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Japan has no plans for new oil release from national reserves, official says
Reuters · 2026-10-05
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class="nav-dropdown-module__more-section-group__6-L2e nav-dropdown-module__has-children__Wpz3R"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/legal/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Legal</a></h2><ul class="nav-dropdown-module__subsections__ElxDL"><li><a data-testid="Body" href="/legal/government/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Government</a></li><li><a data-testid="Body" href="/legal/legalindustry/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Legal Industry</a></li><li><a data-testid="Body" href="/legal/litigation/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Litigation</a></li><li><a data-testid="Body" href="/legal/transactional/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Transactional</a></li><li><a data-testid="Body" href="/legal/us-supreme-court/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">US Supreme Court</a></li></ul></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e nav-dropdown-module__has-children__Wpz3R"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/commentary/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Commentary</a></h2><ul class="nav-dropdown-module__subsections__ElxDL"><li><a data-testid="Body" href="/commentary/breakingviews/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Breakingviews</a></li><li><a data-testid="Body" href="/commentary/reuters-open-interest/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">ROI: Reuters Open Interest</a></li></ul></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e nav-dropdown-module__has-children__Wpz3R"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/technology/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Technology</a></h2><ul class="nav-dropdown-module__subsections__ElxDL"><li><a data-testid="Body" href="/technology/artificial-intelligence/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Artificial Intelligence</a></li><li><a data-testid="Body" href="/technology/cybersecurity/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Cybersecurity</a></li><li><a data-testid="Body" href="/technology/space/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Space</a></li><li><a data-testid="Body" href="/technology/disrupted/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Disrupted</a></li></ul></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/investigations/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Investigations</a></h2></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e nav-dropdown-module__has-children__Wpz3R"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/sports/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Sports</a></h2><ul class="nav-dropdown-module__subsections__ElxDL"><li><a data-testid="Body" href="/sports/world-cup/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">World Cup</a></li><li><a data-testid="Body" href="/sports/athletics/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Athletics</a></li><li><a data-testid="Body" href="/sports/baseball/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Baseball</a></li><li><a data-testid="Body" href="/sports/basketball/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Basketball</a></li><li><a data-testid="Body" href="/sports/cricket/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Cricket</a></li><li><a data-testid="Body" href="/sports/cycling/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Cycling</a></li><li><a data-testid="Body" href="/sports/formula1/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Formula 1</a></li><li><a data-testid="Body" href="/sports/golf/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Golf</a></li><li><a data-testid="Body" href="/sports/nfl/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">NFL</a></li><li><a data-testid="Body" href="/sports/nhl/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">NHL</a></li><li><a data-testid="Body" href="/sports/soccer/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Soccer</a></li><li><a data-testid="Body" href="/sports/tennis/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Tennis</a></li></ul></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/science/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Science</a></h2></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e nav-dropdown-module__has-children__Wpz3R"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/lifestyle/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Lifestyle</a></h2><ul class="nav-dropdown-module__subsections__ElxDL"><li><a data-testid="Body" href="/lifestyle/culture-current/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Culture Current</a></li></ul></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/city-memo/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">City Memo</a></h2></section></div><div class="nav-dropdown-module__group-container__B7ZaS"><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e nav-dropdown-module__has-children__Wpz3R"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/graphics/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Graphics</a></h2><ul class="nav-dropdown-module__subsections__ElxDL"><li><a data-testid="Body" href="/chart-of-the-week/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Chart of the Week</a></li></ul></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/pictures/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Pictures</a></h2></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/wider-image/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Wider Image</a></h2></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e nav-dropdown-module__has-children__Wpz3R"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/podcasts/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Podcasts</a></h2><ul class="nav-dropdown-module__subsections__ElxDL"><li><a data-testid="Body" href="/podcasts/reuters-world-news/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Reuters World News</a></li><li><a data-testid="Body" href="/podcasts/reuters-morning-bid/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Reuters Morning Bid</a></li><li><a data-testid="Body" href="/podcasts/reuters-econ-world/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Reuters Econ World</a></li><li><a data-testid="Body" href="/podcasts/on-assignment/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">On Assignment</a></li><li><a data-testid="Body" href="/podcasts/viewsroom/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Viewsroom</a></li><li><a data-testid="Body" href="/podcasts/the-big-view/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">The Big View</a></li></ul></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/live/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Live</a></h2></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/fact-check/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Fact Check</a></h2></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/video/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Video</a></h2></section><section data-testid="MoreDropdown" class="nav-dropdown-module__more-section-group__6-L2e nav-dropdown-module__has-children__Wpz3R"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS"><a data-testid="Body" href="/media-center/" class="text-module__text__0GDob text-module__graphite__fZRmg text-module__medium__2Rl30 text-module__body__9d61E body-module__base__o--Cl body-module__body_alt__0ewNU nav-dropdown-module__section-link__Mvj6r">Media Center</a></h2><ul class="nav-dropdown-module__subsections__ElxDL"><li><a data-testid="Body" href="/media-center/announcements/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Announcements</a></li><li><a data-testid="Body" href="/media-center/awards/" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf nav-dropdown-module__subsection-link__T9-bB">Awards</a></li><li><a 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sizes="(min-width: 1024px) 560px, (min-width: 1440px) 700px, 100vw" width="3874" height="2440" alt="An aerial view shows Shibushi National Petroleum Stockpiling Base in Kagoshima prefecture, Japan"/></div></div><div data-testid="Body" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__ultra_small__6-vhY body-module__full_width__kCIGb body-module__ultra_small_body__WelUC primary-image-module__caption__BFvVU"><span>An aerial view shows Shibushi National Petroleum Stockpiling Base in Kagoshima prefecture, Japan January 18, 2019, in this photo taken by Kyodo. Mandatory credit Kyodo/via REUTERS <a data-testid="Link" target="_blank" referrerPolicy="no-referrer-when-downgrade" href="https://www.reutersconnect.com/item/an-aerial-view-shows-shibushi-national-petroleum-stockpiling-base-in-kagoshima-prefecture-japan/dGFnOnJldXRlcnMuY29tLDIwMjE6bmV3c21sX1JDMlAwUjlTNzg1NA%3D%3D/?utm_medium=rcom-article-media&utm_campaign=rcom-rcp-lead" rel="noopener" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76 collapsible-caption-module__license__CPQvV">Purchase Licensing<span><span class="link-module__suffix__ObiNY"> Rights</span><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 32 32" aria-hidden="true" focusable="false" role="presentation" data-testid="NewTabSymbol" class="link-module__new-tab-symbol__d53s7 link-module__move-left__CCZH6 collapsible-caption-module__symbol__943UJ" fill="#666" width="0" height="0"><path fill="currentColor" d="M15 6c.6 0 1 .4 1 1s-.4 1-1 1H9c-.6 0-1 .4-1 1v14a1.1 1.1 0 0 0 .2.6c.1.2.4.4.8.4h14c.6 0 1-.4 1-1v-6c0-.6.4-1 1-1s1 .4 1 1v6a3 3 0 0 1-3 3H9a3 3 0 0 1-2.2-.9A3 3 0 0 1 6 23V9a3 3 0 0 1 3-3Zm10 0 .4.1.5.5.1.4v6c0 .6-.4 1-1 1s-1-.4-1-1V9.4l-5.3 5.3a1 1 0 0 1-.7.3 1 1 0 0 1-.7-.3 1 1 0 0 1 0-1.4L22.6 8H19c-.6 0-1-.4-1-1s.4-1 1-1Z"></path></svg><span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">, opens new tab</span></span></a></span></div></figure></div><div class="article-body-module__content__bnXL1"><div data-testid="paragraph-0" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">TOKYO, Oct 5 (Reuters) - Japanese Chief Cabinet Secretary Minoru Kihara said on Monday there were no plans for a fresh release of crude oil from national reserves as the country had already released supplies.</div><div data-testid="paragraph-1" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">Kihara's comments come even as the Group of Seven countries, of which Japan is a member, <a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/business/energy/europe-discussing-plan-diesel-stock-releases-after-us-pressure-source-says-2026-10-02/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC">agreed</a> on Friday to release 100 million barrels of diesel and crude oil from emergency reserves and pledged to refrain from energy export restrictions. The announcement followed <a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/business/energy/us-tells-france-germany-release-diesel-stocks-or-face-us-export-ban-sources-say-2026-10-01/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC">pressure</a> from US President Donald Trump on the European Union to draw down emergency diesel inventories.</div><p data-testid="promo-box" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body-module__promo-box__hVl8h"> <!-- -->Sign up<!-- --> <!-- --> <a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="undefined?location=article-paragraph&redirectUrl=%2Fbusiness%2Fenergy%2Fjapan-has-no-plans-new-oil-release-national-reserves-official-says-2026-10-05%2F" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC">here.</a></p><div data-testid="element" class="article-body-module__element__5eCce"></div><div data-testid="element" class="article-body-module__element__5eCce"></div><div data-testid="paragraph-2" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">It was uncertain how much of the new release would come from what remains from the 400 million barrels of oil that the 32 countries that are members of the International Energy Agency agreed to release in March to mitigate disruptions from the US-Israeli war on Iran.</div><div data-testid="paragraph-3" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">IEA Executive Director Fatih Birol said last week that members had released about two-thirds of the 400-million-barrel agreement.</div><div data-testid="element" class="article-body-module__element__5eCce"></div><div data-testid="paragraph-4" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">In March, Japan said it would release about 80 million barrels of oil from its reserves as part of the coordinated agreement. Japan also conducted a second round of national crude oil stockpile releases in May.</div><div data-testid="paragraph-5" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">"Japan has been releasing oil from reserves for some time now and there are no plans for a further release at this stage," Kihara told a press conference.</div><div data-testid="paragraph-6" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">The G7 meeting came amid delays in the release of European strategic reserves and growing concerns over soaring diesel prices globally, with discussions focusing in particular on measures to address diesel prices in Europe, the US and elsewhere, Kihara 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data-testid="KickerText" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW">ANALYSIS</span></span><div data-testid="Title" class="title-module__title__Lr6MH story-card-module__area-headline__N6EZa"><a data-testid="TitleLink" referrerPolicy="no-referrer-when-downgrade" aria-label="French bond contagion fears are rattling the euro, includes video" href="/world/europe/french-bond-contagion-fears-are-rattling-euro-2026-10-05/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC"><span data-testid="TitleHeading" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS title-module__heading__ZrRzk">French bond contagion fears are rattling the euro</span></a></div><figure class=" image-container no-caption story-card-module__area-media__N2Hg6" data-testid="MediaImage"><a data-testid="MediaImageLink" aria-hidden="true" tabindex="-1" referrerPolicy="no-referrer-when-downgrade" href="/world/europe/french-bond-contagion-fears-are-rattling-euro-2026-10-05/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_default__-okuC image-module__container__dqGwP story-card-module__image-link__4wq06"><div data-testid="Image" class="image story-card-module__image__NNKq2"><div class="styles-module__image-container__E0mCm styles-module__cover__SgyOM styles-module__center_center__bzABO styles-module__apply-ratio__u0jXJ styles-module__transition__joucY" style="--aspect-ratio:1.5"></div><noscript><img src="https://www.reuters.com/resizer/v2/AAZ53ISZNBPS7KLBE3W2DW5MSE.jpg?auth=91c662a00684199b4d1eb9e04f6f0bbfaf0bfd3434f8983fb7e955df888ac90b&width=1200&quality=80" alt="People shop at a local market in Paris" /></noscript></div><div data-testid="MediaImageMediaSymbol" class="image-module__media__IKLV9 media-module__symbol__O-kyE media-module__corner__lBxSF"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 16 20" aria-hidden="true" focusable="false" role="presentation" aria-labelledby="react-aria-_R_15i5a6b5a_"><path d="m15.499 9.173-14-9.022C1.2-.05.8-.05.5.15c-.3.1-.5.4-.5.802v18.045c0 .4.2.701.5.902.2.1.3.1.5.1s.4-.1.5-.2l14-9.023c.3-.201.5-.502.5-.802 0-.301-.2-.702-.5-.803l-.001.001ZM2 17.193V2.757L13.2 9.975 2 17.193Z"></path></svg></div></a></figure></div></li><li class="read-next-v2-module__item__F8aJ9" inert=""><div class="story-card-module__tpl-common__G5wYS story-card-module__tpl-full-media-on-top__ps3O2 story-card-module__transition-no-date-for-extra-wide-desktop__20m3z story-card-module__transition-no-date-for-desktop__b65V6 story-card-module__transition-no-date-for-tablet__2zqMx story-card-module__transition-media-on-right-for-mobile__ygju8 read-next-v2-module__story-card__Bus22" data-are-authors="true" data-has-multiple-authors="false" data-dir="ltr" data-testid="StoryCard" tabindex="-1"><time data-testid="DateLineText" dateTime="2026-10-05T17:03:09.789Z" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__light__ZYtNU text-module__ultra_small__6-vhY story-card-module__area-date__p9wlR"> ago</time><span data-testid="KickerLabel" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__light__ZYtNU text-module__extra_small__8Buss label-module__label__Sv2H2 label-module__kicker__jiI-y story-card-module__area-kicker__CYVuk"><a data-testid="KickerLink" referrerPolicy="no-referrer-when-downgrade" href="/business/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC">Business<span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">category</span></a></span><div data-testid="Title" class="title-module__title__Lr6MH story-card-module__area-headline__N6EZa"><a data-testid="TitleLink" referrerPolicy="no-referrer-when-downgrade" href="/business/us-services-sector-activity-slows-september-price-pressures-mount-2026-10-05/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC"><span data-testid="TitleHeading" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS title-module__heading__ZrRzk">US services sector cools in September, price pressures building</span></a></div><figure class=" image-container no-caption story-card-module__area-media__N2Hg6" data-testid="MediaImage"><a data-testid="MediaImageLink" aria-hidden="true" tabindex="-1" referrerPolicy="no-referrer-when-downgrade" href="/business/us-services-sector-activity-slows-september-price-pressures-mount-2026-10-05/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_default__-okuC image-module__container__dqGwP story-card-module__image-link__4wq06"><div data-testid="Image" class="image story-card-module__image__NNKq2"><div class="styles-module__image-container__E0mCm styles-module__cover__SgyOM styles-module__center_center__bzABO styles-module__apply-ratio__u0jXJ styles-module__transition__joucY" style="--aspect-ratio:1.5"></div><noscript><img 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text-module__medium-grey__yZtlg text-module__light__ZYtNU text-module__ultra_small__6-vhY story-card-module__area-date__p9wlR"> ago</time><div data-testid="Title" class="title-module__title__Lr6MH story-card-module__area-headline__N6EZa"><a data-testid="TitleLink" referrerPolicy="no-referrer-when-downgrade" aria-label="Euro drops to 17-month low on France debt concerns, includes video" href="/world/asia-pacific/dollar-holds-firm-french-fiscal-woes-keep-euro-back-foot-2026-10-05/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC"><span data-testid="TitleHeading" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS title-module__heading__ZrRzk">Euro drops to 17-month low on France debt concerns</span></a></div><figure class=" image-container no-caption story-card-module__area-media__N2Hg6" data-testid="MediaImage"><a data-testid="MediaImageLink" aria-hidden="true" tabindex="-1" referrerPolicy="no-referrer-when-downgrade" href="/world/asia-pacific/dollar-holds-firm-french-fiscal-woes-keep-euro-back-foot-2026-10-05/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_default__-okuC image-module__container__dqGwP story-card-module__image-link__4wq06"><div data-testid="Image" class="image story-card-module__image__NNKq2"><div class="styles-module__image-container__E0mCm styles-module__cover__SgyOM styles-module__center_center__bzABO styles-module__apply-ratio__u0jXJ styles-module__transition__joucY" style="--aspect-ratio:1.5"></div><noscript><img src="https://www.reuters.com/resizer/v2/6VJCSPQEUJKPBIIQCIGOFOG4BI.jpg?auth=ff14fa8b763622a1c4c1ac39f90a37c2060fff95963e7d0b6170dd73cad3d6a4&width=1200&quality=80" alt="Illustration shows U.S. dollar and Euro banknotes" /></noscript></div><div data-testid="MediaImageMediaSymbol" class="image-module__media__IKLV9 media-module__symbol__O-kyE media-module__corner__lBxSF"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 16 20" aria-hidden="true" focusable="false" role="presentation" aria-labelledby="react-aria-_R_ippa6b5a_"><path d="m15.499 9.173-14-9.022C1.2-.05.8-.05.5.15c-.3.1-.5.4-.5.802v18.045c0 .4.2.701.5.902.2.1.3.1.5.1s.4-.1.5-.2l14-9.023c.3-.201.5-.502.5-.802 0-.301-.2-.702-.5-.803l-.001.001ZM2 17.193V2.757L13.2 9.975 2 17.193Z"></path></svg></div></a></figure></div></li><li class="read-next-v2-module__item__F8aJ9" inert=""><div class="story-card-module__tpl-common__G5wYS story-card-module__tpl-full-media-on-top__ps3O2 story-card-module__transition-no-date-for-extra-wide-desktop__20m3z story-card-module__transition-no-date-for-desktop__b65V6 story-card-module__transition-no-date-for-tablet__2zqMx story-card-module__transition-media-on-right-for-mobile__ygju8 read-next-v2-module__story-card__Bus22" data-are-authors="true" data-has-multiple-authors="false" data-dir="ltr" data-testid="StoryCard" tabindex="-1"><time data-testid="DateLineText" dateTime="2026-10-05T14:47:43.527Z" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__light__ZYtNU text-module__ultra_small__6-vhY story-card-module__area-date__p9wlR"> ago</time><span data-testid="KickerLabel" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__light__ZYtNU text-module__extra_small__8Buss label-module__label__Sv2H2 label-module__kicker__jiI-y story-card-module__area-kicker__CYVuk"><a data-testid="KickerLink" referrerPolicy="no-referrer-when-downgrade" href="/business/" 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veteran James Dibbo as CFO</a></h3><span data-testid="Label" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__light__ZYtNU text-module__default__R2Ckt label-module__label__Sv2H2 kicker_hero media-story-card-module__section__PyVDc"><a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="/business/retail-consumer/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC">Retail & Consumer<span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">category</span></a> · <time dateTime="2026-10-05T21:21:41.686Z">October 5, 2026 · 9:21 PM UTC</time> · ago</span><p data-testid="Body" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__large__03GSP body-module__base__o--Cl body-module__large_body__NQgnj media-story-card-module__description__DzXN2">Pinterest said on Monday it has appointed Amazon executive James Dibbo as its chief financial officer, effective October 26.</p></div></div></li><li class="story-collection-module__list-item__nvJUz story-collection-module__story__A3dpi story-collection-module__default__k3Xt2 story-collection-module__with-spacing__OhP-U" id="3RF5LQAUIRKLLOV7RADA67VJB4" data-testid="one_hero_and_two_columns"><div data-testid="MediaStoryCard" class="media-story-card-module__hub__y3KsD story-card"><div class="media-story-card-module__placement-container__1ZSB1"><a href="https://www.reuters.com/business/retail-consumer/loreal-taps-advisers-explore-unloading-chemical-related-liabilities-wsj-reports-2026-10-05/" aria-hidden="true" tabindex="-1" referrerPolicy="no-referrer-when-downgrade"><div class="media-story-card-module__image-container__fJn9a"><div data-testid="Image" class="image"><div 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link-group-module__label__mDGn2">Latest</h3><ul class="link-group-module__list__yrOzI link-group-module__vertical__vGvtx"><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Home</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/sitemap/authors/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Authors</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/sitemap/topics/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Topic Sitemap</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/archive/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Archive</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/sitemap/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Article Sitemap</span></a></li></ul></section><section data-testid="LinkGroup" class="site-footer-module__link-group__Hxt4R"><h3 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__light__ZYtNU text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6_light__klgho link-group-module__label__mDGn2">Browse</h3><ul class="link-group-module__list__yrOzI link-group-module__vertical__vGvtx"><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/world/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">World</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/business/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Business</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/markets/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Markets</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/sustainability/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Sustainability</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/legal/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Legal</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/breakingviews/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Breakingviews</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/technology/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Technology</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/investigations/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Investigations</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/sports/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Sports</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/science/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Science</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/lifestyle/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Lifestyle</span></a></li></ul></section><section data-testid="LinkGroup" class="site-footer-module__link-group__Hxt4R site-footer-module__hidden-mobile__5cjU9"><h3 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__light__ZYtNU text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6_light__klgho link-group-module__label__mDGn2">Media</h3><ul class="link-group-module__list__yrOzI link-group-module__vertical__vGvtx"><li class="link-group-module__item__Za3t6"><div data-testid="Media" class="link-group-module__symbol__vLvQd media-module__symbol__O-kyE media-module__none__3jUM3"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 16 11" aria-hidden="true" focusable="false" role="presentation" 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Japan also conducted a second round of national crude oil stockpile releases in May.","type":"paragraph"},{"content":"\"Japan has been releasing oil from reserves for some time now and there are no plans for a further release at this stage,\" Kihara told a press conference.","type":"paragraph"},{"content":"The G7 meeting came amid delays in the release of European strategic reserves and growing concerns over soaring diesel prices globally, with discussions focusing in particular on measures to address diesel prices in Europe, the US and elsewhere, Kihara said.","type":"paragraph"}],"article_header":{"label":"Energy","url":"/business/energy/","sub_topic_metadata":[{"name":"US states take steps to curb diesel and gasoline 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Yeah, Peter, we think that they will continue to rise because we're seeing great guidance going forward on their sales and their revenue numbers. And that's just because the amount of data in the different pathways that need to be secured is growing every day, whether that's AI agents, more people using AI in their businesses or corporations, and governments as well, just increasing AI spending. So as AI rises, so does the business opportunity for cybersecurity stocks. Well AI is evolving faster than regulation, so is the cyber security industry actually keeping pace or investors kidding themselves that they can? Well, it's definitely one of the challenges for cybersecurity because it is an arms race between the attackers and the protectors. And the best cybersecurity firms are going to be incorporating AI in strategic partnerships to get ahead of the hackers. No doubt, though, hackers will be winning in many cases because of the increased abilities AI gives them. So this is going to be an ongoing hot war going forward for many years to come. Well the tailwinds are obvious, but let's flip the script. But what happens if AI capex slows or sophisticated AI attacks become less of a headline? How vulnerable are these stocks to a reversal in the narrative? Well, the interesting part about these stocks is they really have kind of two different engines that are helping them grow. On one side, it is AI spending and just more things happening on the digital world. The other side, though, is there's a certain amount of defensiveness in spending on cybersecurity that's always going to be there. Governments, corporations and individuals just can't afford to cut back on cybersecurity spending. So we think for a growth sector, it has a very unique amount of defensiveness, which I think investors can appreciate when they're just looking at many of these traditional growth areas that don't have much defensiveness and can be cyclical at times. Well, the model companies are creating the tech behind the new threats, but they may also be best placed to defend against them. So could the AI companies themselves displace traditional cybersecurity vendors? It is a threat to traditional cybersecurity companies that AI could replace them. We think it's more likely that there could be increased mergers and acquisition activity in this space because there are some best in class cybersecurity solutions that are already using AI as a vendor to become more automated. So we think it's more likely that this increases the demand for cybersecurity in terms of mergers and acquisitions going forward, which could also be another growth catalyst for the space. Still though, Christian, most attacks still centre on human vulnerabilities, but as autonomous AI agents become more common, has the composition of your fun changed? Will you continue to stick with the same names Yeah, we continue to really get more concentrated in the cybersecurity ETF hack. We started out with more than 60 different holdings. Many years ago, Fund is over 10 years old. Today, it's roughly around 25 holdings. There's more pure play names than ever before. And within those pure play areas, there's companies that lean towards kind of the future and incorporating AI and their solutions. We're trying to focus on purity, and the market has certainly brought forward more companies that are purely focused on cybersecurity. So finally, Christian, Washington is looking to mobilise the private sector against foreign cyber adversaries. Does that risk pulling security firms deeper into international digital conflicts? Is government support now vital to the sector Yeah, government support is vital to the sector. There is a lot of state and non-state actors that are attacking infrastructure that is really nation-state oriented. So there's going to be a huge component of government spending in this sector. And I think it will only continue. There's nations that may not have, for example, nuclear weapons, But they have those versions of cybersecurity attacks on the way that are constantly testing and probing systems. And therefore, governments have to be on their toes, and that really benefits these private cybersecurity stocks. That was Christian Magoon from Amplify ETFs Don't forget, you can watch more videos on Reuters.com."},"published_time":"2026-09-29T14:56:02Z","updated_time":"2026-09-29T14:56:03Z","thumbnail":{"url":"https://ajo.prod.reuters.tv/api/v2/img/6abbd071e4b0142a92dbf608","caption":"Cybersecurity stocks are soaring as investors bet that the rise of cutting-edge AI will bring a new wave of threats and new demand for protection. 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","duration":314.66,"transcript_data":{"transcript":"Tesla is changing gears, but is it taking your portfolio in the right direction? Elon Musk once said ending America's federal EV tax credit would hurt Tesla short term, But benefit it in the long run. Recent US sales data suggests he may have been right. Tesla is regaining ground in the EV market, but as Musk shifts Tesla's focus towards AI. Autonomy and humanoid robots, the company is also moving away from its core auto business. So, should Tesla stick to cars? Well, let's ask Mike Khouw, strategist at YieldMax ETFs. So Mike, Tesla US sales are still down 16% this year, But the broader EV market is down 30%. So is Tesla actually regaining market share or legacy automakers just pulling back? Well, I think that those two things play together, don't they? So, you know, one of the things that we've certainly seen from the legacy U.S. automakers is that they really struggled to produce EVs at a profit, frankly. Now, they have made some adjustments in the United States. One of those adjustments that they made, which I think was a really good one, and I'm talking about the legacy automakers now, is adjusting to the same type of charging standard and port that Tesla uses. Because, of course, they maintain the supercharger network, which is the largest in the country. And that really affects how EV owners basically experience their vehicles. But even with that, they simply aren't profitable at the legacy automakers. And so I think they're basically seeding a lot of the EV market in North America to Tesla. Lets look at the geopolitical elements now, and Musk is set to attend the Trump-Xi summit this week. Now, China accounts for nearly $21 billion of Tesla's annual revenue. With a threat of Chinese EVs entering the US remains. So what would a positive outcome look like for Tesla? Yeah, this is a really interesting situation. Elon Musk himself has actually described the Chinese EV makers as largely the biggest threat. If you take a look at the prices for Chinese EVs in their local markets and in other markets where they are available, They are very, very competitive, and they're certainly much lower priced than Tesla's are. Now, Elon is not alone in potential concern about the release potentially of EVs, Chinese-made EVs, in North America. I think it's pretty safe to say that all of the U.S. automakers and, frankly, all of the automakers that are working in the U.S. market are concerned about that threat because it's a very formidable one. I don't think it's an immediate one, though. It is a rather interesting political dynamic because one of the reasons that we saw some pressure on Tesla shares from their sort of core constituency, if you will, has to do a little bit with his decision to align himself politically with the president. And I think that that did create some resistance in early adopters of EVs, which probably had a different political point of view. So it is an interesting thing. I think it's quite an important one, though, and not just for Tesla. I mean, it's important, I think, for the entire U.S. auto market. So let's look at Tesla's performance, And since SpaceX's IPO, its shares have fallen almost 9%. With the S&P 500 has gained nearly 3%. So Tesla has emerged as the riskier Elon Musk turnaround bet. So what's your strategy here? Buy the dip, no matter what. Well, we do own the stock. We have it in a couple of funds. We typically own the stock and we do sell options around it. It's a fairly volatile stock. It's certainly more volatile, higher beta than the market is more broadly. So, for us, one of the ways that we create a little bit of a tailwind... Reduce the basis is by selling some upside optionality against it. In our case, it's in the form of upside call spreads. And so as we've seen Tesla pull back, of course, because we have exposure to the stock as well. We've seen a bit of a pullback in our positions too, But not as much as the stock because of it. So we're trying to basically get some participation in the equity, call it 70% participation in the equity, but also get some participation in the elevated options premiums that inevitably surround stocks that are as story-driven as companies like Tesla are. So finally, Mike, Musk is again floating the idea of combining Tesla and SpaceX. So given how close the two companies already worked together, is the merger becoming inevitable? And would that change the investment case for Tesla? Well, I think certainly one of the investment, maybe the biggest investment case for Tesla has never really been the cars anyway. It doesn't price like any of the legacy automakers, and it would be very difficult to justify its valuation if that's how you were trying to do it. So I think there has always been, where Tesla is concerned, basically a data story, an AI story, a robotics story. And when you think about robotics and AI, and you think about X AI and Grok and things like that, it's hard to really see how these things don't fit together in a meaningful way. Now, whether or not the market is going to go along with a merger like that is another story. But it is an important component, certainly, of Tesla's valuation to understand that a big part of the driver of the company's success in the future is going to be AI, it's going to be robotics That was Mike Khouw from YieldMax ETFs, don't forget, you can watch more videos on Reuters.com"},"published_time":"2026-09-22T15:05:03Z","updated_time":"2026-09-22T15:05:04Z","thumbnail":{"url":"https://ajo.prod.reuters.tv/api/v2/img/6ab2984ce4b07fa3330d5bb7","caption":"Tesla is doubling down on robotics, AI and autonomy as the future of its business - but as it regains ground in the U.S. EV market, some investors are urging the company to refocus on its core auto business. Mike Khouw from YieldMax ETFs told Reuters that Tesla’s valuation is far removed from legacy automakers and difficult to justify on cars alone, making its future success increasingly dependent on new technology. ","type":"image","resizer_url":"https://ajo.prod.reuters.tv/api/v2/img/6ab2984ce4b07fa3330d5bb7"},"source":{"hls":"https://ajo.prod.reuters.tv/v3/playlist/788556/master.m3u8"},"channels":[{"id":"6ffc0233e09c26943b265ef3abd575b2d872818b","name":"Business","regions":["US"]},{"id":"HPUS","name":"RCOM Homepage US","regions":["US"]},{"id":"inside-etf","name":"Inside ETFs","regions":["US"]}],"advert_info":{"advert_params":[{"key":"adfriendly","value":true}],"advert_zone":"/4735792/reuters.com","sponsor_logo":{"sponsored":true,"ad_unit_path":"/4735792/reuters.com/video/insideetfs","mobile_ad_unit_path":"/4735792/app.reuters/video/insideetfs"}},"meta_data":[{"key":"link","value":"tag:reuters.com,2026:newsml_RW453422092026RP1:4"},{"key":"byline","value":"London, UK"},{"key":"hidden","value":"false"},{"key":"region","value":"Remote"},{"key":"dateline","value":"Reuters, Reuters, SEP 22"},{"key":"lmp-feed","value":"lp"},{"key":"copyright","value":"(c) 2026 Thomson Reuters, unless otherwise identified. Full statement available at https://www.thomsonreuters.com/en/policies/copyright.html"},{"key":"package-mood","value":"Neutral"},{"key":"package-notes","value":"Autonomy, China, Trump, Xi, BYD, Humanoids, Elon Musk, Tesla, Electric Vehicles, SpaceX, Roadster, Robotics, Autos, Cybercab, AI"},{"key":"package-format","value":"Other"},{"key":"publisher-name","value":"reuters.com"},{"key":"upstream-title","value":"Inside ETFs: Tesla's appeal was 'never' cars"},{"key":"external-asset-id","value":"285_RW453422092026RP1"},{"key":"package-no-social","value":"Yes"},{"key":"package-restrictions","value":"For Reuters platforms only. . For Reuters customers only."},{"key":"upstream-description","value":"Tesla is doubling down on robotics, AI and autonomy as the future of its business - but as it regains ground in the U.S. EV market, some investors are urging the company to refocus on its core auto business. Mike Khouw from YieldMax ETFs told Reuters that Tesla’s valuation is far removed from legacy automakers and difficult to justify on cars alone, making its future success increasingly dependent on new technology. "},{"key":"upstream-channel-code","value":"vty454"}],"usn":"RW453422092026RP1"},{"id":"RW291515092026RP1","type":"video","subtype":"application/x-mpegURL","external_id":"RW291515092026RP1","title":"Inside ETFs: Can GTA VI live up to the hype?","description":"Grand Theft Auto VI is expected to be one of the biggest entertainment launches of all time, but anything less than an earth-shaking blockbuster could disappoint analysts and investors. Thomas DiFazio from Roundhill Investments told Reuters that strong demand for the more expensive premium version shows the pent-up appetite for the video game, and could put the wider industry firmly in investors’ sights.","duration":358.73,"transcript_data":{"transcript":"GTA 6 is about to set a new high score, but for investors, is this game on? GTA 6 is coming, and it's set to be the biggest video game the world has ever seen. That sounds like champagne time for the industry, except there's a glitch. Behind the hype, the business is under Games costing millions can flop massively on day one, sending share prices tumbling. So is GTA 6 the saviour or the final boss for your portfolio? Let's ask Thomas DeFazio, ETF strategist at Roundhill Investments. So Thomas, Take2 is the third largest holding in your video game ETF and GTA 6 is expected to be a blockbuster. Could it soon become your biggest holding or are you wary of the sky-high expectations? On the whole, we've been really impressed with what we've seen from Take-Two CEO's commentary. Now, Rockstar itself does not publish pre-order numbers, but the Take-Two CEO did say that they were seeing very strong pre-order demand for their Premium $100 version of the game versus the standard $80 version, which we think just showcases the pent-up appetite For a game that's been 10 years in the making. We're really optimistic that this will help just to capture investor attention to a part of the entertainment industry that we think has been overlooked While fundamentals have been quietly improving. So GTA 6 will dominate customer spending, media attention, Twitch eyeballs, console support, and on and on. But could that make it a tougher year ahead for rival game makers, or can the boom lift the wider industry? We have seen softer guidance from companies and developers in Asia, but we think that these are conservative estimates and guides that really set the chairs, Set the stages really for a more optimistic, happier outlook. GTA 6 is also an industry experiment, launching without a traditional physical disc, but could this change the gaming business more broadly? Will investors and your fund feel those changes It actually does raise the potential ceiling for AAA releases. $80 is $10 above the standard release of $69.99. And GTA 6's standard version is going for $79.99. And then the premium version, which we talked about, is $99.99. That has the potential, if appetite is shown and it doesn't create any type of demand destruction, Could set and raise the higher ceiling for the industry. And I think a lot of developers are paying attention to that. Let's talk about Beyond GTA, and Nintendo is your fund's second largest holding, Even as investors worry about rising hardware and memory costs. So why stick with Nintendo over other console makers like Sony or Microsoft? What we do think that this does create is longer life cycles for the consoles that are currently present. So you may start to just see a lot of the average age of a console go a little bit longer for the time being, Mostly because memory is going to continue to be a serious input into console development. But that being said, to bring it back to Nintendo and one of our core positions within Nerd, Some of its major some of the major titles we don't think are are worthy of overlooking I know that there's for a lot of our old school fans they think about Ocarina of time and zelda and these types of remakes and remasters can really tap a nostalgic a nostalgic demand That is pretty hard to quantify um but we think will continue to be a major driver for nintendo over the long run. Within the video game play, how does AI factor in? It could dramatically cut game development costs. But also, regulation is becoming a bigger risk. So how should investors play the AI opportunity and where can they diversify beyond it? What we're seeing with some major developers, Square Enix being one of them, is that utilizing AI can help improve quality assurance and cut developmental costs and really eliminate something that has been present in the industry for a long time, which we can know is crunch. And just to be able to reduce that type of serious issues that can become prohibitive if there continues to be a lot of issues with games, AI is really helping To cut that timeline down. And we think that that can be a really powerful driver for lowering developmental costs overall and then also improving speed to market for major titles. So finally, Thomas, Saudi Arabia's wealth fund is reportedly considering a deal involving electronic arts and savvy games That would bring titles like Madden NFL and Pokemon Go under one roof. So is private consolidation a threat to your funds as well as the wider industry? My question would be, what does that do for the quality of the product, and how does that impact consumers' trust in the product that's being delivered to them? If they find that the consolidation reduces the quality, we think that that can hurt overall demand. But if you're given the time to be able to create a really beautiful game, which GTA 6 is expected to be gorgeous after over 10 years in the making, I think that It could be a good thing for certain developers. What that means from a portfolio perspective, that could lead to overall the video game industry and public holdings growing smaller over time, and Investors will have to grapple with that part of concentration. That's not necessarily a bad thing, but that could be the price of admission for investing in the video game industry. That was Thomas DeFazio from Roundtable Investments. Don't forget, you can watch more videos on Reuters.com."},"published_time":"2026-09-15T15:09:31Z","updated_time":"2026-09-15T15:09:33Z","thumbnail":{"url":"https://ajo.prod.reuters.tv/api/v2/img/6aa95e86e4b019e07971e45c","caption":"Grand Theft Auto VI is expected to be one of the biggest entertainment launches of all time, but anything less than an earth-shaking blockbuster could disappoint analysts and investors. Thomas DiFazio from Roundhill Investments told Reuters that strong demand for the more expensive premium version shows the pent-up appetite for the video game, and could put the wider industry firmly in investors’ sights.","type":"image","resizer_url":"https://ajo.prod.reuters.tv/api/v2/img/6aa95e86e4b019e07971e45c"},"source":{"hls":"https://ajo.prod.reuters.tv/v3/playlist/788016/master.m3u8"},"channels":[{"id":"6ffc0233e09c26943b265ef3abd575b2d872818b","name":"Business","regions":["US"]},{"id":"HPUS","name":"RCOM Homepage US","regions":["US"]},{"id":"inside-etf","name":"Inside ETFs","regions":["US"]},{"id":"Markets","name":"Markets","regions":["US"]},{"id":"MarketsNow","name":"Markets Now","regions":["US"]}],"advert_info":{"advert_params":[{"key":"adfriendly","value":true}],"advert_zone":"/4735792/reuters.com","sponsor_logo":{"sponsored":true,"ad_unit_path":"/4735792/reuters.com/video/insideetfs","mobile_ad_unit_path":"/4735792/app.reuters/video/insideetfs"}},"meta_data":[{"key":"link","value":"tag:reuters.com,2026:newsml_RW291515092026RP1:4"},{"key":"byline","value":"London"},{"key":"hidden","value":"false"},{"key":"region","value":"Remote"},{"key":"dateline","value":"Reuters, Reuters, SEP 15"},{"key":"lmp-feed","value":"lp"},{"key":"copyright","value":"(c) 2026 Thomson Reuters, unless otherwise identified. Full statement available at https://www.thomsonreuters.com/en/policies/copyright.html"},{"key":"package-mood","value":"Neutral"},{"key":"package-notes","value":"Microsoft, Video Games, Gaming, Tencent, Mobile, Nintendo, Sony, GTA, EA, Take-Two, NetEase, AI"},{"key":"package-format","value":"Other"},{"key":"publisher-name","value":"reuters.com"},{"key":"upstream-title","value":"Inside ETFs: Can GTA VI live up to the hype?"},{"key":"external-asset-id","value":"285_RW291515092026RP1"},{"key":"package-no-social","value":"Yes"},{"key":"package-restrictions","value":"For Reuters platforms only. . For Reuters customers only."},{"key":"upstream-description","value":"Grand Theft Auto VI is expected to be one of the biggest entertainment launches of all time, but anything less than an earth-shaking blockbuster could disappoint analysts and investors. Thomas DiFazio from Roundhill Investments told Reuters that strong demand for the more expensive premium version shows the pent-up appetite for the video game, and could put the wider industry firmly in investors’ sights."},{"key":"upstream-channel-code","value":"vty454"}],"usn":"RW291515092026RP1"},{"id":"RW120708092026RP1","type":"video","subtype":"application/x-mpegURL","external_id":"RW120708092026RP1","title":"Inside ETFs: Should you avoid the Anthropic IPO?","description":"Anthropic is gearing up for what could be one of the biggest listings ever attempted, but the IPO market is already offering investors plenty of cautionary tales. Marlena Lee from Dimensional Fund Advisors told Reuters that timing is key as typically newly listed companies underperform the broader market in their first year, suggesting investors may be better off waiting.","duration":347.13,"transcript_data":{"transcript":"The bigger the IPO, the bigger the buzz. But is bigger always better for your portfolio? The IPO market has an elephant in the room. It's called Anthropic. It's preparing to file publicly for one of the largest IPOs ever attempted, Putting others in a race to complete their deals before Anthropic grabs the spotlight. We've seen this scramble before. But with all the hype and headlines around these blockbuster deals, Are they really worth your portfolio's attention? Well, let's ask Marlena Lee, Global Head of Investment Solutions at Dimensional Fund Advisors. So Marlena, there are plenty of cautionary tales emerging in the IPO market. SpaceX is up less than 5% since its soaring debut, While SK Hynix's record-setting listing has been even more choppy. So are these mega-IPOs still worth investors' attention? We do like the idea of an IPO. It's part of public markets, and it's a way that investors can get liquidity and capital. But I think the big question is, when do you start investing in them? So we know with SpaceX, for example, a lot of the indices that went early actually have had SpaceX detract from their returns. I think between index addition to like the end of August, we're seeing underperformance by about 12, like 10 to 12 percent, depending on the index. And that's not at all specific to SpaceX. If you look at the 20 largest IPOs in the U.S. since 2005, the underperformance anywhere between 6 to 12 months has actually been about 33 percent underperformance relative to the indices. So what we do see is IPOs, whether they're big, whether they're small, at least in that first year or so, they do tend to underperform in the rest of the market. So it makes sense to wait. Well, let's look at arguments against Anthropic, competition, pressure from open source models, As well as the risk of a slowdown in data center spending, all looming large. So what's the investment case for adding Anthropic to your portfolio? Missing out on it does, you know, introduce some tracking error. But of course, you all have to trade that against what we know is most IPOs, the majority of them do have that underperformance. So, waiting before you get that exposure, we think, makes a lot of sense. That underperformance, You know, it really ties into their characteristics. So when you look at most IPOs, They tend to IPO at a very high price, very high valuations, and often with low profitability. And what we see across all different types of stocks in different sectors is that combination does predict lower returns. But let's talk about disappointment at a scale this size. The IPO calendar is getting even tighter with November's midterm elections approaching. So if Anthropic disappoints, could that put the brakes on the next wave of mega IPOs? Well, we do, there's a lot of chatter about kind of how much one IPO, how well it does relative to the ones that have come before in that year. So it will be interesting to see whether Anthropic's IPO or OpenAI is going to be as successful as SpaceX, because I think for a lot of investors, the returns in SpaceX have been disappointing. Let's look at the Nasdaq and its new rules give the exchange discretion to reject listings when it sees red flags. So when these closely watched stocks come to market, are index providers doing enough to protect investors? That's a fantastic question. I think it's a great reminder that all indices, you know, People think of them as passive investments. You're just buying and holding a usually market-cap-weighted portfolio of whatever stocks they include. But in the end, they all have to make decisions about which stocks to include and when and how to rebalance. And what we see with, whether it's the Nasdaq or the Russell or the MSCI indices, they all made the decision. It was in consultation with market participants, but to go earlier and to actually change their roles in order to include SpaceX earlier, and that's been to the detriment of a lot of investors. So finally, Marlena, bankers say AI being the flavor of the month won't mean that a free pass will come for every IPO. Shein is a case in point, having lost around $5 billion in market value since its listing. So are non-AI IPOs being unfairly overlooked? Oh, there's always these IPO waves, I would say. They come in, in kind of spurts. And that also makes sense because companies tend to wait to IPO until they think that the market conditions are favorable. And clearly, with a lot of these AI and very large IPOs coming to market right now, It seems like people think that right now is a good time to IPO. How long that will last before the IPO market cools, who knows? But over time, I would say pretty consistently, those characteristics that drive that underperformance in IPOs is the same, regardless of whether we're looking at a hot IPO market or one where there's not as many IPOs. I think investors should always be cautious about when to add them to their portfolios. We estimate, because most IPOs are small, we actually estimate that IPOs can detract anywhere from 5 to 15 basis points within a small cap index. So that's just one more cost consideration. I think a lot of people look at index ETFs as being very, very low cost. But once you peel back that and look past the expense ratio and think about things like they're adding IPOs quickly, they're trading in not the best, most efficient manner, that all of those things really, really raise the cost of investing. That was Marlena Lee from Dimensional Fund Advisors. Don't forget you can watch more videos on Reuters.com."},"published_time":"2026-09-08T14:59:20Z","updated_time":"2026-09-08T14:59:22Z","thumbnail":{"url":"https://ajo.prod.reuters.tv/api/v2/img/6aa021c2e4b01915ce4b080c","caption":"Anthropic is gearing up for what could be one of the biggest listings ever attempted, but the IPO market is already offering investors plenty of cautionary tales. Marlena Lee from Dimensional Fund Advisors told Reuters that timing is key as typically newly listed companies underperform the broader market in their first year, suggesting investors may be better off waiting.","type":"image","resizer_url":"https://ajo.prod.reuters.tv/api/v2/img/6aa021c2e4b01915ce4b080c"},"source":{"hls":"https://ajo.prod.reuters.tv/v3/playlist/787477/master.m3u8"},"channels":[{"id":"6ffc0233e09c26943b265ef3abd575b2d872818b","name":"Business","regions":["US"]},{"id":"HPUS","name":"RCOM Homepage US","regions":["US"]},{"id":"inside-etf","name":"Inside ETFs","regions":["US"]}],"advert_info":{"advert_params":[{"key":"adfriendly","value":true}],"advert_zone":"/4735792/reuters.com","sponsor_logo":{"sponsored":true,"ad_unit_path":"/4735792/reuters.com/video/insideetfs","mobile_ad_unit_path":"/4735792/app.reuters/video/insideetfs"}},"meta_data":[{"key":"link","value":"tag:reuters.com,2026:newsml_RW120708092026RP1:4"},{"key":"byline","value":"London, UK"},{"key":"hidden","value":"false"},{"key":"region","value":"Remote"},{"key":"dateline","value":"Reuters, Reuters, SEP 08"},{"key":"lmp-feed","value":"lp"},{"key":"copyright","value":"(c) 2026 Thomson Reuters, unless otherwise identified. Full statement available at https://www.thomsonreuters.com/en/policies/copyright.html"},{"key":"package-mood","value":"Neutral"},{"key":"package-notes","value":"Anthropic, SpaceX, SK Hynix, Shein, IPO, China, AI, Hyperscalers"},{"key":"package-format","value":"Other"},{"key":"publisher-name","value":"reuters.com"},{"key":"upstream-title","value":"Inside ETFs: Should you avoid the Anthropic IPO?"},{"key":"external-asset-id","value":"285_RW120708092026RP1"},{"key":"package-no-social","value":"Yes"},{"key":"package-restrictions","value":"For Reuters platforms only. . For Reuters customers only."},{"key":"upstream-description","value":"Anthropic is gearing up for what could be one of the biggest listings ever attempted, but the IPO market is already offering investors plenty of cautionary tales. Marlena Lee from Dimensional Fund Advisors told Reuters that timing is key as typically newly listed companies underperform the broader market in their first year, suggesting investors may be better off waiting."},{"key":"upstream-channel-code","value":"vty454"}],"usn":"RW120708092026RP1"},{"id":"RW940701092026RP1","type":"video","subtype":"application/x-mpegURL","external_id":"RW940701092026RP1","title":"Inside ETFs: Can higher yields work for your portfolio?","description":"Persistent inflation is challenging bonds’ traditional role as a portfolio diversifier, even as global bond yields have climbed back to their highest levels in almost two decades. Steve Laipply from BlackRock told Reuters that bond funds continue to see record flows, as investors look past the volatility and dislocations and focus on the income component.","duration":356.6,"transcript_data":{"transcript":"The bond market is offering decade high yields but should your portfolio take the bait? Fed Chair Kevin Warsh wants bond investors focused on the economy. Not every word coming out of his mouth. So far they're doing the opposite. Since taking the job the three biggest daily moves in the US treasury yield curve had followed Warsh's appearances. After Jackson Hole he sent global bond yields back towards their highest levels in nearly two decades. So when he takes the microphone, should bond investors take cover or take a position? Well, it's asked Steve Laipply, global co-head of iShares Fixed Income ETFs at BlackRock. So Steve, Warsh kicked off his tenure saying markets were learning to play the ball, not the referee, casting the Fed as a neutral rather than a market mover. But markets clearly aren't treating it that way. Is that ever going to change? You know, the idea that they're a dispassionate observer—that's not true. Their job is to influence monetary policy through the Fed funds rate and other tools. So they are, to varying degrees, an active player in the market. What he was trying to say is the market perhaps had become overly dependent on messaging and forward guidance, and he wanted to walk that back some. While traders are pricing in an almost 70% chance of an interest rate hike this month, Do expect the Fed to deliver and what would that mean for the outlook for treasure yields going forward? From our perspective, we don't necessarily think it's a lock. The market is pricing in a very high probability, but we do have some numbers that will come in ahead of that. And so we'll just have to wait and see. I do think we'll get more clarity as the data starts coming in. And does that change your outlook for yields going forward, if the Fed does hike or stands back? This is about whether they surprise us or not. So as we said, the curve is pricing in two and a half hikes. A number of participants think the market's moved pretty far and pretty fast. Real yields on 10-year are up, you know, 70-odd basis points since the start of the Iran conflict. Interestingly, inflation expectations haven't moved all that much. And so, some folks think that we have gotten pretty far ahead, and we need to see how this data actually materializes. The bond sell-off poses a fresh challenge for Treasury Secretary Scott Bessent with many investors aren't counting on a sustained reversal. So as we revisit those pain points could the Treasury be forced to step in again? Liquidity management operations are a normal part of what Treasury does. I think he's been clear in his statements that he's not seeking to change the equilibrium price. He's more interested in preventing any dislocations due to the absence of liquidity. And so, I think what he's also potentially doing when you do have thinner markets and less liquidity, technical trades can run pretty far. And so perhaps he's sending a bit of a signal that he's prepared to bolster liquidity to keep things from getting dislocated beyond fundamentals. Meanwhile, the correlation between stocks and bonds has turned positive, meaning that bonds have started contributing to equity losses instead of offsetting them. So has this made investors rethink bonds as a risk hedge? What's the pitch for bond ETFs now? Well, it's interesting. So we've had these rising yields now for a while. And we've actually, If you go back and look at a longer time series, we've kind of round-tripped on the 10 years as an example, from sort of the high 3% range all the way up to 5%, all the way back down, And now we're trending towards 5% again. Through all of it, investors have very persistently been allocating back to bonds. Bond ETFs in particular have just seen year after year of record flows this year already. Globally, you've seen over half a trillion come in. And so we continue to send new records. And I think what you're seeing is investors looking past this volatility. Sure, nobody wants to see their losses on their portfolio. But I do think investors are looking past, you know, some of the volatility and dislocations, and they're really focused on the income component. You know, we are very focused here on income as a really important part of portfolio construction now, and so you can do that in a number of different ways. This year, our flows have been all across different exposures and durations, so we've seen... You know, roughly 50 billion of our flows into treasuries. And interestingly, that month or this month, that's been kind of split between the very shortest and the very longest exposures between SGOV and TLT. So I think a lot of investors may be surprised by that, but it shows you That they are looking at the high level of real yields as a tremendous opportunity. We've also seen flows across multi-sector investment grade. It's generally been a quality trade, but the bottom line is the money does keep coming into bonds. So finally Steve, how do traders prepare going forward? Will the composition of ETFs change quickly as the high bond yields persist? Stock-bond correlations are going to fluctuate. In fact, we've done a very deep dive into this research-wise. And over the decades, it's waxed and waned. And it's really what investors are focused on as income. And so they're looking to put in layered sources of income. So liquidity using very short-dated treasuries for that correlation, that ballast trade using longer-duration treasuries for core income using multi-sector funds and high-quality investment grade, And then, you know, looking at defined outcomes, You know, using things like defined maturity ETFs like I-bonds to really target duration and manage against very specific liabilities or cash needs. So it's not just one approach. It's a multilayered approach, but income's at the center of all of it. That was Steve Laipply from BlackRock. Don't forget you can watch more videos on Reuters.com."},"published_time":"2026-09-01T15:09:20Z","updated_time":"2026-09-01T15:09:21Z","thumbnail":{"url":"https://ajo.prod.reuters.tv/api/v2/img/6a96e95de4b0f9a8fa391f1e","caption":"Persistent inflation is challenging bonds’ traditional role as a portfolio diversifier, even as global bond yields have climbed back to their highest levels in almost two decades. Steve Laipply from BlackRock told Reuters that bond funds continue to see record flows, as investors look past the volatility and dislocations and focus on the income component.","type":"image","resizer_url":"https://ajo.prod.reuters.tv/api/v2/img/6a96e95de4b0f9a8fa391f1e"},"source":{"hls":"https://ajo.prod.reuters.tv/v3/playlist/786925/master.m3u8"},"channels":[{"id":"6ffc0233e09c26943b265ef3abd575b2d872818b","name":"Business","regions":["US"]},{"id":"HPUS","name":"RCOM Homepage US","regions":["US"]},{"id":"inside-etf","name":"Inside ETFs","regions":["US"]}],"advert_info":{"advert_params":[{"key":"adfriendly","value":true}],"advert_zone":"/4735792/reuters.com","sponsor_logo":{"sponsored":true,"ad_unit_path":"/4735792/reuters.com/video/insideetfs","mobile_ad_unit_path":"/4735792/app.reuters/video/insideetfs"}},"meta_data":[{"key":"link","value":"tag:reuters.com,2026:newsml_RW940701092026RP1:4"},{"key":"byline","value":"London, UK"},{"key":"hidden","value":"false"},{"key":"region","value":"Remote"},{"key":"dateline","value":"Reuters, Reuters, SEP 01"},{"key":"lmp-feed","value":"lp"},{"key":"copyright","value":"(c) 2026 Thomson Reuters, unless otherwise identified. Full statement available at https://www.thomsonreuters.com/en/policies/copyright.html"},{"key":"package-mood","value":"Neutral"},{"key":"package-notes","value":"Inflation, Trump, Warsh, Treasuries, Midterms, Bessent, Interest Rates, Treasury, Yields, Bonds, Fed"},{"key":"package-format","value":"Other"},{"key":"publisher-name","value":"reuters.com"},{"key":"upstream-title","value":"Inside ETFs: Can higher yields work for your portfolio?"},{"key":"external-asset-id","value":"285_RW940701092026RP1"},{"key":"package-no-social","value":"Yes"},{"key":"package-restrictions","value":"For Reuters platforms only. . For Reuters customers only."},{"key":"upstream-description","value":"Persistent inflation is challenging bonds’ traditional role as a portfolio diversifier, even as global bond yields have climbed back to their highest levels in almost two decades. Steve Laipply from BlackRock told Reuters that bond funds continue to see record flows, as investors look past the volatility and dislocations and focus on the income component."},{"key":"upstream-channel-code","value":"vty454"}],"usn":"RW940701092026RP1"},{"id":"RW774125082026RP1","type":"video","subtype":"application/x-mpegURL","external_id":"RW774125082026RP1","title":"Inside ETFs: Can you profit from the robot revolution?","description":"China’s humanoid robots can now outrun the fastest humans, but with mass adoption potentially still a decade away, investors are asking whether robotics enthusiasm has run ahead of the fundamentals. Adam Patti from VistaShares told Reuters the opportunity today may be less about picking the winning robot, and more about backing the infrastructure and suppliers powering the build-out.","duration":281.2,"transcript_data":{"transcript":"'The robots are coming, so should you own a piece of the revolution?' Robots built to move, work and act like humans. They're not quite ready to take over factories, but they're getting closer and fast. The potential is huge. Analysts estimate the humanoid market could reach $5 trillion by 2050 with more than $1 billion in use. So when it comes to your portfolio, are you ready to put the robots to work? Well, let's ask Adam Patti, CEO of VistaShares. So, Adam, investors scrambled for a piece of China's Unitree after its IPO last week, but the wild swings in its valuation have raised questions over whether robotics enthusiasm has run ahead of the fundamentals. So what's your defense for the hype?' 'The market is very nascent, right? So, it's really an infrastructure play right now. It's very difficult to choose who's going to win, who's going to end up having the robots that actually are most prevalent in the marketplace. So, our approach is really about the infrastructure. It's not about picking winners. It's about looking at the supply chain, understanding all the components that go into building robotics, whether it's industrial or humanoid. There are many different vendors, many different parts that go into that. Infact, believe it or not, 50% of the cost of a robot is the actuators. Those are the joints. So, it's a very early stage and investors would be wise to really look at the vendors who are. collecting the investment money, right? The CapEx that is being deployed into the supply chain.' 'But what's the timeline for some of those vendors? Many of the most optimistic forecasts put mass adoption for robotics within the next decade. So. is this ultimately a long-term bet?' 'Well, I think there's many different facets of robotics, right? If you really dig in Industrial robotics is happening now, and it's accelerating. So, you see what's happening with Amazon. They're automating their distribution centers. There's factories being automated all over the world with robotics. The play now is more of an industrial scale play. And then that migrates into the humanoid sector as that part of the market matures. And it is maturing very quickly, as we saw, I think, in the Robot Olympics. One of the robots beat Usain Bolt's sprinting record. Pretty amazing. So I think that's happening very quickly. Drones is another piece of that, right? That's a piece of robotics as and we all see what's happening in the drone market, both for military and commercial use.' 'Robotics is becoming a new front in the China-U.S. race for tech supremacy. China is ahead in many areas, but is your portfolio picking a side? Where are the best opportunities right now?' Well, we believe, again, it's in the supply chain. So it's all the kind of the boring pieces that go into building the robotics. So when you see a video, you're seeing a robot climbing stairs, running down the street, doing whatever it's doing. That's all well and good, but that's about picking winners. Whose robotics? Is it Tesla? Whomever it may be But if you see what Tesla is doing right now, they are actually refitting their factories for producing the Optimus robot. And they're taking away production from automobiles. So again, that is where the play is right now. It's about building the infrastructure and ensuring that you as an investor have exposure to all the components that go into building those factories, operating them, and all the components that go into building the end. End-product.' 'Adam, you have touched on this but where does robotics go next beyond manufacturing? Could it take a share of your defense or space portfolios?' 'Well, it certainly can. I mean, robotics is taking over a lot of different components. I mean, we need the AI intelligence to continue to mature to be able to handle that. But right now, I think what we're really looking at is a drastic increase in industrial-scale usage, and that is happening right now. In fact, on the humanoid side, which is very interesting, I saw a statistic yesterday that about 4% to 5% of the manufacturing workforce may be robots within by 2030 so that is a... that's not too far from now. and that's the big chunk of the workforce.' 'So, Adam, let's finish on Unitree's IPO. It could pave the way for more robotics companies to come to market. So, if the IPO pipeline opens up, are you jumping in?' 'Well, we don't jump into anything. Our methodology, again, is very different We're not trying to pick the winners. If Unitree is an important component in the supply chain, they very well may make it into our portfolio. But as an end product developer, that's something we would wait and see on.' 'That was Adam Patti from VistaShares. Don't forget you can watch more videos on Reuters.com'"},"published_time":"2026-08-25T15:19:23Z","updated_time":"2026-08-25T15:19:24Z","thumbnail":{"url":"https://ajo.prod.reuters.tv/api/v2/img/6a8db1a0e4b08e2aff527f3b","caption":"China’s humanoid robots can now outrun the fastest humans, but with mass adoption potentially still a decade away, investors are asking whether robotics enthusiasm has run ahead of the fundamentals. Adam Patti from VistaShares told Reuters the opportunity today may be less about picking the winning robot, and more about backing the infrastructure and suppliers powering the build-out.","type":"image","resizer_url":"https://ajo.prod.reuters.tv/api/v2/img/6a8db1a0e4b08e2aff527f3b"},"source":{"hls":"https://ajo.prod.reuters.tv/v3/playlist/786402/master.m3u8"},"channels":[{"id":"6ffc0233e09c26943b265ef3abd575b2d872818b","name":"Business","regions":["US"]},{"id":"d45538fb92ef02a065c15e16d3dd6a297c2ae7d7","name":"Technology","regions":["US"]},{"id":"inside-etf","name":"Inside ETFs","regions":["US"]}],"advert_info":{"advert_params":[{"key":"adfriendly","value":true}],"advert_zone":"/4735792/reuters.com","sponsor_logo":{"sponsored":true,"ad_unit_path":"/4735792/reuters.com/video/insideetfs","mobile_ad_unit_path":"/4735792/app.reuters/video/insideetfs"}},"meta_data":[{"key":"link","value":"tag:reuters.com,2026:newsml_RW774125082026RP1:2"},{"key":"byline","value":"London, UK"},{"key":"hidden","value":"false"},{"key":"region","value":"Remote"},{"key":"dateline","value":"Reuters, Reuters, AUG 25"},{"key":"lmp-feed","value":"lp"},{"key":"copyright","value":"(c) 2026 Thomson Reuters, unless otherwise identified. Full statement available at https://www.thomsonreuters.com/en/policies/copyright.html"},{"key":"package-mood","value":"Neutral"},{"key":"package-notes","value":"Robotics, Humanoid, Manufacturing, Defense, Space, IPO, Unitree, AI"},{"key":"package-format","value":"Other"},{"key":"publisher-name","value":"reuters.com"},{"key":"upstream-title","value":"Inside ETFs: Can you profit from the robot revolution?"},{"key":"external-asset-id","value":"285_RW774125082026RP1"},{"key":"package-no-social","value":"Yes"},{"key":"package-restrictions","value":"For Reuters platforms only.. For Reuters customers only."},{"key":"upstream-description","value":"China’s humanoid robots can now outrun the fastest humans, but with mass adoption potentially still a decade away, investors are asking whether robotics enthusiasm has run ahead of the fundamentals. Adam Patti from VistaShares told Reuters the opportunity today may be less about picking the winning robot, and more about backing the infrastructure and suppliers powering the build-out."},{"key":"upstream-channel-code","value":"vty454"}],"usn":"RW774125082026RP1"},{"id":"RW627818082026RP1","type":"video","subtype":"application/x-mpegURL","external_id":"RW627818082026RP1","title":"Inside ETFs: Is South Korea still the chip trade to bet on?","description":"Taiwanese stocks are battling for favor over South Korea’s semiconductor giants, while China’s chip industry is also having a breakout moment. But Johnny Wu from xETFs told Reuters if you believe in the AI revolution and Seoul’s critical role in supplying the chips needed to power it, it's time to bet on a 'golden age' for South Korea.","duration":335.33,"transcript_data":{"transcript":"South Korea's chip trade has been a feast, but should your portfolio be going back for seconds? Norway's $2.3 trillion sovereign wealth fund has a concentration problem, and it can be summed up in the manager's own words. Chips, chips, chips, chips. South Korea offers a striking Samsung Electronics and SK Hynix have surged on the AI boom, at points more than tripling this year. But when the trade gets this crowded, the gains can be spectacular, and so can the reversals. So, how many chips are too many Well, it's asked Johnny Wu, co-founder and CEO of... xETFs So Johnny chip makers are notorious for turning booms into busts meanwhile South Korea's KOSPI suffered its worst month since the global financial crisis so it makes you confident this sector is a safe long-term investment. The 10 years prior to last April of 2025, the South Korea stock market didn't really do anything, right? But in the last, call it, year and four months, the South Korea market, with the market recognizing... Memory and chips being so important has really appreciated, you know, in the neighborhood of 150 to 200 percent in terms of the relative stocks. Surely there are always pullbacks in a broad scale rally. But the trend, I think, is clear that AI, the AI revolution and self-career's importance for that market sits at the heart of why we created an ETF. Symbol KSMH, that inception date is today and that will have the first day of trading tomorrow. What we wanted to do was give investors the ability to have target exposure to the South Korea AI semiconductor industry. Let's talk about single stock leveraged ETFs and in South Korea they've seen trading plunge after regulators moved to cool speculative demand. So now that that leveraged fueled frenzy has failed, are the huge gains of the past year behind us? I think what the Korean regulators have done, it's really smart, right? It's like, you know, they're not going to tell you you can't use these products, right? But you should understand these products You should have education around it And, you know, the fact that they're requiring minimum balances because it is a professional trading product, I think is a good thing, right? And so that tempered the And it hasn't... Completely stopped all the speculation, right? But it has certainly, um, tempered, uh, the enthusiasm around some, using some of these products, because it can cut both ways. Let's talk about some of the big names here, Samsung and SK Hynix. They account for roughly 44% of the Cosby's total value. So if investors want exposure to South Korea's chip boom, are they effectively just betting on these two companies or is there a broader tech ecosystem at play here? Our thesis for this is that it's very, very hard to time the market, right? But if you think about the next three years, five years, and 10 years, if you believe in the AI revolution, if you believe in South Korea being critical for supplying a lot of the semiconductor chips, namely around memory, namely around HBM. South korea is going to be so important to that overall build out for ai data centers throughout the entire world right Jensen Huang from Nvidia has said this is the golden age for south korea and we believe that because what we're trying to do is give investors the ability to get exposure for that because we do believe in the long term this is a cyclical trend um that the continued capex capex spendings by all the hyperscalers will continue to grow Well, Johnny, some investors are looking Taiwanese stocks are gaining favour over South Korea on stronger earnings prospects, while China's chip industry is also having a breakout moment. So what does South Korea need to win back investors in the global view? All these countries are really, really critical Because there's just a shortage of supply for all the demand that's needed to build out all these AI data centers, right? So in the short term, yeah, it's this. Some focus that China and Taiwan, you know, more investors are shifting there over the short term. But over the long term, I think all three of those countries, in addition to Japan, in addition to the U.S., in addition to, you know, companies that have dominant positions in the bottlenecks, will all participate, I think, very, very nicely, given the AI data spend. What everyone hopes is the monetization of that, right, over the next decade or so. And you're seeing that in, you know, some of the hyperscalar earnings, right, that, yes, there's this concern around circular financing and all this investment, but you can see some of the earnings coming out from that, and that's just early days, right? I can remember... Oh, 25 years ago when everyone was critical about Amazon, right, because they were spending so much money to reinvest in their business. And, you know, when our shareholders are going to actually see the earnings, right? Well, Jeff Bezos was right, right You know, just building out the critical infrastructure that Amazon needed, right, to become a dominant, not only retail, right, retailer back then, right, but becoming one of the dominant AI players today in terms of their cloud services, et cetera. That was Johnny Wu from xETFs. Don't forget you can watch more videos on Reuters.com."},"published_time":"2026-08-18T15:53:39Z","updated_time":"2026-08-18T15:53:40Z","thumbnail":{"url":"https://ajo.prod.reuters.tv/api/v2/img/6a847ee8e4b0fc7138734cd4","caption":"Taiwanese stocks are battling for favor over South Korea’s semiconductor giants, while China’s chip industry is also having a breakout moment. But Johnny Wu from xETFs told Reuters if you believe in the AI revolution and Seoul’s critical role in supplying the chips needed to power it, it's time to bet on a 'golden age' for South Korea.","type":"image","resizer_url":"https://ajo.prod.reuters.tv/api/v2/img/6a847ee8e4b0fc7138734cd4"},"source":{"hls":"https://ajo.prod.reuters.tv/v3/playlist/785905/master.m3u8"},"channels":[{"id":"HPUS","name":"RCOM Homepage US","regions":["US"]},{"id":"inside-etf","name":"Inside ETFs","regions":["US"]}],"advert_info":{"advert_params":[{"key":"adfriendly","value":true}],"advert_zone":"/4735792/reuters.com","sponsor_logo":{"sponsored":true,"ad_unit_path":"/4735792/reuters.com/video/insideetfs","mobile_ad_unit_path":"/4735792/app.reuters/video/insideetfs"}},"meta_data":[{"key":"link","value":"tag:reuters.com,2026:newsml_RW627818082026RP1:4"},{"key":"byline","value":"London, UK"},{"key":"hidden","value":"false"},{"key":"region","value":"Remote"},{"key":"dateline","value":"Reuters, Reuters, AUG 18"},{"key":"lmp-feed","value":"lp"},{"key":"copyright","value":"(c) 2026 Thomson Reuters, unless otherwise identified. Full statement available at https://www.thomsonreuters.com/en/policies/copyright.html"},{"key":"package-mood","value":"Neutral"},{"key":"package-notes","value":"Hyperscalers, IPO, Memory, Chips, Samsung, ETFs, Kospi, Semiconductors, SK Hynix, AI, DRAM"},{"key":"package-format","value":"Other"},{"key":"publisher-name","value":"reuters.com"},{"key":"upstream-title","value":"Inside ETFs: Is South Korea still the chip trade to bet on?"},{"key":"external-asset-id","value":"285_RW627818082026RP1"},{"key":"package-no-social","value":"Yes"},{"key":"package-restrictions","value":"For Reuters platforms only.. For Reuters customers only."},{"key":"upstream-description","value":"Taiwanese stocks are battling for favor over South Korea’s semiconductor giants, while China’s chip industry is also having a breakout moment. But Johnny Wu from xETFs told Reuters if you believe in the AI revolution and Seoul’s critical role in supplying the chips needed to power it, it's time to bet on a 'golden age' for South Korea."},{"key":"upstream-channel-code","value":"vty454"}],"usn":"RW627818082026RP1"},{"id":"RW466111082026RP1","type":"video","subtype":"application/x-mpegURL","external_id":"RW466111082026RP1","title":"Inside ETFs: Can China's chip boom outrun US sanctions?","description":"U.S. sanctions were meant to put the brakes on China’s chip ambitions, but Beijing is fighting back - pushing companies to buy local chips and giving Chinese chipmakers a captive market. JP Lee from VanEck told Reuters that this should keep them in business 'for a while', even as sanctions threaten their global ambitions.","duration":343.73,"transcript_data":{"transcript":"China's chip makers are making some big moves, so should your portfolio up the ante? This is Inside ETFs, and today, we're talking Chinese semiconductors. Even by the frothy standards of the AI era, CXMT's trading debut in Shanghai last month was extraordinary. Within hours, the chipmaker surged more than 500%. But the boom doesn't stop there. China's major chipmakers saw profits soar 2,500% in the first half of 2026. So after years of playing catch up, is it time for your portfolio to cash in on China's chips? Well, let's ask JP Lee. Product manager at VanEck. So JP, Chinese companies expect to spend 46% of their AI accelerator budgets on locally made chips over the next 12 months. That's up from 30% today. So is this boom being driven mainly by demand at home? I think there's a lot of tailwinds that are driving the Chinese local semiconductor industry. I mean, first, let's just start to in 2025, China was the number one spender when it comes to semiconductor manufacturing equipment. So not spending on the chips themselves, but spending on the factories and the machines and the capabilities that they need to build out their infrastructure to produce these chips. And on the other hand, you've got government policies that are directing local companies to buy local. So there is a number of different forces that are kind of leading to this surge in domestic demand. I mean, we see demand all around the world, you know, for semiconductors. But there is a very strong tailwind in China specifically to buy local. The government supporting the industry strongly and kind of forcing companies to buy local. Meanwhile, China has unleashed its $28 trillion capital markets to challenge the US in AI, but weak domestic investment could weigh on profitability. So without stronger stimulus, how long can this boom last? We've seen this happen before in China where the government supports a specific industry and maybe there's the risk of overcapacity. And that would definitely, I think, squeeze margins for companies that are producing these chips if there's a flood in the market on the supply side. However, when you think about is AI going to go away, is the demand for semiconductors going to go away, are these things slowing down? I think the answer is no. And this fund, the VanEck China Semiconductor ETF, ticker SMHC, is just providing access to that story and to that ecosystem. So let's talk price now JP, and China's progress in low-cost AI is strengthening the investment case for the country. But if Chinese semiconductor makers can't keep costs down, does that undermine the story? I think that's the same story that global investors are digesting right now. Since mid-July, early July, we've seen a pretty heavy sell-off in the AI space and semiconductor space and the memory space. So I think the question is how much are revenues worth when it comes to a specific stock price? How much are margins going to get squeezed by these CapEx expenditures from all these different companies that are buying chips? I think that's a global question, and I'm not going to sit here and call a top or a bottom on that. And that's, again, why SMHC is a great way to just kind of get exposure to that industry, whatever your direction or whatever you think is going to happen. Well, let's look closer at CXMT. Its tech has attracted interest from major global companies, but also the company is blacklisted by the Pentagon over alleged ties to China's military. So could these security concerns forever limit global growth for China? I mean, that's definitely front of mind for a lot of investors who are looking at China. And then taking a step back, we've seen volatility when it comes to Chinese regulators. And now we kind of have volatility on the U.S. side, too, where there's not necessarily a clear picture of what the U.S. is going to do. So in the SMHC universe, some of the names are already excluded from the underlying index. So the index construction is kind of keeping that in mind. So, if an index... Or if a company is sanctioned, it will be removed from the index. And if it's sanctioned, it will never come into the index in the first place. So one of the biggest names in the China semiconductor space publicly is SMIC. It's not in the index. So it's definitely on the radar. Whether that's going to keep these companies, the industry from growing, I think that there's a lot of domestic demand. And again, these local mandates where the government's saying you have to buy local if you're a Chinese company is going to keep... I think these companies in business for a while, whether that means they can take their talents everywhere. It remains to be seen. What about the tech, though, JP. Chinese chips some say are still years behind and some reports suggest that China's most advanced AI models are still being trained on Nvidia hardware. So is the push for self-sufficiency coming too soon? Is the tech just not there yet? I think that this is kind of a new space race. And, you know, as far as what's publicly disclosed by either side, China is, you know, a year or two behind, you know, on their fastest chips in their best memory. Um That's why they're doing this, though. When the U.S. imposes export controls and says, look, NVIDIA and ASML, you cannot sell your best chips to China, once that door is kind of closed, if you're a Chinese tech person or a Chinese business person and you're trying to compete with the U.S. and our chips are, as far as we know, a little bit further along, they're going to have to look inward and they're going to have to do it themselves. And so that's what we're seeing. That was JP Lee from VanEck. Don't forget you can watch more videos on Reuters.com"},"published_time":"2026-08-11T15:01:17Z","updated_time":"2026-08-11T15:01:19Z","thumbnail":{"url":"https://ajo.prod.reuters.tv/api/v2/img/6a7b3827e4b021862a494c6a","caption":"U.S. sanctions were meant to put the brakes on China’s chip ambitions, but Beijing is fighting back - pushing companies to buy local chips and giving Chinese chipmakers a captive market. JP Lee from VanEck told Reuters that this should keep them in business 'for a while', even as sanctions threaten their global ambitions.","type":"image","resizer_url":"https://ajo.prod.reuters.tv/api/v2/img/6a7b3827e4b021862a494c6a"},"source":{"hls":"https://ajo.prod.reuters.tv/v3/playlist/785384/master.m3u8"},"channels":[{"id":"6ffc0233e09c26943b265ef3abd575b2d872818b","name":"Business","regions":["US"]},{"id":"china","name":"China","regions":["US"]},{"id":"d45538fb92ef02a065c15e16d3dd6a297c2ae7d7","name":"Technology","regions":["US"]},{"id":"HPUS","name":"RCOM Homepage US","regions":["US"]},{"id":"inside-etf","name":"Inside ETFs","regions":["US"]}],"advert_info":{"advert_params":[{"key":"adfriendly","value":true}],"advert_zone":"/4735792/reuters.com","sponsor_logo":{"sponsored":true,"ad_unit_path":"/4735792/reuters.com/video/insideetfs","mobile_ad_unit_path":"/4735792/app.reuters/video/insideetfs"}},"meta_data":[{"key":"link","value":"tag:reuters.com,2026:newsml_RW466111082026RP1:4"},{"key":"byline","value":"London, UK"},{"key":"hidden","value":"false"},{"key":"region","value":"Remote"},{"key":"dateline","value":"Reuters, Reuters, AUG 11"},{"key":"lmp-feed","value":"lp"},{"key":"copyright","value":"(c) 2026 Thomson Reuters, unless otherwise identified. Full statement available at https://www.thomsonreuters.com/en/policies/copyright.html"},{"key":"package-mood","value":"Neutral"},{"key":"package-notes","value":"AI, China, CXMT, Chips, Semiconductors, DRAM, Trump, Xi"},{"key":"package-format","value":"Other"},{"key":"publisher-name","value":"reuters.com"},{"key":"upstream-title","value":"Inside ETFs: Can China's chip boom outrun US sanctions?"},{"key":"external-asset-id","value":"285_RW466111082026RP1"},{"key":"package-no-social","value":"Yes"},{"key":"package-restrictions","value":"For Reuters platforms only. . For Reuters customers only."},{"key":"upstream-description","value":"U.S. sanctions were meant to put the brakes on China’s chip ambitions, but Beijing is fighting back - pushing companies to buy local chips and giving Chinese chipmakers a captive market. JP Lee from VanEck told Reuters that this should keep them in business 'for a while', even as sanctions threaten their global ambitions."},{"key":"upstream-channel-code","value":"vty454"}],"usn":"RW466111082026RP1"},{"id":"RW311604082026RP1","type":"video","subtype":"application/x-mpegURL","external_id":"RW311604082026RP1","title":"Inside ETFs: Should you bet on China's AI boom?","description":"China’s AI industry is unleashing a wave of new models that’s rapidly eroding Silicon Valley’s long-held lead, intensifying the race to dominate the next generation of AI. But Brian Krawez from Scharf Investments told Reuters this fierce competition could instead produce a 'Goldilocks economy' - one where no single tech giant dominates and businesses gain access to increasingly powerful tools at lower cost.","duration":354.93,"transcript_data":{"transcript":"'The AI gold rush is moving from promises to profits. But can you tell the treasure from the trash?' 'This is Inside ETFs and we're talking about AI. This earnings season, investors are discovering that not every map leads to gold. Across the S&P 500, earnings are tracking one of the strongest quarterly gains in years. But as companies commit to billions more to AI, investors are demanding proof that those dollars can create real value. The AI treasure hunters are getting more careful. So where should your portfolio dig for gold? Well, that's Brian Krawez, president of Scharf Investments. So Brian, this earnings season could be described as a blowout, but despite those strong results, investors are left with a sense of AI pessimism. What's your perspective? Depends on what part of the AI trade you're looking at. I mean, if you look at Amazon and Microsoft, they had very impressive earnings and really showed you're starting to get really good returns. I think some of the high-flying semiconductor stocks have come off somewhat, but you've got to look at how much they're up on the year as well. But we really were heartened by the earnings of, say Amazon and Microsoft. Amazon, as an example had, you know, just absolutely fantastic. AWS was the fastest it's been in years and, you know, they had growing margins, growing backlog so it was just a stellar quarter.' 'Well, the scale of today's AI build-out dwarfs any landmark infrastructure project of the last century. So, investors grow more cautious about all this spending. Will those who step back deserve a place in your portfolio?' 'It's anybody's guess how long this is going to go before they start to scale back Capex. But most AI booms, and as you mentioned, this is one of the biggest Capex expenditures in history, most of them are met with overinvestment and then a pullback period. We still think that big hyperscalers can make money because they control their own destiny, being able to cut back the Capex. Whereas, some of the more cyclical names that less predictability may have really, really good for cash right now, but may ultimately have a tougher time as we get farther into this AI trade.' 'Let's talk about semiconductors We've seen some concerns around valuations and whether demand can stay this strong. So, are chips earnings durable or are investors pricing in too much to perfection?' 'You've got to be a little bit more tactical, and you could see margins there roll over. So a safer way, again, to play it, we think, is sort of the Microsoft, Amazons, Metas of the world. But obviously, the earnings for all semis, memory in particular, are probably going to be very, very good in the short term, as you're seeing literally a trillion dollars in Capex expected to be spent next year.' 'Well, beyond tech, sectors like financials, energy and healthcare have delivered strong earnings and AI adoption is spreading across the economy. So, do they deserve a bigger part of your portfolio?' 'We're really excited about, say, insurance's ability to really cut costs. And we think you're going to see margin increases across areas like insurance, healthcare. And so we just think the market's not really paying for that yet. And so the market's really, when we looked at it, for example, in the first half, we broke the market down into AI and non-AI stocks. Our analysis showed that non-AI stocks were actually down 6% in the first-half. And that surprised some people because when you look at the indexes, the indexes are all flying. But it was because the AI stocks were up over 30%. So, we think a lot of those non-AI stocks will actually benefit as LLMs get get rolled out and as they you know the power of compute is you know cheapening and so it'll allow companies to get higher margins and better revenue it just hasn't really come through yet but we think that's actually a place that investors have been ignoring and really should be looking.' 'So finally, Brian, China's AI sector is advancing quickly, with new models narrowing the gap with Silicon Valley. So how should investors think about China's AI challenge? Is this a threat or an opportunity for your portfolio?' So, going through all of these different cycles from the internet to the semi-connectors before, it's really been a winner-take-all business. If the Chinese LLMs get in there and people are using them, and again, that's why we like Microsoft, because they can be the gatekeeper of using this model or that model and really drive efficiency for companies to be able to send their problems to the right LLM at the right time and also control security. You know, again, we think that that could mean that the big LLMs have more trouble making money than in the past for top tech companies. But it's a fantastic thing potentially for your average company because suddenly they'll have these tools available to them at a very cheap price. So, it could be a very different type of dynamic in the economy than investors have become used to the last two decades, where you just find the best tech company that basically sucks out all the economic rents and kills everybody else this could actually be a goldilocks economy where a lot of companies are benefiting. And there's some concern that, 'hey, we're going to have labor that's going to be impossible to find a job and these type of concerns', which are valid concerns. But ultimately, humanity has shown that with new technologies, we're able to find massive new ways to increase productivity and massive ways to help consumers. I think consumers will be the biggest beneficiaries of all. And I think it'll improve society, in general. But from an investment perspective, I think a lot of non-tech companies will actually benefit. And so I think there's a lot of reasons to be very excited about the technology and about what's coming for investors and for humans at large.' 'That was Brian Krawez from Scharf Investments. Don't forget you can watch more videos on Reuters.com'"},"published_time":"2026-08-04T14:01:06Z","updated_time":"2026-08-04T14:35:54Z","thumbnail":{"url":"https://ajo.prod.reuters.tv/api/v2/img/6a71efe0e4b098c990332c2c-1785853919777","caption":"China’s AI industry is unleashing a wave of new models that’s rapidly eroding Silicon Valley’s long-held lead, intensifying the race to dominate the next generation of AI. 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We have an upcoming earnings scheduled for next week, and I think a lot of people are going to be looking to see what happens, what news gets released, what information is shared. That will be the first time that the company has done this since going public. So I think a lot of eyes will certainly be watching that, but similar to the run up that we saw with space with space stocks leading up to the IPO and the subsequent sell off, people may be looking at this lockup window as you mentioned. Something to get ahead of, but who knows where that price will settle after that lockup window has once finally opened up. But what lesson should investors take from SpaceX's post listing struggles? Should investors be wary of separating the hype from the companies with real long term potential? So there have been a lot of things that have happened even since the company's gone public. So we're seeing a lot of contracts starting to be awarded. We're seeing successful milestones completed with the recent launch of Starship just this past week. And a lot of reason for people to be considering SpaceX as a way to potentially play the space industry. But I think a lot of people are also looking potentially for diversification. Something like UFO, which holds over 60 publicly traded space companies from around the world, has been a way that people can get exposure to the company without necessarily putting all their eggs in one basket. And with so many pending things ahead for this company, I think certainly it deserves a lot of the attention it has received. Meanwhile, global investment in space startups is close to record levels. So how can investors get exposure to the private space boom? Is M&A the next big catalyst to watch or stick with IPOs? So a lot of the companies that seem to be looking at private space companies as well as public space companies recently has been some of these publicly traded space companies. And so we've seen some interesting acquisitions. We've seen SpaceX before they IPO'd with their play on AI and data centers. We've seen companies like Rocket Lab, which have made some other strategic acquisitions recently, notably the conversations with the Iridium M&A. And then we've also seen Rocket Lab be a company that went from an area where... previously, it had been the Primes, the very large diversified aerospace and defense names, had been one of the only players there looking to pick up some of these assets from failed companies for pennies on the dollar. Now we're seeing a much more robust ecosystem of companies that are looking to get involved in the space industry and are participating in these opportunities. So as the prices have come off, we've started to see more rumors of potential acquisitions. Amazon has been out there as well recently. But this also does kind of mirror very similarly what we saw with the SPAC boom in bus cycle. And so people that are just looking at all space companies equally and saying, well, SpaceX is down, let me sell, might not be looking at the opportunities for values of different companies that maybe have been punished too severely. Let's look closer at Rocket Lab Investors have code though on its acquisition strategy. Is growth execution, rather than just one successful mission, able to determine the next winners in space investing? It's going to be tough when space companies look to set their missions forward. They don't look one week, one month, one quarter in advance. Some of these companies are looking at where they want to be in the next decade and building out that infrastructure today is absolutely critical for these companies. But we've also seen many new ideas emerging from all around the world. This isn't just strictly a US centric industry, although some of the larger space players do happen to be American companies. This is truly a global race. We're seeing the stakes are being are being set. The bets are being placed And so people that are looking at the space industry should, potentially, not just be looking at days and weeks either, because that is how these strategies are being. So finally, Andrew, the idea of data centres in space is attracting attention from investors. Could the space opportunity eventually go far beyond rockets and satellites? Are we still waiting to see which tech can actually work? So, we're seeing numerous companies that are trying to come to present solutions. For data centers in space And the reasons to do so certainly make a lot of sense. But that's not the only thing that's happening right now for the space industry. We're seeing contracts being awarded by NASA, by governments, by the Golden Dome project. So there are opportunities that companies are trying to seize on today that will also take some time to build out. And data centers could just potentially be one of those catalysts. So as the technologies play out, we'll see who finishes, but it might not just be winner takes all. There could be room for numerous players from the launch as well as the hardware side and connectivity. That was Andrew Chanin from ProcureAM Don't forget, you can watch more videos on Reuters.com."},"published_time":"2026-07-28T13:49:23Z","updated_time":"2026-07-28T13:49:23Z","thumbnail":{"url":"https://ajo.prod.reuters.tv/api/v2/img/6a68b279e4b016e68daf5374","caption":"Space investing soared into the spotlight after SpaceX’s IPO captured the market’s imagination. But after the company wiped more than $1 trillion from its peak market value, have investors already turned their backs on the stars? 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