East Asia

On Monday, the Russian rouble fell against the U.S. Dollar and the Chinese yuan as the corporate sales of foreign currencies, which had supported the rouble over the past few weeks, decreased. The rouble fell more than 0.4% against the dollar at 1050 GMT and was down 0.2% against the yuan at 1140 on the Moscow Stock Exchange. The traders believe that the currency sales of Russia's two major oil companies, Rosneft & Lukoil - both sanctioned in the U.S. - have supported the rouble. The traders did, however, note the recent irregularity of corporate forex sales. The U.S. has...

The U.S. released some details on a new trade agreement with South Korea. The United States and South Korea released a joint factsheet on the recent summit between President Donald Trump of the U.S. and President Lee Jae Myung of South Korea. Washington and Seoul have agreed to lower the tariffs on U.S. autos and auto part imports from Korea to 15%. This is a reduction of 25%. Seoul said that the effective date for auto tariffs would be November 1, after the agreement was finalised, and when a bill relating to the $350 billion package of investment is presented...

Several sources familiar with the situation said that Saudi Arabia will export to China at least 36,000,000 barrels of crude, a slight decrease from the previous month. As some Chinese refineries prepare for maintenance, and independent refiners wait for Beijing's 2026 import quotas, the expected drop in oil supply for the second consecutive month from the top oil exporter to world's biggest importer comes at a time when many refineries in China are preparing for maintenance. Sources said that one of the Chinese buyers has reduced their December volume because they have already lifted the majority of their full-year contract...

The Gulf's major stock exchanges rose early on Tuesday. This was aided in part by the rising expectations of a Federal Reserve rate cut in December and signs that the U.S. shutdown may be nearing its end. The U.S. economy lost jobs last week. Retail and government sectors were the main culprits. A survey released on Friday showed that the U.S. consumer's sentiment had fallen to its lowest level in 3-1/2 years at the beginning of November, due to concerns about the effects the shutdown would have on the economy. The shutdown has delayed important economic metrics including the non-farm...

The Japan Industry Ministry announced on Friday that it would temporarily increase gasoline and diesel subsides from next week to try and smooth out the impact of planned tax reductions on fuels. To ease the burden of households, the ruling and opposition parties in the country agreed to abolish the gasoline tax by December 31, and the diesel tax by April 1, next year. The government is hoping that by temporarily increasing subsidies on gasoline, diesel and other fuels, consumers won't be tempted into delaying purchases until the tax reductions are implemented. This move will also help Japan avoid long...

According to documents and shipping data from the state-owned firm PDVSA, Venezuelan oil exports fell 26% in October to 808,000 barrels a day as its stocks decreased and it imported fewer volumes of diluents for exportable crude grades. Exports from the OPEC nation reached a 5-year high in Septembre, after being boosted in part by a stable crude oil production of around 1.1m bpd. Also, robust imports of naphtha and light crude - mainly from Russia – earlier in the year were made to reduce its heavy oil output. The data and documents revealed that imports dropped to 41,000 bpd...

SK Innovation Co Ltd, the owner of South Korea’s largest refiner SK Energy said on Friday that it expects the refining margins to remain stable in the fourth-quarter amid global supply disruptions as well as the onset winter peak demand. The company reported an operating loss of 423 billion won in the period July-September, but a profit of 573 trillion won for that same period. This compares to an analyst's average forecast of 304 billion dollars in profit. The third-quarter revenue increased 16.3%, to 20.5 trillion won, from the same period last year. SK On, a battery supplier to Ford...

Covestro, a German chemicals company, lowered its core profit forecast for the full year on Thursday because of soft demand. However, it said that its financial stability will be assured as ADNOC's $17 billion acquisition by Abu Dhabi is expected to close during the fourth quarter. Covestro's earnings before interest taxes, depreciation, and amortization are now expected to range between 800 and 700 million euros. This is a drop from the two previous cuts it made this year. The previous estimate was that the EBITDA would range between 700 million and 1.1 billion euro. The company's products, including foam chemicals...

Here are some details from the U.S. White House Factsheet and South Korea's Chief Policy Advisor Kim Yong Beom on the recent trade agreement between the two nations. Washington and Seoul agreed that tariffs on U.S. auto imports from Korea and auto parts will be reduced to 15% from 25%. This is to bring them in line with their Japanese counterparts who pay the same 15% tariffs after Tokyo made a deal with Washington. South Korean wood product and pharmaceutical manufacturers will have the lowest tariffs of all countries. Generic drugs and aircraft parts will be exempt from tariffs. Kim...

The oil prices were stable on Wednesday, as investors weighed the optimism surrounding a meeting of the top two consumers in the U.S.A. and China with the expected rise in production quotas at the next OPEC+ summit. Brent crude futures rose 11 cents or 0.2% to $64.51 a barge at 1020 GMT. U.S. West Texas Intermediate Crude futures climbed 6 cents or 0.1% to $60.21. China's Foreign Ministry said Chinese President Xi Jinping will meet U.S. president Donald Trump in Busan, South Korea on Thursday. The statement said that the meeting will "inject new energy into the development U.S. China...

Wall Street's major indexes hit new record highs Monday, as the excitement surrounding a possible U.S. China trade deal set a tone for a busy week of high-profile earnings from technology companies and a widely anticipated interest rate reduction. On Thursday, Donald Trump and Xi Jinping (the Chinese counterpart) will meet to discuss the future of the U.S.-China relationship. A framework This could stop the tougher U.S. Tariffs and China's export restrictions on rare earths. It would also ease market anxiety about a possible trade war, and send Wall Street's VIX "fear gauge", to a month-low. During his weekend TV...

On Monday, the Russian rouble gained against the U.S. Dollar and the Chinese yuan ahead of corporate tax payments on the day before exporters convert their forex earnings into Russian roubles. By 1315 GMT the rouble had risen 0.6% to 79.24 dollars in the over-the counter market, and 0.5% to 11.09 yuan at the Moscow Stock Exchange where the Chinese currency is the most actively traded. The rouble also received support after the central bank decided to increase its key interest rate last week by a symbolic amount of 50 basis points, to 16.5%. This was high enough to keep...

The copper price fell on Monday due to a stronger dollar, the fading of hopes for a further Federal Reserve rate reduction, and macro-economic concerns. As of 1036 GMT, the benchmark three-month price for copper at the London Metal Exchange had fallen by 0.5% to $10,797.50 a metric ton. Metals used in construction, manufacturing and power are considered to be a good indicator of global economic health. In a note, Neil Welsh, the head of metals for Britannia Global Markets said that the base metals market was largely defined as a quiet one, with participants waiting on delayed U.S. data...

Yum China Holdings (the parent company of KFC in China and Pizza Hut there) said on Monday that it would continue to run a vigorous campaign in order to improve profitability and open new stores in the future. Smaller cities will be a key target. Yum China stated that by 2028 KFC plans to have over 17,000 stores in China, with an operating profit of 10 billion yuan (1,41 billion dollars). The company will use lower-capex store models in order to expand into smaller, untapped cities. The group expects to double the operating profit for Pizza Hut in China by...

Iron ore prices rose on Monday, reaching their highest level in two weeks. This was due to a strong near-term demand as well as renewed hopes for stimulus from China, the world's largest consumer after a series of disappointing data. The January contract for iron ore on China's Dalian Commodity Exchange closed the daytime trading 1.81% higher, at 788.5 Yuan ($110.97), its highest level since Nov. 3. As of 0715 GMT the benchmark December iron ore traded on the Singapore Exchange increased 1.57% to $104.2 per ton. This is its highest level since Nov. 4. In an interview given to...

Copper prices eased Monday, amid a general sell-off in the base metals complex. Concerns about a possible December rate cut were fueled by hawkish comments from U.S. Federal Reserve officials. As of 0250 GMT, the most active copper contract traded on Shanghai Futures Exchange fell 0.78%, trading at 86 560 yuan (12 182,63 yuan) per metric ton. The benchmark copper for three months on the London Metal Exchange fell 0.16%, trading at $10 835 per ton. Markets are under pressure because traders have bet against the Fed cutting rates in December. Some policymakers from the U.S. Central Bank expressed concern...

According to the Swiss government, a new trade framework agreement will allow the United States to reduce its tariffs from 39% on Swiss goods down from 15%. U.S. trade representative Jamieson Greer had said that the U.S. "basically reached a deal" with Switzerland and would reveal details later on Friday. The Swiss government announced that it would soon announce details. Greer told CNBC that the deal will see Switzerland moving "a lot" of manufacturing to the United States, including pharmaceuticals, gold-smelting and railway equipment. We're excited about the deal, and what it means for American manufacturing. Greer stated that the...

Copper and industrial metals fell on Friday, after weak economic data in China's top consumer fueled concerns about demand. Hopes of another Federal Reserve rate reduction this year also faded. The benchmark three-month price of copper at the London Metal Exchange fell 0.6%, to $10,890 a metric ton, as of 1026 GMT. It had fallen as low as $10,000.25 earlier in the day. Metal used in construction, manufacturing and power was still on track for a gain of 1.6% per week, after briefly crossing the $11,000 mark Thursday. On October 29, copper reached its all-time high of $11,200. Analysts at...

The iron ore futures price range was narrow on Friday as investors digested mixed signals. Investors were looking at data that showed a surprising increase in demand, but also a still-weak property market in China, the top consumer. The day-trade price of the most traded January iron ore contract at China's Dalian Commodity Exchange was 0.26% higher, closing at 772.5 Yuan ($108.45). As of 0722 GMT, the benchmark December iron ore price on Singapore Exchange was down 0.33% at $102.45 per ton. The fact that the data was better than expected, with the average daily output of hot metal, which...

After a four-session run of gains, copper prices fell on Friday as investors awaited delayed U.S. economic data in order to gauge the health and performance of the largest economy. The most traded copper contract at Shanghai Futures Exchange ended the daytime trade down by 0.49% per metric ton. It finished the week up 1.50%. The benchmark three-month Copper on the London Metal Exchange fell 0.45% at $10,906.5 per ton, as of 0733 GMT. This represents a weekly gain of 1.53%. Data from the National Bureau of Statistics revealed that China's industrial production grew by 4.9% on an annual basis...

After a four-session run of gains, copper prices fell on Friday as investors awaited delayed U.S. economic data in order to gauge the health and performance of the largest economy. By 0250 GMT, the most traded copper contract at Shanghai Futures Exchange had dropped by 0.30%, to 87.070 yuan (12,223.78) per metric ton. The benchmark copper for three months on the London Metal Exchange fell 0.45% to $10.906.5 per ton. Data from the National Bureau of Statistics revealed that China's industrial production grew by 4.9% on an annual basis in October, and retail sales grew 2.9%. Both were the lowest...

China's crude output of steel in October was down 2% compared to the previous month, and 12.1% compared to the year prior. This is due in part, weather restrictions in northern regions, declining margins, and falling exports. Data from the National Bureau of Statistics revealed on Friday that the world's largest producer of this product produced 72 million metric tonnes of crude steel in December, the lowest level recorded since December 2023. This was down from the 73.49 millions tons produced in September. Calculations based on data show that the average daily production in October was 2,32 million tons. This...

Shanghai copper prices rose on Thursday, as investors welcomed an end to the U.S. Government shutdown. This eased market uncertainty. However, gains were limited by the expectation of weak Chinese lending in advance of important economic data releases. The Shanghai Futures Exchange's most traded copper contract closed the daytime trading at 86,550 Yuan ($12150.78) per metric ton, up by 0.95%. As of 0703 GMT, the benchmark three-month price for copper was also up, rising by 0.19%, to $10,965 per ton. The U.S. president Donald Trump signed legislation on Wednesday to end the longest shutdown of government in American history, just...

Solvay, a French chemical company, announced on Wednesday that it has signed two agreements to supply rare-earths to U.S. magnetic makers in order to expand its processing facility. Solvay is one of only a handful of companies outside China that can perform the difficult rare earths separation. In April, it began processing minerals for permanent magnets in its French facility. However, commercial production will depend on government and customer support. Separate statements stated that Solvay has concluded agreements to supply rare-earth oxides with U.S. firms Noveon Magnetics & Permag. In order to reduce dependence on China, the United States, Europe,...