Malaysia trade surplus narrows in February
KUALA LUMPUR: Malaysia's trade surplus fell 14.8 percent month-on-month in February as exports dropped because of lower demand for electronics products and palm oil.
Preliminary data released by the Ministry of International Trade and Industry showed exports fell to 24.2 billion ringgit (US$6.4 billion), down 12.0 percent on January, while imports dropped 11.5 percent to 20.4 billion ringgit.
That gave a surplus of 3.8 billion ringgit versus January's 4.4 billion and compared with a 6.2 billion ringgit surplus in February 2001.
Lower exports were due mainly to a 10 percent fall in exports of electrical and electronic products, which account for nearly 60 percent of the total, as well as a 14.9 percent drop in liquefied natural gas and 26.4 percent fall in palm oil shipments, the ministry said in a statement. -Reuters
Japan 2001/02 vehicle sales slide 2.6 percent
TOKYO : Japanese new vehicle demand fell 2.6 percent in the business year just ended as consumer confidence stalled amid a sputtering economy, and prospects for the new year do not look much better.
Overall sales declined to 5.82 million units for the year to March 31, 2002, while ordinary vehicle sales -- excluding minivehicles -- dropped 3.4 percent, according to data from the Japan Automobile Dealers Association and Japan Mini Vehicle Association.
Sales of 660cc minivehicles, which account for around 30 percent of the market, were down for the second year running, falling by 0.9 percent. -Reuters
Thai Feb business index up for 5th straight month
BANGKOK: Thai business confidence rose for the fifth straight month in February, reinforcing expectations of more robust domestic growth this year.
The Bank of Thailand (BOT) said in a statement on Monday its business confidence index hit a 14-month high, rising to 49.9 in February, up from 49.2 in January and compared with 41.7 in September.
An index figure under 50 generally represents weak business confidence, while one above 50 shows improved sentiment.
The hijack attacks on the World Trade Center towers in New York in September plunged the business confidence index for that month to its lowest level for 32 months. -Reuters
S.Korea's Mar trade surplus rise ups rate hike risk
SEOUL: South Korean exports fell for a 13th consecutive month in March, the Commerce Ministry said on Monday, but the smallest decline in a year strengthened hopes for a turnaround as early as April.
South Korea, one of the few bright spots in Asia because of resilient domestic consumption, is poised to post faster growth this year aided by a budding recovery in exports. That in turn is mainly due to a faster-than-expected rebound in the U.S. economy.
Preliminary data showed the trade balance widened to US$1.4 billion in March from a revised $637 million surplus in February and $1.17 billion a year ago as a fall in exports slowed.
The figures, the latest in a series of more upbeat economic news, pushed domestic bond prices lower as investors fretted that an export revival on top of already strong domestic demand would pile on the pressure for an interest rate rise this week.-Reuters