South Korea is scrapping a security deal with Japan — here’s why it matters

South Korea on Thursday said it will scrap an intelligence sharing agreement with Japan, creating possibly serious consequences for the effective monitoring of North Korea. Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region. One day after the Japanese and Korean foreign ministers met in China to discuss trade and national security, Seoul announced that it isn’t in its “national interests” to maintain the in


South Korea on Thursday said it will scrap an intelligence sharing agreement with Japan, creating possibly serious consequences for the effective monitoring of North Korea. Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region. One day after the Japanese and Korean foreign ministers met in China to discuss trade and national security, Seoul announced that it isn’t in its “national interests” to maintain the in
South Korea is scrapping a security deal with Japan — here’s why it matters Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: grace shao
Keywords: news, cnbc, companies, security, japan, states, deal, united, south, intelligence, korea, trade, important, interests, scrapping, matters, national, heres


South Korea is scrapping a security deal with Japan — here's why it matters

South Korea on Thursday said it will scrap an intelligence sharing agreement with Japan, creating possibly serious consequences for the effective monitoring of North Korea.

Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region. One day after the Japanese and Korean foreign ministers met in China to discuss trade and national security, Seoul announced that it isn’t in its “national interests” to maintain the intelligence pact.

Both the United States and China have stepped in to mediate.

U.S. Secretary of State Mike Pompeo urged the two countries to work out their differences on Thursday, saying “there is no doubt that the shared interests of Japan and South Korea are important, and they’re important to the United States of America. “


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: grace shao
Keywords: news, cnbc, companies, security, japan, states, deal, united, south, intelligence, korea, trade, important, interests, scrapping, matters, national, heres


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Japan surpasses China as largest foreign holder of US Treasurys

How the Chinese yuan is likely to perform in three trade war… The trade war between the U.S. and China is turning into a brewing currency war, say analysts. Bank of America Merrill Lynch Global Research predicts what might happen to the…Asia FXread more


How the Chinese yuan is likely to perform in three trade war… The trade war between the U.S. and China is turning into a brewing currency war, say analysts. Bank of America Merrill Lynch Global Research predicts what might happen to the…Asia FXread more
Japan surpasses China as largest foreign holder of US Treasurys Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: patti domm
Keywords: news, cnbc, companies, turning, research, perform, holder, treasurys, war, japan, trade, say, china, predicts, largest, surpasses, foreign, warthe, theasia, yuan


Japan surpasses China as largest foreign holder of US Treasurys

How the Chinese yuan is likely to perform in three trade war…

The trade war between the U.S. and China is turning into a brewing currency war, say analysts. Bank of America Merrill Lynch Global Research predicts what might happen to the…

Asia FX

read more


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: patti domm
Keywords: news, cnbc, companies, turning, research, perform, holder, treasurys, war, japan, trade, say, china, predicts, largest, surpasses, foreign, warthe, theasia, yuan


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Bank of Japan has ‘limited’ options to spur growth if the trade war heats up further: Goldman Sachs

The Bank of Japan likely heaved a sigh of relief following Friday’s strong economic numbers, but the central bank will have to remain “on guard and prepared to do more” amid the present global uncertainty, said the chief Japan strategist at Goldman Sachs, Kathy Matsui. However, the BOJ has “pretty limited” options if the trade friction between China and the U.S. becomes worse, according to Matsui. It was much better than a median forecast for a 0.4% growth. It comes at a time when short-term int


The Bank of Japan likely heaved a sigh of relief following Friday’s strong economic numbers, but the central bank will have to remain “on guard and prepared to do more” amid the present global uncertainty, said the chief Japan strategist at Goldman Sachs, Kathy Matsui. However, the BOJ has “pretty limited” options if the trade friction between China and the U.S. becomes worse, according to Matsui. It was much better than a median forecast for a 0.4% growth. It comes at a time when short-term int
Bank of Japan has ‘limited’ options to spur growth if the trade war heats up further: Goldman Sachs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: eustance huang
Keywords: news, cnbc, companies, central, sachs, uncertainty, spur, options, war, interest, unchanged, trade, bank, rates, heats, japan, goldman, worse, growth, limited, boj


Bank of Japan has 'limited' options to spur growth if the trade war heats up further: Goldman Sachs

The Bank of Japan likely heaved a sigh of relief following Friday’s strong economic numbers, but the central bank will have to remain “on guard and prepared to do more” amid the present global uncertainty, said the chief Japan strategist at Goldman Sachs, Kathy Matsui.

However, the BOJ has “pretty limited” options if the trade friction between China and the U.S. becomes worse, according to Matsui.

Japan reported Friday that gross domestic product grew at an annualized rate of 1.8% in the second quarter which ended in June, preliminary data from the Cabinet Office showed. It was much better than a median forecast for a 0.4% growth.

It comes at a time when short-term interest rates in Japan has been unchanged at -0.1% since the BOJ adopted negative interest rates in January 2016. The country’s central bank has been struggling to meet an elusive inflation target of 2%.


Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: eustance huang
Keywords: news, cnbc, companies, central, sachs, uncertainty, spur, options, war, interest, unchanged, trade, bank, rates, heats, japan, goldman, worse, growth, limited, boj


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The world’s 3 best passports for travel aren’t from the US or Europe

The figure represents the number of countries and destinations those passports can access without having to apply for a visa. Henley’s index includes more destinations beyond those officially recognized by the UN — 227 in total — but scores passports according to where they can travel entirely visa-free or obtain a visa-on-arrival. Leren Lu | Photographer’s Choice | Getty ImagesThe most mobile passports in the world in 2019, according to Passport Index1. Lithuania, Iceland, United Kingdom, Canad


The figure represents the number of countries and destinations those passports can access without having to apply for a visa. Henley’s index includes more destinations beyond those officially recognized by the UN — 227 in total — but scores passports according to where they can travel entirely visa-free or obtain a visa-on-arrival. Leren Lu | Photographer’s Choice | Getty ImagesThe most mobile passports in the world in 2019, according to Passport Index1. Lithuania, Iceland, United Kingdom, Canad
The world’s 3 best passports for travel aren’t from the US or Europe Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: natasha turak
Keywords: news, cnbc, companies, access, worlds, countries, united, travel, best, according, europe, visa, japan, henley, passports, arent, singapore, passport


The world's 3 best passports for travel aren't from the US or Europe

Douglas Sacha | Moment | Getty Images

Traveling comes with its share of challenges, not least applying for visas. And visa regimes can determine the trajectory of your life: where you’re allowed to travel, study, work and live. Your global mobility essentially comes down to that little booklet you hold. Here are the passports that enjoy the greatest travel freedom and the lowest number of visa requirements around the world in 2019, according to rankings from two global citizenship and residence advisory firms: Arton Capital’s Global Passport Power Rank 2019 and Henley & Partners’ 2019 Henley Passport Index.

1. Singapore, Japan, and the United Arab Emirates

Singapore and Japan tie for first place on the Henley Passport Index, while the United Arab Emirates (UAE) sits atop the Arton Capital Passport Index ranking. Henley gives Singapore and Japan scores of 189. The figure represents the number of countries and destinations those passports can access without having to apply for a visa. Arton Capital’s Passport Index gives UAE citizens a mobility score of 175, the highest on its list. The sites’ lists differ due to differences in methodology. Henley’s index includes more destinations beyond those officially recognized by the UN — 227 in total — but scores passports according to where they can travel entirely visa-free or obtain a visa-on-arrival. Arton Capital’s index, meanwhile, awards passport scores based on both visa-free and e-visa travel ability, and examines passport access to 199 destinations: 193 United Nations member countries and six officially recognized territories.

Mother and child walk close to Singapore business district. Leren Lu | Photographer’s Choice | Getty Images

The most mobile passports in the world in 2019, according to Passport Index

1. United Arab Emirates 2. Tied: Finland, Luxembourg, Spain 3. Denmark, Italy, Germany, Netherlands, Austria, Portugal, Switzerland, Japan, South Korea, Ireland, United States 4. Sweden, Singapore, France, Belgium, Malta, Greece, Norway 5. Lithuania, Iceland, United Kingdom, Canada

The most mobile passports in the world in 2019, according to Henley & Partners:

1. Tied: Singapore and Japan 2. Finland, Germany, South Korea 3. Denmark, Italy, Luxembourg 4. France, Spain, Sweden 5. Austria, Netherlands, Portugal, Sweden The U.S., U.K. and Canada are tied for sixth in terms of travel accessibility, along with Norway, Greece, Belgium and Ireland, all of which have visa-free access to 183 destinations, according to Henley & Partners. Henley says this is one of the lowest ranks the U.S. has held in the index’s 14-year history, having moved down from first place in its ranking in 2014.

The world’s least mobile passports

Both indexes list the same passports as the five weakest and least mobile in the world. Starting with the bottom-ranked, they are: 1. Afghanistan 2. Iraq 3. Syria 4. Pakistan 5. Somalia Citizens from these countries can access between just 25 and 40 countries without a visa, and need prior visa approval for between 158 and 168 countries, according to both indexes.

Why Asian and Middle Eastern hubs stand out

Henley & Partners describes Japan and Singapore as countries that have “long taken a proactive foreign policy approach, and have worked to establish mutually beneficial diplomatic relationships with a wide range of countries around the world.” Paddy Blewer, the firm’s public relations director, describes their main advantage as having access to all of Europe as well as the U.S., Canada, and Australia. “These strong Asian nations also have better ties to other countries in their region and have an upper hand regarding access to more traditionally closed-off destinations such as Azerbaijan and China, etc., whose lists of visa-exempt or visa-on-arrival countries are extremely selective,” Blewer told CNBC. The UAE’s passport ranking, meanwhile, was mainly boosted by its 2015 Schengen visa waiver, according to the country’s online government portal, government.ae.

Dubai, United Arab Emirates Jorg Greuel | Stone | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: natasha turak
Keywords: news, cnbc, companies, access, worlds, countries, united, travel, best, according, europe, visa, japan, henley, passports, arent, singapore, passport


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Tariff pinpricks on China trade are useless, diplomacy is a better way

Blissfully ignoring the taunts, Beijing pocketed, on Trump’s watch, $961.8 billion in net income, with technology transfers that go with it, on its American goods trade. But let’s stay with the U.S., where the question is: What can, and should, Trump do about trade with China? Making China trade a big political football during an election year is also tempting as Trump seeks to discredit his Democratic opponents. The EU’s revised trade policy toward China will create problems for some member cou


Blissfully ignoring the taunts, Beijing pocketed, on Trump’s watch, $961.8 billion in net income, with technology transfers that go with it, on its American goods trade. But let’s stay with the U.S., where the question is: What can, and should, Trump do about trade with China? Making China trade a big political football during an election year is also tempting as Trump seeks to discredit his Democratic opponents. The EU’s revised trade policy toward China will create problems for some member cou
Tariff pinpricks on China trade are useless, diplomacy is a better way Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: dr michael ivanovitch
Keywords: news, cnbc, companies, president, trade, useless, japan, american, world, pinpricks, goods, chinas, tariff, way, trump, political, better, diplomacy, china


Tariff pinpricks on China trade are useless, diplomacy is a better way

U.S. President Donald Trump attends a bilateral meeting with China’s President Xi Jinping during the G-20 leaders summit in Osaka, Japan, June 29, 2019. Kevin Lamarque | Reuters

China needs no warning shots about an old trade story. It is now more than three years since Donald Trump told a New York campaign rally that China was “upset” about his trade talk, adding, for emphasis, “They are ripping us off,” and pledging to put an end to that. What was China’s response to that taunt, repeated many times over, including in Trump’s tweets and press statements last week? Blissfully ignoring the taunts, Beijing pocketed, on Trump’s watch, $961.8 billion in net income, with technology transfers that go with it, on its American goods trade. By the end of this year, China’s net income on goods sales in U.S. markets will hit $1.1 trillion. Trump has been politically wounded and open to attacks on, arguably, the most important economic, political and security aspects of his foreign policy.

Beijing made its money

But China should hold off on the celebratory champagne. In spite of Washington’s clumsiness, or worse, the world sees the huge bilateral trade imbalance China created without much concern for political problems raised by its aggressive mercantilism. Even Germans, China’s fellow mercantilists, have moved to protect their markets and industries from Chinese traders and investors. They have now been joined by the French to fortify the European Union’s trade walls to the outside world, extending protectionist policies to partner and membership candidate countries. China has received special attention in that new policy. Chinese President Xi Jinping got an earful on that from French and German leaders during his visit to France in March of this year. But let’s stay with the U.S., where the question is: What can, and should, Trump do about trade with China? To start with, Trump should never lose sight of what his security experts told him: China is a strategic competitor and a challenge to the existing world order, also known as Pax Americana. China, of course, bristles at that characterization as an outdated “cold war,” “zero-sum-game” mentality, offering its own view of a multilateral world thriving on “win-win cooperation” and a “community of shared future for mankind.” Beijing, however, has a problem because its trade record with the U.S. shows the “win-win” mantra is, in fact, an axiomatic “I win, you lose” zero-sum-game. A “community of shared future for mankind” is a noble view of a world to strive for, but it’s too ethereal as a practical political guideline. Trump should not waste time with that. The best way to defend his trade policies is to promptly conclude agreements with the EU — essentially Germany — and Japan. That should be easy. To get around the main problem, Germany must grant reciprocal import duties on U.S. cars to benefit from an extremely friendly 2.5% tax on its car imports into the United States. Trade negotiations with Japan are apparently much more advanced. Trump should use the forthcoming G-7 meeting in France to accelerate the completion of both trade deals.

Balance US trade now

Revised trade agreements with Canada, Mexico, EU and Japan would be proof that the U.S. is not out to destroy the multinational trading system, but just to correct excessive trade imbalances created by an unfair and unfavorable treatment of American goods and services. That would put China under pressure to move faster toward a more balanced trade with the U.S. So far, Beijing has not shown much sense of urgency to do that. In the first half of this year, China’s trade surplus with the U.S. was down 10% from the same period of 2018, but it was still moving along at an annual rate of $334.1 billion on $440 billion (annual rate) of export sales to American markets. Particularly disappointing was the fact that, over the same period, Chinese purchases of American goods were down 19%, accounting for less than a quarter of what China sold to the U.S. With those trade numbers, China has become an election issue in the U.S. Indeed, Washington’s huge trade deficits with China can be taken to support Trump’s arguments of a big China rip-off, economic war on America and alleged technology thefts — all issues that resonate with the American public and audiences around the world. Making China trade a big political football during an election year is also tempting as Trump seeks to discredit his Democratic opponents. Soon, some of his trade experts could tell him that Chinese trade surpluses soared 30% during President Barack Obama’s administration. Is that where China wants to be in the U.S. election cycle? China’s position was also shaken in Europe. The EU’s revised trade policy toward China will create problems for some member countries favorably disposed toward China’s trade and investments. That could also complicate China’s Belt and Road projects linked to European destinations. Asian countries are more ambivalent. Many are welcoming China trade, but are eager to have the U.S. around as a political and security counterweight because they are unwilling to choose sides.

Investment thoughts


Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: dr michael ivanovitch
Keywords: news, cnbc, companies, president, trade, useless, japan, american, world, pinpricks, goods, chinas, tariff, way, trump, political, better, diplomacy, china


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Japan to remove South Korea from ‘white list’ of favored trade partners

South Korean President Moon Jae-in walks past Japanese Prime Minister Shinzo Abe at the G-20 summit in Osaka, Japan, on June 28, 2019. The decision to drop South Korea from the “white list,” a step that has been protested fiercely by Seoul, comes a month after Japan tightened curbs on exports to South Korea of three high-tech materials needed to make memory chips and display panels. South Korea would be the first country to be removed from Japan’s white list, which currently has 27 countries inc


South Korean President Moon Jae-in walks past Japanese Prime Minister Shinzo Abe at the G-20 summit in Osaka, Japan, on June 28, 2019. The decision to drop South Korea from the “white list,” a step that has been protested fiercely by Seoul, comes a month after Japan tightened curbs on exports to South Korea of three high-tech materials needed to make memory chips and display panels. South Korea would be the first country to be removed from Japan’s white list, which currently has 27 countries inc
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Company: cnbc, Activity: cnbc, Date: 2019-08-02
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Japan to remove South Korea from 'white list' of favored trade partners

South Korean President Moon Jae-in walks past Japanese Prime Minister Shinzo Abe at the G-20 summit in Osaka, Japan, on June 28, 2019.

Japan’s cabinet on Friday approved a plan to remove South Korea from a list of countries that enjoy minimum export controls, a move likely to escalate tensions fueled by a dispute over compensation for wartime forced laborers.

The decision to drop South Korea from the “white list,” a step that has been protested fiercely by Seoul, comes a month after Japan tightened curbs on exports to South Korea of three high-tech materials needed to make memory chips and display panels.

The decision was approved by the cabinet and would take effect from Aug. 28, Industry Minister Hiroshige Seko told a briefing. He said the trade control was not a countermeasure and was done from the standpoint of Japan’s national security.

Japan has previously cited what it says is South Korea’s insufficient export controls as the main impetus for the move. But Tokyo has also highlighted what it says is an erosion of trust after South Korean court rulings ordered Japanese firms compensate wartime forced laborers.

Japan says that issue of compensation was settled by a 1965 treaty that normalized ties between Tokyo and Seoul.

South Korea would be the first country to be removed from Japan’s white list, which currently has 27 countries including Germany, Britain and the United States.

The measure could require South Korean exporters to take extra administrative procedures to obtain export licenses, potentially slowing down exports of a wide range of goods that could be used to produce weapons.

South Korean officials have warned they may reconsider an intelligence sharing accord with Japan if the feud worsens.

The United States has urged its two key Asian allies to consider reaching a “standstill agreement” to buy more time for talks, a senior U.S. administration official told reporters in Washington on Tuesday.

U.S. Secretary of State Mike Pompeo said on Thursday he hoped the two would find a solution by themselves, stressing cooperation on North Korea was “incredibly important.”

Seko said Japan had briefed the U.S. administration on its plans to remove South Korea from the list, and added that the move was not intended to hurt bilateral relations with South Korea.


Company: cnbc, Activity: cnbc, Date: 2019-08-02
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South Korea warns Japan that removing Seoul from its preferential list could affect security cooperation

South Korean President Moon Jae-in walks past Japanese Prime Minister Shinzo Abe at the G-20 summit in Osaka, Japan, on June 28, 2019. South Korea’s Foreign Minister Kang Kyung-wha held talks with her Japanese counterpart Taro Kono on the sidelines of a Southeast Asia conference in Bangkok on Thursday. The meeting was the highest-level talks since Japan tightened curbs last month on exports to South Korea of high-tech materials, accusing its neighbour of inadequate management of sensitive items.


South Korean President Moon Jae-in walks past Japanese Prime Minister Shinzo Abe at the G-20 summit in Osaka, Japan, on June 28, 2019. South Korea’s Foreign Minister Kang Kyung-wha held talks with her Japanese counterpart Taro Kono on the sidelines of a Southeast Asia conference in Bangkok on Thursday. The meeting was the highest-level talks since Japan tightened curbs last month on exports to South Korea of high-tech materials, accusing its neighbour of inadequate management of sensitive items.
South Korea warns Japan that removing Seoul from its preferential list could affect security cooperation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: huileng tan
Keywords: news, cnbc, companies, japan, list, japanese, removing, warns, koreas, foreign, seoul, trade, talks, cooperation, minister, security, korea, south, preferential


South Korea warns Japan that removing Seoul from its preferential list could affect security cooperation

South Korean President Moon Jae-in walks past Japanese Prime Minister Shinzo Abe at the G-20 summit in Osaka, Japan, on June 28, 2019.

South Korea’s foreign minister warned on Thursday that if Japan removes South Korea from its list of countries with minimum trade restrictions, Seoul would have to review bilateral security cooperation

Relations between Japan and South Korea are arguably at their lowest ebb since they normalised ties in 1965, with a spiralling diplomatic and trade row threatening to disrupt the global supply of semiconductors and undercut crucial security cooperation on North Korea.

South Korea’s Foreign Minister Kang Kyung-wha held talks with her Japanese counterpart Taro Kono on the sidelines of a Southeast Asia conference in Bangkok on Thursday.

The meeting was the highest-level talks since Japan tightened curbs last month on exports to South Korea of high-tech materials, accusing its neighbour of inadequate management of sensitive items.

A South Korean court ruled last year that Japanese firms had to pay compensation to South Koreans forced to work in Japanese factories during Japan’s occupation of the Korean peninsula from 1910 to 1945. Japan says a settlement has already been reached.

The Bangkok talks failed to narrow differences, with an official at South Korea’s foreign ministry saying there was “no

major change ” in Japan’s stance.

Tokyo is expected to give cabinet approval for the removal of South Korea from its so-called “white list” as early as Friday.

Kang said she urged Kono to stop the process or it would force Seoul to craft countermeasures.

“As Japan cited security reasons for its trade restrictions, I said we will have no option but to review the various frameworks of security cooperation with Japan if the cabinet decision comes tomorrow,” Kang told reporters. There was no immediate comment from Japan’s foreign ministry.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: huileng tan
Keywords: news, cnbc, companies, japan, list, japanese, removing, warns, koreas, foreign, seoul, trade, talks, cooperation, minister, security, korea, south, preferential


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Japan-South Korea dispute may be good news for memory chip prices

An ongoing trade conflict between Japan and South Korea may potentially boost memory chip prices, which have remained low for about a year, according to an analyst. The situation could escalate this week if Japan removes South Korea from a list of trusted trade partners that enjoy preferential treatment. That process, Newman explained, normally takes two to three months and may result in a reduction of Samsung’s memory chip inventory — the memory business is a significant component of Samsung’s


An ongoing trade conflict between Japan and South Korea may potentially boost memory chip prices, which have remained low for about a year, according to an analyst. The situation could escalate this week if Japan removes South Korea from a list of trusted trade partners that enjoy preferential treatment. That process, Newman explained, normally takes two to three months and may result in a reduction of Samsung’s memory chip inventory — the memory business is a significant component of Samsung’s
Japan-South Korea dispute may be good news for memory chip prices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, supply, japansouth, process, memory, materials, prices, samsung, japan, korea, chip, newman, south, dispute, good


Japan-South Korea dispute may be good news for memory chip prices

An ongoing trade conflict between Japan and South Korea may potentially boost memory chip prices, which have remained low for about a year, according to an analyst. Due to a growing dispute over wartime forced labor, Japan announced stricter restrictions on exports of three crucial high-tech materials that are used by South Korean tech companies like Samsung to make memory chips and smartphone displays. The situation could escalate this week if Japan removes South Korea from a list of trusted trade partners that enjoy preferential treatment. Samsung may be forced to look for alternative supply sources for all its technology parts and materials imported from Japan, that are needed to build its memory chips, batteries and display screens, Mark Newman, managing director and senior analyst at Sanford C. Bernstein, said on Wednesday. “They need to qualify those alternatives,” Newman told CNBC’s “Squawk Box, ” referring to the process of selecting the right supply chain partners to buy materials from, and to ensure they meet Samsung’s quality control standards. That process, Newman explained, normally takes two to three months and may result in a reduction of Samsung’s memory chip inventory — the memory business is a significant component of Samsung’s overall earnings.

A memory module by Samsung Electronics. SeongJoon Cho | Bloomberg | Getty Images

“There’s a potential the production could go down for a few weeks, which would have a significant positive impact on memory prices if that did ever happen,” Newman said, adding that spot prices have already started rebounding. Still, he added, it’s not an immediate emergency for Samsung as the company has “enough inventory to continue production right now.” Reuters reported that South Korean chipmakers were already sounding out non-Japanese suppliers to secure stock for the three high-tech materials that were restricted in July.

Samsung Q2 profits down 56%

Japanese Prime Minister Shinzo Abe’s cabinet plans to endorse Seoul’s removal from the so-called “white list,” which is expected to go into effect late August, the Nikkei business daily reported. South Korea relies heavily on Japanese exports of intermediate parts and materials, particularly electronics components and chemical products, in its manufacturing industry. If the move goes through, Japanese exporters will need licenses to ship hundreds of items to South Korea that could potentially be used in weapons-related applications. Getting those approvals could take time and delay business processes. In turn, that may slow down electronics exports and manufacturing in South Korea, according to analysts. Samsung reported a 56% decline in second-quarter operating profit for the three months that ended June due to falling memory chip prices. On its earnings call, a Samsung executive said the company is facing “difficulties due to the burden of this new export approval process, and the uncertainties that this new process would bring.” For nearly a year, the global semiconductor industry had been undergoing a period of inventory adjustment that has kept demand low and caused a supply glut, which in turn squeezed prices. Analysts have said they expect a recovery to get underway in 2020.

Still, Samsung said its second-quarter memory demand rose despite weak business conditions and that it expects further increase in the second half of the year due to “strong seasonality.”

‘Final innings’ of a downturn

Some experts have said the trade dispute between Tokyo and Seoul may not necessarily result in any major disruption to supply chains. “As long as these materials come out of Japan and go to a distributor, then it could be re-routed to (South) Korea,” Mehdi Hosseini, senior tech hardware analyst at Susquehanna Financial Group, told CNBC’s “Street Signs ” on Wednesday. “Maybe there is a little bit of an added cost associated with this, but similar to the situation between U.S. and China, the dispute between Japan and (South) Korea has not really had any disruptive impact.” Hosseini also said the semiconductor industry is seeing some stabilization. “The inventory correction of the downturn is behind us. We’re in the final innings,” he said, adding that it remains to be seen how technologies such as cloud computing and 5G — the next-generation of ultra high-speed mobile internet — drive demand for memory chips. “We need to wait till the Fall to have a better view of 2020, and, therefore be able to determine the slope of the recovery,” Hosseini said. “It is a little bit early.”


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, supply, japansouth, process, memory, materials, prices, samsung, japan, korea, chip, newman, south, dispute, good


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Asia Pacific stocks gain amid US-China trade developments

Stocks in Asia Pacific were mostly higher on Wednesday following developments on the U.S.-China trade front. Mainland Chinese shares rose on the day, with the Shanghai composite adding 0.8% to 2,923.28 and the Shenzhen component gaining 0.99% to 9,266.30, while the Shenzhen composite advanced 1.106% to 1,562.97. The Nikkei 225 in Japan closed 0.41% higher at 21,709.57, while the Topix index added 0.4% to end its trading day in Tokyo at 1,575.09. Shares of Apple supplier LG Display dropped 3.81%


Stocks in Asia Pacific were mostly higher on Wednesday following developments on the U.S.-China trade front. Mainland Chinese shares rose on the day, with the Shanghai composite adding 0.8% to 2,923.28 and the Shenzhen component gaining 0.99% to 9,266.30, while the Shenzhen composite advanced 1.106% to 1,562.97. The Nikkei 225 in Japan closed 0.41% higher at 21,709.57, while the Topix index added 0.4% to end its trading day in Tokyo at 1,575.09. Shares of Apple supplier LG Display dropped 3.81%
Asia Pacific stocks gain amid US-China trade developments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-24  Authors: eustance huang
Keywords: news, cnbc, companies, developments, tokyo, amid, uschina, pacific, south, rose, gain, asia, index, trade, trading, supplier, shares, stocks, shenzhen, japan


Asia Pacific stocks gain amid US-China trade developments

Stocks in Asia Pacific were mostly higher on Wednesday following developments on the U.S.-China trade front.

Mainland Chinese shares rose on the day, with the Shanghai composite adding 0.8% to 2,923.28 and the Shenzhen component gaining 0.99% to 9,266.30, while the Shenzhen composite advanced 1.106% to 1,562.97.

Hong Kong’s Hang Seng index added 0.42%, as of its final hour of trading. Shares of cosmetic manufacturer L’Occitane jumped more than 5%, with Nomura upgrading the stock to a “buy.”

Meanwhile, the S&P/ASX 200 in Australia rose 0.77% to close at 6,776.70 as most sectors saw gains.

The Nikkei 225 in Japan closed 0.41% higher at 21,709.57, while the Topix index added 0.4% to end its trading day in Tokyo at 1,575.09.

Over in South Korea, however, the Kospi fell 0.91% to close at 2,082.30.

Shares of Apple supplier LG Display dropped 3.81% after the firm reported a larger-than-expected second-quarter operating loss. The company also said it is looking to diversify its supplier base amid the ongoing diplomatic spat between Tokyo and Seoul that has seen Japan place export curbs on important materials to South Korea.

South Korea on Wednesday asked Japan to scrap its plan to remove the former from its so-called white list of minimum trade restrictions.

Overall, the MSCI Asia ex-Japan index edged up 0.04%.


Company: cnbc, Activity: cnbc, Date: 2019-07-24  Authors: eustance huang
Keywords: news, cnbc, companies, developments, tokyo, amid, uschina, pacific, south, rose, gain, asia, index, trade, trading, supplier, shares, stocks, shenzhen, japan


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Abe’s ruling coalition wins majority in Japan polls, but lacks enough seats for reform

Japan Prime Minister and ruling Liberal Democratic Party President Shinzo Abe at an election campaign rally in Japan. Japan’s Prime Minister Shinzo Abe and his ruling coalition party won a majority in the country’s upper house elections on Sunday — but they failed to secure enough votes needed for Abe’s long-held dream of revising the constitution. Abe’s Liberal Democratic Party and its partner, the Komeito Party, won at least 69 of the 124 seats contested in parliament’s 245-seat upper house —


Japan Prime Minister and ruling Liberal Democratic Party President Shinzo Abe at an election campaign rally in Japan. Japan’s Prime Minister Shinzo Abe and his ruling coalition party won a majority in the country’s upper house elections on Sunday — but they failed to secure enough votes needed for Abe’s long-held dream of revising the constitution. Abe’s Liberal Democratic Party and its partner, the Komeito Party, won at least 69 of the 124 seats contested in parliament’s 245-seat upper house —
Abe’s ruling coalition wins majority in Japan polls, but lacks enough seats for reform Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: weizhen tan
Keywords: news, cnbc, companies, polls, won, abes, upper, seats, needed, majority, japan, coalition, lacks, shinzo, prime, party, minister, wins, ruling, reform


Abe's ruling coalition wins majority in Japan polls, but lacks enough seats for reform

Japan Prime Minister and ruling Liberal Democratic Party President Shinzo Abe at an election campaign rally in Japan.

Japan’s Prime Minister Shinzo Abe and his ruling coalition party won a majority in the country’s upper house elections on Sunday — but they failed to secure enough votes needed for Abe’s long-held dream of revising the constitution.

Abe’s Liberal Democratic Party and its partner, the Komeito Party, won at least 69 of the 124 seats contested in parliament’s 245-seat upper house — with nine seats yet to be called, according to Japanese media reports.

But the coalition fell short of a two-thirds “super majority” — or 85 seats — needed to revise the country’s constitution. The move would allow Japan to further legitimize its military, and end a ban that has kept its armed forces from fighting abroad since 1945, when World War II ended.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: weizhen tan
Keywords: news, cnbc, companies, polls, won, abes, upper, seats, needed, majority, japan, coalition, lacks, shinzo, prime, party, minister, wins, ruling, reform


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