Hello, I’m Kyungmin Lee/Kim Jungyoon who is in charge of market situation/strategy in the FICC Research Department of Daishin Securities.
[April 02] [Problem in major countries] I’m sending it to you.

United States of America

The U.S. Supply Management Association announced the Manufacturing Purchasing Managers’ Index (PMI) at 50.3 in March. Increased production and new orders drive manufacturing economic expansion. The US ISM manufacturing economy is expanding, suggesting a possible retreat in the timing of the Fed’s rate cut. In this regard, soaring interest rates on government bonds expand the burden on the index

WSJ reports that the collapse of a bridge in Baltimore, Maryland, will fuel the increase in reinsurance premiums. Amid rising costs of marine insurance due to the attack on the Red Sea vessel by Yemeni rebel Houthi, the Baltimore Piers accident said it would strengthen the rise in reinsurance premiums due to its large scale and complex intertwining of compensation issues

China

The New York Times reported that some Chinese accounts, citing experts and officials from the U.S. government, are impersonating Trump fans and fueling division in the U.S. This has turned out to be a method that China used during the 2016 U.S. presidential election. The Center for Strategic Dialogue, a non-profit research institute, interprets these accounts as being linked to the Chinese government’s “spamplage” tactic. The New York Times analyzed that China is trying to weaken the Biden administration’s policy

Korea

The Korea International Trade Association supports large-scale trade companies and small and medium-sized manufacturing companies to secure overseas sales channels. The Korea International Trade Association (KITA) and GS Retail & NH Nonghyup Trading will hold an overseas MD invitation export consultation meeting. 151 small and medium-sized manufacturing companies in the food and beverage, cosmetics and household goods sectors applied for participation, and 51 companies applied for consultation. Some companies will provide opportunities to introduce their products directly to local consumers through promotional events to be held in eight foreign countries in the second half of this year

KAMA, the Ministry of Land, Infrastructure, and Transport announced that the cumulative number of electric vehicles registered in Korea increased by 39.5% year-on-year to 544,000 units. The number of domestic chargers supplied exceeded 300,000 units for the first time in 2023. Electric vehicles and chargers are increasing to around 100,000 units every year, but the growth has slowed in the past two years

Other

Syrian broadcaster Al-Iqbariya, Israel’s military hit a consulate building next to the Iranian embassy in the southwest of Damascus with a missile. The Syrian Observatory for Human Rights said at least eight people were killed, and Iran’s Tasnim News reported that five people were killed. A spokesman for Iran’s foreign ministry said, “Iran has the right to respond to the bombing and will decide on the response and punishment of the aggressor later,” signaling retaliation

economic indicators

US March ISM Manufacturing Purchasing Managers’ Index 50.3p (forecast 48.5p, prior estimate 47.8p)

[Investment strategy of Daishin Securities / Telegram channel]