Business Intelligence Monitor 220311

(Introduction)

[Markets]

•   Global: Global shares fall on inflation, central bank moves

•   US: China Stocks in U.S. Suffer Worst Selloff Since October 2008

•   Eurozone: Eurozone government bonds sell off after ECB signals early stimulus withdrawal

•   Natural gas: European Gas Drops on Profit Taking, Milder Weather Forecasts

•   Metals: Aluminium claws back losses as traders grapple with Russia risk

•   Grains: CBOT wheat plummets 9.5%; corn, soybeans rise on strong exports

•   한국: 코스피, 기관 매수에 2.21% 상승…유가 하락에 나흘만에 반등

•   한국: 공약 수혜 건설·원전 관련주 급등

•   한국: "갤S22 논란 직격탄 맞았다"…1주일새 10% 폭락한 곳이

[Indicators]

•   US Q4 Household net worth: U.S. Household Net Worth Jumps to a Record on Equities, Housing

•   US Feb. CPI: Inflation Reached 7.9% in February; Consumer Prices Are the Highest in 40 Years

※   Surging energy costs related to Russian invasion of Ukraine are pushing prices higher

※   WSJ: February Inflation Was Broader Than Gas Prices

※   WSJ: Don’t Blame Putin (Yet) for High Inflation

•   US Feb. Fiscal account: Federal Budget Deficit Narrowed in February

•   US Feb. Construction employment: February Construction Jobs Reach Near Pre-Pandemic Levels as Wages Post Steepest Rise Since 1982

•   US Feb. Rents: Rents Rise Most in 30 Years, Signaling More Pain for Americans

•   US Weekly Jobless claims: U.S. Jobless Claims Edged Higher Last Week

•   Eurozone Benchmark rate: ECB scales back stimulus plan as Ukraine war drives up inflation expectations

※   Bond markets view moves as hawkish while Lagarde calls Russia’s invasion a ‘major shock’ to eurozone economy

※   ECB: Monetary policy decisions

•   Japan Feb. PPI: Japan wholesale prices rise at record annual pace as fuel soars

•   한국 2월 가계대출: 은행 가계대출 석달연속 줄었다…사상 첫 석달 연속 감소

•   한국 주간 아파트 가격(부동산원): [아파트 시황] 부동산 거래 뚝…서울 집값 하락폭 확대

[Trackers]

•   Johns Hopkins University: COVID-19 Global Cases & Deaths

•   Worldometer: COVID Live Update

•   Bloomberg: Covid-19 Vaccine Tracker

•   NYT: Covid-19 Vaccine Tracker: Latest Updates

•   FT: Pandemic crisis: Global economic impact tracker

•   FT: Inflation tracker: the latest figures as countries grapple with rising prices

•   CNN: Tracking America's recovery

•   Bloomberg: Global PMI Tracker

•   Bloomberg: The Covid Resilience Ranking

[News]

•   WSJ: Russia Ramps Up Ukraine Attacks in Effort to Seize Strategically Key Port City

※   Moscow launches a fresh assault on Mariupol, a day after it bombed a maternity hospital there, as U.S. calls for a war crimes investigation

•   WSJ: Russia-Ukraine Talks Hit Impasse in Turkey

※   High-level meeting fails to reach cease-fire, but suggests possible shift in Russian strategy toward diplomacy to its achieve goals

•   WSJ: Economic Blacklist of Russia Marks New Blow for Globalization

•   WSJ: War in Ukraine Fans the Flames of Global Inflation

•   WSJ: Russian Claims of Biological Weapons Research in Ukraine Stir Fears of Wider Risk

•   WSJ: U.S. Banned Russian Oil. Will Suspension of Gasoline Tax Be Next?

•   WSJ: U.S., Allies Look at Sending Soviet-Designed Air-Defense Systems to Ukraine

•   WSJ: Ukraine War Pushes Biden Toward Venezuela, Iran and Saudi Arabia in Oil Hunt

•   WSJ: As Gasoline Prices Surge Nationwide, $5 Is a Bargain Around San Francisco

•   WSJ: U.S. Travel Mask Mandate Extended by One Month to April 18

•   WSJ: North Korea Tested Components of New ICBM in February, March Launches, U.S. Officials Say

※   Missile system, if fully developed, could hit U.S. territories or allies

•   WSJ: Narendra Modi’s BJP Wins Big in Indian Elections

•   WSJ: Europe to Weigh Emergency Measures to Limit Electricity Prices

•   WSJ: Senate Leaders Press for Quick Vote on $1.5 Trillion Spending Package

•   WSJ: Biden’s Digital Dollar Could Rile Banks and Crypto

•   WSJ: Nickel Market Freeze Extended to Sort Out Big Trading Loss Amid Ukraine War

•   WSJ: Rivian Automotive Curtails 2022 Output Citing Supply Chain Disruptions

•   WSJ: Amazon’s Washington Strategy Wins Few New Friends in the Biden Era

•   WSJ: New Cola War: Brands Exit Russia Amid Ukraine Invasion

•   NYT: As War Rages, A Struggle to Balance Energy Crunch and Climate Crisis

•   NYT: What a Power Cutoff Could Mean for Chernobyl’s Nuclear Waste

•   WP: Russia considers nationalizing Western businesses that have closed over Ukraine invasion

•   WP: Commercial satellites test the rules of war in Russia-Ukraine conflict

•   FT: UAE energy minister signals commitment to Opec+

•   FT: Russia has destroyed $100bn of Ukraine’s economic assets, says Zelensky adviser

•   FT: What neutrality would mean for Ukraine, Russia and the war

•   FT: Military briefing: how the west started the biggest arms push since the cold war

•   FT: Putin seeks ‘legal solutions’ to seize assets of companies exiting Russia

•   FT: Macron plans second push to reform French pensions if re-elected

•   FT: Vaccines and Omicron mean Covid now less deadly than flu in England

•   FT: Ukraine war could cause a ‘renewed downturn’ in UK, warn economists

•   FT: Biden’s new energy strategy: Drill, baby, drill

•   FT: The rising costs of China’s friendship with Russia

•   FT: Goldman and JPMorgan pull out of Russia as Wall St joins exodus

•   FT: Is the nickel in a nickel worth more than the nickel itself?

•   FT: Stay or go? Western consumer brands wrestle with Russian dilemma

•   FT: VW chief warns economic damage from war risks being worse than pandemic

•   FT: Toshiba’s biggest shareholder comes out against plan to split company in two

•   Bloomberg: Congress Pushes for Russia Tariff Increases, End to Normal Trade

•   Bloomberg: Russia Bans Export of 200 Products After Suffering Sanctions Hit

•   Bloomberg: Russia Says Debt Payments Abroad Hinge on Unfreezing of Reserves

•   Bloomberg: IMF No Longer Sees Russia Debt Default as Improbable Event

•   Bloomberg: World Economy Can Avoid 1970s Rerun, But Not Without Some Hurt

•   Bloomberg: Russia Uranium Curbs Mulled by Biden Threaten to Roil Market

•   Bloomberg: Biden Needs to Protect Russian Internet Access, Groups Warn

•   Bloomberg: U.S.’s Raimondo Warns Chinese Firms on Evading Russia Sanctions

•   Bloomberg: Yellen Says China Moves Aren’t Diluting Russia Sanctions Sting

•   Bloomberg: Von Der Leyen Eyes Ending EU’s Russian Energy Reliance by 2027

•   Bloomberg: Former ECB Officials Clash on Whether Surprise Move Was Needed

•   Bloomberg: Europe’s Plan to Cut Russian Fuel Starts a Global Gas Fight

•   Bloomberg: Ukraine War Adds Fresh Price, Supply Pressure on Asian Factories

•   Bloomberg: Why Is China Saying the U.S. Wants an Indo-Pacific NATO?

•   Bloomberg: China Puts Tough Reforms on Hold to Focus On Growth: NPC Roundup

•   Bloomberg: Venezuela Open to New Talks Amid Move to Improve U.S. Relations

•   Bloomberg: Oil Market’s Big Question: How Much Russian Crude Will Asia Buy?

•   Bloomberg: War in Ukraine Puts Shipping’s Tentative Recovery in Jeopardy

•   Bloomberg: Rising Profit Outlook Is No Match for Macro Angst: Tech Watch

•   Bloomberg: Xiaomi, Oppo in Talks With India Firms to Make Phones for Export

•   Bloomberg: Seeing the Future of Energy Through a Coal Company’s Solar Strategy

•   Bloomberg: Top U.S. Nuclear Power Provider ‘Fully’ Backs Russia Sanctions

•   Reuters: IMF chief Georgieva says Ukraine war to lower global growth forecast

※   At the time, it projected global economic growth would reach 4.4% this year, a downgrade of 0.5 percentage point.

•   Reuters: Global central banks stay inflation-focused, see growth continuing despite war

•   Reuters: Russia's inflation seen at 20%, GDP down 8% in 2022, c.bank survey shows

•   Reuters: Ukraine membership of EU is "not for tomorrow" - French minister

•   Reuters: Iraq oil minister, OPEC's Barkindo say OPEC+ keen to balance oil market

•   Reuters: China's local symptomatic COVID cases nearly double; curbs start to bite

•   Reuters: Brazilians protest against Bolsonaro's environmental, indigenous policies

•   Reuters: GE sees risks from war in Ukraine, but retains 2022 earnings forecast

•   Reuters: Explainer: How the U.S. could tighten sanctions on Russia

•   Reuters: Analysis: Euro's pain is dollar's gain as Ukraine war roils markets

•   Reuters: Analysis: Oil shock is coming, but U.S. may have already paid for it

•   Reuters: Analysis: You still need us, UAE tells U.S. as it flexes Gulf oil muscles

•   Reuters: Analysis: Russian risk recalibration a wake-up call for investors

•   Reuters: Analysis: Fallout of Ukraine war exposes Turkey's vulnerable economy

•   AP: Russia built an economy like a fortress but the pain is real

•   SCMP: Why Beijing thinks Taiwan is different from Ukraine

•   SCMP: China GDP: 2022 economic growth target is within reach, ‘but it will come at a cost’

•   SCMP: Ukraine invasion: how much Russian oil will China soak up after the US, Britain announce embargo?

•   SCMP: Taiwan says Chinese warplane crashed in disputed South China Sea

•   Nikkei Asia: New partner? Indo-Pacific leaders express hope for Yoon

•   Nikkei Asia: After Ukraine, Japan reverts to old line on Russian-controlled islands

•   Nikkei Asia: U.S. will not ask Japan to limit Russian oil imports: State Dept adviser

•   Economic Times: Morgan Stanley flags stagflation risk, cuts FY23 GDP growth forecast by 0.50 pc on Ukraine tensions

•   Economic Times: Commodities surge could pressure RBI to normalise more quickly: S&P

•   Economic Times: India to see 7.8% GDP growth next fiscal; risks to growth tilted to the downside: CRISIL

•   매경(P1): 尹 "자유민주주의·시장경제 바로 세울것"

•   매경: 경제분야 장관에 선대본 전문가들 대거 물망에 올라

•   매경: [단독] 日 기시다 총리와 오늘 통화…한일관계 개선 첫단추 끼우나

•   매경: 차기 한은 총재에 쏠린 눈…국제통이냐 내부출신이냐

•   매경: 골드만의 경고 "韓 올 성장률 2.8% 그칠 것"

•   매경: 바이든, 또 삼성 불러 회의…"텍사스에 공장 건설 약속"

•   매경: "때가 어느땐데"…안팔리는 채권

•   매경: 美 반도체株 바닥 다졌나…"러 제재 영향 적고 서버수요 늘어"

•   매경: '신속항원검사 양성'만으로도 확진 판정

•   한경(P1): 포스코, 12년 만에 '兆 단위' 호주 광산 개발 재개

•   한경: "규제 완화·주식 양도세 폐지…증시에 활력될 것"

•   한경: 금융당국 수장 바뀌나…1년 안된 고승범·정은보, 정권 교체에 거취 주목

•   한경: 기재부, 차기정부 협의팀 구성

•   한경: 기업들 "잠재력 꺼지는 한국…새 정부 역할은 '성장 리빌딩'"

•   한경: "삼성전기, IT·車전장 부문이 성장축"

•   한경: 美 소형 원자로 검증…국내 벤처가 따냈다

•   서경: 애플 언팩에…"LG이노텍, 올해 최대 실적"

•   조선: 주간 사망자 수 1252명, 세계 9번째

•   조선: 이상하네, 친환경 바이든 정부서 석탄의 부활

•   조선비즈: 삼성전자 임직원 11만명 넘었다… “반도체 인재 모십니다”

•   조선비즈: 무역협회 “한·미 FTA 10년, 무역 확대… 공급망 강화”

•   조선비즈: [윤석열 시대] 금융정책 품는 재경부? 예산까지 관할 재경원?…기재부 재편 방향은

•   한국(P1): "계절독감으로 가는 중간 단계"… 오미크론, 격리 없이 치료받는다

•   세계(P1): 주한미군 사령관 “北 잇단 미사일 발사…핵 능력 강화에 염두”

•   한겨레: 중저가폰이라는데…새 ‘아이폰SE’ 저렴하지 않네

•   더벨: 메타버스 옷입은 LG, 파트너사 '애플' 기대 부응할까

•   파이낸셜뉴스: '신용도 하락' 삼척블루파워, 자금조달 빨간불

•   디지털타임스: 파운드리 시장 또 20% 커질듯… 원자재 부족 이슈가 최대 변수

※   IC Insights: 2022 to Mark the Third Year in a Row of ≥20% Growth for the Foundry Market

•   이데일리(P1): "세 차례 금리인상, 성장·물가 영향 제한"…한은, 추가인상 예고

※   한국은행: 「통화신용정책보고서」(2022년 3월)

•   연합: 오후 9시까지 전국서 25만8539명 확진…어제보다 4만6652명↓

•   연합: 불확실성 커지는 경영 환경…주요 기업들 신사업으로 돌파구

•   연합: 아이피버스, 친환경에너지 전문기업 제이씨에너지 인수

•   뉴시스: 서울 아파트 전세→매매 갈아타기 비용 7억원 육박

•   뉴시스: IBK證 "두산, 재무구조 변화 이어 사업 변화로 긍정적"

•   더구루: 삼성전자·UMC, 파운드리 추가 계약…가격 인상

•   전자신문(P1): “1~2주 내 코로나 정점”

•   전자신문: 배터리 원소재 가격 '폭등'…전기차 생산비 상승 '비상등'

•   전자신문: [뉴스줌인] 산업계, 美 FDPR 수출 통제 대응 촉각

•   로봇신문: 메타팩토리, 인간-로봇-디지털 기술 협업을 통한 제조 혁신 전략은?

•   로봇신문: [iREX 2022] 중국 두봇, 2세대 스카라 협동 로봇 출시

•   로봇신문: 레인보우 로보틱스, 18억원 규모 협동 로봇 공급 계약 체결

•   물류신문: 윤석열 대통령 당선인, 물류 정책을 읽다

•   물류신문: Part 1. 윤석열 대통령 당선인의 주요 물류 공약은…

•   물류신문: Part 2. 윤석열 당선인의 지역별 주요 교통·물류 정책은?

[Opinions]

•   Project Syndicate(Barry Eichengreen): The Monetary Consequences of Vladimir Putin

•   Project Syndicate(Stephen S. Roach): How China Can End the War in Ukraine

•   Project Syndicate(Joseph E. Stiglitz, Mark Weisbrot): The IMF's Agreement with Argentina Could Be a Game Changer

•   Project Syndicate(Nancy Qian): Will Putin's War Slow China's Growth?

•   FT(Editorial Board): How Russia’s war in Ukraine might end

•   FT(Gillian Tett): War in Ukraine could accelerate the growth of the crypto sector

•   FT(Martin Sandbu): Europe must immediately join Washington’s energy embargo

•   FT(Robin Harding): Toppling the dollar as reserve currency risks harmful fragmentation

•   FT(Richard Waters): Big Tech raises its bets on chips

•   FT(John Thornhill): Russia’s digital iron curtain will fail

•   FT(Cat Rutter Pooley): The corporate retreat from Russia is going to be messy

•   FT(Anjana Ahuja): When do we declare the Covid pandemic over?

•   FT(Lex): Russian gas: ending Europe’s dependence will not be as costly as maintaining it

•   WSJ(Editorial Board): NATO’s Polish MiG-29 Fiasco

•   WSJ(Editorial Board): Hostages for Oil From Venezuela?

•   WSJ(Robert B. Zoellick): China’s Smart Move Would Be to Push Putin to Peace

•   WSJ(Holman W. Jenkins, Jr.): Memo to NATO: Secure Lviv From Russian Aggression

•   WSJ(Walter Russell Mead): How to Deal With the Unappeasable Putin

•   WSJ(Karl Rove): Republicans Stand Up for Ukraine

•   WSJ(Michael O’Hanlon): Putin Is Angry, but He Isn’t Mad

•   WSJ(Jay Newman): If Putin Owes You Money, Good Luck Collecting It

•   NYT(Spencer Bokat-Lindell): Putin’s Getting Sanctioned, but Russia’s Getting Canceled

•   NYT(Mikhail Zygar): How Vladimir Putin Lost Interest in the Present

•   WP(Editorial Board): Another energy crisis is here. The U.S. must be realistic about what’s next.

•   WP(Henry Olsen): South Korea’s hawkish new president will be good for the Western alliance

•   WP(Jennifer Rubin): Workers quitting rotten jobs is a good thing

•   WP(Paul Waldman): How Ukraine and high gas prices could take us backward on climate change

•   WP(James Hohmann): Why regime change in Moscow is not the goal

•   WP(Steven L. Hall): Putin doesn’t fear a coup by oligarchs. But he should fear his fellow spies.

•   Bloomberg(Daniel Moss): The Rate-Hike Bidding War Can End Now With Russia's Invasion, Oil Surge

•   Bloomberg(John Authers): Markets May Bounce Like Tigger, But Resist Timing Ukraine, Inflation Volatility

•   Bloomberg(Marcus Ashworth): ECB Stays the Course on Inflation as Hawks Prevail

•   Bloomberg(Karl W. Smith): Ukraine War Should Cause Fed to Slow Down Its Rate Hikes

•   Bloomberg(Hal Brands): China Placed a Losing Bet on Vladimir Putin

•   Bloomberg(Andreas Kluth): Russia Ukraine War: Will Russians Choose to Believe Truth or Putin's Lies?

•   Bloomberg(Faye Flam): What Comes After Omicron? No One Knows

•   Bloomberg(Jonathan Levin): CPI Report: Elevated Inflation Settles In for the Long Run

•   Fox News(Darrell Issa): Biden a bystander on Ukraine, energy and inflation crises

•   Fox News(James Jay Carafano, Stefano Graziosi): In Ukrainian crisis, China is part of problem. Does Europe get it?

•   Reuters(Andy Home): Nickel, the devil's metal with a history of bad behaviour