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South Korea Logs Second Straight Month of Over $20 Billion Trade Surplus

South Korea recorded a trade surplus of $23.8 billion in April, which was the second straight month of more than $20 billion in trade surplus for the first time, the Ministry of Trade, Industry and Energy said in a Friday release.Exports in the month increased 48% to $85.9 billion from the year-ago period, while imports rose 16.7% to $62.1 billion, the release said.Eight of the top 15 export categories recorded growth in the month, with outbound shipments led by semiconductors, petrochemicals, and petroleum products, while other sectors, including computers, ships, wireless communication devices, display panels, and steel, also recorded higher exports, according to the trade ministry.Semiconductor exports gained 173.5% to $31.9 billion, while automobile exports declined 5.5% to $6.17 billion from April 2025, the release said.

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Australia's Index of Commodity Prices Falls 0.5% in April

The Australian Index of Commodity Prices declined 0.5% in April when measured in special drawing rights terms on a monthly average basis, after a 3.5% increase in March, the Reserve Bank of Australia reported Friday.The non-rural and rural subindices fell in the month, while the base metals subindex increased.In Australian dollar terms, the index was down by 0.8% in the month and increased by 4.6% over the past year, per the report.The index soared 15.7% in special drawing rights terms when compared with the previous year. Higher rural commodity prices and base metal prices more than offset falls in the prices of liquefied natural gas and alumina.Using spot prices for the bulk commodities index, the index slid by 0.6% in special drawing rights terms in April, but is still 16.9% higher over the past year.

Swiss Monthly Retail Sales Up 0.1% in March

Retail sales in Switzerland rose 0.1% month over month in real terms in March, after a revised 0.1% decrease in February, the country's Federal Statistical Office said Friday.On a yearly basis, seasonally adjusted retail sales were 0.5% higher, compared with the revised 0.4% gain earlier and the consensus estimate of a 1% growth.

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New Zealand's Building Sector Sees Rising Headwinds Despite Lift in Planned Building Work, Says Westpac

Westpac said that while the amount of planned building work has lifted, headwinds in New Zealand's building sector are mounting, according to a Friday report by the bank.The bank said the Middle East conflict has resulted in a sharp rise in fuel costs and related increases in materials costs in the construction sector, with some increases described as substantial, while uncertainty and upward pressure on borrowing costs have also risen as inflation pressures have increased.Westpac said developers are likely to be cautious about initiating new projects given sluggish price growth and the broader headwinds, with the recent uplift in activity potentially giving way to renewed softness later in the year. However, a lift in consent numbers over the past year is expected to see building activity trend higher over the next few months.

New Zealand Consumer Credit Demand Softened in Recent Weeks But Remains Higher Year Over Year, Centrix Says

Consumer credit demand in New Zealand softened in recent weeks with enquiry volumes easing, but it remained up 1.3% year over year, Centrix said in a new report.Mortgage enquiries are up more than 11%, auto loan demand is up over 8%, and personal loan enquiries ticked nearly 8% higher. But on the flip side, credit card demand is down past 17%, and retail energy enquiries have fallen more than 28%.Consumer arrears declined again in March to hit the lowest level since September 2023, although the picture is not uniformly positive as there are still 95,000 consumers who are past 90 days overdue on payments, according to the report.In terms of sectors, agriculture continues to perform well, but there is weakness across the services economy, and hospitality also remains vulnerable, Centrix said.The firm noted that there is a broad expectation among economists and business leaders that the full impact of higher fuel prices has not yet filtered through to credit indicators.

Nationwide: UK Annual House Price Growth Rises to 3% in April

The annual growth rate of house prices in the UK increased to 3% in April from 2.2% in March, according to data from the Nationwide Building Society published Friday.The consensus estimate for the month was a 2.2% jump in housing prices.The average price of houses was 278,880 pounds sterling, up from 277,186 pounds a month ago.On a monthly basis, seasonally adjusted house prices were 0.4% higher, against the 0.9% gain earlier and the expected 0.3% decrease.

FTSE 100

New Zealand Property Listings See 7.3% Annual Rise in April

New Zealand total new property listings rose 7.3% year-on-year to 9,139 in April, while the national average asking price rose 2.2% to NZ$869,023 and total stock increased 3.9% to 37,334, according to data published by realestate.co.nz on Friday.The report said 7,853 properties sold in March, the highest total since November 2021, with Canterbury and Southland both recording all-time average asking price highs.Canterbury's average asking price reached NZ$735,798, up 3.8% on April last year and surpassing the region's previous high of NZ$735,383 set in March 2022, while Southland recorded an average asking price of NZ$617,879, up 17.9% year-on-year and the first time the region reached the NZ$600,000 bracket, the data added.Auckland led new listings growth with a 23.1% rise to 3,422, followed by Bay of Plenty up 10.6% to 617 and Otago up 10.3% to 321, while Marlborough was the only region to record a double-digit decline in average asking price, down 10.1% to NZ$707,013, the data added.Three regions recorded double-digit declines in new listings, with Central North Island down 15.1%, Northland down 14%, and Southland down 10.6% year-on-year, the report showed.

Japan Factory Activity Surges to Four-Year High

Japan's manufacturing activity expanded at the fastest pace in over four years in April, as output and new orders surged, according to S&P Global data.The headline manufacturing purchasing managers' index rose to 55.1 in April from 51.6 in March, marking the strongest reading since January 2022 and signaling solid growth in business conditions.Factory output increased at the quickest rate since February 2014, supported by stronger demand and inventory-building amid uncertainty linked to the Middle East conflict. New orders grew at the fastest pace since January 2022, with firms citing higher client demand and increased interest in AI-related products.Supply chain conditions deteriorated sharply, with supplier delivery times lengthening at the steepest rate in 15 years, while input cost inflation accelerated to a three-and-a-half-year high, driven by higher raw material, oil and transport costs.Manufacturers raised selling prices at a faster pace to offset rising costs, while employment growth picked up to one of the strongest levels since early 2022.Despite the strong data, business confidence weakened, with firms citing uncertainty over global demand and supply disruptions.

Nikkei 225

Market Chatter: Economists Expect Australia's Central Bank to Raise Cash Rate by 25 Basis Points in May, Reuters Poll Suggests

The Reserve Bank of Australia is expected to increase its cash rate to 4.35% at its May 5 policy meeting, which would mark the third consecutive hike of 25 basis points, according to a Reuters poll of economists published Friday.More than a third of the economists surveyed now expect the rate to hit at least 4.6% within the year, compared with none in a survey conducted in March, Reuters reported.The central bank started raising borrowing costs in early February after inflation stayed above its 2% to 3% target range since the middle of 2025.If it increases the rate again on May 5, the move would fully reverse rate cuts made last year, according to the report.(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.)

China Logistics Sector Expands 6% in Q1

The value of China's logistics sector grew 6.2% year over year to 96.4 trillion yuan in the first quarter, he China Federation of Logistics and Purchasing said Thursday.The sector's growth rate increased by 1.1 percentage points from the full-year level in 2025, and up 0.5 percentage points from the year-ago period, the group said.Industrial goods logistics value rose 5.8% year over year, 0.5 percentage points higher compared with the prior-year period.Online retail sales jumped 7.5% year over year, equivalent to 24.8% of total retail sales of consumer goods, the federation said.

Shanghai Composite^SZSE

Australia's Producer Prices Rise in March Quarter

Australia's producer prices, excluding exports, increased 0.4% in the March quarter, following a 0.8% rise in the December 2025 quarter, according to data from the Australian Bureau of Statistics published Friday.The main drivers of quarterly growth were property operators, up 1% amid strong demand and rising residential rents; petroleum refining and petroleum fuel manufacturing, up over 10% due to higher oil prices; and tertiary education services, which rose 2.2% due to annual fee adjustments, the report said.Selected producer price indexes rose across key sectors, including a 2.1% increase in manufacturing driven by non-ferrous metals, a 1% rise in construction driven by house building, and an increase in education and training services due to higher export fees in higher education.On an annual basis, final demand growth rose 3% in the year to the March quarter, down from a 3.7% increase a year earlier.

Japan Consumer Confidence Slips in April

Japan's consumer confidence weakened in April, while expectations for higher prices edged up, according to government survey data released Friday.The seasonally adjusted consumer confidence index fell 1.1 points from the previous month to 32.2. The survey, conducted on April 15, covered 8,400 households and had a response rate of 75.5%.Among key components, the index for overall livelihood dropped 1.5 points to 28.2, while willingness to buy durable goods fell 2.8 points to 23.2. The employment outlook slipped 0.2 points to 37.4, and income growth expectations were unchanged at 39.8.Price expectations strengthened, with 93.6% of respondents expecting prices to rise over the next year, up 0.5 percentage points from the previous month.Those expecting prices to remain unchanged accounted for 2.3%, down 0.4 points, while the share expecting prices to fall was also 2.3%, down 0.2 points.

Nikkei 225

New Zealand's Seasonally Adjusted New Dwelling Consents Fall in March

New Zealand's seasonally adjusted new dwellings consents fell 1.3% to 3,370 in March from 3,412 in the previous month, according to Stats NZ data on Friday.In actual terms, 3,677 new dwellings were consented, including 1,729 stand-alone houses, 1,556 townhouses, flats, and units, 127 retirement village units, and 265 apartments.New dwellings consented in the reported month rose 8.2% in actual terms compared with 3,398 in March 2025.In the 12 months ended March, the actual number of new dwellings consented was up 11% to 37,813 compared with the prior corresponding period."New home consents increased in the year ended March, following decreases in each of the previous three years," economic indicators spokesperson Michelle Feyen said.The regions with the highest increase in new home consents in the year ended March were Auckland, up 14%, Waikato, up 3.5%, and Wellington, up 3.8%.The annual value of non-residential building work consented in March rose 1.2% year-on-year to NZ$9 billion.

Tokyo Core Inflation Eases, Extends Run Below BOJ Target

Tokyo core consumer prices rose 1.5% in April from a year earlier, slowing from 1.7% in March and marking a third straight month below the Bank of Japan's 2% target, government data showed Friday.The increase in the core consumer price index, which excludes fresh food, was below the median market forecast of 1.8% and the slowest since March 2022. It is also the fifth consecutive month of deceleration, the longest such stretch since 2009.A separate index that strips out both fresh food and energy rose 1.9% in April, softer than the 2.3% reading in March. Overall consumer prices increased 1.5% during the month in review.

Nikkei 225

Australia's Manufacturing Sector Returns to Growth in April Despite Supply-Chain Disruptions

Australia's manufacturing sector returned to expansion in April, though the improvement was outweighed by major supply-chain disruptions and a sharp rise in costs linked to fuel and freight pressures arising from the Middle East conflict, according to a survey by S&P Global published Friday.The headline seasonally adjusted S&P Global Australia Manufacturing Purchasing Manager's Index (PMI) rose to 51.3 in April from 49.8 in March, above the 50-point mark separating contraction and expansion.The headline PMI was mainly driven by longer supplier delivery times and higher stocks of purchases, while new orders, output, and employment remained in negative territory.The supply chain disruption in April was largely driven by the Middle East conflict and international freight delays, with fuel shortages and rising fuel costs pushing input prices higher and resulting in the fastest inflation since March 2022, according to the report.Rising input costs and war-related uncertainty pushed output price inflation to a decade high and led to a third straight monthly decline in manufacturing production.New orders kept falling, driven partly by weaker foreign demand, while manufacturers still raised purchasing activity and input stocks in April, likely to build safety buffers against future price increases and supply-chain delays despite lower output needs, per the report.Employment declined for the second consecutive month due to weaker new orders, with firms not replacing departing staff and cutting working hours, while backlogs of work and finished goods inventories also continued to decrease.Business confidence fell for a third straight month to its lowest since July 2024 amid the Middle East conflict, inflation, and cost-of-living pressures, though hopes of post-conflict demand recovery supported year-ahead production optimism, the report added.

Australia's April Home Value Index Posts Slowest Pace of Growth Since January 2025, Cotality Says

Australia's home value index edged 0.3% higher in April, registering its slowest pace of growth since January 2025 amid declines in Sydney and Melbourne, according to figures from Cotality released Friday.All capital cities in Australia recorded a deceleration in growth during April, with home values declining 0.6% in Sydney and Melbourne. Sydney values are now 1% below their November 2025 peak, while Melbourne values are 2.3% below a high seen in March 2022.Brisbane, Adelaide, and Darwin also saw a slowdown in growth, although values still rose by more than 1% month over month in each city.Softer housing conditions came alongside a slowdown in buyer demand, and an imbalance between demand and supply is also evident in auction clearance rates, which have stayed below 55% since the last week of March."The housing market was losing momentum from late last year as affordability and serviceability constraints weighed on demand," said Cotality Research Director Tim Lawless. "Now we have the additional downside pressure of higher interest rates, sentiment has fallen off a cliff, and rising inflation is set to drive the cost of debt even higher."

New Zealand Home Values Extend Third Monthly Upward Streak in April, Says Cotality

Property values across New Zealand extended a third consecutive monthly rise in April, in a slight surprise, edging up 0.1%, despite a soft start to the year for sales volumes and the Middle East conflict weighing on global economies, property valuation firm Cotality said Friday.According to the Cotality NZ's latest Home Value Index, the national median value of $809,101 in April notched up 0.6% from January but remained nearly 17% below the peak seen in 2022.Growth remains uneven across the country, with major cities Auckland and Wellington still witnessing minor declines of 0.1%. In contrast, house prices in Dunedin and Hamilton rose 0.8% and 0.3%, respectively."The bottom line is that the housing market broadly remains in a holding pattern, with buyers enjoying current conditions - or at least those that are secure in their jobs," said ‍Kelvin Davidson, Cotality NZ Chief Property Economist.The central bank is watching closely for any signs of second-round price effects from the Middle East conflict, particularly in wage demands or raised inflation expectations, amid a growing view that it may raise the Official Cash Rate as soon as July.Nevertheless, it would not be a surprise for mortgage rates to gradually rise, with modest house price increases flattening or even reversing, Davidson added.

New Zealand Consumer Confidence Nears Three-Year Low as Oil Shock Weighs, Says ANZ Research

Consumer confidence in New Zealand fell to its lowest read in roughly three years in April, as a looming oil shock raised concerns about the broader economic outlook and downside risk for retailers, ANZ Research said Friday.The ANZ-Roy Morgan Consumer Confidence Index declined 11 points to 80.3 in April from 91.3 in March. The index has also dropped 20 points over the past two months since the Middle East conflict began and pushed up global fuel prices.Expectations for inflation rose by about another full percentage point to 6.6%. The net proportion of households considering it "a good time to buy a major household item" slid 11 points to negative 25, the lowest since September 2024.The firm said it is too soon for the oil shock to have had a meaningful impact on household incomes, and that the decline instead reflects rising cost of living, with a growing wariness among retailers about the future activity levels.However, consumer confidence, now at levels seen in 2022 and 2023, is "clearly hurting" as higher petrol prices dent weekly budgets.While consumer inflation expectations are not the central bank's main focus, as they don't directly influence price setting, the gap between consumer inflation expectations of 6.6% and firms' wage expectations of 2.5% is widening, it added.