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Global Chip LOF: Trading in this fund will be suspended from the opening of the market on the afternoon of June 22, 2026 until the market closes on the same day.On June 22, Kim Yong-beom, the South Korean presidential policy chief, stated that policymakers need to consider how the benefits of the semiconductor industry boom will spread throughout the entire economic system, warning that historically, excess liquidity has often ended up in the real estate market. Kim pointed out that driven by the global artificial intelligence boom, semiconductor industry profits have soared, and South Koreas nominal economic growth rate has reached its fastest pace in over two decades. Although macroeconomic indicators show the economy has entered an exceptionally strong growth phase, many households and small and medium-sized enterprises have not yet truly felt the benefits. Kim noted that in the first quarter, South Koreas real GDP growth was 3.8%, while real gross domestic income growth reached 13.2%, a significant gap indicating that the rise in chip prices has boosted South Koreas purchasing power far more than the growth in actual output. He stated that most of the resulting income growth has not yet been reflected in the broader economy, but may gradually appear in the coming quarters through bonuses, wage increases, and the repatriation of export revenue, ultimately potentially supporting luxury goods consumption and real estate demand. "Looking back at history, this type of capital has flowed into the real estate market many times, and its difficult to assume this cycle will be different," Kim added.June 22 – Hong Kong Chief Executive John Lee led a delegation from the Hong Kong Special Administrative Region (HKSAR) government to Fujian Province today (June 22) to attend the Fujian-Hong Kong High-Level Meeting and the Fifth Fujian-Hong Kong Cooperation Conference. Lee stated that during the visit, several cooperation projects will be signed between Fujian and Hong Kong. The HKSAR delegation will also conduct on-site research, visiting technology companies and cultural projects to learn about Fujians latest developments in areas such as the digital economy. He expects the visit to be fruitful and to open up broader prospects for Fujian-Hong Kong cooperation.Australian Agriculture Minister: Tests have confirmed the presence of the H5 avian influenza virus in a second bird found in Western Australia.June 22 - The State Council Information Office will hold a press conference at 3:00 PM on Tuesday, June 23, 2026. Vice Minister of Commerce Sheng Qiuping, along with relevant officials from the Ministry of Industry and Information Technology, the Ministry of Culture and Tourism, Hangzhou, and Chengdu, will introduce the relevant situation regarding expanding automobile consumption across the entire supply chain and answer questions from reporters.

Panasonic Anticipates A Rise in Global Automobile Production This Fiscal Year

Aria Thomas

Jun 01, 2022 14:49

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Panasonic (OTC:PCRFY) Holdings Corp, which manufactures batteries for Tesla (NASDAQ:TSLA) and other automakers, stated on Wednesday that it anticipates a recovery in global vehicle production this fiscal year, but that the two-year semiconductor shortage will persist.


Masashi Nagayasu, CEO of the Japanese conglomerate's automotive business, which manufactures in-car infotainment systems and other auto components, stated, "We will operate our business in consideration of the risks of fluctuations in vehicle manufacturing."


Nagayasu stated on the first day of Panasonic's annual investor event that the company has no plans to produce automobiles.


Panasonic, whose automotive division accounts for approximately 14 percent of its entire revenue, anticipates a 19 percent increase in sales for the fiscal year ending in March 2023. It anticipates an operational profit increase of roughly 17 percent.


Due to component shortages caused by COVID-19 lockdowns in China and higher commodity prices as a result of Russia's invasion of Ukraine, the company stated last month that it did not anticipate a profit increase for this fiscal year.


(This item corrects the firm name in paragraph 1 to Panasonic Holdings Corp from Panasonic Corp, and the sales growth forecast in paragraph 4 to 19 percent from 10 percent, and the operating profit forecast to nearly 17 percent from 15 percent decline.)


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