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Wall Street dips, weighed down by healthcare plunge

NEW YORK, April 18 ― US stocks ended slightly lower yesterday as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China. All three major US stock indexes ended the…


European shares ease from eight-month high as miners weigh

LONDON, April 17 — European shares eased from eight-month highs today, weighed down by healthcare and mining stocks while investors looked past better-than-expected first-quarter economic growth in China. The pan-European STOXX 600 index was down…


Japan's surplus with US up 10pc amid trade talks

TOKYO, April 17 — Japan's monthly trade surplus with the United States grew nearly 10 per cent in March, according to official data yesterday likely to be seized upon by Washington in ongoing trade talks with Tokyo. Data from the Japanese finance…


Matrade: Trade with EU not affected by palm oil issue

KUALA LUMPUR, April 16 — The trade issue between Malaysia and the European Union (EU) over palm oil will not affect other forms of exports to the EU, says the Malaysia External Trade Development Corporation (Matrade). Chief executive officer…


Huawei says not discussed 5G chipsets with Apple, says chairman

SHENZHEN, April 16 — Huawei Technologies, one of the world’s biggest smartphone makers, has not had talks with Apple Inc about supplying it with 5G chipsets, Rotating Chairman Ken Hu said today. Hu made the remark at the company’s annual…


Foxconn chairman mulls presidential bid; plans to withdraw from daily ops

TAIPEI, April 16 — Foxconn’s Chairman Terry Gou said today he is considering whether to run for Taiwan’s 2020 presidential election, a day after Reuters reported the tycoon planned to step down from the world’s largest contract manufacturer….


Germany’s Merck seals US$6.6b takeover of US group Versum

FRANKFURT AM MAIN, April 12 — German chemicals and pharmaceuticals giant Merck KgaA said Friday it had signed a €5.8-billion (RM27 billion) deal to buy Arizona-based Versum Materials, which supplies chemicals, gases and equipment for…


ASML falls victim to Chinese corporate espionage

AMSTERDAM, April 11 — Dutch ASML was the victim of Chinese corporate espionage a few years ago, but said the information stolen was not a blueprint for the lithography machines that have made it a world leader in semiconductor equipment. ASML said…


Wall Street drops on US trade tensions with EU, IMF global outlook

NEW YORK, April 10 — Trade-sensitive industrials dragged Wall Street lower yesterday as tensions over tariffs between the United States and its European trading partners went from simmer to boil and the IMF lowered its global growth outlook. All…


Global headwinds seen continuing to weigh on exports

PETALING JAYA: Analysts remain less optimistic on their outlook for Malaysia’s exports this year on the back of uncertainty in global trade and growth slowdown in the key export markets.

In a note last Friday, PublicInvest Research said it is of the view that the recent export numbers moderated amid unresolved trade disputes that pushed traders to be cautious and calculative in their commercial decisions.

“Trade negotiations are ongoing and given the depth and complexity of the matter, this could last for the entire second quarter (Q2), suggesting that trade may not rebound until then.

“We expect a piece-meal solution at the very least which should be enough to give trade the jolt it needs. Traders and exporters may remain cautious and calculative with their commerce-related decisions until then,” it explained.

Nevertheless, the research house said Malaysia is in the best position to gain from a global trade rebound, thanks to the competitive ringgit and ample capacity in the economy.

Meanwhile, BIMB Securities Research opined that 2019 would be a challenging year for Malaysia’s exports primarily weighed by the trade tension between the US and China, prospect of cooling global growth, China’s slowing economy, a weak EU economy and sluggish demand for commodities.

“There is also expected to be a slower global demand for electrical and electronics (E&E) products,” it said.

According to the Semiconductor Industry Association, the global semiconductor sales were up 13.7% in 2018, but it is forecasted to decline 3%.

Overall, BIMB Securities believes that there will be a general slowdown in the global economy that would impact exports this year and it anticipates the exports growth to slow down to 3.4% in 2019.

“Moving forward, based on the latest manufacturing Purchasing Managers’ Index (PMI) reports, we are cautiously sanguine in the near-term as new exports orders are weakening despite expansion in the region’s manufacturing activity.

“We maintain our view that trade performance would remain subdued going forward. After almost reaching the RM1 trillion mark in 2018 (2018 export: RM998 billion) with a year-on-year growth of 6.7%, it will be tough for exports to achieve the same figure this year with the anticipated slower global growth.”

However, UOB Research said the uptick in recent PMI from US, China and the region in March, alongside signs of constructive US-China talks, could help Malaysia’s exports and industrial activity turn the corner in Q2’2019.