증시 대담
It's time now for an in-depth look at the global markets this afternoon.
And for that, I'm joined on the line by Mr. Daniel Yoo, Global Strategist at Yuanta Securities.
Mr. Yoo, thank you for coming on today.
Thank you.
Wall Street was closed on Monday for Labor Day. But European stocks did rise, especially the FTSE. Here in Korea, the Kospi was up and down. How's it looking today?
US market was closed on Monday
European market was up slightly even though us and china tariff increase actually occurred recently.
Latest numbers from Europe were showing some stability of economic growth as jobless rate holds steady at 11 year low, and eurozone august inflation rate remained stable.
Asian market in general are showing moderate movement on both side.
Japan up very slightly by 0.02%, while China showing slight rise as well, after sharp rise yesterday. (1.3% up for Shanghai, 2.2% up for Shenzhen)
More than expected Caixin manufacturing PMI 50.4, showing expansion. Clearly, despite all the worries of US China Trade War, China seems to be handling the problem well.
Korean market showed subdued movement. GDP growth for 2Q 2%, rising slightly from 1.7% previous quarter. slightly lower than 2.1% expectation.
Consumer price flat.
The U.S.-China trade war has escalated again with the new tariffs that took effect over the weekend. This will no doubt have an effect on Korea's economy. What might those effects be?
China and the United States have begun imposing additional tariffs on each other’s goods in the latest escalation of their bruising trade war that has sent shockwaves through the global economy.
A new round of tariffs took effect from 0401 GMT on Sunday, with Beijing’s levy of 5% on US crude oil marking the first time the fuel has been targeted since the world’s two largest economies started their trade war more than a year ago.
The Trump administration will begin collecting 15% tariffs on more than $125bn in Chinese imports, including smart speakers, Bluetooth headphones and many types of footwear.
In retaliation, China started to impose additional tariffs on some of the US goods on a $75bn target list. Beijing did not specify the value of the goods that face higher tariffs from Sunday.
The extra tariffs of 5% and 10% were levied on 1,717 items of a total of 5,078 products originating from the United States. Beijing will start collecting additional tariffs on the rest from 15 December.
The majority of the duties will take effect Dec. 15, and China’s plans to reinstate tariffs on U.S. autos and auto parts will also not take place until that time.
These tariff increases put pressure on inflation. US will suffer at lease 0.5% rise in price due to the tariff. Economic growth will suffer.
However, with lower interest rate environment, it can be compensated if rates lowered by more than that of price rise.
Impact on Korea is such that it loses market share in both countries. China trying to boost its own, as well as US. So ground for Korean comp
