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Opened up 1.8% on the US-Iran deal and strong May export prices driven by a surge in semiconductor-linked products.

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South Korea's Export Price Growth Quickens in May on Chip Surge
US Markets

South Korea's Export Price Growth Quickens in May on Chip Surge

South Korea's export price index surged 46.9% year on year in May on a Korean won basis, accelerating sharply from a revised 41.3% gain in April, according to preliminary data from the Bank of Korea on Tuesday.The rally in semiconductor-linked products pushed the headline index to its sharpest increase since March 1998.On a month-over-month basis, the export price index inched up 0.3%, easing from the 7.5% gain recorded in April, suggesting the pace of monthly increases is stabilizing.On the import side, prices rose 24.8% from a year earlier, also accelerating from April's revised 20.5% increase. While prices edged down 0.3% from the prior month, the pace of drop eased from the 2.1% monthly decline in April.The sustained drop in import prices on a monthly basis, combined with the widening in export price gains, helped push South Korea's net barter terms of trade (NBTT) index up by 18.7% from a year earlier.The latest print was up from 14.3% in April, extending a streak of improving purchasing power for Korean exporters.The NBTT measures the quantity of imports that can be purchased per unit of exports relative to the 2020 base year.The export price acceleration was driven by a double-digit jump in export prices of agricultural, forestry and marine products, as well as manufacturing products.Within the manufacturing cluster, export prices of computers, electronic and optical equipment soared 104% year over year in May, driven by a boom in semiconductor products. The category accounts for 29% of overall export prices.South Korea recently reported that trade surplus hit an all-time high in May, boosted by strong chip exports that pushed overall shipments to their fastest growth in four decades.Semiconductor exports alone surged 169% to $37.2 billion during the month, led by capital investments by US tech companies. ING noted that chip exports accounted for 42.3% of South Korea's overall exports in May.Strong demand for chips recently translated into surging equity valuations for South Korea's tech giants, with SK Hynix (KRX:000660) joining the $1 trillion market capitalization club for the first time alongside rival Samsung Electronics (KRX:005930)."Market sentiment appears to be shifting toward the view that the semiconductor upcycle will last longer than previously expected," BNP Paribas economist Jeeho Yoon was quoted by Bloomberg as saying recently.

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Asia

South Korean Shares Open Higher on US-Iran Deal, Upbeat Export Price Data

South Korean shares opened sharply higher on Tuesday on elevated investor sentiment after the U.S. and Iran signed a memorandum of understanding to end the Middle East war.The benchmark Korea Composite Stock Price Index, or Kospi, rose 1.8%, or 150.57 points, to open at 8,696.55. The Kosdaq, however, marginally declined to open at 1,039 points.Senior U.S. officials confirmed the signing of an MOU, with a formal signing ceremony expected to take place on Friday, Reuters reported.At home, sentiment was boosted by a faster increase in export prices in May, boosted by the rally in exports of semiconductor-linked products.

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International

South Korea's Export Prices Jump 46.9% in May

South Korea's export prices surged 46.9% year over year in May, according to preliminary data released by the Bank of Korea on Tuesday.The pace of growth accelerated from the revised 41.3% increase recorded in the previous month.The movement in the index was driven primarily by a faster jump in export prices of agricultural, forestry and marine products, as well as manufacturing products.On a month-over-month basis, export prices edged up 0.3%, easing from the 7.5% growth the previous month.

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International

South Korea's Import Prices Jump 24.8% in May

South Korea's import prices surged 24.8% year over year in May, according to preliminary data released by the Bank of Korea on Tuesday.The pace of growth accelerated from the revised 20.5% increase recorded in the previous month.The movement in the index was driven primarily by a faster jump in import prices of raw materials, immediate goods, capital goods and consumer goods.On a month-over-month basis, import prices edged down 0.3%, softer than the 2.1% drop the previous month.

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International

Asia Week Ahead: Central Bank Decisions; Inflation; and Trade

The week ahead in Asia will be packed with a number of central bank decisions and macroeconomic data, with investors set to track the impact of the Middle East conflict on regional economies.The economic calendar starts quietly on Monday with services activity data from Japan, whole inflation figures from India and New Zealand's services PMI.Activity picks up Tuesday as the Reserve Bank of Australia and Bank of Japan announce policy decisions, while China releases a batch of closely watched activity indicators.Wednesday shifts the focus to trade, with Japan and Singapore due to report May figures.Thursday brings a cluster of central bank decisions from Taiwan, Indonesia and the Philippines, with New Zealand's first-quarter GDP and Thailand's trade data also on deck.Friday rounds out the week with inflation data from Japan and Malaysia, with New Zealand reporting trade numbers.Here's what to watch in the week ahead.MONDAY, June 14The week was off to a relatively light start with a handful of releases from India, New Zealand, and Japan.Japan released its tertiary industry activity index for April, a measure of change in the total value of services provided and consumed by the country's service sector.The index rose a seasonally adjusted 1.3% month on month, reversing from a 0.6% decline in the prior month and recording its first increase in three months.It also beat the Trading Economics forecast of a 0.5% increase.In New Zealand, the BusinessNZ Performance of Services Index fell to 47.5 in May from a downwardly revised 48.7 in April, marking a fourth straight month of contraction in the services sector. Trading Economics said the decline came as the Iran war weighed on business activity.India's annual wholesale price index (WPI)-based inflation rate rose to 9.68% year over year in May. The reading was higher than the consensus forecast of 9.10% tracked by Investing.com and compared with an 8.26% pace recorded in the prior month.Later Monday, India reports unemployment stats for May.TUESDAY, June 16Macro activity picks up Tuesday with central bank decisions scheduled in Australia and Japan, and a slew of monthly data from China.The Reserve Bank of Australia is expected to hold the official cash rate steady at 4.35%, according to a Trading Economics consensus.Economists at National Australia Bank said the latest decision would mark the end of the tightening cycle, with the next move likely down and now expected in the second quarter of 2027.In contrast, the Bank of Japan is forecasted to raise interest rates by 25 basis points to 1%, according to a Trading Economics consensus estimate.Bloomberg reported earlier June that the central bank was considering raising the policy rate amid high uncertainties over the Middle East conflict. Officials were expected to sift through as much data as possible until the last minute before making a final decision, though the decision to raise rates was unlikely to be unanimous, according to the report.China's industrial production and retail sales stats will also be in the news, alongside monthly unemployment and housing price data.Markets will review the figures to gauge how well the country's economy is faring amid the Middle East conflict. According to the Wall Street Journal, the data is likely to indicate overall improvement and economic resilience despite the macro headwinds.Hong Kong will report unemployment data the same day, while trade stats will be in focus in India and South Korea.In New Zealand, markets will await food inflation data which is expected to show "modest increases," according to CommBank.WEDNESDAY, June 17Focus shifts Wednesday to trade data from Singapore and Japan.Japan is expected to record a trade deficit of 564.6 billion yen in May, reversing from a 301.9 billion yen surplus a month earlier, according to a Trading Economics consensus.Wednesday will also bring the Reuters Tankan Index for June, a key gauge of Japanese business confidence, along with monthly machinery orders data.Meanwhile, Singapore's trade surplus is expected to narrow to $7 billion in May from $13.07 billion in April, according to Trading Economics. The city-state is also due to release monthly non-oil export data.A forward-looking report from Westpac capturing consumer confidence in New Zealand is also scheduled for Wednesday.THURSDAY, June 18Central banks across Taiwan, Indonesia and The Philippines will meet for interest rate decisions Thursday.Bank Indonesia will be in focus after it unexpectedly raised interest rates by 25 basis points earlier this month to support the rupiah.While some economists expect the central bank to deliver another 25 basis point hike, ING expects Bank Indonesia to hold rates steady and instead prioritize alternative measures to attract foreign capital inflows and stabilize the currency.The Philippines' central bank, Bangko Sentral ng Pilipinas, is widely expected to raise its benchmark rate by 25 basis points to 4.75% amid persistent inflationary pressure, according to a Trading Economics consensus.Meanwhile, Taiwan's central bank is expected to hold rates steady at 2%. ING said it will be monitoring the Central Bank of the Republic of China's press conference for clues on a possible rate hike in the third quarter.Elsewhere, New Zealand will report its first quarter gross domestic product growth rate. CommBank said it expects quarterly growth to reach 0.8%, shy of the Reserve Bank of New Zealand's 1% forecast.While the economy started 2026 with a decent moment, there will be "pockets of weakness" highlighting that economic recovery was a "bit patchy," CommBank said in a preview.Lastly, Thursday will feature Thailand's trade figures for May.FRIDAY, June 19The week rounds off with closely watched inflation data from Japan.According to ING, May's consumer prices could record a rise of 1.6% year on year, accelerating marginally from 1.4% in April. The subdued increase would reflect government measures, though price pressures are likely to broaden, ING said.Malaysia's headline inflation, also due the same day, is similarly expected to show a marginal rise to 2% year-on-year in May from 1.9% in April due to government fuel subsidies and stable food prices, the Wall Street Journal reported, citing DBS.Malaysia will additionally report monthly trade figures on Friday, while Macao will release monthly inflation data the same day.Trade figures from New Zealand will also feature Friday. According to a Trading Economics consensus, New Zealand's May trade surplus could narrow to NZ$875 million from NZ$1.92 billion a month earlier.South Korea's producer price inflation will also be among the highlights of the day.

ASX 200^BSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225Nifty 50^NZ50^PSEIM^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

South Korea Shares Close Sharply Higher on US-Iran Peace Deal

South Korean shares closed sharply higher on Monday after the U.S. and Iran reached an agreement to end the war in the Middle East.The benchmark Korea Composite Stock Price Index, or Kospi, surged 5.2%, or 422.36 points, to close at 8,545.98. The Kosdaq increased by 0.5%, or 4.98 points, to end at 1,034.03.U.S. President Donald Trump said on Truth Social on Monday that the deal with Iran would keep the Strait of Hormuz permanently open "toll-free" to shipping. He also authorized the immediate removal of the U.S. naval blockade from the key waterway.The Korea Exchange activated a five-minute buy-side sidecar on the main Kospi market on Monday morning after a surge in buying activity triggered the market safeguard mechanism.In economic news, South Korea's information and communication technology (ICT) exports rose 128.9% to $47.79 billion in May from a year earlier, marking the highest-ever ICT export growth rate, the Ministry of Trade, Industry and Energy said in a Sunday release.In corporate news, Hanwha Ocean (KRX:042660) secured an order for the construction of four VLCC vessels worth 800.1 billion won from an unnamed Asian shipper.Shares of the shipbuilder rose nearly 9% at market close on Monday.

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International

South Korean Securities, Futures Trading Firms' Net Income Jumps 77% in Q1

The preliminary net income of securities and futures trading companies in South Korea jumped 77.1% to 4.327 trillion won in the January-March quarter from 2.443 trillion won in the same period last year, the Financial Supervisory Service said in a Sunday release.Return on equity added 1.6 percentage points to 4.3% for the first quarter from 2.7% a year earlier, according to the release.The securities companies earned a total of 6.693 trillion won in commission income in Q1, up 98.9% from 3.365 trillion won a year earlier, it said.

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International

South Korea's Household Loans Accelerate in May

South Korea's household loans rose by 9.3 trillion won in May, sharply higher than the 3.5 trillion won increase in April, according to a June 11 release from the Financial Services Commission.Home-backed mortgage loans grew by 4 trillion won during the month, easing from a 5.5 trillion won gain in April.At banks, mortgage lending accelerated to 3.2 trillion won from 2.7 trillion won, while growth in non-bank mortgage lending slowed sharply to 800 billion won from 2.8 trillion won.Other loans increased by 5.3 trillion won, rebounding from a 2 trillion won decline in April, driven by credit loans, which swung to a 3.4 trillion won gain from a 900 billion won drop.

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International

South Korea's ICT Exports Surge 129% in May

South Korea's information and communication technology (ICT) exports rose 128.9% to $47.79 billion in May from a year earlier, marking the highest-ever ICT export growth rate, the Ministry of Trade, Industry and Energy said in a Sunday release.Imports increased 36% to $15.70 billion, resulting in a trade surplus of $32.09 billion, the release said.Exports increased across all major ICT categories in the month, with semiconductors surging 169.2%, mobile phones up 15.9%, displays adding 2.8%, computers and peripherals soaring 259.6%, and communication equipment up 3.7%, it said.

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Asia

South Korean Shares Open 5% Higher on US-Iran Peace Agreement

South Korean shares opened sharply higher on Monday after the U.S. and Iran signed a memorandum of understanding to end the war that has been raging since February.The benchmark Korea Composite Stock Price Index, or Kospi, rose 5%, or 402.5 points, to open at 8,526.12. The Kosdaq also increased by 1.9%, or 19.14 points, to open at 1,048.19.U.S. President Donald Trump said on Truth Social on Monday that the deal with Iran would keep the Strait of Hormuz permanently open "toll-free" to shipping. He also authorized the immediate removal of the U.S. naval blockade from the key waterway.Oil prices declined sharply in early Asian trading after the agreement made the way for the reopening of the Strait of Hormuz, easing concerns over global supply disruptions. Brent crude shed 3.8% to $84.02 a barrel, while U.S. crude futures slipped 4.1% to $81.40.

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Asia

US, Iran Reach Peace Agreement, Formal Signing Due Friday

U.S. and Iranian officials have confirmed a peace agreement to end the war and reopen the Strait of Hormuz, with a formal pact expected to be signed in Switzerland on Friday.U.S. President Donald Trump said in a post on Truth Social that the agreement with Iran was "complete" and authorized the immediate lifting of the U.S. naval blockade.Separately, Iran's Deputy Foreign Minister Kazem Gharibabadi confirmed that an agreement had been reached to end the conflict, according to multiple media reports.Pakistan Prime Minister Shehbaz Sharif, who mediated the negotiations, said in a post on X that the peace accord would be signed on Friday, June 19.Sharif added that both sides had agreed to an immediate and permanent cessation of military operations across all fronts, including in Lebanon.

^BSE^HNXHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSE^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

Market Chatter: Bank of Korea Governor Signals Timely Rate Hikes Amid High Inflation

The Bank of Korea flagged the need for timely interest rate hikes, as inflation is expected to remain above its 2% medium-term target for a considerable period, Reuters reported.Governor Shin Hyun-song was quoted Friday as saying that the central bank will "raise interest ​rates on time with a focus on price stability," adding that monetary policy conditions suggest one clear direction.Recent government data showed that consumer price growth in South Korea reached a two-year high in May.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

South Korean Stocks Close Higher as Investors Anticipate Possible End to US-Iran War

South Korean shares closed higher on Friday after U.S. President Donald Trump said an agreement to end the war with Iran was possible, backing off from planned strikes.Trump had previously threatened a strong response against the Middle Eastern country, but later said that negotiations had made substantial progress. However, Iranian Foreign Ministry spokesman Esmail Baghaei dismissed reports of an agreement as "speculative" and clarified that nothing had yet been finalized.The benchmark Korea Composite Stock Price Index, or Kospi, rose 4.6%, or 359.67 points, to close at 8,123.62. The Kosdaq also increased by 3.2%, or 32.12 points, to end the day at 1,029.05.In corporate news, Samsung Electronics (KRX:005930) is currently in discussions with Alphabet's Google to manufacture a part of its ​next-generation artificial intelligence (AI) processor, Reuters reported Thursday, citing people familiar with the matter.Google plans to have Taiwan Semiconductor Manufacturing Company (TPE:2330) manufacture the primary compute chip for its next-generation tensor processing unit, called Icefish, while Samsung Electronics may manufacture a memory interface component using its 2-nanometer process technology.Icefish is being developed in collaboration with MediaTek at present, with mass production possibly commencing in 2028.Shares of Samsung Electronics jumped nearly 8% at market close, while those of TSMC added nearly 3%.

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International

Market Chatter: Bank of Korea Policymaker Backs Timely Rate Hike

South Korea's central bank should raise interest rates "on time" as inflation is expected to remain above target for a considerable period, Reuters reported Friday, citing Bank of Korea Governor Shin Hyun-song.Shin said monetary policy should focus on price stability, adding that recent data and higher oil prices triggered by the Middle East conflict support the case for tighter policy, according to the report.South Korea's consumer inflation accelerated to 3.1% in May, its highest level in more than two years.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

South Korean Shares Open Sharply Higher on Hopes of US-Iran Deal

South Korean shares opened sharply higher on Friday after U.S. President Donald Trump claimed that Washington and Tehran had reached a "great settlement" and were finalizing documents for an agreement.The benchmark Korea Composite Stock Price Index, or Kospi, rose 6.4%, or 499.9 points, to open at 8,263.85. The Kosdaq increased by 3%, or 30.12 points, to open at 1,027.05.

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Asia

Market Chatter: Asia May Face Stagflation Amid Middle East Crisis, ADB President Says

With the war in the Middle East driving up inflation in global economies, Asian economies are at risk of stagflation, Nikkei Asia reported Thursday, citing Asian Development Bank President Masato Kanda.As inflation pressures mount, "There is now a risk of stagflation spiral" due to "declines in demand through lower real wages, and increases in debt burdens from higher interest rates," Kanda told the news outlet on the sidelines of Nikkei's annual Future of Asia forum.According to Kanda, higher shipping, energy, and input costs will lead to a further rise in consumer prices in Asia. There was a risk that the supply chain system would "physically stop functioning," he said.Asian countries are especially impacted by the energy crisis arising from the Middle East war, as they are highly dependent on energy imports that come in through the Strait of Hormuz, the report added."In addition to diversification of the destination of oil and gas, accelerated use of renewable energy and safe nuclear power, as well as stronger energy saving, should have been promoted," Kanda said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^BSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSENifty 50^PSEI^SETShanghai Composite^SZSETaiwan Weighted
Asia

South Korean Shares Close Slightly Higher Amid Cautious Investing, Fresh US-Iran Tensions

South Korean shares closed marginally higher on Thursday as investors remained cautious after the U.S.-Iran war escalated.Iran's Islamic Revolutionary Guard Corps (IRGC) launched retaliatory attacks at 18 US military targets at airbases in Kuwait, Bahrain, and Jordan, according to Iranian media reports. The strikes came after the United States military's Central Command (CENTCOM) said it had attacked multiple targets in Iran, describing the operations as acts of "self defense."The Korea Composite Stock Price Index or Kospi rose 33.13 points, or 0.4%, to end at 7,763.95. The Kosdaq also increased by 45.3 points, or 4.5%, to close at 996.93.In corporate news, Gaonchips (KOSDAQ:399720) secured an application-specific integrated circuit (ASIC) semiconductor design and development contract from an undisclosed AI semiconductor company, according to a Thursday filing with the Korea Exchange. The contract, valued at 29.6 billion won, is valid till June 30, 2028.Shares of Gaonchips rose nearly 7% at market close.In other news, SK Hynix (KRX:000660) plans to raise its wafer capacity by three times by 2034 to keep up with the increasing demand for memory chips needed for AI computing, SK Group Chairman Chey Tae-won told Nikkei Asia in an interview on Wednesday.The chipmaker is currently building four semiconductor fabrication plants in South Korea's Yongin, with the first facility expected to be completed in early 2027. Chey said the company accelerated the project timeline by a decade, bringing forth a plan that was initially expected to run till 2045.Shares of SK Hynix jumped nearly 3% at market close.

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Asia

Fitch Retains Neutral Outlook on Asia-Pacific Insurance Sector

Fitch Ratings has kept a neutral outlook for the Asia-Pacific insurance sector, according to a recent release.Solid capital buffers, controlled underwriting, and improved asset-liability management mitigate market headwinds, modestly increasing claim inflation, and new regulatory solvency regimes, according to Fitch.Moderately higher claim costs, along with supply chain disruption from geopolitical tensions, have reduced nonlife underwriting margins in the region, Fitch said.Increasing health and motor losses pressure profitability in Korea and Indonesia, while home and motor repair costs show stickiness in Australia, the rating agency said.Rising interest rates, a better reinsurance environment, and prior-period pricing actions offset claim inflation, but late-cycle market and credit risk linger, Fitch said.Japanese insurers face higher capital requirements through a new economic value-based solvency regulation, while Indonesian counterparts are undergoing the first phase of higher minimum equity requirements, according to Fitch.Meanwhile, lingering structural issues led to a deteriorating outlook in China and Taiwan, the rating agency said.

ASX 200^JKSE^KOSDAQKOSPINikkei 225Shanghai Composite^SZSETaiwan Weighted
South Korea Fines Coupang KRW625 Billion for Massive Data Breach
US Markets

South Korea Fines Coupang KRW625 Billion for Massive Data Breach

The South Korean government will fine New York-listed e-commerce giant Coupang 624.7 billion won following a massive leak of personal customer information and the illegal collection of personal data, the country's privacy watchdog announced Thursday.The fine equates to roughly 1.4% of Coupang's 45 trillion won revenue in 2025, Reuters reported. The company, which is operationally based in Seoul, generates more than 90% of its total revenue from South Korea.In addition to the primary fine, Coupang faces a 16.8 million won administrative penalty, corrective orders, and a mandate for public disclosure, South Korea's Personal Information Protection Commission (PIPC) said.The regulatory body also fined Coupang's logistics subsidiary, Coupang Fulfillment Service, 248 million won for violating data collection and sensitive information usage provisions.According to the commission, Coupang allowed the personal details of 37.6 million customers to leak due to insufficient basic security management systems, as well as negligence in authentication management and access control.The platform also illegally collected online activity records of about 11.2 million members through third-party websites and stored them in a database, the commission added.Coupang also failed to supervise its advertising partners displaying fraudulent ads, resulting in the illegal collection of records without user consent, according to the regulator.The regulatory crackdown follows a prior disclosure by South Korea's science ministry that a former employee had stolen a security key to gain access to customer accounts without authorization, Reuters reported separately.Coupang also failed to detect an unusual surge in traffic to its customer data until a customer flagged it, the newswire said.The South Korean government had earlier said its probe on Coupang was not related to trade or security concerns and should be dealt with separately from its ongoing talks with Washington.

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Asia

Market Chatter: South Korea Fines Coupang Record 624.7 Billion Won Over Data Breach

South Korea's Personal Information Protection Commission imposed a record 624.7 billion won fine on Coupang over a large-scale personal data breach, Bloomberg News reported Thursday.The penalty is reportedly the largest ever imposed in the country for a personal information breach, surpassing the 134.8 billion won fine levied on SK Telecom last year.The regulator said a former employee improperly accessed personal information from nearly 34 million user accounts, and that the breach went undetected for months, according to the report.The commission attributed the incident to inadequate internal controls and data protection measures rather than a sophisticated cyberattack, it added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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