Tag: Trade/External Payments
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Chinese germanium makers jump after China restricts exports of chip minerals
[ad_1] Shares of Chinese germanium producers hit the daily upward limit early Tuesday on news that Beijing imposed export controls on gallium and germanium, two minerals critical to the production of semiconductors. China-listed Yunnan Lincang Xinyuan Germanium Industrial 002428, +10.00% and state-run Yunnan Chihong Zinc & Germanium 600497, +7.07% rose 10% in early trading, outperforming…
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South Korea returns to trade surplus in June
[ad_1] South Korea returned to a trade surplus in June after 15 consecutive months of deficits, as a decline in exports moderated significantly. Exports fell 6.0% from a year earlier, to $54.24 billion, following a 15.2% drop in May, according to preliminary data released by the country’s trade ministry on Saturday. The median market forecast…
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Bud Light boycott is helping one of the beer’s main rivals, analysts say
[ad_1] The boycott of Bud Light over its partnership with a trans influencer has endured long enough to help one of its parent company’s main rivals, Molson Coors Beverage Co., analysts at BofA said on Tuesday. BofA Global Research analysts upgraded Molson Coors TAP, +2.08% — the brewer behind Coors Light and Miller Lite —…
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Pernod Ricard has ended all exports to Russia, but exit will take ‘some months’
[ad_1] Drinks giant Pernod Ricard has ceased exports of its international brands to Russia but says it will take “some months” to end distribution of its products in the country. The French company was slammed last month over its resumption of exports of iconic brands Jameson whiskey and Beefeater gin to Russia, after having earlier…
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China’s export growth slows in April
[ad_1] China’s exports rose 8.5% in April, beating expectations but cooling from March’s robust growth. The result compared with the median forecast of a 6.0% increase by economists polled by The Wall Street Journal and slowed from the unexpected 14.8% jump in March, data from the General Administration of Customs showed Tuesday. Imports dropped… [ad_2]…
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U.S. trade deficit falls 9% to 4-month low due to shrinking imports
[ad_1] The nation’s trade deficit narrowed 9% in March to a four-month low of $64.2 billion, but shrinking imports point to weaker consumer spending and more stress on the U.S. economy. The trade gap declined from $70.6 billion in February. Key details: Imports fell slightly to a three-month low of $320.4 billion. They are also…
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South Korea’s exports fall for seventh straight month as chip sales plunge
[ad_1] South Korea’s exports fell, on an on-year basis, for a seventh consecutive month in April on weak global demand, their longest losing streak in more than three years. Exports declined 14.2% from a year earlier to $49.62 billion, following a 13.6% drop in March, according to preliminary data released by the country’s trade ministry…
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Japan logs trade deficit in March for 20th straight month
[ad_1] Japan posted a trade deficit for a 20th consecutive month in March, reflecting the effects of a weak yen and high energy prices. The country’s trade deficit hit Y754.5 billion ($5.60 billion) in March, compared with a Y897.7 billion deficit in February, according to data released by the Ministry of Finance on Thursday. Imports…
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Treasury yields ease ahead of retail sales data
[ad_1] Treasury yields were trading mostly steady on Friday, as investors awaited more economic updates, including retail sales, and the start of earnings season. What’s happening? The yield on the 2-year Treasury TMUBMUSD02Y, 3.962% fell 2.1 basis points to 3.96%. Yields move in the opposite direction to prices. The yield on the 10-year Treasury TMUBMUSD10Y,…