U.S. President Donald Trump announced that Taiwan has agreed to purchase 30% of the gas from a proposed liquefied natural gas (LNG) project in Alaska, calling the deal a "guarantee of success." Trump has also intensified pressure on South Korea to join the project, hinting at potential tariff increases if Seoul refuses to sign on promptly.
Meanwhile, Ukrainian President Volodymyr Zelenskyy is set to meet with UK Prime Minister Andy Burnham to discuss additional support for Ukraine. Burnham is expected to propose further sanctions, military aid, and fiscal packages following recent Russian attacks on Ukrainian energy infrastructure, which left hundreds of thousands without power.
ASML, a key player in the semiconductor industry, reported strong third-quarter results, with customers already looking to place orders for its advanced tools as far out as 2029 and 2030, driven by sustained AI demand. The news is likely to reassure investors concerned about long-term demand for the company’s lithography machines.
In Asia, economic data revealed mixed signals. China’s producer prices surged at their fastest pace in over four years, while Singapore’s GDP growth softened to 5.4% in the third quarter due to a manufacturing slowdown. The Philippines is bracing for a severe El Niño, which could exacerbate inflationary pressures already heightened by prolonged oil shocks. Meanwhile, Hyundai Motor unveiled plans for a $15.5 billion investment in India by 2032, citing its strategic importance to the company’s growth.