Investors on edge as tensions over tariffs and inflation data keeps investors on edge
Investors remained 'cautious' ahead of important?domestic data and sought clarity about the latest tariff salvo. The S&P/ASX 200 index closed little changed at 9.022.30 points. The benchmark index had closed 0.6% lower Monday. Local markets remained in a wait-and see mode after U.S. president Donald Trump warned that he would increase duties on countries who reneged on recently negotiated trade deals. . Reserve Bank of Australia, the only major central banks outside of Japan to tighten their policy this year is driven by expectations of inflation running above its target band. Tim Waterer is the chief market analyst for KCM Trade.
Take Five GRAPHIC: Giddy up
As the year of fire horse dawns, much of Asia will celebrate the Lunar New Year. This rare combination is said to combine elements of energy and volatility. The markets will be looking for the first from the consumer leader Walmart, and the second from the earnings of European miners. The week will be filled with UK data and leading economic indicators. Indonesia is also facing a crucial central bank decision. Here is everything you need to 'know' about the upcoming week in financial markets from Gregor Stuart Hunter, based in Singapore, Lewis Krauskopf, based in New York and Amanda Cooper and Samuel Indyk, residing in London.
Contact Energy, NZ to raise $317 Million to fund renewable energy projects
New Zealand's Contact Energy announced on Monday that it will raise NZ$525m ($317m) in new equity to fund an array of renewable energy projects. The company is accelerating its growth as part of its long-term, "Contact31+" strategic plan. Contact stated in a press release that the fundraise included a fully-underwritten NZ$450,000,000 institutional placement as well as a non underwritten retail offer?of up NZ$75,000,000. Around 60 million new shares will be sold at NZ$8.75 each, which is an 8.8% reduction from Friday's closing price.
Take Five: Giddy up
As the year of fire horse dawns, much of Asia will celebrate the Lunar New Year. This rare combination is said to combine elements of energy and volatility. The markets will be looking for the first from the consumer bellwether Walmart, while the commodity markets are likely to see the latter. The UK's data and leading economic indicators are coming in this week, and Indonesia is facing a crucial central bank decision. Here is all the information you need to know for the upcoming week of financial?markets from Gregor Stuart Hunter, Lewis Krauskopf, in New York and?Amanda Cooper in London, Samuel Indyk, and Karin Strohecker.
New Zealand to build LNG import facility for energy security
Simon Watts, New Zealand's Energy Minister, announced on Monday that the country has selected contractors to build a LNG import facility. This will boost energy security and provide a reliable backup source of power, as well as support economic growth. By the middle of the year, the government hopes to sign a deal for an LNG import facility to be built in Taranaki on New Zealand's North Island. The facility will be ready in 2027, or even earlier in 2028. The model allows LNG to be imported only in large quantities and when required, thus limiting the exposure to global gas prices.
New Zealand to build LNG import facility for energy security
Simon Watts, New Zealand's Energy Minister, announced on Monday that the country has selected contractors to build an LNG import facility. The facility will bolster energy security and provide a reliable source of backup power, while also supporting economic growth. By the middle of the year, the government hopes to sign a deal for an LNG import facility to be built in Taranaki on New Zealand's North Island. The facility would be ready in 2027 to receive LNG. The model allows LNG to be imported only in large quantities and when required, thus limiting the exposure of global gas prices.
Rio records record for Glencore exit, but banks and miners are sapping Australian shares
Australian shares continued to fall on Friday, as an index-wide sale led by banks and miners saw a decline in the market. Rio Tinto reached its highest level to date after abandoning discussions with Glencore about creating what would have been the world's biggest mining company. S&P/ASX 200 index fell 1.6% by 2320 GMT to 8,748.50, setting the stage for its worst session since November. The benchmark fell by 1.3% during the week and is on track for its biggest loss since mid-November. The mining stocks continued to decline for a second day in a row, in conjunction with the?persistent drop in precious and base metal prices.
Ecoceres CEO: New Malaysian plant nearing full capacity at new biofuels firm Ecoceres
Ecoceres, a biofuel producer in Malaysia, said that its new plant for converting used cooking oil to sustainable aviation fuel was running at nearly full capacity. The plant is located at Tanjung Langsat, Johor Bahru, near Singapore, and produces up to 420,000 tons of SAF per year, as well as hydrotreated vegetable oils, also known as renewable fuels, as well as bio-naphtha. Ecoceres 'CEO Matti Lievonen stated at the inauguration of the plant that it is operating at 95% capacity. Ecoceres - jointly owned by Hong Kong City Gas Company Towngas and U.S. based Bain Capital -?exported their first SAF cargo in December to Europe.
Australian shares drop as miners and banks fall on holiday thin trade
Australian shares dropped on Monday. The final trading week of the year began on a quiet note as banks and miners led the losses. They eased from recent highs, as holiday turnover exaggerated movements across the market. Investors returned to the market after their Christmas and Boxing Day holidays, and turnover was about half of its 30-day average. The index is up more than 7% for this year, and it's on track to achieve a third consecutive annual increase. It has risen by roughly 24% from 2022 when the last time that it logged a decline in a single calendar year.
Australian shares continue to fall on the back of the mining slump, Woodside falls on CEO's surprise departure
The Australian share market was set to record a fourth consecutive day of losses, led by the miners. Meanwhile, energy stocks fell as Woodside Energy dropped after it announced its departure. As of 2322 GMT, the S&P/ASX 200 was down 0.2% at 8,567.70. The benchmark closed Wednesday 0.2% lower. Woodside Energy's stock fell as much as 2,6%, its lowest level for nearly two months, after the Australian firm announced that Chief Executive Officer Meg O'Neill will be joining BP as executive director. The sub-index for energy fell as much as 1.5% and reached its lowest level since October 22.
Woodside and East Timor target first LNG from Greater Sunrise by 2032
East Timor and Australia's Woodside Energy have agreed to investigate sending gas from large, undeveloped Greater Sunrise field to a new plant that will produce liquefied gas in Southeast Asia. The plant could begin exporting gas in seven years. In a Tuesday joint statement, Woodside and East Timor’s Petroleum and Mineral Resources Ministry said that the agreement requires the two parties to examine the commercial and technological viability of a 5 million-metric-ton LNG project. The plan is to begin production as soon as 2032-2035. This is the first time that the two sides have given a possible start date.
Australian shares are on the rise as sectoral strength offsets the banking slump
Australian shares traded within a narrow range Wednesday as investors held back their risk appetite due to waning expectations for additional monetary policy ease. S&P/ASX 200 index remained at 8,474.50 as of 2320 GMT but is still down about 7% from its all-time high reached on October 21. The benchmark index ended Tuesday at a low of five months. Since the Reserve Bank of Australia held interest rates constant earlier this month, the main index has been in a downward trend. A positive jobs report released last…
Australia shares are up as lithium miners shine but tech stocks hold gains.
The benchmark index of Australian shares rose a little bit on Wednesday, as lithium stocks led the rally in commodities stocks. A slump in technology stocks dampened the gains. By 2352 GMT, the S&P/ASX 200 Index rose by 0.2% to 8,836.90. The benchmark index ended Tuesday 0.2% lower. Copper prices have pushed domestic miners to their highest levels since October 22. Mineral Resources, a lithium miner, also gave the sub-index a boost. Its stock rose 10.8% and reached its highest level since 10 October 2024. The miner signed a deal to sell 30% of its operational lithium business to South Korea's POSCO.
Australian shares increase as resources improve, ANZ rebounds
Australian shares rose on Monday. Resources stocks gained due to higher underlying prices, and the lender ANZ Group recovered from its early losses despite reporting a decline in annual cash profits. As of 2321 GMT, the S&P/ASX 200 was up 0.3% to 8,799.50. The benchmark index ended Friday 0.7% lower. Andrew Hauser, Deputy Governor of the Reserve Bank of Australia, said that the country's monetary policies are facing an unusually difficult challenge. He stressed the importance of maintaining a tight policy to control inflation, which, according to projections, will remain above the target level until mid-2026.
Australian shares rise as miners and financials gain on the easing of US-China trade tensions
Australian shares rose Monday as signs of easing U.S. China trade tensions boosted risk sentiment worldwide. However, investors' caution before key domestic inflation data which could undermine bets on a rate cut in the near future capped gains. The S&P/ASX 200 Index rose by 0.41%, to 9,055.60 indices. Financials and miners, the two sectors that are heavily weighted on the benchmark index, were the main contributors. China is Australia's biggest trading partner, and it is a major buyer of iron ore and coal, among other commodities. This makes its economic ties crucial to the resource-rich bourse.
Woodside rallies to cap losses; miners and tech drag Australian shares down
Australian shares dropped for the second session in a row on Thursday. Mining and tech stocks were to blame, but losses were mitigated by Woodside Energy's surge following new investment in Louisiana LNG. S&P/ASX 200 Index fell 0.4% at 8,993.5 by 0002 GMT. The benchmark closed Wednesday 0.7% lower. After three sessions of gains, technology stocks dropped by 1.2%. U.S. stocks closed lower overnight after a wave mixed earnings reports from corporates dampened sentiment. Block Australia shares dropped 2.3% while WiseTech, a software services provider, fell 1.3%.
Cricket-New Zealand Santner and Ravindra return to England T20 Series
The national cricket body, NZC, said that the return of Mitchell Santner, New Zealand's regular white-ball captain, and Rachin Ravindra, an all-rounder, will give New Zealand a boost in the three-match Twenty20 match series this month against England. However, Williamson will not be playing, a key batter, according to the NZC. Santner, Ravindra and Michael Bracewell were all absent from the T20 series played against Australia in the first half of this month. Ravindra missed the T20 series against Australia earlier this month due to facial injuries, while Santner recovered from abdominal surgery.
South Africa coal heartland is home to a small solar city
Even though the locals are coughing up grey smog, coal keeps them at work, heats their homes during winter, and cooks dinner. Now, however, things are slowly beginning to change. South Africa, one of the largest coal exporters in the world, has launched a plan that will wean itself off coal pollution and embrace green industries to create jobs. Solar bricks - stackable lithium-ion batteries charged by sunlight - are used to power lights and mobile phones in almost every Nomzamo home. Nomzamo, despite only having 412 households in its program, sees it as the beginning of a major green shift for the country.
New Zealand Government to support energy companies' investments in critical infrastructure
The New Zealand Government announced on Wednesday it will financially support investments by energy companies to build critical electricity infrastructure. The government owns 51% of the former state-owned power generators Genesis Energy Mercury and Meridian. New Zealand's energy prices are rising as the supply is tightening. This has put energy generators on the radar. In a press release, Finance Minister Nicola Willis stated that she wrote to three electricity generators informing them that the government was prepared to fund capital requests for investments that are strategic and commercially logical to promote energy security.
Australian shares fall as central bank keeps rates unchanged
The Australian share market fell on Tuesday, as financials and energy stocks were dragged down after the central banks kept interest rates unchanged as expected. They also struck a cautious policy tone that tempered risk appetite while clouding short-term easing expectations. The S&P/ASX 200 Index fell 0.2% to 8,848.8 after earlier rising up to 0.3% at a high of four weeks. The benchmark ended a five-month streak of gains, dropping 1.4% in the month of September. This was its worst performance since March. Reserve Bank of Australia has left its key rate at 3…