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Japan’s benchmark Nikkei 225 index soared 4.5% on Monday after the ruling Liberal Democratic Party (LDP) elected ultra-conservative Sanae Takaichi as its new leader, positioning her to become Japan’s first woman prime minister. Other major Asian markets also traded mostly higher. Takaichi, 64, a close ally of former Prime Minister Shinzo Abe, is widely expected to continue his market-friendly “Abenomics” policies. Admired by former British Prime Minister Margaret Thatcher, Takaichi has long backed Abe’s conservative vision for Japan. Although the LDP does not hold a full majority in the lower house, its dominance and a fragmented opposition virtually guarantee her appointment as prime minister. Takaichi faces several daunting challenges, including revitalizing Japan’s competitiveness, strengthening its industrial base, and tackling an aging population and mounting public debt, according to analysts at BMI of Fitch Solutions. Despite these challenges, investor sentiment turned sharply positive. Neil Newman, head of strategy at Astris Advisory Japan, said foreign investors appeared to drive Monday’s rally. “Obviously investors like what she has been saying, and judging by which stocks moved, it seems like foreigners are leading the charge so far,” Newman said.Market optimism was also boosted by reports suggesting U.S. President Donald Trump might consider easing some tariffs on auto parts and manufacturing materials — news that sent automakers’ shares higher. Toyota rose 4.9% and Honda gained 4.7% in Tokyo trading. Japan’s first female LDP leader Takaichi sparks gender equality concerns By midday, the Nikkei 225 was up 4.5% at 47,835.36, while Hong Kong’s Hang Seng index slipped 0.8% to 27,930.45. The Japanese yen weakened to 149.88 per U.S. dollar from 149.33, as expectations grew that Takaichi’s policies could lead to increased government spending and inflationary pressure. The euro eased slightly to $1.1720. Australia’s S&P/ASX 200 edged down 0.1% to 8,977.10, while markets in mainland China, Taiwan, and South Korea remained closed for holidays. On Wall Street, U.S. stocks ended Friday mixed but near record highs. The S&P 500 gained less than 0.1% to 6,715.79, marking its seventh positive week in the last nine. The Dow Jones Industrial Average rose 0.5% to 46,758.28, while the Nasdaq slipped 0.3% to 22,780.51. The U.S. government shutdown, now in its third day, delayed the release of key monthly jobs data that investors were watching closely for clues about the Federal Reserve’s next moves on interest rates. Meanwhile, oil prices rose after OPEC+ members agreed to a modest production increase of 137,000 barrels per day for November, matching October’s output hike. U.S. benchmark crude gained 88 cents to $61.76 per barrel, and Brent crude climbed 92 cents to $65.45. Source: AP

As the European Union moves to end its dependence on Russian energy and U.S. President Donald Trump’s administration urges NATO members to cut ties with Moscow’s oil, Hungary remains a staunch outlier. Prime Minister Viktor Orbán’s government insists Russian energy is vital for Hungary’s economy, arguing that shifting to alternative suppliers would trigger an immediate economic collapse. Orbán — widely viewed as the Kremlin’s closest ally in the EU — has consistently opposed sanctions on Moscow since Russia’s invasion of Ukraine in February 2022. He has also denounced EU efforts to target Russia’s energy revenue, saying such steps harm Europe more than they help Ukraine. While most European countries have drastically reduced their reliance on Russian fuel, Hungary has gone the other way — maintaining, and in some cases expanding, its imports. Critics say Orbán’s loyalty to Russian energy stems more from political alignment than genuine economic necessity. Orbán warns of ‘economic collapse’ without Russian fuelHungary’s leaders argue that, as a landlocked nation surrounded by other countries, it has no practical alternative to pipelines built during the Soviet era. “If Hungary is cut off from Russian oil and natural gas, then immediately, within a minute, Hungarian economic performance will drop by 4%,” Orbán said on state radio in September. “This would be catastrophic — the Hungarian economy would be on its knees.” However, energy expert László Miklós dismissed that claim, telling The Associated Press there was “no rational explanation” for Hungary’s reluctance to diversify. He said the infrastructure already exists to import non-Russian energy. Cyberattack cripples operations of Japanese beverage giant Asahi “Disconnecting from Russian supplies should not be a problem in an integrated European market,” Miklós said. “All the conditions are there — it’s the political will that’s missing.” EU’s energy cutoff and Hungary’s exemptionFollowing Russia’s 2022 invasion of Ukraine, the EU imposed an embargo on Russian oil and announced plans to phase out all Russian fossil fuel imports by 2027. However, the bloc granted temporary exemptions to three landlocked nations — Hungary, Slovakia, and the Czech Republic — for pipeline-delivered oil. Miklós argued that this exemption has enabled Hungary’s government and state oil company MOL to reap major profits while continuing to funnel billions to Russia’s war budget. “People think Hungary buys Russian energy because it’s cheaper,” he said. “That’s wrong. Hungary buys Russian energy because the government wants to help Russia arm itself — the profits for MOL and the government are just a byproduct.” Alternatives through the AdriaticHungary has insisted that its limited infrastructure prevents it from ending reliance on Moscow. Foreign Minister Péter Szijjártó said in September that geography determines energy choices. “We can dream about buying gas and oil from places that are not connected by pipelines, but we cannot heat our homes or run factories with dreams,” he said. Yet neighboring countries have already made the switch. The Czech Republic, once heavily dependent on Russia’s Druzhba pipeline, declared “oil independence” earlier this year after boosting capacity through an Italian pipeline. Hungary also has access to the Adriatic pipeline from Croatia, known as the Adria. While MOL claims the pipeline cannot meet Hungary’s full annual demand of roughly 14 million tons of crude, Croatia’s oil company Janaf disputes that, saying it can easily supply both Hungary and Slovakia. Even if Adria cannot cover all of Hungary’s needs, Miklós said it could still significantly reduce Russian imports. “If they need 14 to 15 million tons per year, they could take 10 million through Adria and the rest via Druzhba,” he said. The cost of alternativesOrbán’s government has warned that cutting off Russian energy would double household electricity bills and nearly triple gas costs. Asian shares rise on Wall Street gains as tech stocks rally despite U.S. government shutdown But according to energy analyst Borbála Takácsné Tóth, Hungarian consumers already pay prices linked to European benchmarks, meaning Russian gas is not substantially cheaper. She said a shift away from Russian supplies would likely raise prices only slightly — by 1.5 to 2 euros per megawatt hour, or less than 5%. Despite the government’s rhetoric, Hungary’s national energy firm MOL has already invested heavily to diversify its supply routes. The company said its $500 million modernization project will allow it to process a wider range of crude by the end of 2026. Miklós said that whatever Orbán’s political stance, the EU’s ongoing regulations will ultimately force Hungary to adapt. “Things will not go back to the way they were,” he said. “Europe has learned that Russia cannot be trusted. Breaking away from Russian energy is a political decision — and every other country in Europe is already paying that price.” Source: AP 

Japanese beverage giant Asahi Group Holdings said Friday that its operations have remained disrupted for five consecutive days following a cyberattack earlier this week, with reports of shortages of its popular beer and other drinks emerging in some stores. The company said its computer systems were hit on Monday, causing glitches that affected orders, shipments, and a customer call center in Japan. Overseas operations were not impacted. A company spokeswoman, speaking on condition of anonymity as is customary for Japanese firms, said the problem had yet to be resolved. While some emergency shipments were made Wednesday, employees have been forced to manually enter data into systems. Asian shares rise on Wall Street gains as tech stocks rally despite U.S. government shutdown Japanese media reported that convenience stores were facing delivery delays, with some shelves running low or selling out of Asahi products. A 7-Eleven outlet in Tokyo still had stocks on Friday evening but expected shortages soon. Asahi has canceled promotional events and postponed product launches amid the disruption. Some media reports suggested ransomware could be behind the attack, but the company declined to comment on the cause or motive. Founded in 1949, Tokyo-based Asahi produces the globally popular Super Dry beer, as well as cider, juices, candy, baby food and other products. Source: AP 

Asian shares advanced on Thursday, following Wall Street’s record-setting gains, as investors shrugged off the U.S. government shutdown and technology stocks led the rally. South Korea’s Kospi jumped 2.9% to 3,555.63 after Samsung Electronics and SK Hynix announced a partnership with OpenAI to supply memory chips for its Stargate data hubs. Samsung shares rose 4.6%, while SK Hynix surged 10.8%. Taiwan-based TSMC gained 3.3%, lifting the Taiex by 1.7%. Japan’s Nikkei 225 added 0.3% to 44,675.96, while Hong Kong’s Hang Seng rose 1.3% to 27,206.18. Markets in mainland China remained closed for a national holiday. Australia’s S&P/ASX 200 climbed 1%, led by gold mining stocks, and India’s BSE Sensex gained 0.9% after the Reserve Bank of India kept its benchmark interest rate unchanged. Australian PM urges China to resume iron ore imports after reported trade halt In U.S. trading on Wednesday, the S&P 500 rose 0.3% to 6,711.20, the Dow Jones Industrial Average added 0.1% to 46,441.10, and the Nasdaq climbed 0.4% to 22,755.16. Investors are weighing the impact of the government shutdown and upcoming economic reports on the Federal Reserve’s interest rate decisions. Crude oil prices inched higher, with U.S. benchmark crude at $62.08 per barrel and Brent crude at $65.65. The U.S. dollar strengthened against the yen, while gold eased slightly from record highs. Source: AP

Prime Minister Anthony Albanese has urged China to allow the import of Australian iron ore without barriers following reports that a state-run Chinese company has asked steelmakers and traders to suspend purchases from mining giant BHP. According to media reports, China Mineral Resources Group Co. directed domestic buyers to temporarily stop buying dollar-denominated seaborne shipments from BHP, escalating a dispute over contract negotiations. Albanese said he was concerned by the reports, stressing that iron ore exports are vital to both economies.“I want Australian iron ore to be exported into China without hindrance. It makes a major contribution to China’s economy, as well as to Australia’s,” he told reporters. He described the measures as “disappointing,” adding, “Sometimes when people negotiate over price, these things occur. But I want to see this resolved quickly.” The suspension means new deals cannot be signed, even for shipments already sent from BHP’s mines in Australia. The Chinese company, created to strengthen Beijing’s influence in the global iron ore market, did not comment. BHP also declined to comment on the negotiations. Treasurer Jim Chalmers said he plans to meet BHP chief executive Mike Henry regarding the issue. “These are concerning reports, but ultimately they involve commercial arrangements between companies. Still, our government will continue to advocate for Australia’s interests and work through these matters calmly,” he said. North Korean, Chinese foreign ministers vow to deepen ties, resist hegemonism Since Albanese’s government took office in 2022, China has lifted a number of trade barriers worth up to 20 billion Australian dollars ($13 billion) annually. Iron ore, however, had previously been spared because of its importance to Chinese steelmakers. Analyst Kaan Peker from RBC Capital Markets noted that China cannot easily stop buying BHP ore without drastically cutting steel output. He said global suppliers, including Brazil’s Vale, Australia’s Fortescue, and Rio Tinto, are already producing at full capacity. “It seems more like a negotiation tactic, possibly aimed at securing lower prices,” Peker said. Source: AP 

Global shares slipped in cautious trading on Tuesday as investors weighed the possibility of a U.S. government shutdown. In Europe, France’s CAC 40 fell 0.5% to 7,845.73, Germany’s DAX dipped 0.1% to 23,718.17, and Britain’s FTSE 100 lost 0.2% to 9,282.13. U.S. stock futures also pointed lower, with Dow futures down 0.2% at 46,518.00 and S&P 500 futures falling 0.2% to 6,703.75. Asian markets showed mixed movements. Japan’s Nikkei 225 declined nearly 0.3% to close at 44,932.63. China released weak factory activity data for September, highlighting ongoing economic pressure amid U.S. trade tensions. In contrast, Hong Kong’s Hang Seng rose 0.9% to 26,855.56, while the Shanghai Composite gained 0.5% to 3,882.78. Australia’s S&P/ASX 200 slipped 0.2% to 8,848.80, and South Korea’s Kospi edged down nearly 0.2% to 3,424.60. The U.S. federal government faces a looming budget deadline that could lead to a shutdown. Previous shutdowns were usually brief and had limited market impact. However, prolonged political deadlock between Democrats and Republicans could delay key economic reports, including data on employment and inflation. This potential shutdown may be more severe if the White House moves to implement large-scale federal worker layoffs. North Korean, Chinese foreign ministers vow to deepen ties, resist hegemonism Stephen Innes, managing partner at SPI Asset Management, said, “The market has explored every angle of the government shutdown story, yet with less than 24 hours remaining before the deadline, the narrative continues to dominate investor attention.” Investors are also eyeing Friday’s report on U.S. job creation and layoffs. Balanced numbers could support the Federal Reserve’s plan to continue lowering interest rates, while unexpectedly strong data might reduce the likelihood of further rate cuts, putting pressure on stock prices that have already surged in recent months. In commodities, U.S. benchmark crude fell 97 cents to $62.48 per barrel, while Brent crude dropped $1.02 to $66.95 per barrel. In currency markets, the U.S. dollar rose to 148.87 Japanese yen from 148.60 yen, and the euro increased to $1.1761 from $1.1727. Source: AP 

The foreign ministers of North Korea and China agreed Sunday in Beijing to strengthen bilateral relations and jointly oppose hegemonism and unilateralism, a pointed reference to their shared tensions with the United States. The meeting came three weeks after North Korean leader Kim Jong Un and Chinese President Xi Jinping held their first summit in more than six years, pledging closer cooperation. Both leaders, alongside Russian President Vladimir Putin, had earlier attended a massive military parade in Beijing marking the end of World War II, signaling a show of potential three-way unity against Washington. In talks with Chinese Foreign Minister Wang Yi, North Korea’s Choe Son Hui reiterated Kim’s stance that advancing ties with China is Pyongyang’s “unwavering position,” according to the North’s Korean Central News Agency (KCNA). Wang responded that Beijing is committed to consolidating relations, boosting strategic communications and exchanges. China’s Xinhua News Agency quoted Wang as saying Beijing opposes “all forms of hegemonism” and is ready to work with North Korea on regional and global issues. Choe, for her part, expressed willingness to “closely cooperate with China in multilateral affairs, jointly resist unilateralism and power politics, and promote a fairer world order.” Trump’s moves to consolidate power, target foes draw comparisons to countries Analysts say the statements reflect both countries’ ongoing confrontations with Washington — Beijing over strategic competition and Pyongyang over its nuclear weapons program. KCNA reported that Choe and Wang reached “complete consensus” on regional and international issues but gave no details. Kim’s participation in the Beijing parade marked his first appearance at a major multilateral event in his 14-year rule. While Pyongyang has in recent years leaned on Moscow by supplying troops and munitions for the Ukraine war, experts note Kim also seeks to reinforce ties with China, North Korea’s top trading partner and aid benefactor, as he prepares for shifting dynamics when the war eventually ends. Asian markets fall after Trump announces new tariffs on drugs and goods Attention is now on the level of delegation China may send to Pyongyang for the 80th founding anniversary of North Korea’s ruling Workers’ Party next month, when the North is expected to stage a military parade showcasing new weapons aimed at the U.S. and its allies. Source: Agency 

Since returning to office in January, former President Donald Trump’s efforts to reshape the federal government in line with his personal will have drawn comparisons to elected strongmen in other countries who consolidated power, punished opponents, and curtailed dissent. Analysts note, however, that Trump is acting faster and more overtly than many of his global counterparts. Eight months into his second term, Trump suggested revoking licenses of U.S. television stations he perceives as overly critical—recalling Venezuela’s Hugo Chávez, who eight years after taking office revoked the license of the country’s oldest private TV station. Targeting political opponents While the United States remains far from Venezuela or other authoritarian regimes, Trump has quickly consolidated authority, directed federal law enforcement toward perceived political adversaries, and removed officials considered disloyal. He has also pardoned more than 1,500 people convicted for involvement in the January 6, 2021, Capitol attack and threatened judges, law firms, and institutions he sees as opposing him. Trump has publicly claimed he is seeking accountability for Democrats, saying his administration is focused on restoring integrity to the justice system and addressing “radical left-wing violence.” In recent weeks, the Department of Justice indicted former FBI Director James Comey, whom Trump blames for the Russian collusion investigation, and Trump directed a crackdown on groups he alleges fund political violence, targeting organizations linked to Democratic causes. In front of drowning nations, Trump dismisses climate change as ‘con job’ Experts warn of rapid erosion of norms Comparisons have been drawn to leaders like Hungary’s Viktor Orbán, Turkey’s Recep Erdoğan, and Venezuela’s Chávez, all of whom used government levers to entrench power. Analysts note that, unlike these leaders, Trump is acting with unusual speed and visibility. “The only difference is the speed with which it is happening,” said David Smilde, a Tulane University professor who lived in Venezuela during Chávez’s rise. Harvard political scientist Steven Levitsky noted that the U.S. is “not a society prepared for authoritarianism,” unlike countries whose citizens have learned to recognize early threats to democracy. Former Turkish official Alper Coskun said Trump is following Erdoğan’s playbook more quickly than expected, while Kim Scheppele, a Princeton sociologist, observed that Orbán initially moved cautiously to avoid resistance—a tactic Trump has largely bypassed. Trump meets Pakistan PM amid signs of improving ties Still, experts note key differences. U.S. institutions, courts, and state governments have historically checked presidential overreach, as seen when Trump’s attempts to overturn the 2020 election were blocked. Yet the rapid consolidation of power, focus on punishing political foes, and threats to media outlets mark a concerning departure from past norms. “Here, nobody has really seen this in a president before,” Smilde said. Source: Agency 

Asian shares slid on Friday after U.S. President Donald Trump unveiled plans to impose new tariffs, including 100% import taxes on pharmaceutical drugs starting October 1. Trump said on his social media platform Thursday that foreign manufacturers of furniture and cabinetry were “flooding” the U.S. market, warranting tariffs for “national security and other reasons.” He also targeted heavy trucks and parts, though most are produced domestically or in North America. China gives up developing-country privileges at WTO amid tariff tensions The announcement rattled markets. Japan’s Nikkei 225 slipped 0.3% to 45,629.79, with Sumitomo Pharma down 5.2% and Chugai Pharmaceutical off 3.9%. South Korea’s Kospi tumbled 2.5% to 3,384.58, its third straight loss amid tariff worries. Hong Kong’s Hang Seng shed 0.7% and Shanghai’s Composite eased 0.1%. India’s Sensex fell 0.7% and Taiwan’s Taiex dropped 1.5%. Australia’s S&P/ASX 200, however, rose 0.2%. Wall Street also retreated Thursday, marking a third consecutive loss. Analysts warned that stronger U.S. economic data could limit prospects for multiple Federal Reserve rate cuts, a key driver of this year’s global stock rally. Oil prices edged higher, while the dollar slipped slightly against the yen. Source: Agency 

China announced Wednesday that it will no longer seek the preferential treatment afforded to developing countries under World Trade Organization (WTO) rules — a long-standing demand of the United States. Officials from China’s Commerce Ministry said the step was intended to strengthen the global trading system at a time when it faces pressure from tariff wars and protectionist import restrictions by individual countries. The change will apply to ongoing and future negotiations, not existing trade agreements. WTO Director-General Ngozi Okonjo-Iweala welcomed the decision, saying it removes a major source of contention and could help pave the way for reform. “It takes away one of the criticisms in the organization that relatively well-off countries were still enjoying these privileges,” she said at a summit in New York, noting that Washington’s response was “positive — but also ‘about time.’” The announcement was first made Tuesday in New York by Chinese Premier Li Qiang, during a China-organized development forum on the sidelines of the UN General Assembly. Beijing emphasized that the move was voluntary and not meant as guidance for other developing nations. “It’s China’s own decision,” said Li Yihong, China’s top envoy to the WTO, speaking in Geneva. The WTO, with 166 member states, provides a forum for trade talks and enforces global agreements, but its effectiveness has waned in recent years, prompting urgent calls for reform. Special and differential treatment provisions give developing countries more time to implement trade rules, technical assistance, and exemptions from some obligations binding on richer economies. While Chinese officials underscored that the country remains a middle-income nation and part of the developing world, they acknowledged the distinction between “developing member” status and the WTO’s special treatment rules. “China will always be a developing country,” Li said. The U.S. has long argued that China’s position as the world’s second-largest economy is inconsistent with its claim to developing-country benefits. Increasingly, Beijing has also become a global lender, financing infrastructure projects abroad through its state-owned companies. Chinese officials did not directly mention U.S. President Donald Trump, who has imposed tariffs on multiple countries this year, including China.