South Korean Bourse Wants to Add More Weekly Index Options
The Korea Stock Exchange plans to introduce weekly options expiring every weekday on the benchmark Kospi 200 Index as well as weeklies with Monday and Thursday expiries for the Kosdaq 150 Index of small-cap companies, according to people familiar with the matter, who asked not to be identified discussing private information. It also intends to offer dividend futures tied to the Kospi 200, the people said.
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EU, South Korea seek US trade deals to soften tariff blow
By Philip Blenkinsop and Hyunjoo Jin BRUSSELS/SEOUL (Reuters) -The European Union and South Korea said on Monday they were working on trade deals with U.S. President Donald Trump that would soften the blow from looming tariffs as Washington threatens to impose hefty duties from August 1. Trump stepped up his trade war on Saturday, saying he would impose a 30% tariff on most imports from the EU and Mexico from next month, adding to similar warnings for other countries including Asian economic powerhouses Japan and South Korea. White House Economic Adviser Kevin Hassett said on Sunday that countries' trade deal offers so far have not satisfied Trump and "the tariffs are real" without improvements to their proposals. "The president thinks that deals need to be better," Hassett told ABC's This Week program. "And to basically put a line in the sand, he sent these letters out to folks, and we'll see how it works out." European Trade Commissioner Maros Sefcovic expressed optimism that Washington and the EU were approaching a positive outcome for both sides. He warned, however, that a 30% tariff would practically eliminate trade between the U.S. and the 27-nation bloc, which are currently each other's largest trading partners. "We continue to engage with the U.S. administration and prioritise a negotiated solution by the new deadline of August 1. I cannot imagine walking away without any effort," Sefcovic said ahead a meeting with EU trade ministers in Brussels. German Chancellor Friedrich Merz, meanwhile, issued a stark warning on Sunday regarding the impact of a tariff at that level on the EU's largest economy. "If that were to happen, we would have to postpone large parts of our economic policy efforts, because it would interfere with everything and hit the German export industry to the core," Merz said. The EU has so far held off on retaliatory measures to avoid a spiralling tit-for-tat escalation in the trade war while there remains a chance of negotiating an improved outcome. But Italy's Foreign Minister Antonio Tajani said the EU has already prepared a list of tariffs worth 21 billion euros ($24.5 billion) on U.S. goods if the two sides fail to reach a trade deal. MARKETS' MUTED REACTION Since returning to the White House earlier this year, Trump has sought to use an array of tariffs to boost the U.S. economy, push companies to invest in the United States, and revitalise sectors including manufacturing. His initial "Liberation Day" tariff announcement in April, which set a baseline tariff of 10% on all imports and higher duties on certain products or countries, raised fears of global supply chain disruptions, sending shockwaves through markets. But subsequent U-turns and delays, including a 90-day pause on most duties aimed at allowing time for trade deal negotiations, have left investors largely inured to Trump's chaotic policy roll-outs. Stocks eased moderately on Monday, while the dollar gained little on the euro. The impact on European spirits companies, many of which rely heavily on the U.S. market, was also mixed. Shares in Diageo, whose U.S. business is driven by sales of Canadian whisky and Mexican tequila, rose 1% in early European trade. Rival Pernod Ricard, maker of Jameson Irish whiskey, saw its shares fall 1%, while cognac maker Remy Cointreau dropped 2.4% SCRAMBLE FOR DEALS The looming August 1 deadline has set off a scramble by governments around the world to seal trade agreements. South Korea's top trade envoy said on Monday it may be possible to strike an "in-principle" deal by the deadline and signalled that Seoul may be open to allowing the U.S. greater access to its agriculture markets, local media reported. Minister for Trade Yeo Han-koo, who held high-level talks with U.S. officials last week, said South Korea was seeking to avoid "unfair" U.S. tariffs on sectors key to its industrial prowess that would undermine industrial cooperation with its main security ally and trading partner, media reports said. "I believe it's possible to reach an agreement in principle in the U.S. tariff negotiations, and then take some time to negotiate further," the Newsis news agency quoted Yeo as telling local media reporters. "Twenty days are not enough to come up with a perfect treaty that contains every detail," he added. South Korea is in a race to reach a compromise trade pact in the hope of avoiding a 25% tariff slapped on its exports, the same level faced by Japan. (Additional reporting by Milan Strahm, Cristina Carlevaro, David Lawder, John Revill, Andreas Rinke, Wayne Cole and Emma RumneyWriting by Keith WeirEditing by Joe Bavier) Sign in to access your portfolio
Yahoo
20 minutes ago
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Indian investors flock to silver as returns overtake those from gold
By Rajendra Jadhav MUMBAI (Reuters) -Indian investors, traditionally obsessed with stockpiling gold, are increasingly turning to silver, which was trading near a 14-year high on Monday, as its returns this year outpaced those of gold. Imports fill most of the demand in the world's largest consumer of silver, where domestic prices touched a record high of 114,875 rupees ($1,336) a kg as a production shortfall spurred investors' hopes for a further rally. "Gold's done pretty well for me over the last couple of years," said Umesh Agarwal, a regular buyer of gold coins, who recently made his first purchase of a one-kilogram bar of silver. "Now I'm hoping silver follows the same path and gives similar returns." Domestic prices of silver have risen 21% in the past three months, outstripping a rise of 5% in gold, as opposed to the scenario of the past year, when gold prices surged 34%, compared to a rise of 23% in silver. The appetite for silver is driven both by investment and industry needs in areas such as solar energy and electric vehicles, outpacing production, said Chirag Thakkar, chief executive of Amrapali Group Gujarat, a leading silver importer. "Usually, investors cash in when prices hit record highs, offloading coins and bars or pulling out of exchange-traded funds (ETFs)," he added. "However, this time, even at record highs, people are investing, rather than selling." Silver ETFs attracted inflows of a record 20.04 billion rupees in June, up from 8.53 billion in May, data from the Association of Mutual Funds in India showed. In the June quarter, silver ETFs attracted inflows of 39.25 billion rupees, far outpacing the 23.67 billion flowing into gold ETFs. Such ETFs offer investors a convenient way to gain exposure to silver, which is heavy and costly to store and transport, said Vikram Dhawan, head of commodities and fund manager at Nippon India Mutual Fund, which manages metal ETFs. Volatility in equity markets following U.S. President Donald Trump's tariffs has also pushed investors to diversify, said a Mumbai-based bullion dealer with a silver importing bank. Traditionally the choice of budget-conscious rural consumers, silver is increasingly attracting urban buyers as an investment, the dealer added. Indian retail investment demand rose 7% in the first half of 2025 on the year, fuelled by expectations of a price rally, the Silver Institute said this month. Silver imports jumped 431% in May on the year to 544.1 tons, while gold imports fell 25% to 30.5 tons, trade ministry data showed. ($1=85.9780 Indian rupees) Sign in to access your portfolio
Yahoo
38 minutes ago
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Chinese vehicle sales rise 14% in June
Sales of Chinese-made vehicles, including exports, rose by 14% to 2.904 million units in June 2025, up from 2.551 million units a year earlier, according to passenger car and commercial vehicle wholesale data compiled by the China Association of Automobile Manufacturers (CAAM). Domestic sales rose by just over 10% to 2.312 million units last month, while exports increased by 22% to 592,000 units. The Chinese government has stepped up its stimulus measures this year to boost domestic vehicles sales, including increasing vehicle trade-in and scrappage incentives which favour mainly new energy vehicle (NEV) sales. The country's vehicle market has also responded to strong price competition among domestic manufacturers and numerous new model launches. In the first six months of 2025, total sales of China-made vehicles increased by over 11% to 15,653 million units, up from 14.054 million a year earlier, including a 12% rise in domestic sales to 12.570 million units while exports rose by over 10% to 3.083 million units. Overall sales of passenger vehicles increased by 14% to 13.531 million units, while commercial vehicle sales rose by 2.6% to 2.122 million units. First-half sales of new energy vehicles (NEVs) rose by 40% to 6.937 million units, accounting for over 44% of total vehicle sales in the country. Battery electric vehicle (BEV) sales surged by 48% to 4.443 million units while plug-in hybrid vehicle (PHEV) sales rose by 25% to 2.491 million units. Domestic NEV sales rose by 34% to 5.878 million units year-to-date, while exports jumped by 75% to 1.059 million units. Overall vehicle production in the country rose by almost 13% to 15.621 million units in the first half of 2025, compared with 13.880 million in the same period last year. Manufacturer performances BYD's global sales rose by 33% to 2,145,954 units in the first six months of 2025, including a 128% surge in overseas sales to 464,266 units. Overall sales of passenger PHEVs surged by 24% to 1,089,890 units, while passenger BEV sales rose by 41% to 1,023,381 units and commercial vehicle sales jumped more than fivefold to 32,683 units. SAIC Motor reported a 12% increase in global sales to 2,052,680 units year-to-date, driven by a 32% surge in SAIC-GM-Wuling's deliveries to 753,276 units. SAIC-VW's sales dropped by 4% to 492,145 units, while SAIC-GM's sales increased by 9% to 245,067 units from depressed year-earlier levels. Overseas sales increased by just over 1% to 494,052 units, while global NEV sales surged by 40% to 646,322 units. Geely Automobile Holdings reported a 47% rise in global sales to 1,409,180 units in the first half of 2025, while Chery Automobile's sales rose by 14% to 1,260,124 units, including 550,270 exports. GAC Group, including its joint ventures with Toyota and Honda, reported a 12% sales decline to 755,300 units, while Great Wall Motor's sales increased by 8% to 559,669 units – driven by a 63% jump in overseas sales to 201,500 units. Tesla's Shanghai factory sales fell by 15% to 364,474 units year-to-date, with retail sales in China falling by 5% to 263,410 units despite the recent launch of the revised Model Y, while exports plunged by 32% to 101,064 units. "Chinese vehicle sales rise 14% in June" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
