Asia

The?Italian?government and Pirelli, the?tiremaker, are looking at new ways to stop Sinochem from investing in the?company based in Milan. This is due to pressure coming from?the United States. The Financial Times reported Tuesday that the United States was exerting pressure on Pirelli. Camfina, Pirelli's Italian-American investor, had complained earlier that Sinochem was preventing the tyremaker from expanding in the U.S. as Washington tightens restrictions on Chinese technology for the automotive industry. According to LSEG 'data, Sinochem is Pirelli’s?largest shareholder with a stake in the company of approximately 34.1%. Rome is considering a new intervention, as Washington's upcoming ban on Chinese-backed...

The Dow Jones Industrial Average reached a new high on Tuesday as oil companies and financials gained. The U.S. oil industry got a boost after the military raid that took place in the U.S. over the weekend, which captured Venezuelan president Nicolas Maduro. Crude oil fell back $1 per barrel after it rose overnight as traders assessed possible impacts on crude oil flows from Venezuela. Venezuela is home to the largest oil reserves in the world. The events have had a limited impact on the risk sentiment. Equities are driven by momentum, while currencies are based on macroeconomic data. The...

Indian shares dropped on Tuesday. The 'heavyweight stocks HDFC Bank, and Reliance Industries were the main culprits. This was a day after the?Nifty 50 index retreated to record highs. The Sensex fell 0.21% as of 9:54 a.m. IST, and the?Nifty50 dropped 0.1% to 26231.40. Seven out of 16 major sectors fell. The small- and mid-caps both rose by 0.2% and 0.1% respectively. HDFC Bank, Reliance Industries and other major stocks in the benchmark indexes fell 1.6% and 3.3% respectively. Reliance denied a Bloomberg report that three vessels carrying Russian crude oil were heading to its Jamnagar refining facility. Reliance's move...

India's equity benchmarks started Tuesday slightly lower, led by HDFC Bank and Reliance Industries, as investors booked profits near record highs. However, optimism about an earnings improvement before the results season persisted. The Nifty 50 dropped 0.23% to 26189.7. As of 9:15 a.m. IST, the Sensex was trading 0.13% lower at 85,331.14. The gains in nine of the 16 major sectors were marginal. The small-caps, mid-caps, and broader indexes all rose by 0.4% and 0.1% respectively. HDFC Bank and Reliance Industries - the two heaviest stocks on the benchmark index - each lost 2%. The Nifty 50 reached a record...

Oil prices fell on Monday, as global supplies were plentiful and offset concerns about the impact of U.S. capture President Nicolas Maduro in Venezuela, the country with the largest global oil reserves. Brent crude futures fell 23 cents or 0.4% to $60.52 a barrel at 0940 GMT. U.S. West Texas Intermediate was 21 cents or 0.4% lower at $57.11 a 'barrel. Investors reacted to the Venezuela situation, an OPEC country whose crude exports have been subject to a U.S. ban, and assessed its potential impact on the oil supply. Donald Trump, the U.S. president, said that Washington would take over...

Saudi Arabia's private non-oil business sector was still growing in December, even though the pace of growth slowed to its lowest level in four months and new orders continued to slacken, according to a Monday survey. The Riyad Bank Saudi Arabia Purchasing Managers' Index fell from 58.5 to 57.4 (seasonally adjusted) in December, indicating a second consecutive month of a slowdown in growth. Despite the slowdown in growth, the headline PMI was still slightly higher than its long-term average of 56.9. The PMI readings that are above 50.0 show growth, while those that are below indicate contraction. The output levels...

United Arab Emirates (UAE) said that it was deeply concerned about the ongoing escalation of violence in Yemen, after Saudi-backed forces invaded areas captured?last week by UAE-backed separatists from the south seeking independence. Rapidly moving Crisis in Yemen Has opened a? major ?feud Between the two Gulf Powers and the Coalition of Forces The Houthi movement, backed by Iran, is being fought by a government that has been internationally recognized. In a statement, the UAE said Yemenis must exercise restraint in order to maintain security and stability. The announcement came just hours after the UAE-backed Southern Transitional Council announced that...

Data showed that the Middle East crude oil benchmark Dubai fell into a discount on Friday, for the first since December '2023. This was due to an excess of supply and low demand during 'the earliest day of trading for 2026. According to trade sources, the Dubai cash price for a barrel was $60.30, or a 13-cent discount to Dubai swaps. There were only two partials of March loading during the S&P Markets On Close price?assessment. Sources said that the immediate January-February Dubai crude price spread was converted into a contango on Friday of approximately 17-20 cents a barrel. In...

Indian Oil Corp bought its first Colombian crude oil as part of an 'optional supply agreement' with state oil company Ecopetrol. This was done to diversify away from Russian oil. Indian refiners have been searching for crude oil as the tighter sanctions imposed by the U.S. on Russian oil producers and vessels and those of the European Union are causing a disruption in Russian imports. India's Russian oil imports will plunge to a 3-year low of 1.2 million barrels per day in December. This is down from 1.84million bpd during November, according to Kpler, a ship tracking company. Sources said...

China must stabilize grain and edible oils production, improve 'grain varieties' and enhance quality. This was the message of state-run news agency Xinhua on Tuesday following a meeting of the annual Central Rural Work Conference held from December 29-30. The group that sets China's agricultural priority has pledged to "enhance capacity for diversified supply" and promote high-quality development through?zoned- and categorised-planning". China relies heavily on imports to feed the population. Tensions with U.S.A., its'major trading partner in agriculture, have led it to invest more in seed technology and machinery. A Xinhua report on the meeting stated that "we must not...

Industry sources have told? Industry sources told?Einen on Friday that Russia had almost doubled its exports of liquefied petroleum gas to ex-Soviet republics in Central Asia and Afghanistan from January to November. The total was 1.016 million metric tons. Moscow had to divert LPG supplies from Europe. Europe imposed restrictions on LPG imports from Russia after the war in Ukraine. LPG is used primarily as a fuel for cars and heating, but also to produce other petrochemicals. According to traders, the total LPG exports of Russia to Afghanistan and other countries in Central Asia, including Tajikistan, Kazakhstan, Kyrgyzstan and Uzbekistan,...

Ukraine has launched British Storm Shadow missiles as well as its own?domestically-produced long-range drones in order to target several Russian oil and?gas?facilities. Ukraine used British-made missiles in the past to strike Russian industrial targets, which it claims help Moscow's war. The Ukrainian General Staff stated that the air force had used Storm Shadow missiles to attack the Novoshakhtinsk refinery located in the Rostov Region of Russia. "Multiple explosions have been recorded." On Thursday, the General Staff announced on Telegram that the target was "hit". The refinery was said to be one of the largest oil suppliers in southern Russia, and...

Gold prices rose again?on Tuesday, reaching a new high. The dovish remarks?of?Federal Reserve officials increased interest rate-cutting bets while Venezuelan tensions also boosted safe-haven demand. As of 0534 GMT spot gold was up 0.5% to $4,469.96 an ounce after a nearly 3% rise in the previous session. Bullion reached a record-high of $4,549.71 in December and recorded its best performance since 1979 with a 64% jump last year. U.S. Gold Futures for February Delivery rose by?0.7%, to $4481.30. The Fed's comments certainly did not hurt, but the calculation doesn't seem to have changed that much. "We have a busy week...

Gold prices rose again?on Tuesday, reaching a new high. The dovish remarks?of?Federal Reserve officials increased interest rate-cutting bets while Venezuelan tensions also boosted safe-haven demand. As of 0328 GMT spot gold was up 0.4% to $4,465.32 an ounce after rising by nearly 3% the previous session. Bullion reached a record-high of $4,549.71 in December and recorded its best performance ever since 1979 with a 64% jump. U.S. Gold Futures for February Delivery edged up 0.3% to $4,465.70 per ounce on Tuesday. "The comments by Fed officials certainly didn't harm but it doesn’t seem like the calculus has changed that much."...

Gold reached a new high of one week on Monday after U.S. strikes against Venezuela boosted the appeal of bullion as a safe haven. Spot gold increased 2.7%, to $4444.52 per ounce at 1:38 pm. ET (1838 GMT) after hitting its highest level in December 29. Gold reached an all-time high of $4,499.71 on December 26, U.S. Gold Futures for February Delivery?Settled 2.8% Higher at $4,451.5 per ounce. Alexander Zumpfe is a precious metals dealer at Heraeus Metals Germany. He said that the situation in Venezuela has reactivated a safe-haven trend. The U.S. Federal Reserve and geopolitical events fueled a...

Gold reached a "one-week-high" on Monday after U.S. attacks in Venezuela increased the appeal of bullion as a safe haven. By 11:20 am, spot gold had risen 2.7% to $4.447.05 per ounce. ET (1620 GMT), having earlier reached its highest level in over a month. Gold reached an all-time high of $4,499.71 on December 26, U.S. Gold Futures for February Delivery gained 3%, to $4.457.4 per ounce. "The situation in Venezuela has clearly reactivated the safe-haven market, but it comes on top existing concerns about geopolitics and energy supply, as well as monetary policy," Alexander Zumpfe, precious metals trader with...

Prices of copper soared to record levels on Monday, as fears about supply?intensified after a strike in a Chilean mining facility and forecasts of deficits?as well as low stocks at London Metal Exchange-approved warehouses. The benchmark copper price on the London Metal Exchange rose 2.7% to $12,811 per metric tonne at 1138 GMT, from an earlier peak of $12,905.5. The metal used for power and construction reached a record price of $12,960 per ton. The theme of shortages was reinforced by traders after a strike took place at Capstone Copper’s Mantoverde gold and copper mine in northern Chile. Mantoverde is...

Gold prices surged to a?more? than 2% gain and an all-time high of one week on Monday as the?geopolitical?turmoil sparked by the U.S. arrest of Venezuelan president Nicolas Maduro caused a flight for safety. Gold spot rose 2.4%, to $4433.29 per ounce at 0942 GMT. This is its highest level since December 29. It had previously reached a record of $4,549.71 an ounce on December 26. U.S. Gold Futures for February Delivery gained 2.6%, to $4443.70?an ounce. The escalation between the U.S. and Venezuela over the weekend has benefited gold. The escalation has boosted demand for "the safe-haven metal" as...

China's Iron Ore Futures rose in the first trading session of the New Year on Monday. Strong?demand and supply constraints supported the rise. The May contract for iron ore on the Dalian Commodity Exchange gained 7.5 Yuan or 0.95% to 797 Yuan ($114.16). After the New Year's?holiday, Chinese markets resumed their trading. The benchmark iron ore contract for February on the Singapore Exchange rose 0.29% at $105.65 per ton by 0704 GMT. Steelmakers are restocking iron ore ahead of the Lunar New Year holiday, which is in February. Tight domestic supplies also support prices. According to a report from the?Shanghai...

Gold and other precious metals prices rose on Monday, following the capture of Venezuelan President Nicolas Maduro by the United States over the weekend, which exacerbated geopolitical tensions. Gold spot rose by 2.2% at 0742 GMT to $4,424.17 an ounce. This is a new weekly high. U.S. Gold Futures for Delivery in February rose 2.4% to $4434.20. Tim Waterer is the chief market analyst at KCM Trade. He said that kidnapping a foreign leader of state leads to a high degree of uncertainty. Gold and silver are seen as a good hedge against this. The U.S. captured Maduro on?Saturday in...

Gold prices rose Monday, and other precious metals surged, after the United States captured Venezuelan president Nicolas Maduro?over the weekend. This heightened geopolitical tensions, and lifted safe-haven demands. Gold spot rose by 1.8% at 0508 GMT to $4,406.77 an ounce. This is a new weekly high. U.S. Gold Futures for Delivery in February rose 1.9% to $4413.40. Tim Waterer is the chief market analyst at KCM Trade. He said that Venezuela's events have reignited demand for safe-haven assets, including gold and silver, as investors seek to protect themselves against geopolitical risk. The U.S. captured Maduro on Saturday in the most...

Iron ore futures rose on Monday as the New Year began on a positive note. This was aided by?strong Chinese demand and ongoing supply restrictions. After the Chinese New Year holidays, the Shanghai Futures Exchange and the Dalian Commodity Exchange resumed trading after the New Year. As of 0243 GMT, the most-traded contract for May iron ore on?the DCE was trading 0.76% higher. It was 795.5 Yuan ($113.94). The benchmark iron ore contract for February?on Singapore Exchange increased 0.29% to $100.65 a ton. Steelmakers are restocking iron ore ahead of the Lunar New Year holiday in February. Tight domestic supplies...

Gold demand is high as geopolitical tensions and the expectation of U.S. interest rate cuts keeps precious metals on the rise. As of 12:24 pm, spot gold had increased 0.3%, to $4,328.49 an ounce. ET (17:24 GMT), having risen as high as $4402,06 earlier in session. Bullion reached a record-high of $4,549.71/oz in December?26 and registered a 64% increase in 2025. U.S. Gold Futures for February Delivery were unchanged at $4,339.60/oz. Bart Melek is global head of commodity strategies at TD Securities. He said: "We are continuing to hear the market talk about possible cuts in March, as well as...

After talks broke down between the main union and Capstone Copper over new labour contracts, hundreds of miner began a strike at the Mantoverde copper-and-gold?mine located in northern Chile. In a Friday statement, the Union No. In a statement released on Friday, the Union No. After failing to reach a deal late on Thursday, the union's 645 members went on strike at 8 a.m. local (1100 GMT). Negotiations broke down after the company refused to agree to the union’s?final requests, estimated at $500,000 per year, or 0.03% of the $1.4 billion projected revenue of the company. Chile is the largest...