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One rocket, two missions: lunar landers built by US and Japanese companies launched their “rideshare” to the Moon on Wednesday, showcasing the private sector’s growing role in space exploration.On board the SpaceX Falcon 9 rocket that took off from the Kennedy Space Center in Florida were Firefly Aerospace’s Blue Ghost and ispace’s Resilience from Japan, which will also deploy a micro rover.Both uncrewed missions aim to build on the success of Texas-based Intuitive Machines, which last year became the first company to successfully touch down on Earth’s celestial neighbor.Until recently, soft landings on the Moon were achieved only by a handful of well-funded national space agencies, starting with the Soviet Union in 1966.Now, however, several emerging US companies are attempting to replicate this feat under NASA’s experimental Commercial Lunar Payload Services program, designed to cut costs and stimulate a lunar economy.The US plans to establish a sustained human presence on the Moon later this decade under the Artemis program, leveraging commercial partners to deliver critical hardware at a fraction of the cost of government-led missions.”Each milestone we complete will provide valuable data for future missions and ultimately keep the United States and our international partners at the forefront of space exploration,” Firefly Aerospace CEO Jason Kim said Tuesday.”Firefly is a go for launch. Let’s go ghost riders in the sky!”- Staying upright -On the Japanese side, Tokyo-based ispace’s first attempt to land on the Moon ended in an unsalvageable “hard landing” in April 2023.”It’s important to challenge ourselves again, after enduring failure and learning from it,” ispace founder and CEO Takeshi Hakamada said last week.”Today, we’re going back to the Moon,” a post on the ispace X account said Wednesday, adding in a promotional video: “Today, we prove our resilience”.Blue Ghost is stacked atop Resilience inside the Falcon 9, SpaceX executive Julianna Scheiman said, and will be deployed first, followed by Resilience nearly 30 minutes later.The two spacecraft have different timelines for reaching the Moon.Blue Ghost aims to complete its journey in 45 days, gradually lifting its orbit around Earth before entering lunar orbit and touching down near Mons Latreille, a volcanic feature in Mare Crisium on the Moon’s northeast near side.”With 10 NASA instruments on this flight, we’re conducting scientific investigations… from characterizing Earth’s magnetosphere to understanding lunar dust and the Moon’s interior structure and thermal properties,” NASA scientist Maria Banks said.Blue Ghost also carries technology demonstrations focused on navigation and computing in the Moon’s harsh radiation environment.- ‘Moonhouse’ art -Meanwhile, Resilience will take four to five months to reach its destination in Mare Frigoris, on the Moon’s far north.Its payloads include scientific instruments, but the centerpiece is Tenacious, a micro rover developed by ispace-Europe, a Luxembourg-based subsidiary. The four-wheeled robot features a high-definition camera and will attempt to scoop up regolith — the Moon’s loose surface material.It also carries on its front a small red “Moonhouse” created by Swedish artist Mikael Genberg.These ambitious goals hinge on achieving a successful soft landing — a task fraught with challenges.Spacecraft must navigate treacherous boulders and craters and, in the absence of an atmosphere to support parachutes, rely entirely on thrusters for a controlled descent.A final hurdle, as recent missions have shown, is remaining upright.When Intuitive Machines’ Odysseus landed in April 2024, it tipped over, limiting the investigations it could perform.Similarly, Japan’s SLIM lander, which touched down in March 2024, landed at a wonky angle, leaving its solar panels poorly positioned, similarly curtailing its operational lifespan.

Record numbers of tourists flocked to Japan last year, figures showed Wednesday, as the weak yen bolstered the appeal of the “bucket list” destination despite overcrowding complaints in hotspots like Kyoto.The country logged more than 36.8 million tourist arrivals in 2024, topping 2019’s record of nearly 32 million, according to estimates from the Japan National Tourism Organization.It marks a return to a boom that began over a decade ago before being interrupted by the Covid-19 pandemic, with numbers up more than four-fold from 2012.That is partly thanks to government policies to promote attractions from Mount Fuji’s majestic slopes to shrines and sushi bars in more far-flung parts of the archipelago.Another factor is the cheap yen, which has plunged against other currencies over the past three years, making everything from a bowl of ramen to a handmade Japanese kitchen knife more affordable.Japan has long been a “bucket list” destination for many people, said Naomi Mano, president of hospitality and events company Luxurique.But it’s “prime time because at the moment it’s like Japan is on a 30 percent off sale”, Mano told AFP.- Double trouble? -The government has set an ambitious target of almost doubling tourist numbers to 60 million annually by 2030.Authorities say they want to spread sightseers more evenly around the country, and to avoid a bottleneck of visitors eager to snap spring cherry blossoms or vivid autumn colours.But as in other global tourist magnets like Venice in Italy, there has been growing pushback from residents in destinations such as the ancient capital of Kyoto.The tradition-steeped city, just a couple of hours from Tokyo on the bullet train, is famed for its kimono-clad geisha performers and increasingly crowded Buddhist temples.Locals have complained of disrespectful tourists harassing the geisha in a frenzy for photos, as well as causing traffic congestion and littering.In a bid to improve the situation — and cash in — Kyoto on Tuesday announced plans to hike lodging taxes “to realise ‘sustainable tourism’ with a high level of satisfaction for citizens, tourists and businesses”.”If there’s a burden on the infrastructure, I do think taxing tourists is a good idea” but Kyoto must find the “right balance”, Australian tourist Larry Cooke, 21, told AFP.- Capsule executives -Exasperated officials have also taken steps elsewhere, including introducing an entry fee and a daily cap on the number of hikers climbing Mount Fuji.Last year a barrier was briefly erected outside a convenience store to stop people standing in the road to photograph a view of the snow-capped volcano that had gone viral.Some Japanese companies say they can no longer afford hotels in Tokyo and other major cities, as the high demand from tourists pushes up prices.Several managers told AFP they are seeking cheaper alternatives, from Airbnb lets to Japan’s famously claustrophobic capsule hotels.IT company chief Yoshiki Kojima told AFP that he had chosen one with slightly more comfortable bed-sized pods that his employees had liked.”It’s clean, convenient and has a traditional shared bath house. My employees say it’s fun,” Kojima said.- Economy -The economic benefits are clear, however, with experts noting that tourism is now second only to vehicle exports in terms of earnings.Japan, population 124 million, still receives far fewer tourists than top destination France, which has a population of 68 million and welcomed 100 million visitors in 2023.So its overtourism woes are mainly because the influx “is centred around specific cities”, Luxurique’s Mano said.For example, the number of foreign visitors to Tokyo has doubled since 2019, and was up 1.5 times in Osaka.But Mano thinks the government can take steps to change this by promoting other parts of Japan and “making it easier to access — having more information available, being able to book activities in other rural areas.”

Asian markets swung Wednesday, continuing their yo-yo start to the year as traders assess the economic outlook with Donald Trump back in the White House, with focus now on the release of key US inflation data.A below-forecast read on wholesale prices provided a little relief and helped the Dow and S&P 500 end in the green, though sentiment remains clouded by a resignation to the idea that the Federal Reserve will not cut interest rates as much as hoped this year.Blockbuster employment figures on Friday, which followed a better-than-expected read on job openings, reinforced the view that the world’s top economy and labour market were still in rude health.That came after the central bank in December indicated in its so-called “dot plot” that it would likely only cut rates twice in 2025, compared with four previously flagged — taking the wind out the sails of a market rally at the end of the year.Investors will be poring over the consumer price index later Wednesday, with analysts warning that a strong reading could even stoke talk of a possible rate hike as the Fed’s next move.SWBC’s Christopher Brigati wrote in a commentary: “Even prior to the release of the dot plot in December, we’ve been cautious about the increasing possibility that the Fed would have to dial back further rate cuts in 2025, calling for no cuts during the year.”It appears that there is growing sentiment that the Fed will be less accommodating going forward. Furthermore, it is appearing increasingly likely that the Fed’s rate-cutting efforts beginning in September may have been premature, given more recent economic data.”After Wall Street’s broadly positive lead, Asian markets fluctuated.Tokyo, Sydney, Seoul, Wellington and Manila rose, while Hong Kong, Shanghai and Taipei fell.Also in focus this week is the release of Chinese 2024 growth data, with expectations that it could come in below the previous year and be among the slowest in more than three decades.Leaders have unveiled a string of measures to reignite the economy, with a particular emphasis on consumers and the troubled property sector, though there are fears the return of Trump could see another painful China-US trade war.The president-elect has already warned he will impose tariffs of as much as 60 percent on imports from the country, and observers say Beijing has likely kept its powder dry with regards stimulus as it prepares for the next four years.”China’s policy response will likely remain reactive but responsive in nature, to defend against any significant downside risks. The long-term economic transition to a more sustainable model of growth remains intact,” said Peiqian Liu, Asia economist at Fidelity International.”We expect more details on China’s strategic growth plans to be unveiled in its 15th Five Year Plan in 2025.”- Key figures around 0230 GMT -Tokyo – Nikkei 225: UP 0.4 percent at 38,628.61 (break)Hong Kong – Hang Seng Index: DOWN 0.2 percent at 19,178.20Shanghai – Composite: DOWN 0.2 percent at 3,234.90Euro/dollar: DOWN at $1.0300 from $1.0310 on TuesdayPound/dollar: DOWN at $1.2197 from $1.2211Dollar/yen: DOWN at 157.90 yen from 157.98 yenEuro/pound: UP at 84.44 pence from 84.40 penceWest Texas Intermediate: UP 0.2 percent at $77.63 per barrelBrent North Sea Crude: UP 0.1 percent at $79.99 per barrelNew York – Dow: UP 0.5 percent at 42,518.28 (close)London – FTSE 100: DOWN 0.3 percent at 8,201.54 (close)

China might not be able to rely on trade to steer it out of trouble as blistering tariffs being considered by US President-elect Donald Trump threaten an already struggling economy.Exports have historically represented a key engine in the world’s number two economy, where authorities will release 2024 growth data on Friday that is expected to be among the lowest in decades.Worse still, Trump’s return to the White House three days later could mean that Beijing won’t be able to rely on trade to drive activity in 2025.Exports “are likely to stay resilient in the near-term”, wrote Zichun Huang of Capital Economics, noting that a recent surge was due in part to US importers stockpiling Chinese goods ahead of expected tariff hikes.”But outbound shipments will weaken later this year if Trump follows through on his threat to impose 60 percent tariffs on all Chinese goods,” she said.China’s economy likely grew 4.9 percent last year, according to an AFP survey of experts, fractionally short of the government’s five percent target and down from 5.2 percent in 2023.The increase — already the lowest in decades, apart from the Covid-19 pandemic — was helped by a record-setting year for Chinese exports.Overseas shipments reached a historic high of nearly $3.5 trillion in 2024, up 7.1 percent year-on-year, according to official statistics published on Monday.Adjusted for inflation, China’s trade surplus last year “outstripped any global surplus seen in the past century, overshadowing even the historical export powerhouses like Germany, Japan or the United States post-World War II”, wrote Stephen Innes of SPI Asset Management in a note.The increase in China’s trade surplus has contributed five to six points to the growth of the country’s gross domestic product over the past three years, Francois Chimits of the Mercator Institute for China Studies told AFP.”The vitality of foreign trade has been one of the lifelines of the Chinese economy,” he said.- Policy support -That pillar of growth could come under attack in 2025, as the United States and European countries retaliate against what they call unfair competition resulting from China’s generous subsidies to its manufacturers.The European Union imposed additional customs duties in October on electric vehicles imported from China, citing distortionary trade practices by Beijing.And Trump promised during his recent US presidential campaign to slap even heftier tariffs on Chinese goods than those implemented in his first term.The specific trade imposts Trump intends to levy against China are not yet clear but the country’s export surge last year “will ignite further fury among US trade hawks”, Innes said.A potential 20 percent increase in US levies on Chinese goods would result in a 0.7-percentage-point hit to real GDP this year, according to a Goldman Sachs report.Beijing could allow the yuan to weaken in return, “pre-position” exports in third countries so that they can then be sent to the United States, or simply find new markets, Agatha Kratz of Rhodium Group told AFP.Some shifts are already palpable. China’s exports to Vietnam increased by nearly 18 percent last year, according to Chinese customs data, overtaking Japan to become its third-largest export destination.Domestically, Beijing is hoping to boost demand this year through a combination of fiscal and monetary policy easing and a scheme to spur consumption.The external pressure this year might necessitate even greater domestic policy support from Beijing, said Larry Hu, an economist at Macquarie Group.AFP’s survey of analysts warned that China’s growth rate could ease to just 4.4 percent this year and even drop below four percent in 2026.

China’s economic growth likely fell fractionally short of the government’s five percent target last year, according to an AFP survey, as leaders head into 2025 steeling for the second presidency of Donald Trump amid fears of another painful trade standoff.The reading would be the weakest the country has seen since 1990 — outside of the pandemic — as it struggles with weak domestic consumption and a protracted crisis in the once-booming property sector.The survey of economists by AFP estimated growth in the world’s number two economy hit 4.9 percent last year, down from the 5.2 percent recorded in 2023.They also warned it could ease to just 4.4 percent this year and even drop below four percent in 2026.The 2024 reading would be just shy of Beijing’s target of “around five percent” — reiterated by President Xi Jinping late last year — and likely “close enough for officials to claim success”, Harry Murphy Cruise from Moody’s Analytics told AFP.”But do not let that achievement fool you. Under the hood, the economy’s engine is struggling to get into gear,” he warned.However, Francois Chimits from the Mercator Institute for China Studies said the figure should be regarded with some scepticism as it is “often subject to strategic adjustments to reflect internal objectives”.China’s economy has so far failed to achieve a robust post-pandemic recovery as a prolonged real estate crisis spooks consumers and investors, while local governments grapple with soaring debt.Woes in the property sector are particularly concerning given the vital role it plays in fuelling growth, Chimits said.Friday’s report comes after data last week showed the country narrowly avoided slipping into deflation last month as consumers remain wary of pulling out their wallets.Beijing has recently unveiled some of the most aggressive measures in years aimed at boosting activity, including cuts to key interest rates, the easing of property purchase rules, hiking the debt ceiling for local governments and bolstering support for financial markets.- Trump 2.0 -Coupled with strong overseas demand for Chinese products — last year’s exports reached a historic high — the measures have contributed to a moderate rebound in the final quarter, experts told AFP.Without the measures, consumption would have been “much worse”, said Michelle Lam, an economist at Societe Generale.”Beijing has made some tweaks to support the buying of unsold properties by local governments,” Lam told AFP.”But the implementation has still been slow.”In one encouraging sign for the real estate sector, the total area of new residential property transactions in major cities increased 18 percent on-year in December, the finance ministry announced this month.Compounding the issues heading for Beijing is the return of Trump to the White House next week after he pledged during his campaign to impose tougher trade measures against China than those he unleashed during his first term.A hike in tariffs could batter Chinese exports — a key economic pillar made even more vital in the absence of vigorous domestic demand.A potential 20 percent increase in US levies on Chinese goods would result in a 0.7-percentage-point hit to real GDP this year, according to a Goldman Sachs report.In a move to shore up the economy in preparation for any possible headwinds, Beijing has announced a relaxation of fiscal policy in 2025 and a plan to boost consumption by subsidising the replacement of old household items.With exports facing greater uncertainty and the property sector stagnating, “officials need a new growth driver”, said Murphy Cruise.”Households could be that engine.”External pressure this year might necessitate even greater domestic policy support from Beijing, said Larry Hu, economist at Macquarie Group.That could represent a “paradigm shift, with domestic demand outpacing external demand” as it did in 2009-19, he wrote.Still, economists remain sceptical about the scale of upcoming stimulus measures, the details of which are unlikely to be revealed until China’s annual parliamentary session in March.”Officials will ramp up support, but it will not offset the pain of higher tariffs,” Murphy Cruise warned.

Stock markets moved in different directions Tuesday with traders’ attention fixed on President-elect Donald Trump’s tariff plans, earnings updates and inflation data.A report suggesting Trump could impose import tariffs more slowly than initially feared provided support and put a cap on the dollar’s latest surge.However, traders remain concerned that his pledges to cut taxes, regulations and immigration will revive inflation.Market watchers have slashed their expectations on how many times the Federal Reserve will cut interest rates through 2025 to one.But some fear the Fed’s next move could even be a rate hike owing to still-sticky inflation and concerns over Trump’s policies.Data on Tuesday showed US wholesale inflation for December was lower than expected, with no change in the Producer Price Index over the month when volatile food and energy prices are excluded. Wall Street’s three main indexes opened higher, but moved in a choppy fashion thereafter. The Dow and S&P 500 finished with modest gains, while the Nasdaq retreated.Investors will be paying more attention to US and UK consumer price inflation data due on Wednesday, while American bank earnings will also be in focus.Investors are especially keen to  hear the companies’ expectations for the incoming Trump administration in Washington. JPMorgan Chase and Goldman Sachs are among the companies reporting results.”There’s a lot of interest … in how they see the future,” Art Hogan of B. Riley Wealth Management said of expectations that Trump could ease bank regulation.In Europe, Frankfurt and Paris finished the day with gains but London slipped.In Asia, Hong Kong and Shanghai rallied as China’s securities regulator said it was looking at ways to provide more stability to markets.This followed another run of poor performances sparked by worries over the world-number-two economy and Trump’s threatened tariffs.The dollar traded mixed against major peers after Bloomberg reported that members of Trump’s team were looking at an initially limited increase in tariffs to boost their negotiating hand and tamper inflationary pressures.Oil prices pulled back following a series of gains.Among individual companies, Boeing fell 2.1 percent as the planemaker disclosed it had delivered just 348 commercial planes in 2024 following a labor strike and safety setbacks.Eli Lilly dropped 6.6 percent after it said 2024 revenues would be lower than previously thought.- Key figures around 2130 GMT -New York – Dow: UP 0.5 percent at 42,518.28 (close)New York – S&P: UP 0.1 percent at 5,842.91 (close)New York – Nasdaq Composite: DOWN 0.2 percent at 19,044.39 (close)London – FTSE 100: DOWN 0.3 percent at 8,201.54 (close)Paris – CAC 40: UP 0.2 percent at 7,423.67 (close)Frankfurt – DAX: UP 0.7 percent at 20,271.33 (close)Tokyo – Nikkei 225: DOWN 1.8 percent at 38,474.30 (close)Hong Kong – Hang Seng Index: UP 1.8 percent at 19,219.78 (close)Shanghai – Composite: UP 2.5 percent at 3,240.94 (close)Euro/dollar: UP at $1.0310 from $1.0245 on MondayPound/dollar: UP at $1.2211 from $1.2202Dollar/yen: UP at 157.98 yen from 157.48 yenEuro/pound: UP at 84.40 pence from 83.96 penceWest Texas Intermediate: DOWN 1.7 percent at $77.50 per barrelBrent North Sea Crude: DOWN 1.4 percent at $79.92 per barrelburs-jmb/des

Stock markets moved in different directions on Tuesday with traders’ attention fixed on President-elect Donald Trump’s tariff plans, earnings updates and inflation data.A report suggesting Trump could impose import tariffs more slowly than initially feared provided support and put a cap on the dollar’s latest surge.However, traders remain concerned that his pledges to cut taxes, regulations and immigration will revive inflation.Traders have slashed their expectations on how many times the Federal Reserve will cut interest rates through 2025 to one.But some fear the Fed’s next move could even be a rate hike owing to still-sticky inflation and concerns over Trump’s policies.Data on Tuesday showed US wholesale inflation for December was lower than expected, with no change in the Producer Price Index over the month when volatile food and energy prices are excluded. Wall Street’s three main indexes all opened higher, but failed to hold onto their early gains, with a rise in US bond yields dragging on sentiment.Investors will be paying more attention to US and UK consumer price inflation data due on Wednesday.”With rate expectations now the driving force behind market moves, key inflation data midweek will continue to shape the narrative for the early parts of 2025,” noted Matt Britzman, senior equity analyst at Hargreaves Lansdown.In Europe, Frankfurt and Paris finished the day with gains but London slipped.In Asia, Hong Kong and Shanghai rallied as China’s securities regulator said it was looking at ways to provide more stability to markets.This followed another run of poor performances sparked by worries over the world number two economy and Trump’s threatened tariffs.- Dollar mixed -The dollar traded mixed against major peers Tuesday after Bloomberg reported that members of Trump’s team were looking at an initially limited increase in tariffs to boost their negotiating hand and tamper inflationary pressures.Traders had been spooked when he said soon after his re-election that he would impose huge levies on China, Canada and Mexico as soon as he took office.The pound remained stuck close to lows not seen since the end of 2023. The euro was near its weakest since late 2022, with fears it could return to parity with the dollar.The yen edged up against the greenback as the yield of Japan’s 40-year government bond hit its highest since being launched in 2007, with debate returning to whether the country’s central bank will hike interest rates at next week’s policy meeting.Eyes were also on earnings. In London, shares in retailer JD Sports slumped 6.4 percent after it warned on profits. Energy giant BP shed 2.5 percent on a weak trading update, capping gains on the benchmark FTSE 100 index.On the upside, Paris was lifted by rising share prices of French banks. “This earnings season will set the tone for financial stocks in 2025, but the stakes are high,” said Charu Chanana, chief investment strategist at Saxo Markets.”Even with solid fourth-quarter results, the macro backdrop — characterised by lingering inflation concerns, steeper yields, and recalibrated Fed expectations — may weigh on sentiment.”- Key figures around 1630 GMT -New York – Dow: UP less than 0.1 percent at 42,335.87 pointsNew York – S&P: DOWN less than 0.1 percent at 5,834.16New York – Nasdaq Composite: DOWN less than 0.1 percent at 19,070.14London – FTSE 100: DOWN 0.3 percent at 8,201.54 (close)Paris – CAC 40: UP 0.2 percent at 7,423.67 (close)Frankfurt – DAX: UP 0.7 percent at 20,271.33 (close)Tokyo – Nikkei 225: DOWN 1.8 percent at 38,474.30 (close)Hong Kong – Hang Seng Index: UP 1.8 percent at 19,219.78 (close)Shanghai – Composite: UP 2.5 percent at 3,240.94 (close)Euro/dollar: UP at $1.0289 from $1.0224 on MondayPound/dollar: UP at $1.2195 from $1.2180Dollar/yen: UP at 158.05 yen from 157.65 yenEuro/pound: UP at 84.36 pence from 83.90 penceWest Texas Intermediate: DOWN 0.6 percent at $76.81 per barrelBrent North Sea Crude: DOWN 0.6 percent at $80.51 per barrelburs-rl/gv

The United States finalized a rule Tuesday effectively barring Chinese technology from cars in the American market, taking aim at software and hardware from the world’s second biggest economy over national security risks.The announcement, which also pertains to Russian technology, comes as outgoing President Joe Biden wraps up efforts to step up curbs on China, and after a months-long regulatory process.The rule follows an announcement this month that Washington is mulling new restrictions to address risks posed by drones with tech from adversaries like China and Russia.”Cars today aren’t just steel on wheels — they’re computers,” said Commerce Secretary Gina Raimondo.She noted that modern vehicles contain cameras, microphones, GPS tracking and other technologies connected to the internet.”This is a targeted approach to ensure we keep PRC and Russian-manufactured technologies off American roads,” she added, referring to the People’s Republic of China.The final rule currently applies just to passenger vehicles under 10,001 pounds, said the US Commerce Department.It plans, however, to issue separate rulemaking aimed at tech in commercial vehicles like trucks and buses “in the near future.”For now, Chinese electric vehicle manufacturer BYD, for example, has a facility in California producing buses and other vehicles.National Economic Advisor Lael Brainard added that “China is trying to dominate the future of the auto industry.”But she said connected vehicles containing software and hardware systems linked to foreign rivals could result in misuse of sensitive data or interference.- ‘Nexus’ to China -Under the latest rule, even if a passenger car were US-made, manufacturers with “a sufficient nexus” to China or Russia will not be allowed to sell such new vehicles incorporating hardware and software for external connectivity and autonomous driving.This prohibition on sales takes effect for model year 2027.The restriction also bans the import of the hardware and software if they are linked to Beijing or Moscow.The software curbs take effect for model year 2027 while the hardware controls come into play for model year 2030.Just a day earlier, Washington announced fresh export rules on chips used for AI, furthering efforts to make it hard for China and other rivals to access the technology.The restrictions also tightened rules surrounding the sharing of cutting-edge AI models.Washington has expanded efforts in recent years to curb exports of state-of-the-art chips to China, which can be used in AI and weapons systems, as Beijing’s tech advancements spark concern among US policymakers.But the rollout of many plans will fall to incoming President-elect Donald Trump, whose return to the White House early next week promises a raft of changes to government policies.On Monday, Biden urged the Trump administration not to cede AI dominance to China.”We must not offshore artificial intelligence, as we once did with computer chips and other critical technologies,” Biden said in an address at the State Department.”We are in the lead, and we must stay in the lead,” he added, saying it should be Washington and its closest allies at the frontier of this technology.US efforts to restrict Chinese tech come as American officials work to boost its domestic industries as well.On Tuesday, Biden issued an executive order to accelerate the pace at which infrastructure for artificial intelligence development can be built in the country.”We will not let America be out-built when it comes to the technology that will define the future,” said Biden in a statement.But the US actions could attract Beijing’s retaliation, with the Chinese Commerce Ministry already calling Monday’s AI-related export curbs “a flagrant violation” of international trade rules.”China will take necessary measures to firmly safeguard its legitimate rights and interests,” the ministry said.

Stock markets mostly rose Tuesday with traders’ attention fixed on President-elect Donald Trump’s tariff plans, earnings updates and upcoming inflation data.A report suggesting Trump could slowly hike import tariffs provided support and put a cap on the dollar’s latest surge.However, traders remain concerned that his pledges to cut taxes, regulations and immigration continue to dampen sentiment with warnings that the measures will revive inflation.Traders have slashed their expectations on how many times the Federal Reserve will cut interest rates through 2025 to one.But some fear the Fed’s next move could even be a rate hike owing to still-sticky inflation and concerns over Trump’s policies.Data on Tuesday showed US wholesale inflation for December was lower than expected, with no change in the Producer Price Index over the month when volatile food and energy prices are excluded. Wall Street’s three main indexes all opened higher.Investors will be paying more attention to US and UK consumer price inflation data due on Wednesday.”With rate expectations now the driving force behind market moves, key inflation data midweek will continue to shape the narrative for the early parts of 2025,” noted Matt Britzman, senior equity analyst at Hargreaves Lansdown.European stock markets were mostly higher in afternoon trading.In Asia, Hong Kong and Shanghai rallied as China’s securities regulator said it was looking at ways to provide more stability to markets.This followed another run of poor performances sparked by worries over the world number two economy and Trump’s threatened tariffs.- Dollar mixed -The dollar traded mixed against major peers Tuesday after Bloomberg reported that members of Trump’s team were looking at a gradual increase in tariffs to boost their negotiating hand and tamper inflationary pressures.Traders were spooked when he said soon after his re-election that he would impose huge levies on China, Canada and Mexico as soon as he took office.The pound remained stuck close to levels not seen since the end of 2023. The euro was near its weakest since late 2022, with fears it could return to parity with the dollar.The yen edged up against the greenback as the yield of Japan’s 40-year government bond hit its highest since being launched in 2007, with debate returning to whether the country’s central bank will hike interest rates at next week’s policy meeting.Eyes were also on earnings. In London, shares in retailer JD Sports slumped 7.3 percent after it warned on profits. Energy giant BP shed 2.1 percent on a weak trading update, capping gains on the benchmark FTSE 100 index.On the upside, Paris was lifted by rising share prices of French banks. “This earnings season will set the tone for financial stocks in 2025, but the stakes are high,” said Charu Chanana, chief investment strategist at Saxo Markets.”Even with solid fourth-quarter results, the macro backdrop — characterised by lingering inflation concerns, steeper yields, and recalibrated Fed expectations — may weigh on sentiment.”- Key figures around 1430 GMT -New York – Dow: UP 0.4 percent at 42,473.55 pointsNew York – S&P: UP 0.5 percent at 5,863.70New York – Nasdaq Composite: UP 0.7 percent at 19,212.80London – FTSE 100: UP less than 0.1 percent at 8,218.15Paris – CAC 40: UP 0.7 percent at 7,463.15Frankfurt – DAX: UP 0.8 percent at 20,297.87Tokyo – Nikkei 225: DOWN 1.8 percent at 38,474.30 (close)Hong Kong – Hang Seng Index: UP 1.8 percent at 19,219.78 (close)Shanghai – Composite: UP 2.5 percent at 3,240.94 (close)Euro/dollar: UP at $1.0267 from $1.0224 on MondayPound/dollar: DOWN at $1.2158 from $1.2180Dollar/yen: UP at 157.79 yen from 157.65 yenEuro/pound: UP at 84.44 pence from 83.90 penceWest Texas Intermediate: DOWN 0.7 percent at $76.78 per barrelBrent North Sea Crude: DOWN 0.7 percent at $80.42 per barrelburs-rl/lth

Russia and Vietnam signed an agreement on nuclear energy on Tuesday during a visit by Prime Minister Mikhail Mishustin aimed at deepening ties between the two long-standing allies.Vietnam wants to restart nuclear power plans to meet its rapidly expanding energy needs and is hoping that Russia can help.No details about the agreement were immediately available but Vietnam’s science and technology ministry said on Tuesday Alexey Likhachiov, general director of Russia’s nuclear giant Rosatom, was “very interested” in cooperating with Vietnam on the Ninh Thuan nuclear power project.The project — which involves two plants in central Ninh Thuan province with a combined capacity of 4,000 megawatts — was originally to be developed with assistance from Rosatom and the Japanese consortium JINED before plans were scrapped in 2016.Likhachiov was in Hanoi on Monday to meet Vietnamese Prime Minister Pham Minh Chinh, their third meeting in six months.  The nuclear deal was among seven signed in a range of fields that also included digital technology and electronics.The trip comes half a year after President Vladimir Putin travelled to Hanoi, where Vietnam’s then-president To Lam indicated a desire to boost defence cooperation with Moscow.Putin told reporters during the visit, which came as Western powers stepped up sanctions aimed at constraining Russia’s war in Ukraine, that both sides had “identical or very close” positions on key international issues.The two nations have been close allies since the days of the Cold War.Mishustin met his counterpart Chinh and Lam, now Communist Party general secretary and the country’s top leader, on Tuesday.Russia has been Vietnam’s main arms supplier for decades, accounting for more than 80 percent of imports between 1995 and 2023, but orders have dropped off in recent years as international sanctions related to the Ukraine conflict have intensified.