韩国6月1-10日出口同比增长5.4%，进口增长11.5%。 ...

韩国海关：韩国6月1日至10日出口同比增长5.4%，进口同比增长11.5%。 ...

Export Performance - In May 2025, China's exports reached $316.1 billion, a year-on-year increase of 4.8%, down 3.3 percentage points from April's 8.1% growth[2][3] - The decline in export growth is attributed to high base effects, seasonal factors, and a slowdown in global trade demand, with the global manufacturing PMI dropping to 49.6[3][4] - High-tech products contributed more significantly to export growth compared to labor-intensive products, with high-tech exports growing by 4.9%[12][14] Import Trends - Imports in May 2025 totaled $212.88 billion, a year-on-year decrease of 3.4%, falling short of the expected 0.3% growth[2][16] - The decline in imports is influenced by weak domestic demand and falling prices of bulk commodities, with significant drops in iron ore (down 12.5%) and coal (down 38.7%) imports[16][18] - High-end manufacturing imports, such as automatic data processing equipment and rubber, showed strong growth, increasing by 47.6% and 40% respectively[16][18] Trade Balance - The trade surplus for May 2025 was $103.22 billion, an increase from the previous month's surplus of $96.18 billion[2] Market Outlook - Future export growth is expected to be supported by the release of previously accumulated orders following the Geneva talks, with a focus on diversifying markets in ASEAN, Africa, and the Gulf Cooperation Council[19][20] - Despite the current resilience in exports, long-term pressures remain due to high tariffs and ongoing trade tensions, particularly with the U.S.[20][24]

1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The Sino - US trade relationship shows signs of further easing, which is short - term positive for the market. However, domestic deflation pressure still exists, and imports and exports are weak under tariff impacts. The economic fundamentals are under pressure, limiting the upside space of the broader market. The market is in a policy vacuum period with limited incremental funds, making it difficult for large - cap blue - chip stocks to perform strongly. Small and medium - cap technology stocks with low valuations are expected to rise in the short term. For strategies, it is recommended to wait and see on the long - short single - side trades and try the arbitrage strategy of going long IC/IM and short IF/IH [2] 3. Summary by Related Catalogs 3.1 Futures Disk - IF main contract (2506) is at 3867.8, up 14.0; IF next main contract (2509) is at 3802.4, up 21.4. IH main contract (2506) is at 2676.6, up 3.8; IH next main contract (2509) is at 2641.4, up 6.0. IC main contract (2506) is at 5766.4, up 45.8; IC next main contract (2509) is at 5584.6, up 54.2. IM main contract (2506) is at 6167.8, up 73.6; IM next main contract (2509) is at 5912.6, up 77.2 [2] - IF - IH current - month contract spread is 1191.2, up 9.4; IC - IF current - month contract spread is 1898.6, up 28.6. IM - IC current - month contract spread is 401.4, up 26.6; IC - IH current - month contract spread is 3089.8, up 38.0. IM - IF current - month contract spread is 2300.0, up 55.2; IM - IH current - month contract spread is 3491.2, up 64.6 [2] - IF quarterly - current month is - 65.4, up 6.6; IF next - quarter - current month is - 97.8, up 11.6. IH quarterly - current month is - 35.2, up 2.0; IH next - quarter - current month is - 34, up 4.2. IC quarterly - current month is - 181.8, up 8.4; IC next - quarter - current month is - 306, up 11.6. IM quarterly - current month is - 255.2, up 4.2; IM next - quarter - current month is - 432.6, up 6.6 [2] 3.2 Futures Position - IF top 20 net position is - 28,228.00, up 443.0; IH top 20 net position is - 12,105.00, down 123.0. IC top 20 net position is - 7,964.00, down 1837.0; IM top 20 net position is - 29,143.00, up 174.0 [2] 3.3 Spot Price - CSI 300 is at 3885.25, up 11.3; IF main contract basis is - 17.4, up 1.1. SSE 50 is at 2686.83, down 2.0; IH main contract basis is - 10.2, up 5.0. CSI 500 is at 5805.65, up 43.6; IC main contract basis is - 39.3, down 2.6. CSI 1000 is at 6218.96, up 66.1; IM main contract basis is - 51.2, up 1.5 [2] 3.4 Market Sentiment - A - share trading volume (daily, billion yuan) is 13,126.55, up 1354.42; margin trading balance (previous trading day, billion yuan) is 18,085.96, down 30.84. North - bound trading volume (previous trading day, billion yuan) is 1249.86, down 171.83; reverse repurchase (maturity, operation volume, billion yuan) is 0.0, up 1738.0 [2] - Main funds (yesterday, today, billion yuan) are + 3.93, down 265.05. MLF data is not provided. The proportion of rising stocks (daily, %) is 76.13, up 28.09; Shibor (daily, %) is 1.378, down 0.033 [2] - IO at - the - money call option closing price (2506) is 23.00, up 1.60; IO at - the - money call option implied volatility (%) is 12.06, down 0.43. IO at - the - money put option closing price (2506) is 52.40, down 10.20; IO at - the - money put option implied volatility (%) is 11.92, down 0.05 [2] - CSI 300 index 20 - day volatility (%) is 9.24, up 0.02; trading volume PCR (%) (6.6) is 54.89, down 2.38; position PCR (%) (6.6) is 67.17, down 0.13 [2] 3.5 Wind Market Strength - Weakness Analysis - All A - shares score is 7.30, up 2.50; technical aspect score is 7.60, up 2.80; capital aspect score is 7.00, up 2.20 [2] 3.6 Industry News - In May, China's CPI decreased by 0.1% year - on - year (same as the previous value) and 0.2% month - on - month (previous value was a 0.1% increase). PPI decreased by 3.3% year - on - year (previous value was a 2.7% decrease) and 0.4% month - on - month (same as the previous value) [2] - In the first five months of 2025, China's total goods trade import and export value was 17.94 trillion yuan, a 2.5% year - on - year increase. Exports were 10.67 trillion yuan, a 7.2% year - on - year increase; imports were 7.27 trillion yuan, a 3.8% year - on - year decrease. In May, the total goods trade import and export value was 3.81 trillion yuan, a 2.7% year - on - year increase. Exports were 2.28 trillion yuan, a 6.3% year - on - year increase; imports were 1.53 trillion yuan, a 2.1% year - on - year decrease [2] - A - share major indices generally closed higher. The three major indices opened and rose in the morning and maintained high levels in the afternoon. The Shanghai Composite Index once reached 3400 points. Small and medium - cap stocks outperformed large - cap blue - chip stocks. The Shanghai Composite Index rose 0.43%, the Shenzhen Component Index rose 0.65%, and the ChiNext Index rose 1.07%. Trading volume in the Shanghai and Shenzhen stock markets increased. Most industry sectors rose, with the pharmaceutical and biological sector strengthening significantly, and only the food and beverage sector falling against the market [2] 3.7 Key Data to Watch - China's May financial data is to be determined on 6/11 at 20:30. US May CPI and core CPI will be released on 6/11 at 20:30. US May PPI, core PPI and the number of initial jobless claims for the week ending June 7 will be released on 6/12 at 20:30 [3]

韩国海关：韩国5月前20天出口同比下跌2.4%，进口同比下跌2.5%。 ...

据杭州海关统计，今年前4个月，浙江对拉美进出口1814.7亿元，增长4.8%；出口1450.6亿元，增长 21.5%。进出口总值占全国同期对拉美进出口总值的15.6%，出口占全国同期对拉美出口总值的22.3%， 规模均居全国首位，创历史同期新高。 ...

Core Insights - Shaanxi's total import and export trade value reached 1570.3 billion yuan from January to April, with a year-on-year growth of 3.1%, surpassing the national average by 0.7% [1] - Exports amounted to 1094.8 billion yuan, reflecting a year-on-year increase of 6.3%, while the trade surplus stood at 619.3 billion yuan [1] Trade Composition - General trade showed growth, with a total value of 644.8 billion yuan, up 17.5% year-on-year, accounting for 41.1% of the province's total trade [1] - Processing trade saw a decline, totaling 706.5 billion yuan, down 4.2%, representing 45% of the total [1] - Bonded logistics trade also decreased, with a total of 180.8 billion yuan, down 10.5%, making up 11.5% of the total [1] Regional Trade Performance - Trade with ASEAN, Taiwan, EU, and Hong Kong experienced significant growth, with imports and exports to ASEAN reaching 274.2 billion yuan (up 20.5%), Taiwan at 193.1 billion yuan (up 65.4%), EU at 182.1 billion yuan (up 21.2%), and Hong Kong at 90.6 billion yuan (up 20.9%) [1] Enterprise Performance - Foreign-invested enterprises showed robust export growth, with a total of 897.5 billion yuan, up 6.4%, accounting for 57.2% of the province's total trade [1] - State-owned enterprises' imports surged by 32.6% to 114.5 billion yuan, representing 7.3% of the total [1] - Private enterprises experienced a decline in trade, with a total of 553.1 billion yuan, down 6.2%, making up 35.2% of the total [1] Product Export and Import Trends - Mechanical and electrical products exports increased slightly to 935.9 billion yuan, up 8.8%, constituting 85.5% of total exports [2] - Key export items included integrated circuits at 394.9 billion yuan (up 4.9%), automobiles at 200.8 billion yuan (up 53.7%), and automatic data processing equipment at 95.8 billion yuan (up 39.3%) [2] - Mechanical and electrical products accounted for nearly 70% of total imports, with imports totaling 321 billion yuan, down 9.4% [2] - Notable import items included integrated circuits at 218.5 billion yuan (down 16.7%) and automatic data processing equipment at 14.7 billion yuan (up 10%) [2]

从商品结构看，前4个月，我省机电产品出口3270.7亿元，增长11.6%，占出口总值的48.2%。其中，汽 车零配件460.7亿元，增长3.4%；游戏机188.7亿元，增长102.4%；汽车173.8亿元，增长10.5%；电工器 材162.4亿元，增长9.7%。同期，劳密产品出口1206.7亿元，增长3.3%，占17.8%；农产品出口530.7亿 元，增长5.1%，占7.8%。（记者 孙源泽） 从贸易方式看，前4个月，我省一般贸易进出口7386.4亿元，增长6%，占65.5%。同期，保税物流进出 口1961.8亿元，增长11.4%，占17.4%；加工贸易进出口1586.4亿元，增长7.6%，占14.1%。 从贸易主体看，前4个月，我省民营企业进出口8604.2亿元，增长8.5%，占76.3%，提升0.7个百分点。 同期，外商投资企业进出口1621.5亿元，下降1.7%，占14.4%；国有企业进出口1048.8亿元，增长 15.9%，占9.3%。 从主要市场看，前4个月，我省对东盟、欧盟、美国、韩国、日本进出口保持增长。对东盟进出口 2255.9亿元，增长3.7%；欧盟1029.6亿元，增长6.6%；美国954 ...

韩国5月1日至10日进口同比下降15.9%，出口同比下降23.8%。 ...

Export Data - In April 2025, China's exports reached $315.69 billion, a year-on-year increase of 8.1%[1] - Imports totaled $219.51 billion, showing a slight decline of 0.2% year-on-year[1] - The trade surplus narrowed to $96.18 billion, which is a 33.61% increase compared to the previous year[1] Export Performance - April's export growth rate decreased from 12.4% in March to 8.1%, influenced by a low base from the previous year[3] - Exports to the U.S. fell by 21.03%, the lowest since August 2023, while exports to ASEAN increased by 20.8%[3] - High-value products like medical instruments and machinery showed strong performance, with growth rates of 8.41% and 17.02% respectively[3] Import Trends - The decline in imports was less severe, with a notable structural differentiation in imported goods[3] - Imports of primary products like soybeans and natural gas decreased by 14.6% and 9.2% respectively, indicating uneven domestic demand recovery[3] - Mechanical and electrical products saw a 5.7% increase in imports, reflecting a rebound in domestic manufacturing needs[3] Market Outlook - Global economic slowdown, particularly in developed economies, is expected to impact China's export orders and growth rates[4] - The manufacturing PMI dropped to 49.1%, indicating contraction in the manufacturing sector[4] - The ongoing high tariffs imposed by the U.S. on Chinese goods continue to exert downward pressure on exports[4]