Latest news with #HanaSecurities
Yahoo
29-05-2025
- Business
- Yahoo
South Korea May exports expected to fall as US tariffs offset robust chip demand
By Jihoon Lee SEOUL (Reuters) - South Korea's exports are expected to have fallen in May for the first time in four months, as the impact of U.S. President Donald Trump's tariffs offset strong demand for semiconductors, a Reuters poll showed on Thursday. Exports out of Asia's fourth-largest economy are forecast to have fallen 2.7% this month from a year earlier, according to a median of 16 economists. That would be the first year-on-year decline since January. South Korea - the first major exporting economy to report trade figures each month - is scheduled to release data for May on Sunday, June 1, at 9 a.m. (0000 GMT). In April, exports unexpectedly rose 3.7%, even as U.S.-bound shipments dropped 6.8%. Robust chip sales, especially those of high-end products for artificial intelligence, offset declines in cars hit by Trump's tariffs. "Semiconductor exports have been stronger than expected in May, but that might be due to advance orders amid worries about U.S. tariffs on chip imports," said Chun Kyu-yeon, an economist at Hana Securities. In the first 20 days of this month, exports fell 2.4%, with shipments to the U.S. dropping 14.6% and those to China declining 7.2%. Trump has imposed 25% duties on imports of automobiles and steel products and suggested more duties on semiconductors and pharmaceuticals. His reciprocal tariffs announced in early April, including 25% levies on South Korea, are currently on pause for negotiations, except the 10% baseline. In May, Washington and Beijing agreed to pause their trade war by unwinding most of the tariffs on each other's goods for 90 days. "What is concerning is that we are seeing declines in exports not only to the United States, but also to China, suggesting a slowdown in global trade," said Stephen Lee, an economist at Meritz Securities. Lee expects South Korea's exports to fall in the second quarter, after they declined for the first time in 1-1/2 years in the prior quarter. "It is still too early to declare a clear easing of tariff risks," said Oh Suk-tae, an economist at Societe Generale, noting uncertainty around the July 9 and August 12 deadlines for the 90-day pause on reciprocal tariffs and a truce with China. South Korea's imports are projected to have fallen 3.1% in May, after dropping 2.7% in April, according to the survey conducted on May 19-28. The median estimate for the country's trade balance stood at a surplus of $4.61 billion, compared with $4.88 billion in the previous month. 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
Reuters
29-05-2025
- Business
- Reuters
South Korea May exports expected to fall as US tariffs offset robust chip demand
SEOUL, May 29 (Reuters) - South Korea's exports are expected to have fallen in May for the first time in four months, as the impact of U.S. President Donald Trump's tariffs offset strong demand for semiconductors, a Reuters poll showed on Thursday. Exports out of Asia's fourth-largest economy are forecast to have fallen 2.7% this month from a year earlier, according to a median of 16 economists. That would be the first year-on-year decline since January. South Korea - the first major exporting economy to report trade figures each month - is scheduled to release data for May on Sunday, June 1, at 9 a.m. (0000 GMT). In April, exports unexpectedly rose 3.7%, even as U.S.-bound shipments dropped 6.8%. Robust chip sales, especially those of high-end products for artificial intelligence, offset declines in cars hit by Trump's tariffs. "Semiconductor exports have been stronger than expected in May, but that might be due to advance orders amid worries about U.S. tariffs on chip imports," said Chun Kyu-yeon, an economist at Hana Securities. In the first 20 days of this month, exports fell 2.4%, with shipments to the U.S. dropping 14.6% and those to China declining 7.2%. Trump has imposed 25% duties on imports of automobiles and steel products and suggested more duties on semiconductors and pharmaceuticals. His reciprocal tariffs announced in early April, including 25% levies on South Korea, are currently on pause for negotiations, except the 10% baseline. In May, Washington and Beijing agreed to pause their trade war by unwinding most of the tariffs on each other's goods for 90 days. "What is concerning is that we are seeing declines in exports not only to the United States, but also to China, suggesting a slowdown in global trade," said Stephen Lee, an economist at Meritz Securities. Lee expects South Korea's exports to fall in the second quarter, after they declined for the first time in 1-1/2 years in the prior quarter. "It is still too early to declare a clear easing of tariff risks," said Oh Suk-tae, an economist at Societe Generale, noting uncertainty around the July 9 and August 12 deadlines for the 90-day pause on reciprocal tariffs and a truce with China. South Korea's imports are projected to have fallen 3.1% in May, after dropping 2.7% in April, according to the survey conducted on May 19-28. The median estimate for the country's trade balance stood at a surplus of $4.61 billion, compared with $4.88 billion in the previous month.
Yahoo
29-04-2025
- Automotive
- Yahoo
South Korea exports seen falling as Trump's tariffs start to weigh: Reuters poll
By Jihoon Lee SEOUL (Reuters) - South Korea's exports are expected to have fallen in April, as U.S. President Donald Trump's sweeping tariffs, including those on autos and steel, started to weigh, a Reuters poll found on Tuesday. South Korea is the first major exporting economy to report trade figures each month, providing an early look at the state of global trade. Exports out of Asia's fourth-largest economy are forecast to have fallen 2.0% this month from a year earlier, after a rise of 3.0% last month, according to a median of 22 economists in the survey conducted on April 23-28. That would be the first year-on-year loss in three months. In January, exports dropped 10.1%, which was aggravated by unfavourable calendar effects from the timing difference in Lunar New Year holidays. Trump imposed 25% tariffs on auto imports from April 3, after introducing 25% duties on steel imports from March 4. His 10% blanket tariffs also took effect from April 5, while higher "reciprocal" tariffs on major countries, including 25% duties on South Korea, are currently paused for 90 days. "The impact of tariffs is starting to show up, not only on soft data, but also on hard data," said Stephen Lee, an economist at Meritz Securities. Chun Kyu-yeon, an economist at Hana Securities, also said: "There is a possibility that the adverse effects of tariffs are starting to come into reality." "And, there will be further downward pressure from upcoming tariffs on auto parts and semiconductors as well as ongoing trade conflict between the U.S. and China," Chun added. Still, the chip sector, South Korea's biggest export item, remained resilient at least this month, likely providing some support to the headline figure, economists noted. In the first 20 days of this month, exports fell 5.2%, as automobiles and steel products dropped 6.5% and 8.7%, respectively, whereas semiconductors rose 10.7%. By destination, shipments to the United States dropped 14.3%, while those to China fell 3.4%. South Korean automakers are turning more pessimistic about the outlook for the sector due to tariffs, but chipmakers are optimistic amid robust demand, according to the country's central bank. Meanwhile, imports are projected to have fallen 7.0% in April, according to the survey. That would be the biggest drop since June 2024. The median estimate for the country's trade balance stood at a surplus of $4.35 billion, narrower than the previous month's $4.92 billion. South Korea is scheduled to report trade figures for April on Thursday, May 1, at 9 a.m. (0000 GMT). Sign in to access your portfolio
Reuters
29-04-2025
- Automotive
- Reuters
South Korea exports seen falling as Trump's tariffs start to weigh
SEOUL, April 29 (Reuters) - South Korea's exports are expected to have fallen in April, as U.S. President Donald Trump's sweeping tariffs, including those on autos and steel, started to weigh, a Reuters poll found on Tuesday. South Korea is the first major exporting economy to report trade figures each month, providing an early look at the state of global trade. here. Exports out of Asia's fourth-largest economy are forecast to have fallen 2.0% this month from a year earlier, after a rise of 3.0% last month, according to a median of 22 economists in the survey conducted on April 23-28. That would be the first year-on-year loss in three months. In January, exports dropped 10.1%, which was aggravated by unfavourable calendar effects from the timing difference in Lunar New Year holidays. Trump imposed 25% tariffs on auto imports from April 3, after introducing 25% duties on steel imports from March 4. His 10% blanket tariffs also took effect from April 5, while higher "reciprocal" tariffs on major countries, including 25% duties on South Korea, are currently paused for 90 days. "The impact of tariffs is starting to show up, not only on soft data, but also on hard data," said Stephen Lee, an economist at Meritz Securities. Chun Kyu-yeon, an economist at Hana Securities, also said: "There is a possibility that the adverse effects of tariffs are starting to come into reality." "And, there will be further downward pressure from upcoming tariffs on auto parts and semiconductors as well as ongoing trade conflict between the U.S. and China," Chun added. Still, the chip sector, South Korea's biggest export item, remained resilient at least this month, likely providing some support to the headline figure, economists noted. In the first 20 days of this month, exports fell 5.2%, as automobiles and steel products dropped 6.5% and 8.7%, respectively, whereas semiconductors rose 10.7%. By destination, shipments to the United States dropped 14.3%, while those to China fell 3.4%. South Korean automakers are turning more pessimistic about the outlook for the sector due to tariffs, but chipmakers are optimistic amid robust demand, according to the country's central bank. Meanwhile, imports are projected to have fallen 7.0% in April, according to the survey. That would be the biggest drop since June 2024. The median estimate for the country's trade balance stood at a surplus of $4.35 billion, narrower than the previous month's $4.92 billion. South Korea is scheduled to report trade figures for April on Thursday, May 1, at 9 a.m. (0000 GMT).
Korea Herald
03-04-2025
- Business
- Korea Herald
Hana Securities to launch Korea's first cross-border stock trading service
South Korea's Financial Services Commission announced Wednesday that foreign investors will soon be able to directly invest in Korean stocks through local brokerage firms overseas. Hana Securities, which has received a regulatory exemption under the FSC's financial innovation program, will be the first to launch the service following a system development period of approximately two months. Once implemented, investors in Hong Kong will be able to trade Korean stocks using accounts at Emperor Securities Ltd, a local brokerage. FSC is also in talks with firms in Singapore, Taiwan and Japan to expand the offering. The change will allow foreign investors to open Korean securities accounts via partner brokerages in their home countries, significantly improving access to Korea's stock market. 'Non-resident foreigners will be able to place and settle trades through an integrated foreign investor account, without needing to open a separate Korean account,' an FSC official said. 'This will enhance convenience, expand the investor base, and encourage capital inflow into Korea's stock market.' Previously, only overseas brokerages affiliated with Korean securities firms were allowed to use this system. The updated framework eliminates that restriction, reviving the foreign investor integrated account system, which was introduced in 2017 but remained largely unused due to regulatory limitations. To support implementation and oversight, the Financial Supervisory Service plans to formalize contracts between domestic and overseas brokerages and issue operational guidelines covering reporting standards, customer verification and account management procedures.
