Japan

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...

Yoshimichi M. Maruyama, chief financial officer of Japan's Seven & i, said that the company is working on a number of initiatives including potential M&A and partnership deals aimed at achieving substantial growth. 7-Eleven, the Japanese retailer that owns convenience stores in Japan, wants to show investors how it can grow after Canada's Couche-Tard pulled out of a $46 billion bid offer last July. Seven & i said that it would pursue a listing for its North American convenience-store subsidiary in the second half 2026 and buy back shares worth about 2 trillion yen (13 billion dollars) through fiscal year...

Albemarle announced on Monday that it would sell a 51 percent stake in its Ketjen refining catalyst solution business to KPS Capital Partners and its 50 percent interest in Eurecat to France's Axens SA in deals valued at approximately $660 million. Albemarle said that proceeds from the sale of lithium would be used to reduce debt and for general corporate purposes. This is part of Albemarle's efforts to increase financial flexibility and focus on its lithium and bromine core units. Albemarle has been attempting to reduce its portfolio in response to the recent drop in lithium prices, which has impacted...

The week will be dominated by trade talks between Washington and Beijing, and Canada, as well as central bank decisions from the United States, Canada, and Europe. Meanwhile, Argentina's stock markets are digesting the results of a decisive election for President Javier Milei. Dhara Ranasinghe, Alden B. Bentley, Lewis Krauskopf, and Rodrigo Campos in New York and Kevin Buckland, in Tokyo, give you all the information about what to expect in the world markets this week. 1/ A MIDTERM DRAMA Argentina’s bonds and shares are expected to rise on Monday, after President Javier Milei’s party won a decisive victory in...

Mark Carney, Canada's prime minister, will make his first official trip to Asia this Friday. He is hoping to strengthen trade and security links at a moment when North America struggles to reduce its dependence on the U.S. Canadian officials have said that Carney may also meet with Chinese President Xi Jinping during his week-long visit, as part of a possible attempt to restore a relationship previously strained by a trade war. Analysts say Carney will need to make it clear to Asian leaders that Canada is not as closely aligned to the U.S. President Donald Trump, who has threatened...

The week will be dominated by renewed trade tensions, talks between Washington and Beijing, and decisions made by the central banks of the United States, Canada, and Europe. Meanwhile, Argentina's voters go to the polls. Dhara Ranasinghe, Alden B. Bentley, Lewis Krauskopf, and Rodrigo Campos in New York and Kevin Buckland, in Tokyo, give you all the information about what to expect in world markets this week. 1/ A MIDTERM DRAMA The mid-term elections in Argentina on Sunday will be a crucial moment for the biggest reform story of emerging markets. Right-wing president Javier Milei wants to consolidate his minority...

The oil prices rose by about 5% after Washington imposed new sanctions against major Russian companies for the war in Ukraine. Major stock indexes also edged up as gains from U.S. energy stocks and European energy shares offset some disappointing earnings reports. The sanctions were announced late on Wednesday and targeted major Russian suppliers Rosneft, Lukoil. The U.S. announced it was ready to take additional action, as it urged Moscow to immediately agree to a ceasefire. Energy was the leading sector to gain on Wall Street, according to the S&P 500 index. Energy was the last sector to gain 1.2%....

The global stock market got a boost Thursday thanks to a series of positive earnings reports that helped offset some of the gloom in Wall Street due to a lacklustre performance by tech megacaps. Oil prices also rose following U.S. sanction against Russia. After the U.S. placed sanctions on Rosneft, and Lukoil, two major Russian oil companies over the Ukraine conflict. The STOXX 600 index rose 0.3% for the day, as positive earnings helped to boost the domestic indexes. The MSCI All-World Index, however, has slipped into the negative zone, and is on its way to its third consecutive day...

London Metal Exchange's zinc contract is on a wild ride this week, with time-spreads reaching record levels in the face of depleted stock. Since several months the zinc market has been sleeping-walking to this storm, believing that the falling LME inventories were not a true representation of a growing market surplus. Metal has been leaking out of LME's warehouses. There are only 35,300 tons left, which is barely enough for a day's global consumption. The arrivals have been very low despite the increasing premium for cash deliveries. It's a painful squeeze for the bears who misjudged zinc's changing dynamics. SINGAPORE...

Asian stocks dropped for a second consecutive day on Thursday, as Wall Street was hit by a sell-off due to lackluster earnings from the tech giants. Meanwhile, U.S. sanctions on Russia and possible export controls against China rekindled geopolitical concerns. After the U.S. placed sanctions on Rosneft, and Lukoil - two major Russian oil companies - over the Ukraine conflict, the price of oil jumped 3%. The broadest MSCI index of Asia-Pacific stocks outside Japan fell 0.4% last week, while Japan's Nikkei225 dropped 1.5%. Chinese stocks dropped as much as 1,1% after sources claimed that the White House was considering...

U.S. Treasury secretary Scott Bessent told Japanese Finance Minister Katsunobu Kato on Wednesday that the Trump administration expected Japan to stop importing Russian oil. Bessent, who spoke on X after the meeting on Wednesday, said: "Minister Kato & I discussed important issues pertaining the U.S. - Japan economic relationship as well as the Administration's expectations that Japan cease importing Russian Energy." Bessent met with Kato on the sidelines this week of the G7, G20 and annual meeting of the International Monetary Fund. When asked if Japan had been urged to stop buying Russian energy from Bessent, Kato replied that Japan...

Sources with knowledge of this matter stated on Friday that Saudi Arabia's crude exports to China will fall to 40 million barrels in November as refiners switch to cheaper spot supplies from other Middle East producers. This would be a drop from the 51 million barrels expected to be exported by the top oil exporter in October. Saudi Aramco, the state-owned oil company, left its official November price for its flagship Arab Light crude in Asia unchanged, despite market expectations that it would increase. This was a day after OPEC+ had agreed to a modest rise in oil production. Data...

Mitsubishi Materials, JX Advanced Metals and its partners announced on Tuesday their intention to integrate Mitsubishi Material’s copper concentrates procurement into Pan Pacific Copper. PPC, Japan's largest supplier of refined metals, is owned by JX to the tune of 47.8%. Mitsui Mining and Smelting holds 32.2% and Marubeni 20%. In a joint announcement, the companies stated that they proposed an integration to create a framework for boosting profitability through consolidation of copper concentrate procurement and cost reductions, as well as streamlining their sales operations. The conditions for buying copper concentrates from mines have significantly worsened as the competition with overseas...

Marubeni Corp, a Japanese company, announced on Monday that it would invest in an Australian mineral sands development project run by RZ Resources. This follows in the footsteps JX Advanced Metals of Japan who struck a similar agreement with RZ Resources earlier this year. Marubeni has agreed to pay A$15m ($9.75m) towards options that will grant it up 5% of the equity in RZ's Copi Mineral Sands Mine Project in New South Wales, as well as certain marketing rights if the feasibility of the project is confirmed. RZ, the owner of the Copi project, as well as a mineral separation...

The physical gold demand in India was subdued in this week's trading as the volatile price levels discouraged buyers and led dealers to offer steep discounts in order to attract them. In China, demand also cooled due to new tax regulations. Indian dealers are offering a discount The discount is now up to $14 per kilogram over the official domestic price, including 6% import duties and 3% sales taxes, compared to last week's up to $12. A New Delhi jeweller said that investment demand was the main driver of the market last month. But now, even investors are waiting for...

Sojitz, a Japanese company, has started importing rare earths heavy from Australia's Lynas. This is the first import of this kind produced using Australian ore that was separated and refined in Malaysia. This move is intended to ensure that Japan can obtain key materials for electric vehicles and renewable energies from other sources than China, the dominant market. Japan, the United States and their allies are working to create supply chains outside China as Beijing tightens its export controls on key minerals. Kosuke uemura, CEO of Sojitz, told reporters that the company would continue to promote diversification in the rare...

A factsheet released by the U.S. and Japan on Tuesday showed that around 20 companies have expressed an interest in projects which could contribute to Tokyo’s commitment to invest $500 billion in the United States under a trade deal. In a July deal, U.S. president Donald Trump agreed to lower tariffs on Japanese auto imports and other goods. The agreement also included a Japanese commitment to invest $550 billion in U.S. project. According to a list of possible projects, SoftBank Group, Mitsubishi Electric, and Hitachi are among the companies interested in participating. The list includes energy, AI infrastructure, and critical...

Sanae Takaichi, the new Japanese premier, gave a putter that Shinzo Abe used to use. Shinzo was his friend and former leader of Japan. The club, displayed in a case with a gold-leaf ball and bag autographed by Japanese major champion Hideki Matsuzaya, was one of many references to Trump’s bond with Abe which underpinned relations between the two countries during Trump's first term. Analysts say that Takaichi will want to rekindle the bond with Abe's protegee Takaichi who was killed by a single gunman in 2022 to help her minority government navigate any thorny matters that may arise, such...

The White House announced that U.S. president Donald Trump and Japan prime minister Sanae Takaichi signed a framework deal on Tuesday to secure the supply of rare earths and critical minerals through mining and processing. Both countries want to strengthen the supply chains of rare earths, which are used in everything from electronics to cars and renewable energy. The statement stated that the U.S., Japan, and other countries will cooperate by using economic policy tools, as well as coordinated investment, to develop a diversified, liquid and fair market for rare earths and critical minerals. China processes 90% of rare earths...

Five sources involved directly in the price negotiations said that the premium for aluminium shipments for Japanese buyers from October to December has been set at $86 per ton. This is down 20% on the previous quarter due to weak demand. This is a lower figure than the $108 paid per ton in the quarter July-September and marks the third consecutive decline. Japan is the largest Asian importer for premiums and light metals For primary metal shipments, it agrees to each quarter pay over the London Metal Exchange cash price that is the benchmark for the area. Early in September,...

Ford Motors cut its profit forecast on Thursday. The company cited the fallout of a fire that occurred at an aluminum supplier, which will affect production of some its most profitable vehicles until the end of the calendar year. Ford Motor said that a fire in September at Novelis's Oswego factory, which supplies materials for F-150 trucks, will cost it between $1.5 and $2 billion, before taxes and interests. It expects to offset around $1 billion next year. Ford CEO Jim Farley stated in a press release that he was on site with Novelis, working to source aluminum for parts...

As part of an extensive critical minerals agreement, signed on Monday to counter China's control over the industry, the United States and Australia extended financial assistance to several Australian firms. The agreement between U.S. president Donald Trump and Australian prime minister Anthony Albanese commits the two countries to investing at least $1 billion in each of the next six month's mining and processing projects, and to setting a floor price for essential minerals. This is a move that Western miners have long fought for. The governments will also support a plan announced by U.S. Aluminum producer Alcoa, to build a...

U.S. president Donald Trump said that his proposal of a 100% tariff on Chinese goods would not be sustainable. He blamed Beijing, however, for the latest impasse in negotiations which began when Chinese authorities tightened control over rare-earth exports. When asked if such a high tariff is sustainable and what this might do to the economic system, Trump responded, "It is not sustainable but that's the number." In an interview that aired on Fox Business Network, he stated that "they forced me to do this." Trump announced additional 100% levies on China's U.S. bound exports last week, as well as...

The physical gold market in Asia was very strong during this week. Prices broke multiple records and premiums in India reached their highest levels in more than a decade, ahead of the major festivals in this month. Gold prices in the spot market surpassed $4300 an ounce on Thursday for the first. They have gained 7.6% over this past week, amid renewed U.S. China trade tensions, and anticipation of a U.S. interest rate cut. This week, the domestic gold price in India reached a new record of 131 699 rupees for 10 grams. Indian dealers quoted premiums Up to $25...