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China’s economy is expected to have grown “around five percent” in 2025, President Xi Jinping said on Wednesday, despite “pressure” during a year he described as “very unusual”, state media reported.The announcement came in Xi’s New Year’s Eve speech to a top political consultative body that was reported by state news agency Xinhua.Such an annual expansion would be in line with the official government target and on par with the five percent growth recorded in 2024.The world’s second-largest economy has come under increasing pressure in recent years, with consumer sentiment having so far failed to recover from a Covid-19 pandemic-induced plunge.A persistent debt crisis in the property sector, industrial overcapacity and heightened trade conflict with Washington have also darkened the outlook.”We faced challenges head-on and strived diligently, successfully achieving the main goals of economic and social development,” Xi said in his remarks to the Chinese People’s Political Consultative Conference, according to Xinhua.”The growth rate is expected to reach around five percent,” he said.Experts widely expect Beijing to announce a similar economic growth target for 2026 at a major annual political gathering in early March.Xi said in a later speech broadcast to the nation that China had “overcome many difficulties and challenges” in recent years but that its economic, technological and defence capabilities had improved.”Many large AI models have been competing in a race to the top, and breakthroughs have been achieved in the research and development of our own chips,” Xi said, according to Xinhua.China should “focus on our goals and tasks, boost confidence, and build momentum to press ahead” in the coming year, he said.Data released on Wednesday offered a positive sign for policymakers, with factory activity in December inching into expansionary territory to snap an eight-month streak of contraction.

China said on Wednesday it will impose additional 55 percent tariffs on some beef imports from countries including Brazil, Australia and the United States that exceed a certain quantity from January 1.The price of beef in China has trended downwards in recent years, with analysts blaming oversupply and a lack of demand as the world’s second-largest economy has slowed.At the same time imports have surged, with China representing a hugely important market for countries such as Brazil, Argentina and Australia.Investigators found beef imports had damaged China’s domestic industry, Beijing’s commerce ministry said in a statement. The probe covered fresh, frozen, bone-in and boneless beef.The extra tariffs apply for three years — until December 31, 2028.The ministry described the levies as “safeguards” and said they would be gradually relaxed.Countries have been assigned annual quotas and beef sent to China will be subject to the extra 55 percent levy if imports go beyond that amount.Quotas expand slightly each year.In 2026, Brazil has an import quota of 1.1 million tons while Argentina has a cap of roughly half that.Australia faces a quota of around 200,000 tons and the United States one of 164,000 tons.The ministry also said it was suspending part of a free trade agreement with Australia covering beef.”The implementation of safeguards on imported beef is intended to temporarily help the domestic industry get through difficulties, not to restrict normal beef trade,” a spokesperson said in a separate statement.

Taiwan’s world-leading microchip manufacturer TSMC says it has started mass producing next-generation “2-nanometre” chips. AFP looks at what that means, and why it’s important:- What can they do? -The computing power of chips has increased dramatically over the decades as makers cram them with more microscopic electronic components.That has brought huge technological leaps to everything from smartphones to cars, as well as the advent of artificial intelligence tools like ChatGPT.Advanced 2-nanometre (2nm) chips perform better and are more energy-efficient than past types, and are structured differently to house even more of the key components known as transistors.The new chip technology will help speed up laptops, reduce data centres’ carbon footprint and allow self-driving cars to spot objects quicker, according to US computing giant IBM.For artificial intelligence, “this benefits both consumer devices — enabling faster, more capable on-device AI — and data centre AI chips, which can run large models more efficiently”, said Jan Frederik Slijkerman, senior sector strategist at Dutch bank ING.- Who makes them? -Producing 2nm chips, the most cutting-edge in the industry, is “extremely hard and expensive”, requiring “advanced lithography machines, deep knowledge of the production process, and huge investments”, Slijkerman told AFP.Only a few companies are able to do it: TSMC, which dominates the chip manufacturing industry, as well as South Korea’s Samsung and US firm Intel.TSMC is in the lead, with the other two “still in the stage of improving yield” and lacking large-scale customers, said TrendForce analyst Joanne Chiao.Japanese chipmaker Rapidus is also building a plant in northern Japan to make 2nm chips, with mass production slated for 2027.- What’s the political impact? -TSMC’s path to mass 2nm production has not always been smooth.Taiwanese prosecutors charged three people in August with stealing trade secrets related to 2nm chips to help Tokyo Electron, a Japanese company that makes equipment for TSMC.”This case involves critical national core technologies vital to Taiwan’s industrial lifeline,” the high prosecutors’ office said at the time.Geopolitical factors and trade wars are also at play.Nikkei Asia reported this summer that TSMC, which counts Nvidia and Apple among its clients, will not use Chinese chipmaking equipment in its 2nm production lines to avoid disruption from potential US restrictions.TSMC says they plan to speed up production of 2nm chips in the United States, currently targeted for “the end of the decade”.- How small is two nanometres? -Extremely tiny — for reference, an atom is approximately 0.1 nanometres across.But in fact 2nm does not refer to the actual size of the chip itself, or any chip components, and is just a marketing term.Instead “the smaller the number, the higher the density” of these components, Chiao told AFP.IBM says 2nm designs can fit up to 50 billion transistors, tiny components smaller than a virus, on a chip the size of a fingernail.To create the transistors, slices of silicon are etched, treated and combined with thin films of other materials.A higher density of transistors results in a smaller chip or one the same size with faster processing power.- Can chips get even better? -Yes, and TSMC is already developing “1.4-nanometre” technology, reportedly to go into mass production around 2028, with Samsung and Intel not far behind.TSMC started high-volume 3nm production in 2023, and Taiwanese media says the company is already building a 1.4nm chip factory in the city of Taichung.As for 2nm chips, Japan’s Rapidus says they are “ideal for AI servers” and will “become the cornerstone of the next-generation digital infrastructure”, despite the huge technical challenges and costs involved.

Taiwanese tech titan TSMC has started mass producing its cutting-edge 2-nanometre semiconductor chips, the company said in a statement seen by AFP on Wednesday.TSMC is the world’s largest contract maker of chips, used in everything from smartphones to missiles, and counts Nvidia and Apple among its clients.”TSMC’s 2nm (N2) technology has started volume production in 4Q25 as planned,” TSMC said in an undated statement on its website.The chips will be the “most advanced technology in the semiconductor industry in terms of both density and energy efficiency”, the company said. “N2 technology, with leading nanosheet transistor structure, will deliver full-node performance and power benefits to address the increasing need for energy-efficient computing.”The chips will be produced at TSMC’s “Fab 20” facility in Hsinchu, in northern Taiwan, and “Fab 22” in the southern port city of Kaohsiung. More than half of the world’s semiconductors, and nearly all of the most advanced ones used to power artificial intelligence technology, are made in Taiwan.TSMC has been a massive beneficiary of the frenzy in AI investment. Nvidia and Apple are among firms pouring many billions of dollars into chips, servers and data centres.AI-related spending is soaring worldwide, and is expected to reach approximately $1.5 trillion by 2025, according to US research firm Gartner, and over $2 trillion in 2026 — nearly two percent of global GDP.Taiwan’s dominance of the chip industry has long been seen as a “silicon shield” protecting it from an invasion or blockade by China — which claims the island is part of its sovereign territory — and an incentive for the United States to defend it.But the threat of a Chinese attack has fuelled concerns about potential disruptions to global supply chains and has increased pressure for more chip production beyond Taiwan’s shores.Chinese fighter jets and warships encircled Taiwan during live-fire drills this week aimed at simulating a blockade of the democratic island’s key ports and assaults on maritime targets.Taipei, which slammed the two-day war games as “highly provocative and reckless”, said the manoeuvre failed to impose a blockade on the island.TSMC has invested in chip fabrication facilities in the United States, Japan and Germany to meet soaring demand for semiconductors, which have become the lifeblood of the global economy.But in an interview with AFP this month, Taiwanese Deputy Foreign Minister Francois Chih-chung Wu said the island planned to keep making the “most advanced” chips on home soil and remain “indispensable” to the global semiconductor industry.

Japanese tech investor SoftBank said Wednesday that its stake in OpenAI is now around 11 percent after completing the second stage of a $41-billion investment in the maker of ChatGPT.Having made colossal profits as well as losses on previous investments, flamboyant founder Masayoshi Son has pivoted SoftBank towards artificial intelligence (AI).SoftBank had announced in April its planned investment of up to $40 billion in Open AI, and on Wednesday it said that the second tranche of $22.5 billion was completed.The final investment reached $41 billion and includes $30 billion from SoftBank’s Vision Fund plus $11 billion from other third-party co-investors, it said.”We are deeply aligned with OpenAI’s vision of ensuring AGI benefits all of humanity,” Son, 68, said in a statement.AGI refers to artificial general intelligence, the mooted next stage of AI when computers could outperform humans in different tasks.”SoftBank saw the potential of AI early and committed with a deep belief in its impact on humanity,” said OpenAI chief Sam Altman.”Their global leadership and scale help us move faster and bring advanced intelligence to the world,” Altman said in the joint statement.SoftBank and OpenAI, with Oracle, are also leading the $500-billion Stargate project to build AI infrastructure in the United States announced by President Donald Trump in January 2025.SoftBank also announced this week that it is buying US data centre investor DigitalBridge in a deal worth around $4 billion.

Stock markets were mixed on Tuesday while silver prices rebounded amid volatile trading in precious metals.Wall Street’s main indices closed slightly lower as worries over valuations of artificial intelligence stocks lingered in the final days of the year.”There hasn’t been much that has moved markets” in the past few days, said Art Hogan of B. Riley Wealth Management. “Today is no different.”Adam Sarhan of 50 Park Investments told AFP that it is “perfectly normal for the market to pause, consolidate, go down a little bit.””Right now, the market is consolidating a very strong rally from April’s low until October,” he added.The major US indices remain on track for solid gains over the full year.The Federal Reserve’s monetary easing in the second half of this year has been a key driver of the rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in AI for some time.Minutes of the Fed’s recent policy meeting in December indicated that most Fed officials see further rate cuts as appropriate, if inflation cools over time as expected.But when it came to the extent and timing of reductions, some officials suggested that it was likely appropriate to keep levels unchanged for some time after December’s cut.”Perhaps one of the biggest threats to stock indices for 2026 is an end to interest rate cuts, or even rate hikes in the major economies,” Kathleen Brooks, research director at trading group XTB, noted Tuesday.Investors, including central banks, have been piling into dollar-denominated silver and gold on expectations of more cuts to US interest rates next year.Gold, in particular, has rocketed to record highs this year thanks to its status as a safe-haven investment amid geopolitical unrest.The price of silver jumped 5.5 percent to $76.09 an ounce Tuesday, having reached a record-high $84 on Monday before tumbling as investors booked profits.Silver, a key industrial metal as well as being used for jewellery, has won additional support from tight supply concerns.Europe’s main stock markets ended the day with gains.Frankfurt, which is closed on Wednesday, ended the year with a gain of 23 percent.The CAC 40 index in Paris was heading for an annual gain of more than 10 percent and London’s FTSE 100 of over 21 percent.Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 26 percent — both having hit records earlier in the year.But the two edged down Tuesday, with Sydney, Mumbai and Taipei also lower. Hong Kong, Singapore, Wellington, Bangkok and Jakarta rose. Shanghai was flat.In company news, shares in Facebook owner Meta rose 1.1 percent after it announced it had agreed to buy Manus, an artificial intelligence agent created by a company founded in China but now based in Singapore.- Key figures at around 2115 GMT – New York – Dow: DOWN 0.2 percent at 48,367.06 points (close)New York – S&P 500: DOWN 0.1 percent at 6,896.24 (close)New York – Nasdaq Composite: DOWN 0.2 percent at 23,419.08 (close)London – FTSE 100: UP 0.8 percent at 9,940.71 (close)Paris – CAC 40: UP 0.7 percent at 8,168.15 (close)Frankfurt – DAX: UP 0.6 percent at 24,490.41 (close)Tokyo – Nikkei 225: DOWN 0.4 percent at 50,339.48 (close) Hong Kong – Hang Seng Index: UP 0.9 percent at 25,854.60 (close) Shanghai – Composite: FLAT at 3,965.12 (close)Euro/dollar: DOWN at $1.1748 from $1.1766 on MondayPound/dollar: DOWN at $1.3468 from $1.3504Dollar/yen: UP at 156.43 yen from 156.06 yen Euro/pound: UP at 87.23 pence from 87.00 pence Brent North Sea Crude: FLAT at $61.92 per barrelWest Texas Intermediate: DOWN 0.2 percent at $57.95 per barrelburs-rl/tmc-bys/jgc

Stocks markets mostly moved higher on Tuesday while silver prices rebounded amid volatile trading in precious metals.Wall Street’s main indices were barely changed in early afternoon trading as worries over valuations of artificial intelligence stocks lingered in the final days of 2025.”It’s perfectly normal for the market to pause, consolidate, go down a little bit, so on,” said Adam Sarhan of 50 Park Investments.”Right now, the market is consolidating a very strong rally from April’s low until October,” he added.The blue-chip Dow was still heading nevertheless for a gain of more than 13 percent in 2025, while the broader S&P 500 was on track for an increase of more than 17 percent and the tech-heavy Nasdaq was up more than 21 percent.The Fed’s monetary easing in the second half of this year has been a key driver of the markets’ rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in artificial intelligence for some time.Investors were awaiting minutes from the Federal Reserve’s most recent policy meeting to scour for clues on the outlook for US interest rates next year.”Perhaps one of the biggest threats to stock indices for 2026 is an end to interest rate cuts, or even rate hikes in the major economies,” Kathleen Brooks, research director at trading group XTB, noted Tuesday.Investors, including central banks, have been piling into dollar-denominated silver and gold on expectations of more cuts to US interest rates next year.Gold, in particular, has rocketed to record highs this year thanks to its status as a safe-haven investment amid geopolitical unrest.The price of silver jumped more than three percent to $74.47 an ounce Tuesday, having reached a record-high $84 on Monday before tumbling as investors booked profits.Silver, a key industrial metal as well as being used for jewellery, has won additional support from tight supply concerns.Europe’s main stock markets ended the day with gains.Frankfurt, which is closed on Wednesday, ended the year with a gain of 23 percent.The CAC 40 index in Paris was heading for an annual gain of more than 10 percent and London’s FTSE 100 of over 21 percent.Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 26 percent — both having hit records earlier in the year.But the two edged down Tuesday, with Sydney, Mumbai and Taipei also lower. Hong Kong, Singapore, Wellington, Bangkok and Jakarta rose. Shanghai was flat.In company news, shares in Facebook owner Meta rose 1.1 percent after it announced it had agreed to buy Manus, an artificial intelligence agent created by a company founded in China but now based in Singapore.- Key figures at around 1630 GMT – New York – Dow: DOWN less than 0.1 percent at 48,418.63 pointsNew York – S&P 500: UP less than 0.1 percent at 6,910.34New York – Nasdaq Composite: UP 0.1 percent at 23,503.47London – FTSE 100: UP 0.8 percent at 9,940.71 (close)Paris – CAC 40: UP 0.7 percent at 8,168.15 (close)Frankfurt – DAX: UP 0.6 percent at 24,490.41 (close)Tokyo – Nikkei 225: DOWN 0.4 percent at 50,339.48 (close) Hong Kong – Hang Seng Index: UP 0.9 percent at 25,854.60 (close) Shanghai – Composite: FLAT at 3,965.12 (close)Euro/dollar: DOWN at $1.1762 from $1.1766 on MondayPound/dollar: DOWN at $1.3472 from $1.3504Dollar/yen: UP at 156.27 yen from 156.06 yen Euro/pound: UP at 87.31 pence from 87.00 pence Brent North Sea Crude: UP 0.2 percent at $61.61 per barrelWest Texas Intermediate: UP 0.3 percent at $58.27 per barrelburs-rl/rmb

European stock markets rose Tuesday after Tokyo closed out a strong year, as silver prices rebounded amid volatile trading in precious metals.Wall Street stocks opened flat, while the dollar pushed higher against main rivals awaiting minutes from the Federal Reserve’s most recent policy meeting.Investors will scour the minutes later in the day for clues on the outlook for US interest rates next year.”Perhaps one of the biggest threats to stock indices for 2026 is an end to interest rate cuts, or even rate hikes in the major economies,” Kathleen Brooks, research director at trading group XTB, noted Tuesday.Investors, including central banks, have been piling into dollar-denominated silver and gold on expectations of more cuts to US interest rates next year.Gold, in particular, has rocketed to record highs this year thanks to its status as a safe haven investment amid geopolitical unrest.The price of silver jumped more than three percent to $74.47 an ounce Tuesday, having reached a record-high $84 on Monday before tumbling as investors booked profits.Silver, a key industrial metal as well as being used for jewellery, has won additional support from tight supply concerns.Equity traders were taking it easy in the last few days of 2025 following a stellar 12 months that have seen tech firms push several stock markets to all-time highs.Wall Street stocks “faced some mild post-Christmas indigestion on Monday, but even with that slight dip, the major averages remain not far from their best levels of the year,” said market analyst Patrick O’Hare at Briefing.com. The blue-chip Dow is heading for a gain of more than 13 percent in 2025, while the broader S&P 500 is on track for an increase of more than 17 percent and the tech-heavy Nasdaq is up more than 21 percent.The Fed’s monetary easing in the second half of this year has been a key driver of the markets’ rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It has also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in artificial intelligence for some time.Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 26 percent — both having hit records earlier in the year.But the two edged down Tuesday, with Sydney, Mumbai and Taipei also lower. Hong Kong, Singapore, Wellington, Bangkok and Jakarta rose. Shanghai was flat.London, Frankfurt and Paris were all higher in afternoon trading. The CAC 40 index in Paris was heading for an annual gain of more than 10 percent, London’s FTSE 100 of over 21 percent and the DAX 40 in Frankfurt a gain of around 23 percent.In company news, shares in Facebook owner Meta rose 0.6 percent after it announced it had agreed to buy Manus, an artificial intelligence agent created by a company founded in China but now based in Singapore.- Key figures at around 1430 GMT – New York – Dow: FLAT at 48,457.98 pointsNew York – S&P 500: FLAT at 6,903.89New York – Nasdaq Composite: DOWN less than 0.1 percent at 23,457.49 London – FTSE 100: UP 0.6 percent at 9,928.33 Paris – CAC 40: UP 0.5 percent at 8,153.17Frankfurt – DAX: UP 0.6 percent at 24,490.41Tokyo – Nikkei 225: DOWN 0.4 percent at 50,339.48 (close) Hong Kong – Hang Seng Index: UP 0.9 percent at 25,854.60 (close) Shanghai – Composite: FLAT at 3,965.12 (close)Euro/dollar: DOWN at $1.1760 from $1.1766 on MondayPound/dollar: DOWN at $1.3476 from $1.3504Dollar/yen: UP at 156.26 yen from 156.06 yen Euro/pound: UP at 87.25 pence from 87.00 pence Brent North Sea Crude: UP 0.4 percent at $61.73 per barrelWest Texas Intermediate: UP 0.5 percent at $58.39 per barrelburs-rl/gv

Precious metals extended losses Tuesday on profit-taking after hitting recent records, while equities fluctuated in quiet trade as investors wound down ahead of the New Year break.Traders were taking it easy in the last few days of 2025 following a stellar 12 months that have seen tech firms push several stock markets to all-time highs, while bitcoin, gold and silver have also enjoyed multiple peaks.Minutes from the Federal Reserve’s most recent policy meeting — at which it cut interest rates a third straight time — are due to be released later in the day and will be scanned for an idea about whether a fourth can be expected in January.The US central bank’s monetary easing in the back end of this year has been a key driver of the markets’ rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It has also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in artificial intelligence for some time.Still, Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 26 percent — both having hit records earlier in the year.But the two edged down Tuesday, with Sydney, Mumbai and Taipei also lower. Hong Kong, Singapore, Wellington, Bangkok and Jakarta rose. Shanghai was flat.London rose at the open, Frankfurt was flat and Paris dipped.The mixed performance followed losses for all three main indexes on Wall Street.The big moves of late have been seen in precious metals, with gold hitting a record just shy of $4,550. Silver, meanwhile, topped out at $84 after soaring around 150 percent this year.Investors have been piling into the commodities on bets for more US rate cuts, a weaker dollar and geopolitical tensions.Silver has also been boosted by increased central bank purchases and supply concerns.However, both metals have pulled back sharply this week on profit-taking, with gold now around $4,360 and silver at $74.50.”Headlines screamed collapse, but zooming out, all that really happened was a reset to three- or four-day levels,” wrote SPI Asset Management’s Stephen Innes.”The market ran hot, tripped over its own shoelaces, and landed back where it had been standing earlier in the week. One beneficial side effect is that silver flushed enough excess to no longer screen as overbought, which matters more than the move itself.”Oil dipped, having jumped more than two percent Monday when investors rowed back bets on peace talks to end Russia’s war with Ukraine as a meeting between US President Donald Trump and Ukrainian counterpart Volodymyr Zelensky ended with little progress.That surge followed Friday’s similar-sized rally on optimism for a breakthrough to end the nearly four-year conflict.An end to the war could see sanctions on Russian oil removed, which would see a huge fresh supply hit the market.Bitcoin, which has tumbled since spiking above $126,000 in October, was stabilising just below $90,000 after a shaky end to the year.- Key figures at around 0815 GMT – Tokyo – Nikkei 225: DOWN 0.4 percent at 50,339.48 (close) Hong Kong – Hang Seng Index: UP 0.9 percent at 25,854.60 (close) Shanghai – Composite: FLAT at 3,965.12 (close)London – FTSE 100: UP 0.1 percent at 9,878.94 Euro/dollar: UP at $1.1768 from $1.1766 on MondayPound/dollar: DOWN at $1.3503 from $1.3504Dollar/yen: DOWN at 156.00 yen from 156.06 yen Euro/pound: UP at 87.15 pence from 87.00 pence West Texas Intermediate: FLAT at $58.07 per barrelBrent North Sea Crude: FLAT at $61.92 per barrelNew York – Dow: DOWN 0.5 percent at 48,461.93 (close)

Precious metals extended losses Tuesday on profit-taking after hitting recent records, while equities fluctuated in quiet trade as investors wound down ahead of the New Year break.Traders were taking it easy in the last few days of 2025 following a stellar 12 months that have seen tech firms push several stock markets to all-time highs, while bitcoin, gold and silver have also enjoyed multiple peaks.Minutes from the Federal Reserve’s most recent policy meeting — at which it cut interest rates a third straight time — are due to be released later in the day and will be scanned for an idea about whether a fourth can be expected in January.The US central bank’s monetary easing in the back end of this year has been a key driver of the markets’ rally, compounding a surge in the tech sector on the back of the vast amounts of cash pumped into all things AI.It has also helped offset recent worries about a possible tech bubble and warnings that traders might not see a return on their investments in artificial intelligence for some time.Still, Asian markets have enjoyed a healthy year, with Seoul’s Kospi piling on more than 75 percent and Tokyo’s Nikkei 225 more than 25 percent — both having hit records earlier in the year.Still, both edged down Tuesday, with Shanghai, Sydney and Taipei also lower. Hong Kong, Singapore, Wellington and Jakarta rose. The mixed performance followed losses for all three main indexes on Wall Street.The big moves of late have been seen in precious metals, with gold hitting a record just shy of $4,550. Silver, meanwhile, topped out at $84 after soaring around 150 percent this year.Investors have been piling into the commodities on bets for more US rate cuts, a weaker dollar and geopolitical tensions.Silver has also been boosted by increased central bank purchases and supply concerns.However, both metals have pulled back sharply this week on profit-taking, with gold now around $4,340 and silver at $73.50.Oil dipped, having jumped more than two percent Monday when investors rowed back bets on peace talks to end Russia’s war with Ukraine as a meeting between US President Donald Trump and Ukrainian counterpart Volodymyr Zelensky ended with little progress.That surge followed Friday’s similar-sized rally on optimism for a breakthrough to end the nearly four-year conflict.An end to the war could see sanctions on Russian oil removed, which would see a huge fresh supply hit the market.Bitcoin, which has tumbled since spiking above $126,000 in October, was stabilising just below $90,000 after a shaky end to the year.- Key figures at around 0230 GMT – Tokyo – Nikkei 225: DOWN 0.1 percent at 50,465.35 Hong Kong – Hang Seng Index: UP 0.2 percent at 25,675.05Shanghai – Composite: DOWN 0.3 percent at 3,954.87Euro/dollar: UP at $1.1770 from $1.1766 on MondayPound/dollar: DOWN at $1.3499 from $1.3504Dollar/yen: UP at 156.30 yen from 156.06 yen Euro/pound: UP at 87.20 pence from 87.00 pence West Texas Intermediate: DOWN 0.3 percent at $57.91 per barrelBrent North Sea Crude: DOWN 0.3 percent at $61.75 per barrelNew York – Dow: DOWN 0.5 percent at 48,461.93 (close)London – FTSE 100: FLAT at 9,866.53 (close)