Japan's Nippon Steel is considering proposing a bold change in plan from its previous approach of seeking to buy U.S. Steel, Chief Cabinet Secretary Yoshimasa Hayashi said on Monday, though the company declined to comment.

Days after a surprise announcement from President Donald Trump about a $14.9 billion deal, the companies involved have remained mum.

President Trump supports the Japanese company’s taking a stake in the American steel maker after the U.S. blocked a $14 billion takeover bid.

Global hedge funds have been snapping up Chinese stocks for much of this year, with their buying accelerating in the past week as the emergence of homegrown artificial intelligence startup DeepSeek fueled investor enthusiasm, Goldman Sachs said in a note.

Nippon Steel has not commented on U.S. President Donald Trump's declaration that no majority stake could be held in U.S. Steel. Trump's comments suggested the bid would be in the form of an investment rather than a purchase,

Nippon Steel will make a "bold proposal" in its effort to invest in US Steel, Japan's top government spokesperson said on Monday.

Nippon Steel , Japan's biggest steelmaker, said on Thursday its proposed acquisition of U.S. Steel fits with President Donald Trump's goal of a stronger United States as the leaders of the two allies prepared to meet.