An Hour Ago
Europe opens in positive territory
The pan-European Stoxx 600 was up 0.4% in early trade, with tech stocks adding 1.1% to lead gains as all sectors and major bourses advanced.
Germany’s DAX was the strongest regional performer with a 0.7% climb.
5 Hours Ago
South Korean exports growth surges on strong chip demand
South Korean exports in February rose 4.8% from a year earlier to $52.41 billion, beating Reuters’ estimates of a 1.9% increase, on strong demand for its semiconductors, preliminary government data showed.
The export print compares to a 18% growth in January. Overall, imports fell by 13.1%, steeper than estimates of a 10.4% drop.
“The ICT cycle (Information and Communications Technology cycle) is on an upturn,” said Trinh Nguyen, senior economist at Natixis. “With the manufacturing cycle returning to growth in the U.S., that should support South Korea,” she added.
5 Hours Ago
Japan’s February factory activity contracts at fastest pace in over three years
Japan’s February factory activity shrank at the fastest pace in more than three years on the back of weakening demand.
The au Jibun Bank’s flash Japan manufacturing purchasing managers’ index fell to 47.2 in February, compared with January’s 48.0 reading, indicating continued contraction in private sector business activity.
The reading signals a ninth consecutive deterioration in business activity