Here’s a roundup of the latest news topics worth following today:
Asia-Pacific Stock Markets Likely to Extend Positive Trend: Asia-Pacific stock markets are anticipated to continue their upward trajectory on April 30, in sync with the positive closure of the US stock market. Additionally, investors are closely monitoring announcements from Japanese officials regarding potential interventions to stabilize the yen’s depreciation.
Samsung Electronics Witnesses Surge in Operating Results: Samsung Electronics reported a significant surge in its operating results, driven by the return to profitability in its semiconductor business, marking the first such achievement since 2022. This growth is attributed to substantial investments in artificial intelligence (AI) development.
Japan’s Industrial Output Rebounds in March: Japan’s Ministry of Economy, Trade, and Industry revealed a noteworthy 3.8% increase in industrial output for March, bouncing back from a 0.6% decline in February. The Factory and Mine Production Index rose to 101.1, up from the 2020 base level of 100. However, industrial output for fiscal year 2023 contracted by 2.0% compared to 2022.
Tensions Escalate at Columbia University: Negotiations between pro-Palestinian students and university administrators at Columbia University have faltered. Administrators are urging students to dismantle tents erected on the central lawn, but students have refused, citing concerns about financial support from Israel-affiliated organizations. Despite threats of disciplinary measures, students have announced their intention to continue camping on campus.
Israel Considers Ceasefire Amid Talks in Cairo: Israeli Foreign Minister Israel Katz announced a potential suspension of ground operations against Rafah pending a ceasefire agreement with Hamas, with ongoing talks in Cairo, Egypt. Top Hamas officials, led by deputy leader Khalil al-Hayya, are traveling to Egypt to participate in ceasefire negotiations mediated by Qatar and the United States. British Foreign Secretary David Cameron disclosed Israel’s offer of a 40-day ceasefire in Gaza, contingent upon the release of hostages and thousands of Palestinian prisoners.
US Federal Reserve Forecasts 3.9% GDP Growth: The US Federal Reserve’s Atlanta Branch unveiled its latest GDPNow forecast model, projecting a robust 3.9% expansion in the US economy for the second quarter of 2024. The next GDPNow forecast is slated for release on May 1.
Upcoming Economic Data Releases: Today, various countries are set to release significant economic data, including South Korea’s March industrial production and retail sales, Japan’s March unemployment rate, industrial production, and retail sales, Australia’s March retail sales, China’s April Manufacturing and Services Purchasing Managers’ Index (PMI), France and Germany’s first-quarter 2024 GDP and April inflation rate, the EU’s first-quarter 2024 GDP and April inflation rate, and the US’s February home prices from S&P/Case-Shiller and April Consumer Confidence Index from the Conference Board.
Stay tuned for further updates on these developments throughout the day.