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Crude Oil

Crude Oil

Asia stocks rise, bonds fall when traders assess the odds of a bigger Fed cut

Asian stocks followed Wall Street higher Wednesday, while bonds fell. Traders increased their bets on the possibility that the Federal Reserve would cut rates next week by at least one quarter point due to a softening of U.S. labor market conditions. The dollar is also rising, as the U.S. Inflation figures will be released on two days, beginning later Wednesday. These are the last data that will inform the Fed’s decision of September 17. Crude oil prices remained high after Israel's attacks on Hamas leaders in Qatar. The Nikkei 225 index in Japan rose 0.3%. South Korea's KOSPI increased by...

Crude Oil

Stocks are upbeat due to the prospect of Fed easing, which outweighs political uncertainties

Asia stocks rose Tuesday on the back of expectations that the U.S. will cut rates as soon as next week. However, political turmoil around world kept currency and bonds investors on edge. The broadest MSCI index of Asia-Pacific stocks outside Japan rose 0.7%. It took its lead from Wall Street, where the Nasdaq closed at a record-high overnight. Nasdaq Futures rose 0.06% last, while S&P500 futures also ticked upwards by 0.05%. European futures meanwhile eased as regional benchmark indexes recorded gains in the cash sessions on Monday. The EuroStoxx 50 futures declined by 0.2%. The FTSE and DAX Futures both...

Crude Oil

Morning bid Europe - Political turmoil is thick and fast

Rae Wee gives us a look at what the European and global markets will be like tomorrow. Politics is never quiet. In the last few days, British Deputy PM Angela Rayner, and Japanese Prime Minster Shigeru Ishiba resigned. French lawmakers voted Francois Bayrou out of office. The party of Argentinean President Javier Milei suffered a crushing defeat. And Indonesia replaced its longtime finance minister. Investors will be watching to see who President Emmanuel Macron appoints France's 5th Prime Minister in less than 2 years. Macron has not yet called a snap election. He appears to be set on appointing a...

Crude Oil

Stocks soar as the prospect of Fed easing outweighs political uncertainty

Asia stocks rose Tuesday on the back of expectations that the U.S. will cut rates as soon as next week. However, political turmoil around world kept currency and bonds investors on edge. MSCI's broadest Asia-Pacific index outside Japan rose by 0.2% early in the morning, following Wall Street's lead that was set overnight when Nasdaq closed at a record-high. Nasdaq Futures continued the rally that began in the cash session, and ended the day up 0.06%. S&P500 futures also ticked higher by 0.05%. The expectation that the Federal Reserve will ease rates at its meeting next week after Friday's disappointing...

Crude Oil

US stocks reach record highs as weak employment data fuels rate-cut bets

U.S. stock prices briefly reached record highs before trading lower on Friday. Data showing that U.S. employment growth slowed in August led investors double down on their bets the Federal Reserve would cut interest rates this month by up to 50 basis points. The speculation that the Fed would lower rates more aggressively sent Treasury yields tumbling and the U.S. Dollar plummeting, but gold reached a record high of $3,600 an ounce. Equity markets are viewed as a positive by many investors when interest rates drop. This could result in lower borrowing costs for business. Gold, which doesn't pay interest,...

Crude Oil

US stocks reach record highs as weak employment data fuels rate-cut bets

U.S. stock prices briefly reached record highs before trading lower on Friday. Data showing that U.S. employment growth slowed in August led investors double down on their bets the Federal Reserve would cut interest rates this month by up to 50 basis points. Treasury yields fell on speculation that the Fed would lower rates more aggressively, and the U.S. Dollar dropped, but gold reached a record high, bringing it closer to $3600 per ounce. Equity markets are seen as a positive when interest rates drop, because it could result in lower borrowing costs for business. Gold, which doesn't pay interest,...

Crude Oil

Focus on US job data, European stocks and yields rise

European stocks rose on Friday, while yields on long-dated bonds eased as markets averted concerns over fiscal deficits across various countries. The S&P 500 reached a new record high on Thursday, after the weekly jobless claims data revealed more than expected. Overnight, Asian stocks followed Wall Street's upward trend. At 1127 GMT, the MSCI World Equity Index rose 0.3% for the day. Europe's STOXX 600 also gained 0.3%. The STOXX 600 is expected to finish the week with a slight gain after recovering from the dip that occurred earlier in the week. The FTSE 100 and France's CAC 40 both...

Crude Oil

Bond yields fall before US payrolls, as Asian stocks follow Wall Street's upward trend

The Asian stock market followed Wall Street to a new record high on Friday, and Treasury yields fell to their lowest level in four months as traders bet that the Federal Reserve will cut rates later this month despite the fact that the U.S. employment data is due to be released at the end of the day. The U.S. Dollar eased slightly on Friday, giving back gains made Thursday when the dollar was buoyed up by weak labour market data. Gold has remained steady since Thursday, when it fell from its all-time high. Investors waited for an OPEC+ summit this...

Crude Oil

Asia markets rise as Fed comments and jobs data suggest rate cuts

Asian stocks rose on Thursday, mainly due to dovish remarks from Federal Reserve officials. A smooth auction of Japanese superlong debt also helped calm investor nerves. Australia, India, and Japan saw their shares rise, while Chinese shares dropped the most since April, on reports that regulatory intervention was being taken to curb runaway speculation. MSCI's broadest Asia-Pacific share index outside Japan gave up its early gains, and fell 0.2%. China was the main culprit, as it lost ground. Bloomberg News reported that financial regulators are preparing cooling measures to cool the market. The CSI 300 dropped as much as 2,6%....

Crude Oil

Asia markets rise as Fed comments and jobs data indicate rate cuts

Asian stocks rose in the early hours of trading on Thursday, as Federal Reserve officials' dovish remarks soothed investor nerves during a period when global growth concerns and bond market sell-offs were at an all-time high. The Nikkei rose by 1.2%, and Australian shares gained 0.8% after their largest one-day drop since April. MSCI's broadest Asia-Pacific share index outside Japan, which includes Japan and Australia, lost early gains before falling 0.2% in the last few days. Losses in China were a major factor. Bloomberg News reported that financial regulators were preparing cooling measures to cool the market. The Shanghai Composite...

Crude Oil

Asia markets stabilize as Fed comments and jobs data point towards cuts

Asian stocks rose in the early hours of trading on Thursday, as Federal Reserve officials' dovish remarks soothed investor nerves during a period when global growth concerns and bond market selloffs were at an all-time high. After a mildly positive session for U.S. stock markets, MSCI's broadest Asia-Pacific share index outside Japan rose 0.5%. The Nikkei opened 1.2% higher, after recovering from its biggest one-day drop since April. Australian shares rose 0.7%. Chinese stocks opened lower, bucking the regional trend. Shanghai Composite dropped 0.4%, and was on course for a third consecutive day of declines following a Bloomberg News report...

Crude Oil

Wall St. lifts Asia shares as markets await US inflation figures

Asian stocks rose on Friday on the back of a tech-driven rally in Wall Street. Investors are now looking forward to the key U.S. Inflation reading that will be released later today for more clues about the Federal Reserve's interest rate outlook. The results from Nvidia, the artificial intelligence giant this week, fell short of expectations. However they confirmed that AI infrastructure expenditure remains strong. This helped to lift both Dow Jones Industrial Average and S&P 500 to record closes on Thursday. The Asian markets seized on the positive momentum of Friday, as MSCI’s broadest Asia-Pacific share index outside Japan...

Environment

Environment

Malaysian automaker Proton opens first EV plant

Malaysian automaker Proton opened its first assembly plant for electric vehicles on Thursday as it looks to develop its EV sector. The plant, which is located in the Automotive High-Tech Valley of western Perak State - Malaysia's primary auto-making hub – will initially have a capacity to produce 20,000 vehicles annually. Proton stated in a press release that this could be increased to 45,000 cars per year. Proton announced that the e.MAS 7 will be its first EV and then the e.MAS 5 as the entry-level model. Proton's majority owner is the Malaysian conglomerate DRB HICOM, while China's Zhejiang geely...

Climate Change

Tea exports from India and the global supply are threatened by a dry climate

Kamini Kurmi, a picker at a tea estate in Assam (India's northeastern State), wears an umbrella over her head so that her hands are free to pluck the delicate leaves off the bushes. Kurmi is one of many women who are employed to harvest conventional crops using their dextrous hands, rather than machines. The extreme weather conditions are shrinking harvests in India's tea plantations. This is threatening the future of a beverage industry that has been renowned for refreshing beverages like Assam and Darjeeling. It also threatens a global market valued at over $10 billion per year. Scientist Rupanjali Baruah...

Environment

Swiss court considers climate case brought by Indonesian islanders against Holcim

On Wednesday, a Swiss court will decide whether or not to hear a lawsuit against Holcim, a Swiss cement giant and one of the largest in the world. The complaint alleges that the company does too little to reduce carbon emissions, contributing to global climate change. Four residents from the Indonesian island Pari, which is repeatedly inundated as sea levels rise due to warmer temperatures, filed a legal complaint with the cantonal court of Zug in Switzerland in January 2023. The court must declare its competence and admit the complaint before proceeding. Next, the court will consider the merits of...

Mining

Mineral Resources

Mineral Resources

Merdeka Copper Gold, Indonesia's largest copper and gold company, says that its subsidiary will be launching a $300 million IPO

The Indonesian miner PT Merdeka Copper Gold Tbk announced on Monday that its gold mining division has received approval from the regulator for bookbuilding in preparation for an initial public offer to raise up to 4.9 trillion rupiah (300.6 million dollars). PT Merdeka Gold Resources said it plans to issue up to 1.6 billion shares at the IPO scheduled on September 17-19. Statement said that the company would use the proceeds to pay off debts and fund its gold mining, processing and manufacturing business. The company's flagship mine, Pani Mountain in Sulawesi, is estimated to contain 7 million ounces gold....

Mineral Resources

Andy Home: Myanmar mine still a major player in the tin market

As the market waits for the Man Maw Mine to return in Myanmar, tin continues to outperform other base metals on the London Metal Exchange. Two years have passed since the mine was shut down for a resource assessment. Six months have passed since the authorities of the semi-autonomous Wa State invited new applications for mining permits. There is still no sign of a significant increase in activity. The flow of tin concentrats from Myanmar into neighbouring China is almost completely dry. The uncertainty surrounding Man Maw led to a resurgence of fund interest in tin, which pushed the LME...

Mineral Resources

Iron ore prices rise on demand and lower inventories

Iron ore futures were in a tight range on Friday but were expected to gain weekly, supported by a steady demand from the top consumer China, and declining inventories. The January contract for iron ore on China's Dalian Commodity Exchange closed the daytime trading 0.77% higher, at 787.5 Yuan ($110.10) per metric ton. This represents a 2.3% weekly increase. As of 0814 GMT the benchmark October iron ore price on Singapore Exchange was down by 0.53%, at $103.55 per ton. However, it has gained 3% this week. The demand for this key ingredient in steelmaking remained strong despite the production...

Mineral Resources

Malaysia declares that China is willing to assist in rare earths processing

Malaysia said that China is willing to offer technical and technological assistance to Malaysia in the rare earths industry, but it only wants to work with state-owned companies. Malaysia is working to improve its rare earths processing and mining capabilities to capitalize on the growing global demand for these critical minerals, which are used in many products such as semiconductor chips, electric cars, and military equipment. China, which is the top rare earth miner and processor in the world, has tightened export restrictions to protect its position. Malaysia's Natural Resources and Environmental Sustainability minister Johari Abdul Ghani stated in a...

Mineral Resources

South32 is not concerned about Indonesian alumina replicating the nickel success.

South32, a diversified Australian miner, is closely monitoring the alumina developments occurring in Indonesia. The CEO Graham Kerr stated on Thursday that South32 will be watching to see if they drag down the prices of tin in the global markets in the same manner as its nickel industry. In recent years, Indonesia has increased its production of nickel to make it the world's largest supplier. This is a result of Indonesian efforts to increase domestic processing. Since then, the Indonesian government has sought to replicate this success on other markets. Last year, Indonesia became a net exporter for alumina. Alumina...

Mineral Resources

Freeport Indonesia will complete repairs at Gresik by early September

A spokesperson for PT Freeport Indonesia said that the company expects its East Java joint venture smelter to be repaired by early September. The company reported that repairs at an oxygen facility delayed the startup of Gresik, a joint-venture between Freeport Indonesia, Japan's Mitsubishi Materials Corp and Freeport Indonesia. This smelter has been under maintenance for the last month. Katri Krisnati said that the repairs to the oxygen plant of PT Smelting will be completed in September 2025. She did not elaborate. The annual production capacity is 342,000 metric tonnes of copper cathode. This plant takes approximately 40% of Freeport’s...

Mineral Resources

Iron ore prices rangebound due to rising supply and firm demand

The iron ore price ranged on Wednesday, as a growing supply of the steelmaking component offset a solid demand in the near term. As of 0237 GMT, the most traded January iron ore contract at China's Dalian Commodity Exchange dropped 0.38% to 775 yuan ($108.70). As of 0227 GMT, the benchmark September iron ore traded on Singapore Exchange was up 0.26% at $102.6 per ton. The daily hot metal production hovered around 2.4 millions tons due to healthy steel margins. This resulted in a steady demand for raw materials including iron ore and prevented a price drop. Analysts say that...

Mineral Resources

Danantara and China’s GEM will develop nickel processing hubs in Indonesia

An official announced on Tuesday that the Indonesian sovereign fund Danantara would invest in developing a nickel-processing hub with Chinese battery recycler GEM. The funds, which total $8.3 billion, will be available for investment by 2025. Danantara will be making its first venture into Indonesia's nickel sector, which is crucial to the country. The government wants to capitalize on the vast amount of nickel in the country that's used for electric vehicle batteries. Indonesia is the largest nickel producer in the world. In an interview, Pandu Sjahrir, the investment chief of the fund said that they had just signed a...

Mineral Resources

James Hardie, a fiber cement manufacturer, sees profits below expectations due to weak US demand

James Hardie, a fiber cement manufacturer, forecast underlying earnings for the full year below expectations on Wednesday as rising borrowing costs and tariffs in the U.S. dampened housing market activity and demand. James Hardie predicted adjusted operating earnings of between $1.05 and $1.15 for fiscal year 2026. This is below Visible Alpha's consensus estimate of $1.23. It earned $1.1billion in fiscal 2025. In a press release, CEO Aaron Erter stated that "over the course of the summer the single-family construction activity was weaker than expected and we have adjusted expectations to account for the softer demand." Homeowners defer large-ticket remodeling...

Mineral Resources

Japan steel groups are seeking reforms to prevent tariff evasion, as China exports soar.

Japanese steel lobby groups have demanded early measures to stop the evasion and avoidance of anti-dumping duties aimed at protecting the domestic industry from unfair imports. This move coincides with record steel exports by China, the largest producer in the world, which have sparked protectionist reactions around the globe. Since January of last year, almost 40 countries have launched anti-dumping investigations. The Japan Iron and Steel Federation and other four industry groups have said that swift action is required as countries like China try to avoid antidumping tariffs by routing their exports through a third country or performing minimal processing...

Mineral Resources

Bangladesh Brick Industry tries to Clean Up Its Act

Bangladesh closes clay brick kilns for environmental protection Concrete blocks, for example, are in high demand. Cost of upgrading to advanced kilns or blocks Tahmid Zami Tahmid Zami Industry insiders claim that the government is closing polluting kilns to clean up the air and achieve environmental goals. However, adoption of cleaner alternatives has been lagging behind. Other Asian countries, such as China and Vietnam, are increasingly adopting cleaner alternatives, including automated, energy-efficient brickmaking technology or production of concrete blocks. According to official statistics, the government's environment agency has closed more than 600 kilns. Approximately 3,500 of Bangladesh's 8,080 kilns will...

Fossil Fuels

Australia provides $87.4 Million bailout to Trafigura Lead, Zinc Smelters

The Australian government announced on Tuesday that it would provide A$135 (US$87.4M) in financial assistance to two smelters in Australia's southern region owned by Nyrstar. Nyrstar is a subsidiary of commodity trader Trafigura. Trafigura placed its Port Pirie lead-smelting operations, in South Australia, and its zinc processing operation in Hobart in Tasmania under strategic review in early this year after high energy costs and lower processing fees rendered the businesses unprofitable. Nyrstar, as part of its review, assessed the potential of producing antimony, a critical mineral, at its Port Pirie facility, but it would require government assistance to do so....