Japan

Reliance Jio Platforms, owned by Indian billionaire MukeshAmbani, filed?regulatory documents for an IPO that would raise $3.8 billion. This is the largest-ever stock offer in India. The National Stock Exchange of India is preparing to launch another IPO, which will likely be worth $3.3 billion. The five biggest Indian IPOs so far: HYUNDAI MOTOR INDIANA In October 2024, Hyundai, India's largest passenger vehicle manufacturer and the third-largest carmaker in the world, raised $2.95 billion in India's largest-ever IPO. The South Korean parent company of the manufacturer sold a 17.5% share in a "pure offer for sale", where existing shareholders sold...

Saudi Arabian crude oil sales to China will likely remain at record lows this month as the high 'prices' in the wake of the U.S. and Israeli war on Iran continue to impact demand. Market participants closely monitor the allocations as a measure of Chinese demand. They indicate that refiners are reluctant to import barrels at high prices after run cuts, and because they have exhausted their domestic stocks. Saudi Aramco will ship 12 million barrels to China customers for July loading. This is about 387.096 barrels a day. Sources'requested anonymity because they weren't authorized to speak with the media....

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...

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Abu Dhabi National Oil Company notified customers that two crude grades could be 'loaded outside of the Gulf next month, as the Strait of Hormuz was closed. ADNOC is moving the crude grades Das and Upper Zakum from the terminals on Das Island (and Zirku Island) located in the Gulf, to outside locations for loading. The exports of these terminals are down dramatically as there have been fewer ships willing to cross the strait after the U.S. - Iran?war began in late February. ADNOC informed clients that it would make cargoes available to be loaded outside the Arabian Gulf on...

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...

The physical oil market is still in a state of turmoil despite a planned two-week stopfire between Iran and the United States. Brent crude oil contracts plunged as much as 16% in the early Asian trade on Wednesday, after finishing at $109.27 on Monday. The sharp drop in prices reflects relief that President Donald Trump's alarming threats against Iran civilisation to be wiped out have been postponed. This also reflects the optimism that crude, refined products and liquefied gas (LNG), may be able to resume and continue through the Strait of Hormuz if negotiations are successful. There is a rule...

Asian governments spend billions in subsidies to protect consumers from rising oil prices due to the U.S. - Israeli war against Iran. Here are some steps that governments in Asia have taken to reduce the amount of oil coming from the Middle East. The Japanese government is 'using 800 billion yen (5.02 billion dollars) from reserve funds to finance subsides aimed at maintaining gasoline prices at around 170 yen per litre. This would cost up to 300 billion yen a month. SOUTH KOREAN In late March, the South Korean?budget?ministry proposed a supplementary budget of $26.2 trillion won to help low-income...

The Iran War and the global energy crisis it unleashed could have "killed" the idea of an asset that fits all. It is not a novel concept given the poor performance of the U.S. Treasuries did well after the Russian invasion of Ukraine four years earlier. The extraordinary fall in gold prices since the U.S. and Israeli strike on Iran, February 28, has brought it into the spotlight. In times of increased economic, geopolitical or financial uncertainty, investors tend to flock to gold, Swiss franc, Treasuries and the dollar. These are the assets that will most likely serve as a...

Japan will'start releasing oil from their stockpiles? on Monday in order to ease the shock of the?U.S. - Israeli?war against Iran. This is a stark reminder to the oil crisis that occurred half a century earlier, which prompted Tokyo to build reserves. Tokyo announced that it would release 80 million barrels of crude oil to Japan, which is enough to last the nation for 45 days. The war in the Gulf has disrupted supplies through the Strait of Hormuz. The Japanese government has instructed the country's refineries to use the crude oil released, which will reduce national reserves by 17%...

The Nikkei index rose on Friday due to a rally of AI-related stocks. Also, the currency and bond markets in Japan advanced as a result of a possible reorientation in the investment strategies by Japan's large pension funds. The benchmark Nikkei 225 rose by 2% to 69,121.02 while the Topix grew by 0.76%, reaching 4,050.82. The yield on Japan’s 10-year government bonds fell by 10 basis points to 2.775%. This is a decline from the three-decade high. The yen gained 0.43% versus the dollar to 161.69. Wall Street tech shares soared after Micron Technology announced plans to invest over $250...

Five sources said that Japanese aluminium buyers paid a premium of $395 per ton between July and September. This was the highest price since 2015. The U.S./Israeli war against Iran has squeezed the supply. Japan is the largest Asian importer and benchmark for the region. Its premiums on primary metals are set at a level that exceeds the London Metal Exchange cash price each quarter. The premiums agreed to are up from $350-$353 per ton in April-June, the third consecutive increase. This is the highest since $425 between January and March 2015. As tensions ease, producers cut their offers Sources...

Japan's Topix index of stocks?climbed for the sixth consecutive day on Monday as the decline in oil prices and positive momentum in global markets boosted investor confidence. The?Topix rose?0.50%, marking its longest winning streak in August 2025. The Nikkei, heavily weighted with tech shares, was down by 0.16% at 69,630.74. Investors kept an 'alert eye' on the central bank policies. The?Federal Reserve, under its Chair Kevin Warsh signaled a hawkish position, and the Bank of Japan was expected to tighten further. The markets were also able to breathe easier due to an increase in the oil production targets and the...

According to sources with knowledge of the matter, Kawasaki Heavy Industry is preparing to issue new shares and convertible bond to fund capital expenditures. The company plans to raise 200 billion yen (US$1.23 'billion). Sources said that the company would decide the details for the issuance this week. One of the sources stated that shares and convertible bonds would be sold to primarily overseas institutional investors. The plan to raise money has not been announced earlier. Kawasaki Heavy stated in a press release that it was considering different capital strategies, including the issuance of new shares and bonds. However, nothing...

Oliver Blume, the head of Volkswagen, is planning a historic overhaul to adapt to structural changes in the global automotive market. Rising Chinese competitors, tariffs, and weak demand for cars in Europe are all affecting its business model. The crisis has increased scrutiny on Europe's largest automaker. It has been struggling for years with a complex structural design, a weak share performance, and some stakeholders' resistance to painful costs cuts. PARALYSED CONGLOMERATED Volkswagen's "governance" and "structure and ownership" are unique to the auto industry. They combine powerful unions and the billionaire Porsche-Piech family, who control the majority of the voting...

China defended its export controls on 'critical mineral supplies' and called on the Group of Seven nations to respect market economy principles and international trading rules, rather than favouring a "small clique", said its Foreign Ministry on Thursday. The comments follow an agreement made by G7 leaders Wednesday to increase coordination in order to reduce their countries' dependence on China for essential minerals, including plans to align stocks and to?expand? the role of International Energy Agency. Lin Jian, spokesperson for the foreign ministry, said that China's efforts to improve and standardise its export control system were in line with international...

Nippon Steel is the world's third largest steelmaker. Vice Chairman Takahiro Mori, the vice chairman of U.S. Steel, said that he expects the American steel market to be buoyant. This is supported by import tariffs and resilient consumer demand. "We're confident that the U.S. "We are confident that?U.S. He predicted that U.S. Steel will generate a profit of between 300 billion and 400 billion yen per year in the long term. Mori described U.S. market conditions as favourable. Hot-rolled steel sheets are priced at more than $1,200 per ton. This is double what they cost in Asia. U.S. steel reopened...

The demand for gold in India increased slightly this week, as jewellery buyers were attracted by lower prices, despite caution. In China however, premiums eased. The price of gold in India fell to its lowest level since April 2, at 146.444 rupees for 10 grams, on Thursday. It is down 1.5% this week. Chanda Venkatesh said that the demand for gold increased after the recent price correction, especially jewellery buyers. Dealers quoted discounts Discounts of up to $35 per ounce, including 15% import duties and 3% sales taxes, compared to last week's discount of up to $87.5. Although jewellers are...

Jim Anderson, the CEO of Coherent, a chipmaker backed by Nvidia in an earnings call early in May, warned about a shortage of Indium Phosphide. A U.S. delegation of businessmen accompanied President Donald Trump to China. Three sources with knowledge of the matter said that Anderson's trip was to highlight the delays in China's licensing for the export of the high-speed optical chip needed in the manufacturing of AI data centres. According to two U.S. officials and a person who was briefed about the talks, the issue was also raised during the Seoul talks between the top 'trade negotiators' of...

Japan's Nikkei?average fell on Wednesday, as investors shifted away from?highly-priced technology stocks that are sensitive to energy prices due to renewed Middle?East tensions. The benchmark?Nikkei?225 Index fell 1.89%, closing at 64,179.27. This is a reversal of the 2.1% gain in the previous session. The Topix index fell 1.25%, to 3,847.60. The United States launched attacks against?Iran in retaliation of the downing a military 'helicopter on Tuesday, which deepened doubts about a possible peace deal. The 'Gulf Crisis' caused Japanese wholesale inflation rates to rise at the fastest rate in three years, pushing up domestic bond yields. "Declines are ?centred on...

Japan's Nikkei average fell on Wednesday as investors shifted away from high-flying technology stocks that are sensitive to energy prices. The 'benchmark' Nikkei 225 Index fell 1.1% to 64,700.89. This was a reversal of the 2.1% gain in the previous session. The Topix index fell 0.69% to 3,586.34. In retaliation to the?downing a military chopper, the United States launched strikes against Iran Tuesday, which has deepened doubts about a possible?peace agreement. The data showed that the Gulf Crisis caused wholesale Japanese inflation to accelerate to its fastest rate in three years. This added upward pressure to domestic bond yields. "Declines...

Three sources with knowledge of the matter said that Sumitomo Corp provided financing to buyers of its 54% stake in Madagascar’s Ambatovy Nickel operation. This helped the company exit the losing project. Three sources familiar with the matter said that Sumitomo Corp, which invested $3 billion over 20 years in Ambatovy and has incurred $2.5 billion cumulative losses, provided financing to buyers of its 54% stake in Madagascar's Ambatovy nickel operation, smoothing their exit from the loss-making project. Sumitomo funded this transaction, while still retaining certain nickel offtake rights. "It needed someone to solve the problem for them," said one...