Daily Buzz: 10 October 2025

China Tightens Exports Licenses for Rare Earth Technologies

China's Commerce Ministry said it is imposing tighter export licensing controls on rare earth-related technologies, including mining, smelting, magnetic material manufacturing and resource recycling. In a statement, the ministry also laid out stricter regulations on export of production lines that can be used in rare earth industries and signaled it will ban licenses for uses tied to defense and limit licenses tied to semiconductors. Exports rare earth applications related to emergency medical care, public health emergency responses and disaster relief will be exempt from the licensing. In New York trading, companies related to rare earths, including USA Rare Earth and Niocorp Developments, rose by double digits.

China is the world's biggest miner and processor of rare earths – a group of 17 elements critical in the manufacture of electric cars, aircraft, wind turbines, radar, consumer electronics and other products. China earlier this year eased a ban on rare-earth exports in exchange for the US easing its ban on chip exports to China, but the Trump administration has still kept a tight hand over exports of advanced chips and chipmaking equipment.

Israeli Cabinet Approves Gaza Ceasefire

The Israeli cabinet approved a ceasefire brokered by the US and Arab nations, paving the way for the release of hostages early next week and the resumption of humanitarian aid to Gaza. Israeli Foreign Minister Gideon Saar said the approval means a ceasefire will come into effect immediately. The ceasefire and hostages release are the first steps in US President Donald Trump's 20-point peace plan to end two years of warfare in Gaza. Palestinians detained in Israeli jails will also be released.

Nobel Peace Prize to Be Announced Today. Can Trump Win It?

The 2025 Nobel Peace Prize is scheduled to be announced later today. US President Donald Trump has openly been promoting himself for the prize in recognition for his peace efforts, claiming in a UN speech last month that he "ended seven 'un-endable' wars" – a boast widely disputed. Intense debate about Trump's chances and even worthiness for the prize has been swirling. Former US president Barack Obama won the prize in a somewhat contentious 2009 decision that Trump criticized.

The Nobel Prize committee awarded the 2025 prize for literature to László Krasznahorkai, 71, a Hungarian writer whose novels examine reality "to the point of madness." The committee praised his works as "compelling" and said they reaffirm the power of art amid apocalyptic terror.

Top Business

HSBC Proposes to Privatize Hang Seng Bank

UK-based banking giant HSBC proposes to buy the 36.5 percent of shares it doesn't already own in Hong Kong-listed subsidiary Hang Seng Bank in a privatization deal valued at about HK$290.7 billion (US$37.6 billion). HSBC said it will offer HK$155 a share. Hang Seng shares soared 26 percent to close at HK$149.80 on the announcement. The bank has 250 outlets across Hong Kong, serving about 4 million customers. For the first half of the year, Hang Seng reported assets of HK$1.8 trillion, profit of almost HK$7 billion and a net interest margin of 1.99 percent. The deal must be approved by Hang Seng shareholders.

US Port Fees on China-Linked Ships Come Into Effect Next Week

New US port fees on ships linked to China, flagged earlier this year, come into effect on October 14, with the extra cost to the biggest 10 cargo shippers expected to exceed US$3 billion next year, Reuters reported. The fees are part of President Donald Trump's stated ambition to end Chin's dominance in shipbuilding.

Vessels owned or operated by Chinese companies will face a flat fee of US$80 per net ton per voyage to the US. Non-Chinese operators of Chinese-built ships will be charged either US$23 per net tonnage or US$154 per 20-foot equivalent unit capacity, whichever is higher. Maritime data provider Alphaliner estimates that the higher port fees could cost China Ocean Shipping Corp (COSCO) alone as much as US$1.5 billion next year. Beijing has responded with a decree enabling counteraction against any discriminatory measures toward Chinese ships or crews.

Separately, US imports shipped by container from China dropped 23 percent in September, Reuters said, citing data provider Descartes. The decline reflects US tariffs still on a range of Chinese merchandise. Total US containerized imports in the month fell 8.4 percent, with China's proportion of that trade sliding to 33 percent from 34.5 percent in August. The steepest decline in Chinese goods shipped to the US were in in aluminum, footwear, clothing, toys and electrical machinery.

TSMC Says 3Q Revenue Rose 30 Percent

Taiwan Semiconductor Manufacturing Corp, the world's largest contract chipmaker, beat analysts' forecasts with a 30 percent increase in third-quarter revenue to NT$989.9 billion (US$32.47 billion), citing surging interest in AI applications, Reuters reported. The company, whose shares have risen a third this year, is scheduled to report full quarterly results next week.

Economy & Markets

China Adds 14 Entities to Restricted-Trade List, US targets China in New Sanctions

China added 14 foreign entities, including US companies Dedrone by Axon and TechInsights, to its "unreliable entities" list, which bans them from import-export trade involving China, investments in China or ties with any Chinese company or individual. The announcement from the Ministry of Commerce cited "sovereignty, security and development interests" as reasons for the decision.

Separately, the US Treasury Department imposed sanctions on about 100 individuals, entities and vessels, including China's Jincheng Petroleum and Rizhao Crude Oil Terminal, on grounds they assisted trading in Iranian gas and petrochemicals industries. A day earlier, US Department of Commerce said it will add a dozen China-based companies to its restricted trade list for their alleged roles in use of American technology found in weaponized drones operated by Hamas and Houthi militants in Yemen.

Consumer Spending During Long Chinese Holiday Rises 2.7 Percent

Consumer spending on retail products, dining and entertainment rose 2.7 percent from a year earlier during the eight-day holiday period that ended on Wednesday, the Ministry of Commerce said. It noted several trends, including the popularity of green, smart or ultra-chic products. A survey of 78 pedestrian streets and business districts found foot traffic up 8.8 percent and shopkeeper revenue rising 6 percent. Sales of smart home appliances and trendy clothing each rose 14 percent. In the services sector, the holiday box office exceeded 1.8 billion yuan (US$292 million in receipts.

Separately, China's visa-free entry for visitors from 76 countries helped boost foreign tourist numbers during the holiday. Beijing reported 119,000 overseas arrivals, up 48 percent from the 2024 holiday period. Sales in the capital's duty-free shops doubled to 22 million yuan.

JP Morgan Chief Sounds Warning on Bull Markets

Jaime Dimon, head of JP Morgan, the largest US bank, added his voice to the chorus of caution about runaway stock prices, saying he is "far more worried than others" about a serious market correction, which could come as early as the next six months. Speaking at an event in the UK, Dimon cited fiscal spending, global military buildup and geopolitical tensions as risk factors. "All these things cause a lot of issues that we don't know how to answer," he said. "The level of uncertainty should be higher in most people's minds than what I would call normal." Both the US Federal Reserve and the Bank of England has said recently that stock valuations are looking a bit pricey.

Separately. Kristalina Gerogieva, head of the International Monetary Fund pointed to growing strains, including record gold prices, investor anxiety, exceptionally high US stock valuations and slowing economic growth, to warn: "Buckle up: uncertainty is the new normal."

Corporate

Alibaba Enters Partnership With US National Basketball Association

Technology giant Alibaba signed a multiyear partnership with the National Basketball Association of the US to provide AI and cloud computing systems to the league as it returns to China. The NBA will stage two games in Macao on Saturday and Sunday involving the Brooklyn Nets, owned by Alibaba Chairman Joseph Tsai, and the Phoenix Suns. They will be the first NBA games held in China since 2019, when remarks deemed to be anti-China by Houston Rockets manager Daryl Morey resulted in a ban on NBA activities in the country. NBA celebrity Shaquille O'Neal will be among those attending the events in Macao.

China Robotics Companies Secure New Orders

China's humanoid robotics industry scored two major deals in early October, signaling accelerating commercial application. Shanghai-based Longcheer Technology signed an agreement with AgiBot to buy 1,000 G2 robots to work on tablet assembly lines, and Hangzhou-based Elu.AI entered into a 260 million yuan (US$36.5 million) partnership with Shihua Culture & Tourism Group to develop smart tourism sites using embodied intelligence robotics.

Porsche Posts Sales Slump, Led by China

German luxury carmaker Porsche said a 26 percent drop in China sales in the first nine months of the year led to a sales slump globally. In the January-September period, the company said it delivered 212,509 vehicles worldwide. For the third quarter, sales fell 6 percent.

InnoCare Pharma Sells Marketing Rights to Zena BioPharma

Beijing-based InnoCare Pharma sold overseas marketing rights for three Chinese-developed drugs to US-based Zenas BioPharma, including the global marketing rights outside of China and Southeast Asia for Orelabrutinib, a treatment multiple sclerosis. InnoCare stand to make as much as US$2 billion from the agreement.

DJI Cuts Prices up to 10 Percent for a Week

Chinese drone and consumer electronics maker DJI Technology has slashed prices on many of its products by more than 20 percent. The discounts cover items like portable power stations, handheld cameras, drones and robotic vacuum cleaners. The sale ends on October 14.

JD Logistics to Buy Two Units From Parent

JD Logistics said it is buying JD.com's wholly owned subsidiaries Dajiang and Dashen in a related party transaction aimed at expanding instant-delivery services amid fierce competition with Meituan and Alibaba, Yicai Global reported. No figure was given for the value of the transfer.