United News of Bangladesh

China and the European Union have reached a broad preliminary trade agreement following two days of negotiations aimed at easing growing tensions over trade imbalances, the EU’s trade commissioner said on Friday. Although neither side disclosed full details of the proposed agreement, European Commissioner for Trade Maroš Šefčovič said it includes reduced tariffs on certain European products entering China and measures to improve the stability of rare earth supply chains. According to Šefčovič, the arrangement could reduce Chinese electric and plug-in hybrid vehicle exports to the EU by as much as 50%. It could also lower tariffs on products from nearly every EU member state. However, the agreement must first receive approval from leaders of the bloc’s 27 countries. He said the arrangement would prevent millions of Chinese vehicles from being exported to the European market. The negotiations focused on addressing the factors contributing to China’s expanding trade surplus with the EU, which reached 360 billion euros (approximately $403 billion) last year. In a statement published online, China’s Commerce Ministry said Chinese Commerce Minister Wang Wentao had expressed concern over the EU’s recent restrictive trade measures. Wang argued that China was not responsible for Europe’s economic challenges but should instead be viewed as a partner in addressing them. Sigrid de Vries, head of the European Automobile Manufacturers’ Association, welcomed the apparent progress, saying the agreement could help prevent further uncertainty in the European market. She added that it could support an orderly transition to a new phase of Chinese participation in the European automotive sector, benefiting all parties over the long term. Šefčovič said he would present the agreement to EU leaders at a meeting in Brussels next week and seek their approval. He stressed that European leaders would need to be convinced that the arrangement was sufficiently effective before agreeing to further steps. He warned that Chinese competition could threaten entire European industrial sectors and thousands of jobs, adding that governments and the public expected a swift response. Šefčovič also said the two sides had reached an understanding on improving China’s export licensing procedures for rare earth elements and permanent magnets. Additionally, the agreement could improve access to the Chinese market for a range of European products through lower most-favoured-nation tariffs. These products include automotive components, olive oil and footwear, representing nearly 4 billion euros (around $4.5 billion) in current annual export value. The next meeting between the two sides is scheduled to take place by video in January, followed by an in-person meeting in March. Trade tensions continue to intensifyChina has been urging the EU to end restrictions on imports of advanced semiconductor manufacturing equipment from China. These measures were introduced on national security grounds following pressure from Washington. Šefčovič previously described this week’s negotiations as the culmination of three months of intensive discussions. He had set an October deadline for achieving meaningful progress towards balancing trade relations. Earlier in the week, China’s Commerce Ministry called on the EU to avoid protectionist policies, warning that such measures could produce unintended consequences. Trade friction between the two economic powers has increased in recent months, with both sides imposing or considering restrictions on imports from the other. The EU has introduced measures to restrict imports of Chinese-made electric vehicles and EV batteries while also taking steps to protect its domestic steel industry. The bloc is further tightening rules on duty-free imports of small e-commerce parcels, a move largely affecting Chinese fast-fashion businesses. Last week, China launched an anti-dumping investigation into imports of p-nitrotoluene from the EU, a chemical used in the production of dyes and pharmaceutical products. Chinese officials and businesses have also expressed concern over reports that some EU member states are considering additional measures to shield domestic industries from foreign competition. China's global trade surplus exceeds $1 trillionConcerns about the rapid growth of Chinese exports to Europe and other international markets have intensified. Some analysts have described the trend as a potential second wave of the so-called “China shock,” referring to the economic impact of a surge in Chinese manufactured goods. The concerns have grown as the United States, particularly since President Donald Trump returned to the White House, has increased tariffs and introduced other measures intended to reduce its substantial trade deficit with China. Despite mounting resistance from trading partners, China recorded a global trade surplus of $1.2 trillion in 2025. Forecasts suggest the surplus could exceed $1 trillion again this year. According to EU statistics, the bloc’s trade deficit with China widened to 103.3 billion euros (approximately $116 billion) in the second quarter. Imports from China reached 153.6 billion euros (about $172 billion), while European exports to the Chinese market totalled 50.3 billion euros (around $56 billion). Meanwhile, Germany blocked the proposed sale of a major logistics company operating in the Port of Hamburg to Chinese state-owned shipping giant Cosco on Wednesday, citing national security concerns. Germany’s economic ministry said the country welcomed foreign investment as Europe’s largest economy but warned that certain transactions could threaten national security. It argued that the proposed acquisition could increase economic dependence on China and weaken the resilience of supply chains in Germany and across the EU.    

Stock markets mostly advanced in Europe and Asia on Friday, while oil prices fell after recent gains. US stock futures also edged higher following an unsettled session on Wall Street. In early European trading, Germany’s DAX rose 0.7% to 24,975.62, France’s CAC 40 gained 0.8% to 7,789.91, and Britain’s FTSE 100 advanced 0.7% to 10,515.43. Futures for the S&P 500 climbed 0.4%, while those for the Dow Jones Industrial Average rose 0.1%. In Asia, Tokyo’s Nikkei 225 closed almost unchanged at 69,030.92. The Shanghai Composite edged up 0.1%, while Hong Kong’s Hang Seng jumped 1.6% to 24,152.44. Australia’s S&P/ASX 200 gained 0.6% to 8,716.60, and India’s Sensex rose 1.2%. Markets in South Korea and Taiwan remained closed. China is scheduled to publish its latest economic growth figures next week. US stocks fluctuated on Thursday as oil prices climbed and bond yields surged before easing later in the day. The S&P 500 fell 0.5%, marking its second consecutive loss after reaching a record high a day earlier. The Dow rose 0.1%, while the Nasdaq Composite dropped 1.3%, with technology stocks suffering the biggest losses. Brent crude, the international benchmark, surged 4.1% to $104.28 a barrel. Prices have fluctuated between $96 and nearly $110 over the past month amid uncertainty over when the war with Iran will allow global energy supplies to return to normal. Brent approached $106 a barrel on Thursday morning before retreating after US President Donald Trump said “productive discussions” were taking place with Iran. He also said the US military would not attack Iran before the November US elections. Early Friday, Brent fell 1% to $103.28 a barrel, while US benchmark crude declined 0.8% to $90.75. Bond yields have remained near their highest levels in years or decades, raising concerns about a potential slowdown in economic activity. The yield on the 10-year US Treasury initially climbed to 5.35% on Thursday before falling to 5.23%. Yields eased after the US government sold $22 billion in 30-year Treasury bonds at an auction with a yield below 5.62%. The 30-year Treasury yield subsequently fell to 5.60% from 5.73% earlier in the morning. The US federal budget deficit, which approached $2 trillion in the fiscal year ending September 30, has also weighed on markets amid concerns over rising government debt. Among individual stocks, PepsiCo gained 3.7% after reporting quarterly revenue and profits that exceeded analysts’ expectations. However, losses among major technology companies offset those gains. Nvidia, the world’s largest publicly traded company by market value, fell 2.9%, making it the biggest drag on the S&P 500. Broadcom dropped 4.3%, while Micron Technology declined 4.8%. Artificial intelligence-related stocks face growing pressure to deliver strong growth to justify their high valuations following the sector’s recent surge. “What was once a broad, buy-anything-with-an-AI-label momentum trade is becoming a much tougher contest between balance-sheet strength and ambition,” said Steven Innes of SPI Asset Management. In currency trading early Friday, the US dollar rose to 158.37 Japanese yen from 157.89 yen. The euro traded at $1.1228, up from $1.1211.

Asian stocks declined Thursday as rising bond yields and higher oil prices weighed on markets, following a retreat on Wall Street from recent record highs. US stock futures were mixed in early trading. Asian markets came under renewed pressure from higher bond yields. The yield on the 10-year US Treasury remained close to a multi-decade high after minutes from the US Federal Reserve's latest meeting, released Wednesday, showed that most policymakers expect another interest rate increase this year. Japan's Nikkei 225 fell 0.9% to 69,438.77, while South Korea's Kospi dropped 0.8% to 6,750.25. Hong Kong's Hang Seng declined 0.2% to 24,072.98, and the Shanghai Composite edged down 0.1% to 3,840.03. Australia's S&P/ASX 200 lost 0.6% to 8,677.20, while Taiwan's Taiex fell 0.7%. On Wall Street, the S&P 500 declined 0.2% Wednesday, a day after reaching a record high. The Dow Jones Industrial Average fell 0.7%, while the technology-focused Nasdaq composite slipped 0.2% from its record. US inflation remains above the Fed's 2% target. In September, the central bank raised its key interest rate by 0.25 percentage point for the first time in three years, bringing the target range to 3.75%-4%. Higher bond yields can weigh on stocks as they increase borrowing costs for businesses and consumers. US Treasury yields have climbed amid a global energy shock linked to the Iran war, while growing US government debt has also added pressure. The 10-year Treasury yield stood around 5.31% Thursday after reaching 5.36% Wednesday, its highest level since 2002. Oil prices also rose amid uncertainty over global supplies. The US and Iran have yet to reach an agreement to end their war. The Atlantic reported Wednesday, citing two unnamed officials, that the White House had asked the Pentagon to prepare strike options against Iran before the November midterm elections. Brent crude, the international benchmark, rose 2.2% to $102.43 a barrel early Thursday. US benchmark crude gained 1.9% to $89.96. The International Energy Agency said Wednesday that its members support accelerating releases of oil from strategic inventories. The US dollar rose to 158.20 Japanese yen from 158.08 yen. The euro edged up to $1.1198 from $1.1197 as higher French bond yields and concerns over the country's government debt put pressure on the currency.

Asian shares traded mixed Friday as a global sell-off in government bonds intensified and investors awaited the release of the latest US jobs report. Oil prices were largely steady as the US sent another aircraft carrier and additional troops to the Middle East, while President Donald Trump warned of possible further escalation with Iran. Japan's Nikkei 225 fell 0.9% to 68,326.72, while South Korea's Kospi gained 0.2% to 6,984.96. Hong Kong's Hang Seng dropped 2.7% to 23,956.32, its lowest level since July. Australia's S&P/ASX 200 rose 0.4% to 8,651.30, while Taiwan's Taiex gained 0.2%. Mainland Chinese markets were closed for a holiday. US futures edged higher after Treasury yields steadied early Friday. The yield on the 10-year US Treasury stood at about 5.25%, after climbing to 5.34% Thursday, its highest level since 2002. It crossed 5% last month as investors demanded higher returns amid inflation concerns linked to the global energy shock from the Iran war and rising US government debt. David Clewell, a portfolio manager at T. Rowe Price, described the 5% yield level as an “important psychological threshold” for investors. Clewell said strong US economic growth could create a “credible” possibility of the 10-year Treasury yield rising toward 5.5% to 6%. Higher bond yields can put pressure on stock markets by increasing borrowing costs and reducing the relative appeal of stocks. European benchmark stock indexes fell sharply Thursday as government bond yields climbed. On Wall Street, the S&P 500 gained 0.2%, the Dow Jones Industrial Average rose less than 0.1% and the Nasdaq composite added less than 0.1%. Investors were closely watching the September US jobs report due Friday for clues about the Federal Reserve's interest-rate policy. The report could provide further indications about the possibility of an October rate hike after the Fed raised rates in September for the first time in three years. Oil prices edged lower early Friday as uncertainty continued over the Middle East and the possibility of easing tensions between the US and Iran. A US official said Thursday that the US military was sending thousands of additional troops to the Middle East aboard a group of ships that includes a third aircraft carrier. The move came after Trump said Wednesday that the US could “blow them up” or reach a deal, referring to Iran. Brent crude, the international benchmark, fell 0.2% to $102.13 a barrel after rising Thursday. The price remains well above the roughly $72-per-barrel level recorded in late February before the war. The US dollar fell to 157.91 Japanese yen from 158.09 yen. The euro rose to $1.1250 from $1.1244.

Asian shares mostly gained Thursday as investors continued to buy technology stocks, particularly those linked to artificial intelligence, despite uncertainty over the war in Iran and its impact on energy markets. Japan's benchmark Nikkei 225 rose 3.3% to 68,956.72, while South Korea's Kospi gained 2% to 6,971.35. Australia's S&P/ASX 200 fell nearly 2% to 8,614.40. Markets in Hong Kong and Shanghai were closed for a national holiday. In Tokyo, shares of companies expected to benefit from strong demand for computer chips and AI-related technology advanced. Advantest, Tokyo Electron and SoftBank Group were among the gainers. On Wall Street, US stocks mostly declined Wednesday despite signs that the US economy remains relatively strong. The S&P 500 fell 0.3%, ending its third losing month in the past four months. The Dow Jones Industrial Average dropped 443.87 points, or 0.9%, while the Nasdaq composite gained 0.2%. A US inflation report showed consumer prices rose 3.4% in August from a year earlier, below economists' expectation of 3.7% but still above the Federal Reserve's 2% target. Oil prices continued to fluctuate amid uncertainty over when the Iran war will allow crude supplies to return to normal. US benchmark crude rose 0.12% to $90.53 a barrel, while Brent crude gained 0.32% to $98.34. Iranian officials said Wednesday they had received an official US response to Tehran's latest proposal aimed at ending the seven-month conflict but did not disclose its contents. US President Donald Trump had rejected an earlier Iranian proposal to reopen the Strait of Hormuz within a week if Washington met certain conditions. The yield on the 10-year Treasury note rose to 5.29% from 5.26%, returning to levels last seen more than two decades ago. The 30-year Treasury yield increased to 5.64% from 5.59%. The S&P 500 fell 19.30 points to 7,651.54, while the Dow dropped 443.87 points to 50,906.05. The Nasdaq gained 63.52 points to 26,861.06. In currency trading, the US dollar rose to 158.30 Japanese yen from 157.33 yen, while the euro fell to $1.1320 from $1.1334.

Asian stocks mostly rose Wednesday, supported by continued optimism over artificial intelligence and chip-related companies despite concerns about the ongoing war in Iran. Japan’s benchmark Nikkei 225 jumped 2.1% in afternoon trading to 66,882.34. Australia’s S&P/ASX 200 gained 1.1% to 8,806.40, while South Korea’s Kospi slipped 0.1% to 6,861.30 after giving up earlier gains. Hong Kong’s Hang Seng rose 0.3% to 24,585.63, and the Shanghai Composite added 0.5% to 3,847.55. SoftBank Group Corp., which has invested in OpenAI, surged more than 6% in Tokyo. Japanese chip-related companies, including Renesas Electronics and Rohm Co., also gained. On Wall Street, stocks ended slightly lower Tuesday as rising long-term Treasury yields put pressure on markets. The S&P 500 fell 0.2% after moving between small gains and losses during the session. The Dow Jones Industrial Average declined 0.3%, while the Nasdaq composite dropped 0.1%. Major indexes turned lower as higher bond yields offset gains by several major technology companies. Nvidia, the market’s most influential stock, fell 0.7% after an early rise, while Broadcom gained 1.6%. Oil prices have fluctuated sharply as the U.S.-Iran war continues, contributing to a rise in Treasury yields to their highest level in 24 years. U.S. benchmark crude rose 0.1% to $89.47 a barrel, while Brent crude, the international benchmark, gained 0.49% to $103.09. Brent remains well above the roughly $72 a barrel recorded before the U.S. and Israel attacked Iran in late February. Mediators continued efforts to help the United States and Iran reach an agreement to end the fighting and reopen the Strait of Hormuz. President Donald Trump rejected a proposal from Tehran over the weekend to reopen the key waterway. The yield on the 10-year Treasury rose to 5.25% from 5.24% late Monday. It had reached 5.28% earlier Tuesday, its highest level since 2002, according to Tradeweb. The S&P 500 lost 12.85 points to close at 7,670.84. The Dow fell 131.59 points to 51,349.92, while the Nasdaq declined 22.84 points to 26,797.54. Several major U.S. economic reports are due this week, which could give investors and the Federal Reserve a clearer picture of the inflation outlook. U.S. inflation has remained above 3% for most of the year, well above the Fed’s 2% target. Wall Street expects the central bank to raise its benchmark interest rate again at its October meeting. “While it is easy to focus on the macroeconomic headwinds of bond yields and oil, the underlying U.S. economy remains remarkably resilient,” said Tina Teng, a market analyst at MooMoo, a global financial technology and online brokerage company. In currency trading, the U.S. dollar fell to 156.93 Japanese yen from 157.27 yen. The euro slipped to $1.1344 from $1.1347.

Asian stocks mostly declined Tuesday after major U.S. indexes ended lower in the previous session, while U.S. Treasury yields paused after reaching their highest levels in about two decades. U.S. stock futures edged down, while oil prices increased amid uncertainty over talks between the United States and Iran and the possibility of reopening the Strait of Hormuz, a key route for global oil shipments. On Monday, the S&P 500 fell 0.8%, the Dow Jones Industrial Average dropped 0.7% and the Nasdaq composite declined 0.9%. Rising U.S. Treasury yields have put pressure on stocks as investors seek better returns amid concerns about inflation and growing U.S. government debt. The yield on the 10-year U.S. Treasury note reached 5.27% Monday, its highest level since 2007. It stood at about 5.25% early Tuesday, compared with 5.17% last Friday. Oil prices, already elevated and contributing to inflation, rose further Tuesday as mediators continued efforts to reach an agreement between Washington and Tehran. U.S. President Donald Trump rejected an Iranian offer over the weekend to reopen the Strait of Hormuz. Brent crude, the international benchmark, rose 1.8% to $99.63 a barrel, well above about $72 a barrel in late February before the Iran war. Japan’s Nikkei 225 fell 1.2% to 65,114.64, while South Korea’s Kospi declined 0.6% to 6,847.56. Hong Kong’s Hang Seng Index dropped 0.5% to 24,516.46. Shares of online fast-fashion retailer Shein traded in Hong Kong fell 11.7% after the company reported a 67% year-on-year decline in adjusted net profit for its latest quarter. China’s Shanghai Composite edged up 0.1% to 3,826.51 after state-run Xinhua News Agency reported Monday that the State Council discussed ways to improve the effectiveness of macroeconomic policies and support economic growth. Australia’s S&P/ASX 200 rose 0.1% to 8,686.20. Taiwan’s Taiex fell 0.6%, while India’s Sensex declined 0.7%. The U.S. dollar rose slightly to 157.42 Japanese yen from 157.39 yen. The euro fell to $1.1362 from $1.1371.

Asian stock markets were mixed Monday after a decline in oil prices last week helped U.S. stocks end their first winning week in three. Japan’s benchmark Nikkei 225 fell 0.7% to 65,877.62. Australia’s S&P/ASX 200 gained 0.2% to 8,679.70, while South Korea’s Kospi dropped 2.7% to 6,889.74. Hong Kong’s Hang Seng rose 0.6% to 24,654.86, while the Shanghai Composite declined 1.7% to 3,823.62. In energy trading, U.S. benchmark crude rose 1.98% to $94.24 a barrel, while Brent crude, the international benchmark, gained 2.5% to $106.93 a barrel. Brent crude briefly fell to around $97 a barrel last week. Oil prices have remained volatile amid uncertainty over when the war with Iran will end and allow oil supplies from the Middle East to flow more freely, including through the Strait of Hormuz. On Wall Street, the S&P 500 gained 0.5%, ending a three-day decline marked by sharp swings as bond yields rose. The Dow Jones Industrial Average climbed 478 points, or 0.9%, while the Nasdaq composite gained 0.5%. Rising expectations for high inflation in the United States weighed on markets last week. Higher inflation could put further pressure on the economy by increasing living costs and potentially triggering further price increases. The yield on the 10-year Treasury note briefly rose to 5.22% Friday from 5.18% late Thursday, approaching its highest level since 2007. Higher yields can slow economic activity by making borrowing more expensive and can also put pressure on stocks and other investments. The 10-year yield had risen from 3.97% at the start of the war with Iran. However, it eased later Friday as oil prices fell, dropping to 5.15%. The decline in yields helped U.S. stocks recover. Overall, the S&P 500 rose 39.28 points to 7,743.41. The Dow gained 478.64 points to 51,828.62, while the Nasdaq composite advanced 129.34 points to 27,068.72. In Asian currency trading Monday, the U.S. dollar rose to 157.53 Japanese yen from 157.19 yen. The euro fell to $1.1380 from $1.1393.

Asian stocks traded mixed Monday as oil prices moved higher after a decline last week helped U.S. shares finish their first positive week in three. Japan’s benchmark Nikkei 225 was nearly unchanged, slipping less than 0.1% to 66,333.53. Australia’s S&P/ASX 200 gained 0.3% to 8,688.60, while South Korea’s Kospi fell 2.3% to 6,916.30. Hong Kong’s Hang Seng rose 0.7% to 24,684.09, while the Shanghai Composite declined 1.7% to 3,820.82. In energy trading, U.S. benchmark crude rose 1% to $93.33 a barrel, while Brent crude, the international benchmark, climbed 1.8% to $106.19 a barrel. Brent had briefly fallen to the $97 range last week. Oil prices remain volatile amid uncertainty over when the war with Iran will allow oil supplies from the Middle East to move more freely, including through the Strait of Hormuz. On Wall Street, the S&P 500 gained 0.5%, ending a three-day decline marked by sharp swings as bond yields increased. The Dow Jones Industrial Average rose 478 points, or 0.9%, while the Nasdaq composite added 0.5%. Rising expectations of higher U.S. inflation weighed on markets last week. Investors are concerned that persistent inflation expectations could influence economic behavior and contribute to further increases in living costs. The yield on the 10-year U.S. Treasury note briefly rose to 5.22% Friday from 5.18% late Thursday, approaching its highest level since 2007. Higher yields can slow economic activity by increasing borrowing costs and can also reduce the appeal of stocks and other investments. The 10-year yield has risen sharply since the start of the war with Iran, when it stood at 3.97%. However, yields eased later Friday as oil prices declined, with the 10-year yield falling back to 5.15%. The move helped U.S. stocks recover. The S&P 500 rose 39.28 points to 7,743.41. The Dow gained 478.64 points to 51,828.62, while the Nasdaq composite advanced 129.34 points to 27,068.72. In Asian currency trading Monday, the U.S. dollar rose to 157.76 Japanese yen from 157.19 yen. The euro was trading at $1.1392, little changed from $1.1393.

Asian shares were mixed Friday after another global sell-off in bonds pushed U.S. Treasury yields to their highest levels in years. U.S. stock futures edged higher. Japan’s Nikkei 225 rose 1.3% to 66,364.20, while Hong Kong’s Hang Seng fell 1.1% to 24,495.35. Australia’s S&P/ASX 200 declined 0.4% to 8,665.00. India’s Sensex was up less than 0.1%. Markets in mainland China, Taiwan and South Korea were closed for a holiday. On Wall Street, the S&P 500 was almost unchanged Thursday, slipping less than 0.1%. The Dow Jones Industrial Average fell 0.3%, while the technology-heavy Nasdaq composite gained less than 0.1%. Another global bond sell-off has put fresh pressure on stock markets, with the yield on the U.S. 10-year Treasury reaching its highest level since 2007. The yield eased slightly to around 5.17% early Friday after rising above 5.20% Thursday, compared with about 5.11% on Wednesday. Government bond yields have remained high as investors demand greater returns amid rising risks and uncertainty. These include increasing inflation pressures linked to the energy shock caused by the war involving Iran and concerns over growing U.S. government debt. ING Bank analysts said in a commentary this week that higher energy prices and continued inflation pressures were likely to keep pushing U.S. 10-year Treasury yields higher. Oil prices declined early Friday as investors watched for signs that the Strait of Hormuz, a key route for global oil shipments, could reopen. Brent crude, the international benchmark, fell 1% to $99.24 a barrel. It remained below the $100 mark but was still well above about $72 a barrel in late February, before the war began. Investors were also watching a meeting in Washington between U.S. President Donald Trump and Chinese President Xi Jinping. Analysts said the meeting had produced limited concrete progress so far, although the two leaders discussed issues including trade, artificial intelligence and the Middle East. The U.S. dollar fell to 158.06 Japanese yen from 158.86 yen, while the euro rose to $1.1387 from $1.1380.