Asia business new today

Here are some of the top business news stories from Asia today:

China:

• China's economy grew 6.1% in the first quarter, beating expectations and showing signs of stabilization. (Source: Bloomberg)
• Alibaba Group Holding Ltd. has launched a new e-commerce platform in China, targeting small and medium-sized enterprises. (Source: Reuters)
• China's central bank has cut the reserve requirement ratio for commercial banks, freeing up more funds for lending. (Source: Xinhua)

Japan:

• Japan's economy contracted 0.2% in the first quarter, worse than expected, due to a decline in exports. (Source: Nikkei)
• Toyota Motor Corp. has announced a recall of over 2 million vehicles worldwide due to a software issue. (Source: Reuters)
• Japan's government has approved a plan to increase the country's minimum wage by 3% from April. (Source: Japan Times)

South Korea:

• South Korea's economy grew 1.1% in the first quarter, driven by a surge in exports. (Source: Yonhap)
• Samsung Electronics Co. has announced a 52% increase in its quarterly profit, driven by strong demand for memory chips. (Source: Reuters)
• South Korea's government has launched a new initiative to promote the country's startup ecosystem. (Source: Korea Times)

India:

• India's economy grew 5.8% in the first quarter, slower than expected, due to a decline in manufacturing and construction. (Source: Reuters)
• Reliance Industries Ltd. has announced a 12.5% increase in its quarterly profit, driven by strong demand for petrochemicals. (Source: Bloomberg)
• India's government has launched a new scheme to provide financial assistance to small and medium-sized enterprises. (Source: Economic Times)

ASEAN:

• The Association of Southeast Asian Nations (ASEAN) has launched a new initiative to promote economic integration and cooperation among its member states. (Source: ASEAN)
• Indonesia's economy grew 5.07% in the first quarter, driven by a surge in consumer spending. (Source: Jakarta Post)
• Malaysia's economy grew 4.2% in the first quarter, driven by a surge in exports. (Source: Bernama)

These are just a few of the top business news stories from Asia today.