Global Pulse

标签： Asia

亚洲

  • US stocks fall while a break in gold fever sends metals prices plunging

    US stocks fall while a break in gold fever sends metals prices plunging

    NEW YORK — Wall Street experienced significant volatility on Friday as investors grappled with the implications of President Donald Trump’s nomination of Kevin Warsh to chair the Federal Reserve, triggering dramatic swings across multiple asset classes.

    The S&P 500 declined 0.4%, recovering from an earlier 1.1% plunge, while the Dow Jones Industrial Average dropped 179 points (0.4%). The technology-heavy Nasdaq composite suffered the steepest losses at 0.9%. The U.S. dollar demonstrated considerable instability before ultimately strengthening, reflecting market uncertainty regarding future monetary policy directions.

    Precious metals markets witnessed particularly extreme movements, with gold prices collapsing 11.4% to settle at $4,745.10 per ounce—a dramatic reversal following its remarkable 12-month rally that had seen prices approximately double. Silver experienced even more severe declines, plummeting 31.4% after its own spectacular rally.

    The nomination has ignited intense scrutiny regarding the Federal Reserve’s future independence, a cornerstone of central banking that allows for politically difficult but economically necessary decisions. Warsh, a former Fed governor, brings established credentials but also represents Trump’s preference for lower interest rates, creating tension between presidential influence and central bank autonomy.

    Market analysts offered contrasting interpretations. Some viewed Warsh’s Fed experience as reassuring for institutional independence, while others noted his recent criticisms of current Chair Jerome Powell and alignment with Trump’s monetary policy views since 2009. Thierry Wizman, Macquarie Group strategist, observed that while Warsh might not immediately push for rate cuts, he could prove more amenable to presidential preferences when economic conditions change.

    The metals sell-off battered mining stocks, with Newmont declining 11.5% and Freeport-McMoRan dropping 7.5%. These reversals followed massive rallies driven by investors seeking safety against multiple concerns: potential Fed politicization, elevated stock valuations, trade tariff threats, and soaring global government debt.

    Market losses were partially mitigated by strong performances from major technology companies. Tesla rebounded with a 3.3% gain after better-than-expected quarterly profits, while Apple added 0.5% following its own strong earnings report.

    Bond markets saw the 10-year Treasury yield edge up to 4.25%, with upward pressure coming from hotter-than-expected wholesale inflation data that might compel the Fed to maintain current interest rates rather than implement cuts.

    International markets showed mixed performance, with European indexes generally advancing while Asian markets varied. Indonesian stocks rose 1.2% following the resignation of the country’s stock exchange CEO after recent transparency concerns.

    The nomination now awaits Senate confirmation, leaving markets to weigh the balance between established Fed traditions and presidential influence over critical interest rate decisions.

  • Nation gears up for Spring Festival rush

    Nation gears up for Spring Festival rush

    China is mobilizing its entire transportation network for what officials project will be the largest Spring Festival travel migration in history, with an anticipated 9.5 billion cross-regional trips during the 40-day chunyun period from January 30 to March 13. This massive annual movement, which reunites families across the nation, represents both a logistical triumph and an unprecedented challenge for infrastructure systems.

    According to Li Chunlin, Deputy Head of the National Development and Reform Commission, this year’s travel surge involves coordinated efforts across more than 20 government departments working to ensure smooth and safe transportation for millions. The travel landscape continues to evolve, with self-driving journeys maintaining dominance at approximately 80% of all trips. Railway and aviation sectors are preparing for record volumes of 540 million and 95 million passengers respectively, with both overall travel numbers and single-day peaks expected to surpass previous records.

    Railway authorities are implementing significant capacity expansions, with China State Railway Group’s Zhu Wenzhong announcing that 22 new lines spanning over 3,100 kilometers and more than 50 stations will participate in their first Spring Festival rush. Nearly 1,000 additional high-speed trains will operate overnight along major corridors to alleviate congestion, while peak days will see over 14,000 passenger trains in service—a 5.3% year-on-year increase in seating capacity.

    The travel period coincides with a nine-day national holiday from February 15-23, creating distinct travel patterns. While outbound journeys are expected to be relatively dispersed due to staggered university winter breaks, return trips are anticipated to be heavily concentrated as educational institutions reopen and factories resume operations.

    Tourism continues to shape travel flows, with northern ice-and-snow destinations and southern beach resorts attracting significant numbers alongside growing international travel. Civil Aviation Administration’s Xu Qing noted evolving patterns including ‘reverse travel’ where parents visit adult children, and hybrid trips combining family visits with leisure travel.

    Airlines are responding with over 19,000 daily flights focused on tourist hotspots and major hubs, while enhancing transfer options for travelers from smaller cities. Special services including dedicated check-in areas, in-flight amenities, and flexible baggage options will accommodate passengers traveling with children or elderly relatives.

    Road transportation will see toll-free passage for small passenger vehicles throughout the holiday period, while key ferry routes including the Qiongzhou Strait in Hainan will receive additional support. The surge in electric vehicles—now numbering nearly 44 million nationwide—has prompted infrastructure enhancements with over 71,000 charging connectors available in highway service areas, supplemented by mobile chargers and real-time updates to prevent congestion.

  • Appleby sets the standard as history and class collide at Dubai Racing Carnival

    Appleby sets the standard as history and class collide at Dubai Racing Carnival

    The Dubai Racing Carnival at Meydan Racecourse prepares for an electrifying eight-race program this Friday, with Godolphin trainer Charlie Appleby emerging as the dominant force. Appleby’s stable demonstrates exceptional form heading into the event, saddling the favorite in six of the eight contests while boasting a remarkable 25% strike rate this season with nine victories from 36 runners.

    The evening’s centerpiece, the Group 3 Dubai Millennium Stakes sponsored by DP World, carries profound historical significance as it honors Godolphin’s legendary 2000 Dubai World Cup champion. Appleby has astonishingly captured this prestigious event nine times, including the last seven consecutive renewals. This year, he fields a powerful duo featuring By The Book, recent winner of the Dubai Racing Club Classic, and Arabian Light, fresh from victory in the Zabeel Turf.

    International challengers seek to disrupt Appleby’s dominance, with Irish trainer Gerard Keane presenting Crystal Black for his UAE debut and British handler David Simcock testing new acquisition Chibitty. The competitive Listed Dubai Sprint showcases Dark Saffron’s return to turf following disappointing dirt performances, while Appleby’s Symbol Of Honour makes his seasonal debut in what trainers describe as a preparatory event.

    The Mawj Stakes embodies the Carnival’s international spirit with participants from Spain, Sweden, Denmark, Czechia, France and the UK competing alongside local contenders. Appleby’s Dance To The Music drops in class after Group 1 competition in Britain, emerging as the clear favorite among the fillies’ contest.

    The program commences with the Jumeirah Guineas Trial, where emerging three-year-olds including Simon and Ed Crisford’s Title Role test their Classic potential. The evening promises a compelling blend of established champions and rising talent across multiple racing disciplines.

  • How US sanctions and external threats destroyed Iran’s economy

    How US sanctions and external threats destroyed Iran’s economy

    In a stark declaration of foreign policy, US Treasury Secretary Scott Bessent outlined the Trump administration’s uncompromising stance towards Iran in a March 2025 address to the New York Economic Club. The stated objective, encapsulated in the phrase ‘Making Iran Broke Again,’ represents a significant escalation beyond the strategies of both previous and successive administrations, including Democrat Joe Biden’s.

    This aggressive sanctions regime, described by former US State Department sanctions official Richard Nephew as a tool to extract ‘nuclear concessions, regional proxy concessions, and missile concessions,’ has fundamentally reshaped Iran’s economic landscape. Data reveals a devastating impact: Iran’s GDP per capita plummeted from $8,000 to $5,000 between 2012 and 2024, with the economy contracting by approximately 6-7% annually following the 2018 reimposition of sanctions after the US withdrawal from the JCPOA nuclear deal.

    The human cost is profound. Sina Azodi, an assistant professor at George Washington University, detailed the consequences: ‘Unemployment has gone up. Inflation has gone up. The price of medical treatment, especially for cancer, has gone up.’ The recent collapse of a local bank and the Iranian rial hitting a historic low of 1.5 million to the US dollar have further fueled mass protests and economic instability.

    Despite this economic devastation, analysts question the efficacy of sanctions in achieving geopolitical objectives. Experts point out that Iran’s nuclear program, which officials claim is for civilian purposes but is also framed as a deterrent against Israeli attacks, has continued to advance. The policy has instead strengthened the regime’s ‘resistance economy’—a model of socialist-style basic needs provision, import substitution, and barter trade with allied nations.

    Critically, analysts argue that sanctions have had the opposite of their intended effect. Azodi states, ‘Economic sanctions make authoritarian regimes more authoritarian,’ explaining that regimes under pressure allocate more resources to security forces, viewing citizens as threats rather than assets. Furthermore, with the 2025 designation list targeting sanctions evasion networks surpassing all previous years, the cycle of economic isolation deepens. The Central Bank prints money to finance a budget crippled by a more than 60% drop in oil exports, leading to hyperinflation and a vicious cycle of currency devaluation.

    The long-term outcome remains uncertain. While the Trump administration’s goal is to force behavioral change, the decades-long application of sanctions has failed to alter Iran’s nuclear policy, regional activities, or human rights record. Instead, it has inflicted immense hardship on the Iranian populace, with experts like Nephew acknowledging that sanctions are fundamentally ‘a question of applying pain,’ though their ultimate success in achieving strategic goals is far from guaranteed.

  • England look to fine tune for T20 World Cup with Sri Lanka series

    England look to fine tune for T20 World Cup with Sri Lanka series

    As the T20 World Cup approaches, England’s cricket team enters its final preparatory phase with a three-match series against Sri Lanka at Pallekele Stadium. The reigning number three ranked T20I team has demonstrated remarkable consistency since their disappointing semifinal elimination in the previous Caribbean World Cup, achieving four series victories, two draws, and only one loss in the shortest format.

    The series represents England’s last opportunity for strategic refinement before the global tournament co-hosted by Sri Lanka and India. According to opening batsman Phil Salt, ranked second globally in T20 rankings, maintaining momentum remains crucial. “We have a strong record over recent years and must carry that energy into the World Cup,” Salt emphasized. “Securing a series victory abroad always carries significant value.”

    Salt’s explosive batting performance—maintaining a 168 strike rate with four centuries and seven half-centuries—exemplifies England’s offensive power. However, the team’s depth represents their greatest advantage. “Our middle order features versatile, high-strike-rate players capable of dramatically shifting games,” Salt noted, specifically referencing Harry Brook’s recent unbeaten 136 in the Colombo ODI.

    England has simultaneously strengthened their spin bowling arsenal, utilizing six different spin options during the ODI series where spin accounted for 40 of 50 overs. This strategic diversity proves particularly valuable given the World Cup’s Mumbai and Kolkata venues, where pitch conditions traditionally favor spin bowling.

    Sri Lanka counters with strategic recalls of opener Kusal Perera—previously excluded from World Cup plans—and fast bowler Dushmantha Chameera. Captain Dasun Shanaka confirmed Perera’s flexibility in the top batting order and wicketkeeping coverage, while addressing concerns about leg-spinner Wanindu Hasaranga’s hamstring issue as “mere cramps.” Shanaka emphasized Chameera’s pace and precision as disruptive factors against England’s powerful batting lineup.

  • Sheikh Mohamed, Putin review UAE-Russia ties, discuss key economic agreements in Moscow

    Sheikh Mohamed, Putin review UAE-Russia ties, discuss key economic agreements in Moscow

    In a significant diplomatic engagement at the Kremlin on January 29, 2026, UAE President Sheikh Mohamed bin Zayed Al Nahyan and Russian President Vladimir Putin convened to strengthen bilateral relations and explore new cooperative frontiers. The high-level discussions centered on enhancing the strategic partnership between the two nations across multiple sectors including trade, investment, technology, space exploration, and energy security.

    The meeting, marked by formal ceremonies including an honor guard reception and military jet escort departure, underscored the importance both nations place on their relationship. President Sheikh Mohamed expressed optimism that 2026 would mark a year of substantial progress for Russia and continued advancement in UAE-Russia relations, noting the foundation of trust built over five decades of cooperation.

    A key outcome of the summit was the highlighting of two major economic agreements: the UAE-Russia Trade in Services and Investment Agreement (August 2025) and the UAE-Eurasian Economic Union Economic Partnership Agreement (June 2025). These frameworks are expected to significantly boost bilateral trade flows and investment opportunities while supporting sustainable development goals.

    The leaders also addressed critical regional and international issues, particularly emphasizing the urgent need for peace in the Middle East through a two-state solution. President Sheikh Mohamed reaffirmed the UAE’s commitment to global peace and stability through dialogue and diplomatic solutions.

    Notably, President Putin expressed appreciation for the UAE’s mediation efforts in the Russia-Ukraine conflict, specifically acknowledging successful prisoner exchanges facilitated by Emirati diplomacy. The Russian leader thanked the UAE for hosting trilateral talks involving Russia, Ukraine, and the United States, highlighting the Emirates’ growing role as an international peace broker.

    The delegation included senior UAE officials including Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority, and Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs, signaling the comprehensive nature of the bilateral engagement.

  • No white flag from Djokovic against Sinner as Alcaraz faces Zverev threat

    No white flag from Djokovic against Sinner as Alcaraz faces Zverev threat

    Novak Djokovic approaches his Australian Open semifinal confrontation with Jannik Sinner carrying the psychological burden of five consecutive defeats to the Italian phenom. The 38-year-old Serbian legend, pursuing an unprecedented 25th Grand Slam title, acknowledges Sinner’s current dominance but remains defiantly opposed to surrender.

    Djokovic’s path to this critical juncture has been unusually facilitated by opponent withdrawals. Lorenzo Musetti retired during their quarterfinal clash while leading, following Jakub Mensik’s pre-match withdrawal in the fourth round. This fortuitous progression sets the stage for Friday’s blockbuster confrontation on Rod Laver Arena, where Djokovic must overcome his recent struggles against the double defending champion.

    The winner will advance to face either Spanish top seed Carlos Alcaraz or German third seed Alexander Zverev in the championship match. Djokovic, competing in his record-extending 55th Grand Slam semifinal, recognizes the superior form of his younger rivals but maintains his competitive fire. “Are they better right now than me and all the other guys? Yes, they are,” Djokovic conceded. “But does that mean that I walk out with a white flag? No.”

    Meanwhile, the second semifinal presents equally compelling narratives. Alcaraz seeks to become the youngest man to complete a career Grand Slam at just 22 years old, while Zverev continues his pursuit of an elusive first major title. The German arrives pain-free after injury-plagued seasons and has developed a more aggressive playing style. Alcaraz, acknowledging Zverev’s elevated form observed during pre-tournament practice sessions, anticipates a physically demanding contest, warning his opponent would need to “sweat a lot” for victory.

    Sinner, despite his favored status, expressed profound respect for Djokovic’s professionalism and legacy. The 24-year-old Italian described the Serbian as an inspirational figure from whom younger players continuously learn, particularly regarding court management and experience utilization.

  • Svitolina keeps sadness at bay after Sabalenka semifinal defeat

    Svitolina keeps sadness at bay after Sabalenka semifinal defeat

    In a poignant display of perspective and resilience, Ukrainian tennis star Elina Svitolina processed her Australian Open semifinal defeat to Aryna Sabalenka with thoughts firmly fixed on her war-torn homeland. The match, which concluded 6-2, 6-3 in favor of the top-seeded Belarusian, marked Svitolina’s first semifinal appearance at Melbourne Park, yet her post-match reflections transcended the court’s boundaries.

    The geopolitical context loomed large over the contest, occurring against the backdrop of ongoing conflict in Ukraine. Since Russia’s 2022 invasion, which utilized Belarusian territory as a staging ground, players from both nations have been prohibited from representing their countries at Grand Slam events and tour competitions.

    Addressing media without directly referencing her opponent, the 31-year-old Svitolina expressed profound disappointment at missing her opportunity to reach a maiden Grand Slam final. However, she immediately contextualized her athletic setback within broader human suffering. ‘I feel like I should not be allowed to really be sad. I have a great position,’ Svitolina told reporters, emphasizing her privilege to compete on center court while representing Ukraine with dignity.

    Svitolina described the emotional exchange with Ukrainian supporters as ‘a big exchange of positive emotions,’ noting how her matches provide temporary respite for citizens enduring ‘horrible and terrifying’ circumstances. She consciously rejected self-pity, stating, ‘I cannot complain… people are really living a horrible and terrifying life in Ukraine, so I should not be allowed to really be sad because I’m a very, very lucky person.’

    Technically, Svitolina acknowledged Sabalenka’s superior power that resulted in four service breaks against her, while she managed just one break point conversion from four opportunities. Despite the straight-sets defeat, the Ukrainian believed she demonstrated competitive quality against the world’s top-ranked player throughout the tournament.

    Svitolina emphasized sport’s unifying role in national morale, describing how athletic achievements cut through the ‘dark days, grey days with so much negativity’ that characterize daily life in Ukraine. She expressed pride in providing moments of joy and unity for her compatriots, recognizing sports’ capacity to generate ‘great emotions’ during times of profound adversity.

  • ‘Markets are nervous’: How geopolitical tensions feed food inflation risks

    ‘Markets are nervous’: How geopolitical tensions feed food inflation risks

    DUBAI – Rising geopolitical conflicts and shipping route disruptions are creating significant upward pressure on global food prices, according to expert analysis presented at Thursday’s Intercontinental Commodity Exchange summit in Dubai. Industry leaders warned that market nervousness is exacerbating inflationary trends despite adequate global grain supplies.

    Thierry Beaupied, Vice President of Romania-based Trans-Oil Group, emphasized that psychological market factors are now driving price increases. “Markets are extremely nervous,” Beaupied stated. “Even with sufficient global grain and corn inventories, regional bombings and transport disruptions trigger buying frenzies as purchasers anticipate potential shortages.”

    The Black Sea conflict emerged as a primary concern, with climate shocks and damaged Ukrainian energy infrastructure creating additional volatility in grain and vegetable oil markets. Beaupied noted that approximately 60% of global sunflower oil originates from the Black Sea region, maintaining “tight and bullish” market conditions for vegetable oils in the medium term.

    For the United Arab Emirates, the challenge centers on price stability rather than physical shortages. The Middle Eastern nation remains generally well-supplied, with vegetable oils primarily sourced from South America. However, intense competition from major buyers including India and Iran continues to support elevated pricing structures.

    Logistical complexities are compounding the situation, with many vessels now discharging cargo in India before proceeding to Arabian Gulf ports to optimize freight expenses. This rerouting adds layers of complexity to supply chain management.

    Red Sea security concerns are forcing exporters to reconsider traditional trade routes. While Egypt’s grain imports remain relatively unaffected due to their reliance on Black Sea and American sources, exports of processed wheat products to neighboring regions have noticeably slowed.

    Mahmoud Kalila, Managing Director of Elementra Commodities in Egypt, revealed that security concerns have prompted investments in alternative logistics infrastructure, including enhanced road networks and proprietary shipping fleets.

    The summit also highlighted financial technology’s expanding role in managing cross-border trade risk. Nabeel Ahmed, Managing Director of HexTrust, emphasized the UAE’s critical position as a regional financial hub where efficient payment systems are becoming increasingly vital.

    “When wealth moves, money has to move with it,” Ahmed explained. “Regulated digital solutions enable businesses to transfer value within seconds instead of weeks, providing crucial flexibility during periods of market volatility.”

    Experts concluded that food security will remain intrinsically linked to geopolitical stability, with UAE consumers increasingly exposed to global market forces that extend far beyond local supermarket shelves.

  • Indonesian authorities attempt to soothe worries after $80 billion market rout

    Indonesian authorities attempt to soothe worries after $80 billion market rout

    Indonesian financial regulators initiated emergency stabilization measures on Thursday following a massive two-day market selloff that erased approximately $80 billion in market valuation. The dramatic downturn was triggered by index provider MSCI raising serious concerns about ownership transparency and trading practices within the Indonesian equity market.

    The Jakarta Composite Index experienced extreme volatility, plummeting 7.4% on Wednesday followed by an additional 8% decline on Thursday that activated circuit-breaker trading halts. The benchmark ultimately closed with a moderated 1% loss following intervention announcements from authorities.

    Central to the crisis are investor apprehensions regarding President Prabowo Subianto’s economic policies, particularly the expansion of fiscal deficits and increased governmental involvement in financial markets. These concerns were exacerbated by recent controversial appointments, including the president’s nephew to the central bank and the dismissal of respected Finance Minister Sri Mulyani Indrawati last year.

    In response to MSCI’s potential downgrade warning, Indonesian authorities unveiled a comprehensive package of corrective measures. The Financial Services Authority (OJK) announced the doubling of free-float requirements for listed companies from 7.5% to 15%, alongside commitments to enhance ownership transparency through detailed disclosure of shareholdings above and below 5% thresholds.

    Mahendra Siregar, Head of OJK, indicated during a press conference that communications with MSCI have been constructive, with expectations for resolution by March. Meanwhile, the Indonesian rupiah continued its decline, trading at 16,745 against the US dollar, approaching recent record lows.

    International financial institutions responded decisively. Goldman Sachs and UBS both downgraded their recommendations for Indonesian equities, with Goldman warning of potential outflows reaching $7.8 billion in a worst-case downgrade scenario. Market analysts characterized the selloff as predominantly driven by structural concerns rather than fundamental economic weaknesses.

    Despite the aggressive measures, analysts anticipate continued market fragility in the near term, emphasizing that investor confidence will require demonstrable improvements in transparency and consistent policy implementation rather than merely announcements of intent.