China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
German Bund Yields Hit Three-Week Low as Energy Prices Ease and ECB Outlook Softens 
Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data 
US Job Growth Seen Picking Up in July 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
A de-escalation of US-Iran tensions is expected to spark risk appetite broadly and boost EM Asian currencies particularly the INR and KRW in the weeks ahead, according to the latest research report from Scotiabank.
South Korea’s exports of semiconductors declined at a slower pace in December, while Taiwan’s imports of semiconductor equipment have surged for two consecutive months. Earlier in November 2019, ASML CEO Peter Wennink said at a conference in Barcelona that he sees a strong demand from logic chip makers in the year of 2020.
ASML Holding NV is a leading semiconductor chip equipment manufacturer. South Korea’s semiconductor exports shrank 17.7 percent y/y in December after contracting 30.8 percent y/y the previous month. In terms of volume, the nation’s December overseas shipments of semiconductors rose 7.9 percent from the same period last year.
Taiwan’s imports of semiconductor equipment surged 156.4 percent y/y and 158.6 percent respectively in November and December, according to the official data. In addition, South Korea and Taiwan’s exports to Mainland China have been stabilizing and improving in the past months, along with their growing factory activity.
"We see early signs of global trade recovery that are supportive of export-driven currencies such as the KRW and TWD amid the Fed’s dovish stance and easing US-China trade tensions. Meanwhile, the THB’s persistent strength has raised the regulators’ concerns. We maintain our existing short USD and short THB positions against the KRW and TWD," Scotiabank further commented in the report.
US President Donald Trump on Wednesday signalled that the US would not respond militarily to Iran’s attacks on American forces in Iraq. Instead, he said the US would move ahead with "punishing economic sanctions."
