.

LAFC fullback Ryan Hollingshead squandered a golden chance in the 54th minute, blasting well wide after bursting into the penalty area on the overlap.

They made the breakthrough three minutes later with the 21-year-old homegrown striker Ordaz spinning away from former Barcelona and Spain international Sergio Busquets and thumping a low shot into the bottom corner past Miami keeper Oscar Ustari.

Argentine superstar Messi, making his first start since returning as a substitute last weekend following a two-week injury layoff, struggled to gain a foothold in the contest.

South Korean chip industry cautious despite US tariff

Business

April 4, 2025

ANN/THE KOREA HERALD – With US President Donald Trump announcing a 25-per-cent tariff on South Korean imports, the country’s semiconductor industry breathed a sigh of relief after being excluded but remained wary of potential sector-specific duties.

The White House stated on Wednesday that certain goods, including semiconductors, steel, and automobiles, would be exempt from the new tariffs.

However, a minimum 10 per cent “baseline” tariff would apply to exports from all countries, alongside country-specific “reciprocal” tariffs, including a 25-per-cent duty for South Korea.

Industry officials remained on alert as the US signalled possible sector-specific tariffs. While South Korea’s top chipmakers, Samsung Electronics Co and SK hynix Inc, have not issued official statements, they are actively reviewing strategies to mitigate potential trade risks.

“There are still uncertainties,” said an official from a South Korean semiconductor company, who asked not to be identified. “The global semiconductor value chain is highly complex, and major US tech companies play a central role. The US government may need more time to picture details.”

Already, 25 per cent tariffs on imported cars and key auto parts took effect yesterday, potentially impacting all related industries.

Experts suggest that South Korean firms may need to strengthen their US production strategies to align with Trump’s push for domestic job creation.

“Trump continues to pressure foreign companies to establish manufacturing facilities in the US and create jobs,” said professor Kim Dae-jong at Sejong University.

Adding to concerns, Trump’s has also expressed scepticism toward providing subsidies under the US CHIPS Act. Samsung Electronics signed a deal last year to receive a USD4.7 billion subsidy from the US Department of Commerce for its USD37 billion investment in Texas, while SK hynix is set to receive USD458 million in subsidies for its investment in Indiana, both under the CHIPS Act.

Singapore’s manufacturing indicators hit eight-month low in March

Business

April 4, 2025

ANN/THE STRAITS TIMES – Singapore’s manufacturing sector is showing signs of further weakening, with leading indicators declining for the third consecutive month in March 2025, reaching their lowest point in eight months.

The Purchasing Managers’ Index (PMI), a key gauge of sector activity, stood at 50.6 in March, just 0.1 point lower than February’s 50.7. A reading above 50 signals growth, while below indicates contraction.

Similarly, the electronics PMI, which represents a significant portion of Singapore’s manufacturing, also fell by 0.1 point to 50.9, as reported by the Singapore Institute of Purchasing and Materials Management on April 2.

The slowdown is evident across Asia, with the ASEAN PMI, as well as indices in India and North Asia, including South Korea, also showing declines.

Meanwhile, the declines in the PMIs of Thailand and the Philippines brought them into contraction territory, joining Malaysia and South Korea.

Bucking the trend were China and Vietnam, which registered improvements.

In Singapore, while the majority of sub-indexes of the overall PMI and that of electronics posted declines, stocks of raw materials or components that go into the final product, as well as supplier deliveries, rose, albeit marginally. Experts told The Straits Times that the slowdown was to be expected, given the escalation in United States (US) President Donald Trump’s beggar-thy-neighbour trade policy, culminating in the all-out ‘Liberation Day’ offensive on April 2 US time.

UOB associate economist Jester Koh said this has caused uncertainty surrounding US trade policy to hit “new record highs” as reflected in the Trade Policy Uncertainty (TPU) index.

“This is materially above levels seen during the 2018-2019 trade wars under Trump’s first term,” he said.

Biochemists check a bio-reactor used for manufacturing medical products in Singapore. PHOTO: AFP

Hamilton rubbishes claims he’s lost faith in Ferrari

Sports

April 4, 2025

SUZUKA (AFP) – Lewis Hamilton said yesterday that suggestions that he had lost faith in Ferrari were “complete rubbish” as he looks to rebound from his Chinese Grand Prix disqualification this week in Japan.

The seven-time world champion has experienced the highs and lows over his first two race weekends with Ferrari, finishing 10th in Australia before taking his maiden victory in Scuderia red at the sprint race in Shanghai.

Hamilton’s joy turned to despair the next day as he and teammate Charles Leclerc were both kicked out of the Chinese Grand Prix by stewards for separate technical infringements.

Hamilton told reporters ahead of this weekend’s Japanese Grand Prix at Suzuka that he “didn’t feel any frustration” over the outcome in Shanghai.

“I saw someone said whether I’m losing faith in the team, which is complete rubbish,” he said.

“I have absolute 100 per cent faith in this team.”

Expectations had been distorted, added Hamilton, by the “huge amount of hype” surrounding his move from Mercedes to Ferrari.

“I don’t know if everyone was expecting us to be winning from race one and winning a championship in our first year,” Hamilton said.

“That wasn’t my expectation. I know that I’m coming into a new culture, a new team and it’s going to take time.”

Hamilton said he was “not surprised” that Red Bull had replaced the underperforming Liam Lawson with Yuki Tsunoda just two races into the new season, but called the decision “pretty harsh”.

The 40-year-old Hamilton is one of the elder statesmen of F1 and expressed sympathy with the 23-year-old Lawson.

Ferrari driver Lewis Hamilton of Britain steers his car during the Chinese Formula One Grand Prix. PHOTO: AP

Juve at in-form Roma with Champions League in the balance

Sports

April 4, 2025

MILAN (AFP) – Juventus’ bid to salvage Champions League football from their deeply disappointing Serie A campaign will be seriously tested on Sunday night at red-hot Roma as the battle for a top-four spot hots up.

Igor Tudor’s fifth-placed side are one point outside the Champions League positions ahead of their trip to Rome after a shaky, if winning, start against Genoa last weekend.

And with six teams still in the hunt for two places with eight matches remaining, Juve head to Rome at real risk of not reaching Europe’s elite club competition.

Juve cannot afford to miss out on the Champions League given the club’s recent negative financial history and the over EUR200 million (USD217 million) invested in renewing the squad for Tudor’s sacked predecessor Thiago Motta.

Seven points separate third-placed Atalanta and Fiorentina in eighth on a weekend when the six contenders either face a direct rival or another type of tough fixture.

Juve are being kept out of the top four by in-form Bologna who host title-chasing Napoli on Monday night and are on a run of six straight wins after beating Empoli 3-0 in Tuesday’s first leg of their Italian Cup semi-final.

Meanwhile both Roma and Lazio – at Atalanta on Sunday – are three points behind Juve with Fiorentina a further point back ahead of their home clash with troubled AC Milan, who sit ninth and nine points behind Bologna.

At the Stadio Olimpico Juve will face Italy’s form team in Roma, who are hunting what would be a surprise Champions League qualification after a remarkable renaissance under Claudio Ranieri.

Roma are on a seven-match winning streak in Serie A and haven’t lost in the league since before Christmas, dropping just six points in their last 14 fixtures.

However Juve are the first of a run of tough fixtures for Roma who have made the most of their recent matches against more modest opposition and have lost talisman Paulo Dybala to injury for the rest of the season.

After taking on Juve, Roma face local rivals Lazio and have trips to league leaders Inter Milan and Atalanta, as well as the visit of Fiorentina, in a make-or-break end to the campaign.

Inter, meanwhile, face one of the less strenuous fixtures of their April tour de force, against Parma on Saturday with the first leg of their Champions League quarter-final against Bayern Munich in Germany coming on Tuesday night.

Inter, three points ahead of Napoli at the top of the division, are sweating on the condition of captain Lautaro Martinez ahead of the trip to Bavaria.

Juventus’ Croatian coach Igor Tudor celebrates with Juventus’ Serbian forward Dusan Vlahovic and Portuguese defender Renato Veiga. PHOTO: AFP

Trump tariffs spark fears for Asian jobs, exporting sectors

Business

April 4, 2025

AFP – Across Asia, factory workers, directors, trade associations and analysts voiced concern yesterday that United States (US) President Donald Trump’s stinging tariffs could put jobs at risk and hammer key sectors of industry.

Trump ramped up a global trade war as he imposed sweeping levies on imports into the US on Wednesday, sparking worries about what the implications might mean for workers and businesses.

“I can’t eat or sleep well because I keep worrying about losing my job,” said Cao Thi Dieu, who helps make shoes for Western brands such as Nike and Adidas at a factory in Ho Chi Minh City.

Vietnam was hammered with huge tariffs of 46 per cent as part of Trump’s global trade blitz, which sent shares tumbling more than seven per cent in Hanoi yesterday.

Dieu, 38, feared the tariffs would impact the job she has been doing for two decades.

“How will I manage if I lose my job? How will I continue earning money each month to take care of my two children’s education?” she said.

“I only want to stay in the shoe manufacturing job because I don’t know how to do other work.” A director at a financial technology firm in Singapore, Erik Hon, thought the tariffs would drive up global inflation.

Chief eEconomist for Asia Pacific at investment managers Natixis in Hong Kong Alicia Garcia-Herrero warned the tariffs could backfire.

“The largest loser is the US, because everybody’s being taxed so there’s no escape for higher inflation,” she said.

Chrissy Chan, 48, a business owner in Malaysia, told AFP she was worried it would cost her more to travel to the US to visit her family.

But she said the tariff rates “do not make sense to me… I won’t be surprised if the Trump admin does another backpedal”.

President of the SME (small and medium enterprises) Association of Malaysia Chin Chee Seong said the higher tariffs on other countries might give Malaysian firms a competitive advantage.

However, “we import a lot of IT products from the US”, he told AFP.

“If we impose a reciprocal tariff, the end user here will pay more. We will suffer. It works both ways.”

Borneo Bulletin OnlineThe Independent Newspaper in Brunei Darussalam, Sabah and Sarawak

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