economy

China’s foreign trade grows 4.6 percent YoY in October, reaching $5 trillion in ten months

Exports amounted to $2.93 trillion, up 5.1 percent YoY, and imports totaled $2.14 trillion 

Federal Reserve on track for two 25-basis-point interest rate cuts this year

The Federal Reserve will begin its two-day policy meeting only a day after the U.S. presidential election on Tuesday

China’s privately offered funds hit $2.76 trillion by end-September

Equity investment funds, valued at 10.89 trillion yuan, were the largest category

U.S. business activity grows in October, price pressures ease

This suggests that the economy is entering the fourth quarter on a strong note

South Korea to provide $6.45 billion in financial support for semiconductor industry by 2025

The government will allocate 1.7 trillion won next year for chip R&D and talent development 

Japan’s inflation climbs 2.8 percent amid rising transportation, fertilizer costs

Egg prices have also surged due to unseasonably warm weather 

South Korea reports $1.7 billion increase in revenue, yet faces $62.43 billion fiscal deficit in first 8 months of 2024

The finance ministry noted that this year's deficit is the third-largest ever for the specified timeframe

European Council to mobilize $100 billion annually in climate finance through 2025

The council reaffirmed its commitment to climate finance and aims for new targets beyond 2025.

South Korea inks $2 billion agreement with Philippines to boost infrastructure projects in developing nations 

The deal stipulates that Korea will allocate $905 million from the fund for the construction of the initial segment of the Laguna Lake Road Network 

South Korea’s foreign reserves up for third month to $419.97 billion in September 2024

The BOK attributed the rise to higher non-dollar asset values, driven by a weaker U.S. dollar and investment gains 

China’s external financial assets surpass $9.79 trillion by end of June

Financial liabilities exceeded $6.8 trillion at the same date, resulting in net external assets of nearly $2.99 trillion 

China’s international trade reaches $585.2 billion in August, 4 percent YoY growth

The nation's exports of goods and services totaled $322.4 billion, while imports were recorded at $263.5 billion

Swiss National Bank lowers interest rate to 1.0 percent as inflation falls

Inflation fell to 1.1 percent in August from 1.4 percent in May, partly due to a stronger Swiss franc 

U.S. home prices rise slightly in July 2024 amid slowing momentum, improving supply conditions

Mortgage rates drop to 4.75 percent to 5.00 percent range as housing affordability improves

U.S. fiscal profile expected to deteriorate under incoming administration, says Moody’s

The report stated that the new administration will face a worsening fiscal landscape as debt affordability declines

U.S. consumer confidence falls to 98.7 amid labor fears, largest drop since August 2021 

Despite sharp decline in index, more households expressed intentions to purchase homes in the next six months

Japan’s land prices rise 1.4 percent as of July, marking three years of growth since 1992

This trend is attributed to heightened foreign investment spurred by the weak yen 

South Korea’s KASA, NASA collaborate on deep space exploration, lunar research, and space traffic management

The two entities pledged to identify innovative projects in space life sciences and deep space antennas

U.S. current account deficit soars to $266.8 billion, reaching two-year high due to import surge

This deficit reached 3.7 percent of GDP, the highest since Q2 2022, up from 3.4 percent in Q1

U.S. unemployment claims drop to four-month low in September, signaling economic strength amid rate cuts

Initial claims fell by 12,000 to 219,000 for the week ending September 14 

Bank of Japan maintains short-term rate steady at 0.25 percent, upgrades view on consumption

The Bank of Japan ended negative interest rates in March and hiked short-term rates to 0.25 percent in July