The city skyline is seen with the iconic Taipei 101 building from a viewpoint on Elephant Mountain in Taipei on April 14, 2025. (Photo by I-Hwa Cheng / AFP) (Photo by I-HWA CHENG/AFP via Getty Images)
I-hwa Cheng | Afp | Getty Images
Hello, this is Justina Lee writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.
Taiwan has agreed to buy 30% of the gas from a proposed liquefied natural gas project in Alaska, according to US President Donald Trump.
The latest economic data from Asia on Wednesday offers clues to the region’s growth prospects, with Chinese producer prices rising to their highest level. fastest pace in more than four years.
Meanwhile, in Europe, the UK is set to host Ukrainian President Volodymyr Zelenskyy.
What you need to know today
US President Trump told a rally that Taiwan had agreed to buy 30% of the gas from a proposed liquefied natural gas project in Alaska, adding that the deal “guarantees success”.
Trump has increased pressure on South Korea to participate in the project, warning earlier that he would charge the country more and threaten to double down on charges if Seoul did not sign soon. South Korean media speculated that Trump was referring to higher tariffs.
Zelensky will meet with British Prime Minister
British Prime Minister Andy Burnham is expected to welcome Ukrainian President Volodymyr Zelenskyy as European leaders gather to show their support for the country. Zelensky is expected to meet EU leaders on Friday, the second day of the European Council summit.
Burnham is expected to tell Zelensky that he has asked his ministers to develop new sanctions, military support and fiscal plans to provide urgent support in the coming weeks.
It comes after Russia launched an attack on Ukraine’s energy infrastructure overnight, leaving at least 600,000 people without power in the kyiv and Kharkiv regions.
ASML results
ASML, a barometer of the global chip industry, released its third-quarter results on Wednesday. The Dutch semiconductor equipment maker said some of its customers are expressing interest in placing orders for its critical semiconductor tools for 2029 and 2030 as demand for AI remains strong.
These comments will likely provide comfort to investors who were looking to gauge the long-term demand outlook for ASML’s lithography machines.
Asian Economic Data
Traders continue to digest the latest economic data from Asia on Wednesday, looking for clues about the region’s economic outlook.
In September, Chinese producer prices rose at their fastest pace in more than four years, as rising fuel prices drive up costs for businesses.
Singapore data released on Wednesday showed GDP growth slowed to 5.4% in the third quarter, after hitting a four-year high in the previous quarter. The decline of the city-state’s manufacturing sector contributed to the slowdown, although this was offset by an expansion in the construction sector.
In the Philippines, the country’s central bank is bracing for a “Godzilla” El Niño, which would exacerbate the effects of a prolonged oil shock, as it tries to bring inflation under control from its highest level in three years.
Meanwhile, Korean automaker Hyundai Motor revealed that it is planning a “strategic” investment of $15.5 billion in the country by 2032. The company said India is a strategic market at the heart of the company’s growth and expansion plans in emerging markets.
Rising oil prices weigh on confidence
In oil markets, Brent and WTI prices rose Wednesday on concerns over supply disruptions as tensions in the Middle East continue to escalate between the Iran-backed Houthis and Saudi Arabia.
And finally…
Gn world
