Group 1 - The Algerian oil and gas industry, a key pillar of the economy, experienced a year-on-year production decline of 3.3% in the first quarter of 2025 [1] - The production of liquefied natural gas, a critical product for Algeria's oil and gas sector, saw a significant drop of 17.5% in the first quarter of 2025 [1] - The refined oil production, after showing growth in the first and third quarters of 2024, began to decline by 2.2% in the first quarter of 2025 [1] Group 2 - Other industrial sectors also faced challenges, with mining and quarrying production decreasing by 3.7% in the first quarter of 2025 after a growth trend in 2023 and 2024 [1] - The steel, metals, machinery, electrical, and electronics industries experienced a dramatic overall decline of 41.7% in the first quarter of 2025, following a 25.1% increase in the fourth quarter of 2024 [1] - The chemical, food, and textile industries reported declines of 11.3%, 10.2%, and 4.9% respectively [1] Group 3 - Despite the overall industrial production downturn, the building materials sector showed a slight growth of 1.5% [1] - The wood and leather industries experienced significant growth, with increases of 19.6% and 13.1% respectively [1]

Core Insights - The chairman of the Egyptian Heavy Industries Export Council, Sherif El-Sayyad, reported that Egypt's heavy industrial exports reached $3.1 billion in the first half of 2025, marking a 15% increase compared to the same period in 2024, which is the highest six-month export figure on record for the industry [1] Export Performance - In June, the export value increased by 7% year-on-year, reaching $475 million [1] - Significant exports included cables, automotive parts, electrical and electronic products, home appliances, and transportation equipment, with notable growth in exports to European countries [1]

Group 1 - The Bank Negara Malaysia announced a 25 basis points cut in the overnight policy rate (OPR) from 3% to 2.75%, marking the first rate adjustment in two years and the first rate cut in five years [1] - The central bank highlighted that global economic growth continues, supported by consumer spending and some degree of consumer credit, despite uncertainties from global tariffs and geopolitical tensions [1][3] - The Malaysian economy is expected to grow in the second quarter, driven by domestic demand and export growth, with supportive employment and wage growth in domestic-oriented sectors [3] Group 2 - Inflation rates in Malaysia for the first five months of the year averaged 1.4% for overall inflation and 1.9% for core inflation, with expectations for moderate inflation through 2025 [3] - The Malaysian Ringgit's performance will be primarily driven by external factors, with the central bank indicating that while the domestic economic foundation is strong, external uncertainties may impact growth prospects [4] - The Malaysian stock market saw a slight increase of 0.06% on a recent Wednesday, but has declined by 6.89% year-to-date, while the Ringgit has appreciated nearly 5% against the US dollar since the beginning of the year [4]

Group 1 - The Bank of Korea has lowered the benchmark interest rate by 25 basis points to 2.50% to mitigate the downside risks to economic growth [1] - Due to uncertainties surrounding tariffs, South Korea's exports are expected to continue slowing, significantly impacting economic growth [1] - A media survey predicts that South Korea's exports in May may decline by 4.9% year-on-year, following a 3.7% increase in April [1] Group 2 - A survey by Mono indicates that if the current U.S. tariff policy continues, South Korean exporters expect a nearly 5% decline in exports to the U.S. this year [2] - Among the top 1,000 exporting companies, the electrical and electronics sector anticipates the largest decline of 8.3%, followed by the automotive sector at 7.9% [2] - The Bank of Korea has revised its economic growth forecast for 2025 down to 0.8%, with a projected growth rate of 1.6% for 2026 [2] Group 3 - A Reuters survey indicates that the Bank of Korea is expected to lower the benchmark interest rate to 2.00% by the end of Q4 2025, down from a previous estimate of 2.25% [3] - The Bank of Korea forecasts the inflation rate in South Korea to reach 1.9% in 2025 and 1.8% in 2026, with inflation expected to stabilize around 2% [3] - Future inflation trends will depend on economic conditions, exchange rates, and oil prices, with a need to remain vigilant against rising household debt and increased volatility in the foreign exchange market [3]

Core Viewpoint - South Korean exporters anticipate a 4.9% decline in exports to the United States this year if current tariff policies remain in place [1] Industry Summary - Among the top 1,000 exporting companies, 150 firms expect an average export reduction of 4.9% to the U.S. by 2025 [1] - The electrical and electronics sector is projected to experience the largest decline at 8.3%, followed by the automotive and auto parts industry at 7.9%, petrochemicals and petroleum products at 7.2%, and general machinery at 6.4% [1] - In contrast, the shipbuilding and pharmaceutical sectors expect growth in exports to the U.S., with increases of 10% and 1.6% respectively, despite ongoing tariff concerns [1] Company Sentiment - 81.3% of surveyed companies believe that tariff measures will negatively impact businesses in both countries [1] - Additionally, 14.7% of respondents feel that while the tariffs will adversely affect South Korean companies, they may benefit U.S. firms [1]