Key insights
- Ukrainian President Zelenskyy is heading to the UK for talks on fresh support amid ongoing conflict. Meanwhile, Taiwan has agreed to purchase 30% of gas from a proposed Alaska LNG project, according to U.S. President Trump. China's producer prices rose significantly, indicating regional growth. ASML reported customer interest in semiconductor tools for 2029-2030, driven by AI demand.
In this article
Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
Hello, this is Justina Lee writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.
Taiwan has agreed to purchase 30% of gas sourced from a proposed liquefied natural gas project in Alaska, according to U.S. President Donald Trump.
The latest economic data coming out of Asia on Wednesday offers clues to the region’s growth outlook, with China’s producer prices rising at its fastest pace in over four years.
Meanwhile, over in Europe, the U.K. is set to host Ukrainian President Volodymyr Zelenskyy.
U.S. President Trump said at a rally that Taiwan has agreed to purchase 30% of gas sourced from a proposed liquefied natural gas project in Alaska, adding that the deal “guarantees a success.”
Trump has been increasing pressure on South Korea to participate in the project, cautioning earlier that he would charge the country more and threaten to double charges if Seoul failed to sign soon. South Korean media outlets speculated that Trump was referring to higher tariffs.
U.K. Prime Minister Andy Burnham is set to host Ukrainian President Volodymyr Zelenskyy as European leaders rally to show support for the country. Zelenskyy will reportedly meet with EU leaders on Friday, on the second day of the European Council summit.
Burnham is expected to tell Zelenskyy that he has asked his ministers to draw up further sanctions, military support and fiscal packages to provide urgent support in the coming weeks.
It comes after Russia unleashed an attack on Ukrainian energy infrastructure overnight, leaving at least 600,000 people without power in the Kyiv and Kharkiv regions.
ASML, a bellwether for the global chip industry, posted its third-quarter results on Wednesday. The Dutch semiconductor equipment maker said that some of its customers are expressing interest in placing orders for its critical semiconductor tools for 2029 and 2030 as AI demand remains buoyant.
The comments will likely comfort investors who have been looking to assess the longer-term demand outlook for ASML’s lithography machines.
On Wednesday, traders continue to digest the latest economic data coming out of Asia, as they look for clues about the region’s economic outlook.
China’s producer prices in September rose at its fastest pace in over four years, due to higher fuel prices driving costs up for businesses.
Data out of Singapore on Wednesday showed that GDP growth softened to 5.4% in the third quarter, after hitting a four-year high in the prior quarter. A decline in the city-state’s manufacturing sector contributed to the slowdown, though this was offset by an expansion in the construction sector.
Over in the Philippines, the country’s central bank is bracing itself for a “Godzilla” El Niño, which is exacerbating the effects of a prolonged oil shock, as it tries to tame inflation from three-year highs.
Meanwhile, Korean automaker Hyundai Motor revealed it is planning a “strategic” $15.5 billion investment in the country by 2032. The company said India is a strategic core market to the firm’s emerging-market growth and expansion plans.
In the oil markets, Brent and WTI prices rose Wednesday amid concerns over supply disruptions as tensions in the Middle East continue to heat up between Iran-backed Houthis and Saudi Arabia.
Judge indefinitely blocks Trump White House from banning 3 media outlets
A federal judge in Washington, D.C., late Tuesday night issued an order indefinitely blocking the White House from enforcing the ban on three media outlets announced by President Donald Trump in mid-September.
The preliminary injunction by Judge Timothy Kelly extends his existing block on Trump’s ban of MS NOW, CNN and Politico from the White House complex.
Kelly, in a written opinion, said the three outlets were likely to succeed on a claim in their lawsuit challenging the ban that they were denied due process by Trump having summarily ordered them barred from the White House without a chance to argue against that action first.
— Dan Mangan