Nikkei ends marginally lower
Japanese markets gave up early gains to end on a flat note ahead of a fifth round of ministerial-level talks in the U.S. to be held this week. The Nikkei average finished marginally lower at 37,446.81 while the broader Topix index settled 0.22 percent lower at 2,771.11. A firmer yen weighed on the auto sector, with Honda and Mitsubishi Motors falling around 1 percent each. Chip-related stocks followed their U.S. peers higher, with Nvidia supplier Advantest climbing 2.6 percent and Screen Holdings adding 1.4 percent.Powered by Capital Market - Live News
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Business Standard
an hour ago
- Business Standard
Suzuki halts Swift production in Japan as China curbs rare earth exports
Japanese automaker Suzuki Motor has suspended production of most of its Swift compact car models at its domestic plants due to a shortage of parts linked to China's rare earth export restrictions, business daily Nikkei Asia reported on Thursday. This marks the first direct hit to a Japanese automaker from Beijing's curbs, and analysts warn that wider disruptions could follow. The halt, which excludes the Swift Sport model, began on May 26 and is set to continue until June 6. While Suzuki did not officially cite the reason, the latest report suggests the move is linked to delays in parts procurement caused by slow Chinese export licence approvals. China, which accounted for around 70 per cent of the world's rare earth metal production in 2023 and about 90 per cent of rare earth magnet manufacturing, has slowed the issuance of export licences since imposing new controls in April. These measures came in response to US President Donald Trump's reciprocal tariffs on Chinese goods. The disruption has shed light on the vulnerability of global car production to China's dominance in rare earth elements, which are essential for electric and hybrid vehicle motors, among other high-tech uses. Ford, BMW, Mercedes also face rare earth-linked delays The issue is not isolated to Japan. Ford temporarily shut down its Chicago assembly line for the Explorer SUV in late May, and European parts suppliers are also beginning to shut operations, according to CLEPA, the European Association of Automotive Suppliers. Mercedes-Benz is in 'constant dialogue' with suppliers and is considering stockpiling key components, said Jörg Burzer, head of production. 'Physical buffers play a role,' he added, speaking from a factory in Rastatt, Germany. Meanwhile, BMW has acknowledged that some of its supply chains are already being affected. The company is actively monitoring risks and coordinating with vendors to prevent major fallout. Though automakers like Mercedes and BMW don't source rare earth metals directly, their Tier-1 suppliers use them in electric motors and hybrid systems, exposing them to the broader supply shock. India to send auto industry delegation to China Industry experts in India have warned authorities of the sharply declining availability of rare earth magnets. They cautioned that unless imports from China resume swiftly, production at several electric and ICE vehicle factories could come to a halt. India is set to send a high-level industry delegation to China next week, including representatives from the Society of Indian Automobile Manufacturers (Siam) and the Automotive Component Manufacturers Association of India (Acma). The delegation will hold talks with Chinese officials to fast-track approvals for rare earth mineral shipments, which are critical to the country's automotive industry. What rare earth minerals do in EVs and traditional cars Rare earth minerals play a vital role in modern cars, particularly in electric vehicles (EVs), where they are used to make compact, high-performance permanent magnets for electric motors. These magnets, made with elements like neodymium, dysprosium, and terbium, enable motors that are smaller, lighter, and more efficient than alternatives, crucial for improving EV range and performance. Rare earths are also found in ICE components like catalytic converters and in various systems across both EVs and traditional cars, from sensors to display screens. Japan to propose US cooperation on rare earth supply chains Amid growing concern, Japan is preparing to propose enhanced cooperation with the US on rare earth supply chains, especially in light of China's export curbs. The proposal is expected to be tabled in upcoming tariff negotiations.
Time of India
an hour ago
- Time of India
NTT buys Mumbai land, IT park from Bollywood actor Jeetendra's firms for Rs 855 cr
Japanese multinational information technology infrastructure and services major NTT Data 's subsidiary NTT Global Data Centers & Cloud Infrastructure India has acquired two land parcels spread over nearly 2.4 acres along with an IT park in Mumbai's western suburb Andheri for Rs 855 crore. The Tokyo-headquartered company's India arm has bought the land and the IT park from Bollywood actor Jeetendra Kapoor and his family-owned firms Pantheon Buildcon and Tusshar Infra Developers. The site comprising two contiguous land parcels currently houses Balaji IT Park, and includes three constructed buildings with a cumulative built-up area of over 4.90 lakh sq ft. The transaction registered on May 29 has attracted stamp duty charges of Rs 8.69 crore, showed documents reviewed by Square Yards on the Inspector General of Registration and Controller of Stamps, Maharashtra. As of early 2025, NTT operated 18 data centers across key cities including Mumbai, Delhi NCR, Chennai, Bengaluru, and Kolkata. NTT Data recently announced a series of strategic initiatives reinforcing its continued commitment to the Indian market. Among these, the company announced the commissioning of its Malaysia, India, Singapore Transit (MIST) submarine cable system by June. NTT Global Data Centers & Cloud Infrastructure India specializes in a range of services including public and private cloud solutions, hosting, data management, application development, threat monitoring, content delivery networks, and testing services and serves customers globally. India's data center industry is witnessing rapid expansion, driven by the country's accelerating digital transformation and growing reliance on cloud computing, artificial intelligence, and data-intensive technologies. The growth is being supported by rising demand from sectors such as banking, e-commerce, telecommunications, and government services. Key cities like Mumbai, Chennai, Bengaluru, and Hyderabad are emerging as major data center hubs due to their robust connectivity infrastructure and access to skilled talent. The sector is also benefiting from proactive policy support, improvements in power availability, and increased interest from global and domestic investors. As a result, India is steadily establishing itself as a critical destination in the global digital infrastructure landscape.
Time of India
2 hours ago
- Time of India
Japan futures extend declines as firm supply, China auto price war weighs
Japanese rubber futures fell for a sixth straight session on Wednesday as seasonal harvesting boosted supply prospects, while concerns over an intensifying price war in China 's automobile market weighed on sentiment for the tyre-making material. The Osaka Exchange ( OSE ) rubber contract for November delivery was down 0.9 yen, or 0.31%, at 286.1 yen ($1.99) per kg as of 0209 GMT. The natural rubber-producing areas in China and Vietnam have begun harvesting, and the output of raw materials has increased significantly, said Chinese financial information site Tonghuashun Information . Rubber crops usually undergo a season of low production from February to May, followed by a peak harvesting period that lasts until September. Meanwhile, leading automakers have launched a price war that has further suppressed tyre demand, added Tonghuashun. In China, an intensifying auto industry price war has stoked fears of a long-anticipated shake-out in the world's largest car market. Moreover, alarm over China's stranglehold on critical minerals grew on Tuesday as global automakers complained that restrictions by China on exports of rare earth alloys, mixtures, and magnets could cause production delays and outages. On the trade front, the White House signalled that President Donald Trump and Chinese President Xi Jinping might engage in talks later this week, after the two sides accused each other of violating the terms of an agreement reached last month to roll back some tariffs. The front-month rubber contract on Singapore Exchange's SICOM platform for June delivery last traded at 158.6 U.S. cents per kg, down 0.1%.
