Latest news with #JohannaChua
Time of India
9 hours ago
- Business
- Time of India
Chinese exports flood Southeast Asia on US tariffs, Citi says
Vietnam, Thailand and Indonesia are among Asian countries seeing the sharpest surge in Chinese imports as higher US tariffs upend regional trade, according to Citigroup Inc. China's export push in Southeast Asia may be a sign of trade diversion, as direct exports to the US have fallen sharply in recent months, Citi's head of emerging-markets economic research Johanna Chua wrote in a report Tuesday. Bloomberg A flood of — often cheaper — Chinese goods could pose challenges to recipient countries and their local enterprises, Citi said. Indonesia, for one, saw textile imports from China recently reach a new monthly high, adding pressure to a struggling garments sector that's already laid off thousands of workers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Vietnam (Prices May Surprise You) Container House | Search ads Search Now Chinese overall export prices and the price of textile shipments have been falling since early 2023. Exports to the US meanwhile plunged by just over a third in May, the most since 2020, with both countries locked in a heated trade dispute. The record shipments to Southeast Asia could likewise be a sign of transshipment, or China directing goods through other countries to avoid the impact of higher US levies, Citi said. The report noted a 'significant increase in correlation' between Southeast Asian countries' increased Chinese imports and their exports to the US. Live Events Transshipment has been a focal point in Washington's tariff negotiations with Southeast Asian nations such as Vietnam and Thailand, both of whom have pledged to tighten rules on issuing certificates of origin. As the US clamps down on transshipment, 'China may be shifting more of its downstream production to third markets in lieu of US tariff risk, while maintaining its dominance in the supply chain for intermediate goods,' Citi said.
Fashion Network
2 days ago
- Business
- Fashion Network
Chinese exports flood Southeast Asia on US tariffs, Citi says
Vietnam, Thailand and Indonesia are among Asian countries seeing the sharpest surge in Chinese imports as higher US tariffs upend regional trade, according to Citigroup Inc. China's export push in Southeast Asia may be a sign of trade diversion, as direct exports to the US have fallen sharply in recent months, Citi's head of emerging-markets economic research Johanna Chua wrote in a report Tuesday. A flood of — often cheaper — Chinese goods could pose challenges to recipient countries and their local enterprises, Citi said. Indonesia, for one, saw textile imports from China recently reach a new monthly high, adding pressure to a struggling garments sector that's already laid off thousands of workers. Chinese overall export prices and the price of textile shipments have been falling since early 2023. Exports to the US meanwhile plunged by just over a third in May, the most since 2020, with both countries locked in a heated trade dispute. The record shipments to Southeast Asia could likewise be a sign of transshipment, or China directing goods through other countries to avoid the impact of higher US levies, Citi said. The report noted a 'significant increase in correlation' between Southeast Asian countries' increased Chinese imports and their exports to the US. Transshipment has been a focal point in Washington's tariff negotiations with Southeast Asian nations such as Vietnam and Thailand, both of whom have pledged to tighten rules on issuing certificates of origin. As the US clamps down on transshipment, 'China may be shifting more of its downstream production to third markets in lieu of US tariff risk, while maintaining its dominance in the supply chain for intermediate goods,' Citi said.
Bloomberg
2 days ago
- Business
- Bloomberg
Chinese Exports Flood Southeast Asia on US Tariffs, Citi Says
Vietnam, Thailand and Indonesia are among Asian countries seeing the sharpest surge in Chinese imports as higher US tariffs upend regional trade, according to Citigroup Inc. China's export push in Southeast Asia may be a sign of trade diversion, as direct exports to the US have fallen sharply in recent months, Citi's head of emerging-markets economic research Johanna Chua wrote in a report Tuesday.
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Business Standard
07-05-2025
- Business
- Business Standard
Stock market: Sensex, Nifty post modest gains amid India-Pakistan tensions
Domestic benchmark indices managed to post modest gains on Wednesday despite escalating geopolitical tensions between India and Pakistan, following intense fighting between the two nuclear-armed nations. Experts said investor sentiment remained largely positive due to progress on India's trade talks with major trading partners, including a free trade agreement with the UK sealed on Tuesday. The Sensex rose 0.13 per cent, or 106 points, to end at 80,747, while the Nifty 50 index gained 34.8 points, or 0.14 per cent, to close at 24,414. The broader market Nifty Midcap 100 and Nifty Smallcap 100 logged strong gains of 1.6 per cent and 1.4 per cent, respectively. The India VIX index rose just 0.34 per cent to end at 19.1. The Pakistan market, on the other hand, registered a major decline. The benchmark KSE-30 Index, which fell over 6 per cent during the day, ended the session down 3 per cent. Experts said the Indian market reaction did not reflect any signs of panic among investors. While a knee-jerk reaction was not ruled out, they noted that the overall response indicates expectations of swift de-escalation and limited economic fallout. 'We believe Indian assets will remain fairly contained despite the increase in geopolitical tensions with Pakistan,' wrote Johanna Chua, global head of emerging market economics at Citi, in a note. Market participants also drew comfort from past instances of tension with Pakistan. 'Indian equity markets rebounded on all occasions, and hence we believe buy-the-dip is the best strategy in the event the equity market declines,' wrote Bernstein equity strategists Venugopal Garre and Nikhil Arela in a note issued ahead of the market open on Wednesday. Past conflicts between the two neighbours have shown that Indian equities tend to recover quickly from initial shocks. For example, in February 2019, the Nifty index rose over 1 per cent a week after India launched targeted strikes in response to a terrorist attack. 'The risk of a full-scale war between the two neighbours has not been envisaged in our scenarios, although the Kargil war in 1999 suggests that equity markets tend to move up sharply after a deeper cut. The other angle worth exploring is the influence of ongoing global trade changes post the Trump tariffs,' the note added. Despite the terrorist attack at Pahalgam two weeks ago, foreign flows into India have remained strong. During the past 14 trading sessions (beginning April 15), foreign portfolio investors (FPIs) have been consistent buyers, pumping Rs 44,439 crore into domestic stocks—their longest unbroken buying streak in nearly two years. On Wednesday, FPIs bought/sold shares worth Rs xx crore, while domestic institutional investors were buyers to the tune of Rs xx crore. The overall market breadth was positive, with 2,206 stocks advancing and 1,683 declining on the BSE. Only three out of the 17 sectoral indices of the NSE—healthcare, pharma and FMCG—ended with losses. Meanwhile, the top sectoral gainers were Nifty Auto and Nifty Financial Services.
Yahoo
10-04-2025
- Business
- Yahoo
Tariff Uncertainty Could Cause Further Asia Growth Downgrades: Citigroup
Citigroup's Johanna Chua says the uncertainty around President Trump's tariff policy is prompting the firm to downgrade growth forecasts for the likes of China, India, Vietnam and South Korea. Chua tells Bloomberg Television that it's becoming "a rolling exercise" where analysts are waiting as the data unfolds. She adds that further growth downgrades for Asian markets could be on the cards due to "spillovers." Sign in to access your portfolio
