Latest news with #MeritzSecurities
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
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).
Yahoo
12-03-2025
- Business
- Yahoo
The M5 iPad Pro launch may have less focus on feature upgrades
If you were looking to save money on an iPad Pro with an OLED display, you can go ahead and invest in the M4 iPad Pro because the M5 iPad Pro might not have any new features to set it apart from its predecessor. Details from the research firm, Meritz Securities suggest that upgrades for the upcoming professional-tier iPad may primarily come down to the M5 chip, with Apple expected to save bigger feature overhauls for subsequent generations of the tablet series. Leaker @Jukanlosreve broke down the firm's research note on X, which explains its observations of Apple's current business timeline. The brand introduced its OLED display on the M4 iPad last year as a highlight feature, which reduced the weight and thickness of the tablet but subsequently increased the price. The coming M5 chip, based on the 3nm 'N3P' node is expected to give the tablet only a minimal improvement over the previous model. With other aspects, such as design expected to remain relatively the same, Apple may also have modest outlooks on its production of OLED displays for the iPad Pro. Working with Samsung Display and LG Display to produce OLED panels for the tablet, the sources originally projected a need for over 9 million OLED panels to supply 11-inch and 12.9-inch iPad Pro models combined. The manufacturers ended up shipping approximately 5.7 million units to Apple. Wccftech noted that Apple may delay the launch of the M5 iPad Pro until after it announces the M5 MacBook Pro. If accurate the M5 iPad Pro may not see a launch until 2026. However, this could be a benefit as the Pro-level devices would be priced similarly and could easily cannibalize one another. Notably, Apple unveiled the tablet ahead of the laptop in 2024 to showcase the then-new technology. Analysts have indicated that the M5 MacBook Pro may also be a lackluster upgrade until Apple introduces an OLED display to the Pro laptop line in future generations. However, other reports suggest that Apple may use the M5 line as an opportunity to bring in a complete software refresh across all its platforms, including macOS, iPadOS, and iOS that is practical and consistent in terms of look and function. The overhaul is expected to be inspired by the VisionOS software that powers the Vision Pro headset.
