Thailand car production rises 12% y/y in June
The increase followed a year-on-year rise of 10.32% in May.
Thailand is Southeast Asia's biggest auto production centre and an export base for some of the world's top carmakers, including Toyota (7203.T), opens new tab and Honda (7267.T), opens new tab.
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The Independent
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China's exports and imports picked up in July, helped by the pause in Trump's higher tariffs
China 's exports surged 7.2% in July from a year earlier while its imports grew at the fastest pace in a year, as businesses rushed to take advantage of a truce in President Donald Trump' s trade war with Beijing. However, analysts said the improvement also reflected a low base for comparison in July 2024. Exports to the United States sank nearly 22% year-on-year, while imports from America fell almost 19%. But exports to Africa and Southeast Asia surged at double-digit rates as Chinese businesses diverted sales to other markets. Tariffs on Chinese goods are being considered separately from the new higher tariffs that took effect on Thursday for dozens of U.S. trading partners. China's global trade surplus for 2025 rose to $683.5 billion by the end of July, nearly a third higher than the surplus for the same period last year. The data showed that China's surplus in July was $98.2 billion, while its exports to the United States were $23.7 billion than its imports of U.S. goods. U.S. imports from China are subject to tariffs of at least 30%, with some products facing much higher import duties. Trump earlier had ordered still higher rates of up to 245%, and Beijing responded in kind, but the two sides agreed to pause those to allow time for trade talks. It's unclear if the truce will be extended beyond an Aug. 12 deadline following the latest round of negotiations last week in Sweden. The Trump administration has also raised tariffs on imports from countries other than China that it suspects of being 'transshipped" via other countries. For example, the import duty on Vietnam's exports to the U.S. now stands at 20%. For transshipped goods, it's 40%. 'With the temporary boost to demand from the U.S.-China trade truce already fading and tariffs on shipments rerouted via other countries now rising, exports look set to remain under pressure in the near term,' Zichun Huang of Capital Economics said in a report. Economists had been expecting China's dollar-denominated exports to grow less than 6% in annual terms in July, on a par with June's 5.8% rate. But improved trade with the rest of the world has helped offset the impact of Trump's trade war. Imports rose 4.1% last month from a year earlier, the most since July 2024, with higher shipments of crude oil, copper and soybeans. China's exports of rare earths that are vital for making many high-tech and other products and Trump has made ensuring U.S. access to such vital minerals a key part of trade negotiations, leading Beijing to promise to loosen some controls. In July, China's exports of rare earths fell 17.6%, compared with a nearly 50% fall the month before. In January-July, its rare earths exports fell 24.2% in dollar terms although they rose more than 13 percent by volume. Exports of vehicles, fertilizer, ships and auto parts also saw strong growth.
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Aug 6 (Reuters) - Foreign investors flocked to Asian stocks for the third straight month in July, with inflows into Taiwan hitting a near two-decade high and Thailand snapping its nine-month losing streak, buoyed by growth and AI prospects as trade worries fluctuate. Foreign inflows into most Asian equity markets have stabilised over the past three months as countries clinched better trade arrangements with the United States, calming tariff-related volatility and uncertainty in financial markets. Overseas investors showed strong interest in Taiwan and South Korea for the third straight month in July, pouring $7.78 billion in Taiwan, the highest since the 2008 global financial crisis, and $4.52 billion in South Korea, the most since February last year, LSEG data showed. The MSCI gauge of equities in Asia excluding Japan (.MIAPJ0000PUS), opens new tab rose 2% last month, its fifth consecutive month in green, while benchmarks in Taipei (.TWII), opens new tab and Seoul (.KS11), opens new tab advanced roughly 6% each. Taiwan and South Korea were the top destinations in the region for foreign capital, securing a cumulative $25.7 billion over the past three months as the two dominant Asian tech exporters benefit from a global surge in AI-related investments. South Korea's shareholder-friendly reforms, political stability, and robust corporate fundamentals lured investors in 2025 after a dreary performance last year, though recent concerns over reforms to tax policy are posing new challenges. Foreign investors also net bought $499 million worth of Thai equities in July, the first month of inflows since September last year, as they scooped up stocks at relatively cheap valuations after a prolonged period of heavy selling. Even so, Thailand's uncertain political climate, challenging macroeconomic conditions, and an unnecessarily strong currency that undermines export competitiveness continue to impede any buildup of positions on these equities. Thailand's benchmark SET index (.SETI), opens new tab surged 14% in July — its best month since November 2020 — but still not enough to erase steep losses suffered earlier in the year. The index remains 10% in the red, ranking among the region's worst performers. "We are cautious and underweight on Thailand as it remains in a fairly precarious position: high household debt, limited government spending, an uncertain political environment, and external negative events such as the conflict with Cambodia," said Kenneth Tang, senior portfolio manager at Nikko Asset Management. "If Thailand can settle these issues, it will clear up the path for its recovery." Indian stocks experienced sharp outflows of over $2 billion in July, the highest since February this year and snapping a three-month streak of net purchases. Indonesia and the Philippines also logged net outflows of $570 million and $29 million, respectively, last month, while Vietnam attracted $326 million as investors bet on the country's strong growth prospects after it secured a comfortable tariff rate with the United States.
