Finance

Original title: Japanese Super-Long Bonds Fall After Treasuries: Markets Wrap Japanese bonds joined a slump in global debt as a rush of corporate-debt sales Bloomberg Terminal and concerns over developed-world budgets dragged down European fixed-income securities and Treasuries. Super-long bonds led losses in Japan, with 30-year yields rising eight basis points to 3.28%. US 30-year bond yields held close to 5% after a spike on Tuesday that weighed on tech shares on Wall Street. Australian bonds also retreated. Asian stocks followed the US lower. The dollar rose for a second day and gold extended a six-day rally to print a fresh all-time high. ...

Original title: China’s Chemicals Makers Reap Reward of Shift From Oil to Coal Falling coal prices are shifting the profitability of China’s chemicals sector, away from traditional oil-based producers to the growing number of plants that use the solid fuel as their feedstock. China’s biggest coal-to-chemicals producer, Ningxia Baofeng Energy Group Co., saw first-half profits surge 73%, while top miner China Shenhua Energy Co. reported a near 20-fold increase at its Inner Mongolia chemicals facility. Meanwhile, oil refining giant Sinopec lost 4.5 billion yuan ($630 million) at its chemicals unit over the first six months of the year, even worse than the 3.6 billion yuan it shed in the same period in 2024. ...

Original title: Goldman’s Top Asia Banker Says China Stock Rally Has Room to Run Goldman Sachs Group Inc.’s top Asia banker sounded an optimistic note on Chinese equities amid resurgent flows and said the firm is hiring in Hong Kong and India. “What we’re hearing from our clients and investors is sentiment has improved” around China’s stock market, said Kevin Sneader , the firm’s president of Asia-Pacific ex-Japan, in an interview with Bloomberg Television on Wednesday. “China still faces many challenges, but this rally in the equity markets has got some legs.” ...

Original title: Prabowo Jets to Meet Xi in China as Indonesia Protests Cool Indonesian President Prabowo Subianto flew overnight to China to join dozens of world leaders at Xi Jinping ’s military parade, signaling confidence he’s defused the country’s worst protest violence in years and pivoting to global diplomacy. His departure late Tuesday from Jakarta comes days after protesters rampaged across several cities, leaving at least 10 dead, and looting some lawmakers’ homes, the most serious political test of his 10-month presidency. ...

Original title: Japanese Ultra-Long Bonds Fall After Treasuries: Markets Wrap Treasuries steadied in early Asian trading after a rush of corporate-debt sales Bloomberg Terminal and worries over developed-world budgets sent bonds and stocks lower. US 30-year bond yields held close to 5% on Wednesday after a spike overnight weighed on tech shares on Wall Street. Ultra-long bonds in Japan also fell, sending yields on the 30-year higher by more than six basis points to 3.265%. Asian stocks followed the US lower at the open. ...

Original title: Prabowo Jets to Meet Xi in China After Deadly Indonesia Protests Indonesian President Prabowo Subianto flew overnight to China to join dozens of world leaders at Xi Jinping ’s military parade, signaling confidence he’s defused the country’s worst protest violence in years and pivoting to global diplomacy. His departure late Tuesday from Jakarta comes days after protesters rampaged across several cities, leaving at least 10 dead, and looting some lawmakers’ homes, the most serious political test of his 10-month presidency. ...

Original title: Klarna, Backers Seek $1.27 Billion in IPO After Tariff Pause Klarna Group Plc and some of its shareholders are seeking to raise as much as $1.27 billion as the financial-technology company revives a New York initial public offering that was delayed earlier this year amid market volatility. The company and some of its backers are offering 34.3 million shares for $35 to $37 apiece, according to a filing Tuesday with the US Securities and Exchange Commission. At the top of the range, the company would have a market value of about $14 billion based on the outstanding shares listed in the filing. ...

Original title: Gold Extends Gains to Fresh Record on Rate-Cut Bets, Debt Fears Gold extended a six-day rally to print a fresh all-time high, as the prospect of US interest-rate cuts boosted the metal’s appeal and traders sought safety following a selloff in equity and bond markets. Bullion for immediate delivery rose as much as 0.4% to hit 3,546.96 an ounce as markets opened in Asia on Wednesday, narrowly higher than Tuesday’s record. Prices have advanced 5% over the past six sessions, underpinned by increased haven demand amid renewed concerns over the Federal Reserve’s future and budget concerns in developed-world countries. ...

Original title: Petrobras Can Withstand US Tariff Pressure Thanks to Asia Petrobras is in a favorable position to withstand the US trade war thanks to robust sales to other countries including India, Chief Executive Officer Magda Chambriard said. “There is a lot of demand in Asia for our products,” Chambriard said at a Bloomberg New Voices forum in Sao Paulo. Original article

Original title: Petrobras Can Withstand Trade War and Sees India as Key Market Petrobras is in a favorable position to withstand the US trade war thanks to robust sales to other countries including India, Chief Executive Officer Magda Chambriard said. “There is a lot of demand in Asia for our products,” said Chambriard at a Bloomberg New Voices forum in Sao Paulo. Original article