Latest Finance-Economy News
Gold Hits Record $4,800 Amid Market Uncertainty
Gold prices crossed $4,800 for the first time, up 1.7% as investors sought safe havens due to geopolitical tensions including the Greenland dispute. Silver also reached records as stocks declined on tariff fears.
This flight to safety reflects broader market swoon over trade uncertainties.
US Futures Edge Higher Despite Stock Selloff
US futures rose slightly while the S&P 500 had its worst day since October, down 2% on tariff fears. Tech giants like Nvidia fell 4.4% and Apple 3.5%, with retailers and banks also hit hard.
Markets react to Trump's proposed 10% tariffs on several European nations starting February.
Trump Announces Tariffs on European Countries
President Trump plans 10% tariffs on Denmark, Norway, Sweden, Germany, France, UK, Netherlands, and Finland from February, atop a 15% EU trade deal tariff. This escalates trade tensions, contributing to global stock losses.
Asian markets mixed, with Hong Kong up 0.4% but Tokyo's Nikkei down 0.4%.
Japan PM Calls Snap Election, Bond Yields Spike
Japanese PM Sanae Takaichi called a snap election for Feb. 8, pushing long-term government bond yields to records amid debt concerns. Plans for tax cuts and spending boost heighten fiscal worries.
BOJ meets Friday; markets urge stronger rate signals to stabilize JGB curve.
Philippines Raises $2.75B from Dollar Bond Sale
The Philippines secured $2.75 billion from a new dollar bond sale, raising questions on debt impact and public spending. This bolsters finances amid economic challenges.
BOC revenues reached ₱934.4B in 2025, up ₱17.7B despite hurdles.
Over 90% of PH Basic Goods Hold Prices Amid Costs
More than 90% of basic goods in the Philippines maintained prices despite rising costs, but sustainability is questioned. Price stability's duration under pressure is a key concern for consumers and policymakers.
This comes alongside stable public spending discussions.
DOJ Indicts Modesto OPC for Illegal Investments
The Philippine DOJ indicted Modesto OPC over an illegal investment scheme, probing further accountability. Investigations continue into potential additional parties involved.
This highlights ongoing crackdowns on financial fraud in the region.
Japan Faces Fiscal Sustainability Debate at Davos
Japan's tax cuts and stimulus plans, including consumption tax reduction blowing a $32B budget hole, spark concerns. Officials emphasize primary balance surplus for first time in 28 years.
Market participants urged to calm as BOJ eyes rate hikes.
Chinese Stocks Gain Amid Global Losses
Hong Kong’s Hang Seng rose 0.4% to 26,584.57 and Shanghai Composite up 0.1% despite broader market declines. China defends its economic model at Davos, aiming to be world’s market.
This resilience contrasts with tariff-driven volatility elsewhere.
Oil Prices Drop as Crude Falls to $59.80
US benchmark crude lost 56 cents to $59.80 per barrel, Brent to $64.22 amid geopolitical risks from Russia, Venezuela, Iran. Cautious outlooks prevail for oil giants due to these tensions.
Markets watch Fed's upcoming policy meeting for rate stability bets.
PH Lifts Ban on AI Chatbot Grok After Safety Pact
Philippines to lift ban on xAI's Grok after Musk-led firm agrees to safety measures, questioning if safeguards suffice. This regulatory shift impacts tech adoption in the region.
Broader business updates highlight AI's growing role amid finance news.