Tokyo-Seoul dispute adds to Singapore exporters' woes

A NEW battlefront triggered by the South Korea-Japan trade dispute and possible structural shifts in the electronics supply chain battered Singapore's June exports, with the electronics sector suffering its worst performance in a decade.A NEW battlefront triggered by the South Korea-Japan trade dispute and possible structural shifts in the electronics supply chain battered Singapore's June exports, with the electronics sector suffering its worst performance in a decade.

Flagging the same trend, Citi analysts said Singapore-based multinationals involved in tech exports may have taken more fire from regional supply chain events such as US curbs on Chinese vendor Huawei."If so, the fluidity of supply chain-related developments could be a source of volatility for exports in coming months," the Citi report added.

But"the opening of a new front in global trade tensions and the risk of disruptions to the regional tech supply chains are unwelcome additions to the growing list of challenges facing Singapore's economy at a time of plummeting NODX and electronics exports", Barclays' Brian Tan said in an e-mail to The Business Times, referring to the Japan-South Korea spat.

"Pharmaceutical exports may not be a reliable pillar of support to offset ongoing electronics export weakness," she wrote in a flash note. Singapore's total trade decreased by 7.2 per cent year on year in June, as both exports and imports fell - widening a slip of 2.2 per cent in May. Still, UOB's Mr Gan pointed to central bank chief Ravi Menon's remarks last month on how the economy might stabilise from the third quarter on."If, despite the downturn we've seen, Ravi Menon was still reiterating the same story in June, and they probably have more numbers than we do... it's some consolation," he said.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tokyo: Stocks open lower as trade optimism fades[TOKYO] Tokyo stocks opened lower on Wednesday tracking falls on Wall Street, as optimism over US-China trade talks receded after recent comments from both sides. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Tokyo: Stocks open lower as yen edges higher[TOKYO] Tokyo stocks opened lower on Thursday, extending falls in New York as the yen edged higher against the dollar, weighing on exporters. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

US ambassador to Japan to resign this monthTOKYO: US Ambassador to Japan William Hagerty is resigning this month after two years in office, the US Embassy said on Tuesday (Jul 16). ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Buzz off: breakthrough technique eradicates mosquitoesTOKYO: A breakthrough technique harnessing two methods to target disease-carrying mosquitoes was able to effectively eradicate buzzing biters in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Japan may take South Korea wartime labour dispute to International Court of Justice: ReportTOKYO: Japan is considering taking a dispute with South Korea over its compensation of wartime forced labourers to the International Court of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Japan manufacturers' mood hits 3-year low: Reuters Tankan survey[TOKYO] Japanese manufacturers' business confidence hit a three-year low in July, highlighting the fragility of the export-led economy as external demand slackens in the face of cooling global growth and trade friction, the Reuters Tankan showed. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »