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Exports to the US fell by 10.9 percent year-on-year in September and exports to Western Europe fell by 8 percent, while imports from these countries have increased.
The export of Japanese cars has increased slightly worldwide, but in value they have fallen by 17.5 percent year-on-year towards the US and by 10.9 percent towards the EU.
Japan’s trade surplus is well below expectations for September. Economists expected an average positive balance of 546.1 billion yen.
Mixed Reactions Trail iPhone 5
Asian producers of components for Apple reacted to the presentation of the iPhone 5 , given the reservations of some analysts about its ability to make a difference in the ultra-competitive smartphone market . In Seoul, stock from Samsung Electronics – a major supplier to Apple and its main competitor, the world’s number one cell phone – was slack in the morning, while screen maker LG Display and chip maker SK Hynix were were down 1.4 and 1.8% respectively.
In Tokyo, reactions were more positive, with the PCB supplier for apple brand Meiko Electronic jumping 17.07% before mid-session. Murata Manufacturing took 2.6%, TDK 3.37%, and Toshiba 0.39%. In Taipei, Hon Hai Precision slipped 0.32% and TPK Holding 1.63%, but metal case maker Catcher Technology fell 1.0% and lens producer Largan Precision 0.8%. The title of Apple’s Taiwanese competitor HTC was unchanged.
Federal Reserve Watch
The Federal Reserve has reached a new milestone in the race to have the balance sheet in the world. The US central bank has gone wild in 2020 and is printing dollars non-stop.
When asked “Who is the largest investor in the world?” many would probably answer to someone like Rockefeller or Rothschild. Perhaps some more financially savvy would name a few major mutual funds.
The US Federal Reserve is currently the largest investor on planet Earth with a total of 22,913 different securities. However, corporate bonds are just $ 5 billion of the total. The Fed’s balance sheet is still largely based on Treasuries and mortgage-backed securities.
Oil Price Go Up
Oil price were substantially higher in Asia on Tuesday afternoon , traders remained optimistic that continued economic reopening in countries around the world would increase demand and that adhering to supply cuts would help reduce glut. of the supply that has pushed prices down in recent months .
The optimism over the economic reopening that fueled oil prices had an opposite reaction for the US dollar, and the safe haven asset tumbled Tuesday afternoon as investor optimism increased risk appetite. The greenback was lower against a basket of its major trading partners, with the dollar index falling 0.24 percent to 99.62. DXY. The dollar moved higher against the yen, up 0.14 percent to 107.84, but fell against the euro and the pound.