Market Focus Daily: Monday, June 9, 2025
Asian markets rally ahead of latest China-US trade talks; Japan confirms GDP contraction, backing Bank of Japan's cautious stance; CapitaLand Investment expands fund with Japan asset acquisition at 30 billion yen.
Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day's market movements and news from Singapore and the region.
Written and hosted by: Emily Liu (emilyliu@sph.com.sg)
Produced and edited by: Chai Pei Chieh & Claressa Monteiro
Produced by: BT Podcasts, The Business Times, SPH Media
---
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
Follow BT Market Focus and rate us on:
Channel: bt.sg/btmktfocus
Amazon: bt.sg/mfam
Apple Podcasts: bt.sg/mfap
Spotify: bt.sg/mfsp
YouTube Music: bt.sg/mfyt
Website: bt.sg/mktfocus
Feedback to: btpodcasts@sph.com.sg
Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice.
Discover more BT podcast series:
BT Money Hacks at: bt.sg/btmoneyhacks
BT Correspondents: bt.sg/btcobt
BT Podcasts: bt.sg/pcOM
BT Branded Podcasts: bt.sg/btbrpod
BT Lens On: bt.sg/btlenson
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
42 minutes ago
- Straits Times
China's vice-president visits Spain as mutual courtship blossoms
MADRID - China's Vice-President Han Zheng arrived in Spain on June 10 for a four-day trip during which he will meet with King Felipe and Prime Minister Pedro Sanchez, a further sign of increasingly close economic and political ties. Mr Han's visit is taking place two months after Mr Sanchez visited Beijing for the third time in as many years. There, he sought to woo China's President Xi Jinping as global trade reels from US President Donald Trump's tariffs policy. The Socialist premier has been vying to position Madrid as an interlocutor between China and the European Union, as well as to attract more Chinese investment in advanced technology such as batteries, electric vehicles and hydrogen. In 2024, auto maker Stellantis and Chinese battery maker CATL announced plans to build one of Europe's largest EV battery factories in Spain. However, not all is idyllic in Spain's relations with China. Beijing's anti-dumping inquiry into EU pork launched in 2024 in retaliation for Brussels' tariffs on Chinese EVs hit Spain, a top exporter, hard. Mr Sanchez's last visit to China, however, clinched expanded access for Spanish exports of pork stomach - a product widely consumed in China but not previously authorised. Mr Han will meet Mr Sanchez on the morning of June 11 in Madrid, Mr Sanchez's office said, while King Felipe will receive the Chinese official on June 12, according to the royal household's agenda. The Spanish monarch is also scheduled to visit China later this year to commemorate the signing of a strategic partnership 20 years ago. After his meetings with Mr Sanchez and Spain's King, Mr Han is set to travel to Seville to meet Andalusia's regional leader, Mr Juan Manuel Moreno, who in 2024 secured over €2.5 billion (S$3.6 billion) of Chinese investments in the southern Spanish region. According to projections by tourism lobby Turespana, the number of visitors to Spain from China is expected to surge by 36 per cent this summer compared to 2024, making Spain the European destination with the biggest growth in tourists from the Asian nation. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
an hour ago
- Straits Times
French Senate adopts Bill to regulate fast fashion, targeting China's Shein
PARIS - The French Senate on June 10 adopted a Bill to regulate the fast fashion industry by sanctioning companies and banning advertisements. The Bill is targeted at Chinese-founded e-commerce giant Shein, which has a reputation for selling lower quality clothes at a very low price. Easy to order and to replace, fast fashion items are exported to France on a large scale, causing pollution and saturating markets. The Bill, which had been adopted by the lower house, the National Assembly, in March 2024, was passed by the Senate on the afternoon of June 10, with 337 votes for and only one against. The vote is not the final legislative hurdle: a joint committee of senators and lower house deputies is expected to meet from September to produce a joint text, prior to the final adoption of the law. Before final adoption, the European Commission also has to be notified, to ensure the Bill complies with EU law. The Bill 'is a major step in the fight against the economic and environmental impact of fast fashion, and a strong signal sent to businesses and to consumers,' said the minister for ecological transition, Ms Agnes Pannier-Runacher, after the vote's results were announced. The text plans to 'reduce the environmental impact of the textile industry', said Ms Anne-Cecile Violland, the centre-right member of parliament who proposed the Bill. Fast fashion is a growing market in France, and between 2010 and 2023 the value of advertised products in the sector grew from €2.3 billion (S$3.3 billion) to €3.2 billion. Around 48 clothing items per person are released into the French market each year, and 35 are thrown away every second in the country, according to the state environmental agency Ademe. 'Triple threat' Ms Pannier-Runacher has called fast fashion a 'triple threat' that promoted overconsumption, caused ecological damage and threatened French clothing businesses. The Senate, dominated by the right, modified the Bill to target 'ultra' fast fashion companies, such as Asian websites Shein or Temu. The Senate's amendments plan to leave out French and European brands that may be affected by the Bill, such as Zara, H&M and Kiabi. The fashion giants will still be obliged to notify their customers about the environmental impact of their products, according to the new Bill. 'I have no intention of making French brands that contribute to our country's economic vitality pay a single euro,' said rapporteur Sylvie Valente Le Hir, member of the right-wing The Republicans party. The Bill will impose stricter sanctions on fast fashion companies by scoring their 'environmental communication'. This 'eco-score' will affect all fast fashion companies, Ms Pannier-Runacher said. Those with the lowest scores will be taxed by the government up to €5 per product in 2025 and up to €10 by 2030. This tax cannot go beyond 50 per cent of the price of the original product. Ad ban The Bill would impose sanctions on influencers who promote such products and ban fast fashion advertisements. The regulation of the fast fashion industry will only succeed with a 'collective effort', and not by targeting 'a single actor,' Shein spokesperson Quentin Ruffat told RTL radio on June 9. According to Ruffat, the law would 'impact the purchasing power' of French people. On June 9, France's Textiles Industry Union called the Bill as 'a first step' and hoped for its 'rapid adoption... even if the text does not entirely fit our expectations'. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
2 hours ago
- Straits Times
China's vice president visits Spain as mutual courtship blossoms
FILE PHOTO: Chinese Vice President Han Zheng attends a plenary session of the Eastern Economic Forum in Vladivostok, Russia September 5, 2024. Kirill Kazachkov/Roscongress Foundation via REUTERS/File Photo MADRID - China's Vice President Han Zheng arrived in Spain on Tuesday for a four-day trip during which he will meet with King Felipe and Prime Minister Pedro Sanchez, a further sign of increasingly close economic and political ties. Han's visit is taking place two months after Sanchez visited Beijing for the third time in as many years. There, he sought to woo China's President Xi Jinping as global trade reels from U.S. President Donald Trump's tariffs policy. The Socialist premier has been vying to position Madrid as an interlocutor between China and the European Union, as well as to attract more Chinese investment in advanced technology such as batteries, electric vehicles and hydrogen. Last year, auto maker Stellantis and Chinese battery maker CATL announced plans to build one of Europe's largest EV battery factories in Spain. However, not all is idyllic in Spain's relations with China. Beijing's anti-dumping inquiry into EU pork launched last year in retaliation for Brussels' tariffs on Chinese EVs hit Spain, a top exporter, hard. Sanchez's last visit to China, however, clinched expanded access for Spanish exports of pork stomach - a product widely consumed in China but not previously authorised. Han will meet with Sanchez on Wednesday morning in Madrid, Sanchez's office said, while King Felipe will receive the Chinese official on Thursday, according to the royal household's agenda. The Spanish monarch is also scheduled to visit China later this year to commemorate the signing of a strategic partnership 20 years ago. After his meetings with Sanchez and Spain's king, Han is set to travel to Seville to meet Andalusia's regional leader, Juan Manuel Moreno, who last year secured over 2.5 billion euros ($2.86 billion) of Chinese investments in the southern Spanish region. According to projections by tourism lobby Turespana, the number of visitors to Spain from China is expected to surge by 36% this summer compared to last year, making Spain the European destination with the biggest growth in tourists from the Asian nation. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
