East Asia

Hazeltree, a data and technology firm, said that shortsellers had targeted a broader range of equity sectors before President Donald Trump announced his "Liberation Day", or April 2, tariff announcement. They also raised negative bets against a group of large tech stocks. Super Micro Computer was the most popular security. It knocked oil and gas producer Chevron from the top spot it held for two months. Prior to this, tech stocks dominated the top 10 list of most-shorted U.S. Large Caps. Hazeltree reported that only five of the top 10 stocks most shorted in March were tech shares, compared to...

Three sources with knowledge of the situation said that India intends to eliminate taxes on U.S. imports of ethane, liquefied petrol gas (LPG), and other petroleum products. The move is part of broader talks with Washington to reduce India's trade surplus and lower its tariff burden. India is considering scrapping the import tax on U.S. LNG and increasing purchases of fuel from the United States. As President Donald Trump’s sweeping tariffs rattle markets and economies, several Asian nations with trade surpluses in Washington are looking to increase their imports of U.S. Energy. They hope that this will help them avoid...

HSBC reduced its Brent crude forecast on Tuesday. It cited rising trade tensions as well as an expected decrease in global oil consumption. The Bank cut its Brent Price Forecast to $68.5 per barrel in 2025, and $65 for 2026. The company also reduced its forecast for global demand growth in 2025 to 0.7 million barrels per day (mbd), and to 0.8 mbd in 2026, compared to the previous 0.9 mbd. This was due to an expected one-percentage point drop in global GDP. The ambiguous U.S. policy on trade has created uncertainty in the global oil market and prompted the...

After securing fuel, Britain announced on Tuesday that it would be able to keep its last steel blast furnaces running for the next few months. This is the latest move in the last-ditch effort by the government to save the domestic virgin steel industry. After passing emergency laws to take control of the site, in northeastern England, from Chinese owners Jingye Group on Saturday, the government has been in a race to find enough coking coal to keep the furnaces operating. The furnaces were losing over 700,000 pounds (922,950.00 dollars) per day. They needed to be continually fueled, could not...

Data released on Monday showed that China's crude imports rose sharply in March compared to the previous two month and nearly 5% compared to a year ago. The increase was attributed to a rise in Iranian oil as well as a rebound in Russian deliveries. According to records of customs, March imports totaled 51.41 millions metric tons. This is equivalent to 12.1 million barrels a day. It was the highest level since August 2023. This is an increase from 11,55 million bpd, in March 2024, and 10,38 million bpd during the period of January-February. In March, independent refiners & traders...

New Zealand and Australia announced on Thursday that they were each working with other countries on a potential joint response to bolster free trade in the face of a barrage U.S. Tariffs. Christopher Luxon, the New Zealand Prime Minister, said that he spoke with leaders from Singapore, Vietnam, and Malaysia as well as with the head of the executive of the European Union about international trade. Luxon, in a speech he gave on Thursday, floated the idea that members of the European Union and Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP) could work together. The global trade system has been...

Seven & i Holdings, a Japanese company, reported on Wednesday that its fourth-quarter profits dropped by 15%. This could make it more difficult for the company to fend of a hostile takeover bid from Alimentation Couche-Tard in Canada. The earnings of the 7-Eleven convenience store operator came in slightly better than expected, but it was the fourth consecutive quarter that profits declined. Inflation has increased the price of materials in Japan and utility costs. The country also lags behind its competitors in terms of attracting customers who are price-conscious. Executives noted that the uncertainty surrounding President Donald Trump's proposed tariffs...

The oil price fell to its lowest level in four years on Wednesday, in the worst five-day loss streak in three year. Several commodities, such as base metals, also tumbled, as the trade conflict between China and the U.S. intensifies. As global recession fears gripped the financial markets, stocks in Asia continued to fall on Wall Street. U.S. president Donald Trump appeared set to impose a whopping 104% duty on Chinese goods. ANZ released a report that said "Crude Oil extended losses amid signs escalation of the trade war." "Copper is down nearly 10% since Trump announced the reciprocal tariffs...

Seven & i Holdings, a Japanese company, announced on Wednesday that its fourth-quarter profits fell by 15%. This is likely to hinder the ability of Alimentation Couche-Tard to takeover Seven & i Holdings. 7-Eleven's operator booked an operating profit of 105.6 bn yen ($726.4m) during the period December-February, which is slightly higher than the average 94.5 bn yen of eight analyst forecasts compiled by LSEG. Its fourth consecutive quarter saw a decline in profits as inflation levels in Japan and North America impacted consumer spending. It has been hit by price-conscious consumers switching to cheaper competitors in its domestic market....

The Shanghai Stock Exchange said that top Chinese brokerages had pledged to stabilize domestic share prices through a concerted campaign. Scores of listed companies also announced stock-buying plans as the local markets reeled from an escalating global trade war. The Shanghai Stock Exchange announced late on Tuesday that it had held a meeting to discuss the importance of stabilising the markets when faced with external shocks. Participants, such as Citic Securities, Orient Securities, and Industrial Securities, expressed optimism regarding China's prospects for growth and vowed that they would stabilize the market. The United States announced on Tuesday that 104% tariffs...

China's regulator for state assets announced on Tuesday that it would help central government-owned firms increase their stock holdings, and buy back shares to reduce the impact of a escalating trade war in the world on the stock market. Sinopec and other state-owned Chinese companies have announced plans to purchase shares in order to boost investor confidence. In a press release, the government's Assets Supervision and Administration Commission will guide state-owned companies and their listed subsidiaries in order to protect the rights and interest of shareholders and consolidate market confidence in listed firms. The U.S. President Donald Trump imposed additional...

Marco Tronchetti Provera, executive vice chairman of the Italian tyremaker, said that Pirelli has difficulty investing in the United States as its largest shareholder is China’s state-owned Sinochem in a newspaper article on Tuesday. Pirelli's Chinese shareholders and Italian investors are in disagreement over the group's management as Washington clamps down on Chinese tech in the auto industry by banning software and hardware. Tronchetti Provera, a journalist for the Italian newspaper La Repubblica, said that Sinochem's stake of 37% had been a problem when Pirelli was negotiating with local authorities about doing business in Alabama and Virginia. "Now, we are...

Shenghe Resources, a Chinese company, said that the suspension of shipments from its U.S. partners of rare earth raw concentrator will not have a significant impact on production because of the company's diverse supply chain. MP Materials, the owner of the U.S.'s only rare earths mine said that it has stopped shipping these vital minerals to China due to the 125% tariffs Beijing imposed on U.S. imports as a retaliation against U.S. tariffs imposed on Chinese goods by President Donald Trump. Rare earths is a grouping of 17 metals which are used in the production of magnets for electric cars,...

Iron ore futures fell on Friday, heading for a second consecutive weekly loss, weighed down by lingering Sino/U.S. Trade tensions. However, resilient demand, positive economic data, and the hope of further stimulus from China, the top consumer, cushioned this fall. On China's Dalian Commodity Exchange, the most traded September iron ore contract dropped by 1.76% to $699 ($95.80) per metric ton. This is its lowest price since April 11. The weekly decline was 0.7%. As of 0706 GMT the benchmark May ore price on Singapore Exchange dropped 0.88%, to $96.95 per ton. This is a decline of 0.2% for this...

The copper prices in Shanghai increased on Friday, as the possibility of an end to the titt-for-tat tariff increases between the U.S. As of 0355 GMT, the most traded copper contract at the Shanghai Futures Exchange rose 0.3%, to 76.040 yuan (10,421.58) per ton. Good Friday is a holiday in London. The London Metal Exchange will be closed. Trump said on Thursday that he did not plan to increase tariffs on Chinese imports. In response to Beijing counter-measures the U.S. has increased rates on Chinese imports. The latest White House factsheet states that China faces a tariff of up to...

The copper prices in Shanghai increased on Friday as the possibility of an end to the titt-for-tat tariff increases between the U.S. As of 0150 GMT, the most traded copper contract at the Shanghai Futures Exchange rose 0.4%, to 76130 yuan per metric ton ($10,428.05). Good Friday is a holiday in London. The London Metal Exchange will be closed. Trump signaled on Thursday that he doesn't intend to increase tariffs on Chinese imports. Trump increased tariffs on Chinese imports to 145% after Beijing responded with countermeasures. China's own message that tariffs would not be raised further was sent last week...

MP Materials announced on Thursday that it would no longer be shipping rare earth concentrates to China as a result of the retaliatory duties and export controls imposed by China following the tariffs imposed by U.S. president Donald Trump. This sent its shares down 3,9% in the afternoon. The company stated that "Selling valuable critical materials at 125% tariffs was neither commercially logical nor in the national interest of America." MP produces rare-earths concentrate in its California mine, which is then sold to independent refineries worldwide including China through a distributor. The company is increasing the production of rare earths...

The copper price fell in London Thursday, under the pressure of a stronger dollar. However, it remained within a narrow range, despite lower trading volumes before a four-day break for Easter. There was also no sign that the trade war between China and the U.S. had de-escalated. By 1019 GMT, the benchmark three-month price of copper on London Metal Exchange was down by 0.9% to $9,120.50 per metric tonne. Metals that are important for growth have lost 6% this month due to an escalating global trade war. The two biggest economies in the world have imposed triple-digit import duties on...

Hyundai Motor will temporarily stop production of some electric vehicles in South Korea, Yonhap reported on Thursday. The news agency cited unnamed sources. Yonhap reported that the South Korean automaker will stop production on certain lines at its Ulsan facility, where it produces electric vehicles Ioniq 5 & Kona, from April 24-30. Yonhap said that the suspension is due to the fact that EV orders have dropped sharply from major markets in April after the removal of government EV subsides and U.S. Tariffs on imported cars. Hyundai Motor is not available to comment immediately outside of regular business hours. The...

Shanghai copper rose on Thursday as a weaker dollar and improved economic data from China, the world's largest metal consumer, boosted market sentiment. As of 0315 GMT, the most traded copper contract on Shanghai Futures Exchange (SHFE), rose 0.7%, to 76.090 yuan per ton ($10,413.02). Dollar index is near the three-year-low hit last week. This makes greenback-priced goods cheaper for buyers who use other currencies. Data released on Wednesday showed that China's economy grew by 5.4% on an annual basis in the first three months of this year, exceeding estimates. This was due to solid industrial output and consumption. Daniel...

The price of iron ore futures fell on Wednesday as the trade tensions between China and America escalated, causing concerns about demand prospects. Meanwhile, doubts grew over stimulus prospects after a series of positive Chinese data. The September contract for iron ore on China's Dalian Commodity Exchange recovered some of its earlier losses and ended daytime trading 0.14% lower, at 708 yuan per metric ton. As of 0717 GMT, the benchmark May iron ore traded on Singapore Exchange fell 1.28% to $97.35 per ton. Data released on Wednesday showed that China's economy grew by 5.4% in the first quarter of...

Three of the top copper suppliers in the United States have told the administration of President Donald Trump that the imports do not pose a threat to U.S. national security. Chile, Canada, and Peru are attempting to avoid potential tariffs for the metal, which is needed for electric cars and other industrial applications. Trump began a probe in February into potential duties under the Section-232 national security provision of Trade Expansion Act of 1964, which he had used during his first term in the United States to impose global tariffs of 25% on steel and aluminium. In recent weeks, the...

After three sessions of gains, copper prices fell on Tuesday due to uncertainty over tariffs imposed by U.S. president Donald Trump and their impact on the global economy. By 1000 GMT, the London Metal Exchange's (LME) three-month contract for copper was down by 0.3% to $9,163 per metric tonne. The contract reached its highest level in the previous session since April 4. Ole Hansen is the head of commodity strategy for Saxo Bank, Copenhagen. Trump suggested on Monday that he may grant exemptions to auto-related tariffs in place. The market may be starting to see through Trump's bluff. He won't...

Investors and traders waited for more economic data to be released by China, the world's largest consumer of iron ore. This would provide clarity on demand and potential stimulus. As of 0316 GMT, the most traded September iron ore contract at China's Dalian Commodity Exchange was 0.85% higher. It was 712 yuan (US$97.41) per metric ton. As of 0310 GMT, the benchmark May iron ore price on the Singapore Exchange had fallen 0.29% to $97.85 per ton. On Wednesday, China will release more data on industrial metals and economic indicators. Market signals are mixed, obscuring the demand outlook for this...