2025-11-10 07:22

BEIJING, Nov 10 (Reuters) - China will make adjustments to the catalogue of drug-related precursor chemicals and will require licenses for export of certain chemicals to the United States, Canada and Mexico, the country's Commerce Ministry said on Monday. Sign up here. https://www.reuters.com/world/asia-pacific/china-adjusts-management-drug-related-precursor-chemicals-2025-11-10/

2025-11-10 07:21

Four dead after super typhoon hits the Philippines More than a million evacuated before it made landfall Fung-wong to hit Taiwan, government orders evacuations ISABELA, Philippines, Nov 10 (Reuters) - One of the year's most powerful storms in the Philippines, Super Typhoon Fung-wong has killed four people, authorities said on Monday, as they began assessing damage after its fury abated, though no reports of major destruction have flowed in yet. More than a million people were evacuated before Fung-wong hit land on Sunday, unleashing fierce howling winds, heavy rain and storm swells on the most populous island of Luzon that left some sleepless through the night. Sign up here. "We could not sleep because of the winds hitting our metal sheets and tree branches falling," said Romeo Mariano, who sheltered with his grandmother in their home in the province of Isabela. "When we got out to check our home, we saw the damage." Early indications suggest the tally of dead will be "minimal", however, civil defence senior official Raffy Alejandro told a media briefing. A mudslide buried a house to kill two children in the northern town of Kayapa in the province of Nueva Vizcaya, regional civil defence official Alvin Ayson said by telephone. They followed two deaths from drowning and fallen debris. FOUR TOWNS ISOLATED IN PROVINCE WHERE STORM MADE LANDFALL Landslides also isolated at least four towns in the province of Aurora, where Fung-wong made landfall, Alejandro added. Forecast to shift northeast to Taiwan, Fung-wong was packing winds on Monday whose speeds had dropped to between 120 kph and 150 kph (75 mph to 93 mph), but remained a typhoon, whose outer bands could dump rain in coastal areas and trigger storm surges. The storm is the 21st this year in the Philippines, coming after Typhoon Kalmaegi killed 224 last week, with five dead in Vietnam. The back-to-back storms came as officials of more than 190 countries gathered in Brazil for Monday's opening of the COP30 climate summit. Scientists have said rising sea temperatures pack more energy into tropical cyclones, making them more intense and boosting rainfall. Matthew England, a climate scientist at the University of New South Wales in Australia, said ocean temperatures have been above average around the western Pacific where typhoons that hit the Philippines originate. "If the oceans are warming as they are because of climate change, then that is intensifying the magnitude and the wind speed and the ferocity of these typhoons," England said. Fung-wong is forecast to hit Taiwan's densely populated west coast on Wednesday, though its heaviest rain is expected along the mountainous east coast, where 18 people died in September in flooding unleashed by an earlier typhoon. The government has already ordered evacuations in the town of Guangfu, the scene of those deadly floods. https://www.reuters.com/business/environment/two-dead-one-million-evacuated-typhoon-fung-wong-slams-into-philippines-2025-11-10/

2025-11-10 06:52

Gold hits highest level since October 24 Silver rises over 4% to hit highest since October 21 US Senate advances bill to end federal shutdown Nov 10 (Reuters) - Gold prices climbed nearly 3% on Monday to hit a more than two-week high as soft economic data out of the United States reinforced expectations that the Federal Reserve will cut interest rates, lifting demand for the non-yielding asset. Spot gold climbed 2.8% to $4,111.39 per ounce as of 2:21 p.m. ET (1921 GMT) after hitting its highest level since October 24 earlier in the session. U.S. gold futures for December delivery rose 2.8% to settle at $4,122.00 per ounce. Sign up here. "Some weak data last week has the market tilting a little more dovish in their Fed expectations ... We could very much still see a December rate cut," said Peter Grant, vice president and senior metals strategist at Zaner Metals. Data last week showed the U.S. economy shed jobs in October, with losses in the government and retail sectors. Additionally, U.S. consumer sentiment slumped in early November as households worried about the economic fallout, data on Friday showed. Markets now see a 64% chance of a rate cut in December, with odds climbing to about 77% by January, according to CME Group's FedWatch tool. FEDWATCH Non-yielding gold tends to do well in a low-interest-rate environment and during times of economic uncertainty. Gold could range between $4,200 and $4,300 per ounce by the end of the year, with $5,000/oz still a reasonable objective for the first quarter of next year, Grant added. Meanwhile, the U.S. Senate on Sunday moved forward on a measure aimed at reopening the federal government and ending a now 40-day shutdown. "A reopening would restore data flow and revive expectations for a December rate cut, but more importantly it shifts market focus back to the deteriorating U.S. fiscal outlook," Ole Hansen, head of commodity strategy at Saxo Bank, said in a note. Elsewhere, spot silver rose 4.5% to $50.46 per ounce, reaching its highest since October 21, platinum rose 2.4% to $1,582.50, and palladium added 3.1% to $1,422.79. https://www.reuters.com/world/india/gold-rises-more-than-1-fed-rate-cut-bets-slowdown-worries-2025-11-10/

2025-11-10 06:42

Potential end to US government shutdown buoys market Indexes rise: MSCI global index 1.4%, Nasdaq 2.3%, S&P 500 1.5% US yields rise, riskier currencies gain against the US dollar NEW YORK/LONDON, Nov 10 (Reuters) - MSCI's global equities gauge rallied 1.4% on Monday while government bond yields rose modestly on bets the record-long U.S. government shutdown will soon end, enabling official data releases to resume to provide much-needed clarity on the state of the economy. The U.S. Senate moved forward on Sunday on a measure to end the shutdown, now in its 41st day, which has sidelined federal workers, delayed food aid, snarled air travel and paused the release of government economic data. Sign up here. If the Senate passes the bill, which would fund the government until January 30 and include a package of three full-year appropriations bills, it must then be approved by the House of Representatives and sent to President Donald Trump, a process that could take several days. On read more , the S&P 500 (.SPX) , opens new tab closed up 103.63 points, or 1.54%, to 6,832.43 for its biggest one-day percentage gain since October 13 and the Nasdaq Composite (.IXIC) , opens new tab rose 522.64 points, or 2.27%, to 23,527.17 for its biggest daily gain since May 27. The Dow Jones Industrial Average (.DJI) , opens new tab rose 381.53 points, or 0.81%, to 47,368.63. "There's an increased willingness to take on additional risk because there's a possibility the government could reopen some time this week," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. "Right now it's a bit of a relief rally." Pavlik said investors have been concerned by anecdotal evidence of "people staying home and not spending as much" and are anxious for the resumption of official economic reports for "hard evidence." "We've had this void for so long that it felt like it was starting to really weigh on investors' minds and people were focusing more and more on valuations," he said. MSCI's gauge of stocks across the globe (.MIWD00000PUS) , opens new tab rose 13.65 points, or 1.38%, to 1,004.97, which would be its biggest daily gain since late June. Earlier, the pan-European STOXX 600 (.STOXX) , opens new tab index closed up 1.42%. While last week's non-government data stoked worries about a weakening U.S. labor market, a slew of Federal Reserve officials reiterated their preference for going slow on further rate cuts. St. Louis Federal Reserve President Alberto Musalem said that with inflation closer to 3% than the Fed's 2% goal, the economy resilient, financial conditions accommodative and monetary policy close to neutral, the Fed should "tread with caution" on any further interest rate cuts. Traders are pricing in a roughly 64% probability that the central bank will cut rates by 25 basis points next month, according to CME Group's FedWatch , opens new tab tool. Still, Fed Governor Stephen said on Monday a 50 basis point rate cut would be appropriate for December, noting that inflation is falling while the unemployment rate is drifting higher. U.S. Treasury prices fell on Monday, driving yields up as investors favored riskier assets on optimism about an end to the government shutdown. The yield on benchmark U.S. 10-year notes rose 2.7 basis points to 4.12%, from 4.093% late on Friday while the 30-year bond yield rose 0.9 basis points to 4.7103%. The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, rose 3.8 basis points to 3.595%, from 3.557%. Risk-sensitive currencies including the Australian dollar rose, while safe havens dipped against the U.S. currency, as risk sentiment was boosted by signs the U.S. government is closer to reopening. The Australian dollar strengthened 0.71% versus the greenback to $0.6537 while New Zealand's kiwi strengthened 0.32% to $0.5644 and the Canadian dollar gained 0.22% to C$1.402 per dollar. But against the Japanese yen , the dollar strengthened 0.46% to 154.11 and the euro was down 0.05% at $1.1559. In cryptocurrencies, bitcoin gained 1% to $105,550.98. Safe-haven gold hit its highest level in more than two weeks as investors bet on rate cuts after signs of economic softening last week while a weaker dollar lent support. Spot gold rose 2.82% to $4,111.58 an ounce. U.S. gold futures rose 2.72% to $4,108.20 an ounce. Oil prices ended higher on Monday after swinging between gains and losses during the session as analysts focused on potential fuel supply disruptions from fresh U.S. sanctions and Ukrainian drone attacks on Russian refineries, although predictions of a crude supply surplus kept gains in check. U.S. crude settled up 0.64%, or 38 cents at $60.13 per barrel and Brent settled at $64.06 a barrel, up 0.68%, or 43 cents. https://www.reuters.com/world/china/global-markets-global-markets-2025-11-10/

2025-11-10 06:31

Nov 10 (Reuters) - The U.S. Senate on Sunday moved forward on a measure aimed at reopening the federal government, with a procedural vote clearing the way for lawmakers to amend a bill that can fund the government until January 30. Financial markets welcomed progress that raises the prospect of resolving a 40-day shutdown that has likely hit economic growth. Sign up here. S&P 500 futures rose 0.8% and Nasdaq 100 futures rose 1.3%. Risk sensitive currencies such as the Australian dollar climbed. Safe-havens such as U.S. Treasuries and the yen slipped. QUOTES: JACK CHAMBERS, SENIOR RATES STRATEGIST, ANZ, SYDNEY "Even if it's not concrete (that) we get an end to the shutdown in the next 24 hours, it seems a bit clearer now that we're moving in that direction, that the gears are starting to shift. "We don't think it's going to lead to a really sustained selloff in rates, just because it's not like markets had responded that negatively to the shutdown in the first place. Markets treated this assuming it was going to end." GEORGE BOUBOURAS, HEAD OF RESEARCH, K2 ASSET MANAGEMENT, MELBOURNE "Any resolution to the shutdown is obviously a good signal for markets. They will know the shutdown to date will be a negative for the economy, but it will reinforce the Fed's easing bias." LLOYD CHAN, SENIOR CURRENCY ANALYST, MUFG, SINGAPORE "A deal to end the government shutdown could spark a meaningful market reaction, primarily by reducing data uncertainty and lifting investor sentiment. The recent rebound in U.S. equities appears driven by a combination of technical recovery following the recent sell-off and optimism that a resolution to the shutdown may be near." HEMANT MISHR, CHIEF INVESTMENT OFFICER, S CUBE CAPITAL, SINGAPORE "This is an interim solution, because it only solves the problem till the end of January 2026... This is, in some ways, a relief rally. "The biggest fear in the market has been its impact on Q4 numbers, because the economy will slow down, and the lack of relevant data also has been something that's been holding them back. I think obviously the data flow will help, but more importantly, the real economy will not shrink." PRASHANT NEWNAHA, SENIOR ASIA-PACIFIC RATES STRATEGIST, TD SECURITIES, SINGAPORE "Our expectation is that the next step is for a House vote on Wednesday, with the government set to re-open this Friday. "No doubt the U.S. shutdown has had a negative economic impact but markets are likely to expect the economy to rebound quickly once it ends. Beyond the positive headlines, the direct read through from an end to the U.S. shutdown should be limited beyond early next week." VASU MENON, MANAGING DIRECTOR FOR INVESTMENT STRATEGY, OCBC, SINGAPORE "Equities aside, gold is also a potential beneficiary of the re-opening. If ending the shutdown means the government can release delayed economic data, this may give the Fed room to ease policy sooner if the data shows slowing economic growth. Markets might interpret that as a lower interest rate environment, which is positive for gold." https://www.reuters.com/business/view-markets-cheer-signs-progress-end-us-government-shutdown-2025-11-10/

2025-11-10 06:21

SINGAPORE/NEW DELHI, Nov 10 (Reuters) - Two Indian state refiners have purchased 5 million barrels of crude oil from spot markets via tenders as they continue to scout for alternatives to Russian supplies, trade sources said. Hindustan Petroleum Corp (HPCL.NS) , opens new tab has bought 2 million barrels each of U.S. West Texas Intermediate crude and Abu Dhabi's Murban crude for January arrival, they said. Sign up here. Mangalore Refinery and Petrochemicals Ltd (MRPL.NS) , opens new tab has bought one million barrels of Basra Medium crude for January 1-7 delivery, they said. The identity of the sellers and pricing details were not immediately known. Indian refiners are scouting for alternatives after U.S. President Donald Trump imposed sanctions on Rosneft (ROSN.MM) , opens new tab and Lukoil (LKOH.MM) , opens new tab, Russia’s two largest oil companies, in an attempt to pressure President Vladimir Putin to end the war in Ukraine. MRPL has paused purchase of Russian oil due to the risks involved, a company source said last month. HPCL, which has cut its intake of Russian oil in the last few months, has also paused imports from Russia. https://www.reuters.com/world/india/indias-hpcl-mrpl-buy-5-million-barrels-us-mideast-oil-sources-say-2025-11-10/