International News 18 December 2025
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China’s MetaX Shares Soar Nearly 600% in Shanghai Debut Amid AI Chip Push
Shares of MetaX Integrated Circuits, a Chinese artificial intelligence (AI) chipmaker, surged nearly 600% in their trading debut on the Shanghai Stock Exchange on Wednesday (Dec 17, 2025). The stock opened at around 700 yuan per share, far above its IPO price of 104.66 yuan, reflecting strong investor appetite as China accelerates listings of domestic AI chip companies to reduce reliance on U.S. giants such as Nvidia and AMD. Founded by former AMD executive Chen Weiliang, MetaX raised about $600 million in its IPO last week, following the strong debut of larger rival Moore Threads earlier this month. The wave of listings is backed by government support to bolster China’s domestic semiconductor capabilities amid intensifying U.S.–China tech rivalry. However, concerns are emerging over increasingly stretched valuations. According to Frost & Sullivan, China’s AI chip sales are projected to surge to $189 billion by 2029, up sharply from an estimated $54 billion in 2026, underscoring the strategic importance—and growing investor interest—in the sector.
Silver Hits Record High Above $65 as Fed Rate-Cut Bets Lift Precious Metals
Spot silver extended its rally and broke above $65 per troy ounce on Wednesday (Dec 17, 2025), marking an all-time high, supported by strong industrial and investment demand alongside increasingly tight supply conditions. The surge in silver was mirrored by gains in gold, as weaker-than-expected U.S. labor data reinforced expectations of further Federal Reserve rate cuts next year, weighing on the U.S. dollar and Treasury yields. Spot gold rose 0.4% to $4,318.37 per ounce, while U.S. gold futures gained 0.3% to $4,347.10. The U.S. unemployment rate climbed to 4.6% in November, above market expectations of 4.4%, adding to the dovish outlook after the Fed’s third 25-basis-point rate cut this year. A softer dollar—near a more than two-month low—and falling 10-year Treasury yields further boosted precious metals. Investors are now awaiting key U.S. inflation data, including November CPI on Thursday and the PCE index on Friday, which will help shape expectations for monetary policy in 2026.
Singapore’s Non-Oil Exports Surge in November on Pharma and Electronics Strength
Singapore’s non-oil domestic exports (NODX) rose 11.6% year-on-year in November, significantly beating market expectations of a 7.0% increase, according to government data released on December 17. The strong performance was driven primarily by a sharp rise in pharmaceutical exports, with additional support from electronics shipments, including integrated circuits and personal computers. The November outturn followed an upwardly revised 21.7% surge in October, underscoring resilient external demand. By destination, exports to the United States, the European Union, and Taiwan recorded notable gains, while shipments to Thailand and Japan fell sharply. Reflecting the stronger momentum, Enterprise Singapore narrowed its 2025 NODX growth forecast to around 2.5%, from a previous range of 1%–3%, citing robust AI-related demand and elevated gold prices supporting fourth-quarter exports. Meanwhile, Singapore’s Ministry of Trade and Industry maintained its projection for GDP growth at about 4.0% in 2025, pointing to a solid overall economic outlook.
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