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International

South Korea's Business Sentiment Improves to Over Three-Year High in May

The composite business sentiment index in all industries in South Korea increased four points to 98.9 in May from 94.9 in April, while the outlook for the next month added 3.7 points to 97.6, according to data released by the Bank of Korea on Wednesday.The latest print marked the highest in over three years.The seasonally adjusted composite business sentiment index for the manufacturing sector added 1.7 points to 100.8, while the outlook for the following month also added 2.3 points to 100.3, the central bank said.For the non-manufacturing sector, the seasonally adjusted composite business sentiment index increased 5.4 points to 97.5, while the outlook for the following month added 4.7 points to 95.9.Meanwhile, the economic sentiment index, a composite of the business survey and consumer survey indices, went up 5.8 points to 97.5.

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International

Market Chatter: South Korea Manufacturing Confidence Rebounds for June

South Korea's manufacturing sentiment rebounded for June for the first time in three months, supported by strong optimism in the semiconductor sector despite the ongoing tensions in the Middle East, Yonhap News reported Tuesday, citing the Korea Institute for Industrial Economics & Trade.The professional survey index (PSI) for the manufacturing sector's business outlook increased to 107 in June from 95 in May. The PSI outlook had remained below the 100 mark for April and May before returning above 100 for June, the report said.A PSI reading above 100 indicates optimists outnumbering pessimists, while a reading below 100 signals the opposite.Confidence improved across the display, automobile, machinery, and bio-health sectors, while confidence in the shipbuilding and steel sectors declined to 100 and 122 for next month, respectively. Confidence in the mobile phone and textile sectors remained below the threshold at 80 and 93, respectively, the report 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.)

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Asia

South Korean Stocks Hit New High Above 8,000 on Hopes of US-Iran Deal

South Korean stocks closed at a new high, above the 8,000-point level on Tuesday, as investors hoped for a U.S.-Iran agreement to reopen the Strait of Hormuz.The Korea Composite Stock Price Index or Kospi jumped by 199.8 points, or 2.6%, to end at 8,047.51. The Kosdaq also increased by 11.39 points, or 1%, to close at 1,172.52.Brent crude rose 2% to $98.26 a barrel on Tuesday after the U.S. carried out military operations in southern Iran and mixed signals from U.S. President Donald Trump on Washington-Tehran negotiations kept traders on edge, while U.S. WTI crude futures were down 5.1% at $91.73 per barrel.Despite the ongoing ceasefire and negotiations to permanently end the war, the U.S. targeted and attacked Iranian missile launch sites and boats around the Strait of Hormuz in what its military called "self-defense strikes."The strikes took place after Iranian foreign ministry spokesman Esmail Baqai said that although talks progressed with the U.S., a deal to end the conflict "is not imminent".In economic news, South Korea's central bank is expected to hold the base rate steady at 2.50% at its rate-setting meeting on May 28, 30 out of the 32 economists projected in a poll by Reuters.In addition, most of the economists expect one or more rate hikes by the end of this year as the U.S.-Iran war is projected to add inflationary pressures, Reuters said.The rate hike expectations come after inflation surpassed the central bank's 2% target, with April inflation hitting its highest level in nearly two years as the ongoing war in the Middle East and the blockade of the Strait of Hormuz kept oil prices above $100 a barrel for almost three months.The Bank of Korea is also expected to raise this year's growth forecast from 2% on Thursday, making the case strong for further rate hikes ahead.In corporate news, Sunic System (KOSDAQ:171090) secured a large-area deposition equipment contract for organic light-emitting diode deposition equipment from LG Display (KRX:034220), according to a filing with the Korea Exchange on Tuesday.The contract, the value of which was undisclosed, is valid till May 21, 2027.Shares of the electrical components manufacturer rose more than 1% at market close, while those of LG Display rose over 3%.

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International

Market Chatter: Bank of Korea Expected to Hold Rate Steady at 2.50%

South Korea's central bank is expected to hold the base rate steady at 2.50% at its rate-setting meeting on May 28, 30 out of the 32 economists projected in a poll by Reuters.In addition, most of the economists expect one or more rate hikes by the end of this year as the U.S.-Iran war is projected to add inflationary pressures, Reuters said.The rate hike expectations come after inflation surpassed the central bank's 2% target, with April inflation hitting its highest level in nearly two years as the ongoing war in the Middle East and the blockade of the Strait of Hormuz kept oil prices above $100 a barrel for almost three months, it said.The Bank of Korea is also expected to raise this year's growth forecast from 2% on Thursday, making the case strong for further rate hikes ahead, the report 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.)

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Asia

South Korean Stocks Hit Record High on Middle East Optimism

South Korean stocks opened at a new high on Tuesday, crossing the 8,000-point threshold as investors hoped for a U.S.-Iran agreement to reopen the Strait of Hormuz.The benchmark Korea Composite Stock Price Index, or Kospi, rose 2.8%, or 223.2 points, to open at 8,070.91. The Kosdaq increased 2.4%, or 28.15 points, to open at 1,189.28.Optimism over a possible end to the conflict in the Middle East led oil prices to decline sharply as well. Brent crude plunged 7% to $96, and U.S. West Texas Intermediate futures shed 6.5% to $90.Despite the ongoing ceasefire and negotiations to permanently end the war, the U.S. targeted and attacked Iranian missile launch sites and boats around the Strait of Hormuz in what its military called "self-defence strikes."The strikes took place after Iranian foreign ministry spokesman Esmail Baqai said that although talks progressed with the U.S., but a deal to end the conflict "is not imminent".The strikes were made on an area near Iran's southern port city of Bandar Abbas, home of a naval base that sits on the Strait of Hormuz.

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International

Asia Week Ahead: Policy Rate Decisions, Inflation Prints and GDP Reports

Asia's economic calendar this week features a mix of inflation data, interest rate decisions, GDP releases and industrial figures across the region.The week opens with Singapore's GDP and inflation data, plus Thailand's trade figures, followed on Tuesday by Taiwan's industrial production and retail sales reports.Mid-week, attention turns to the Reserve Bank of New Zealand's policy decision and Australia's inflation print. On Thursday, the Bank of Korea will announce its rate decision, while Hong Kong releases trade data and India reports industrial and manufacturing output figures.Friday will be the busiest day for macro releases, led by a batch of key indicators from Japan. The week wraps up with China's PMI readings on Sunday.Here's what to watch in the week ahead.MONDAY, May 25Singapore's economy grew 6.0% year over year in the first quarter, government data showed, beating the 4.6% flash estimate and accelerating from the 5.7% growth in Q4.The expansion was driven by strong performances in the wholesale trade, manufacturing, and finance and insurance sectors.Meanwhile, the city-state's annual inflation rate held steady at 1.8% in April, unchanged from March but below market expectations of 2%.Core inflation, on the other hand, eased to 1.4% in April from 1.7% a month prior.In Thailand, exports surged 23.1% year over year to $31.6 billion in April, accelerating from an 18.7% increase in March and beating forecasts of 16.2%.Imports likewise strengthened, expanding 45% in April to $41.6 billion, compared with a rise of 35.7% a month prior.As a result, the trade deficit ballooned to $10.02 billion in April from $3.3 billion a year earlier, far above forecasts of a $5.1 billion shortfall.TUESDAY, May 26Singapore will release its April industrial production data, while Taiwan is due to report both industrial production and retail sales figures for the month.WEDNESDAY, May 27New Zealand's central bank will hold its policy meeting, with analysts expecting no change to the country's official cash rate of 2.25%, according to a Trading Economics consensus.Australia is set to release inflation figures on the same day. Consumer prices rose 4.6% year on year in March, the fastest pace since September 2023, and are expected to accelerate to 5.1% in April as oil prices climb amid the Middle East conflict.Meanwhile, China will report its industrial profits for April. A pair of confidence reports covering business and consumer sentiment will be due in South Korea and Taiwan, respectively.THURSDAY, May 28The Bank of Korea is set to meet for its policy rate decision, with markets watching for any change to its current 2.5% benchmark rate amid inflation and growth pressures linked to the ongoing conflict in the Middle East.Hong Kong will release its monthly trade figures. The April reading could show a narrowing of the trade deficit to HK$46 billion from HK$89.1 billion in March, Trading Economics forecasted.Meanwhile, India will report its industrial and manufacturing production data for April.Markets will also watch New Zealand's ANZ Business Confidence report for May, after the index dropped to -10.6 in April -- its first negative reading since August 2023 -- as the Middle East conflict weighed on sentiment.FRIDAY, May 29Japan's usual end-of-month data deluge, which includes the release of inflation, unemployment rate, industrial production and retail sales, will provide insights into the country's economic health.Markets will also watch Taiwan's final Q1 GDP growth figures for any revision from the preliminary estimate, which showed the economy expanding by 13.7%.Other highlights include trade balance figures from Macau and the Philippines, and export and import price data from Singapore.Both South Korea and Thailand will report their monthly industrial production and retail sales stats, while Macau will report its unemployment rate for April.Lastly, a report capturing business confidence in April will be due in the Philippines.SUNDAY, May 31China, the biggest economy in Asia, will release its official May PMI data covering manufacturing, non-manufacturing and general activity.

ASX 200^BSEHang SengKOSPINikkei 225^NSE^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

Market Chatter: South Korea to Allow Overseas Investors to Directly Invest in ETFs

South Korea plans to allow overseas investors to directly invest in domestic exchange-traded funds (ETFs), in a bid to attract more foreign investment amid the country's primary stock market index's recent record rally, Yonhap News reported Sunday.The Financial Services Commission is pushing for regulatory revisions to give foreign investors direct access to the country's ETFs and plans to issue a prior notice in June. The measure could be introduced in the second half of 2026 if the Financial Services Commission and the finance ministry resolve withholding tax issues and brokerages conclude trading system upgrades, analysts said, according to the report.The Korea Composite Stock Price Index, or Kospi, has surged 82% so far this year, fueled by strong gains in the stocks of Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) amid the AI boom worldwide, it 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.)

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International

Market Chatter: South Korea's Middle East Crude Imports Plunge 37% in April

South Korea's crude oil imports from the Middle East fell 37.3% to 4.49 million tons in April from a year earlier, amid the ongoing conflict between the U.S. and Iran, which has raised geopolitical tensions in the region, Yonhap News reported Sunday, citing data compiled by the Korea International Trade Association (KITA).Imports from the Middle East accounted for 53.1% of the country's total imports in the month. Total crude imports fell 22.8% to 8.46 million tons in April from a year earlier, the report said.Imports from South Korea's key supplier, Saudi Arabia, shed 37.6% on-year to 2.14 million tons in April, while combined U.S. crude imports added 13.4% to 2.14 million tons, it 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.)

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Asia

Market Chatter: Dutch Ambassador Emphasizes Broader Chip Cooperation With South Korea Beyond ASML

The Netherlands-based chip equipment giant ASML supplies extreme ultraviolet (EUV) lithography machines to Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660), however, the Netherlands' semiconductor ties with South Korea extend far beyond a single company, Peter van der Vliet, the Dutch ambassador in Seoul, told Nikkei Asia on Sunday.Dutch firms ASM International, BE Semiconductor Industries, and the research organization TNO are active partners of South Korean chipmakers, the report said.Vliet said that the two countries could deepen cooperation in next-generation chip manufacturing technologies, particularly in photonics, which uses light instead of electronics to process and transmit data in semiconductors, it 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.)

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Asia

Market Chatter: South Korean Government to Supply 90,000 Youth Rental Homes in Greater Seoul Area by 2027

South Korea plans to supply about 90,000 rental housing units for young people in the greater Seoul area by 2027 in a bid to ease housing shortages and enhance living conditions, Yonhap News reported Friday, citing Finance Minister Koo Yun-cheol.Out of the total, 66,000 units will be situated in regulated zones. The government will focus on non-apartment housing that can be supplied at a faster pace. These will comprise multifamily homes and compact studio units, the report said.The government also plans to expand modular construction methods to shorten project timelines and lower financial burdens on developers, it 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.)

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Asia

South Korean Shares Rise Marginally on US-Iran Deal Optimism; Samsung Electronics Shares Decline Over 2%

South Korean stocks closed marginally higher on Friday, extending gains for a second straight session amid growing optimism over a potential resolution between the US and Iran.The Korea Composite Stock Price Index or Kospi edged up by 32.12 points, or 0.4%, to end at 7,847.71. The Kosdaq also increased by 55.16 points, or 5%, to close at 1,161.13.In economic news, South Korea's composite consumer sentiment index rose to 106.1 in May from 99.2 in April, according to data released by the Bank of Korea on Friday. A reading above 100 indicates an improved outlook, while a reading below 100 suggests pessimism.Sentiment toward current living standards rose two points to 93, while sentiment on the future outlook gained five points to 97.The outlook for future household income was up two points to 100, while the sentiment for future household spending also rose by two points to 110.In other economic news, newly issued household loans per borrower in South Korea were up by 990,000 won to hit 35.42 million won in the first quarter from the previous quarter, while average mortgage loans increased by 16.53 million won to 229.39 million won, the Bank of Korea said in a Friday release.Loan growth was particularly notable among borrowers in their 30s, residents of the Seoul metropolitan area, borrowers taking loans from non-bank financial institutions, and mortgage loan holders.In corporate news, Samsung Electronics (KRX:005930) struck a last-minute deal with its labor union, and as a result of the agreement, it will distribute about 40 trillion won among its 78,000 employees in the semiconductors division.Under the proposed terms, Samsung employees could receive average bonuses of about 513 million won, the news agency reported, based on its calculations using the projected 2026 operating profit.The company reported average employee pay of 158 million won last year.Under the tentative deal, which still requires labor union approval, the chipmaker will distribute 10.5% of profit as stock bonuses and an additional 1.5% in cash. The bonus program will run annually for 10 years, given that profit targets are achieved. Analysts estimate Samsung's operating profit could surge sevenfold to around 333 trillion won in 2026.Shares of Samsung Electronics fell more than 2% at market close.

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International

South Korean Household, Mortgage Loans Increase in Q1

Newly issued household loans per borrower in South Korea were up by 990,000 won to hit 35.42 million won in the first quarter from the previous quarter, while average mortgage loans increased by 16.53 million won to 229.39 million won, the Bank of Korea said in a Friday release.Loan growth was particularly notable among borrowers in their 30s, residents of the Seoul metropolitan area, borrowers taking loans from non-bank financial institutions, and mortgage loan holders, the release said.As of March-end, the average household loan balance per borrower was 97.40 million won, while average mortgage balances rose by 1.79 million won to 160.06 million won in Q1 from the same period last year.

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International

South Korea Consumer Confidence Bounces Back to Optimism

South Korea's composite consumer sentiment index rose to 106.1 in May from 99.2 in April, according to data released by the Bank of Korea on Friday.A reading above 100 indicates an improved outlook, while a reading below 100 suggests pessimism.Sentiment toward current living standards rose two points to 93, while sentiment on the future outlook gained five points to 97.The outlook for future household income was up two points to 100, while the sentiment for future household spending also rose by two points to 110.Optimism regarding current local economic conditions increased by 15 points to 83, and the reading for future domestic economic conditions was 14 points higher at 93.

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Asia

South Korean Shares Open Higher on Overnight Wall Street Gains, Middle East Conflict End Optimism

South Korean stocks opened higher on Friday, extending the previous session's strong rally due to technology stock gains and tracking overnight advances on Wall Street amid increasing hopes for a resolution between the U.S. and Iran.The benchmark Korea Composite Stock Price Index, or Kospi, rose 0.7%, or 57.53 points, to open at 7,873.12. The Kosdaq also increased 1.2%, or 13.46 points, to open at 1,119.43.Despite the optimism, U.S. crude futures rose more than $1 in early Friday trading as investors somewhat remained skeptical about the possibilities of a breakthrough in the ongoing peace talks. U.S. West Texas Intermediate crude climbed as high as $98 a barrel and was last up $1.20, or 1.3%, at $97.55 as of 22:28 GMT, after declining about 2% in the previous session to its lowest close in nearly two weeks.U.S. Secretary of State Marco Rubio said there were "some good signs" emerging from mediated peace talks with Iran, but warned that President Donald Trump has made clear the U.S. has "other options" if negotiations fail. An undisclosed "senior Iranian source" told Reuters that no peace agreement has been reached with the U.S., but the differences have definitely been narrowed.Meanwhile, Iran's Islamic Revolutionary Guard Corps said 31 ships passed through the Strait of Hormuz over the past 24 hours under its coordination.

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International

Market Chatter: Seoul Apartment Prices Mark Fastest Increase Since January-End Ahead of Bank of Korea Policy Meet

Apartment prices in Seoul increased 0.31% in the week through May 18, marking the fastest weekly increase since Jan. 26, ahead of the Bank of Korea's next rate-setting meeting on May 28, Bloomberg reported Thursday, citing data released Thursday by the Korea Real Estate Board (KREB).Governor Shin Hyun Song will chair the meeting, which is his first rate policy meeting since taking office in April, the report said.Gains in the week through May 18 marked the 68th straight week of gains. Apartment prices across the country also edged up at a marginally faster rate of 0.07%, the report said.Buyer wait-and-see sentiment was higher across some districts, but the cost-driving factor across other areas of Seoul was the strong demand for redevelopment projects and apartments with strong residential conditions, the report said, citing the KREB.(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 Surge on Optimism Over US-Iran Peace Deal, Samsung-Union Agreement

South Korean shares closed higher on Thursday after investors went on a stock purchasing spree amid growing optimism over a possible U.S.-Iran peace agreement and Samsung Electronics' (KRX:005930) tentative wage deal with its labor union.The Korea Composite Stock Price Index or Kospi jumped by 606.64 points, or 8.4%, to end at 7,815.59. The Kosdaq also increased by 49.9 points, or 4.7%, to close at 1,105.97.The strong gains earlier in the day had led the Korea Exchange to activate a five-minute buy-side sidecar on the country's primary and secondary stock to prevent market overheating.In economic news, producer prices in South Korea increased 6.9% in April from a year earlier, accelerating from 4.1% in March and marking the strongest increase since October 2022, according to preliminary data from the Bank of Korea on Thursday.In corporate developments, Samsung and its largest labor union appeared to agree on a proposed wage agreement, which suspended plans for a strike scheduled from May 21 to June 7.Under the proposal, Samsung Electronics will introduce a special performance bonus program for semiconductor employees tied to profitability. The 10-year scheme sets annual profit targets of 200 trillion won from 2026 to 2028 and 100 trillion won from 2029 to 2035, the report said.Shares of the chipmaker jumped nearly 9% at market close on Thursday.

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South Korea Producer Prices Rise 6.9% in April on Surge in Petroleum Prices
US Markets

South Korea Producer Prices Rise 6.9% in April on Surge in Petroleum Prices

South Korean producer prices jumped in April to their highest yearly level since October 2022 on a surge in coal and petroleum products stemming from the crisis in the Middle East.Producer prices rose 6.9% during the month, up from a rise of 4.1% in March, according to preliminary data from the Bank of Korea released Thursday.The reading is also the eighth straight month of increase, Yonhap News Agency reported separately the same day.Coal and petroleum producer prices surged 73.9% year-over-year during the month.The figure comes as the country remains vulnerable to the ongoing conflict in the Middle East as it is heavily reliant on crude oil imports from the region, according to a Fitch Ratings report released May 15.Chemical producer prices grew 15.6% year over year, faster than the 7.7% rise in the preceding month.Producer prices in the manufacturing sector jumped 11.3% year over year in April, higher than the 6.1% rise in March.Transportation producer prices inched up 3.2% in April, faster than the 1.7% increase recorded in March.Agricultural, forestry, and marine products saw a 1% growth during the period compared with a marginal 0.5% rise in the preceding month.Producer prices in the service sector increased 1.8%, led by a 26.2% growth in financial and insurance activities prices, the BoK said.On a monthly basis, producer prices grew 2.5%, led by a 4.4% jump in manufacturing producer prices and a 31.9% rise in coal and petroleum producer prices.The producer price index is among the indicators the central bank is closely watching, as they indicate future inflation trends and influence prices businesses charge consumers, Yonhap said.

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Asia

Korea Exchange Halts Kospi Trading for Five Minutes After Strong Buy

The Korea Exchange activated a five-minute buy-side sidecar on the country's primary stock market on Thursday morning amid frantic purchases as investors were optimistic over a resolution in the ongoing U.S.-Iran conflict.The Korea Exchange announced the order at 9:24 am after the KOSPI200 Futures added 56.78 points, or 5.04%, to trade at 1,182.74.A buy-side sidecar is activated when the KOSPI200 Futures index adds 5% or more for at least one minute.

KOSPI
Asia

South Korean Shares Open Higher on Potential US-Iran Deal, Samsung-Union Tentative Wage Deal

South Korean stocks opened sharply higher on Thursday, owing to gains made by technology stocks, amid growing optimism over a possible U.S.-Iran peace agreement and Samsung Electronics' (KRX:005930) tentative wage deal with its labor union.The benchmark Korea Composite Stock Price Index, or Kospi, rose 3.8%, or 277.42 points, to open at 7,486.37. The Kosdaq also increased 2.8%, or 29.23 points, to open at 1,085.30.U.S. President Donald Trump said Wednesday that Washington was ready to launch further attacks on Tehran if Iran failed to agree to a peace agreement, though he suggested the U.S. could wait a few days to "get the right answers."Trump described the situation as being "right on the borderline" and warned it could rapidly escalate. Six weeks after pausing Operation Epic Fury under a ceasefire, negotiations have made little progress, while increasing gasoline prices have weighed on Trump's approval ratings.Meanwhile, shares of Samsung Electronics gained more than 6% in Thursday morning trade after the labor union and management appeared to agree on a proposed wage agreement, which suspended plans for a strike scheduled to take place from May 21 to June 7.Under the proposal, Samsung Electronics will introduce a special performance bonus program for semiconductor employees tied to profitability. The 10-year scheme sets annual profit targets of 200 trillion won from 2026 to 2028 and 100 trillion won from 2029 to 2035.Union members will vote on the proposed 2026 wage agreement from May 23 through May 28.

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International

South Korea Producer Prices Jump 6.9% in April

Producer prices in South Korea increased 6.9% in April from a year earlier, accelerating from 4.1% in March and marking the strongest increase since October 2022, according to preliminary data from the Bank of Korea on Thursday.The year-on-year gains were driven by higher costs across all categories except electric power, gas, water and waste, which declined 1.2% in the month.Producer prices across agricultural, forestry & marine products, manufacturing, and services increased 1%, 11.3%, and 3.8%, respectively, the data showed.On a month-on-month basis, producer prices increased 2.5% in April, according to the data.

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