Latest news with #Samsung Electronics
Globe and Mail
16 hours ago
- Business
- Globe and Mail
Global shares are mostly higher as investors focus on US trade talks with China
TOKYO (AP) — Global shares were mixed Tuesday at the outset of a second day of trade talks between Chinese and U.S. officials. France's CAC 40 jumped 1.1% in early trading to 7,887.57, while the German DAX rose 1.0% to 24,191.38. Britain's FTSE 100 added 0.3% to 24,191.38. The future for the S&P 500 was up 0.2%. The future for the Dow Jones Industrial Average edged 0.1% higher. Japan's benchmark Nikkei 225 fell 0.8% to 40,674.55 on broad selling of major companies including automakers and big banks. Toyota Motor Corp. dipped 2.3% and Honda Motor Co. fell 2.1%. Sumitomo Mitsui Financial Group finished 1.8% lower, while Mitsubishi UFJ Financial Group stock dipped 1.6%. Hong Kong's Hang Seng dropped 0.2% to 25,524.45, while the Shanghai Composite gained 0.3% to 3,609.71. Analysts said investors were watching for the latest from U.S. President Donald Trump and U.S. trade talks with talks with China in Stockholm. U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng were meeting in the Swedish capital. 'Aside from addressing economic imbalances, tariffs are also now well entrenched in the geo-political arena,' Tan Boon Heng of the Asia & Oceania Treasury Department at Mizuho Bank said in a commentary. Australia's S&P/ASX 200 edged 0.1% higher to 8,704.60. South Korea's Kospi gained 0.7% to 3,230.57. Samsung Electronics edged 0.3% higher after jumping nearly 7% on Monday on news that it signed a deal with Tesla to provide computer chips for its electric vehicles. This week will bring a flurry of potentially market-moving data releases, corporate earnings and an interest rate decision by the Federal Reserve. The widespread expectation on Wall Street is that Fed officials will wait until September to resume cutting interest rates, though a couple of Trump's appointees could dissent in the vote. The Fed has been on hold with interest rates this year since cutting them several times at the end of 2024. On Monday, the S&P 500 was nearly flat, edging up by less than 0.1% to 6,389.77 and setting an all-time high for a sixth straight day. The Dow dipped 0.1% to 44,837.56, while the Nasdaq composite added 0.3% to its own record, closing at 21,178.58. Hundreds of U.S. companies are lined up to report how much profit they made during the spring, with nearly a third of the businesses in the S&P 500 index scheduled to deliver updates. Companies are broadly under pressure to deliver solid growth in profits following big jumps in their stock prices the last few months. Much of the gain was due to hopes that Trump would walk back some of his stiff proposed tariffs, and critics say the U.S. stock market looks expensive unless companies will produce bigger profits. In energy trading, benchmark U.S. crude jumped 50 cents to $67.21 a barrel. Brent crude, the international standard, gained 47 cents to $69.79 a barrel. In currency trading, the U.S. dollar fell to 148.53 Japanese yen from 148.56 yen. The euro cost $1.1567, down from $1.1589.
Yahoo
19 hours ago
- Business
- Yahoo
Samsung Electronics chief heads to Washington to support US trade talks, Yonhap says
SEOUL (Reuters) -The chairman of Samsung Electronics, Jay Y. Lee, boarded a flight to Washington on Tuesday, the Yonhap News Agency reported. Yonhap said Lee is expected to support trade talks between South Korea and the United States during the trip. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Bloomberg
2 days ago
- Business
- Bloomberg
S&P 500 Rises With EU Deal Sealed Ahead of Data, Earnings Frenzy
US equities extended their climb on Monday as a weekend trade deal with the European Union fueled optimism ahead of a jam-packed week of earnings scorecards from Big Tech, economic data and a Federal Reserve meeting. The S&P 500 Index edged up 0.1% as of 9:40 a.m. in New York, while the technology-heavy Nasdaq 100 Index rose 0.3%. In individual movers, Samsung Electronics Co. said it would produce AI semiconductors for Tesla Inc. in a $16.5 billion pact. ASML Holding 's US-listed shares climbed following the announcement.
Wall Street Journal
2 days ago
- Business
- Wall Street Journal
Trump and EU Reach Trade Agreement - Minute Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Kate Bullivant: Here's your Morning Brief for Monday, July 28th. I'm Kate Bullivant for The Wall Street Journal. The world's two biggest trade partners, the U.S. and the European Union, reached a trade deal yesterday, setting a 15% baseline tariff for European goods. It's the largest deal President Trump has announced so far as he tries to remake the global trading system. In return, the EU has agreed to buy U.S. energy products and invest $600 billion in the U.S. Financial markets are welcoming the progress on trade deals. U.S. stock futures are up ahead of the open. European stocks are higher in midday trading, with auto stocks particularly rallying on the news that the sector will now get a lower tariff than the 25% rate in place since April. South Korean tech giant, Samsung Electronics, will supply chips for Tesla in a 16.5 billion multi-year deal marking a major win for its foundry business. In a post on X, Tesla boss, Elon Musk, said, Samsung's new Texas facilities will be dedicated to making the U.S. EV maker's next generation AI6 chip. The deal comes at a particularly sensitive time for the U.S. and South Korea who are yet to hash out a trade agreement. And Hong Kong-based CK Hutchinson says it's in talks with a BlackRock-led consortium to include a strategic investor from China as part of its plans to sell ports on either end of the Panama Canal. CK Hutchinson didn't identify the Chinese company. Earlier this month, The Wall Street Journal reported that China was pushing for state-owned COSCO to be an equal partner and shareholder of the ports. This, as earlier moves to put the ports into U.S. ownership, reportedly angered Chinese leader, Xi Jinping. President Trump has identified the ports as a security concern due to their Chinese connections. And we have a lot more coverage of the day's news on the WSJ's What's News Podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.
CNA
2 days ago
- Business
- CNA
Samsung Elec signs $16.5 billion deal to make chips for global firm
SEOUL : Samsung Electronics said on Monday it has signed a $16.5 billion deal to supply chips for an unidentified major global company, sending its shares up 3.5 per cent. The South Korean tech giant said the deal signed on Saturday was for contract chip manufacturing and details of the agreement including the counterpart and terms would not be disclosed until the contract is completed at the end of 2033. The deal comes as Samsung is struggling to compete in the race to make artificial intelligence chips, which has hit its profits and share price. Samsung has customers like Tesla and Qualcomm for its foundry business, while bigger rival TSMC has customers like Apple and Nvidia. The deal comes as South Korea is seeking U.S. partnerships in chips and shipbuilding as it is making last-ditch efforts to reach a trade deal to eliminate or cut potential 25 per cent U.S. tariffs. It is not clear how the order would affect Samsung's plan to start production at its new factory in Texas, which has been delayed as it had struggled to win major customers. Samsung is grappling to boost production yields of its latest 2-nanometer technology, and the order is unlikely to involve the cutting-edge tech, Lee Min-hee, an analyst at BNK Investment & Securities, said. Samsung has been losing market share to TSMC in contract manufacturing, underscoring technological challenges the firm faces in mastering advanced chip manufacturing to lure the likes of Apple and Nvidia away from TSMC, analysts said.
