World News
Oil Slips As Stocks Rise On Hope Of Renewed Demand From China

(CTN NEWS) – Yesterday, world markets increased, and oil prices initially recovered amid expectations that China’s relaxation of its anti-Covid-19 measures will aid in the restoration of global supply chains and lower inflation.
China’s adjustment in policy, announced on Wednesday, would help the country’s economy to pick up the pace, state broadcaster CCTV quoted Premier Li Keqiang as saying yesterday.
A sure sign zero-Covid in China is coming to an end.
We are sat in a crowded room in Anhui with the Chinese Premier Li Keqiang and heads of the IMF, World Bank and WTO. No masks for them. No quarantine for us pic.twitter.com/v6qQEhOhV2
— Leo Lord-Jones (@leolordjones) December 9, 2022
While copper soared on expectations of higher demand from China, its biggest customer, Wall Street, increased on the excitement at a rebound in shares of Chinese companies listed on US exchanges.
Goldman Sachs estimated prices for the metal could approach a record US$11,000 (RM 48,378) a tonne in a year.
“The awareness that China will be back online and creating products will help bring down inflation, and that’s a positive thing.”
Tim Ghriskey, the chief investment strategist at Inverness Counsel in New York, said of the Federal Reserve: “If inflation can go down, the Fed can step aside and halt.”
The yuan traded close to a three-month high, and Hong Kong’s Hang Seng increased by more than 3%.
But experts cautioned that any economic recovery would take time to materialize and that the easing of limits would temporarily lower demand as infections rise.
The S&P 500 halted a five-day losing run, and MSCI’s all-country world index ended four straight losses.
The MSCI index, which measures market performance globally, increased by 0.68 percent, while on Wall Street, the Dow Jones Industrial Average, and S&P 500.
The S&P 500 snaps a five-day losing streak and MSCI's all-country world index ends four straight days of losses. https://t.co/jvkPEA4w6p
— Rappler (@rapplerdotcom) December 9, 2022
And Nasdaq Composite all saw gains of 0.54 percent, 0.75 percent, and 1.13 percent, respectively.
European markets slumped for a sixth session amid mounting fears of an oncoming recession. The STOXX 600 index for all of Europe finished 0.17 percent down.
Markets are delivering inconsistent messages with bonds “getting very bearish” and stock investors expecting an immediate shift by the Fed, said c, a chief investment officer of the Rockefeller Global Family Office in New York.
At their meeting the following week, Fed members are expected to announce a 50-basis-point increase in the lending rate of the US central bank while also signalling a slower rate of future rate increases.
“The bulls may spin the story that inflation expectations and real yields are coming down. They are both headed in the correct direction. Thus, the (recent) equities rally is justified,” according to Chang.
“That’s very short-sighted, he said, because the market is anticipating a recessionary environment and lower earnings estimates.”
Crude prices seesawed as anticipation that a key Canada-to-US pipeline will return to service following a rupture.
And the increase in oil supply weighed on the market at a time when economic slowdowns around the world have lowered energy demand.
US crude futures finished down 55 cents at US$71.46 a barrel, while Brent slid US$1.02 to settle at US$76.15.
Investors evaluated the potential that the Fed’s strict monetary policy could trigger a recession as the dollar slipped lower versus the euro. The euro EUR= climbed 0.47 percent to US$1.0554.
Treasury yields climbed as investors expected a report next week on inflation and the Fed meeting.
Global bond yields, which move inversely to price, have plummeted in recent weeks on fears of slower growth or recessions will restrict the rise in rates.
The yield on 10-year Treasury notes went up 8.5 basis points to 3.493 percent, while Germany’s 10-year bond rate gained 2.6 basis points to 1.845 percent.
Gold prices increased as the dollar weakened, and speculators positioned themselves ahead of the US inflation data and the Fed’s policy pronouncements.
US gold futures closed 0.2 percent higher at US$1,801.50 an ounce.
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World News
Marine Le Pen’s National Rally Wins the First Round in France 2024 Election

Exit polls in France showed that Marine Le Pen’s right-wing National Rally (RN) party made huge gains to win the first round of election on Sunday. However, the final outcome will depend on how people trade votes in the days before next week’s run-off.
Exit polls from Ipsos, Ifop, OpinionWay, and Elabe showed that the RN got about 34% of the vote. This was a big loss for President Emmanuel Macron, who called the early election after his party lost badly in the European Parliament elections earlier this month.
The National Rally (RN) easily won more votes than its opponents on the left and center, including Macron’s Together group, whose bloc was predicted to get 20.5% to 23% of the vote. Exit polls showed that the New Popular Front (NFP), a hastily put together left-wing alliance, would get about 29% of the vote.
The results of the exit polls matched what people said in polls before the election, which made Le Pen’s fans very happy. But they didn’t say for sure if the anti-immigrant, anti-EU National Rally (RN) will be able to “cohabit” with the pro-EU Macron in a government after the runoff election next Sunday.
Voters in France Angry at Macron
Many French people have looked down on the National Rally (RN) for a long time, but now it is closer to power than it has ever been. A party known for racism and antisemitism has tried to clean up its image, and it has worked. Voters are angry at Macron, the high cost of living, and rising concerns about immigration.
Fans of Marine Le Pen waved French flags and sang the Marseillaise in the northern French district of Henin-Beaumont. The crowd cheered as Le Pen said, “The French have shown they are ready to turn the page on a power that is disrespectful and destructive.”
The National Rally’s chances of taking power next week will rest on what political deals its opponents make in the next few days. Right-wing and left-wing parties used to work together to keep the National Rally (RN) out of power, but the “republican front,” which refers to this group, is less stable than ever.
If no candidate gets 50% of the vote in the first round, the top two candidates and anyone else with 12.5% of the registered voters immediately move on to the second round. The district goes to the person who gets the most votes in the runoff.
France is likely to have a record number of three-way runoffs because so many people voted on Sunday. Experts say that these are much better for the National Rally (RN) than two-way games. Almost right away on Sunday night, the horse trade began.
Macron asked people to support candidates who are “clearly republican and democratic.” Based on what he has said recently, this would rule out candidates from the National Rally (RN) and the hard-left France Unbowed (LFI) party. Leaders on the far left and the center left both asked their third-placed candidates to drop out.
Minority government
Jean-Luc Melenchon, leader of France Unbowed, said, “Our rule is simple and clear: not a single more vote for the National Rally.” But the center-right Republicans party, which split before the vote when some of its members joined the RN, didn’t say anything.
The president of the RN party, Jordan Bardella, who is 28 years old, said he was ready to be prime minister if his party gets a majority of seats. He has said he won’t try to make a minority government, and neither Macron nor the communist NFP will work with him.
“I will be a “cohabitation” Prime Minister, respectful of the constitution and of the office of President of the Republic, but uncompromising about the policies we will implement,” he said.
A few thousand anti-RN protesters met in Paris’s Republique square on Sunday night for a rally of the leftist alliance. The mood was gloomy.
Niya Khaldi, a 33-year-old teacher, said that the RN’s good results made her feel “disgust, sadness, and fear.”
“This is not how I normally act,” she said. “I think I came to reassure myself, to not feel alone.”
Election Runoff
The result on Sunday didn’t have much of an effect on the market. In early Asia-Pacific trade, the euro gained about 0.23%. Fiona Cincotta, a senior markets expert at City Index in London, said she was glad the outcome “didn’t come as a surprise.”
“Le Pen had a slightly smaller margin than some of the polls had pointed to, which may have helped the euro a little bit higher on the open,” she noted. “Now everyone is waiting for July 7 to see if the second round supports a clear majority or not. So it does feel like we’re on the edge of something.”
Some pollsters thought the RN would win the most seats in the National Assembly, but Elabe was the only one who thought the party would win all 289 seats in the run-off. Seat projections made after the first round of voting are often very wrong, and this race is no exception.
On Sunday night, Reuters reported there were no final results for the whole country yet, but they were due in the next few hours. In France, exit polls have usually been very accurate.
Voter turnout was high compared to previous parliamentary elections. This shows how passionate people are about politics after Macron made the shocking and politically risky decision to call a vote in parliament.
Mathieu Gallard, research head at Ipsos France, said that at 1500 GMT, nearly 60% of voters had turned out, up from 39.42% two years earlier. This was the highest comparable turnout since the 1986 legislative vote. It wasn’t clear when the official number of people who voted would be changed.
World News
Pakistan Seeks US Support for Counter-Terrorism Operation Azm-e-Istehkam

(CTN News) – Pakistan’s Ambassador to the United States, Masood Khan, has urged Washington to provide Pakistan with sophisticated small arms and communication equipment to ensure the success of Operation Azm-e-Istehkam, a newly approved counter-terrorism initiative in the country.
The federal government recently approved the reinvigorated national counter-terrorism drive, which comprises three components: doctrinal, societal, and operational.
Ambassador Khan noted that work on the first two phases has already begun, with the third phase set to be implemented soon.
Addressing US policymakers, scholars, and corporate leaders at the Wilson Center in Washington, Khan emphasized the importance of strong security links, enhanced intelligence cooperation, and the resumption of sales of advanced military platforms between Pakistan and the US.
He argued that this is crucial for regional security and countering the rising tide of terrorism, which also threatens the interests of the US and its allies.
“Pakistan has launched Azm-i-Istehkam […] to oppose and dismantle terrorist networks. For that, we need sophisticated small arms and communication equipment,” said Ambassador Khan.
Pakistan–United States relations
The ambassador observed that the prospects of Pakistan-United States relations were bright, stating that the two countries “share values, our security and economic interests are interwoven, and it is the aspiration of our two peoples that strengthens our ties.”
He invited US investors and businesses to explore Pakistan’s potential in terms of demographic dividend, technological advancements, and market opportunities.
Khan also suggested that the US should consider Pakistan as a partner in its diplomatic efforts in Kabul and collaborate on counterterrorism and the rights of women and girls in Afghanistan.
He stressed that the bilateral relationship should be based on ground realities and not be hindered by a few issues.
“We should not base our engagement on the incongruity of expectations.
Our ties should be anchored in ground realities, even as we aim for stronger security and economic partnerships. Secondly, one or two issues should not hold the entire relationship hostage,” said the ambassador.
World News
China Urges Taiwanese to Visit Mainland ‘Without Worry’ Despite Execution Threat

China has reassured Taiwanese citizens that they can visit the mainland “without the slightest worry”, despite Taiwan raising its travel alert to the second-highest level in response to Beijing’s new judicial guidelines targeting supporters of Taiwanese independence.
Last week, China published guidelines that could impose the death penalty for “particularly serious” cases involving “diehard” advocates of Taiwanese independence.
In response, Taiwan’s government urged the public to avoid “unnecessary travel” to mainland China and Hong Kong, and raised its travel warning to the “orange” level.
However, Zhu Fenglian, a spokeswoman for a Chinese body overseeing Taiwan affairs, stated that the new directives are “aimed solely at the very small number of supporters of ‘Taiwan independence’, who are engaged in malicious acts and utterances”.
She emphasized that “the vast majority of Taiwan compatriots involved in cross-strait exchanges and cooperation do not need to have the slightest worry when they come to or leave mainland China”.
“They can arrive in high spirits and leave fully satisfied with their stay,” Zhu added.
What’s Behind The China-Taiwan Tensions?
The tensions stem from the longstanding dispute over Taiwan’s status. Mainland China claims Taiwan as part of its territory and has refused to rule out using force to bring the democratic island under its control, while Taiwan sees itself as a sovereign state.
Beijing has not conducted top-level communications with Taipei since 2016, when the Democratic Progressive Party’s Tsai Ing-wen became Taiwan’s leader. China has since branded her successor, President Lai Ching-te, a “dangerous separatist”.
“The DPP authorities have fabricated excuses to deceive the people on the island and incite confrontation and opposition,” Zhu said in her statement.
Despite the political tensions, many Taiwanese continue to travel to mainland China for work, study, or business.
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