Jerry Lin
The Latest
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Global Trade Shows Signs of Fragmentation, Export Powerhouses in Europe and Asia Face Setbacks
China's General Administration of Customs reported on November 7 that the country's exports in October fell by 6.4% year-over-year to $274.2 billion. This decline was slightly greater than September's 6.2% drop and exceeded market expectations of a 3.5% fall. This marks the sixth consecutive month of year-over-year export declines for China, with cumulative exports from January to October totaling $4.899 trillion, a 5.6% decrease from the previous year. 
China's General Administration of Customs reported on November 7 that the country's exports in October fell by 6.4% year-over-year to $274.2 billion. This decline was slightly greater than September's 6.2% drop and exceeded market expectations of a 3.5% fall. This marks the sixth consecutive month of year-over-year export declines for China, with cumulative exports from January to October totaling $4.899 trillion, a 5.6% decrease from the previous year. -
Oil Prices Plunge Over 4%, Hitting Three-Month Lows Amid Economic Concerns
Oil prices tumbled on Tuesday, with a drop exceeding 4%, as both U.S. crude and Brent crude reached their lowest points in over three months, erasing all gains since the recent Israel-Palestine conflict. Investors' concerns about the global economic outlook, coupled with Federal Reserve officials' suggestions that interest rate hikes may not be over, and the U.S. Energy Information Administration's (EIA) downward revision of future oil price forecasts are among the reasons for the sharp decline. 
Oil prices tumbled on Tuesday, with a drop exceeding 4%, as both U.S. crude and Brent crude reached their lowest points in over three months, erasing all gains since the recent Israel-Palestine conflict. Investors' concerns about the global economic outlook, coupled with Federal Reserve officials' suggestions that interest rate hikes may not be over, and the U.S. Energy Information Administration's (EIA) downward revision of future oil price forecasts are among the reasons for the sharp decline. -
IMF Raises China's 2023 Economic Growth Forecast to 5.4%
The International Monetary Fund (IMF) has revised its economic growth forecast for China in 2023 to 5.4%, a 0.4 percentage point increase from its October projection. The revision is attributed to China's stronger-than-expected growth in the third quarter and a series of recently released policies. 
The International Monetary Fund (IMF) has revised its economic growth forecast for China in 2023 to 5.4%, a 0.4 percentage point increase from its October projection. The revision is attributed to China's stronger-than-expected growth in the third quarter and a series of recently released policies. -
Eurozone GDP Growth Threatened by Downturn Risks Amid Recession Fears
The eurozone saw further contraction in its service sector in October, while manufacturing continued to slow down. Data released on November 6 confirmed that the final value of the Hamburg Commercial Bank's Composite Purchasing Managers' Index (HCOB PMI) for October was 46.5, down from 47.2 in September. This acceleration in the contraction of private sector activity in the eurozone suggests that there are downward risks to GDP growth. 
The eurozone saw further contraction in its service sector in October, while manufacturing continued to slow down. Data released on November 6 confirmed that the final value of the Hamburg Commercial Bank's Composite Purchasing Managers' Index (HCOB PMI) for October was 46.5, down from 47.2 in September. This acceleration in the contraction of private sector activity in the eurozone suggests that there are downward risks to GDP growth. -
South Korea Stocks Surge Follows Extended Short-Selling Prohibition
In a move that propelled South Korean markets to their best gains in over two years, financial authorities announced the extension of a short-selling ban, sending the Kospi index soaring by 5.66% and the Kosdaq index up by 7.34%. The directive, aimed at leveling the playing field for investors, will halt the short-selling of stocks until June 2024. This decision coincides with a softer-than-expected U.S. jobs report, which dampened concerns over aggressive rate hikes by the Federal Reserve. 
In a move that propelled South Korean markets to their best gains in over two years, financial authorities announced the extension of a short-selling ban, sending the Kospi index soaring by 5.66% and the Kosdaq index up by 7.34%. The directive, aimed at leveling the playing field for investors, will halt the short-selling of stocks until June 2024. This decision coincides with a softer-than-expected U.S. jobs report, which dampened concerns over aggressive rate hikes by the Federal Reserve. -
U.S. House Passes Bill to Expand Sanctions on Iranian Oil Despite Falling Oil Prices
The Hill reported that the U.S. House of Representatives passed a bill with a vote of 342 to 69 aimed at imposing penalties on entities involved in the Iranian oil trade. 
The Hill reported that the U.S. House of Representatives passed a bill with a vote of 342 to 69 aimed at imposing penalties on entities involved in the Iranian oil trade. -
US Lawmakers Urge Biden to Address China's Access to Open-Source Chip Tech
A rising tide of bipartisan concern is sweeping Capitol Hill as lawmakers push the Biden administration to address China's increased usage of the open-source RISC-V chip design. This technological battleground, as some legislators argue, could potentially compromise US national security. 
A rising tide of bipartisan concern is sweeping Capitol Hill as lawmakers push the Biden administration to address China's increased usage of the open-source RISC-V chip design. This technological battleground, as some legislators argue, could potentially compromise US national security. -
China's Skyrocketing Money Rates Lead to Regulatory Scrutiny
China's short-term money rates spiraled to a record 50% last month. This unprecedented surge has now sparked a probe by the nation's financial overseers, as they aim to understand the rationale behind certain institutions borrowing at such exorbitant rates. 
China's short-term money rates spiraled to a record 50% last month. This unprecedented surge has now sparked a probe by the nation's financial overseers, as they aim to understand the rationale behind certain institutions borrowing at such exorbitant rates. -
Bank of England Holds Steady Amid Economic Concerns, Spurring Debate Over Next Moves
The Bank of England (BoE) announced Thursday that it would keep interest rates unchanged at 5.25%, marking the second consecutive pause after 14 successive rate hikes. The central bank cited weakening economic activity and easing inflation as reasons behind the decision, igniting speculation on whether the highest rate level since February 2008 has peaked. 
The Bank of England (BoE) announced Thursday that it would keep interest rates unchanged at 5.25%, marking the second consecutive pause after 14 successive rate hikes. The central bank cited weakening economic activity and easing inflation as reasons behind the decision, igniting speculation on whether the highest rate level since February 2008 has peaked. -
Gold's Safe Haven Appeal: Fueled by Geopolitical Tensions and Central Banks?
Amid the Israel-Palestine conflict, international gold prices surged past $2,000 per ounce. Domestically, a younger generation has been eagerly investing in gold, with sales of gold bars and coins surging by 15.98%. 
Amid the Israel-Palestine conflict, international gold prices surged past $2,000 per ounce. Domestically, a younger generation has been eagerly investing in gold, with sales of gold bars and coins surging by 15.98%.
