Asia / Pacific

The Gulf peace may reduce pump prices but it won't solve the Federal Reserve’s biggest problem. That is, a U.S. Economy that was already overheating prior to the Iran War. Oil prices falling to levels seen before the war could spur demand and increase cost of living fears at a crucial time. This sounds like "damned-if-it does, damned-if-it doesn't" dilemma. Normalizing fuel prices may not solve the Fed's dilemma over inflation and interest rates as quickly as President Donald Trump or the Fed would like. The 'inflation debate' before the conflict was ambiguous, as markets sided with the Fed's guidance...

These are the most popular?stories from the Wall Street Journal. The Wall Street Journal has not verified these stories and cannot vouch for their accuracy. Donald Trump has ordered the Department of Justice (DOJ) to investigate oil companies that have not reduced gasoline prices in line with the falling crude cost, accusing them of "gouging". The Pentagon has awarded Lockheed Martin a contract for up to 35 billion dollars worth of Thaad interceptors?to replenish U.S. stocks after the 'Iran War. SK Hynix, a memory-chip giant, plans to raise more than $29 billion via a Nasdaq IPO to fund its expansion...

U.S. Secretary Marco Rubio met with the leaders of the United Arab Emirates (UAE) and Kuwait (Kuwait) on Wednesday. He pledged not to undermine the security of these Gulf allies, as he tried to reassure Gulf Allies sceptical about a 'proposed deal' to end the U.S. - Israeli war against Iran. The U.S. and Iran?accord signed last week is the first between American and Iranian Presidents since the?1979 Islamic Revolution. It includes a $300 billion fund proposal and the lifting of certain sanctions against Tehran. Rubio, who arrived in Abu Dhabi, the capital of the UAE late Tuesday night for...

SK Hynix, a South Korean company, said it planned to?raise up to $29.4billion through a U.S. -stock market listing. This would be one of the largest?listings globally. If completed at the top end, the deal would be the second-biggest share sale after a record $85.7 billion initial public offering by SpaceX earlier this month, surpassing Saudi Aramco's $25.6 billion IPO in 2019and Alibaba'ssimilar-sized offering in 2014. The planned listing reflects a strong global appetite for AI linked equities even as volatility rises across U.S. technology and semiconductor markets. This comes after Elon Musk's SpaceX and other record-breaking equity offerings in...

SK Hynix, a South Korean company, said it plans to raise as much as 45.45 trillion won ($29.43billion) through a U.S. IPO. The company is aiming to increase its 'investor base' and 'production capacity for artificial intelligence chips. The listing of American depositary receipts, if completed to the top, would be one of the largest ever in history. It is comparable in size with Saudi Aramco’s IPO scheduled for?2019. Investor and analyst reactions to the latest news: CLSA SENIOR ANALYST SANJEEV RANA "If (SK Hynix can) get a valuation multiple that is similar to Micron for example, the local shares...

India, the world's largest thermal coal importer, is reducing the cost of overseas purchases by increasing the percentage of domestic fuel used in power plants that run on imported coal. They said that the South Asian nation has already used domestic coal to operate 5.7 gigawatts of its total 18.7 GW capacity in imported coal-based plants this year. The switch is being expanded to 4.3 GW. Import-based plants previously used coal from Indonesia and South Africa, as well as Russia. Data from Indian coal trader iEnergy Natural Resources show that imports from Indonesia and South Africa dropped by 21% and...

The Republican-majority U.S. Senate passed legislation Tuesday that would halt U.S. military action against Iran. However, it is not clear what impact it will have on the war while President Donald Trump's Administration negotiates a deal with the Islamic Republic. The Senate voted in favor of a concurrent resolution that was passed by the House of Representatives earlier this month. This reflects a growing concern among Trump's Republicans over the unpopular conflict which began on February 28, despite the majority of Republicans voting for it. Four 'Republicans joined all Democrats except one in voting for the resolution. ?Two Republicans did...

Mark Lashier, CEO of Phillips 66 in the U.S., said 'on Tuesday that it will take some time for crude supplies to pass through the Strait of Hormuz.' This is because there remains uncertainty about a return to normal shipping activity. The Strait of Hormuz continues to be used on a limited scale, which eases immediate concerns about supply and lowers crude prices. Energy companies monitor how quickly crude flow, inventories, and shipping activity returns to normal. Lashier, speaking at a JPMorgan Conference, said that between 90 and 100 million barrels of crude oil remain trapped in this strait. They...

Under the interim agreement to end the war with Iran, the U.S. began lifting some sanctions. However, it will be difficult for any comprehensive agreement to unravel the tangled webs of restrictions that restrict the country's trade and activities. It is for this reason that any attempt to lift the sanctions against Iran may take many years, and foreign investment could be slow to return. WHEN WILL THE SANCTIONS AGAINST IRAN BE RELEASED? Since decades, the U.S. has imposed sanctions, trade 'embargos' and asset freezings on Iran over its nuclear program, human rights record, and support of groups in the...

The U.S. Treasury Department approved the production, sale and delivery of Iranian oil on Monday. This was a promise made by Washington and Tehran in an agreement last week. The general license announced by the two sides as they continue their talks to reach a final agreement on peace allows for the production, sale and delivery of crude oil, petrochemicals and petroleum products with Iranian origin through August 21. In a recent post on X, Treasury Secretary Scott Bessent stated that Iran had 'committed' to allowing free and open passage through the Strait of Hormuz as well as allowing?International Atomic...

Gazprom shares fell below 100 roubles ($1.35) for the first time since 2009 on Monday, according to data from the Moscow Exchange. Gazprom shares have been hit by a number of factors, including Europe's decision not to buy Russian energy due to the conflict in Ukraine, the decline in oil prices as a result of progress made between the United States, Iran and the United Nations, as well as the failure to sign a new deal for gas with China. Analysts claim that the 'drone attack' on an oil refinery in Moscow, owned by Gazprom neft (the oil arm of...

STOCKS: The benchmark BSE Senex added 0.38% to 77 094.07, while the broader NSE Index rose 0.37%?to?24,102.90. Reliance Industries led this rise,?following?its annual meeting, and a rebound of IT stocks. Meanwhile, improved sentiments from Middle East Peace Talks and lower oil prices helped to support broader risk appetite. RUPEE: The Indian rupee fell 0.38% against the?U.S. The dollar dropped to 94.6775 on Monday and ended a six-day run of gains. GOVERNMENT BONDS The benchmark 10-year bonds were quoted at 100.6475 Rupees with the yield remaining largely unchanged at 6.8473%. Traders were cautious due to the lingering U.S. Iran truce risk...

Gold prices are steady?on Friday?but remain near the seven-month low reached in the previous session as the expectation of interest rate increases in the U.S. weighs on the precious metal. As of 0843 GMT, spot gold remained at $3,999.33 an ounce. U.S. gold futures for August delivery slipped 0.2% to $4,014.90/oz. CME FedWatch data showed that the markets currently believe there is a 66% probability?that rates will be raised by the U.S. Federal Reserve in September. Nikos Tzabouras is a senior market analyst at Jefferies' Tradu.com. ETF outflows and the rotation to equities fueled by the AI boom, are factors...

Chinese coking 'prices' pared gains earlier to trade lower?Thursday, as concerns about demand prospects for steelmaking ingredients were fueled by a slump in steel consumption. Data from the consultancy Mysteel revealed that apparent consumption of five major steel products sank 6.5% on a week-on week basis as of Thursday. This compares to a gain of 3.1% during the previous week. Steel prices and feedstocks were under pressure due to the deteriorating market sentiment. The Dalian Commodity Exchange's (DCE) most traded coking coal contract closed the daytime trading 0.88% lower, at 1,238.5 Yuan ($181.99) a metric ton. The most actively traded...

Aluminum prices fell on Thursday as the Middle East war-risk premium faded, as the fragile peace in?region continued to hold. The Shanghai Futures Exchange's most traded aluminium contract fell 2.75% to?22.825 yuan (3,354.55) per ton after?falling?to an earlier 2026 record low price of 22.665 yuan per ton. The benchmark three-month aluminum on the London Metal Exchange was up 0.13% to $3,126.5 per metric ton at 0339 GMT. This marks an 8% decline since the beginning of the week. As ships passed through the Strait of Hormuz, prices for the light metal fell this week. A fragile peace seemed to hold....

Two merchant bankers confirmed on Thursday that Vedanta's wholly owned subsidiary is returning to the dollar bond market in nine months with a three tranche issuance. The issuance will primarily be used to fund Vedanta's buyback of high yielding notes. The bankers said that Vedanta Resource Finance II will raise money through bonds with a coupon of 7.25, 7.6250%, and 8.0%. The company didn't respond to an email asking for comment. They asked to remain anonymous because they aren't authorised to talk to the media. The bonds will be guaranteed by the parent company as well as its subsidiaries Twin...

The price of aluminium fell to pre-Iran war levels on Wednesday as the U.S. Dollar strengthened and the Middle East Risk Premium continued to decline. This outweighed any signs of disagreement between Washington and Tehran regarding key terms of a peace agreement. Benchmark three-month aluminum on the London Metal Exchange fell 3.3% to $3,124 per metric ton at 1601 GMT. It had earlier fallen as low as $3,110 and was below the support of the 200 day moving average, which is around $3142. The price of'metal for construction, packaging, and transport has fallen 18% after the Iran War caused Gulf...

On Wednesday, spot gold prices fell below the psychologically important?level? of $4,000 an ounce for the first time since 2025. This was due to a stronger U.S. dollar and growing expectations that interest rates would remain high. Dollar-priced gold is now more expensive to holders of other currencies. After the U.S. Central Bank struck a hawkish tone at its most recent policy meeting, traders have increased their bets that interest rates will rise in the U.S. this year. They also continue to worry about inflationary pressures due to the Iran War. Tai Wong, an independently-owned metals trader said that the...

Lingyi iTech, a Chinese company, priced its Hong Kong IPO at HK$10.18 ($1.06bn), allowing it to raise HK$8.3bn ($1.06bn), which will be used in part to expand its AI capabilities. Apple's supplier is aiming to capitalize on the rising demand for AI computing and advanced equipment. In its prospectus, it stated that approximately 37.6%, or about HK$3,07 billion, of the IPO proceeds would be used to upgrade core manufacturing processes and increase production capacity. The next three years will see a total of?HK$1,71 billion invested in the manufacturing of high-density AI server, humanoid robotic hardware and AI optical communications infrastructure....

The European Commission announced on Wednesday a series of'measures' to help Europol, the EU law enforcement agency, respond more quickly and effectively to cross-border crime. Europol warned in 2017 that organized crime groups were using AI scams to target their victims. Many governments continue to make it a priority to combat smuggler gangs who illegally transport migrants across Europe. * The Commission stated that 'Europol will create a?shared data space? and a sovereign cloud to enable investigators to more easily collaborate on joint cases. The Commission announced that the agency would also open support offices in EU member states, which...

China announced Wednesday plans to create a 'whistleblower hotline' that will encourage citizens to report the smuggling?of restricted?critical minerals. Beijing is continuing its crackdown against a sector which has given it so much diplomatic leverage. The Ministry of Commerce will reward organisations and individuals who report violations of export controls, such as transshipment. Callers must call during normal business hours. The hotline is closed for 2.5 hours over lunch. You can also submit information?via a?form online. China processed the majority of rare earths in the world and used its production control to great diplomatic advantage during the U.S. trade war....

Investors weighed conflicting signals about U.S. peace talks with Iran as they assessed the varying signals from U.S. and Iran. Gold spot fell 0.7%, to $4,081.24 an ounce, at 0751 GMT. It had earlier fallen to its lowest level since June 11. U.S. Gold Futures for August Delivery declined by 1.2% to $4.098.70. Donald Trump, the U.S. president, said on Tuesday that Iran agreed to nuclear inspections in "infinity" while Tehran claimed it had not made such a concession during negotiations. This raises questions about whether their fragile peace agreement will survive. Both sides disagreed over the details of a...

Iron ore prices rebounded on Wednesday after hitting multi-month lows the day before. This was aided by traders who bought dips and covered shorts as demand for iron ore in China, the top consumer of the commodity, remains resilient. After touching a low of 11 months on Tuesday, the most-traded contract for iron ore on China's Dalian Commodity Exchange closed daytime trading up 0.74% to 744 yuan (109.35 dollars) per metric ton. As of 0805 GMT the benchmark July 'iron ore' on the Singapore Exchange had risen by 0.84% to $98.25 per ton after Tuesday's near four-month low. In anticipation...

Investors weighed conflicting signals about the U.S. - Iran peace talks as they assessed rising bets that U.S. interest rates would rise. Gold spot fell 0.5% at 0609 GMT to $4,088.97 an ounce, after hitting its lowest level since June 11. U.S. gold for August delivery fell 1% to $4106.30. Donald Trump, the U.S. president, said on Tuesday that Iran agreed to nuclear inspections indefinitely. However Tehran claimed it had not made any such concessions during negotiations. This raises questions about their fragile peace agreement. Both sides disagreed on the specifics of a provision which would give Iran access to...