Asia / Pacific

Japan's Nikkei fell on Friday, wiping away this week's gains despite an otherwise positive Asian performance. Investors are waiting for the U.S. Inflation reading which could influence a deeply divided Federal Reserve. The European stock market was headed for a flat opening, as both EURO STOXX futures and FTSE Futures were little changed. Nasdaq Futures rose by 0.4%, and S&P500 Futures rose by 0.2%. In Asia, Nikkei fell by 1.3% as weaker than expected household spending data highlighted the inflation problem. Bets on a rate increase later in the month also grew. The week was expected to be mostly flat....

Kevin Buckland gives us a look at what the future holds for European and global markets. The market is focused on the bets that the Federal Reserve will cut rates next week, and the murkiness in the economic data used by Fed officials to make policy decisions. The Fed is focusing on the state of the labour markets, so the Fed will release the most important data - the monthly payroll figures - in mid-December instead of today. This is the result of a record-breaking government shutdown. But at least the Fed will get key data pertaining to the other...

A survey on Thursday found that OPEC oil production fell in November despite an OPEC+ deal to increase production in the month due to unavailability in some members. This brought the supply of the group even further below their target. According to the survey, the Organization of the Petroleum Exporting Countries (OPEC) pumped 28,40 million barrels of oil per day in October, a decrease of 30,000 barrels per days from the total for October. Nigeria and Iraq recorded the largest declines. OPEC+ - a grouping of OPEC, Russia and its allies - has slowed down the rate of monthly production...

Three sources say that Indian firms will sign a joint venture agreement with Uralchem, Russia's largest potash and ammonium-nitrate producer during the visit of President Vladimir Putin to New Delhi on Friday to build a urea factory in Russia. Sources said that the project, which aims to strengthen India's fertiliser security over the long term, will see India Potash Ltd and Rashtriya Chemicals and Fertilisers Ltd holding each a 22,5% stake in a joint venture. National Fertilizers Ltd. will own a 5% share, while Uralchem holds the remainder and will lead the project. India, Asia’s third largest economy, depends heavily...

The dollar dropped for the tenth consecutive day against a basket, extending its longest losing streak since over 50 years. After an auction, Japanese stocks rose sharply. Government Bonds Investors showed a strong interest in the stock, setting the tone for the entire equity market. STOXX 600 in Europe was up by 0.1%, and is still on track for a modest gain each week. U.S. Stock Futures were flat for the day. This suggests a steady trading start later in the session. Wall Street stocks rallied Wednesday, led by small cap companies. The Russell 2000 index rose 1.9% while the...

Japanese stocks led gains on Asian markets Thursday, as investors bid heavily for government bonds at an auction. Meanwhile, the U.S. Dollar recovered from its five-week low. The Nikkei rose by 2.2%, led largely by the industrial robot maker Fanuc Corp. MSCI's broadest Asia-Pacific index outside Japan traded flat due to declines in Korea, New Zealand and Australia. Early European trading saw pan-regional futures up 0.6%. German DAX Futures also rose 0.6%. FTSE Futures increased 0.31%. Tokyo's most recent debt sale attracted the highest demand in over six years. This helped calm investor nerves following a selloff which pushed yields...

Rae Wee gives us a look at what the European and global markets will be like tomorrow. In the last month, there have been several instances where a rally in the market was suddenly halted due to sudden risk aversion. Sometimes this happened without any obvious cause. Shortly afterward, an upswing followed. Wednesday was another example of this. After a Monday drubbing, global stocks rose and bitcoin reclaimed its $90,000. It was at its highest level in almost two weeks. The European markets were also poised for a steady opening, as investors waited for the remarks of European Central Bank...

A survey released on Wednesday showed that Saudi Arabia's private non-oil sector expanded at the fastest rate in ten months in November. This was driven by robust hiring and increased demand, but new orders grew slower than in previous months. The seasonally-adjusted Riyad Bank Saudi Arabia Purchasing managers' Index fell to 58.5 from 60.2 in Oct., but remained above 50, indicating strong activity growth. The output subindex rose to 63.7, its highest level since January. New orders also continued to increase, although at a slower rate than the October peak. Domestic demand was particularly strong. In November, the subindex for...

Saudi Arabia, which is the top oil exporter in the world, approved its budget 2026 on February 2. It forecasts a deficit next year of 165 billion Riyals, and deficits until 2028, as it prioritizes its spending to meet Vision 2030 goals. Here are some comments on the budget from Saudi officials, analysts and economists: SPA, the state news agency, quotes MOHAMED BIN SALMAN as CROWN PRINCE and Prime Minister: The 2026 budget confirms that the government is determined to improve the resilience and flexibility in the local economy. This will contribute to its sustainable development and enable it to...

The Russian President Vladimir Putin begins a two-day trip to India on Thursday. He will be promoting more Russian oil sales, missile systems, and fighter jets to restore the energy and defence links that have been damaged by U.S. sanctions against India. Russia has been supplying arms to India since the 1960s. New Delhi is now its largest buyer of oil by sea despite Western sanctions imposed after Moscow invaded Ukraine in February 2022. India's crude oil imports will hit a low of three years this month after Russia was sanctioned for its increasing purchases of U.S. gas and oil....

The oil price held steady in the early trading of Tuesday, as participants weighed up risks arising from Ukrainian drone attacks on Russian energy sites and mounting tensions between the United States and Venezuela. They also pondered mixed expectations regarding U.S. gasoline inventories. Brent crude futures increased 7 cents or 0.1% to $63.24 per barrel at 0427 GMT. U.S. West Texas Intermediate Crude gained 10 cents or 0.2% to $59.42 per barrel. Both benchmarks rose more than 1% Monday, with WTI near its two-week high. In a client note, Saxo analysts stated that oil held gains while traders awaited the...

El presidente de Venezuela, Nicolas Maduro, se esta quedando sin opciones para dimitir y abandonar su pais bajo la proteccion de Estados Unidos, tras una breve llamada el mes pasado con Donald Trump, en la que el presidente estadounidense rechazo una serie de solicitudes del lider venezolano, segun cuatro fuentes informadas sobre la conversacion. La llamada, realizada el 21 de noviembre, se produjo tras meses de creciente presion estadounidense sobre Venezuela, incluyendo ataques contra lanchas presuntamente usadas para narcotrafico en el Caribe, reiteradas amenazas de Trump de extender operaciones militares a tierra y la designacion del Cartel de los Soles,...

The head of the EU-funded agency that oversees key minerals says, "Europe has taken significant steps to develop its rare earths industry to counter Chinese dominance. But the region must also guard against being overtaken by the United States." Bernd Schaefer is the CEO of EIT RawMaterials. He welcomed Wednesday's publication of a new EU Action Plan to secure crucial raw materials used in electrical cars, wind turbines, and semiconductors. REsourceEU, the plan of the European Commission, includes an investment of 3 billion euros (3.49 billion dollars) in projects to accelerate them and reduce reliance on a single source. Schaefer...

The price of copper reached a new record on Friday, after Citi raised its outlook for the metal. A weaker dollar provided additional support in anticipation of a rate cut expected by the U.S. next week. At 1025 GMT, the benchmark three-month price of copper at the London Metal Exchange had risen 1.4% to $11,609.50 per ton. The metal, which is widely used in construction, manufacturing and power generation, rose earlier by as much as 2.2%, reaching a peak of $11,705. LME copper has gained over 30% since 2025 and is expected to finish the week with a gain of...

Boliden, the Swedish miner, said that the European Union had acted on rare earths ten years ago. Boliden was commenting on the European Commission plan to invest 3 billion euro ($3.5 billion) in 25 key mineral projects. China, the country that produces 90% of all rare earths in processed form, has recently increased export restrictions. Boliden CEO Mikael staffas said that Europe's inability to produce critical raw materials on its own is a vulnerability which must be addressed despite the long process of making major changes. He said the latest EU initiative was a sign the bloc of 27 countries...

BHP, a global miner, announced on Friday it had taken delivery of two electrical haul trucks for a trial to begin at its Jimblebar Iron Ore Mine in Australia's Pilbara. The truck trials are intended to reduce diesel consumption and greenhouse gas emission. BHP stated that the battery-electric trial, in partnership with Rio Tinto, and Caterpillar industrial equipment manufacturer, aims to test whether the technology can be used as an alternative for diesel in large-scale mining operations of iron ore. BHP stated that after the trial, miners will independently determine the progress they have made towards scaling up trials in...

Gold prices rose Friday as a result of a weaker dollar. Investors were awaiting U.S. inflation figures that could set the tone for next week's Federal Reserve interest rate policy meeting. As of 0717 GMT spot gold was up 0.5% at $4,227.35 an ounce. However, it was still on course for a weekly decline of 0.1%. U.S. Gold Futures for December Delivery edged up 0.4% to $4,257.90 an ounce. The dollar was slipping and not far off a five-week high against major counterparts. Kelvin Wong, senior market analyst at OANDA, noted that sellers have not been able to surpass the...

The Asian equity capital market will be boosted by a strong pipeline of high profile IPOs from companies in China and India that are looking to take advantage of the diversification trend among investors. However, concerns over rising tech valuations may slow down momentum. LSEG data shows that Asian equity capital markets (ECMs) have been awash with $267 billion in deals this year. This is up 15% on 2024 and the first annual increase since 2021. Data shows that Hong Kong, which is the preferred listing destination of Chinese companies, has dominated regional ECM transactions with 75 billion dollars raised...

Investors are awaiting important inflation data to get a sense of the Federal Reserve's direction ahead of the meeting next week. As of 0358 GMT, spot gold remained at $4208.46 an ounce and was on course for a weekly decline of 0.5%. U.S. Gold Futures for December Delivery fell 0.1% to $4.237.70 an ounce. The benchmark 10-year U.S. Treasury Yields were near their highest levels in over two weeks. Meanwhile, the dollar was not far off its five-week low compared to other major currencies, making gold attractive for overseas buyers. The market is waiting to see what the Fed will...

The price of copper reached a new record on Friday after Citi raised its outlook for the metal. Supply concerns and the expectation that the U.S. Federal Reserve will cut interest rates next week are driving the market. As of 0330 GMT the most active copper contract at the Shanghai Futures Exchange had risen 1.18%, to 91.860 yuan (12,992.56) a metric ton, after reaching an all-time peak of 92,000 dollars a ton during the session. Shanghai copper will end the week at a 5.3% higher price. The benchmark copper for three months on the London Metal Exchange gained 0.95%, to...

Gold prices remained largely unchanged Thursday as rising U.S. Treasury rates offset the support provided by a weaker US dollar. Meanwhile, markets were waiting for Friday's U.S. Inflation data to get clues about Federal Reserve policy ahead of their December meeting. By 1833 GMT, spot gold had risen 0.1% to $4210.49 an ounce. U.S. Gold Futures for February closed 0.2% higher, at $4243.00 per ounce. Edward Meir, Marex analyst, said: "Higher yields keep a little cap on gold's upside. The general dollar index provides some support." The benchmark 10-year U.S. Treasury rates rose while the U.S. Dollar Index hit a...

The Astana International Trade website reported that Kazakhstan's steelmaker Qarmet had placed bonds for seven years worth $500 million at a coupon of 10.2%. The company has issued 5 million bonds at a par of $100. This is the second issue of this kind since it placed $500 million in bonds priced at 11% annually back in September. Trading will start on December 5. Qarmet will use $150 million for refinancing existing loans, and $350 millions to finance investment projects. This includes reimbursement of capital expenditures and refinancing debts. Qarmet, owned by ArcelorMittal until 2023, was sold to Qazaqstan Investment...

Gold prices fell on Thursday, as investors focused on the Federal Reserve meeting next week and U.S. economic data that could influence interest rate outlooks. As of 1252 GMT, spot gold was down 0.4% at $4,191.26 an ounce. U.S. Gold Futures for February Delivery were down 0.3% to $4,221 an ounce. Gold bulls are on the sidelines awaiting tomorrow's PCE figures. "This, along with a rise in risk appetite on equity markets, limits the upside of gold prices," ActivTrades Analyst Ricardo Evangelista stated. Global shares rose on Thursday as investors hoped that the U.S. will cut rates next week to...

Gold prices fell on Thursday, as investors took profits and became cautious in advance of the U.S. Federal Reserve's meeting next week. They are awaiting data to get a better idea about interest rates. As of 0617 GMT, spot gold was down 0.5% to $4,179.71 an ounce. U.S. Gold Futures for December Delivery were down 0.5% to $4,210.20 an ounce. Soni Kumari, ANZ's commodity strategist, said that "with investors a little cautious ahead of the FOMC meeting (Federal Open Market Committee), the market is pricing in a Fed cut by 25 basis point... The market now needs a new trigger...