https://www.scmp.com/rss/523416/feed The latest news and top stories on Stephen Innes, the managing partner of SPI Asset Management. Formerly the Chief Global Market Strategist at AxiTrader, he is a frequent commentator on global news channels and contributes to major financial publications. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Zhang Shidong Zhang Shidong Expectations of monetary tightening by global central banks have intensified, triggering a fresh wave of sell-offs in risk assets as the US-Israel war with Iran enters its fourth week. Rates traders are now projecting no rate cuts by the Federal Reserve this year after chair Jerome Powell said last week that rising oil prices added uncertainty to the monetary outlook. That stands in contrast to the forecast of two reductions before the outbreak of the hostilities in the Middle East. The European... https://www.scmp.com/business/china-business/article/3347552/global-markets-brace-rate-hikes-iran-war-and-us100-oil-stoke-tightening-fears?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347552/global-markets-brace-rate-hikes-iran-war-and-us100-oil-stoke-tightening-fears?utm_source=rss_feed Mon, 23 Mar 2026 06:09:38 +0000 Zhang Shidong Zhang Shidong A recession mindset took hold among global investors after strikes on energy infrastructure in the Middle East heightened fears that disruption to production and distribution would keep oil prices elevated for longer, darkening the global economic outlook. Crude prices staged a comeback on Thursday after Iran attacked a liquefied petroleum gas site in Qatar in retaliation for Israel’s strikes on its South Pars gas field. Brent futures surged 5.5 per cent to US$113.53 a barrel in London, and... https://www.scmp.com/business/china-business/article/3347170/recession-fears-grip-markets-energy-facilities-come-under-fire-middle-east?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347170/recession-fears-grip-markets-energy-facilities-come-under-fire-middle-east?utm_source=rss_feed Thu, 19 Mar 2026 11:30:08 +0000 Zhang Shidong Zhang Shidong South Korea and Japan have led declines in global stock markets amid the oil shock, underscoring how supply disruptions in the Middle East are weighing on growth in economies heavily reliant on fuel imports. The Kospi index in Seoul has slumped 12 per cent since the US-Israel war with Iran broke out on February 28, while Tokyo’s Nikkei 225 has slid nearly 9 per cent. South Korea last week moved to cap oil price increases to limit inflation, while rising crude costs added to price pressures in... https://www.scmp.com/business/china-business/article/3346729/south-korea-and-japan-bear-brunt-global-stock-sell-offs-amid-oil-shock?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346729/south-korea-and-japan-bear-brunt-global-stock-sell-offs-amid-oil-shock?utm_source=rss_feed Mon, 16 Mar 2026 23:30:07 +0000 Zhang Shidong Zhang Shidong Crude oil’s surge above US$100 a barrel could last longer than expected, reshaping investors’ outlook for the global economy and injecting fresh volatility into risk assets as military tensions in the Middle East show no sign of easing, according to analysts. Brent crude jumped 23 per cent to US$114.14 a barrel in London on Monday, while West Texas Intermediate (WTI) rose 24 per cent to US$113.11. Traders are increasingly pricing in a prolonged supply disruption after Iran closed the Strait of... https://www.scmp.com/business/china-business/article/3345952/oil-above-us100-may-persist-goldman-warns-rally-not-over?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3345952/oil-above-us100-may-persist-goldman-warns-rally-not-over?utm_source=rss_feed Mon, 09 Mar 2026 07:30:41 +0000 Zhang Shidong Zhang Shidong The fallout from surging oil prices has rippled across global asset classes, from stocks to bonds, as escalating military tensions in the Middle East reset investors’ expectations for inflation and the path of central bank policy. As US military strikes against Iran intensified, Brent crude traded near a two-year high of US$82.98 a barrel, while futures in New York touched US$75.75, a level not seen since January 2025. The spike in energy costs has revived fears of a renewed bout of inflation,... https://www.scmp.com/business/china-business/article/3345390/middle-east-flashpoint-rattles-markets-oil-surge-stokes-inflation-fears?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3345390/middle-east-flashpoint-rattles-markets-oil-surge-stokes-inflation-fears?utm_source=rss_feed Wed, 04 Mar 2026 07:50:37 +0000 Zhang Shidong Zhang Shidong A landslide victory by Japan’s ruling party in an early parliamentary election aided a recovery in risk assets on Monday after a global tumult spurred by an unwinding of a stampede trade in commodities, as investors boosted bets that Prime Minister Sanae Takaichi would double down on government spending to sustain growth and inflation. Stocks in the Asia-Pacific region surged after Takaichi’s Liberal Democratic Party secured a two-thirds supermajority in the 465-seat lower house in the snap... https://www.scmp.com/business/china-business/article/3342880/nikkei-smashes-record-takaichis-landslide-victory-ignites-japan-back-trade?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342880/nikkei-smashes-record-takaichis-landslide-victory-ignites-japan-back-trade?utm_source=rss_feed Mon, 09 Feb 2026 05:00:12 +0000 Yulu Ao,Zhu Wenqian Yulu Ao,Zhu Wenqian A global swing over the past few days - from technology stocks to commodities and then extending to already sold down cryptocurrencies - has rattled investors, as violent cross-asset moves force markets to face a fundamental repricing in the digital economy and the broader implications of artificial intelligence. Analysts now warn that heightened volatility across asset classes could persist for months. The reassessment has played out through sharp declines across major benchmarks, led by a... https://www.scmp.com/business/china-business/article/3342680/tech-sell-rattles-investors-cross-asset-volatility-set-linger?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342680/tech-sell-rattles-investors-cross-asset-volatility-set-linger?utm_source=rss_feed Fri, 06 Feb 2026 09:56:10 +0000 Yulu Ao Yulu Ao Hong Kong stocks edged up on Thursday, as robust southbound inflows overcame losses in technology shares driven by valuation and AI-related concerns. The Hang Seng Index ended 0.1 per cent higher at 26,885.24 as of the close of trading, after dropping as much as 1.6 per cent. The Hang Seng Tech Index gained 0.7 per cent. On the mainland, both the CSI 300 Index and the Shanghai Composite Index lost 0.6 per cent. Search-engine operator Baidu rose 2.7 per cent to HK$140.90 after unveiling a US$5... https://www.scmp.com/business/china-business/article/3342440/alibaba-kuaishou-smic-drop-hong-kong-tech-stock-sell-ai-fears-grip?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342440/alibaba-kuaishou-smic-drop-hong-kong-tech-stock-sell-ai-fears-grip?utm_source=rss_feed Thu, 05 Feb 2026 02:13:15 +0000 Aileen Chuang Aileen Chuang A sudden spike in volatility in Japanese government bonds (JGBs) – long seen as among the world’s safest assets – is stoking concern that risk aversion is rippling through Asian markets across asset classes, according to analysts. Investors have repriced the term and risk premiums on JGBs as fiscal worries that started simmering last year have flared again after Prime Minister Sanae Takaichi pledged tax cuts and higher spending. The 40-year bond yield rose above 4 per cent on Tuesday, the... https://www.scmp.com/business/commodities/article/3340667/japan-bond-volatility-raises-contagion-alarm-asias-stocks-and-debt?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3340667/japan-bond-volatility-raises-contagion-alarm-asias-stocks-and-debt?utm_source=rss_feed Wed, 21 Jan 2026 07:11:50 +0000 Zhang Shidong Zhang Shidong The US assault on Venezuela jolted the global commodity markets, sending gold higher and reinforcing the long-term bearish view on crude oil as investors navigate rising geopolitical tensions to start 2026. The weekend military raid on the South American country – home to the world’s largest oil reserves – added more weight to a call by Wall Street firms including JPMorgan Chase and Bank of America that gold prices would touch US$5,000 an ounce by the end of the year. Franklin Templeton and... https://www.scmp.com/business/china-business/article/3338771/gold-oil-jolted-us-assault-venezuela-investors-recalibrate-amid-commodity-boom?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3338771/gold-oil-jolted-us-assault-venezuela-investors-recalibrate-amid-commodity-boom?utm_source=rss_feed Mon, 05 Jan 2026 09:30:10 +0000 Enoch Yiu Enoch Yiu Gold has hit multiple records in 2025, but analysts believe the rally is far from over, with some forecasting the yellow metal could climb to US$5,000 per ounce amid geopolitical tensions and a buying spree by central banks. Spot gold broke through the US$4,500-per-ounce mark for the first time, reaching a record US$4,510 on Christmas Eve on Wednesday, which was 72 per cent higher than the end of last year, when it stood at US$2,624. This was the biggest annual jump for the precious metal,... https://www.scmp.com/business/banking-finance/article/3337563/golden-era-prices-surge-rally-heads-towards-us5000-2026-analysts-forecast?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337563/golden-era-prices-surge-rally-heads-towards-us5000-2026-analysts-forecast?utm_source=rss_feed Thu, 25 Dec 2025 01:30:14 +0000 Zhang Shidong Zhang Shidong Chinese investors have seen 390 million yuan (US$54.8 million) wiped off the value of exchange-traded funds (ETFs) tracking Japanese stocks, as relations between the Asian neighbours plunge to a new low after Prime Minister Sanae Takaichi’s remarks on Taiwan drew the ire of Beijing. The five ETFs listed on mainland exchanges – four tracking the Nikkei 225 and one mimicking the Topix index – have dropped about 5 per cent over the past two weeks, underscoring how worsening ties could weigh heavily... https://www.scmp.com/business/china-business/article/3333554/chinese-investors-lose-us55-million-japan-etfs-ties-tokyo-hit-new-low?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3333554/chinese-investors-lose-us55-million-japan-etfs-ties-tokyo-hit-new-low?utm_source=rss_feed Thu, 20 Nov 2025 23:30:08 +0000 Zhang Shidong Zhang Shidong Zijin Mining Group and other Chinese gold producers may get another boost from a spurt in the price of the precious metal, as some investment banks and asset managers believe the record-breaking rally in bullion is far from over. Gold reclaimed the US$4,100 an ounce level this week, indicating that a brutal sell-off last month that sent it plunging from a record US$4,381 may be over. UBS Group’s global wealth management unit predicts that gold will hold onto the US$4,200 level in the next 12... https://www.scmp.com/business/china-business/article/3332339/chinese-gold-stocks-set-shine-ubs-and-schroders-see-bullion-extending-gains?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3332339/chinese-gold-stocks-set-shine-ubs-and-schroders-see-bullion-extending-gains?utm_source=rss_feed Tue, 11 Nov 2025 23:30:09 +0000 Zhang Shidong Zhang Shidong Zijin Mining Group and other gold producers slumped in Hong Kong and Chinese mainland trading, tracking the steepest decline in the yellow metal in 12 years after investors took profits from a torrid rally and geopolitical risks showed signs of receding. Fujian province-based Zijin Mining tumbled 1.7 per cent to HK$31.80 in the city, while Shandong Gold Mining plunged 2.6 per cent to HK$34.50 and Chifeng Jilong Gold Mining sank 3 per cent to HK$28.52. A gauge of 43 gold-linked stocks trading on... https://www.scmp.com/business/china-business/article/3329890/chinese-gold-producers-tumble-after-bullions-biggest-drop-12-years-shatters-record-run?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3329890/chinese-gold-producers-tumble-after-bullions-biggest-drop-12-years-shatters-record-run?utm_source=rss_feed Wed, 22 Oct 2025 07:00:09 +0000 Yulu Ao Yulu Ao Hong Kong stocks rose to a four-year high on Monday, led by technology companies, as investors bet that sluggish economic data would prompt stimulus measures while rate-cut expectations lifted sentiment and US-China talks entered a second day. The Hang Seng Index added 0.2 per cent to 26,446.56 as of the close of trading, the highest level since August 12, 2021. The Hang Seng Tech Index advanced 0.9 per cent. On the mainland, the CSI 300 Index added 0.2 per cent and the Shanghai Composite Index... https://www.scmp.com/business/china-business/article/3325525/hong-kong-stocks-holding-pattern-amid-us-china-talks-home-prices-weigh-sentiment?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3325525/hong-kong-stocks-holding-pattern-amid-us-china-talks-home-prices-weigh-sentiment?utm_source=rss_feed Mon, 15 Sep 2025 02:13:26 +0000