Malaysian Shares End High on Positive CPI Data, Interest Rate Decision

Singapore shares remained in the red zone on Wednesday, failing to track overnight gains in global markets.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,781.21 and 3,811.53 throughout the day. It ended the session at 3,781.21, down 14.16 points or 0.37% compared to Tuesday's close.

In corporate news, shares of CNMC Goldmine 5 were up nearly 2% after the company forecasted a "significant overall improvement" in its net profit for the year ended Dec. 31, 2024.

Sabana Industrial REIT was up over 1% after the REIT booked a distribution per unit or DPU of SG$0.0152 for the second half ended Dec. 31, 2024, up from SG$0.0115 a year earlier.

Tallinn increased to a 12-month high of 1822.00 Index Points.

Over the past 4 weeks, Estonia Stock Market Index (Tallinn) gained 4.65%, and in the last 12 months, it increased 1.31%.

Woodside Energy Remains Uninterested in Upstream U.S. Gas Position

Woodside CEO Meg O'Neill said the company is taking part in discussions with parties interested in taking a stake in the development.

Oil ends lower as Trump's output and tariffs plans fuel supply uncertainty

Oil futures ended lower on Tuesday as traders weighed prospects for crude supplies after President Donald Trump vowed to boost already record U.S. crude output, threatened to implement a steep tariff on Canadian imports and called for replenishing the Strategic Petroleum Reserve.

Oil Majors Flirt With Electricity

As power generators such as Vistra soar, oil-and-gas giants are dipping their toes into a business where they have some natural advantages.

Orsted Shares Plunge on $1.7 Billion Impairment

Shares in the renewable-energy company sank to the bottom of the Stoxx Europe 600 index Tuesday after it announced the impairment amid higher costs at its U.S. Sunrise Wind project.

Energy & Utilities Roundup: Market Talk

Find insight on oil prices, Orsted, Seatrium and more in the latest Market Talks covering Energy and Utilities.

The Aspiring $110 Billion Energy Company Banking on Trump's Return

U.S. natural gas exporter Venture Global plans to go public at an auspicious time for the LNG industry, cementing the firm's meteoric rise.

Exxon Mobil and Chevron Megadeals Are Cleared of FTC Antitrust Concerns

Pioneer Natural Resources' former CEO and Hess's CEO are prohibited from serving on the oil companies' boards

Garcia's Take: Flowco's IPO Success Tied More to Company Than Sector

The provider of oil production-enhancement services saw its share price jump about 24% in its first day of trading.

SLB Stock Gains on Topped Forecast, $2.3 Billion Buyback

Shares of SLB advanced after the oilfield services giant announced a $2.3 billion stock buyback, bumped dividend payouts higher and reported quarterly earnings that topped Wall Street views.

Fire at One of World's Largest Battery Plants Prompts Evacuations in California

Authorities haven't determined what sparked the blaze.

Hong Kong stocks snapped their six-day winning streak on Wednesday after news emerged that the US will maintain a 10% tariff on all Chinese imports starting in February.

The Hang Seng Index fell 1.63%, or 327.78 points, to close at 19,778.77 on Wednesday. The Hang Seng China Enterprises Index fell 1.96%, or 143.74 points, to end at 7,177.14.

US President Donald Trump's tariff threat follows allegations that China is sending fentanyl to Mexico and Canada.

Meanwhile, tech stocks took a particular hit following an announcement by the US of a major private-sector artificial intelligence venture, Stargate.

This initiative, launched by OpenAI, SoftBank, and Oracle with an initial investment of $100 billion, aims to establish data centers and potentially reach $500 billion in funding over the next four years. This move is seen as a direct challenge to China's AI ambitions.

At home, Hong Kong reported that overall consumer prices rose by 1.4% year on year in December 2024, unchanged from the pace of growth the previous month.

Excluding the city's relief measures, the underlying inflation rate was 1.3% during the reporting month, marginally larger compared with 1.2% in November 2024.

In market news, JD.com closed over 4% lower on Wednesday, Meituan ended nearly 4% lower with Alibaba Group finished over 3% lower, and Tencent fell over 1% on Wednesday's close.

In corporate news, Zengame Technology expects a year-over-year decline of around 35% to 45% in attributable profit for the year 2024. Shares of the company fell nearly 13%.

Elsewhere, Summi received a winding-up petition filed on Jan. 10 in the Hong Kong High Court related to the overdue payment of a $12.6 million principal amount along with accrued interest of a master facility deed dated Oct. 23, 2020, plummeting the company's shares over 9% on Wednesday's close.

Holders of 10 bonds issued by Sunac China's unit Sunac Real Estate have approved its debt restructuring plan, allowing it to reduce its onshore debt. Shares of the company closed over 4% lower on Wednesday.

The FTSE MIB rose 0.4% to around 36,210 in early trading on Wednesday, recouping losses from the previous two sessions and approaching its highest level since early 2008.

Traders continued to assess the implications of US President Donald Trump's pledge to impose tariffs on the European Union and his reiterated consideration of a 10% tariff on China, following his earlier statement about prospects of imposing hefty levies on Canada and Mexico.

In response, the EU commissioner stated on Wednesday that Europe would respond proportionately to any US tariffs.

Meanwhile, ECB President Christine Lagarde noted that the central bank is "not overly concerned" about the impact of export inflation on the eurozone.

On the corporate front, Prysmian led gains, surging over 2%.

Other notable performers included Snam, Recordati, Nexi, and Diasorin, all of which rose more than 1%.

European stocks climb in early trade, with Germany's DAX and the U.K.'s FTSE 100 rising to record highs amid investor hopes on trade tariffs and earnings updates. The German blue-chip index leads the way, up 1% after closing at record levels for five trading days in a row, boosted by sportswear company Adidas which reported positive preliminary 2024 results. The FTSE 100 is up 0.3%, having logged record closing highs in the past three sessions, with Intermediate Capital Group as the top riser after a quarterly update. The Stoxx Europe 600 climbs 0.6% and could close at a new record if gains are maintained until the end of the session. "Investors are batting away concerns about the impact of President Trump's policies on the global economy," Hargreaves Lansdown's Susannah Streeter says. (adria.calatayud@wsj.com)