Australia

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...

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...

The dollar fell as traders bet that the Federal Reserve would cut interest rates in the next month. Equity futures indicate a steady start to the S&P 500, and tech-heavy Nasdaq, despite a sway in Asian and European stocks after Nvidia reported its results. Nvidia shares fell around 1.5% during pre-market U.S. trading, as concerns over the company's China operations clouded an otherwise better-than expected revenue forecast for next quarter. Semiconductor shares in Europe fluctuated as investors analyzed the company's outlook, which also affected tech stocks in Asia. Taiwan Semiconductor Manufacturing Company shares fell 2.5%. Nvidia's forecast was higher than...

The Asian stock market experienced a volatile session Thursday, as concerns over the future of artificial intelligence leader Nvidia’s China business hit regional suppliers while sparking gains for its Chinese competitors. The MSCI broadest Asia-Pacific index outside Japan fluctuated between gains and losses. It was last down by 0.4% as U.S. Equity Futures were pulled lower by a 3.1% drop in the shares of the chip manufacturer, which is now the most valuable company in the world. Charu Chanana is the chief investment strategist for Saxo, a Singapore-based brokerage firm. She added that "we should expect some spillover" even though...

Gold prices and global equities fell on Thursday as traders avoided big moves, and awaited the three-day annual Jackson Hole Symposium of the Federal Reserve. The symposium begins on Thursday, and traders will focus on Fed Chairman Jerome Powell's Friday speech as they look for clues about the possibility of a rate cut in September. The U.S. Treasury rates increased as the meeting began. Oil futures rose, supported by strong demand from the United States and uncertainty about efforts to end war in Ukraine. The U.S. Dollar also gained, gaining 0.35% compared to a basket other currencies. Stocks in Asia...

Wall Street also opened lower on Thursday as traders avoided big moves in anticipation of the three-day Jackson Hole Symposium, which is being held by the Federal Reserve. Jackson Hole begins on Thursday, and traders will be watching for clues about a possible September rate cut. Stocks held near their recent highs in Asian trading and Australia's benchmark reached a new record. The European session was a struggle for the markets to gain ground. People are slouching. "You have two big unknowns in the near future, Jackson Hole tomorrow, and the Fed on September," said Tim Graf. He is head...

The dollar gained ground on Wednesday ahead of an important meeting of central banks later this week. Oil prices rose after a fall in the previous session. Traders bet on the possibility that talks about a possible deal to end the conflict in Ukraine would ease sanctions against Russian crude oil and boost global supply. Stock futures in Europe, the U.S. and Europe all fell by 0.47%. The EuroStoxx 50 futures fell 0.55%. DAX futures also declined by 0.5%. FTSE Futures slid 0.14%. S&P futures fell 0.2%, while Nasdaq lost 0.34%. This is a continuation of the overnight fall. The...

Wall Street and European stocks were flat or marginally lower Monday, ahead of an eventful week in U.S. rate policy. Meanwhile, attention was focused on Washington where Volodymyr Zelenskiy from Ukraine and European leaders would meet Donald Trump. S&P 500 was slightly down in midday trading but remained within striking range of its Friday all-time high. The MSCI All Country World Index was 0.1% lower but still not far off its record high reached on Friday. In the Asian session earlier, indexes from Japan, Taiwan, and China reached record highs, with a Chinese stock gauge reaching its highest level for...

The U.S. shares and European stocks started the week cautiously, ahead of an eventful week in U.S. rate policy. Attention turned to Washington, where Volodymyr Zelenskiy from Ukraine and European leaders would meet Donald Trump. S&P 500 remained near its Friday high in the early trading on Monday. The MSCI All Country World Index was also down 0.15% and within touching distance of Friday's record high. In the Asian session earlier, indexes in Japan, Taiwan, and China reached record highs, while an indicator of Chinese stocks hit its highest level for a decade. After Trump's Friday summit with Russian president...

Ampol, Australia's largest fuel retailer, posted a 23% drop in profit for the first half 2025. The result was better than expected, as it was affected by weather and operational disruptions. The planned maintenance shutdowns, as well as production losses due to a cyclone, disrupted the operations. Meanwhile, low Singapore refining margins impacted profitability at the Queensland refinery. The refinery's operating profit fell from A$89.5 to A$1.1 (roughly $716,210) compared to A$89.5 a year earlier. Earnings from the fuel and infrastructure division were also reduced by almost half to A$118.3 millions. The company's net income after taxes from its continuing...

The U.S. Dollar was under pressure Thursday, as traders bet that the Federal Reserve would resume lowering interest rates in January. Bitcoin reached a new record high while regional stocks saw a pause from their explosive rally. MSCI's index of Asian stocks excluding Japan remained near its highest level since September 2021. It took cues from Wall Street where the S&P 500 Index and Nasdaq Index hit new closing highs on the second consecutive day. On Wednesday, the MSCI All Country World Index reached a new record for the second consecutive session. Japan's Nikkei index fell following a six-day rally...

The U.S. Dollar was weaker on Wednesday as data revealed both the resilience of major economies and the necessity for central banks remain accommodative. Wall Street reached new heights Tuesday due to the increasing certainty that the Federal Reserve would cut interest rates in a month. Japan's Nikkei surpassed the 43,000 mark for the first and cryptocurrency ether reached a four-year high. Euro Stoxx futures for the entire region rose by 0.5%. German DAX futures also rose by 0.5%. FTSE futures climbed by 0.2%. U.S. Stock Futures, S&P 500 eminis were flat. The much-anticipated U.S. Inflation readings showed that President...

Berkeley, a British homebuilder, reaffirmed Friday its profit forecasts for fiscal years 2026-2027 and reported stable sales over the first four-month period of fiscal 2026. Housing market in the UK is facing renewed uncertainty, as high borrowing costs are causing affordability issues. Planning and regulatory obstacles also compound the situation. Developers, such as Persimmon, Barratt Redrow and others, are increasingly using incentives and discounts to boost demand. Berkeley has maintained its forecasted pre-tax profit of 450 millions pounds ($607,9 million) for year ending April 30th 2026. It also projected a similar result for fiscal 2027. LSEG data shows that analysts...

JX Advanced Metals is likely to cut its copper production in fiscal 2025 by tens or thousands of tons compared to earlier plans. The company will also unveil a roadmap for reducing smelting capacities by March. Due to the shortage of concentrate and increasing smelting capacity, Japanese copper smelters have been struggling with tumbling treatments and refining costs (TC/RCs). Some Chinese smelters processed copper at no cost for Chilean miner Antofagasta in June. This was a record-low. Hayashi said this week that "in the short-term, we plan on reducing annual electrolytic output by several tens thousands of tons compared to...

In a telephone call with Donald Trump, the Australian Prime Minister Anthony Albanese on Thursday evening discussed ways for Australia and United States to collaborate on vital minerals. This was confirmed by his office. Albanese’s office released a statement saying that the two leaders discussed ways to collaborate on important minerals and trade "in both nations' interests". It added that they also discussed the importance shared security interests. Albanese said on social media it was "a warm and constructive conversation." Albanese was reelected leader of the center-left Labor Government in a national election in May. He has yet to meet...

Investors kept their distance from the market ahead of important economic data to get a sense of the Reserve Bank of Australia’s monetary policy. As of 0024 GMT, the S&P/ASX 200 was down by 0.5% to 8,854.20. The benchmark index ended Tuesday 0.3% lower. If the current momentum continues, the benchmark index is on course to record its fourth consecutive day of losses. The benchmark index has fallen 1.3% this month as traders lock in profits after its strongest August performance since 2009 The economic data for Australia's second quarter GDP is due to be released later today. Investors will...

The Australian Competition Regulator said that the appeals of steel producer BlueScope, and its former General Manager against an earlier ruling in a civil anti-cartel proceeding brought by BlueScope were dismissed by a court. The court confirmed its previous findings, that BlueScope's former general manager and BlueScope tried to convince distributors in Australia to enter into agreements containing price-fixing clauses between September 2013 and July 2014. In 2019, Australia's Competition regulator initiated civil cartel actions against the company, and its former employee. The alleged conduct was in the supply flat steel products. Australian Competition & Consumer Commission stated that the...

The gold price was on course for a rise of more than a month on Friday, after reaching a peak of over a month in the previous session. This was supported by a softer dollar in general and expectations that the Federal Reserve will cut interest rates in September. As of 0223 GMT, spot gold was unchanged at $3,412.56 an ounce. Bullion is up 3.9% this month, and on Thursday it reached its highest level of $3.423.16 in the last 23 days. U.S. Gold Futures for December Delivery were flat at $3.473.70. Dollars fell 0.4% overnight and were set to...

In an interview, Alvaro Garcia, the newly appointed Economy minister of Chile, said that he expects Codelco - a state-owned copper producer – and SQM - a local miner – to complete a major partnership deal with lithium before 2026 when the current administration leaves. Some presidential candidates have stated that they will review or cancel the deal if it is not completed before President Gabriel Boric leaves the office. This puts pressure on the administration to complete the crucial pillar in its pledge to increase the role of the state in lithium production. This is our immediate goal. "We...

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...

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...

KoBold Metals - the mining company owned by U.S. billionaires Jeff Bezos & Bill Gates - has been granted seven permits for the search of lithium and other minerals within the Democratic Republic of Congo. This was announced on Wednesday. In July, the Central African nation signed a contract with KoBold that allowed it to begin a large-scale exploration program for minerals. KoBold also acquired Manono, a lithium deposit that is considered to be one of the largest in the world. A company official said that "our exploration efforts will be centered on lithium" across the seven new licenses. Four...

Critical Metals announced on Tuesday that it had signed a 10-year contract to supply heavy rare-earth concentrate to Ucore Rare Metal’s U.S. Government-funded Louisiana processing plant. The Tanbreez Project, a Greenland-based mining project in the development stage, is expected to produce up to 10,000 tons of concentrate per year. This represents 10% of initial production projections. The U.S. is looking to increase domestic production of essential minerals in order to counter China's near total control over the sector. Ucore Louisiana's facility received $18.4 Million from the U.S. Defense Department to begin construction on phase one of four. The company expects...

India's Foreign Ministry said that the Quad Group of countries was important to India and Japan, especially in relation to critical minerals. The ministry also stated that the two prime ministers would be discussing the grouping during this week. The Indian Prime Minister Narendra Modi will visit Japan from August 29-30 to attend the 15th India Japan Annual Summit. He will also hold discussions with his Japanese counterpart Shigeru ishiba. Modi will fly to Tianjin, a Chinese port city on the coast of the Pacific Ocean for the Shanghai Cooperation Organisation Summit (SCO), which takes place between August 31 and...