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US President Trump: The United States is working to supplement and expand weapons production to strengthen U.S. defense manufacturing capabilities.On September 14th, Balaji Krishnamurthy, President of Chevron Australia, stated that liquefied natural gas (LNG) prices, which have surged since the outbreak of the Iraq War, are unlikely to decline in the short term. He said on Monday that he "doesnt see prices falling" in the next six months or so, noting that "Australian LNG currently enjoys a premium" due to Australias geographical proximity to Asia. The US oil giant operates the Gorgon and Wheatstone projects in Australia and has benefited from the price surge caused by the disruption of Qatari exports. Qatar previously accounted for about one-fifth of global LNG production. However, this has also led to some demand disruption in the short term, and there is a risk of declining consumption in the long term as countries seek alternatives to mitigate future supply shocks. Krishnamurthy stated that the rise of artificial intelligence will be a key source of LNG demand growth, presenting opportunities for Australian data centers. He added that the war has also led customers to increasingly seek long-term supply contracts, as energy security is now a top priority. He said, "In the short term, we will continue to see some demand adjustments," but "in the long term, the fundamentals, especially for LNG, remain very strong."Chevron Australia President: LNG prices are expected to remain high over the next six months.According to US financial media Semafor: US President Trump has agreed to allow states to file lawsuits against violations of the Clarity Act.On September 14th, the State Administration for Market Regulation (National Standardization Administration) approved and released four mandatory national standards for mine safety, including the "Specification for Survey of Hidden Disaster-Causing Factors in Mines" and the "Technical Conditions for Lithium-ion Power Batteries Used in Underground Mines," providing unified mandatory technical standards for mine risk prevention and equipment safety. These standards, formulated by the National Mine Safety Administration, will come into effect on March 1, 2027.

Fears of Stagflation Caused by Tightening Policies Increase As Asian Stocks Fluctuate

Haiden Holmes

Jun 15, 2022 11:11

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Asia-Pacific stocks were mixed this morning, Wednesday. Ahead of a U.S. Federal Reserve meeting that is likely to provide strong tightening decisions, U.S. share markets continued to decline.


Nikkei 225 dropped 0.67 percent at 10:49 PM ET (2:49 AM GMT).


The KOSPI decreased by 1.21 percent.


Australia's ASX 200 index declined 0.38 percent.


Hong Kong's Hang Seng gained 1.14 percent .


Shenzhen Component rose 0.49 percent and Shanghai Composite rose 0.90 percent.


China's industrial output climbed by 0.7% year-over-year in May, according to statistics released on Wednesday, which was marginally higher than market estimates. In April, a decrease of 2.9% was seen, whereas Investing.com had expected a decrease of 0.7%.


Nonetheless, as Beijing saw clusters of COVID-19 breakouts, the city's officials warned on Tuesday that the city was in a "race against time," heightening concerns that the reinstatement of harsh restrictions might harm the city's economy and global supply chain.


The S&P 500 finished down for the fifth consecutive day due to concerns that Fed measures to tighten monetary policy to calm raging inflation might lead to stagflation.


Investors are now betting on aggressive interest rate rises, such as 75 basis points from the Fed, which would be the largest increase since 1004


Steve Englander, director of global G10 FX research at Standard Chartered Bank, wrote in a note, "Inflation is front and center in the headlines and asset markets, and few are voicing worry about over tightening the monetary policy."

After their greatest decline in decades, Treasuries stabilized. Two-year rates recovered after reaching a level not seen since 2007, while 10-year yields retreated from around 3.5 percent.


Barbara Ann Bernard, chief investment officer of Wincrest Capital Ltd., told Bloomberg, "The sooner they are explicit about how rapidly they would increase interest rates and what amount of inflation they consider acceptable, the sooner the markets will settle down."


The Bank of England will announce its policy decision on Thursday, while the Bank of Japan will announce its decision on Friday.


Bitcoin's value on the cryptocurrency market steadied at $22,000.


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