TexBr/iStock via Getty Images By Min Joo Kang , Senior Economist, South Korea and Japan Semiconductor output rose firmly thanks to high-end memory chip production Korea’s industrial production rebounded more than expected by 5.4% month-on-month, seasonally adjusted, in February (vs. revised -2.4% in January, 1.5% market consensus). The output rebound was concentrated in the semiconductor sector (2...
TexBr/iStock via Getty Images By Min Joo Kang , Senior Economist, South Korea and Japan Semiconductor output rose firmly thanks to high-end memory chip production Korea’s industrial production rebounded more than expected by 5.4% month-on-month, seasonally adjusted, in February (vs. revised -2.4% in January, 1.5% market consensus). The output rebound was concentrated in the semiconductor sector (28.2%), more than offsetting declines in electronics (-7%) and autos (-1.4%). We believe external demand for AI chips remains strong, but supply chain disruptions and rising input costs may slow activity if the Iran war continues. Chip output increased as manufacturers focused on high-end chips Source: CEIC Middle East conflict affected activity in March, making the outlook uncertain Naphtha shortages are a major concern for the petrochemical sector for now. But second-round impacts will likely affect more manufacturing sectors. The government restricted naphtha exports starting March 27, but this merely balances import shortages. Markets estimate that naphtha exports account for about 10% of total supply. Their role as feedstock for petrochemicals could significantly disrupt manufacturing supply chains. Although alternative supply sources may help, the manufacturing sector could still face higher costs. Our 2Q26 GDP forecast has been revised downward since the war began. Downside risks have increased for the second quarter and beyond. Investment also rose firmly in February Facility investment gained 13.5% in February, with transportation equipment (40.4%) and machinery (3.8%) up. Construction investment also rose 19.5%, with both building (17.1%) and civil engineering (25.7%) rising sharply. Forward-looking orders data showed improvement. In a three-month comparison, machinery and construction orders rose by 2.6% and 17.4%, respectively. March exports will continue to outperform amid strong chip demand We expect exports to rise quite sharply by 47% in March. The first 20 d...
Good morning . Stock futures rise on a report that Donald Trump is mulling an off-ramp from the war. Iran strikes a tanker in the Dubai port area. And Virgin Galactic is booking space trips at $750,000 apiece. Listen to the day’s top stories . Equity-index futures rose and oil fluctuated after the Wall Street Journal reported that Donald Trump told aides he’s willing to end the US military campaig...
Good morning . Stock futures rise on a report that Donald Trump is mulling an off-ramp from the war. Iran strikes a tanker in the Dubai port area. And Virgin Galactic is booking space trips at $750,000 apiece. Listen to the day’s top stories . Equity-index futures rose and oil fluctuated after the Wall Street Journal reported that Donald Trump told aides he’s willing to end the US military campaign against Iran even if the Strait of Hormuz remains largely closed. Treasuries extended gains and the dollar weakened against most of its Group-of-10 peers. Bonds advanced earlier after Federal Reserve Chair Jerome Powell said longer-term inflation expectations appear to be in check . An Iranian drone hit a fully laden Kuwaiti oil tanker off Dubai in one of the most significant attacks on a vessel in a month of war. The Al-Salmi was in the anchorage zone of Dubai’s port, just 31 nautical miles northwest of the emirate and in an area packed with ships waiting to exit the Persian Gulf. After a month of fighting, it’s arguably Iran that has secured the most significant strategic victory — a tightening grip over traffic through the Strait of Hormuz. So far in March, barely six vessels per day on average have traversed the narrow waterway connecting the Persian Gulf to the world, in either direction. That compares with about 135 a day in normal times. Read our explainer about what it may take to open the strait. Fesharaki Sees Oil At $150-$200 in Next Few Weeks Watch the interview A former Deutsche Bank manager who says he was wrongfully blamed for the Monte Paschi accounting scandal has sued the German lender in a London court for at least £473 million in damages. Michele Faissola, the former head of Deutsche Bank’s asset and wealth management business, as well as other ex-employees are suing the bank for at least £664 million in total, according to the filing seen by Bloomberg. Motor Finance Payouts Set at £7.5 Billion After FCA Changes Aluminum Heads for 10% Monthly Surge as ...
Michail_Petrov-96 Nordique Resources ( NORDF ) has announced that it will change its name to WestGold Metals Corp. and its ticker symbol on the Canadian Securities Exchange to WGM. This change has been approved by the company’s board of directors and the CSE. Trading under the new name and symbol is expected to start on April 2, 2026. The company has also applied for its common shares to be traded...
Michail_Petrov-96 Nordique Resources ( NORDF ) has announced that it will change its name to WestGold Metals Corp. and its ticker symbol on the Canadian Securities Exchange to WGM. This change has been approved by the company’s board of directors and the CSE. Trading under the new name and symbol is expected to start on April 2, 2026. The company has also applied for its common shares to be traded on the OTCQB under the symbol WGMTF, likely commencing around the same date. As part of this change, the new CUSIP will be 96033F105 and the new ISIN will be CA96033F1053. There will be no change to the company’s share capital, and shareholders do not need to take any action regarding this change. The company’s name and symbol change represents a shift in focus toward gold exploration opportunities in North America, and includes a leadership update with a new CEO . The company has decided not to renew the Fairview Project tenements in British Columbia and continues to evaluate opportunities in line with its updated strategy while maintaining its interest in the Isoneva Project in Finland.