Daily Buzz: 14 October 2025

A 'New Dawn,' Amid the Euphoria, Uncertain Times Ahead

Hamas handed over the remaining 20 living Israeli hostages, Israel released 250 Palestinian prisoners and 1,700 Gaza detainees, world leaders signed a Gaza ceasefire deal at a summit in Egypt, aid trucks began rolling back into Gaza, and US President Donald Trump hailed a new dawn in the Middle East. October 13 was, by all accounts, a day for the history books. What happens next, after what Trump called the "long, painful nightmare," will determine whether the momentum toward permanent peace endures. Trump's 20-point peace plan, without details, calls for a transitional international body to take over governance of Gaza and for the territory, which lies in ruins after two years of Israeli bombardment, to be rebuilt. Israel's commitment to the ceasefire is predicated on Hamas disarming, which remains unresolved. And the ultimate goal of many – a Palestinian state alongside Israel – remains as elusive as ever.

Trump to Meet Zelensky, Hints Again at Tomahawk Deliveries

Ukrainian President Volodymyr Zelensky is scheduled to meet President Donald Trump at the White House on Friday, as Trump again hinted that he is considering sending Tomahawk long-range missiles to Kiev if Russia doesn't show willingness to talk peace. The missiles have a range of 2,500 kilometers, which would put them within striking distance of Moscow. The Kremlin earlier said such a move would be regarded as a serious escalation of tensions with the West.

Madagascar President Flees as Public Protests Rachet Up

Madagascar President Andry Rajoelina fled the country after units of the army defected to join widespread youth-led demonstrations protesting government corruption and shortages of water and power, Reuters reported. Rajoelina seized power in a 2009 coup. About three-quarters of Madagascar's 30 million people live in poverty.

Pakistan, Afghanistan Fighters Clash at Border

Clashes at the border between Pakistan and Afghanistan killed dozens of fighters from both nations in the most serious skirmishes since the Taliban returned to power in 2021. Pakistan has accused Afghanistan of providing havens for Pakistani militants, which the Taliban denies.

Top Business

Markets Rise as US Tariff Threat Viewed as Negotiating Bluff

Global investors generally dismissed a spat between China and the US as negotiation posturing, with stocks in Europe and the US rebounding from Friday losses. President Donald Trump roiled markets at the end of last week with the announcement of new 100 percent tariffs on China, drawing a stark rebuke from a defiant Beijing. Trump appeared to backpedal a bit, posting online: "Don't worry about China; it will all be fine." The Nasdaq rose 2.2 percent, and the Stoxx600 in Europe gained 0.4 percent. Although stock markets in Asia fell in tandem with Friday's losses on Wall Street, they generally ended off session lows. The benchmark Shanghai Composite Index performed best, closing the day with only a 0.2 decline. Cryptocurrencies staged a comeback from a Friday nosedive. Gold and silver rose to record highs, indicating residual economic jitters.

Apple to Begin Pre-Orders for iPhone Air

Apple Chief Executive Tim Cook on a Monday visit to Shanghai told a Douyin livestream event that the new iPhone Air will begin pre-orders in China on October 17. Following government approval, China Mobile on Monday announced that subscriber reservations for the e-sim card required to activate iPhone Air began. While in the city, Cook also visited the 10th anniversary exhibition of Pop Mart's Labubu collectible toys.

Apple reported that third-quarter sales of iPhone on the Chinese mainland rose 4 percent from a year earlier, largely on government subsidies on purchases of upgraded electronics and on a strong sales start for the new iPhone 16. However, the US company still faces stiff competition from domestic Chinese mobile phone companies. Vivo on Monday launched its new X300 series phones, with rivals Honor and Oppo scheduled for launches later this week.

China Denounces Dutch Freeze on Wingtech Control of Nexperia

China denounced the Dutch government's decision to seize control of Nexperia, a semiconductor maker owned by China's Wingtech Technology, calling it a politically motivated overreach. China opposes the "broad use of national security" as an excuse to discriminate against Chinese companies and politicize trade, Foreign Ministry spokesman Lin Jian told a press briefing on Monday. The Netherlands froze Jiaxing-based Wingtech's control over Nexperia, citing possible transfer of critical technologies to the parent. Wingtech shares fell 10 percent on Monday in Shanghai.

China Cuts Gasoline, Diesel Prices

China will lower retail gasoline and diesel prices on Tuesday to align fuel prices with declines in global crude prices, the country's top economic planner said on Monday. Under the new adjustment, gasoline and diesel prices at the pump will fall by the equivalent of 0.06 yuan per liter. Filling a 50-liter tank of 92-octane gasoline will cost about 3 yuan (42 US cents) less.

Economy & Markets

China Exports Surge as Companies Find Buyers Outside of US

China's exports in September jumped 8.3 percent, their fastest pace in six months, and imports posted their strongest gain in 17 months, China's customs reported. Exports to the US, once China's biggest market, fell 27 percent amid existing tariffs of at least 30 percent on Chinese imports. Xu Tianchen, economist at the Economist Intelligence Unit in Beijing, told Reuters that the US now accounts for less than 10 percent of Chinese exports.

Amid trade tensions with the US, companies in China have been successful in efforts to diversify markets, finding new buyers in Southeast Asia, South America, the Middle East and Africa. Shipments to Southeast Asia and Latin America were up about 15 percent in September, with exports to Africa surging 56 percent.

Chinese Car Sales Rise 6.6 Percent, BYD Retains Top Market Position

Chinese domestic car sales in September rose 6.6 percent from a year earlier amid government trade-in subsidies, the debut of new models and cheaper prices. Sales accelerated from a 4.9 percent increase in August, according to the China Passenger Car Association. The September figures showed sales of electric and hybrid cars rose 15.5 percent, comprising 57 percent of all sales. Auto exports rose 21 percent. Despite the sales growth, inventories of vehicles rose to 3 million in September from 2.6 million in August, Reuters reported.

In a breakdown of September data, electric carmaker BYD logged a decline in domestic sales but retained its top spot in its industry with a 14 percent market share. Rivals Leapmotor, Xpeng and Xiaomi posted record sales in the latest month. Tesla's sales on the Chinese mainland fell 0.9 percent from year earlier, though strong exports lifted overall deliveries 2.8 percent.

Manufacturing Activity Index Hovers Just Below Expansion

China's official index of manufacturing activity came in at 49.8 in September, rising from 49.4 in August. The Bureau of Statistics survey of supply chain managers across the manufacturing sector remained just below the 50 threshold that separates expansion from contraction, showing some residual weakness in demand.

Economic Outlook Softens but Remains Positive

Confidence in China's economic outlook softened in October but remained positive in the Yicai Global monthly survey of 16 China-based chief economists. The index came in at 50.3, down from 50.6 in September but above the 50 threshold separating positive from negative. The economists are forecasting mild growth in the fourth quarter, with 4.8 percent growth for the year.

Researchers Win Nobel Prize for Economics

Three economists – Israeli-American Joel Mokyr, Frenchman Philippe Aghion and American Peter Howitt -- won the 2025 Nobel economics prize for their work on how technology gives rise to new products and production methods, resulting in a better standard of living. In awarding the price, the Nobel committee said, "Economic stagnation, not growth, has been the norm for most of human history. Their work shows that we must be aware of, and counteract, threats to continued growth."

Corporate

Sany Heavy Eyes Hong Kong Listing

Sany Heavy Industry, the world's third-largest heavy equipment manufacturer, is testing investor sentiment for an initial public offering in Hong Kong that could seek to raise as much as US$1.5 billion, Bloomberg reported. It would be the largest IPO there this year of a company not already listed elsewhere. Sany Heavy would allocate funds raised toward expanding its global sales and services network. Overseas revenue in the first half rose 12 percent from a year earlier, accounting for 30 percent of sales. The company posted a 46 percent surge in first-half profit from a year earlier to 5.2 billion yuan (US$724 million).

MGI Signs Licensing Agreement with Swiss Biogen Company

Shenzhen-based MGI Tech signed an agreement with Swiss Rockets for exclusive patent rights to its gene-sequencing equipment for US$120 million. The Basel-based company does research and development in cancer and infectious diseases.

OpenAI Signs Deal with Broadcom

OpenAI, in its latest deal to excite investors, said it is partnering with Broadcom to produce its first in-house artificial intelligence processors. Broadcom shares rose more than 9.9 percent in New York trading. The deal, which calls for the roll out of 10 gigawatts of custom chips, is the latest in a series of OpenAI investments aimed at addressing surging demand for computing power.

Xiaomi Crash Video Spurs Plunge in Share Price

Chinese electric carmaker Xiaomi suffered a 5.7 percent drop in his Hong Kong shares following reports that the doors on one of its electric SU7 sedans failed to open during a fiery crash in the southwestern city of Chengdu, killing one person. Video of the crash showed bystanders who rushed to the scene couldn't open the doors to rescue an occupant. Police said the driver of one of the cars involved was under the influence of alcohol. Concerns about computer-controlled doors not opening on smart cars involved in crashes have been raised in the past.

Xpeng 'Flying Car' Conducts Manned Flight in Dubai

Xpeng AeroHT, the "flying car" arm of electric carmaker Xpeng, conducted the first manned flight of its flight Land Aircraft Carrier in Dubai. The company said it has 600 orders for the flying car in the Middle East, where it will launch its first commercial products by 2027.