Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 11 October.

Vietnam Q3 economy grows 7.4% despite heavy typhoon losses
By Nurluqman Suratman 07-Oct-24 14:16 SINGAPORE (ICIS)–Vietnam’s economy expanded by 7.4% year on year in the third quarter despite hefty losses from Typhoon Yagi, with growth marking its strongest in two years on robust exports.

PODCAST: UAE base oils may see higher Q4 imports; US Group II offers keenly awaited
By Damini Dabholkar 07-Oct-24 14:29 SINGAPORE (ICIS)–The base oils market in UAE is likely to see an uptick in demand in the fourth quarter, with the impact of escalating tensions in the region on crude prices and Group I supply from Iran closely monitored in the weeks ahead.

Asia MMA import trade to stay subdued amid weak buyer confidence
By Jasmine Khoo 09-Oct-24 13:18 SINGAPORE (ICIS)–The methyl methacrylate (MMA) spot trade in Asia is likely to stay curtailed in the near term.

China ethanolamines dull post holidays while SE Asia and India struggle
By Clive Ong 10-Oct-24 15:13 SINGAPORE (ICIS)–The ethanolamines market in China remained slow after the country’s Golden Week holidays. Demand remained tepid while domestic prices held steady.

S Korea’s Hyundai Motor seeks to raise $3.3 billion from India IPO
By Nurluqman Suratman 10-Oct-24 16:40 SINGAPORE (ICIS)–Hyundai Motor’s subsidiary in India is seeking to raise up to won (W) 4.4 trillion ($3.3 billion) through an initial public offering (IPO) on 15 October.

China Sept petrochemicals weaken; Oct demand pick-up unlikely
By Yvonne Shi 11-Oct-24 12:25 SINGAPORE (ICIS)–Falling costs of crude oil and weaker-than-expected seasonal end-demand caused China’s domestic petrochemical markets to weaken in September, with players expecting the current supply-demand imbalance to persist for the rest of the year.

S Korea central bank cuts key interest rate to 3.25% amid slowing inflation
By Jonathan Yee 11-Oct-24 17:33 SINGAPORE (ICIS)–South Korea’s central bank on Friday lowered its benchmark interest rate by 25 basis points to 3.25% after holding rates for nearly two years, seeking to revitalize the economy amid moderating inflation.