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[Peripheral Economy] Container freight rates rise due to growing demand
\”Economic News Service News on the 17th\” Last week, spot freight rates for containers shipped from Asia to the United States and Europe rose by more than 10%, with signs that demand is picking up.
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International funds are heavily shorting the Indian stock market.
The current view of overseas investors on the Indian stock market is the most pessimistic in more than a decade.
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Malaysia’s GDP grew 4.2% in the first quarter, economic recovery is faster than expected
Malaysia\’s economy grew faster than initially estimated in the first quarter, driven by a rebound in private spending and exports.
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Japanese consumption suffers as yen continues to weaken! Analysts: Bank of Japan faces greater pressure to raise interest rates
The Japanese yen against the U.S. dollar (USDJPY) exchange rate fell by more than 0.2% to 155.8 yen today (17th), giving up part of the gains earlier this week. It has fallen by about 10% so far this year. The continued weak performance of the Japanese yen has also caused Japanese prices to rise. The rise has impacted people\’s consumption. This situation is also reflected in the data released yesterday. Japan\’s economic contraction in the first quarter of this year was larger than expected, partly due to the weakness of the yen.
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Reportedly struggling with labor shortage, Toyota Mexico plant has suspended production multiple times this year
According to Reuters, people familiar with the matter pointed out that Toyota was forced to suspend production multiple times at a factory in Mexico in February and March this year as local labor shortages affected the output of suppliers.
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MSCI World Index removes 14 Japanese stocks, the most in 2 years
MSCI of the United States announced on Tuesday (14th) that it would reduce the number of Japanese stocks in the \”MSCI All Country World Index\” (ACWI) by 14. Market capitalization in dollar terms shrank as the yen weakened, with the largest decrease in 2 years.
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Surrounded by three big profits! The RMB has surged against the U.S. dollar for two consecutive days, reaching a maximum of nearly 400 points.
The exchange rate of the RMB against the U.S. dollar (USDCNY) rose sharply again today (16th), with the offshore RMB rising to around 7.2. There has been a sharp rise for two consecutive trading days. The RMB against the U.S. dollar rose by nearly 400 points, mainly stimulated by three major bullish news. .
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Losing to the electric vehicle price war! Japanese car company Honda will lay off 1,700 employees in China
As sales in the Chinese market continue to be sluggish, Japanese automaker Honda said on Wednesday (15th) that it has begun recruiting local full-time employees in China to voluntarily leave, and about 1,700 employees have agreed to leave. Competition in China\’s auto market is fierce, and Japanese automakers such as Honda are struggling in sales.
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BYD\’s first pickup truck, SHARK, is on the market but has not made its debut in mainland China. Experts point to two major considerations
Chinese electric vehicle giant BYD (002594-CN) released its first gasoline-electric hybrid pickup truck model SHARK in Mexico on Wednesday (15th), priced between 899,980 and 969,800 Mexican pesos (approximately 386,600 to 416,500 yuan) , with a 1.5-liter turbocharged engine and a dual-motor PHEV system, a combined output of 430 horsepower and an excellent driving range of 840 kilometers, it is expected to become a strong rival to Ford (F-US) Ranger and Toyota Hilux in North America, but As China gradually reduces restrictions on pickup trucks, BYD has launched its electric pickup truck in overseas markets, which has also puzzled the outside world.
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Eurozone’s first-quarter GDP revised to 0.4%, soft landing on track
Eurostat released the latest revised data on Wednesday (15th), showing that after the euro zone\’s economic growth entered a slight recession in the second half of 2023, gross domestic product (GDP) increased at both annual and quarterly rates in the first quarter of this year. Growth, even the long-term drag on German economic growth exceeded expectations.