Japanese benchmark down 1.43%
Tokyo Electric Power Co jumped almost 10 percent. Japan Exchange Group rallied 5.5 percent. Fujikura and Furukawa Electric, both gained close to 4 percent. Chiba Bank added 2.9 percent in the day's trading.
DeNA Co, Otsuka Holdings, Fast Retailing, Sumitomo Dainippon Pharma, and Suzuki Motor Corp, all declined more than 4 percent.
The manufacturing sector in Japan moved up into expansion territory in June, the latest survey from Jibun Bank revealed on Tuesday with a manufacturing PMI score of 50.1.
That's up from 49.4 in May and it moves up above the boom-or-bust line of 50 that separates expansion from contraction.
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Business Standard
an hour ago
- Business Standard
Quad launches critical minerals initiative to counter China's dominance
The decision on rolling out the "Quad Critical Minerals Initiative" was announced after a meeting of foreign ministers of the member nations of the grouping in the US capital on Tuesday Press Trust of India Washington The Quad grouping has launched an ambitious initiative to ensure a stable supply of critical minerals under a broader goal to strengthen economic security amid concerns over China's coercive tactics, including price manipulation and restrictions on the export of the vital resources. The decision on rolling out the "Quad Critical Minerals Initiative" was announced after a meeting of foreign ministers of the member nations of the grouping in the US capital on Tuesday. Critical minerals such as lithium, nickel and graphite are considered vital for high-end technology products, including electric vehicles (EVs), drones, and battery storage. China has been a dominant player in the critical minerals supply chain globally. The meeting was attended by External Affairs Minister S Jaishankar, US Secretary of State Marco Rubio, Australian Foreign Minister Penny Wong and her Japanese counterpart Takeshi Iwaya. In a joint statement, the Quad foreign ministers expressed "deep concern" over the "abrupt constriction and future reliability" of key supply chains, specifically for critical minerals, remarks which are seen as directed at China. The ministers unveiled a broader agenda covering four areas: maritime and transnational security, economic prosperity and security, critical and emerging technologies, and humanitarian assistance and emergency response. The Quad said it is committed to advance a free and open Indo-Pacific and is aiming to strengthen energy security across the region besides promoting resilient supply chains and quality infrastructure projects that are transparent and secure. It was also announced that the grouping will formally launch the "Quad Ports of the Future Partnership" by hosting a transportation and logistics conference with Indo-Pacific partners in Mumbai in October 2025. A readout of the foreign ministerial meeting said the new initiative on critical minerals is an "ambitious expansion" of the Quad partnership to strengthen economic security and collective resilience by collaborating on securing and diversifying critical mineral supply chains. "Today, Quad Foreign Ministers are proud to announce the launch of the Quad Critical Minerals Initiative, an ambitious expansion of our partnership to strengthen economic security and collective resilience by collaborating on securing and diversifying critical mineral supply chains," it said. "This new flagship initiative, alongside the high-impact programmes and outcomes the Quad is realising, will enable our four countries to bring economic opportunity and prosperity to our people and the region," it said. In a joint statement, the Quad foreign ministers expressed "deep concern" over use of non-market policies and practices for critical minerals and mineral processing technology. "We underscore the importance of diversified and reliable global supply chains. Reliance on any one country for processing and refining critical minerals and derivative goods production exposes our industries to economic coercion, price manipulation, and supply chain disruptions, which further harms our economic and national security," they said. A fact-sheet unveiled at the end of the meeting said the Quad is expanding maritime law enforcement cooperation which will support efforts to curtail illicit maritime activity, including piracy, drug trafficking, infringements on border security, and illegal, unreported, and unregulated fishing. It also noted the launch of the first-ever "Quad-at-Sea Ship Observer Mission" this month. The initiative is aimed at strengthening interoperability and knowledge-sharing to address unlawful maritime activities across the Indo-Pacific. Later this month, the Quad will hold the second maritime legal dialogue to advance efforts to uphold maritime order, the document noted. It said the "Quad Critical Minerals Initiative" will strengthen cooperation on priorities such as securing and diversifying reliable supply chains, and electronic waste, critical minerals recovery and re-processing. "The initiative will expand the Quad's cooperation on supply chain resilience measures for critical minerals, and we look forward to coordinating with private sector partners to facilitate increased investments," it added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
India Today
4 hours ago
- India Today
Maritime law, minerals, resilience: Quad expands Indo-Pacific focus
In a significant move, the Quad grouping has launched an initiative to ensure the availability of critical minerals under a broader goal of strengthening economic security amid concerns over China's coercive tactics, including price manipulation in the decision on rolling out the "Quad Critical Minerals Initiative" was announced after a meeting of foreign ministers of the member nations of the grouping in the US capital on readout of the meeting said the new initiative is an "ambitious expansion" of the Quad partnership to strengthen economic security and collective resilience by collaborating on securing and diversifying critical mineral supply chains. The meeting was attended by External Affairs Minister S Jaishankar, US Secretary of State Marco Rubio, Australian Foreign Minister Penny Wong and her Japanese counterpart Takeshi Iwaya."This new flagship initiative, alongside the high-impact programmes and outcomes the Quad is realising, will enable our four countries to bring economic opportunity and prosperity to our people and the region," it a joint statement, the Quad foreign ministers expressed "deep concern" over the "abrupt constriction and future reliability" of key supply chains, specifically for critical minerals."This includes the use of non-market policies and practices for critical minerals, certain derivative products, and mineral processing technology," they said without directly mentioning underscore the importance of diversified and reliable global supply chains. Reliance on any one country for processing and refining critical minerals and derivative goods production exposes our industries to economic coercion, price manipulation, and supply chain disruptions, which further harm our economic and national security," they said.A fact-sheet unveiled at the end of the meeting said the Quad is expanding maritime law enforcement cooperation which will support efforts to curtail illicit maritime activity, including piracy, drug trafficking, infringements on border security, and illegal, unreported, and unregulated also noted the launch of the first-ever "Quad-at-Sea Ship Observer Mission" this initiative is aimed at strengthening interoperability and knowledge-sharing to address unlawful maritime activities across the this month, the Quad will hold the second maritime legal dialogue to advance efforts to uphold maritime order, the document said the "Quad Critical Minerals Initiative" will strengthen cooperation on priorities such as securing and diversifying reliable supply chains, and electronic waste, critical minerals recovery and re-processing."The Initiative will expand the Quad's cooperation on supply chain resilience measures for critical minerals, and we look forward to coordinating with private sector partners to facilitate increased investments," it added.- Ends
Time of India
4 hours ago
- Time of India
India's battery recycling sector offers lifeline to global EV players as China tightens mineral exports
As China's export restrictions on critical minerals jolt global supply chains, India's battery recycling industry could emerge as a key fallback for countries scrambling to secure rare earth elements used in electric vehicle (EV) motors. A Japanese delegation is scheduled to engage in dialogue with Indian battery recycling ecosystem players including Vedanta and Lohum this week, in what is being seen as a push to diversify away from China-dominated supply chains. The visit comes on the heels of China tightening export controls on essential rare earth elements — including neodymium, praseodymium, dysprosium and terbium — that are critical to high-performance permanent magnets used in EVs, smartphones, and defence applications. The restrictions have triggered alarm among global automakers, who now face the twin challenges of production delays and rising input costs. India and Japan are learned to have initiated discussions to chart a response, with supply chain resilience high on the agenda. These talks have culminated in the Battery and Critical Minerals Ecosystem Conference being held today at the Embassy of Japan in Delhi, where government officials, OEMs, financiers, and recycling firms from Japan, India, Australia and the US are participating. The Conference will host sessions focused on challenges in refining, recycling, and securing anchor off-takers, all key gaps in India's critical minerals and battery ecosystem. While India is scaling up lithium exploration and refining capabilities, experts say recycling offers a more immediate and scalable solution. Refining and processing capacity remains heavily concentrated in a few countries, posing significant technical and geopolitical risks to global EV and clean tech growth. The conference will also feature closed-door business-to-business (B2B) meetings between Indian recyclers, global OEMs, and financial institutions such as the Japan Bank for International Cooperation (JBIC), Tata Capital's Decarbonisation Fund, and the International Finance Corporation (IFC). The idea is to ensure financial backing and anchor customers for new entrants in India's recycling and refining space. Discussions will cover bankability, joint R&D, and long-term offtake agreements — all seen as prerequisites for breaking the dominance of traditional players in the battery and minerals sector. China's tightening grip has forced a rethink in the way global supply chains are structured, with recycling now viewed as a strategic lever — not just an environmental necessity. For India, it opens a window to position itself as a reliable, democratic alternative for critical mineral recovery.
