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Korean chip stocks were led by Hanmi Semiconductor, with its share price falling 4.4% to 116,100 won.December 4th - According to Reuters, three Japanese government sources said the Bank of Japan (BOJ) is likely to raise interest rates in December, and the government is expected to tolerate this decision. The sources said the BOJ appears prepared to raise its policy rate from 0.5% to 0.75%, a signal echoed by Governor Kazuo Ueda in his speech on Monday. This would be the first rate hike since January. One source said, "If the BOJ wants to raise rates this month, let them decide. Thats the governments position." He added that a rate hike this month is almost certain. Ueda stated on Monday that the BOJ would consider the "pros and cons" of a rate hike this month, indicating a high probability of a rate increase at its December 18-19 meeting. These comments have led the market to price in an approximately 80% probability of a December rate hike, although some market participants are watching how the dovish government of Prime Minister Sanae Takaichi might react. Market focus may shift to the BOJs wording regarding the ultimate extent to which it will raise rates, a topic on which Ueda remains ambiguous.December 4th - Hong Kong Investment Corporation (HKIC) released its 2024 annual report today, showing that as of June 30, 2025, every HK$1 invested by HKIC has attracted over HK$6 in long-term market capital. In the past two years, two of its portfolio companies have already listed in Hong Kong, and more than ten others submitted listing applications earlier this year. Among these companies, five were already unicorns before their IPOs, forming a "tiered reservoir" and achieving a virtuous cycle. HKIC CEO Chen Jiaqi stated that in 2025, the company will further deepen its involvement and progress, including leading new investment rounds, to help these companies seize market opportunities and "go global."Sources say the Bank of Japan is likely to raise interest rates in December, and the Japanese government is likely to tolerate it.Euro Stoxx 50 futures rose 0.56%, German DAX futures rose 0.52%, and UK FTSE 100 futures rose 0.33%.

The conclusion of the Argentine truckers' strike increases grain shipments

Charlie Brooks

Jul 01, 2022 11:36


The Argentine truckers' strike ended on Thursday, when several unions incensed by fuel shortages reached an agreement to terminate the one-week protest near the vital port of Rosario, which is expected to assist future grain exports.


The truck driver's protest over high gasoline prices has halted shipments of corn and other goods, just as the bulk of the harvest was making its way to ports for export to worldwide markets.


Due to the exclusion of a few tiny truckers groups from the deal, however, it is possible that certain protests may continue.


Argentina is the second-largest exporter of maize, the top exporter of processed soy oil and meal, and a major supplier of wheat and beef.


One of the unions, Autoconvocados Unidos, issued the following statement: "Despite our dissatisfaction (with the latest settlement of truck freight rates) and in light of the present crisis in our country, we have chosen to halt the strike."


The union described their action as an act of kindness.


The number of trucks entering ports surged by 70 percent on Thursday compared to the previous day, reaching approximately 1,500 vehicles, as reported by the Rosario grains market.


The Rosario ports are the departure point for 80 percent of Argentina's agricultural exports, the vast majority of which are transported by truck.


The ability of trucks to access the port is returning to normal, according to the manager of the country's marine port chamber, Guillermo Wade.


Additionally on Wednesday, the transport ministry secured a deal with non-striking agricultural and transport groups to hike grain freight charges by 25%.


However, the majority of protesting unions, led by the UNTRA truckers' union, felt the rate increase insufficient and chose to dismantle highway blockades.


The head of the UNTRA, Carlos Geneiro, said, "We have far greater expenses than that."


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