
Port cargo in China hits 5.75 bn tonnes in early 2025
Cargo throughput at ports in China totalled 5.75 billion tonnes during the first four months of 2025, up 3.7 per cent year on year (YoY), according to data from the Ministry of Transport.
Container throughput, a leading gauge of trade health, increased by 7.9 per cent YoY during the January-April period to reach 110 million twenty-foot equivalent units (TEUs).
In April alone, the country's cargo throughput at ports rose by 4.8 per cent to 1.53 billion tonnes compared to the same month last year. However, the pace of growth slightly eased from the 4.9 per cent increase recorded in March.
China's port cargo throughput reached 5.75 billion tonnes in Januaryâ€'April 2025, up 3.7 per cent YoY, while container throughput rose 7.9 per cent to 110 million TEUs, according to the Ministry of Transport. April cargo volume grew 4.8 per cent. Separately, China's May manufacturing PMI rose to 49.5, with new orders improving, signalling strengthened market expectations.
China's purchasing managers' index (PMI) for the manufacturing sector edged up to 49.5 in May from 49 in April, with the sub-index for new orders rising to 49.8 from 49.2, as production accelerated and market expectations strengthened, according to separate data from the National Bureau of Statistics (NBS).
Fibre2Fashion News Desk (HU)

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)

Business Standard
an hour ago
- Business Standard
Gold price outlook: Analyst suggests buying on dips; key levels to watch
Gold: Consolidating its gains Performance: Following a sharp rally of 2.33 per cent on Monday, Spot gold prices corrected lower on Tuesday as the US dollar recovered. Gold surged sharply higher on June 2, helped by a weaker dollar and renewed safe-haven demand triggered by escalating US-China tensions and Ukraine's massive drone attack on Russia. On June 3, gold, at the time of writing this report, was changing hands at $3,349, down around 1 per cent on the day, while MCX August gold at ₹97,649 was down roughly 0.31 per cent. The yellow metal was lower as the US dollar index strengthened and risk appetite, despite mostly negative news flow, remained healthy. US-China tensions escalate: On June 2, China accused the US of violating the US-China trade truce as the US imposed further chip technology curbs and halted the export of critical US jet engine parts and technology to China. It also plans to broaden restrictions on China's tech sector with new regulations to capture subsidiaries of companies under US curbs. The US also intends to revoke visas for Chinese students with connections to China's Communist Party and security issues. According to the White House, US President Trump and Chinese President Xi are likely to speak this week. Data roundup: US data released on June 3, were mostly mixed, markets gave more weightage to the JOLTs job openings though. Factory order (April) came in -3.7 per cent against the forecast of -3.2 per cent as the prior data was revised lower from 4.3 per cent to 3.4 per cent. Durable goods order (April final) at -6.3 per cent were in line with the forecast. JOLTs job openings (April) surprisingly beat the forecast as openings rose from 72,00,000 to 73,91,000 as against the forecast of 71,00,000. However, the internals of the JOLTs report was not so encouraging as layoffs increased from 1 per cent to 1.1 per cent and the quits rate dropped from 2.1 per cent to 2 per cent indicating reduced prospects of finding a new job. In addition, vacancies in industries like manufacturing and food services declined. The Euro-zone's inflation cooled more than expected as consumer prices rose 1.9 per cent y-o-y in May, trailing the forecast of 2 per cent; the reading was cooler than the prior data of 2.2 per cent. The data bolsters the case for the ECB cutting its key rates by 25 bps in its monetary policy meeting to be held on June 5. Elsewhere, China's Caixin manufacturing PMI (May) fell to 48.3, the lowest since September 2022, from 50.40 in April as trade frictions weighed on the nation's manufacturing sector. CATCH STOCK MARKET LIVE UPDATES TODAY US dollar index and yields: The US dollar index, at the time of writing, was 99.24, up around 0.60 per cent on the day, as the Index recovered from a six-week low ahead of the US ISM services and nonfarm payroll reports. US 10-year yields at 4.46 per cent were up by nearly 0.50 per cent OECD's warning: The OECD slashed its global economic forecasts on trade war leading to uncertainty on business confidence and investment. The organisation sees global economic growth at 2.9 per cent in 2025 from its earlier forecast of 3.1 per cent made in March as the US growth is expected to be 1.6 per cent as compared to its earlier estimate of 2.2 per cent. The OECD forecasts a global growth of 2.9 per cent in 2026, down from the previous forecast of 3 per cent. The organisation warned that fiscal risks are intensifying around the world with tremendous pressure for spending on defence, climate, and aging population. ETF: Total known global gold ETF holdings rose to 88.336MOz on June 2, which is the highest level since May 15. Gold ETFs recorded their first weekly inflow last week after five consecutive weekly outflows. Holdings are up nearly 6.6 per cent year-to-date (Y-T-D). Central Banks' gold buying: Global central banks bought a net 12 tons in April, 12 per cent lower than the previous month. Slower pace of buying could be due to high gold prices in April. Upcoming data: Today's US data on the card include crucial ADP employment change (May) and ISM services (May). Fed will release its beige book, too. Outlook: Spot gold is likely to range trade ahead of the US ISM services and nonfarm payroll reports. US-China tensions and worries over fiscal issues are likely to support the metal. It is advisable to 'buy the dips' for a possible test of $3,435 (₹1,00,000) resistance unless there is a clear improvement in US-China talks or the US nonfarm payroll report is stronger than expected. Support is at $3,325 (₹96,900)/$3,292 (₹95,900). Resistance is at $3,372 (₹98,300)/$3400 (₹99,100)/$3,415 (₹99,500).


Mint
2 hours ago
- Mint
Indian stock market: 7 key things that changed for market overnight - Gift Nifty, US employment to gold prices
Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open flat on Thursday amid mixed global market cues. Asian markets traded mixed, while the US stock market ended mostly higher on weak economic data. On Wednesday, the Indian stock market ended higher and the benchmark indices snapped their three-day losing run. The Sensex gained 260.74 points, or 0.32%, to close at 80,998.25, while the Nifty 50 settled 77.70 points, or 0.32%, higher at 24,620.20. 'The pause in the index can largely be attributed to the stability in banking stocks and a noticeable cool-off in the India VIX. However, participants are advised not to read too much into this move and should maintain a cautious stance ahead of the weekly expiry on Thursday. Additionally, focus should remain on a stock-specific trading approach, given the rotational buying observed across various themes,' said Ajit Mishra – SVP, Research, Religare Broking Ltd. Here are key global market cues for Sensex today: Asian markets traded mixed on Thursday, following a similar move on Wall Street overnight. Japan's Nikkei 225 fell 0.39% while the Topix declined 0.63%. South Korea's Kospi rose 0.75%, and the Kosdaq gained by 0.28%. Hong Kong's Hang Seng index futures indicated a flat open. Gift Nifty was trading around 24,731 level, a premium of nearly 2 points from the Nifty futures' previous close, indicating a flat start for the Indian stock market indices. US stock market ended mixed, while Treasury yields dropped on Wednesday amid weak economic data. The Dow Jones Industrial Average declined 91.90 points, or 0.22%, to 42,427.74, while the S&P 500 rose 0.44 points, or 0.01%, to 5,970.81. The Nasdaq Composite closed 61.53 points, or 0.32%, higher at 19,460.49. Tesla share price fell 3.5%, Nvidia stock price rose 0.5%, Hewlett Packard Enterprise shares gained 0.8%, while GlobalFoundries stock added 2.3%. Wells Fargo share price declined 0.4%, CrowdStrike shares slumped 5.8% and Dollar Tree stock price dropped 8%. US private employers added the fewest number of workers in more than two years in May. Private payrolls increased by only 37,000 jobs last month, the smallest gain since March 2023, after a downwardly revised rise of 60,000 in April, the ADP National Employment Report showed. Economists polled by Reuters had forecast private employment would advance by 110,000 following a previously reported increase of 62,000 in April. The US services sector contracted for the first time in nearly a year in. The Institute for Supply Management (ISM) said its non-manufacturing purchasing managers index (PMI) dropped to 49.9 last month, the first decline below the 50 mark and lowest reading since June 2024, from 51.6 in April. Economists polled by Reuters had forecast the services PMI rising to 52.0. Crude oil prices fell after a build in US gasoline and diesel inventories and Saudi Arabia's cut to its July prices for Asian crude buyers, Reuters reported. Brent crude futures fell 0.25% to $64.70 a barrel, while US West Texas Intermediate crude declined 0.41% to $62.59. Gold prices traded higher as weaker-than-expected US economic data spurred demand for safe-haven assets. Spot gold price rose 0.1% to $3,377.79 an ounce, while US gold futures gained 0.1% to $3,401.20. (With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.


Economic Times
11 hours ago
- Economic Times
US service sector unexpectedly contracts in May; inflation heats up
Tired of too many ads? Remove Ads The US services sector contracted for the first time in nearly a year in May while businesses paid higher prices for inputs, a reminder that the economy remained in danger of experiencing period of very slow growth and high inflation. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing purchasing managers index (PMI) dropped to 49.9 last month, the first decline below the 50 mark and lowest reading since June 2024, from 51.6 in polled by Reuters had forecast the services PMI rising to 52.0 following some easing in trade tensions between the United States and China. A PMI reading below 50 indicates contraction in the services sector, which accounts for more than two-thirds of the economy. The ISM associates a PMI reading above 48.6 over time with growth in the overall economy. The ISM on Monday reported that manufacturing contracted for a third straight month in May, with suppliers taking the longest time in nearly three years to deliver inputs amid tariffs. President Donald Trump's import duties, which at times have been implemented in a disorderly manner, have sowed confusion among businesses. Economists say the tariff uncertainty was making it difficult for businesses to plan ahead. Businesses from retailers, airlines to motor vehicle manufacturers have either withdrawn or refrained from giving financial guidance for 2025. While economists do not expect a recession this year, stagflation is on the radar of many. The ISM survey's new orders measure dropped to 46.4 from 52.3 in April, likely with the ebbing of the boost from front-running related to tariffs. Services sector customers viewed their inventory as too high in relation to business requirements, which does not bode well for activity in the near delivery performance continued to worsen. This, together with lengthening delivery times at factories, points to strained supply chains that could drive inflation higher through shortages. Businesses are also seeking to pass on tariffs, which are a tax, to consumers. The ISM survey's supplier deliveries index for the services sector rose to 52.5 from 51.3 in April. A reading above 50 indicates slower deliveries.A lengthening in suppliers' delivery times is normally associated with a strong economy. Delivery times are, however, likely getting longer because of bottlenecks in the supply chains. That was reinforced by a surge in the survey's measure of prices paid for services inputs to 68.7, the highest level since November 2022, from 65.1 in April. Most economists anticipate the tariff hit to inflation and employment could become evident by summer in the so-called hard economic data. Services sector employment picked up. The survey's measure of services employment rose to 50.7 from 49.0 in government is expected to report on Friday that nonfarm payrolls increased by 130,000 jobs in May after advancing by 177,000 in April, a Reuters survey of economists showed. The unemployment rate is forecast to hold steady at 4.2%, with greater risks of a rise to 4.3%.