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Asia

Market Chatter: Southeast Asians Turn to New Crude Oil Suppliers Amid Middle East Crisis

Southeast Asian countries are changing where they buy crude oil, moving away from Gulf suppliers and turning to places like the US, Brunei and Libya, Nikkei Asian Review reported Monday, citing trade data and Kpler shipping figures.The shift comes as disruptions in Middle Eastern supply routes have hit flows through the Strait of Hormuz, pushing import-reliant economies such as Thailand and Vietnam to look for new sources. Thailand's imports from the UAE fell sharply in April, while shipments from Brunei and Libya increased, according to the report.Vietnam has also reworked its supply mix, with lower volumes from traditional suppliers offset by arrivals from countries including Angola, Argentina and the United States. Singapore has similarly cut reliance on Gulf crude, with most of its imports now sourced from the US, the news outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

Vietnam's Inflation Accelerates to 5.46% in April

Vietnam's consumer price index (CPI) rose 5.46% year on year in April, faster than the 4.65% growth in the previous month, according to data from the country's General Statistics Office on Monday.Monthly, the CPI edged up 0.84%, the data showed.Core inflation, which excludes selected food and energy items, stood at 3.89% in April.In the first four months of 2026, the CPI rose 3.99% on average, compared with the same period last year.

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International

Vietnam's Industrial Production Growth Accelerates to 9.9% in April

Vietnam's industrial production index (IIP) rose 9.9% year on year in April, according to data from the country's General Statistics Office on Monday.The pace of growth accelerated from the 6.9% expansion in March.On a month-over-month basis, the index increased 3% in April from March, recovering from the 18.8% drop between February and March.By sector, manufacturing and processing output grew 10% year on year, while electricity production and distribution rose 10.9%.Mining output increased 7.6%, while water supply, waste management and treatment activities climbed 7.1%, the data showed.

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International

Vietnam's Manufacturing Growth Slows as Costs Hit 15-Year High, S&P Global Says

Vietnam's manufacturing sector expanded at a slower pace in April as new orders fell and cost pressures surged, according to data released Monday by S&P Global.The S&P Global Vietnam Manufacturing PMI slipped to 50.5 in April from 51.2 in March, a seven-month low, signalling a tenth straight month of expansion but only marginal growth.New orders declined for the first time in eight months, with export orders falling for a second consecutive month amid higher transportation costs.Output continued to rise for the twelfth month, though growth eased to a ten-month low as rising costs, supply shortages, and market instability linked to the Middle East war weighed on activity.Input costs rose at the fastest pace in 15 years, driven by higher fuel, oil, and transportation costs, prompting firms to raise selling prices at the sharpest rate since April 2011.Firms cut employment, purchasing activity and inventories, while supplier delivery times lengthened sharply and business confidence weakened to a seven-month low

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US Markets

ADB Pledges $70 Billion For Energy, Digital Networks Across APAC as Middle East Conflict Batters Outlook

The Asian Development Bank is committing $70 billion to support new energy and digital infrastructure initiatives across the Asia-Pacific region by 2035.ADB President Masato Kanda announced the pledge on Sunday during the lender's annual meeting in Uzbekistan."Energy and digital access will define the region's future," said Kanda. "These two initiatives build the systems Asia and the Pacific need to grow, compete, and connect. By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people."The pledge comes as the ADB sharply downgraded its forecast for the APAC region, citing energy disruptions from the ongoing Middle East conflict.On Wednesday, the ADB slashed its GDP growth outlook for developing Asia and the Pacific to 4.7% in 2026 from the previous 5.1% forecast.Inflation for 2026 is projected to accelerate to 5.2% in 2026 from 3% in 2025, before easing to 4.1% in 2027."Our revised outlook is a significant downward revision for growth and a sharp increase in inflation following a special update to reflect the deepening crisis," Kanda said at the time.The bank's new outlook assumes that oil prices average around $96 a barrel in 2026, well above the $69 per barrel average in January and February before the Middle East conflict. The bank expects oil prices to ease to around $80 per barrel in 2027."We are confronting systemic, long-lasting disruptions to global energy and trade networks, not just temporary volatility. ADB will remain an agile partner in protecting the region's economy; tracking fast-moving risks, and moving with urgency to scale up our support," Kanda added.Diesel prices across several Southeast Asian countries have increased by more than 100% since late February, the ADB said in its updated outlook report.The ADB also noted in its Wednesday report that the energy shock is also affecting fertilizer prices, which it said could add to food inflation, particularly for economies most dependent on Middle East imports.Against that backdrop, the ADB is committing $70 billion to build new energy and digital infrastructure in Asia and the Pacific by 2035.The largest investment, worth $50 billion, will be allocated towards cross-border power infrastructure to unlock renewable energy at scale, the ADB said.The project will focus on transmission and grid integration, including cross-border lines, substations, storage, and grid digitalization, according to the lender.By 2035, the bank aims to integrate about 20 gigawatts of renewable energy across borders, connect 22,000 circuit-kilometers of transmission lines, and cut regional power sector emissions by 15%, while improving energy access for around 200 million people.The remaining $20 billion will fund the Asia-Pacific Digital Highway, targeting digital corridors, data infrastructure, and AI-ready economies.The project aims to bring first-time broadband access to 200 million people and cut connectivity costs in remote and landlocked areas by about 40%.The South Korean government will back a new Center for AI Innovation and Development in Seoul with a $20 million contribution. The center will aim to train about 3 million people in digital and AI-related skills by 2035.Separately on Sunday, the ADB also unveiled a Critical Minerals-to-Manufacturing Financing Partnership Facility designed to help the region move beyond mining into higher-value industries such as processing, manufacturing, and recycling.Japan committed $20 million to the grant window, the UK contributed $1.6 million, and the Korea Eximbank and the Korean Trade Insurance Corporation each signed $500 million memorandums as the facility's first partners.

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International

ADB Cuts Economic Growth Projections for Developing Asia Amid Middle East Crisis

The Asian Development Bank sharply downgraded its economic growth forecasts for developing Asia and the Pacific while raising inflation projections, citing prolonged disruptions from the Middle East conflict that are driving up energy prices and tightening financial conditions.The bank now expects regional growth of 4.7% in 2026 and 4.8% in 2027, down from its earlier forecast of 5.1% for both years. Meanwhile, inflation is projected to accelerate to 5.2% this year before slowing to 4.1% in 2027, according to the latest ADB report.ADB said the revisions reflect sustained pressure on oil and gas prices, with crude expected to average about $96 per barrel in 2026, significantly higher than pre-conflict levels, weighing on fuel-importing economies.Under a more severe scenario, growth could ease further to 4.2% this year and 4% next year, while inflation may spike to 7.4% in 2026, the bank added, urging targeted fiscal support and measured monetary responses.

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Asia

Market Chatter: Idemitsu Kosan to Supply Nearly 4 Million Barrels of Crude Oil to Vietnam

Japanese petroleum company Idemitsu Kosan (TYO:5019) will supply Vietnam with around 4 million barrels of crude oil via shipping routes that avoid the Strait of Hormuz, the Nikkei Asian Review reported Monday.The crude, sourced from the Middle East, will be refined in Vietnam and supports both domestic fuel supply and plastic feedstock production used in Japan-bound exports, reportedly.The shipment equals roughly 10 days of Vietnam's crude consumption and is expected to help maintain operations at key refineries, including the Nghi Son complex in Thanh Hoa province, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Vietnamese Firms, South Korea Enter 73 Agreements for Cooperation

Vietnamese firms and South Korea signed 73 contracts in the technology, energy, and infrastructure niches on Thursday, Reuters reported the same day citing a list of the agreements.The move came after Vietnam and South Korea entered into 12 MoUs on Wednesday for mutual long-term cooperation during South Korean President Lee Jae Myung's visit to Hanoi.The non-binding agreements reportedly include a potential nuclear plant investment in southern Vietnam, as well as the development of LNG and wind power projects. The deals also cover MoUs for data center development in Vietnam, and cooperation in the semiconductor, rail, and unmanned submarine and surface vehicle niches, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Vietnam, South Korea Sign 12 MoUs to Boost Cooperation

Vietnamese President To Lam and South Korean President Lee Jae Myung have called for increased collaboration between the countries in summit talks in Hanoi on Wednesday, The Chosun Daily reported Thursday.The two countries entered 12 MoUs to boost cooperation in various niches, including nuclear power, electricity, and infrastructure. The aim is to boost the value of bilateral trade to $150 billion by 2030 from $94.6 billion in 2025, according to the report.The parties have initially agreed to financial cooperation for Vietnam's nuclear power plant construction project, the report stated.An agreement for the export of railway vehicles from South Korea for Ho Chi Minh City's urban railway is expected to be signed Thursday. Hyundai Rotem is also looking to enter a 5.1 trillion Korean won contract with Tac Group in Vietnam for the export of unmanned electric trains.South Korean companies may become part of a 1.1 trillion Korean won Southeast New City project and 100 billion Korean won-scale Jabin New Airport construction, according to The Chosun Daily.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Vietnam to Extend Fuel Import Waiver Until End-June

Vietnam is looking to extend its fuel import tariff waiver until the end of June to ease pressure on domestic industries, The Bangkok Post reported Monday, citing state media.The measure, first introduced in early March, is pending legal review and is expected to lower government revenue by about 2.02 trillion dong. Authorities are also considering a temporary removal of import duties on key fuel inputs such as naphtha, reformate and condensate, reportedly.In a separate move, the government plans to prolong reduced taxes on electric vehicles through 2030 to boost adoption.The proposal will be sent to parliament as Vietnam pushes to expand EV use and cut emissions, the news outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: World Bank Hints at Up to $100 Billion to Aid War-Impacted Economies

The World Bank could mobilize between $80 billion and $100 billion over the next 15 months to support countries impacted by the Middle East conflict, Reuters reported Wednesday, citing President Ajay Banga.The package, which exceeds the deployment during COVID-19, would include $20 billion to $25 billion in near-term support through a crisis response window, alongside $30 billion to $40 billion from reallocating existing programs within about six months. Additional resources could be tapped from the bank's balance sheet if the conflict persists, reportedly.IMF Managing Director Kristalina Georgieva said the outlook depends on how long the conflict continues, and urged governments to use targeted support instead of broad energy subsidies to manage higher costs, the news agency said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

IMF Lowers 2026 Growth Outlook for Most Asian Economies Amid Middle East War

The International Monetary Fund has lowered its growth estimates for most Asian economies for 2026, according to a recent release.The organization revised down its growth outlook for emerging Asian economies to 4.9% from a previous prospect of 5% in January, which was before the start of the conflict in the Middle East.Growth for the group will continue to decline to 4.8% in 2027, the IMF said.The organization projects China's economy growing 4.4% this year and 4% next year, while India will post growth of 6.5% for the next two years.Cumulative growth among Southeast Asia's five biggest economies, including Indonesia, Malaysia, the Philippines, Singapore, and Thailand, will fall to 3.7% in 2026 from 4.9%, although this will recover to 4.7% next year, the organization said.Individually, Vietnam will post the strongest growth of 7.1%, although this is still lower than the 8% growth last year.The rest of the economies in the group will also see lower growth, with Indonesia at 5%, Malaysia at 4.7%, the Philippines at 4.1%, and Thailand at 1.5%.Among advanced economies in Asia-Pacific, Korea's growth will rise to 1.9% from 1% last year, while that of Australia will remain flat at 2%.Japan's growth will slow down to 0.7% in 2026 and 0.6% in 2027 from 1.2% last year, according to the IMF.Taiwan will see lower expansion of 5.2% from 8.7% in 2025, while Singapore's growth will come to 3.5%, down from 5% last year.Hong Kong will also observe lower growth of 2.4%, compared to 3.5% in 2025.The IMF forecasts global economic growth to weaken to 3.1% this year from 3.4% last year, accounting for the impacts of the continued conflict in the Middle East.

ASX 200^BSE^DSE^HNX^HOSEHang Seng^JKSEFTSE Bursa Malaysia KLCI^KOSDAQKOSPINikkei 225Nifty 50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted^YSX
Asia

Sovereign Rating Risks Grow for Southeast Asia Amid Middle East Conflict, S&P Says

Southeast Asia's sovereign ratings face risks from the Middle East conflict, with persistent energy disruption to weigh on their fiscal and external metrics, S&P Global Ratings said in a Tuesday release.Economies reliant on imported energy could see strains in their robust growth outlook under severe long-term effects of the war, limiting economic support for ratings in South and Southeast Asia, credit analyst Rain Yin said.Damage to the energy infrastructure in the Middle East will prolong the normalization of oil and gas production levels even with the reopening of the Strait of Hormuz, S&P said.Southeast Asian sovereigns with weaker rating buffers could see their credit quality drop under persistent energy market disruption, with government subsidies for consumers and businesses possibly increasing, Yin said.The depth of the damage to sovereigns' fiscal positions will depend on the ability of governments to reduce expenses or delay spending plans, S&P said.

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Asia

Market Chatter: ASEAN Diplomats Plead US-Iran Truce as Surging Oil Prices Rattle Economies

Southeast Asian diplomats on Monday urged the U.S. and Iran to continue negotiations after failed weekend talks heightened tensions and rattled global markets, Nikkei Asian Review reported Monday.This came after Brent crude surged to $102.43 a barrel, while Asian and European equities fell following remarks from US President Donald Trump, including threats of a blockade of the Strait of Hormuz. Washington later put restrictions on vessels departing Iranian ports, reportedly.ASEAN foreign ministers, meeting virtually for the second time since March 13, welcomed a recent two-week ceasefire but stressed the need for sustained dialogue to achieve lasting peace. The bloc warned that instability is particularly damaging for Southeast Asia, which relies heavily on energy imports transiting the Strait of Hormuz.Countries including Malaysia, Vietnam and Thailand have been forced to ramp up energy support measures, while the Philippines has declared an energy emergency. ASEAN also discussed setting up a crisis communication mechanism and strengthening coordination on energy and food security ahead of upcoming regional meetings, the Nikkei said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

Middle East Escalation Could Cost Asia Up to $299 Billion, UNDP Warns

The ongoing military escalation in the Middle East could inflict economic losses of up to $299 billion across Asia and the Pacific, as higher fuel, freight and input costs ripple through regional economies, UNDP's latest assessment report release Tuesday showed.The report said the shock is weakening household purchasing power, increasing food insecurity, straining public budgets and undermining livelihoods, particularly in countries heavily reliant on imported energy and food, as well as those exposed to Gulf trade routes, labor markets and remittance flows.It estimated that under a 28-day disruption scenario, regional output losses could range between $97 billion and $299 billion, equivalent to 0.3% to 0.8% of GDP, with South Asia facing the most pronounced impact.Around 8.8 million people across 14 countries could fall into poverty, including more than 5 million in Iran, where the poverty rate may rise from 36% to 41.5%, according to the simulations.The report, prepared as of April 9, draws on inputs from 22 UNDP country offices covering 36 countries, alongside modelling and external data. It noted that outcomes will depend heavily on the duration and intensity of the conflict, with risks rising further if disruptions persist.

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Asia

Vietnam Approves Zero Fuel Taxes Through June

Vietnam's National Assembly approved a resolution to cut environmental protection, value-added and excise taxes on petrol, oil and aviation fuel to zero, state media, Vietnam News Agency reported Sunday.The measure covers petrol, diesel, kerosene, mazut and aviation fuel, while input VAT remains deductible for businesses.The resolution takes effect from April 16 to June 30, and allows the government to adjust its duration or provisions based on market conditions, subject to reporting to parliament, the report said.

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International

ADB Projects Developing Southeast Asia to Keep Steady Growth in 2026, 2027

Developing Southeast Asia is expected to maintain steady economic growth this year, supported by resilient domestic demand, according to the Asian Development Bank (ADB) report on Monday.The subregional economy is projected to expand by 4.7% in 2026 and by 4.8% in 2027, although growth trends will vary significantly across individual economies.Indonesia's growth outlook is expected to strengthen on solid domestic demand, while Myanmar is projected to rebound from contraction in 2025 as reconstruction activity supports recovery.In contrast, growth in Malaysia, Thailand and Vietnam is expected to moderate due to weaker global trade conditions and fading export momentum, although technology-related exports are likely to provide some support.Meanwhile, the Philippines is projected to remain subdued, Cambodia may see slower growth in 2026 before recovering in 2027 alongside tourism recovery, while Timor-Leste is expected to remain stable before accelerating.Inflation in developing Southeast Asia is forecast to rise to 3.2% in 2026 from 2.3% in 2025, driven by stronger domestic demand and higher food and energy costs. Price pressures are expected to increase across most economies, particularly in Indonesia, the Philippines, Malaysia, Thailand, and Vietnam, amid higher oil prices and domestic adjustments.Inflation is expected to ease to 2.8% in 2027 as global commodity prices stabilize, with Myanmar projected to see softer price pressures due to improved transport conditions, currency strength, and better agricultural output, the report showed.

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