Morning headlines: Oil prices fall after Maduro's capture, TSMC record, and gold rally

The price of Brent crude oil fell to nearly $60 per barrel after the US captured Venezuelan President Nicolas Maduro. Taiwan Semiconductor Manufacturing Co. shares hit a record high thanks to an upgraded forecast from Goldman Sachs and expectations of years of growth in demand for AI chips. In Hong Kong, Chinese AI startup MiniMax is preparing for an IPO at the upper end of the range, with a valuation of about $6.5 billion. These and other topics are covered in our review of key events as of the morning of January 5.

Brent Mark crude oil futures fell by approximately 0.66% to $60 per barrel, according to data from the Intercontinental Exchange. US WTI crude oil lost about 0.8% in value. Gold and silver prices, on the other hand, rose sharply after reports that the US had captured Venezuelan leader Nicolas Maduro due to increased geopolitical uncertainty, Bloomberg reports.

The spot price of gold rose above $4,420 per ounce, while silver gained nearly 5%. Donald Trump said that Washington intends to take control of Venezuela, including access to its oil resources, which increased demand for defensive assets, despite expectations that the crisis will not escalate into a protracted military conflict, the agency recalled.

In 2025, gold showed its best performance since 1979 thanks to purchases by central banks, inflows into ETFs, and lower Fed rates, Bloomberg notes. Major banks expect prices to continue to rise, with Goldman Sachs predicting that gold could reach $4,900 per ounce. Silver, which grew faster than gold last year, is further supported by fears of possible import duties in the US.

Taiwan Semiconductor Manufacturing Co. shares rose more than 5% at the end of trading in Taiwan, and at one point were up nearly 7%, hitting a record high amid continued optimism about demand for AI chips, Bloomberg reports. The reason for this was Goldman Sachs raising its target price by 35% to 2,330 Taiwanese dollars (about $74). Analysts expect another year of solid growth, noting improved margins despite the company's plans to invest about $150 billion in expanding production capacity over the next three years.

TSMC's growth boosted the entire Asian tech sector and helped the Taiex index set a new record. Samsung Electronics shares continued their rally, and Japanese semiconductor equipment manufacturers also showed strong growth. Analysts note that 2026 will still be the "year of AI," but, given concerns about market overheating, they advise investors to bet on the highest-quality companies, according to Bloomberg.

According to Reuters sources, Chinese AI startup MiniMax Group intends to set its IPO price in Hong Kong closer to the upper end of the range after the order book was repeatedly oversubscribed. The company offered shares at a price ranging from HK$151 to HK$165 (from $19.4 to $21.2); at the upper end, the placement could raise around HK$4.19 billion ($538 million) and value MiniMax at approximately $6.5 billion.

Founded in 2022 by former SenseTime top manager Yan Junjie, MiniMax develops multimodal AI models that work with text, images, audio, video, and music. The placement is scheduled to be evaluated on January 6, and trading of the shares on the Hong Kong Stock Exchange is set to begin on January 9, Reuters reports.

Elon Musk's satellite operator Starlink has provided free broadband internet to users in Venezuela until February 3 amid US strikes and the arrest of Nicolas Maduro, CNBC reports. The company said it is automatically crediting service credits to both active and inactive accounts while monitoring the situation and regulatory requirements. The formal launch of the service in the country has not yet been announced: the Starlink Venezuela website still lists it as "coming soon," although some users are already connected.

Free access may partially compensate for communication and electricity outages in Caracas and several states following US strikes and ground operations, the TV channel notes. Washington has announced its intention to oversee the political transition in the country, and the UN Security Council will discuss the legality of US actions on January 6.

— Japan's broad Topix index rose 2.11%, while the Nikkei 225 gained 3% in trading on January 5.

— Hong Kong's Hang Seng Index remained virtually unchanged. Mainland China's CSI 300 Index rose 1.9%.

— In South Korea, the Kospi index rose 3.4%, and the Kosdaq rose 1.26%.

— Australia's S&P/ASX 200 remained virtually unchanged.

— S&P 500 futures rose 0.2%, Nasdaq Composite futures rose 0.46%, and Dow Jones Industrial Average futures rose 0.13%.

This article was AI-translated and verified by a human editor