Thanksgiving Day News Roundup - Newsquawk Asia-Pac Market Open

US markets were closed for Thanksgiving Day.
OPEC+ is expected to hold oil output steady for Q1 2026 at its meeting on Sunday, while it is likely to agree on a mechanism to assess members’ maximum production capacity.
Ukrainian President Zelensky said Ukrainian and US delegations will meet this week to work out a formula for peace and security discussed in the Geneva talks. In relevant news, Russian President Putin said regarding President Trump's Ukraine peace plan that there are no final versions, and they see that the US is taking into account Russia's position, but need to discuss some things.
Looking ahead, highlights include South Korean & Japanese Industrial Production & Retail Sales, Tokyo CPI, Australian Private Sector Credit, Supply from Australia & Japan.

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LOOKING AHEAD

Highlights include South Korean & Japanese Industrial Production & Retail Sales, Tokyo CPI, Australian Private Sector Credit, Supply from Australia & Japan.
Click for the Newsquawk Week Ahead.

US TRADE

US markets were closed for Thanksgiving Day.

TARIFFS/TRADE

EU Trade Commissioner Sefcovic said he spoke to China's Commerce Minister Wentao on export controls.
Nexperia issued an open letter to the leadership of Nexperia’s entities in China and noted that it continues to seek constructive collaboration with its entities in China, and has been requesting an open dialogue to find a path forward. Furthermore, it urged the leadership of Co.’s entities in China to take immediate steps towards structured negotiations to address the restoration of the supply chain, but added that it did not receive any meaningful response.

COMMODITIES

OPEC+ is expected to hold oil output steady for Q1 2026 at its meeting on Sunday, while it is likely to agree on a mechanism to assess members’ maximum production capacity.
Canadian PM Carney said a new pipeline to ship oil to Asia is a priority, while Carney and the Alberta Premier agreed to eliminate the federal emissions cap on the oil and gas sector and strengthen industrial carbon pricing and carbon storage.

GEOPOLITICAL

RUSSIA-UKRAINE

Ukrainian President Zelensky said Ukrainian and US delegations will meet this week to work out a formula for peace and security discussed in the Geneva talks.
Ukrainian President Zelensky's top aide said work of Ukrainian and US delegations on a peace plan is to continue at the end of this week, while he also stated that as long as Zelensky is President, no one should count on them giving up territory.
Ukrainian Foreign Minister said "negotiating teams" are to meet in the near future and Ukraine is to focus on specific steps in the peace proposal.
Russian President Putin said regarding President Trump's Ukraine peace plan that there are no final versions, and they see that the US is taking into account Russia's position, but need to discuss some things. Putin also commented that Russia does not plan to attack Europe and that this is ridiculous, while he agrees that Trump's Ukraine peace plan can be used as a basis for future agreements. Furthermore, he said Russia is ready for serious discussions and expects a US delegation next week.
Russia’s Deputy Foreign Minister Grushko said on the EU call to curb Russian military spending that no power can limit Russia's military budget, while Russian Foreign Ministry's Zakharova said NATO attempts to bring Ukraine into its structure are a threat to Russia and that Ukrainian membership of NATO is unacceptable.
German Chancellor Merz said even after a peace agreement, Ukraine will need strong armed forces and security guarantees, while he added that European security interests must be guaranteed, and it is now up to Russia to come to the negotiating table.

OTHER

Russian Foreign Ministry said regarding Japanese plans to deploy missiles on Yonaguni, that on orders from the US, Japan is pumping these islands with weapons and they reserve the right to react toughly to Japan's plans in this area.
Chinese Defence Ministry said Japan will have to pay a "painful price" over any attempts to interfere in Taiwan.
Japan's Chief Cabinet Secretary Kihara said it is false that US President Trump advised Japanese PM Takaichi not to provoke China over Taiwan.

ASIA-PAC

NOTABLE HEADLINES

Chinese Foreign Minister Wang hopes that France promotes a healthy development of China-EU relations along the right track, and hopes France will encourage the EU to pursue a positive and rational policy towards China. Furthermore, he hopes France will firmly abide by the 'One-China' principles and seeks France's support against the Japanese PM's comments on Taiwan, according to Xinhua.
China’s market regulator held a meeting on fair competition, while participants in the meeting included BMW (BMW GY), Samsung (005930 KS) and Johnson & Johnson (JNJ).
China plans to improve the medical insurance payment mechanism and distribute high-quality medical resources more evenly.
Japanese PM Takaichi said the aim is to reflect inflation appropriately in the FY26 budget and that necessary budget items should be included in the initial budget.

EU/UK