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POPULAR NEWS
Gold prices rise on weaker dollar as traders weigh progress on U.S.-China trade

Gold prices climbed Friday, buoyed by weakness in the dollar and a fall in bond yields, as traders struggled to sort out news that China has agreed to the text of a phase one trade deal with United States. Against that backdrop, February gold rose $3.70, or 0.3%, at $1,476 an ounce, set to more than recover its loss from Thursday. March silver meanwhile, shed 1.9 cents, or 0.1%, to $16.93 an ounce, after four consecutive sessions of gains. Among other metals on Comex, March copper fell 0.5%...

Dollar Hits Lowest Since July as Havens Retreat, Pound Rallies

The Bloomberg Dollar Spot Index drops a second week as riskier assets gain after U.S.-China agree on a phase-one trade deal and the U.K.™s Conservative Party wins a crushing majority in Thursday™s election. USD/JPY up 0.3% to 109.63 GBP/USD rallies by 2.7% to 1.3514, strongest since May 2018 before paring the advance; flows are nearly 10 times the average for the past month, as they now come two-way with a slight preference to fade dips, according to two traders in...

Gold Steady as Weaker Dollar Offsets Increased Risk Appetite

Gold prices were steady on Friday as a weaker dollar helped offset pressures from an increased appetite for riskier assets following reports of a breakthrough in China-U.S. trade negotiations, while palladium scaled a fresh peak. Spot gold fell 0.1% to $1,467.20 per ounce by 0452 GMT, but was up about 0.5% so far this week. U.S. gold futures were down 0.1% at $1,471.60. Sources said on Thursday U.S. negotiators were offering to cut existing tariffs on Chinese goods by as much as 50% and...

Gold Fails to Crumble as Trade Deal Hit Meets Dollar's Decline

Gold held its own on Friday as investors weighed bullion™s merits heading into 2020 after the U.S. and China managed a breakthrough in their bitter and drawn out trade dispute, with the commodity™s initial losses driven by weaker haven demand offset by a slump in the dollar. Bullion fluctuated after President Donald Trump signed off on a phase-one deal with China, averting the introduction of more U.S. tariffs, according to people familiar with the matter. Traders were also watching...

Hong Kong Stocks Soar on Trade Deal Reports (Review)

Hong Kong stocks jumped more than two percent Friday after reports said China and the US had finally reached a partial trade agreement that will see Washington cancel tariffs due to be imposed at the weekend. The Hang Seng index soared 2.57 percent, or 693.62 points, to 27,687.76. The benchmark Shanghai Composite Index added 1.78 percent, or 51.98 points, to 2,967.68 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rallied 1.48 percent, or 24.22 points, to...

Japan Says Curbs on Exports to South Korea Due to Broken Pledge
Thursday, 4 July 2019 00:20 WIB | GLOBAL |Global

Prime Minister Shinzo Abe said Wednesday that Japan cannot give South Korean exports preferential treatment because the country is not abiding by an agreement regarding wartime issues that Japan insists have been resolved.

Abe was objecting to criticism over escalating tensions between the two neighbors amid disputes over Koreans forced to work as laborers during World War II.

He was defending a decision announced Monday to impose restrictions on Japan's exports of semiconductor-related materials to South Korea. As of Thursday, exports of some materials used in manufacturing computer parts, including fluorinated polyimides used for displays, must apply for approval for each contract.

œWe did not intertwine historical issues with trade issues,'' Abe said. œThe issue of former Korean laborers is not about a historical issue but about whether to keep the promise between countries under international law and what to do when the promise is broken.''

Abe made the comment when asked about diplomacy during a party leaders' debate ahead of Tuesday's start of official campaigning for the July 21 Upper House elections.

Relations between the two main U.S. allies in East Asia have rapidly soured since South Korea's top court in October ordered Nippon Steel & Sumitomo Metal Corp. to pay 100 million won ($88,000) each to four plaintiffs forced to work for the company during Japan's 1910-1945 colonization of the Korean Peninsula. South Korea's top court ordered the seizure of local assets of the company after it refused to pay the compensation. Mitsubishi Heavy Industries also has refused an order by South Korea's Supreme Court to financially compensate 10 Koreans for forced labor during Japan's colonial era.

Abe said each country bears a responsibility to carry out export controls for national security reasons. œithin that obligation, if another country fails to keep its promise, we cannot give it preferential treatment like before,'' he said.

Abe and other officials have offered conflicting explanations for the move, citing both a lack of trust and unspecified security concerns.

On Tuesday, Chief Cabinet Secretary Yoshihide Suga cited national security concerns and œlack of trust'' after exchanges with Seoul for Japan's export control measures on South Korea. 

Japan is a major supplier of materials used to make the computer chips that run most devices, including Apple iPhones and laptop computers. Tokyo's decision is also expected to affect exports called œresists'' that are used for making semiconductors, and hydrogen fluoride used for semiconductors, pharmaceuticals and polymers such as nylon and Teflon.

Source : VOA

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POPULAR NEWS
Gold prices rise on weaker dollar as traders weigh progress on U.S.-China trade

Gold prices climbed Friday, buoyed by weakness in the dollar and a fall in bond yields, as traders struggled to sort out news that China has agreed to the text of a phase one trade deal with United States. Against that backdrop, February gold rose $3.70, or 0.3%, at $1,476 an ounce, set to more than recover its loss from Thursday. March silver meanwhile, shed 1.9 cents, or 0.1%, to $16.93 an ounce, after four consecutive sessions of gains. Among other metals on Comex, March copper fell 0.5%...

Dollar Hits Lowest Since July as Havens Retreat, Pound Rallies

The Bloomberg Dollar Spot Index drops a second week as riskier assets gain after U.S.-China agree on a phase-one trade deal and the U.K.™s Conservative Party wins a crushing majority in Thursday™s election. USD/JPY up 0.3% to 109.63 GBP/USD rallies by 2.7% to 1.3514, strongest since May 2018 before paring the advance; flows are nearly 10 times the average for the past month, as they now come two-way with a slight preference to fade dips, according to two traders in...

Gold Steady as Weaker Dollar Offsets Increased Risk Appetite

Gold prices were steady on Friday as a weaker dollar helped offset pressures from an increased appetite for riskier assets following reports of a breakthrough in China-U.S. trade negotiations, while palladium scaled a fresh peak. Spot gold fell 0.1% to $1,467.20 per ounce by 0452 GMT, but was up about 0.5% so far this week. U.S. gold futures were down 0.1% at $1,471.60. Sources said on Thursday U.S. negotiators were offering to cut existing tariffs on Chinese goods by as much as 50% and...

Gold Fails to Crumble as Trade Deal Hit Meets Dollar's Decline

Gold held its own on Friday as investors weighed bullion™s merits heading into 2020 after the U.S. and China managed a breakthrough in their bitter and drawn out trade dispute, with the commodity™s initial losses driven by weaker haven demand offset by a slump in the dollar. Bullion fluctuated after President Donald Trump signed off on a phase-one deal with China, averting the introduction of more U.S. tariffs, according to people familiar with the matter. Traders were also watching...

Hong Kong Stocks Soar on Trade Deal Reports (Review)

Hong Kong stocks jumped more than two percent Friday after reports said China and the US had finally reached a partial trade agreement that will see Washington cancel tariffs due to be imposed at the weekend. The Hang Seng index soared 2.57 percent, or 693.62 points, to 27,687.76. The benchmark Shanghai Composite Index added 1.78 percent, or 51.98 points, to 2,967.68 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rallied 1.48 percent, or 24.22 points, to...

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