Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
South Korea’s export growth slowed to its weakest pace in 14 months, climbing only 1.4% in November. Declining shipments to the United States and China, driven by mounting tariff uncertainties, underline intensifying trade pressures on the South Korean economy.
Tariff Uncertainty Clouds South Korea's Export Outlook
According to trade data released on Sunday, South Korea's export growth declined for four consecutive months in November, reaching its worst level in fourteen months. This was due to a decline in exports to both the US and China, driven by uncertainty surrounding tariffs, Reuters explains.
Following a 4.6% increase in October, exports from Asia's fourth-largest economy increased by 1.4% year-on-year in November, reaching $56.35 billion.
Annual export growth continued for the fourteenth month in a row, albeit at the slowest rate in the series thus far, falling short of economists' consensus predictions of a 2.8% gain (as reported in a Reuters poll).
In a recent statement, the soon-to-be president of the United States, Donald Trump, promised to levy a 25% tariff on goods imported from Mexico and Canada—a move that is likely to have an impact on South Korean businesses—and "an additional 10% tariff, above any additional tariffs" on China, the country's largest trading partner.
US and China Shipments Decline Sharply
After eight straight months of growth, shipments to China were down 0.6%, while shipments to the US plummeted 5.1%, marking their first decline since July 2023. The increase in exports to the EU was 0.9%.
Due to strikes at key auto parts suppliers and shipping delays caused by severe weather, automobile sales dropped 13.6%, their worst loss since June 2020, while semiconductor sales grew 30.8%, the smallest growth in 11 months, Investing.com points out.
"The government will team up with the private sector and utilise all available resources to export even a dollar more by the end of the year," said Ahn Duk-geun, Trade Minister.
South Korea's Imports See First Decline in Five Months
The 2.4% decline to $50.74 billion in imports was in contrast to the 1.7% increase the previous month and the 0.4% gain predicted by analysts. The drop occurred after a five-month absence.
In November, the nation's trade surplus widened to $5.61 billion, from $3.15 billion in October.
