Asia

Investors dumped chipmakers over concerns about Chinese competition, and the funding of the AI boom. Meanwhile, rising odds?of an interest rate increase in the U.S. as soon as this week further dampened mood. Asian chipmakers were 'at the 'heart' of Tuesday's sale. South Korea's KOSPI plunged more than 10%, hitting a three-month high. This triggered a circuit breaker on its way down, as it headed for its biggest monthly drop on record, surpassing the declines experienced during the Asian Financial Crisis in 1997. The index's value had tripled over the past 12 months, but has lost more than a quarter...

Two industry sources confirmed on Tuesday that the?Tyumen?oil refinery in western Siberia stopped oil processing on 25 July following an attack by a Ukrainian drone. The domestic fuel market has been experiencing a worsening shortage since May when Ukraine intensified its attacks on oil refineries to undermine Russia's military efforts. Local Russian authorities said on Saturday that an 'Ukrainian drone attack' sparked the fire at a refinery located more than 2,000 kilometers (1,200 miles), from Ukraine. Sources said that following the attack, a diesel hydrotreater as well as a unit for producing high-octane gas caught fire. The sources declined to...

The chip stocks in Asia fell on Tuesday due to fears about the AI boom and Chinese competition. Oil prices also dropped, but this did not calm nerves over possible rate hikes by the U.S. as early as this week. South Korea's KOSPI plunged almost 10% to a three-month-low, triggering circuit breakers on its way down. It is now heading for its biggest monthly drop since the Asian Financial Crisis in 1997. The index has lost more than a quarter of its value in the past year. Shares of SK Hynix, Samsung Electronics, and other companies that are facing extra...

Tom Westbrook gives us a look at what the future holds for European and global markets. Chip stocks in Asia fell on Tuesday due to the twin threats of Chinese competition rising and questions over funding and sustainability of AI infrastructure boom. South Korea's KOSPI fell nearly 10%, tripping a circuit breaker. Japan's Nikkei dropped 4.4%. The rally has been so strong that both markets are still the leaders for the year, even though they have now reached multi-month lows. Nvidia fell 5% Monday after a Wall Street Journal article reported that the chipmaker had been in discussions to provide...

Prices of copper rose on Monday as oil prices dropped after the U.S. & Iran ended hostilities. This eased 'concerns over price pressures and global economic growth. Benchmark copper on the London Metal Exchange was up 0.9% at $13,770 per metric ton of official rings. The Pentagon suspended its campaign against Iran on Friday after 13 nights of increasing airstrikes by the United States. Iran has been holding fire for the past two days after it had responded to each night's U.S. airstrikes with its own strikes on neighbouring countries which host U.S. base. The oil prices fell as the...

The stock and bond markets around the world staged a relief rally Monday, as easing Middle East conflict sent oil prices down and eased inflation concerns ahead of an upcoming week packed with central bank meetings and earnings announcements. U.S. president?Donald?Trump has halted the two-week long bombing campaign that was launched against Iran. According to reports, U.S. officials were concerned about the depletion in air defence weapons. Iran has said that it will halt its attacks as long as U.S. officials continue to fire. Brent crude fell 7.8% to $89.41 per barrel during the lull of fighting in the Strait...

As tensions in the Middle East eased, oil prices fell sharply and inflation fears were reduced. This was ahead of a busy week of central bank meetings and earnings reports. Iran announced on Sunday that it would cease?its? own attacks if the United States also did so. The U.S. Military was reportedly worried about the dwindling supply of ammunition. Brent crude fell 6.3% to $90.70 a barrel during the lull of fighting in the Strait of Hormuz, while U.S. Crude dropped 5.7% to $74.12. On Monday, stock markets around the world staged a relief rally after fighting in the Middle...

Prices of copper rose on Monday as oil prices fell following the U.S.-Iran pause in their two-week long conflict, which eased concerns about inflationary risks for?global growth. The benchmark three-month 'copper' on the London Metal Exchange gained 0.32% to $13,688.5 per metric tonne by 0700 GMT. The Shanghai Futures Exchange's most traded copper contract was up 0.31% to 105,050 Yuan ($15.523.64) per metric ton. The U.S. announced that it was halting its airstrikes against Iran after 13 nights of attacks. Tehran also said it would cease its attacks. Brent crude dropped more than 6% on Monday, after reaching $100 per...

As a result of the pause in fighting that occurred in the Gulf, oil prices fell. This lowered inflation risks as well as helped boost bonds before a week packed with central bank meetings and reports on earnings. Iran announced on Sunday that it would cease its attacks as long as the United States followed suit. The U.S. Military was reportedly worried about the dwindling supply of ammunition. Yemen's Houthis, who are aligned with Iran, have still continued to attack Saudi oil installations on the Red Sea Coast, a threat to another vital waterway for the global oil trade. Sally...

Wayne Cole gives us a look at what the future holds for European and global markets. The Gulf has settled into a fragile truce as the U.S. military halted its attacks in part due to concerns that it was running low on ammunition. Iran also said that it would hold off until the U.S. Hold off. Investors have viewed the Houthis' attack on Saudi Arabian oil facilities as a de-escalation step and have pushed Brent down 4%, to $92.80. The $100 mark seems to be where the U.S. blinks. Oil needs to remain close to this level to keep both...

Prices of copper rose on Monday as a result of a tentative?halt to fighting between the U.S.A. and Iran, and relief in the oil market. Benchmark three-month Copper on the London Metal Exchange gained 0.26% to $13,681 per metric ton at 0300 GMT. The most traded copper contract at the Shanghai Futures Exchange rose 0.27% to 105,010 Yuan ($15.515.43) per metric ton. After 13 nights of airstrikes, the U.S. announced that it was stopping its attacks on Iran. Tehran also said that it would cease its retaliatory strikes. Oil prices were able to recover a little from the?tentative ceasefire. Brent...

The Australian and New Zealand dollar strengthened on Monday, as hopes for a diplomatic resolution to the Middle East conflict sent oil price?lower. This eased inflation concerns and helped boost global bond markets. The Aussie gained 0.2%, to $0.7001, following a 0.3% gain on Friday. It is little changed from last week. The Aussie has moved away from its three-month-low of $0.6867. Resistance is seen at the one month peak of $0.7026. New Zealand's dollar rose 0.2%, to $0.5798, after finishing last week down by 1%. This was primarily due to losses against the Australian dollar. The 200-day moving median...

The major Gulf stock markets fell in early trading on Tuesday as investors awaited U.S. Federal Reserve policy decisions and developments in the Iran Conflict, although ongoing corporate earnings provided some support. The majority of Gulf?Cooperation Council nations,?including?UAE?, have their currencies pegged against the U.S. Dollar and closely follow the Fed?s policy, exposing them to the direct effect of monetary tightening on the world?s largest economy. The Fed ends its two-day session on Wednesday. CME FedWatch?shows that 62% of policymakers are likely to keep rates the same, and 38% are expecting a minimum 25-basis point increase. This is up from...

The copper price fell on Tuesday as investors assessed a possible pause in the 'U.S. Strikes?on Iran. By 0700 GMT, the benchmark three-month price of copper at the London Metal Exchange had fallen by 0.4% to $13,678 per metric tonne. The Shanghai Futures Exchange's most traded copper contract fell 0.13% to 104,810 Yuan ($15.487.03) per ton. The market awaits the outcome of the U.S. Federal Reserve's meeting on Wednesday and weighs the impact that a reduction in oil prices will have after the lull between U.S.-Iran fighting. Analysts from Chinese broker Galaxy Futures stated that "as tensions between the United...

South Korean shares fell nearly 11% in their 'worst session for about five months' on Tuesday, as a global chipmaker selloff?hammered SK Hynix, Samsung Electronics and CXMT, while CXMT’s stellar debut in the market heightened concerns about Chinese competition. The benchmark KOSPI fell 732.09 or 10.84% to 6,023.66, its largest daily loss since the 4th of March, when the index experienced a record drop following the outbreak of the Iran War. The price fell by as much as 11.3% in one day and triggered a circuit breaker, the 14th time in history. The price also fell below 6,000 for the...

The copper prices fell on Tuesday as 'lingering bets on an interest rate increase in the U.S. threatened to dampen demand. Crude oil prices also declined as investors assessed a pause in U.S. attacks on 'Iran. By 0300 GMT, the benchmark three-month metric ton of?copper traded on London Metal Exchange had fallen 0.5% to $13,664 per metric tonne. The Shanghai Futures Exchange's most traded copper contract fell 0.14% to 104,800 Yuan ($15.484.86) per ton. The market is waiting for the U.S. Federal Reserve's meeting on Wednesday and the effect of a possible lull in the fighting between Iran and the...

South Korean shares fell 'on Tuesday, as a global sale of chipmakers weighed down on technology heavyweights. Pressured 'by concerns about a 'intensifying competitive environment - from China - and a steep drop in SK Hynix shares listed in the U.S. The benchmark KOSPI fell 500.47 points or 7.41% to 6,253.81, prompting "sidecar" trading restrictions on both the KOSPI index and junior Kosdaq, temporarily suspending programme trading. Memory-chip manufacturer SK Hynix fell 10% after 'its American Depositary Receipts (ADRs), which were issued in the United States, dropped to a new record low and below their original U.S. offering prices. Samsung...

Indonesia's Presidential?staff Office has called for a?cooperation among government agencies, law-enforcement officials and the?industry? to resolve a regulatory void that has reportedly delayed exports of nickel and alumina products due to their rare-earth contents. Indonesia is one of the world's largest exporters of minerals, but it produces rare earths only as a minor by-product. No rules have been established yet to govern how much of these elements can be added to shipments of other mineral. Officials stated that exporters faced delays in their shipments on Monday due to the lack of clear regulations. Dudung Abdurachman, the Chief of Staff to...

Data?from Hong Kong’s Census and Statistics Department revealed?on a Monday that China’s net gold imports through Hong 'Kong had more than doubled in the past year, but dropped over 5% compared to last month. Data showed that the?world's largest gold consumer imported 50.679 tons of gold through Hong Kong via Hong Kong, compared to 53.674 tons from May and 19 366 tons by June 2025. Hong Kong data may not be a complete view of Chinese gold purchases because it is also imported via Shanghai and Beijing. China's total imports of gold via Hong Kong reached 78.147 tonnes in June,...

Prices of copper rose on Monday as oil prices dropped after the U.S. & Iran suspended their 'hostilities', alleviating concerns over price pressures and global growth. Benchmark 'copper' on the London Metal Exchange rose 0.32% to $13,688.5 per metric ton by 0700 GMT. The Pentagon suspended its campaign against Iran on Friday after 13 nights of increasing airstrikes by the United States. Iran has been holding a 'fire' for two days after it had responded to each night’s U.S. airstrikes with its own attacks on countries in the region that house U.S. bases. The oil prices fell as the ceasefire...

Iron ore prices fell on Monday as a result of a seasonal decline in demand for the commodity and shrinking steel margins. This was despite hopes that Beijing would announce stimulus measures later this week to boost the economy. The daytime trading price of the most traded iron ore contract at China's Dalian Commodity Exchange was 741 yuan (109.50 dollars) per metric ton. As of 0800 GMT, the benchmark August iron ore price on Singapore Exchange was $97.6 per ton - a 0.56% decrease. After steel demand slowed down and margins shrank sharply, several Chinese steelmakers started equipment maintenance. The...

Two bankers familiar with the matter said on Monday that India's UltraTech Cement was in discussions?with merchant banks and arrangers about raising?its largest rupee bond funding. It is looking to tap the debt markets before the central bank makes its policy decision next Thursday. Sources who requested anonymity because the talks were still private said that the country's biggest cement producer by production capacity planned to raise 50 billion rupees (517.80 million dollars) in bonds with maturities of two-and a half years, three and a half years, and five years. The target is?15 billion each for the two shorter tranches,...

Gold prices climbed on Friday as oil prices fell, and investors watched developments in the Middle East to get a better idea of inflationary risks fueled by energy, as well the outlook for U.S. rates. Spot gold increased 0.4%, to $4.061.36 an ounce, by 1115 GMT after falling 0.6% earlier. U.S. gold futures for delivery in August gained 0.3%, to $4.063.60. The gold price has moved from a negative to a slightly positive territory, driven by the lower oil prices. This reduces pressure on Fed to adjust rates, said UBS analyst Giovanni Staunovo. He added, "Our view is that the...

You wouldn't guess it by the price of aluminium. Two damaged Gulf smelters, and the resulting?logistical constraints at other smelters have already created a 2 million metric ton gap in the global supply chains. After surging to a 4-year high of $3,787.50 per tonne in early June, London Metal Exchange's (LME) 3-month aluminium now trades around $3,170 a tonne, exactly where it traded before the United States launched its "Operation?Fury", a joint strike with Israel against Iran, on February 28. Where did the war premium end up? Is the market right in being so'relaxed' about?the unprecedented shortage of a metal...