Missed It While Watching TSMC... Chinese Foundry Rises to 3rd Place [3-Minute Brief]

Published 14 Jun.2024 08:00(KST)

Updated 19 Jan.2025 11:01(KST)

[3-Min Brief 3-Second Summary]
① US to cut interest rates once this year, South Korea likely once too
② Central Asia-Korea 'Love Call' for cooperation on minerals and nuclear power
③ Government deficit 64 trillion won from Jan-Apr... April marks record high

MARKET INDEX

Missed It While Watching TSMC... Chinese Foundry Rises to 3rd Place [3-Minute Brief]

- S&P500 and Nasdaq indices hit record highs for 4 consecutive trading days

- Producer Price Index falls following May Consumer Price Index decline

- Inflation easing signals boost expectations for interest rate cuts

Top3 NEWS

■ US expects only one interest rate cut this year; South Korea likely to cut once as well

- Fed's forecast for rate cuts this year revised from 3 to 1
- If US cuts rates around September, South Korea expected to follow in October or November
- Lee Chang-yong, Governor: "Premature rate cuts could incur greater policy costs"

■ 35 MOUs on 'Critical Minerals Cooperation' including nuclear power... Central Asia leaders send 'love calls' to Korea

- Economic cooperation achievements at Korea-Kazakhstan summit
- Momentum growing for entry into power energy and plant sectors
- Easier for Korean companies to enter Central Asian markets

■ National budget deficit of 64 trillion won from January to April... largest ever for April

- Managed fiscal balance deficit surpasses 64 trillion won
- Continued impact from poor performance of large corporations
- Rapid budget execution also affects fiscal status

Graphic News: "Seoul housing prices not in recovery phase but temporary rise"

- Using 'recovery' is premature... closer to a 'temporary rise'
- Trading volume increased but still below past average levels
- Some say "hard to expect a major upward trend like before"

the Chart: Q1 TSMC-Samsung gap widens... China’s SMIC jumps to 3rd place

- TrendForce announces Q1 foundry market share

- Gap between TSMC and Samsung Electronics market share is 50.7 percentage points

- China’s SMIC leaps two ranks to become 3rd

Term in the News: US’s ‘GAA’ emerges as key card in semiconductor sanctions against China

- US government considering GAA as an additional sanction measure
- Next-generation technology in semiconductor transistor architecture
- Samsung first adopted it two years ago... TSMC and Intel have announced plans

Today's Key Schedule

○ Domestic

- 06:00 May Export Price Index

- 06:00 May Import Price Index

- 11:00 Thomson Reuters June IPSOS PCSI

- 12:00 South Korea April M2, M3 Money Supply

- 14th KOSDAQ Gridwiz listing, IPO price 40,000 won

- 14th KOSDAQ SOS Lab subscription, IPO price 11,500 won

- 14th KOSDAQ Mirae Asset Vision SPAC 6 subscription, IPO price 2,000 won

- 14th KOSDAQ Shinhan Global Active REITs subscription, IPO price 3,000 won

○ Overseas
- 01:00 US Treasury Secretary Yellen speech

- 07:30 New Zealand May Business Purchasing Managers Index

- 11:30 Japan Monetary Policy Statement

- 12:00 Japan Interest Rate Decision

- 15:30 India May Wholesale Price Index

- 18:00 Eurozone April Trade Balance

- 21:30 US May Export Price Index

- 23:00 US June University of Michigan Inflation Expectations

◇ Lunch & Commute Weather

○ Low temperature 21℃(▲1℃) ｜ High temperature: 33℃(▲1℃)
○ Precipitation probability Morning 0%｜Afternoon 0%
○ Fine dust Morning Good｜Afternoon Moderate

OK in 3 minutes, essential time-efficient economic news. Published daily at 8 AM.