The Global ‘Canary In The Coalmine’ Is Sick
One of our most favorite economic indicators to follow is South Korean exports.
It’s a favorite of Jim O’Neill. Goldman Sachs and UBS both literally refer to it as a “canary in the coalmine” for the economy.
Korean trade data usually comes before the first trading session of the month in Asia, which makes it the first of the world’s major economic indicators to be released.
Because Korea’s exports are heavily exposed to China and [...]
The House Committee on the Judiciary reported Rep. Sheila Jackson Lee (D-Texas) traveled around the world on an official trip in February that cost $23,646. The February 16-22 trip on commercial flights was to Korea, Vietnam and Cambodia.
US military Black Hawk crashes near North Korean border
A US military helicopter has crashed near the North Korean border, a South Korean defence official said, with no reported casualties.
US military Black Hawk crashes near N. Korea border
SEOUL (AFP) – A US military helicopter crashed on Tuesday near the North Korean border, a South Korean defence official said, with no reported casualties.
Michael van PoppelVerified account?@mpoppel
BREAKING — Yonhap: S. Korea’s military reports “sharply increased” movements of vehicles and soldiers at N. Korean missile sites
Defectors’ group FFNK announces plan to launch leaflets via balloons from Imjingak towards #DPRK on Saturday.
Recent balloon launch announcements have prompted #DPRK to threaten artillery fire on Imjingak. #Korea
According to the Mayans, the world is going to end on 21 December 2012. thanks guys, we don’t even get to open our Christmas presents.
And the countdown to the big one just got a bit more frenzied amid concerns that Gangnam Style singer Psy is also gleefully heralding our collective mass extinction.
A blogger on The Project Avalon Forum points out the following Nostradamus prediction, made in 1503:
“From the calm morning, [...]
Asian stocks are down for the fourth day.
Here’s how the markets look:
Japan’s Nikkei 225 is down 0.31%
Hong Kong’s Hang Seng index is down 1.03%
Australia’s S&P/ASX 200 is down 1.06%
The Shanghai Composite is down 1.13%
Korea’s Kospi Index is down 0.62%
Updated: 9:45 p.m. ET
China HSBC PMI 49.5, Exp. 49.1, 8 month high. Last 47.9. Notes “Input costs and output charges increase”
The unofficial HSBC China manufacturing PMI just came out.
The October reading climbed to 49.5 from 47.9 in September.
This final number was notably stronge than the HSBC China Flash (or preliminary) number, which came in at 49.1 last week.
Here are the key points from Markit:
Modest fall in output signalled
New orders rise for the first time in a year
Input costs and output charges [...]
Last week’s post-ECB hangover continues as markets in Europe are falling once again.
Italy is down about 0.9%.
Spain is down 1.0%.
Germany is down 0.25%.
This follows a fairly quiet weekend, and a mixed Asian session, which saw Japan fall 0.45%, but Korea and Shanghai come back for nice gains.
US futures are modestly lower.
The Spanish government sold €3.39bn (£2.7bn) in 12- and 18-month bonds, beating the top end of its target to sell €3bn, but the interest cost on the loans almost doubled.
The interest rate on the 12-month bills shot up to 5.07pc from 2.98pc at the last such auction on May 14. The rate on the 18-month bills soared to 5.1pc from 3.3pc.
In the secondary market, where previously issued debt is traded, [...]
UPDATE: Greece Diving, Euro Tanking, G7 Prepares For Emergency Phone Call
ORIGINAL POST, SEE UPDATE BELOW: Europe is trying to make it two in a row.
Ongoing buzz about leaders there cooking up some deal is keeping markets afloat.
Spain’s IBEX is up 0.7%.
Italy is up nearly 1%
France is up 0.6%.
Interestingly, Germany is only flat, marking the second straight day of major underperformance.
Asia had a solid night, as Japan and Korea both posted [...]
ORIGINAL POST, SEE UPDATE BELOW: Here we go: It’s the first big economic datapoint of the week.
At 10:30 PM ET, the HSBC China Flash PMI is set to be released.
This is supposed to be a preview of the official HSBC China PMI report that will be released at the beginning of May.
Last month’s Flash PMI came in at 48.3 signaling worsening conditions.
We’ll have the number here LIVE when it comes out.
UPDATE: The number is out, and [...]
Asian Market Indices
Index Quote Change Change% Local
New Zealand 3458.63 -16.69 -0.48% 14:24
Australia 4344.70 -32.51 -0.74% 12:44
Nikkei 225 9428.68 -109.34 -1.15% 10:44
Korea 1994.41 -2.67 -0.13% 04/10
Taiwan 7623.03 -25.20 -0.33% 09:45
Taiwan OTC 110.62 -0.16 -0.14% 09:25
Shanghai 2291.89 -13.97 -0.61% 09:44
Shenzhen comp 9683.11 -120.95 -1.23% 09:30
Hong Kong 20092.96 -263.28 -1.29% 09:29
Asian Market Indices
Index Quote Change Change% Local
Australia 4422.04 -9.43 -0.21% 16:15
Nikkei 225 10114.79 -67.78 -0.67% 03/29
TOPIX 857.74 -6.69 -0.77% 03/29
TSE 2nd Sec 2426.50 -3.15 -0.13% 03/29
Korea 2014.41 -17.33 -0.85% 15:02
Taiwan 7872.66 -165.41 -2.06% 13:46
Taiwan OTC 112.39 -4.79 -4.09% 13:46
Shanghai 2261.08 -23.80 -1.04% 14:39
Shenzhen comp 9460.01 -72.45 -0.76% 14:25
Hong Kong 20577.15 -300.98 -1.44% 14:24
New Zealand 3483.86 +6.39%
Australia 4356.40 +5.97%
Nikkei 225 10121.01 +19.70%
TOPIX 864.83 +18.70%
TSE 2nd Sec 2461.04 +16.56%
JASDAQ 53.67 + 11.53%
Korea 2038.52 +11.65%
Taiwan 8002.32 +13.15%
Taiwan OTC 118.33 +26.03%
Shanghai 2384.97 +8.44%
Shanghai A 2489.57 +8.05%
Shanghai B 241.13 +12.02%
Shenzhen A 1016.62 +12.10%
Shenzhen B 666.04 +17.46%
SHSZ 300 2584.45 +10.18%
Shenzhen comp 10116.39 + 13.43%
Hong Kong 20888.24 +13.31%
HK CN Ent 10870.61 +9.40%
HK Aff Crp 4007.04 +8.82%
Singapore 3007.29 +13.64%
FTSE ST China 254.78 +15.35%
Vietnam 440.29 +25.24%
Thailand 1196.60 +16.71%
Philippines 5091.92 +16.47%
Malaysia 1575.43 [...]
New Zealand 3513.55 + 7.29%
Australia 4363.80 +6.15%
Nikkei 225 10098.68 +19.44%
TOPIX 865.62 +18.80%
TSE 2nd Sec 2436.16 +15.38%
JASDAQ 53.50 +11.18%
Korea 2041.44 +11.81%
Taiwan 8120.30 +14.82%
Taiwan OTC 120.23 +28.05%
Shanghai 2395.38 + 8.91%
Shanghai A 2501.35 +8.56%
Shanghai B 242.41 +12.61%
Shenzhen A 1017.47 +12.19%
Shenzhen B 671.99 +18.51%
SHSZ 300 2607.26 +11.15%
Shenzhen comp 10220.51 +14.59%
Hong Kong 21384.57 +16.00%
HK CN Ent 11265.81 +13.38%
HK Aff Crp 4149.44 +12.69%
Singapore 3033.18 +14.62%… />FTSE ST China 258.39 +16.98%
Vietnam 441.85 +25.69%
Thailand 1171.34 +14.24%
Philippines 5058.47 + [...]
A worker at a Foxconn facility in Chengdu, China.
Apple’s supply chain is once again in the crosshairs, after a South Korean newspaper today reported that Chinese factory workers are paid substantially less than their counterparts elsewhere around the world.
According to the Korea Daily, citing sources, factory workers in China who are producing iPads collectively earn about $8 per unit among them, or about 1.6 percent of the cheapest iPad‘s selling price.
Korean factory [...]
Washington has agreed to allow the importation of M1 Garand rifles from Seoul, reversing its earlier decision to ban the shipping of the weapon used by South Korean and U.S. soldiers during the 1950-53 Korean War, a senior defense official said Wednesday.
“The U.S. government approved the imports of some 86,000 of the rifles,” said Lee Sun-chul, deputy defense minister for force and resources management.
“The historic firearms are expected to be [...]
Aug. 2, 2011, 10:02
The big drubbing continues.
Following the lousy US session, Asian markets are getting walloped.
Korea is down 2.9%.
Hong Kong is off 2.3%.
Japan is off over 2% as well.
At least everyone’s in this together.
(Excerpt) Read more at businessinsider.com …
After protests recently shifted to Korea, they have now migrated to very tightly controlled Vietnam (and some were wondering what the reason for the orchestrated take down of rice in the past week was), in the first public demonstration by unhappy farmer against the controlling regime in many years. In the meantime, as the media blackout over developments in Korea, Bahrain and just as importantly Algeria continues (not to [...]
He said that the latest and greatest rockets and missles being deployed by the U.S. Navy are second to none.
Check out the new “Rail” guns…..
I asked this guy if we should be worried about N. Korea.
He said the Koreans had no chance of matching our guns that can launch a projectile over 200 miles at Mach 7….
Stockman: “The Fed is destroying prosperity by funding demand that we can’t support with earnings and productions, causing massive current accounts deficits and the flow of funds overseas and the build up in China, OPEC and Korea of massive dollar reserves which is a totally unsustainable, unsupportable system, and we are coming near the edge of where that can continue to remain stable.”
Some other facts:
The more we can distract you from the truth and from the Great Depression II in this Country, the better!!