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Swiss Trade Surplus Climbs MoM in May

Switzerland's trade surplus rose to 5.64 billion francs in May from the revised 3.28 billion francs in April, according to data from the Federal Office for Customs and Border Security published Thursday.Following stagnation in the previous month, the surplus in May was the highest in 12 months.Seasonally adjusted exports jumped 13.4% month over month, while imports rebounded with a growth of 3.4%.

^SSMI

International55d ago

UK Claimant Count Jumps in May

Unemployment benefits claims in the UK rose by 31,216 in May, after a revised increase of 8,300 in April, data from the Office for National Statistics showed Thursday.The consensus estimate for the month pointed to a growth of 25,800.

FTSE 100

International55d ago

UK Average Earnings Including Bonuses Up 4.4% in Three Months to April

Britain's average weekly pay, including bonuses, increased 4.4% year over year in the quarter to April, consistent with the revised jump in the prior three-month period, the Office for National Statistics said Thursday.The latest reading is above the consensus estimate of a 4% growth.Excluding bonuses, the growth in average weekly earnings was 3.4%, unchanged from the prior reading and against the expected 3.2%.

FTSE 100

International55d ago

UK Unemployment Rate Falls to 4.9% in Quarter to April

Britain's unemployment rate stood at 4.9% in the three months to April, down from 5% in the quarter to March, according to data from the Office for National Statistics published Thursday.The consensus estimate for the period was 5%.Meanwhile, the UK employment rate was 60.7% during the quarter to April.

FTSE 100

International55d ago

Thailand, Taiwan to Deepen Advanced Chip Technology, AI Collaboration

The Federation of Thai Industries (FTI) has held talks with Taiwanese officials and innovation agencies to deepen cooperation in advanced chip technology and artificial intelligence, according to a Wednesday X post.The move aims to upgrade Thailand's smart medical industry and related manufacturing capabilities. The discussions focused on expanding business matching, technology transfer in semiconductors, and joint development of AI-driven healthcare systems and data infrastructure.The collaboration also targets workforce development to support high-skilled industries, with an emphasis on medical devices, automotive parts and electronics as Thailand seeks to strengthen its position in global supply chains, according to the social media post.

^SETTaiwan Weighted

International55d ago

Market Chatter: US, India 'Very Close' to Trade Agreement

President Donald Trump said the U.S. was "very close" to finalizing the proposed bilateral trade deal with India, Asian News International reported Thursday.The trade agreement was part of negotiations between Trump and Indian Prime Minister Narendra Modi on the sidelines of the G7 summit in France on Wednesday, the report said.U.S. Trade Representative Jamieson Greer will visit India next week to finalize the deal's framework, the report said, citing Indian commerce secretary Rajesh Agrawal's earlier statement.(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.)

^BSENifty 50

International55d ago

Australian Buyers Need AU$17,000 More Income to Service Median Mortgage Since January, Says Cotality

Australians intending to buy a median house in Brisbane must earn over AU$17,000 more in annual household income in May than they did in January just to service a typical mortgage, with Perth buyers facing a similar AU$16,500 income requirement spike over the same five-month period, according to a Thursday report by Cotality.The report said easing home values in Sydney and Melbourne have not improved affordability, as higher interest rates continue to increase borrowing costs and mortgage pressures. Meanwhile, rising prices in mid-sized cities are pushing entry costs to record highs.Brisbane's unit market has shifted sharply on the back of strong buyer demand, narrowing the gap in minimum income needed to purchase a median unit between Sydney and Brisbane to just over AU$2,000, the report added.Sydney home values dropped 0.9% in May and now sit 2.1% below their November 2025 high, while Melbourne values fell 0.8% for the month and remain 3.2% under their March 2022 peak, the report added.Perth recorded annual value growth of 25.8%, far outpacing Melbourne's 0.5%, widening the spread between the fastest and slowest growing capitals to 25 percentage points. New listings reached 33,914 over the four weeks to June 14, running 4.9% below the five-year average, with total listings at 129,010, up 1.7% on a year earlier, it added.

ASX 200

International55d ago

Hong Kong Leaves Base Rate Unchanged

The Hong Kong Monetary Authority kept its base rate unchanged at 4%, according to a statement released Thursday.The decision followed the U.S. Federal Reserve's move to keep interest rates unchanged.The authority said the outlook for U.S. interest rates remains uncertain and urged the public to carefully assess and manage interest-rate risks when making property purchases, investment decisions, or borrowing arrangements.

Hang Seng

International55d ago

New Zealand Job Ads Volume Grew for 18th Consecutive Month in May, Seek Says

The volume of job ads in New Zealand ticked 0.3% higher in May from April to post their 18th consecutive month of growth, according to a Thursday employment report by Seek.Job ads now stand at the highest volume in over two years, although they have not yet reached levels seen before the pandemic.Applications per job ad rose 0.6% month over month in April, increasing for the first time since mid-2025, according to the report.Meanwhile, job ads that reference artificial intelligence skills increased 3.9% in May from the previous month and now represent 3.3% of total job ads, the report said.Seek pointed to strong growth outside the main metropolitan areas, with West Coast, Southland, and Canterbury all posting notable monthly and annual gains, while the volume of ads in Auckland and Wellington fell slightly from the previous month but remain higher compared with a year earlier."The market and outlook remains tough and some sectors are clearly navigating within a conservative environment - but on balance, this is a job market that is moving in the right direction," said Rob Clark, Seek's country manager for New Zealand.

^NZ50

International55d ago

UK-India Free Trade Agreement to Take Effect from July 15

The Comprehensive Economic and Trade Agreement (CETA) between India and the United Kingdom, which was signed last year, will come into effect on July 15, according to official statements from both sides released on Wednesday.Under the pact, the UK will provide zero-duty access to 99% of Indian products, while India has agreed to remove or reduce tariffs on 90% tariff lines, which will cover 92% of existing goods imports from the UK.The deal is expected to boost the UK's gross domestic product by 4.8 billion pounds sterling, real wages by 2.2 billion pounds, and bilateral trade by 25.5 billion pounds sterling every year in the long run.The two parties worked out the contentious issue of steel exports. India has secured protection for the majority of its steel exports to the UK under the agreement, with 85% of outbound shipments kept outside Britain's upcoming steel safeguard measures.For Indian consumers, the deal will make whisky cheaper with tariffs cut from 150% to 40%, automobiles from 100% to 10% under a quota, and cosmetics will see tariffs of up to 22% eliminated either from day one or after 10 years.The British government said businesses had 28 days to register in order to get the benefit of tariff reductions.

^BSENifty 50

International55d ago

Australian Job Ads Fall 0.8% in May, Applications Per Ad Up 3.6%, Says Seek

Job ads in Australia in May fell 0.8% month on month and 4.5% year on year, while applications per job ad rose 3.6% month on month and are now 5.5% higher year on year, according to a Thursday report by Seek.The report said references to artificial intelligence-related skills in job ads continue to grow, up 2.9% month on month and about 69% year on year, with the decline in overall job ad volumes weighted toward occupations with high automation exposure, which comprise less than 10% of job ads on Seek.Tasmania was the only state to record job ad growth in May, up 0.8%, while Western Australia was the only state to record annual growth at 0.4%, with all other states and territories recording a decline.Applications per job ad rose across the board, with the largest increases in Victoria and Queensland, both up 6.8% quarter on quarter, the report added.Ad volumes rose in engineering and science and technology, both up 2% month on month, and hospitality and tourism and legal, both up 0.1%. Engineering ads were up 16% year on year and science and technology up 7%, alongside growth in construction, mining, resources and energy, and manufacturing, transport and logistics.

ASX 200

International55d ago

Advertised Salaries Record 0.3% Month-on-Month Rise in May

Advertised salaries in Australia recorded a 0.3% month-on-month increase in May, pointing to sluggish growth in recent months, according to the SEEK Advertised Salary Index released on Thursday.The slowdown might indicate a "more challenging" business environment, SEEK Chief Economist Blair Chapman said.Annual advertised salary growth was steady at 4.1% year on year in May, remaining relatively strong but below the pace recorded over 2022 and 2023, per the report.

ASX 200

International55d ago

New Zealand Economy Posts Solid Q1 Growth Amid Revisions, Westpac Says

New Zealand's economy grew 0.8% in the March quarter, with upward revisions to prior data strengthening the overall outlook despite a slightly softer quarterly reading than expected, according to a Thursday report by Westpac Banking (ASX:WBC, NZE:WBC).Westpac said the gain was driven by broad-based sector strength, with manufacturing, wholesale and retail trade, and professional services all posting solid increases, broadly in line with its expectations.The bank noted revisions were a key feature of the release, with December 2025 quarter gross domestic product (GDP) lifted to 0.5% from 0.2% on updated construction and agricultural data, while changes to seasonal adjustment factors reduced the usual March-quarter uplift.The bank said annual GDP growth came in at 1.5%, above its 1.2% forecast, with the upside largely reflecting statistical revisions rather than a meaningful improvement in economic momentum.The bank added that the result was broadly in line with Reserve Bank of New Zealand expectations, but the focus is likely to shift to recent developments, including fuel price swings, lower oil prices, and uncertainty over the durability of the peace agreement.

^NZ50ASX:WBCNZE:WBC

International55d ago

Market Chatter: Cathay Financial Raises Taiwan 2026 Growth Forecast to 10.1%

Cathay Financial Holding (TPE:2882) has raised its forecast for Taiwan's 2026 economic growth to 10.1% from its previous estimate of 5.8% issued in March, Taipei Times reported Thursday.The upgraded forecast reportedly reflects a stronger-than-expected surge in exports and investment.Cathay Financial also sees a 3.8% increase in consumer spending this year, above the government's estimate of 3.6%, the report said, citing Cathay Financial's economic research department Assistant Manager Achilles Chen.(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.)

Taiwan WeightedTPE:2882

International55d ago

New Zealand's Small Business Productivity Lags Behind Peers, Xero Report Finds

Productivity for small and medium-sized businesses in New Zealand is lagging behind Australia and the UK, but the sector has meaningful opportunities to bridge the gap over time, according to data published by Xero (ASX:XRO) on Thursday.The data measured the dollar amount produced per hour worked for a typical worker in a small business, finding that New Zealand's small business labor productivity averaged NZ$74 per hour worked in the March quarter, down from NZ$75.30 in the December 2025 quarter.The March quarter reading is broadly in line with the previous six months but remains below the long-term average of NZ$76.30 per hour, underscoring a continued period of subdued productivity growth, Xero said.Productivity per employee has also softened, averaging roughly NZ$9,169 in the March quarter, down from NZ$9,389 in the previous quarter."The encouraging part is that there are clear levers - from digital adoption to skills and process improvements - that can help close that gap over time," said Bridget Snelling, New Zealand country manager at Xero."Policy settings that support skills development, infrastructure and digital adoption play a key role in lifting productivity across the economy, while targeted attention in lower-performing sectors such as hospitality could help unlock further gains," Snelling added.

^NZ50ASX:XRO

International55d ago

Nearly Half of Japanese Firms See Months-Long Road to Recovery Even After US-Iran War, Reuters Poll Shows

Nearly half of Japanese companies expect their business operations to take more than six months to normalize even after a U.S.-Iran ceasefire, a Reuters survey showed.The poll, carried out between June 3 and 12, drew responses from 215 of 490 companies contacted, Reuters said.Among the respondents, 31% expect a half-year recovery, 39% anticipate up to a year, and 8% brace for as long as three years, while only 17% believed three months would suffice, Reuters said.Japan's exposure to the conflict is acute - the country sourced 94% of its crude oil from the Middle East last year, with the vast majority of shipments transiting the Strait of Hormuz, said the news wire.One wholesale manager cautioned that minesweeping operations alone would delay the resumption of normal crude procurement, highlighting the logistical hurdles that lie ahead even after a formal deal is struck, according to Reuters.While the memorandum of understanding is set to be signed in Switzerland, corporate anxieties over supply chain disruptions, elevated energy costs, and shipping risks are expected to linger well beyond any official ceasefire declaration, Reuters said.

Nikkei 225

International55d ago

Q1 GDP Data Shows New Zealand Economy was Improving before Middle East Conflict, ANZ Says

New Zealand's first-quarter gross domestic product (GDP) data showed that the economy was on an improving path until the conflict in the Middle East broke out, ANZ Research said in a note on Thursday.The New Zealand economy expanded 0.8% on a quarterly basis in the March quarter, slightly below ANZ's and the New Zealand central bank's forecasts of 1% growth.High-frequency indicators suggest the economy stalled after the conflict broke out, but if oil prices stay down, there are good odds of the recovery resuming.Upward revisions over the past year show moderate growth from the middle of last year, with fourth-quarter GDP expansion revised up to 0.5% from 0.2% quarter on quarter. These revisions mean that annual growth was 1.5%, beating ANZ's forecast of 1.3% and the Reserve Bank of New Zealand's forecast of 1.2%.

^NZ50

International55d ago

Market Chatter: Most BOJ Watchers See Another Rate Hike Before Year-End, Bloomberg Survey Shows

Nine in ten economists surveyed expect the Bank of Japan to raise interest rates again before year-end, building on Tuesday's increase that pushed borrowing costs to their highest since 1995, Bloomberg News reported on Thursday, citing its own survey.A poll of 44 economists found December to be the most favored timing, chosen by 52% of the respondents, while 36% pointed to October, the report said.Nearly a quarter identified September as the earliest the next move could come, Bloomberg said.The BOJ lifted rates for the first time since December this week, flagging risks that underlying inflation could overshoot its 2% target.(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.)

Nikkei 225

International55d ago

Thailand's Industrial Sentiment Index Drops to 84.7 in May

Thailand's industrial sentiment index declined to 84.7 in May from 85.3 in April, the Federation of Thai Industries said on Wednesday.Sentiment was weighed down by the continued slowdown in the manufacturing sector, as well as labor shortages, and the risks arising from the war in the Middle East.The body said some industry groups have yet to benefit from growth in exports and foreign direct investment.Rising imports of consumer goods, particularly cosmetics, jewelry, and furniture, combined with inflation from higher production costs also weigh on consumer purchasing power and squeeze operator profit margins, the federation said.

^SET

International55d ago

Economists Trim Singapore 2026 Growth Forecast to 3.5%, MAS Survey Shows

Economists have slightly lowered their median forecast for Singapore's 2026 GDP growth to 3.5% from the 3.6% projected in March, according to the June Survey of Professional Forecasters by the Monetary Authority of Singapore.While the economy expanded a stronger-than-expected 6% year over year in the first quarter, forecasters expect growth to moderate to 4.3% in the second quarter.Meanwhile, inflation projections were upgraded, with headline CPI inflation for the full year now estimated at 2.3% from the previous 1.5% forecast, while the outlook for MAS core inflation was also lifted to 2% from 1.5%.They cited the escalating geopolitical tensions in the Middle East and the potential bursting of the artificial intelligence bubble or a slowdown in capital spending as the main downside risks to the outlook.

^STI

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