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China’s foreign exchange reserves rose for a fifth straight month in March, with the increase exceeding expectations, as growing optimism about the prospects for a U.S.-China trade deal offset concerns over slowing economic growth. Chinese reserves, the world’s largest, rose by nearly $9 billion in March to $3.099 trillion, its highest since August last year, central bank data showed on Sunday.
The new North American free trade pact would modestly boost the US economy, especially auto parts production, but may curb vehicle assembly and limit consumer choice in cars, a hotly anticipated analysis from the US International Trade Commission showed.
New orders for US-made capital goods increased by the most in eight months in March, hitting their highest level on record and brightening the outlook for manufacturing and the economy.
The S&P 500 moved closer to its all-time high on Wednesday, while technology stocks nudged the Nasdaq to a record level, as investors took heart from a largely upbeat earnings season.
Tesla Inc deliveries fell 31 per cent in its first quarter as the electric car maker struggled with its first shipments of the Model 3 sedan to Europe and China due to longer transit times. But the Silicon Valley carmaker reaffirmed its guidance to deliver between 360,000 and 400,000 vehicles this year, and said US orders for its new Model 3 - which was recently made available for $35,000
South Korea’s three mobile carriers and top US telco Verizon Communications commercially launched 5G services on Wednesday, ahead of their initial schedules
China said on Friday it was raising anti-dumping duties on certain alloy-steel seamless tubes and pipes used at utilities and imported from the United States and the European Union.
As President Donald Trump’s trade wars drag on, and the global economy weakens, the US Federal Reserve is inching closer to its first interest rate cut in more than a decade.