Seymour: Uncertainty has made international investing more interesting
Tim Seymour, founder of Seymour Asset Management, says global uncertainty has boosted international investing, with strong opportunities in India, Japan, and select Chinese tech stocks like Alibaba.
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17 minutes ago
China's exports climb 4.8% in May as shipments to the US fall nearly 10%
China's exports rose 4.8% in May from a year earlier, a bit lower than expected, as shipments to the United States fell nearly 10%, according to data released Monday just hours ahead of another round of trade talks between the U.S. and China. Imports declined 3.4% year-on-year, leaving a trade surplus of $103.2 billion. China exported $28.8 billion to the United States in May, while its imports from the U.S. fell 7.4% to $10.8 billion, the report said. Still, exports to Southeast Asia and the European Union remained robust, growing 14.8% and 12%, year-on-year. 'The acceleration of exports to other economies has helped China's exports remain relatively buoyant in the face of the trade war,' Lynne Song of ING Economics said in a commentary. Still, trade slowed in May from an 8.1% jump in China's global exports in April. Many businesses had rushed orders to try to beat higher tariffs, even as some new import duties took effect or remained in place. Exports will likely rebound somewhat in June thanks to a 90-day suspension of most of the tariffs China and the U.S. imposed on each other in their escalating trade war. 'But with tariffs likely to remain elevated and Chinese manufacturers facing broader constraints on their ability to sustain rapid gains in global market share, we think export growth will slow further by year-end,' Zichun Huang of Capital Economics said in a report. Despite the tariffs truce, the rancor between Beijing and Washington has persisted, with angry exchanges over advanced semiconductors, 'rare earths' that are vital to many industries and visas for Chinese students at American universities. The next round of negotiations was due to take place later Monday in London, following a phone call last week between Trump and Chinese leader Xi Jinping. Other data released Monday highlight the pressure on the world's second largest economy from slowing exports, since China imports many of the components and materials needed for the goods it assembles for the world. But at the same time, China's own domestic markets are suffering. The government reported that consumer prices fell 0.1% in May, evidence of sluggish demand. The persisting deflation partly reflects lower food prices, economists said. Producer price deflation was worse, contracting 3.3% in May, its lowest level in almost two years, after falling 2.7% in April.
Yahoo
22 minutes ago
- Yahoo
China exports slow and deflation deepens as tariffs bite
STORY: There were more signs Monday that U.S. tariffs are starting to bite in China. New figures showed exports rising just 4.8% on the month in May. That was well down on April, and the slowest rate for three months. Imports also tumbled far more than expected. Overseas shipments had surged earlier in the year, as U.S. firms rushed to stock up on Chinese-made goods before the tariffs kicked in. That meant some slowdown had been expected later in the year, but May's figure was still worse than forecast. One analyst said exports were probably also hit by tough customs inspections, with China looking to enforce its own curbs on shipments to the U.S. Monday's figures also showed declines in Chinese imports of oil, coal and iron ore - adding to signs of weak demand at home. That also showed up in producer and consumer price data. Both extended declines, with producer prices dropping 3.3% in May - the sharpest contraction in 22 months. In a symbol of the sagging demand, U.S. coffee chain Starbucks said Monday it would lower prices in China for some iced drinks. Now the numbers are likely to increase pressure on policymakers to step in with more stimulus measures. Beijing last month rolled out moves including cuts to benchmark interest rates, with more steps now widely expected over the course of this year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
an hour ago
- CNBC
Treasury yields inch lower ahead of U.S.-China trade talks in London
Treasury yields have broadly stayed flat as investors await trade talks between Washington and Beijing on Monday. The 10-year Treasury yield was down by 1 basis point to 4.50% at 1.45 a.m. ET. The 2-year yield was lower by 3 basis points to 4.01%, while the 30-year bond yield was flat at 4.97%. One basis point equals 0.01%. Yields and prices move inversely in the bond market. On Friday, President Donald Trump said Treasury Secretary Scott Bessent and two other Trump administration officials will meet with their Chinese counterparts in London on Monday for renewed trade talks. Bessent, who has been leading the administration's efforts to craft a deal with Beijing, will be joined by Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, Trump said. Chinese Vice Premier He Lifeng will hold the first round of trade and economic talks with the U.S. during his trip to the U.K. from Sunday to Friday, China's Ministry of Foreign Affairs said Saturday. He represented Beijing during bilateral talks with Washington in Switzerland last month and is China's lead trade negotiator. U.S. inflation data is expected to be a key topic later in the week. The latest consumer price index is due out on Wednesday, followed by the producer price index on Friday. Traders will be looking for clues about how the current tariff rates are affecting the economy.
