South-East Asia

Pertamina, the Indonesian state energy company, said that Vivo Energy Indonesia, a private retailer, has agreed to purchase 40,000 barrels out of 100,000 barrels imported by Pertamina to relieve fuel shortages in private retailers. Shell, BP AKR – the operator of BP’s fuel stations – Vivo and other companies ran out of supplies this month after more customers sought them out following a report on the quality of Pertamina’s gasoline. In order to alleviate the shortages, the government has allowed private retailers to import additional fuel via Pertamina. Vivo has agreed to an inter-business agreement with Pertamina. Vivo will take...

The dollar grew after Federal Reserve chair Jerome Powell failed to confirm investors' expectations of U.S. rates falling sharply in the coming months. After U.S. president Donald Trump stated that he believes Ukraine can retake the land it has been occupied by Russia in a dramatic shift of rhetoric, in favour of Kyiv, European defence stocks rose. After seeing the economic trouble that the war is causing Russia I believe Ukraine with the support from the European Union is in a good position to fight and win all of Ukraine in its original state," he wrote in a post on...

The stock market in Asia recovered on Wednesday after Wall Street's losses. A renewed interest in artificial intelligence and semiconductors fueled China's tech rally. MSCI's broadest Asia-Pacific share index outside Japan reversed an earlier decline by as much as 0.5% in the morning session, to be up by 0.1% at mid-afternoon. Chinese stocks were the leaders, with the STAR 50 Index up 3.6% and a measure of Hong Kong listed companies rising 1.5%. Alibaba's Hong Kong listed shares increased by up to 7.8% following the announcement on Wednesday of its largest AI model ever, the Qwen3 Max. UBS analysts stated...

The stock market in Asia dropped on Wednesday following the declines on Wall Street, as comments by Federal Reserve chair Jerome Powell provided little insight into future interest rate trends and economic data fueled concerns about slowing global growth. MSCI's broadest Asia-Pacific index outside Japan fell 0.4% at mid-morning trading, after U.S. shares ended the previous session with a lower close. The S&P500 was down by 0.6%, its largest one-day drop in three weeks. Australian shares, down 1% in the region, extended losses following a larger-than-expected increase in consumer prices for August. U.S. futures for stocks were flat. After two...

The stock market in Asia started the day with a downturn on Wednesday after Wall Street saw a decline overnight. This was due to comments made by Federal Reserve chair Jerome Powell, who gave few hints about the future of interest rates. MSCI's broadest Asia-Pacific index outside Japan fell 0.2% early in the morning after U.S. shares ended their previous session with a lower close. The S&P500 was down by 0.6%. This is the biggest single-day drop in three weeks. Australian shares were the first to fall in early Asian trading, down 0.7% before today's release of CPI figures. Japan's...

The euro markets fell on Monday as automakers warned of their profit. Meanwhile, the dollar remained steady, as the markets waited to determine if geopolitical worries would offset the optimism about the Federal Reserve's loosening monetary policy. The STOXX 600 index for Europe was little changed. Spanish and German stocks were down by 0.6% and 0.50%, respectively. Both Porsche and its parent Volkswagen cut their profit estimates after announcing a delay in the launch of EVs due to low demand. The MSCI world stock index was little changed, while India's benchmark fell 0.2%, after the Trump Administration announced that it...

The dollar and Asian stocks both steadied Monday as markets assessed the Federal Reserve's policy after last week's rate cut. Meanwhile, President Donald Trump's crackdown on immigration for worker visas held back sentiment. India's benchmark stock index fell after the Trump Administration announced on Friday that it would require companies to pay $100,000 to obtain new H-1B visas. This is a blow for the tech sector, which relies heavily on skilled workers in India and China. U.S. Stock Futures eased, with S&P Futures down by 0.1%. European Futures showed a subdued opening. The broadest MSCI index of Asia-Pacific stocks outside...

The global stock markets were choppy Thursday, after the Federal Reserve announced its first rate reduction this year. However, the Fed signaled a measured approach for further monetary policy ease. This left investors uncertain about the pace of future movements. MSCI's broadest Asia-Pacific share index outside Japan fell 0.1%, as the benchmark was impacted by declines in New Zealand and Australia markets. Chinese stocks fluctuated between gains and losses. However, there were signs of strength on some markets. U.S. stock futures rose 0.4% following a mixed session overnight on Wall Street, while South Korean shares soared by 0.8%, and Taiwanese...

The global stock markets rose on Thursday, after the Federal Reserve lowered interest rates. However, investors were cautious after the world's largest central bank indicated a measured approach towards further monetary policy ease. U.S. equity contracts advanced by 0.3% after an uneven session overnight on Wall Street. Shares in Korea and Taiwan, which opened around 0.7% higher, led the gains in Asia. Japan's Nikkei 225 tacked on 0.3%. The MSCI broadest Asia-Pacific share index outside Japan edged down 0.1% as the declines in Australian markets and New Zealand weighed on this benchmark. The global stock market fell on Wednesday, after...

Asian shares were near their four-year-highs on Monday, ahead of a week of action that will likely see the U.S. Federal Reserve resuming its easing cycle and possibly leaving the door open for a series cuts. Bank of Canada and Bank of England are also meeting this week and both are expected to keep rates the same. The EUROSTOXX futures are 0.3% higher. S&P 500 and Nasdaq Futures both rose by 0.1%. The markets are priced in for a 25 basis point Fed easing, bringing its funds rate down to 4.0-4.25%. Futures indicate a mere 4% chance that the Fed...

Asian stocks followed Wall Street higher Wednesday, while bonds fell. Traders increased their bets on the possibility that the Federal Reserve would cut rates next week by at least one quarter point due to a softening of U.S. labor market conditions. The dollar is also rising, as the U.S. Inflation figures will be released on two days, beginning later Wednesday. These data are crucial for the Fed to make its September 17th decision. After Israel's attack against Hamas leaders in Qatar, crude oil prices remained high. Geopolitical concerns remained at the forefront of investors' thoughts after Poland and NATO scrambled...

Asian stocks followed Wall Street higher Wednesday, while bonds fell. Traders increased their bets on the possibility that the Federal Reserve would cut rates next week by at least one quarter point due to a softening of U.S. labor market conditions. The dollar is also rising, as the U.S. Inflation figures will be released on two days, beginning later Wednesday. These are the last data that will inform the Fed’s decision of September 17. Crude oil prices remained high after Israel's attacks on Hamas leaders in Qatar. The Nikkei 225 index in Japan rose 0.3%. South Korea's KOSPI increased by...

Shanghai tin reached a six-month high Tuesday as supply concerns grew following reports about a crackdown against illegal mining in Indonesia, a key producer. The Indonesian president Prabowo Subito ordered the closing of 1,000 illegal tin mining operations on the island Sumatra where tin-mined goods were being smuggled on small boats and ferryboats, according to state media Antara. Antara quoted Prabowo as saying that 80% of the tin produced in the main producing region of Bangkia Belitung, off the east shore of Sumatra, was being smuggled abroad. Fears of a lower supply in the second largest tin-producing country in the...

On Monday, tin prices reached their highest level in nearly six months as fears of a shortage of supplies were sparked by reports of an Indonesian crackdown on mining. The Indonesian president Prabowo Subianto has ordered the closing of 1,000 illegal tin mining operations in Bangkia Belitung, a key region for tin production off the east coast Sumatra. Tin was being smuggled on small boats and ferryboats. "There are 1,000 illegal mines in this region." "I ordered the related parties to launch a large-scale operations in Bangka Belitung starting September 1 and shut down almost 80% of smuggled Tin," Prabowo...

Lithium Argentina’s Cauchari-Olaroz Project in northern Argentina aims to produce 85,000 tons of battery metal per year by 2029. This is more than triple the output last year, according to Executive Vice President Ignacio Celorrio. This is one of six projects in Argentina that produce lithium, which is used to make batteries for electric cars. Lithium Argentina (listed in Canada and the U.S.) and Ganfeng Lithium, a Chinese company, are developing Cauchari-Olaroz in the Lithium Triangle, which spans Argentina and Chile, as well as Bolivia. Celorrio, speaking on the sidelines a lithium-related conference in Buenos Aires on Tuesday, said that...

The IPO market in Vietnam is booming, thanks to a stock rally, regulatory reforms and a credit boom, but it has not attracted new interest from foreign investors despite FTSE Russell's potential upgrade of the index. Techcom Securities, an arm of Techcombank, raised $410m last week, which represents a valuation of $4billion. This is one of the largest IPOs in Vietnam over the past few years. According to data provider LSEG Workspace, that was nearly half of the combined value of 36 IPOs in Malaysia this year, Southeast Asia's biggest IPO market based both on value and the number of...

Restu Widiyantoro, the chief executive of Indonesia's state-run tin mining company PT Timah, told a parliamentary committee on Monday that despite a weak first half production, he is confident it will reach its target output of 21,500 metric tonnes this year. He said that a taskforce, which will crack down on illegal mining of tin in Timah’s mining zone, is expected to assist the company achieve its goal. Data from the company showed that in the first half of this year, Timah’s tin ore production dropped 32% on an annual basis to 6,997 tonnes, and its refined tin output fell...

A spokesperson from Norges Bank Investment Management, the fund's operator said that Eramet, a French mining company, was excluded from its portfolio due to ethical reasons. According to data from the fund, as of 30 June, it held a stake in Eramet valued at $6.8 millions. Eramet didn't immediately respond to a comment request. The Council on Ethics of the fund, which is its ethics watchdog, recommended the divestment due to Eramet’s participation in Indonesia’s PT Weda Bay Nickel, where Eramet is the operator of mine. The Council on Ethics recommended that Eramet SA should be excluded. "There is an...

Rilke Jeffreyri Huwae, an official from the mining ministry, said that a task force in Indonesia seized a 148 hectare area (366 acres) of PT Weda Bay Nickel because it did not have the necessary forestry permits. The government is targeting illegal mining operations as part of an overall crackdown. Last month, President Prabowo said that the government had identified more than 1,000 illegal mining operations. Rilke stated that PT Weda Bay Nickel holds a mining permit but does not have the forestry licence required to exploit the region. The nickel-rich Halmahera island is home to the Weda Bay Nickel...

Vietnam is planning to open a gold online exchange, allowing companies to import gold, for the first decade, starting next month. This will be part of efforts to stabilize domestic prices which are increasing at an alarming rate. Local economists say the move is intended to balance gold supply and demand. It could also be used to mobilize private resources in order to boost economic growth. State media quoted a central banking official on Thursday as saying that the State Bank of Vietnam is studying international experiences to set up the exchange. According to a report in the Dan Tri,...

The Indonesian miner PT Merdeka Copper Gold Tbk announced on Monday that its gold mining division has received approval from the regulator for bookbuilding in preparation for an initial public offer to raise up to 4.9 trillion rupiah (300.6 million dollars). PT Merdeka Gold Resources said it plans to issue up to 1.6 billion shares at the IPO scheduled on September 17-19. Statement said that the company would use the proceeds to pay off debts and fund its gold mining, processing and manufacturing business. The company's flagship mine, Pani Mountain in Sulawesi, is estimated to contain 7 million ounces gold....

As the market waits for the Man Maw Mine to return in Myanmar, tin continues to outperform other base metals on the London Metal Exchange. Two years have passed since the mine was shut down for a resource assessment. Six months have passed since the authorities of the semi-autonomous Wa State invited new applications for mining permits. There is still no sign of a significant increase in activity. The flow of tin concentrats from Myanmar into neighbouring China is almost completely dry. The uncertainty surrounding Man Maw led to a resurgence of fund interest in tin, which pushed the LME...

Iron ore futures were in a tight range on Friday but were expected to gain weekly, supported by a steady demand from the top consumer China, and declining inventories. The January contract for iron ore on China's Dalian Commodity Exchange closed the daytime trading 0.77% higher, at 787.5 Yuan ($110.10) per metric ton. This represents a 2.3% weekly increase. As of 0814 GMT the benchmark October iron ore price on Singapore Exchange was down by 0.53%, at $103.55 per ton. However, it has gained 3% this week. The demand for this key ingredient in steelmaking remained strong despite the production...

Malaysia said that China is willing to offer technical and technological assistance to Malaysia in the rare earths industry, but it only wants to work with state-owned companies. Malaysia is working to improve its rare earths processing and mining capabilities to capitalize on the growing global demand for these critical minerals, which are used in many products such as semiconductor chips, electric cars, and military equipment. China, which is the top rare earth miner and processor in the world, has tightened export restrictions to protect its position. Malaysia's Natural Resources and Environmental Sustainability minister Johari Abdul Ghani stated in a...