The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0230 GMT - China Sunsine Chemical's sales volumes are likely to sustain an uptrend, UOB Kay Hian analysts say in a research report, as they raise its target price for the stock to S$0.63 from S$0.58, maintaining a buy rating. The rubber chemicals producer's sales in China are expected to improve, supported by the country's targeted stimulus measures to aid consumption recovery, the analysts say. Also, according to Tireworld, China's tire industry data service provider, the nation's rubber tire exports grew 3.3% on year in January-February 2025, which suggests continued growth in international sales volume for the company, as China Sunsine Chemical's products are used for tire production, they say. Shares are 0.9% higher at S$0.545. (ronnie.harui@wsj.com)
1912 GMT - Chemours, the producer of fluorine-based refrigerants, specialty plastics and titanium dioxide pigments, is entering a more favorable environment, according to Mizuho in a research report. Analysts say one major tailwind is that industry stockpiling of the banned refrigerant Freon is normalizing amid the larger shift to next-gen refrigerants, of which Chemours is one of only two producers. The analysts also say that litigation surrounding PFAS, also known as forever chemicals, seems to be moving in the right direction. They believe a potential settlement in advance of the New Jersey PFAS trial, anticipated in spring/summer, would likely help limit the scope of Chemours' potential liability. Mizuho upgrades Chemours to outperform from neutral. Chemours is up 2.6% to $14.19. (sarina.isaacs@wsj.com)
1343 GMT - It looks like a surge in gold imports is still weighing on the U.S.'s trade deficit. In January, imports of the precious metal related to financial trading lifted the goods trade deficit to the highest level ever. The goods deficit declined about 5% last month, but gold still looks to be a big part of why the deficit is so high. Imports in the industrial-supplies category, which includes gold, remain elevated. "A big share of the overall deterioration in recent months reflects a boom in imports of gold in particular," Pantheon Macro economists write. "This matters because most trade in gold is excluded from the national accounts, given that it mostly reflects the transfer of existing financial assets rather than current economic activity." So it won't count against 1Q GDP. (matt.grossman@wsj.com, @mattgrossman)
1129 GMT - Indosuez Wealth Management maintains a cautious approach to duration, keeping a slight underweight on both U.S. and European government bonds. The wealth manager anticipates a slowdown in U.S. economic activity in 2025, without giving into pessimism, "as fears of recession seem exaggerated," it says in a note. It still expects two rate cuts by the Federal Reserve this year. The "nerve point" for markets has been tariffs policy. U.S. equity markets have largely moved past the "Trump Trade" and the optimistic expectations around Trump's second term, it says. Indosuez remains positive on the dollar, viewing it as a hedging asset in its portfolio and continues to favor gold. The 10-year Treasury yield is up 3.5 basis points at 4.371%, according to Tradeweb. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
March 28, 2025 04:20 ET (08:20 GMT)
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