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A plunge in automakers hit Asia equities Thursday after Donald Trump announced painful tariffs on all imported vehicles and parts as he presses hardball trade policies many fear will spark a recession.Indications that levies lined up for the president’s “Liberation Day” on April 2 would be less severe than feared had given investors a little hope, and helped markets chalk up much-needed gains.However, the White House’s habit of alternating between tough talk and leniency has fanned uncertainty, and the latest announcement did little to soothe nerves.”What we’re going to be doing is a 25 percent tariff on all cars that are not made in the United States,” he said as he signed an order in the Oval Office.The move takes effect at 12:01 am eastern time (0400 GMT) on April 3 and impacts foreign-made cars and light trucks. Key automobile parts will also be hit within the month.About half of the cars sold in the United States are made within the country. Of the imported motors, about half come from Mexico and Canada, with Japan, South Korea and Germany also major suppliers.Japan’s government called the tariffs “extremely regrettable” while Canadian Prime Minister Mark Carney called it a “direct attack” on his country’s workers.There was little comfort in Trump’s comments that reciprocal measures lined up for next week could be “very lenient”.The auto news hammered carmakers in Asia.In Tokyo, Toyota and Honda shed more than three percent while Nissan was off 2.5 percent. Seoul-listed Hyundai gave up more than four percent.US-listed car giants also tumbled with General Motors, Ford and Stellantis all deep in the red in after-hours trade.”It’s a stark reminder: Trump’s not bluffing — or at least he’s doing a damn good job pretending he’s not,” said SPI Asset Management’s Stephen Innes. “And if he goes full throttle with this round of tariffs — especially the reciprocal measures slated for April 2 — markets are staring down the barrel of the worst-case macro cocktail: faster inflation, slower growth and a fresh wave of volatility.The retreat in the auto sector hit broader markets, which were already shaky owing to worries over Trump’s trade agenda.Tokyo and Seoul almost one percent, with Sydney, Wellington, Taipei and Manila also down.However, Hong Kong and Shanghai eked out gains with SingaporeThere was a little cheer after Trump told reporters at the White House that he might offer to reduce tariffs on China to get Beijing’s approval for the sale of popular social media platform TikTok.Earlier this month, Trump said Washington was in talks with four groups interested in buying TikTok, which has been in limbo after a US law ordered it to divest from its Chinese owner ByteDance or be banned in the country owing to national security concerns.The broadly negative day followed losses on all three of Wall Street’s main indexes ahead of the president’s announcement, with the CBOE Volatility Index — or “fear gauge” — jumping almost seven percent.Market jitters were compounded by data Tuesday showing consumer sentiment had fallen to its lowest level since 2021 as concerns about higher prices increase.- Key figures around 0230 GMT -Tokyo – Nikkei 225: UP 0.9 percent at 37,674.03 (break)Hong Kong – Hang Seng Index: UP 0.6 percent at 23,624.74Shanghai – Composite: UP 0.2 percent at 3,374.63Euro/dollar: UP at $1.0766 from $1.0757 on WednesdayPound/dollar: UP at $1.2900 from $1.2891Dollar/yen: DOWN at 150.11 yen from 150.54 yenEuro/pound: UP at 83.46 pence from 83.41 penceWest Texas Intermediate: UP 0.1 percent at $69.72 per barrelBrent North Sea Crude: UP 0.1 percent at $73.85 per barrelNew York – Dow: DOWN 0.3 percent at 42,454.79 (close)London – FTSE 100: UP 0.3 percent at 8,689.59 (close) 

Global stock markets mostly slipped Wednesday as investors readied for an announcement on auto tariffs from US President Donald Trump. In New York, all three major indices closed lower, while the CBOE Volatility Index — Wall Street’s so-called “fear gauge” — jumped seven percent, reflecting market jitters.”It’s the continuation of worries regarding the tariffs and the impact on the economy,” Peter Cardillo from Spartan Capital Securities told AFP.In Europe, Paris and Frankfurt closed down while London edged up as data showed an unexpected slowdown to UK annual inflation.- Incoming auto tariffs -With the White House’s so-called “Liberation Day” on April 2 fast approaching, investors are bracing for a wave of sweeping levies on imports amid warnings of crippled global trade, a fresh spike in inflation, and even a possible recession. Trump has alternated between tough talk about imposing tariffs across the board to suggesting he may allow some carve-outs to spare US consumers the full brunt of their impact on prices.The result has been a drop in economic sentiment as consumers expect higher prices. “All the tariff talk uncertainty has led to a sharp drop in confidence,” said Trade Nation analyst David Morrison.On Wednesday, White House Press Secretary Karoline Leavitt said that Trump would unveil new tariffs on the auto industry at 4:00 pm local time in Washington (2000 GMT), setting off a sell-off in the stocks of several firms, including General Motors and Tesla.Trump’s tariff plans have hit consumer sentiment hard, with the Conference Board reporting Tuesday that its closely-watched gauge of consumer confidence dived to its lowest level since 2021 as concerns grow about higher prices.”Recent survey data has painted a gloomy outlook for the US economy,” Morrison said. “But this pessimism has yet to show up in hard data, such as unemployment, while corporate earnings continue to beat expectations.”- Defense stocks rise -While most European markets fell, defense stocks bucked the trend, as one country after another has pledged to boost military spending, with Spain and Sweden being the latest to do so Wednesday.France’s Thales, Germany’s Rheinmetall and Italy’s Leonardo all rose. London’s stock market closed up on the news that Britain’s annual consumer inflation slowed to 2.8 percent in February from 3.0 percent a month earlier.The market held onto its gains even after the British government’s financial watchdog halved the country’s growth forecast for 2025, while raising it for the next three years.Trump’s talk of tariff exemptions had earlier helped some Asian markets edge higher after recent slumps. Copper futures traded on New York’s Comex exchange touched a record high after Trump said he could impose duties on imports of the commodity within weeks, leading some investors to shift supply to the United States to avoid any eventual levies.- Key figures around 2020 GMT -New York – Dow: DOWN 0.3 percent at 42,454.79 points (close)New York – S&P 500: DOWN 1.1 percent at 5,712.20 (close)New York – Nasdaq Composite: DOWN 2.0 percent at 17,899.02 (close)London – FTSE 100: UP 0.3 percent at 8,689.59 (close) Paris – CAC 40: DOWN 1.0 percent at 8,030.68 (close)Frankfurt – DAX: DOWN 1.2 percent at 22,839.03 (close) Tokyo – Nikkei 225: UP 0.7 percent at 38,027.29 (close)Hong Kong – Hang Seng Index: UP 0.6 percent at 23,483.32 (close)Shanghai – Composite: DOWN less than 0.1 percent at 3,368.70 (close)Euro/dollar: DOWN at 1.0757 from $1.0790 on TuesdayPound/dollar: DOWN at $1.2891 from $1.2943Dollar/yen: UP at 150.54 yen from 149.90 yenEuro/pound: UP at 83.41 pence from 83.37 penceBrent North Sea Crude: UP 1.1 percent at $73.79 per barrelWest Texas Intermediate: UP 0.9 percent at $69.65 per barreldan-ajb-ni-da/jgc

Tesla, the Elon Musk-run auto company, has had a turbulent time recently, fueled by its chief executive’s close ties to Donald Trump and increased electric vehicle competition.The mounting issues have sent the company’s share price tumbling in recent weeks. Here are some of the biggest challenges it faces: – Pole position under threat -Gone are the days when Tesla was far and away the world leader in electric vehicle sales.China’s BYD is now snapping at Tesla’s heels, selling 1.76 million vehicles in 2024 — up 12 percent year-on-year — to Tesla’s 1.79 million, a one percent decline.Including hybrid vehicles, BYD’s revenues actually exceeded the US auto maker’s last year, $107.2 billion to $97.7 billion.To make matters worse, Musk’s leading role in the Trump administration — and vocal support for far-right politics in Europe — appears to be hampering Tesla’s bottom line.The company’s registrations fell 49 percent year-on-year in January and February in the European Union.Tesla has “moderated” its initial forecast of a 20-to-30 percent sales increase in 2025, according to CFRA Research analyst Garrett Nelson. “We’re looking at a 5 percent decline but it could be much more than that,” he told AFP.- Potholes -In the United States, France, and Germany, Tesla stores, charging stations and vehicles have been vandalized in recent weeks.Protests have also been called in which participants have criticized the world’s richest person for his heavy hand in US and international politics. In New York, one recent sign asserted that “Tesla finances fascism” and called for a boycott of its cars.And in Germany, where an arson attack in March 2024 halted production at Tesla’s plant in Germany, Musk has come under heavy criticism for his support of the far-right Alternative for Germany (AfD) party in the parliamentary elections.”The biggest concern now is regarding the brand value,” said Nelson from CFRA. “Picking a side, Republican or Democrat, can really do a lot of damage,” he added, pointing to the way Tesla’s stock had fallen “dramatically,” losing around a third of its value since the start of the year.Tesla is also suffering because the range of vehicles it has for sale has remained largely unchanged since the Model Y was released in 2020.”Lack of innovation, lack of new models,” Nelson said, adding this was a “big reason why Tesla has lost market share in China to BYD.”The Cybertruck was the only new model to be released recently, but its sales had been “very disappointing,” he said. The pickup truck, which was plagued by delays, was finally released at the end of 2023, but has since suffered a series of recalls. The latest, on March 20, concerned all 46,096 Cybertrucks currently in circulation, whose body panels were in danger of coming unstuck.Tesla’s long-promised low-cost model still seems to be a long way off. – Escape routes -The brand’s salvation could come from its full self-driving (FSD) feature, where it has a “major advantage” that represents a “huge market opportunity,” with a global market estimated at $5 trillion, Nelson said.He thinks Tesla is in a stronger position than Google’s Waymo, whose robotaxis have operated in several US cities since 2010.However, the company’s much-trailed Cybercab competitor is still several months away from starting road trials in Austin, Texas.The Trump administration is preparing a “new” federal regulatory framework for fully autonomous driving, Nelson said, adding it has also begun to reduce support for the energy transition, which should benefit Tesla given its comparative advantage in the United States.In his view, Tesla and Musk both enjoy the unwavering loyalty of shareholders, but to reassure them, some sort of senior executive should be appointed to take care of the day-to-day running of the company from Musk.”He is spending most of his time in Washington, D.C., right now,” Nelson said.”He is less focused on the day to day of what’s happening operationally at such a critical time in Tesla’s history.”

Global stock markets mostly slipped Wednesday as investors digested conflicting signals from President Donald Trump about his coming wave of tariffs.In New York, the Dow was little changed but the wider S&P 500 and the tech-heavy Nasdaq were lower in midday deals. In Europe, Paris and Frankfurt closed down while London edged up as data showed an unexpected slowdown to UK annual inflation.With the White House’s so-called “Liberation Day” on April 2 fast approaching, investors are bracing for a wave of sweeping levies on imports amid warnings of crippled global trade, recession and a fresh spike in inflation.But Trump has alternated between tough talk about imposing tariffs across the board to suggesting he may allow some carve-outs to spare US consumers the full brunt of their impact on prices.The result has been a drop in economic sentiment as consumers expect higher prices. “All the tariff talk uncertainty has led to a sharp drop in confidence,” said David Morrison, analyst at Trade Nation. The president told Newsmax on Tuesday that he did not “want to have too many exceptions” but added: “I’ll probably be more lenient than reciprocal, because if I was reciprocal, that would be very tough for people.”The Conference Board reported Tuesday that its closely watched gauge of consumer confidence dived to its lowest level since 2021 — during the Covid pandemic — as concerns grow over higher prices.”Recent survey data has painted a gloomy outlook for the US economy. But this pessimism has yet to show up in hard data, such as unemployment, while corporate earnings continue to beat expectations,” Morrison said.The figures come as the Federal Reserve re-evaluates its monetary policy in light of Trump’s tariffs agenda, with some analysts warning it might have to hold off any interest rate cuts this year.The next major clue on its outlook comes Friday with the release of a key inflation indicator.While almost all European markets fell, defence stocks bucked the trend as one country after another pledges to boost military spending, with Spain and Sweden being the latest to do so Wednesday.France’s Thales, Germany’s Rheinmetall and Italy’s Leonardo were all sharply higher.London’s stock market rose after news that the country’s annual consumer inflation slowed to 2.8 percent in February from 3.0 percent in January.The market held onto its gains even after finance minister Rachel Reeves cut the country’s growth forecast in half to one percent as she announced spending cuts, as she raised the outlook for the subsequent three years.”She appears to have done the trick of not unnerving investors further,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.  Trump’s talk of tariff exemptions had earlier helped some Asian markets edge higher after recent slumps. Copper futures traded on New York’s Comex exchange touched a record high after Trump said he could impose duties on imports of the commodity within weeks, leading some investors to shift supply to the United States to avoid any eventual levies.- Key figures around 1700 GMT -New York – Dow: DOWN 0.1 percent at 42,543.75 points New York – S&P 500: DOWN 0.9 percent at 5,726.12 New York – Nasdaq Composite: DOWN 1.7 percent at 17,964 London – FTSE 100: UP 0.3 percent at 8,689.59 (close) Paris – CAC 40: DOWN 1.0 percent at 8,030.68 (close)Frankfurt – DAX: DOWN 1.2 percent at 22,839.03 (close) Tokyo – Nikkei 225: UP 0.7 percent at 38,027.29 (close)Hong Kong – Hang Seng Index: UP 0.6 percent at 23,483.32 (close)Shanghai – Composite: FLAT at 3,368.70 (close)Euro/dollar: UNCHANGED from Tuesday at $1.0790 Pound/dollar: DOWN at $1.2897 from $1.2943Dollar/yen: UP at 150.54 yen from 149.90 yenEuro/pound: UP at 83.67 pence from 83.37 penceBrent North Sea Crude: UP 1.2 percent at $73.88 per barrelWest Texas Intermediate: UP 1.3 percent at $69.87 per barrel

Teach giant Apple announced on Wednesday the iPhone 16 will be available in Indonesia from next month, indicating the sales ban in Southeast Asia’s biggest economy had been lifted.The government in October prohibited the marketing and sale of the model over the US tech titan’s failure to meet regulation requiring 40 percent of phones be made from local parts. However, Apple struck a deal with the Indonesian government last month to invest in the country of 280 million after months of deadlock. “Today, Apple announces that all iPhone 16 series… will be available starting from Friday, April 11,” the company said in a statement.The industry ministry did not respond to AFP’s request for comment.The ministry said this month it had approved local certificates for more than a dozen Apple products. Last week, The Ministry of Communication and Digital Affairs said Apple has also obtained a certificate needed for all telecommunication devices with transmission. Jakarta rejected a $100 million investment proposal from Apple in November, saying it lacked the “fairness” required by the government. Apple later agreed to invest $150 million in building two facilities — one in Bandung in West Java province to produce accessories, and another in Batam for AirTags. Industry Minister Agus Gumiwang Kartasasmita said last month that Apple had also committed to building a semiconductor research and development centre in Indonesia, calling it a “first of its kind in Asia”. Despite the ban on iPhone sales in Indonesia, the government had allowed the devices to be brought in if they were not being traded commercially. Indonesia has also banned the sale of Google Pixel phones for failing to meet the 40 percent local parts requirement.

Global stock markets diverged Wednesday as investors remained cautious following conflicting signals from President Donald Trump about his coming wave of tariffs.New York’s main indexes opened mixed while shares in Paris and Frankfurt dropped.London edged up as data showed an unexpected slowdown to UK annual inflation.With the White House’s “Liberation Day” on April 2 fast approaching, investors are bracing for a wave of sweeping levies on imports amid warnings of crippled global trade, recession and a fresh spike in inflation.But Trump has alternated between tough talk about imposing tariffs across the board to suggesting he may allow some carve-outs to spare US consumers the full brunt of their impact on prices.”All the tariff talk uncertainty has led to a sharp drop in confidence,” said David Morrison, analyst at Trade Nation. “Recent survey data has painted a gloomy outlook for the US economy. But this pessimism has yet to show up in hard data, such as unemployment, while corporate earnings continue to beat expectations,” Morrison added.The president told Newsmax on Tuesday that he did not “want to have too many exceptions” but added: “I’ll probably be more lenient than reciprocal, because if I was reciprocal, that would be very tough for people.”The Conference Board reported Tuesday that its closely watched gauge of consumer confidence dived to its lowest level since 2021 — during the Covid pandemic — as concerns grow over higher prices.The figures come as the Federal Reserve re-evaluates its monetary policy in light of Trump’s tariffs agenda, with some analysts warning it might have to hold off any interest rate cuts this year.Wall Street’s Dow index was up in morning trading, the wider S&P 500 was unchanged, and the tech-heavy Nasdaq was down slightly.While almost all European markets were lower in mid-afternoon trading on the tariff uncertainty, defence stocks bucked the trend as one country after another pledges to boost military spending, with Spain and Sweden being the latest to do so Wednesday.France’s Dassault Aviation and Thales, Germany’s Rheinmetall, and Italy’s Leonardo were all sharply higher.London’s stock market rose after news that the country’s annual consumer inflation slowed to 2.8 percent in February from 3.0 percent in January.While that was a boost to finance minister Rachel Reeves, prices later gave up some of their gains after the country’s growth forecast was cut in half to one percent as she announced spending cuts. Trump’s talk of tariff exemptions had earlier helped some Asian markets edge higher after recent slumps. Copper futures traded on New York’s Comex exchange touched a record high after Trump said he could impose duties on imports of the commodity within weeks, leading some investors to shift supply to the US to avoid any eventual levies.- Key figures around 1340 GMT -New York – Dow: UP 0.4 percent at 42,753.15 points New York – S&P 500: FLAT at 5,778.45 New York – Nasdaq Composite: DOWN 0.2 percent at 18,230.40 London – FTSE 100: UP 0.2 percent at 8,683.18 Paris – CAC 40: DOWN 0.8 percent at 8,046.20Frankfurt – DAX: DOWN 0.7 percent at 22,939.11 Tokyo – Nikkei 225: UP 0.7 percent at 38,027.29 (close)Hong Kong – Hang Seng Index: UP 0.6 percent at 23,483.32 (close)Shanghai – Composite: FLAT at 3,368.70 (close)Euro/dollar: DOWN at $1.0772 from $1.0791 on TuesdayPound/dollar: DOWN at $1.2875 from $1.2943Dollar/yen: UP at 150.45 yen from 149.90 yenEuro/pound: UP at 83.65 pence from 83.37 penceBrent North Sea Crude: UP 1.0 percent at $73.77 per barrelWest Texas Intermediate: UP 1.0 percent at $69.72 per barrel

Chinese drinks company Mixue Group, which has surpassed McDonald’s and Starbucks in store count to become the world’s largest food and beverage chain, reported a spike in profits on Wednesday as it laid out further expansion plans.The results came after Mixue raised $444 million in a bumper Hong Kong listing, with the stock jumping more than 40 percent on its March 3 debut and trading at around double its offer price this week.The firm — known for beverages usually priced around $1 — had 41,584 stores in China and another 4,895 spread across 11 countries as of the end of last year, Mixue said in an exchange filing on Wednesday.Revenue increased 22 percent to $3.4 billion in 2024, which the company attributed mostly to “increased revenue generated from sales of goods and equipment, and to a lesser extent, from franchise and related services”.Profit for the year jumped 40 percent to $613 million.Mixue, whose name translates to “honey snow ice city”, was founded by two brothers in the Chinese hinterland province of Henan in 1997 as a shaved ice shop.The Zhengzhou-headquartered firm quickly expanded across China and became a hit with frugal young consumers, disrupting a sector once dominated by premium brands.Mixue stores — recognisable by their bright red signs and smiling snowman mascot — became ubiquitous in lower-income Chinese cities, offering freshly made fruit drinks, tea drinks, ice cream and coffee.Nearly 60 percent of Mixue stores in China are in cities categorised by the company as “third-tier or below”.Mixue says it relies on a franchise model to grow its brick-and-mortar network, but “franchise and related service fees are not our primary sources of revenue”.Instead, it makes most of its money from supplying food materials, equipment and packaging needed to run its stores.The company said Wednesday that it will “continue to elevate the breadth and depth of our supply chain” in China, while remaining “focused on cultivating the Southeast Asia market”.

Brazil’s President Luiz Inacio Lula da Silva said Wednesday that he expects talks between South America’s Mercosur bloc and Japan on a trade deal to begin in the second half of the year.”I expect to launch negotiations for an agreement with Japan during Brazil’s presidency of Mercosur the next semester,” Lula told reporters in a joint news conference with Japanese Prime Minister Shigeru Ishiba in Tokyo.Earlier Lula portrayed such an agreement as a way for the two economies to boost trade in the face of growing protectionism under US President Donald Trump.”Our countries have more to gain from integration than from protectionist practices,” he said at an economic forum attended by business and political figures from Brazil and Japan.”We cannot go back to relying on protectionism. We do not want a second Cold War,” Lula said.”We want free trade so that we can ensure that democracy, economic growth and wealth distribution become established in our countries,” he added.Four Mercosur members — Argentina, Brazil, Paraguay and Uruguay — in December struck a free-trade deal with the European Union although it still faces hurdles before final approval.Business groups in Japan, the world’s fourth-largest economy, have been pressing the government also to strike an agreement with the South American bloc.The Keidanren business federation “urgently” called in November for “expedited efforts” towards a deal calling the potential benefits “immense”.But an agreement may be politically hard because of fears about the impact on Japanese farmers of large-scale agricultural imports, particularly from Brazil and Argentina.Ishiba told the joint news conference that Japan and Brazil would “soon” set up a Japan-Mercosur strategic partnership.”We agreed that… we will promote discussions with a view to deepening our trade relationships under that framework,” Ishiba said.”As the international community’s division deepens, our cooperation with Brazil — our partner to lead the global society into harmony — is essential,” he said.Lula, 79, arrived in Japan on Monday accompanied by a 100-strong business delegation. On Tuesday he was given a full state dinner with the Japanese emperor.Lula and Ishiba, 68, were also expected to discuss the joint development of biofuels ahead of November’s COP30 UN climate summit in the Brazilian Amazon.”By taking advantage of our mutual strengths — Brazil’s biofuel and Japan’s high-quality mobility — we agreed that we will lead decarbonisation efforts in the world’s auto industry,” Ishiba said.”The recent decision to increase the use of biofuels in transport and aviation in Japan opens up space to work together on the energy transition,” said Lula.”Decarbonisation is a path of no return and is perfectly compatible with the objective of energy security.”kh-mas-tmo-stu/rsc

Lingering hopes that Donald Trump’s planned tariff blitz next week will not be as painful as feared lifted most Asian markets Wednesday, though uncertainty about the president’s policies and the US economy tempered optimism.With the White House’s “Liberation Day” on April 2 approaching, investors have been bracing for a wave of sweeping levies on imports amid warnings of crippled global trade, recession and a fresh spike in inflation.But suggestions from Trump and others in Washington that the measures could be more targeted, with some countries hit harder than others, have provided a sliver of hope that the worst-case scenario can be avoided.The president told Newsmax that “I don’t want to have too many exceptions” but added: “I’ll probably be more lenient than reciprocal, because if I was reciprocal, that would be very tough for people”.Signs of a less severe approach helped Wall Street record two successive days of gains, paring hefty losses suffered in recent weeks fuelled by fears that the hardball US policies would hit companies’ bottom lines.Hong Kong battled to edge higher a day after tanking more than two percent on profit-taking and selling in the tech sector, while Tokyo, Sydney, Seoul, Singapore, Bangkok, Manila and Wellington also advanced.Jakarta jumped more than three percent after a hefty sell-off this year fuelled by worries over the Indonesian economy. However, the country’s rupiah remained stuck around its lowest levels since the Asian financial crisis at the end of the last century.London, Paris and Frankfurt rose at the open.Shanghai was flat while Taipei and Mumbai edged down. Copper futures traded on New York’s Comex exchange touched a record high after Trump said he could impose duties on imports of the commodity within weeks.While there is some hope over tariffs, Americans’ fears about the economic outlook indicated the United States could be in for a bumpy ride.The Conference Board’s closely watched gauge of consumer confidence dived to its lowest level since 2021 — during the pandemic — as concerns grow over higher prices.Meanwhile, another reading on expectations for the next six months hit a 12-year low.The figures come as the Federal Reserve re-evaluates its monetary policy in light of Trump’s tariffs agenda, with some analysts warning it might have to hold off any interest rate cuts this year.At the end of a volatile first quarter, Charu Chanana, chief investment strategist at Saxo, said it had “challenged conventional thinking”.”While rate cut hopes dominated headlines early in the year, markets moved on quickly as economic resilience, sector rotation, geopolitical shifts, and regional divergences took centre stage,” she wrote in a commentary.”Trade policy returned to focus as the US election narrative picked up. Even without concrete tariffs, the potential for disruption hit sentiment across global sectors.”There was little major reaction to news that Russia and Ukraine had agreed to halt military strikes in the Black Sea and on energy sites following talks brokered by Washington.The Kremlin said the deal could come into force only after the lifting of restrictions on its agriculture sector.- Key figures around 0815 GMT -Tokyo – Nikkei 225: UP 0.7 percent at 38,027.29 (close)Hong Kong – Hang Seng Index: UP 0.6 percent at 23,483.32 (close)Shanghai – Composite: FLAT at 3,368.70 (close)London – FTSE 100: UP 0.3 percent at 8,691.37Euro/dollar: DOWN at $1.0789 from $1.0791 on TuesdayPound/dollar: DOWN at $1.2908 from $1.2943Dollar/yen: UP at 150.36 yen from 149.90 yenEuro/pound: UP at 83.58 pence from 83.37 penceWest Texas Intermediate: UP 0.2 percent at $69.16 per barrelBrent North Sea Crude: UP 0.2 percent at $73.16 per barrelNew York – Dow: FLAT at 42,587.50 (close)

The United States added dozens of entities to a trade blacklist Tuesday, its Commerce Department said, in part to disrupt Beijing’s artificial intelligence and advanced computing capabilities.The action affects 80 entities from countries including China, the United Arab Emirates and Iran, with the department citing their “activities contrary to US national security and foreign policy.”Those added to the “entity list” are restricted from obtaining US items and technologies without government authorization.”We will not allow adversaries to exploit American technology to bolster their own militaries and threaten American lives,” said US Commerce Secretary Howard Lutnick.The entities targeted include 11 based in China and one in Taiwan, accused of engaging in the development of advanced AI, supercomputers and high-performance AI chips for China-based users “with close ties to the country’s military-industrial complex.”They include the Beijing Academy of Artificial Intelligence and subsidiaries of IT giant Inspur Group.Others were included for “contributions to unsafeguarded nuclear activities” or ballistic missile programs.The aim is to prevent US technologies and goods from being misused for activities like high performance computing, hypersonic missiles and military aircraft training, said Under Secretary of Commerce for Industry and Security Jeffrey Kessler.Two entities in Iran and China were also added to the list for seeking to procure US items for Iran’s defense industry and drone programs, the Commerce Department said.Beijing condemned the blacklisting of its firms, accusing Washington of “weaponizing” trade and technology in a “typical act of hegemonism”.”We urge the US side to stop generalizing the concept of national security… and stop abusing all kinds of sanctions lists to unreasonably suppress Chinese enterprises,” foreign ministry spokesman Guo Jiakun said at a daily news conference.China would take “necessary measures” to defend its firms’ rights, Guo added.Several of the blacklisted companies did not respond to AFP’s request for comment on Wednesday.