Key Takeaways
- A powerful 8.7 magnitude earthquake off Russia has triggered widespread tsunami warnings and watches across the Pacific, including Hawaii, Alaska, British Columbia, and the U.S. Pacific Coast, with estimated arrival times for California.
- Singapore's preliminary unemployment rate for June was reported at 2.1%.
- Indonesia's trade deal with the U.S. remains far from finalized, despite a framework agreement on tariffs.
- CATL's (300750.SZ) Hong Kong-listed shares have become a favored short target amidst their rally, even as borrowing costs for shorts jump.
- Japan has reported no disruptions at its nuclear facilities and no casualties or damage following the Kamchatka earthquake.
A significant 8.7 magnitude earthquake off Russia has prompted widespread tsunami warnings and watches across the Pacific Rim early Wednesday. Hawaii is currently evacuating coastal areas, with residents urged to move to higher ground as a tsunami warning remains in effect. A tsunami watch has also been issued for Alaska and the Pacific Coast of the United States, including British Columbia and the Alaska Peninsula.
Estimated tsunami arrival times for California coastal areas include Santa Barbara at 12:50 a.m., Los Angeles Harbor at 1:05 a.m., Newport Beach at 1:10 a.m., and Oceanside and La Jolla both at 1:15 a.m. Japan has confirmed no irregularities at its nuclear facilities and no casualties or damage reported so far following the Kamchatka earthquake.
In economic news, Singapore's preliminary unemployment rate for June stands at 2.1%. This data provides a snapshot of the labor market health in the Southeast Asian financial hub.
Meanwhile, Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto, confirmed that a trade deal with the U.S. remains far from finalized. Although a framework deal concerning tariffs has been reached, the agreement is not yet final. Separately, Malaysia's Finance Ministry announced that the government will not proceed with the implementation of the high-value goods tax.
In corporate developments, CATL’s (300750.SZ) Hong Kong-listed shares have become a favored short target. This trend persists despite a rally in the stock and a jump in borrowing costs for those looking to short the battery giant.
On a different note, Japan's Finance Ministry reported four cases of illegal fentanyl imports between 2010 and 2018, but also confirmed that no fentanyl has been seized at the border over the past six years, through 2024.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.