The landmark Taipei 101 building and city skyline seen from the Elephant Mountain Observation Deck in Taipei City on April 14, 2025. (Photo: I-Hwa Cheng/AFP) (Photo: I-Hwa CHENG/AFP via Getty Images)
Chen Yihua | AFP | Getty Images
Hello, my name is Justina Lee from Singapore. Welcome to another edition of CNBC’s Daily Open.
Taiwan has agreed to buy 30% of the gas supplied by a proposed liquefied natural gas project in Alaska, according to US President Donald Trump.
The latest economic data to be released from Asia on Wednesday will provide clues about the region’s growth prospects, as Chinese producer prices rise at the fastest pace in more than four years.
Meanwhile, in Europe, the UK is scheduled to host Ukrainian President Volodymyr Zelenskiy.
What you need to know today
US President Donald Trump said at the rally that Taiwan has agreed to buy 30% of the gas supplied by a proposed liquefied natural gas project in Alaska, adding that the deal “guarantees success.”
President Trump has increased pressure on South Korea to join the project, threatening to impose additional fees and double charges if the South Korean government does not sign quickly first. South Korean media speculated that President Trump may have mentioned raising tariffs.
Zelenskiy meets with British Prime Minister
British Prime Minister Andy Burnham is set to receive Ukrainian President Volodymyr Zelenskiy as European leaders rally to show support for the country. Zelensky will reportedly meet with EU leaders on Friday, the second day of the European Council summit.
Mr Burnham is expected to tell Mr Zelenskiy that he has asked ministers to develop a fiscal policy to provide further sanctions, military aid and emergency aid in the coming weeks.
This comes after Russia launched an attack on Ukraine’s energy infrastructure overnight, leaving at least 600,000 people without power in the Kiev and Kharkov regions.
ASML results
ASML, a leader in the global chip industry, announced its third quarter financial results on Wednesday. The Dutch semiconductor equipment maker said some of its customers are interested in ordering its key semiconductor tools for 2029 and 2030 as demand for AI remains strong.
The comments will come as comfort to investors who were trying to assess the long-term demand outlook for ASML’s lithography equipment.
Asian economic data
Traders on Wednesday continued to scrutinize the latest economic data coming out of Asia for clues about the region’s economic outlook.
China’s producer prices rose at the fastest pace in more than four years in September as higher fuel prices raised costs for businesses.
Data released from Singapore on Wednesday showed GDP growth slowed to 5.4% in the third quarter after hitting a four-year high in the previous quarter. The decline in the city-state’s manufacturing sector contributed to the economic slowdown, but this was offset by an expansion in the construction industry.
The Philippines is bracing for a “godzilla” El Niño phenomenon that could worsen the effects of a lingering oil crisis as the country’s central bank tries to rein in inflation from a three-year high.
Meanwhile, South Korean carmaker Hyundai Motors has revealed that it plans to make a “strategic” investment of $15.5 billion in the country by 2032. The company said India is a strategic core market for its emerging market growth and expansion plans.
Rising crude oil prices weigh on sentiment
In oil markets on Wednesday, Brent and WTI prices rose amid concerns about supply disruptions as tensions in the Middle East continue to escalate between the Iran-backed Houthis and Saudi Arabia.
