Japan

Federal Reserve quarterly "dot-plot" rate forecasts could soon lose the last projected rate reduction, the so called easing dot. The plot itself may disappear altogether. Markets would then have to determine if Kevin Warsh was really the inflation-hawk he claimed to be. It might still be a surprise to some investors if he's right. Before his first policy meeting, the new Fed chairman is busy setting up his stall. He consults his staff and gets ready for his first policy session. The guidance he receives on policy direction is not going to be easy. The three-month-long war in Iran and...

Wild swings in stock prices could indicate a market that is in its final stages of a speculative frenzy. Wall Street's fear gauge is dozing. It may take some good news to get it moving again. The AI boom is accelerating and attracting more and more tech and chip names from around the world. Even companies with a market cap of more than $200 billion have seen a 20% to 30% one-day increase. Dell's stock soared by 32% after its disastrous results on Friday. Hewlett Packard Enterprise soared 28% Tuesday after its own earnings report. Marvell Technology gained 25 percent...

The Iran War has impacted crude oil and natural gas markets. However, the impact on coal prices has been muted. Prices for thermal grades are quietly rising to multi-year highs. The conflict between the United States of America and Iran has led to the loss of about 10% of crude oil and a fifth of LNG. However, the thermal coal supply has been largely unaffected by the conflict, despite the fact that the cost of shipping and producing has increased due to higher fuel prices. Coal prices are likely to be driven by a number of factors, including the Iran...

Their leaders said that?South?Korea? and Japan?have agreed to expand their cooperation in the areas of LNG and crude oil supplies, including stockpiling, and swapping petroleum products. After a meeting held in Lee Jae Myung's hometown, Andong, the President and Prime Minister said they would intensify coordination to stabilize?energy supply and expand their cooperation with other Asian countries as disruptions in supply due to war in the Gulf are straining their import-dependent economy. In a joint press statement, Lee stated that "recent instability in energy markets and supply chains stemming from Middle East situation has further highlighted the need for closer...

The Offshore Alliance said that the union grouping has served a 'notice of strike' at Inpex’s Ichthys facility in northern Australia, effective May 27. This could further tighten global energy supply. In May, 326 out of 346 unionized workers at the 9,3 million-metric-ton-a year facility near Darwin voted to strike over pay and conditions. Lawyers 'for the Offshore Alliance', a grouping of Maritime Union of Australia & the Australian Workers Union served the Japanese company with an intent to strike from May 27 through June 10. They said that months of talks had not made any progress. In a statement,...

Eneos Holdings announced on Thursday that it would purchase U.S. giant Chevron's 50 percent stake in Singapore?Refining Company and other assets throughout Southeast Asia, Australia and Australia. This will be its first venture into refining outside of Japan. Eneos stated that the deal, which includes Chevron’s assets in Vietnam, Australia Philippines and Malaysia, is expected to be closed by 2027. Chevron is looking to sell its refining assets and storage facilities in Asia, to reduce costs and streamline operations. This investment is a major step towards strengthening the business platforms that connect Japan to Southeast Asia and Oceania. It also...

The rise in government borrowing costs over the long term is not slowing down, and there are more aggravators every day. If you have been enthralled by the gravity-defying markets of this year, then look no further for where stress is growing in world markets. The debt, oil, inflation and interest rate risks, combined with the domestic political and geopolitical uncertainties, as well as the waning demand from the private and public sectors for long-term bonds, have pushed borrowing costs in the Group of Seven (G7) advanced economies to their highest level in over 20 years. According to ICE Bank...

Next week, investors will be focusing on three major issues: the war in Iran and the interest rate path. Five of the "Magnificent Seven" U.S. technology giants are reporting their earnings. Four of the top central banks in the world meet to discuss how long they will be able to'realistically' look past the rise in energy prices caused by the blockage of the Strait of Hormuz. Marc Jones, Dhara Ranasinghe and Lewis Krauskopf in New York will give you all the information about this week's financial markets. Rae Wee is in Singapore. 1/CORRIDOR POWER The next week will be dominated...

A 'Indian court extended Friday the pre-trial detention of an aviation regulator and a 'Reliance Industries executive?until May 6, in connection with a bribery probe relating to drone import approvals. India's top criminal agency announced on Sunday that it had arrested Mudavath devula, deputy director general of Directorate General of Civil Aviation and Bharat mathur, senior vice president of Reliance, for accepting a $16,000 bribe in order to clear drone import requests by Asteria aerospace, an?unit of billionaire Mukesh ambani-led Reliance. The agency didn't disclose the source of the imports. Two men dressed in formal shirts appeared briefly at a...

The World Bank announced a new strategy on Friday that focuses on jobs to help small island states, and other small countries address challenges like remoteness, shock exposure and a limited economic base. World Bank President Ajay Banga spoke about the initiative in a closed door meeting of 50 ministers and governors of central banks from small countries, held during the spring meetings for the International Monetary Fund (IMF) and World Bank. He explained that the idea was to use different tools to help smaller states attract more investment, implement policy and regulatory changes to make it easier to run...

Kazuo Ueda, the Bank of Japan governor, said that the economic and price development was roughly in line with the bank's predictions. He called for caution in assessing the impact of the escalating conflict. The Middle East tensions have caused a sharp rise in crude oil prices and instability on the global financial markets. Ueda, who was quoted by Ryozo Himino in a speech that he read out, said: "We must be vigilant for future developments." Markets were watching the speech closely for any hint that the BOJ would raise interest rates during its next policy meeting, which will be...

Satsuki Katayama, Japanese Finance Minister, said that private credit is not a major problem in Japan at the moment. However, he noted that risks related to this $2 trillion industry may be discussed next week at the G7 finance summit. "Japan’s exposure to private credit is not very large." "It's not like there are no investments, but at this stage we don't view this as an important issue in Japan," she said at a press conference. Her comments coincide with the 'Financial Services Agency of Japan' checking private credit exposure in major financial institutions amid growing concerns about emerging strains...

The?Nikkei?share average in Japan retreated for a second straight session on Friday after closing at an all-time high earlier this week, as momentum slowed down in the?hot technology sector. The Nikkei Index, the benchmark index, fell 1.3% and closed at 66588.12, posting a gain of 0.3% for the week. The Topix index, which is a broader measure of the market, fell 0.07% to 3,599.09. The Nikkei closed at a record high of 68.402.13 on Wednesday, and it has gained 34% this year. The Nasdaq, the tech-heavy stock market in the United States, closed lower. Overnight, Broadcom missed its revenue targets...

Gold demand in India was subdued as buyers were on the sidelines because of?volatile overseas prices. Premiums?in China also eased slightly. On Friday, the price of domestic gold was around 158.400 rupees for 10 grams. Dealers quoted discounts This week you can save up to $87 per ounce on official domestic prices, including 15% import duty and 3% sales tax. Last week, you could save up to $106 per ounce. The wedding season is coming to an end. The retail demand is continuing to moderate and jewellery stores are reporting lower footfall in the country, said a Mumbai bullion dealer...

The Nikkei stock average in Japan retreated for the second time this week after reaching a record-high earlier 'this week. The Nikkei Index benchmark was down 1.58 % at 66 406,17 but is still on track for a small gain this week. The Topix index, which is a broader measure of the market, rose 0.01% to 3,952.44. The Nikkei closed at a record high of 68.402.13 on Wednesday, and it has gained 34% this year. The Nasdaq, the tech-heavy stock market in the U.S., closed lower overnight after Broadcom missed its revenue targets. This dampened euphoria about AI investments. The...

China has blocked Japan from obtaining several rare earths, heavy materials, and other minerals for at least four months. This coincides with a dispute over Taiwan between the two nations, indicating that Beijing is using its control of critical minerals to gain diplomatic leverage. Japan is the second largest producer of rare-earth magnets outside of China, but, like the rest of the globe, it is largely dependent on Beijing to import certain heavy rare earths, which are used in magnets, aerospace, and defence as well as gallium. Chinese customs data show that since December, Chinese exports to Japan of rare...

This week, gold prices in India continued to be at a steep discount, due to price volatility, which dampened demand, while premiums in China were reduced. Dealers in India quoted discounts This week, you can save up to $78 per ounce on official domestic prices, including 15% import duty and 3% sales tax. That's a significant drop from the previous week when you could save up to $207 per ounce. Retail buyers are confused by the recent price fluctuations after the government increased import duty earlier in the month. "Most of them are waiting for the prices to come down,"...

Japan's Nikkei stock average rose by the most in two weeks Thursday, thanks to renewed interest?in technology stocks?and the easing of geopolitical tensions?related?to the Iran War. The Nikkei Index benchmark rose by 3.14%, closing at 61.684.14, the highest one-day gain since May 7. The Topix index, which is a broader measure of the Nikkei 225 Index, rose 1.64% to 3,5853.81. The Nikkei mirrors Wall Street gains ahead of earnings forecast by AI powerhouse Nvidia. The oil prices fell sharply overnight, after U.S. president Donald Trump said that negotiations to end war in Iran are in their final stages. This eased...

The Nikkei 225 index rose more than 3.5% Thursday, the biggest gain in two-weeks, thanks to renewed interest in 'technology stocks' and a easing of geopolitical tensions related to?the Iran War. If the current momentum continues, the benchmark Nikkei Index will be on track for its biggest daily gain since May 7 if it maintains this pace. The Topix index rose 2.21% to 3,875.34. The Nikkei was up ahead of Wall Street's gains before earnings from AI bellwether Nvidia. Nvidia forecasted sales that exceeded market expectations. Oil prices fell sharply overnight after U.S. president Donald Trump announced that negotiations to...

This week, gold discounts in India reached a new record as a sharp increase in import duties slowed demand and triggered investor sales. Meanwhile, Chinese premiums remained firm due to investment demand. Dealers in India quoted discounts This week, you can save up to $207 per ounce on official domestic prices, including 15% import duties and 3% sales taxes. A jeweller in Hyderabad said that the'sudden rise in price' prompted investors and jewellers to sell while retail buyers and jewellers stayed out of it. India increased import duties on gold and Silver to 15% this week from 6%. India, the...

Honda Motors posted its first loss as a publicly listed company in more than 70 years on Thursday. The firm was hit with a restructure of its electric vehicle?business that cost?more $9 billion, and the firm canceled its long-term sales target for EVs. Honda's worst financial report released since it listed on the stock exchange in 1957 shows how a legacy automaker can lose money if they make a bet on EVs and then find that demand is weaker than expected. Toshihiro Mibi, the CEO of Japan's largest automaker, announced on Thursday that Honda has scrapped its goal to have...

In the seven days leading up to May 9, foreign flows into Japanese shares jumped to an all-time high. A rally in AI-linked stocks, as well as strong tech and banking sector earnings, boosted risk sentiment. Data from the Ministry of Finance (MOF) on Thursday showed that foreigners continued to buy Japanese stocks for a sixth consecutive week. The Nikkei?225 posted a record high of 63,799.32 points on Thursday. AI-linked demand?and rising interest rate boosted earnings for Japanese tech companies and banking stocks. Sumco, Kioxia, and Ibiden are tech sector suppliers that have set records this week. Sumco, Kioxia, and...

The fire that broke out at the Cajamarquilla Zinc Smelter of Nexa Resources in Peru on Wednesday has been brought under control. However, several workers were injured. Nexa sent a message to its workers in which it said that three Hitachi workers and one of their own employees were affected. The company reported that three of the injured people were transported for treatment and evaluation, and were in stable condition. A fourth person was treated on-site. Nexa has evacuated its workers as a precaution from the affected area and activated safety and emergency protocols, with local firefighters' support. The company...

Nippon Steel is Japan's largest steelmaker. On?Wednesday, it said that its net profit for the fiscal year ending in March will?increase dramatically to a?220 billion ($1.4 billion). This is because the effects of one-off losses are fading from its results. Nippon Steel also reported a 95% decline in profits for the previous financial year, to 17.2 billion Japanese yen. In February, the company announced that it "expected" to lose 70 billion yen in the fiscal year ending in March. This was due to an explosion at a blast-furnace and to costs related to the U.S. Steel transaction. Nippon Steel said...