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Cargo Traffic to Los Angeles Port Expected to Fall in Week Ending Oct. 3

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Cargo traffic at the Port of Los Angeles is expected to fall in the week ending Oct. 3, according to data from ship-tracking system Port Optimizer.

A total of 143,091 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That reflects a 7.3% drop from the previous week and a 53% jump from a year earlier.

Twenty-five freight vessels are scheduled to arrive at the port in the week ending Oct. 3, the data showed. That compares with 20 vessels scheduled this week and 25 in the week ending Sept. 26.

The US government may delay announcing new tariffs on China and other trading partners until after the Thursday meeting between Donald Trump and Xi Jinping, Bloomberg reported, citing people familiar with the matter.

What else is happening in International?

International

Bank of Japan Hikes Interest Rate to 31-Year High

The Bank of Japan raised its benchmark policy rate to a 31-year high of 1.25% from 1.0% at the conclusion of its monetary policy meeting on Friday.The decision, approved by a 7-2 vote, was in line with market expectations and marked the second rate hike for the central bank this year.The BOJ last raised its benchmark policy rate to 1.0% from 0.75% in June.The central bank said Japan's economy is recovering moderately, although some weakness remains due geopolitical uncertainties acting as risks to the outlook.The economy is expected to continue growing moderately, driven by rising global AI-related demand and various government measures, the BOJ said.Rising crude oil prices and the depreciation of the yen have pushed medium- to long-term inflation expectations higher, bringing the underlying rate of consumer price inflation closer to the BOJ's 2% target.

Nikkei 225
International

Korea's Auto Exports Plunge in August on Fewer Working Days, Strikes

Korea's automobile exports fell nearly 30% year over year to $3.85 billion in August, hit by fewer working days from the summer holiday shift and strike-related production disruptions, according to the Ministry of Trade, Industry and Resources (MOTIR).Declines were recorded across all major markets, with North America down over 28%, the EU falling nearly 17%, Asia tumbling 42%, and the Middle East slid 24%, while export volume dropped 27% to 146,000 units.Domestic sales and production fell 21% and 36%, respectively, to 110,000 and 206,000 units, though eco-friendly vehicle sales reached 69,000 units, or 63% of the domestic market.With wage negotiations now concluded at all major automakers, the ministry expects the shortfall to be made up and exports and production to gradually recover.

KOSPI
International

South Korea Extends Fuel Tax Cuts Through November to Ease Public Burden

South Korea will extend its fuel tax cut scheme by another two months through November to ease price burdens on the public amid protracted tensions in the Middle East, according to the Ministry of Finance and Economy statement on Thursday.The ministry said the decision was made during an economy-related ministers' meeting chaired by Finance Minister Koo Yun-cheol, taking into careful consideration the recent international oil price situation and the burden on the public.The current reductions, including 15% for gasoline and 25% for diesel and butane, were scheduled to end in September, and the 10th oil peak price to be applied will be announced at 6 p.m. on Thursday.During the Chuseok holiday period from Sept. 24 to 27, highway gas station fuel prices will be lowered by 100 won per litre compared to Sept. 17, with electric vehicle charging fees discounted during daytime hours.

KOSPI